Search found 837 matches

by Leemiller
Tue Sep 19, 2017 7:34 pm
Forum: Personal Consumer Issues
Topic: Convertible in Florida or not...
Replies: 36
Views: 1918

Re: Convertible in Florida or not...

My first car was a convertible with no AC in South Florida, and I loved that car. The top was down most of the time, even in the heat. More years that I'd like to admit later I just got a CPO Mercedes convertible to use as my daily driver. Now I live up north and, I love the car. I like driving with...
by Leemiller
Tue Sep 19, 2017 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Worth buying an excessive priced house?
Replies: 43
Views: 3709

Re: Worth buying an excessive priced house?

I would move and keep it closer to 2x income. That is still very conservative. The other home with better schools should appreciate more. I grew up with a pool and it was awesome. Now we live up north so I'm not sure if I want to put one in or just join a country club. As for schools and test scores...
by Leemiller
Sun Sep 17, 2017 8:49 am
Forum: Personal Consumer Issues
Topic: Lawyer overbilling for prenup review
Replies: 66
Views: 5050

Re: Lawyer overbilling for prenup review

Maybe you haven't worked with attorneys a lot. They tend to analyze every word and clause in a document, and consider how it could someday be used or interpreted. If they aren't very good and thorough at that they aren't good attorneys. It's frustrating and annoying to work with them when you just ...
by Leemiller
Sat Sep 16, 2017 7:50 am
Forum: Personal Finance (Not Investing)
Topic: Mother-In-Law dying, Wife wants to buy a Porsche
Replies: 51
Views: 4836

Re: Mother-In-Law dying, Wife wants to buy a Porsche

Well I think if you did talk to her you need to acknowledge that neither of you have managed money well in the past. Your Porshce is an example of that. The car loans, vacation debt, and credit card debt shouldn't be there given your incomes and housing expenses. Why are you paying more on a 15 year...
by Leemiller
Wed Sep 13, 2017 7:46 pm
Forum: Personal Consumer Issues
Topic: Is it really Worth it to brown bag your lunch at work?
Replies: 309
Views: 16010

Re: Is it really Worth it to brown bag your lunch at work?

I got my last job through a lead that came over lunch. Meantime I was interviewing for another job that I heard about over lunch. Today I got some useful company info over lunch. But I think I'd weigh less if I was preparing my lunch daily.
by Leemiller
Mon Sep 04, 2017 1:31 pm
Forum: Investing - Theory, News & General
Topic: The "interest rates are so low....why would you"arguments
Replies: 62
Views: 6199

Re: The "interest rates are so low....why would you"arguments

I don't think the really wealthy people I know worry about this. They pay cash for their home, which is a smaller percentage of their net worth than mine is for me, and they move on. It is too easy to get trapped into the but I can afford the payments mentality for homes, cars, boats, etc. Also, avo...
by Leemiller
Wed Aug 30, 2017 7:10 am
Forum: Investing - Help with Personal Investments
Topic: Priorities - Biglaw junior associate
Replies: 45
Views: 4370

Re: Priorities - Biglaw junior associate

I'd just point out that it is much more tempting to buy more house when you have a sizable amount sitting in taxable vs you've used the money to pay down debt. Often the pressure can come from a non-biglaw spouse.
by Leemiller
Tue Aug 29, 2017 6:19 am
Forum: Personal Finance (Not Investing)
Topic: "Bargain" house in HCOL area
Replies: 34
Views: 3687

Re: "Bargain" house in HCOL area

Sounds like the property is on the high end of local real estate and may not be the right style or updated enough for the taste of buyers. I believe it is also true that many buyers are stretching and not in a position to spend another few 100k in renovations. We purchased a home that was about 4K f...
by Leemiller
Fri Aug 25, 2017 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Really struggling: advice on accepting this new job offer?
Replies: 31
Views: 3029

Re: Really struggling: advice on accepting this new job offer?

Changing jobs is stressful. I'm about to do it, and I'm getting a big pay increase and I don't like my current job. Still it is stressful. If I was you I might use the opportunity to negotiate for a bump in your current position or a detail to a more attractive position, but I would not move for the...
by Leemiller
Fri Aug 25, 2017 7:47 am
Forum: Investing - Help with Personal Investments
Topic: Priorities - Biglaw junior associate
Replies: 45
Views: 4370

Re: Priorities - Biglaw junior associate

First, you can't afford a 1.5m house. You really can't afford it with kids. The big issue being that I'm assuming your income is most of the household income and it can be hard to transition out of biglaw, even taking a big pay cut to go to the govt or in-house. If your student loans are split into ...
by Leemiller
Fri Aug 25, 2017 7:28 am
Forum: Investing - Help with Personal Investments
Topic: Priorities - Biglaw junior associate
Replies: 45
Views: 4370

Re: Priorities - Biglaw junior associate

Save as much as you can and pay down debt. That part is easy. The big thing is your career. Find a mentor in your firm - someone that is already successful. Learn from them what it takes to be successful and advance within the firm. With any luck, in 12 or 13 years, they'll retire and you'll inheri...
by Leemiller
Tue Aug 22, 2017 11:44 am
Forum: Personal Consumer Issues
Topic: Safe car for wife and baby
Replies: 97
Views: 5767

Re: Safe car for wife and baby

Can you move? That sounds like a very long commute. I'd be more worried about a tired parent driving a lot with a baby that is going to cry/ get fussy in the backseat during a long daily drive. Also, I hate driving big cars. So for me, I'd be very uncomfortable in something bigger than an Accord. Ma...
by Leemiller
Mon Aug 21, 2017 8:04 pm
Forum: Personal Consumer Issues
Topic: Is it worth it? [demanding jobs vs time with family]
Replies: 182
Views: 11828

Re: Is it worth it? [demanding jobs vs time with family]

I think my husband is a better husband and father because his mother worked when he was growing up. I also believe in being a role model to my daughters by having a successful career. I know bitter sahms complain about the time they spent raising their children when they are older. Lately, I've noti...
by Leemiller
Thu Aug 17, 2017 6:49 am
Forum: Personal Finance (Not Investing)
Topic: How does personal wealth affect job hunting?
Replies: 57
Views: 6940

Re: How does personal wealth affect job hunting?

I feel that our portfolio gives me the opportunity to take risks. I'm about to transition from a federal government job to the private sector. I am highly paid for the government, but I'm getting a big overall compensation increase with more potential future upside. I can't wait. However, some of my...
by Leemiller
Tue Aug 15, 2017 7:40 pm
Forum: Personal Consumer Issues
Topic: Is $9000 too much for a sectional sofa ?
Replies: 123
Views: 7048

Re: Is $9000 too much for a sectional sofa ?

Your designer should be getting 15-20% off of retail at Century furniture or "to the trade pricing." I'm not clear on whether she is charging you retail + 20% or to the trade plus 20%. It should be the later at most. Also, we paid a designer a design fee for a bathroom reno, he got us to the trade p...
by Leemiller
Fri Aug 11, 2017 7:32 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house as a student
Replies: 27
Views: 1440

Re: Buying a house as a student

Did you or your parent fund the college account? Time to be a grownup and pay rent until YOU have the income to buy. Some very nice parents can't say no to their children's ridiculous demands. I hope your parent says no, and I'd be so disappointed if my kid came to be with this "plan."
by Leemiller
Fri Aug 11, 2017 7:28 am
Forum: Personal Finance (Not Investing)
Topic: Struggling with Justifying an Expensive Car Purchase
Replies: 120
Views: 6255

Re: Struggling with Justifying an Expensive Car Purchase

Just looked back at your numbers and you would be destroying your liquid savings to do this. Also, I think you need to get some real sense of what the renovations cost because we've be constantly surprised at how expensive they are. I'm not sure how on board your spouse is with this expensive car, b...
by Leemiller
Thu Aug 10, 2017 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Struggling with Justifying an Expensive Car Purchase
Replies: 120
Views: 6255

Re: Struggling with Justifying an Expensive Car Purchase

I think if you're used to spending so little then you will be putting a lot of pressure on this car purchase. You much save a huge percentage of takehome to get to that amount of savings at your income and age. I can assure you that it is easy to get used to anything. The car will become just your c...
by Leemiller
Tue Aug 08, 2017 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Life at crossroads. What would you do ?
Replies: 198
Views: 17132

Re: Life at crossroads. What would you do ?

How much is private school? In my area it would be 30-40k a year per a kid, not sure how much it is in yours. One option might be to move if the private school is a huge expense. You could take a job and live somewhere Monday to Friday and commute for awhile depending on the age of your kids or look...
by Leemiller
Fri Aug 04, 2017 7:14 am
Forum: Personal Finance (Not Investing)
Topic: How much do kids cost in a high COLA?
Replies: 57
Views: 3922

Re: How much do kids cost in a high COLA?

It probably matters where you are in the DC area, my understanding is that there may be the option for free preschool in DC itself. The daycare we used would have charged $2,100 a month for infant care, at a reduced rate due to where I worked. I think we were paying about $1,600 a month for my toddl...
by Leemiller
Wed Aug 02, 2017 10:43 am
Forum: Investing - Help with Personal Investments
Topic: Will my older self thank me?
Replies: 38
Views: 3131

Re: Will my older self thank me?

Buy some decent clothing. How you present yourself matters. Frankly, my 20s savings were inconsequential, what mattered was getting the education I did.
by Leemiller
Fri Jul 28, 2017 6:55 am
Forum: Personal Finance (Not Investing)
Topic: Post Nuptial agreement guaranteeing alimony?
Replies: 113
Views: 7017

Re: Post Nuptial agreement guaranteeing alimony?

I think the posters to this thread should disclose if they are men and if they are married to a stay at home wife or not. Also, if their wives make a similar salary. In my experience, this board tends to skew towards traditional gender roles. Op, if your husband was building his own business you'd e...
by Leemiller
Tue Jul 25, 2017 7:20 pm
Forum: Personal Finance (Not Investing)
Topic: Grandson just got married. Wants to add wife's name to accts
Replies: 32
Views: 4374

Re: Grandson just got married. Wants to add wife's name to accts

Personally, I wouldn't want to live in a house that I wasn't on the title of.... When I first got married my husband was like your grandson. We were both attorneys but he had six figures in savings, and he added me to his accounts. Actually, he even put me on his life insurance pre-wedding. I was, a...
by Leemiller
Mon Jul 17, 2017 7:35 am
Forum: Personal Finance (Not Investing)
Topic: Personal loan to a family member
Replies: 114
Views: 7119

Re: Personal loan to a family member

I think you need to understand what they could be doing but aren't to deal with this. A 401k loan or taking out a loan or selling cars that are paid off is an example. Another would be working extra hours and significantly cutting back lifestyle. My bank keeps trying to give me personal signature lo...
by Leemiller
Tue Jul 11, 2017 7:02 am
Forum: Investing - Help with Personal Investments
Topic: Stop contributing to 529 on 50% chance grandparents pay
Replies: 42
Views: 3093

Re: Stop contributing to 529 on 50% chance grandparents pay

Don't plan your financial future around vague promises from relatives. If they fund the 529 you control, that's a commitment. If they hint that they may in the future pay for some part of college, that's sentiment. I may do all sorts of nice things for somebody some day. Or not. +1. I've had more t...
by Leemiller
Mon Jul 10, 2017 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Gift to son buy a condo in San Francisco. Co-ownership?
Replies: 55
Views: 4265

Re: Gift to son buy a condo in San Francisco. Co-ownership?

I would strongly recommend equal gifts to the children now. Many people, including your children, will not tell you how they really feel. Making it up someday when you die is not really conducive to good feeling now between you and between the kids. I've always deeply appreciated the fact that my in...
by Leemiller
Sat Jul 08, 2017 4:51 pm
Forum: Investing - Help with Personal Investments
Topic: Federal Couple - Financial Independence? Early Retirement?
Replies: 18
Views: 3056

Re: Federal Couple - Financial Independence? Early Retirement?

If you only need 75k a year, then you're done. It doesn't matter what the FERs pension is worth, a 4-5% rate of return on your investments and social security and you're covered. The big issue here is what will your expenses, including health care, really be.
by Leemiller
Thu Jul 06, 2017 8:01 am
Forum: Investing - Theory, News & General
Topic: Considering a TSP loan to pay off student loans
Replies: 36
Views: 2446

Re: Considering a TSP loan to pay off student loans

Does TSP require that new contributions go to loan repayment? The combination of your contributions plus your soon to be wife's loan payment may pay the debt faster. Then you would collect the balance of the loan from your soon to be wife. No, the TSP loan repayment is paid with post-tax dollars. Y...
by Leemiller
Tue Jul 04, 2017 9:06 am
Forum: Personal Finance (Not Investing)
Topic: Should I buy this house?
Replies: 50
Views: 4528

Re: Should I buy this house?

One measure of adequate retirement savings is 1x your salary by age 30, so you're behind in terms of early retirement by that measure unless you wish to spend dramatically less in retirement. The house is ok but probably a luxury since you get so much house for that amount of money. In my opinion th...
by Leemiller
Fri Jun 30, 2017 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: FDIC Insurance--what does it really mean?
Replies: 8
Views: 675

Re: FDIC Insurance--what does it really mean?

There is a lot of information, including a calculator,
on the FDIC's website.
by Leemiller
Fri Jun 30, 2017 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: Can't find houses less than 3.3x income. Can we afford it?
Replies: 40
Views: 4626

Re: Can't find houses less than 3.3x income. Can we afford it?

I think the concept is your mortgage, not the purchase price, should be around 2.5x your income. Another measure is a 15 year no more than 25% of your take home. Another is all mandatory bills should be no more than 50% of take home (that would include utilities, etc). Everyone's circumstances are d...
by Leemiller
Fri Jun 30, 2017 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Engagement Ring Insurance
Replies: 46
Views: 3318

Re: Engagement Ring Insurance

For another view, if it would make your fiancé more comfortable to wear the ring buy the insurance. You can always cancel it later.
by Leemiller
Fri Jun 30, 2017 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a $520k House in LCOLA
Replies: 23
Views: 3094

Re: Buying a $520k House in LCOLA

We live in a very social neighborhood with homes on smaller lots, and I would have a hard time giving that up. There are events for all the holidays as well as other parties. I think we have a large event about monthly. It has been great for us and our kids but people have different preferences.
by Leemiller
Fri Jun 30, 2017 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving big law for public interest- how to save/allocate 1 year of salary the best way to prep for this
Replies: 10
Views: 1085

Re: Leaving big law for public interest- how to save/allocate 1 year of salary the best way to prep for this

I think you should take the bonus and pay everything off. You should be maxing retirement give your tax bracket. I wouldn't stop 529s - I think money saved for college is much, much more important than daycare now. Depending on future income, you're price range looks rather high. It seems like you'r...
by Leemiller
Fri Jun 23, 2017 7:32 am
Forum: Investing - Help with Personal Investments
Topic: Another Roth vs. Traditional debate, but for high-income Feds
Replies: 15
Views: 1687

Re: Another Roth vs. Traditional debate, but for high-income Feds

I contribute to the traditional TSP because my husband and I are in a high tax bracket for federal, state, and local taxes. I'm also not worried about paying more in taxes because I have such a high income stream in my 70s. I'd rather have a larger paycheck now. Like the other poster, I will also ch...
by Leemiller
Fri Jun 23, 2017 7:23 am
Forum: Personal Finance (Not Investing)
Topic: New Baby - Wife stay at home for 1 year?
Replies: 48
Views: 4484

Re: New Baby - Wife stay at home for 1 year?

Your wife is very lucky that she can take a year off and still have a job to return to. If she wants to take the time, then why not? For us, we like to have a nanny for a few years then move to daycare. If I had any paid maternity leave and that option, I would have stayed home longer. (Federal work...
by Leemiller
Wed Jun 21, 2017 7:25 am
Forum: Personal Finance (Not Investing)
Topic: Tracking towards a million and retiring at 55.
Replies: 38
Views: 5961

Re: Tracking towards a million and retiring at 55.

I think you're in great shape. Also, you could always pick up some side work after federal retirement and supplement your income for a time. But it would be great if your mortgage was paid off in retirement, it will be eventually so that will also mean your expenses will drop down at some point. I w...
by Leemiller
Wed Jun 21, 2017 7:18 am
Forum: Personal Finance (Not Investing)
Topic: Tracking towards a million and retiring at 55.
Replies: 38
Views: 5961

Re: Tracking towards a million and retiring at 55.

Currently, I make around $124,000 salary not including other benefits which amount to a total compensation package of $171,000 As a fellow federal employee, can you let me know where you obtained the dollar value estimate of your non-salary compensation? thanks Some agencies seem to provide this in...
by Leemiller
Wed Jun 21, 2017 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Co-workers advising to buy house RIGHT NOW
Replies: 63
Views: 6792

Re: Co-workers advising to buy house RIGHT NOW

You didn't say what market you're in, but in certain markets in the US I would buy sooner, rather than later, to lock in my housing costs. None really knows how expensive housing might get - look at Silicon Valley. I've had co-workers in the past who rented for too long and deeply regretted it. But ...
by Leemiller
Mon Jun 19, 2017 12:36 pm
Forum: Investing - Theory, News & General
Topic: Amazon Buys Whole Foods
Replies: 103
Views: 11675

Re: Amazon Buys Whole Foods

I find it interesting that people worship bezos/amazon...when in reality he's done more to kill brick and mortar stores than waltons/walmart did. Double standard much?? Now amazon is buying grocery chains...they're been in the tv/movie business now for a couple years and are starting to create thei...
by Leemiller
Mon Jun 19, 2017 7:48 am
Forum: Investing - Help with Personal Investments
Topic: What Is The Right Amount For An Emergency Fund?
Replies: 27
Views: 2848

Re: What Is The Right Amount For An Emergency Fund?

My spouse and I earn enough that we could dial back our expenses and live on either income if needed, but it could take some time to find a new job and our fixed expenses are relatively high. So we keep about 6-8 months in our bank accounts. We also have taxable acccounts which I mentally include in...
by Leemiller
Wed Jun 14, 2017 4:15 pm
Forum: Personal Consumer Issues
Topic: Best Cheap Champagne
Replies: 60
Views: 4528

Re: Best Cheap Champagne

Veuve clicquot.
by Leemiller
Tue Jun 13, 2017 7:46 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford a 800k house in HCOL area (Boston area) ?
Replies: 42
Views: 4659

Re: Can we afford a 800k house in HCOL area (Boston area) ?

We are in another HCOL. Aftercare for my kindergartener is a little over $500 a month. That is aftercare only, you may need beforecare as well. The nanny for my baby is $$$ but daycare for her would have been a little over $1,500 a month. You may wish to have a nanny or parent at home since some kid...
by Leemiller
Thu Jun 08, 2017 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: How to deal with a personal finance cynic
Replies: 109
Views: 6836

Re: How to deal with a personal finance cynic

There are plenty of other sites that your friend can look too. Someone already mentioned the Reddit site. Personally, I find some of the threads and comments on this thread off-putting as well. And someone can read the Wiki page without digging through the forums.
by Leemiller
Wed Jun 07, 2017 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 265
Views: 23149

Re: KF's Worst Case Retirement Plan [KlangFool's]

I don't see why making $10 is the goal here. If income is the goal plenty of jobs pay more than $10 an hour. A nanny/ babysitter can earn from 15-25 for instance. Unless the job for your kids is related to their career paths, $10 is low.
by Leemiller
Wed Jun 07, 2017 8:42 am
Forum: Personal Consumer Issues
Topic: My Wife is having our 5th child. What is an appropriately extravagant push gift?
Replies: 90
Views: 7830

Re: My Wife is having our 5th child. What is an appropriately extravagant push gift?

A nice piece of jewelry that she can wear daily and enjoy but that has the wow factor. I'm not sure why your question got the responses it did, but I'm sure your wife will appreciate your thoughtfulness! I should add that I'm a woman and a mom, she will love a special gift.
by Leemiller
Tue Jun 06, 2017 7:20 am
Forum: Personal Consumer Issues
Topic: Help me choose an EXPENSIVE* red wine for a gift
Replies: 69
Views: 8664

Re: Help me choose an EXPENSIVE* red wine for a gift

I just did something similar for a friend. So I asked him what to get my husband as a special gift. You could ask for a special anniversary, etc. He gave me a recommendation and was surprised to discover the gift was for him. Made for a good joke as well.
by Leemiller
Mon Jun 05, 2017 7:01 am
Forum: Personal Consumer Issues
Topic: Worth it to buy expensive clothes?
Replies: 91
Views: 9861

Re: Worth it to buy expensive clothes?

Some people have body types that need more custom tailoring than others. I've known some men to continue to wear sloppy looking, ill fitting clothing and it's not a good look. I'd also note that in men's clothing paying more often gets a visibly nicer material. Up to a point, you can tell a cheaper ...
by Leemiller
Sun Jun 04, 2017 7:09 pm
Forum: Investing - Help with Personal Investments
Topic: High Income Earner Humbly Seeks Advice
Replies: 81
Views: 13842

Re: High Income Earner Humbly Seeks Advice

arsenalfan wrote:I second Livesoft's 529 idea. Dump $140k into 3 accounts, and be done with it for 5 years. After that, consider dumping another $140k in per kid.
Let the Roths grow as long as possible.


I agree with this. Spending Roth money on college at your income level is bizarre to me.
by Leemiller
Thu Jun 01, 2017 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: First time home buyer in HCOL area
Replies: 10
Views: 1634

Re: First time home buyer in HCOL area

I think if you use your current net income it would be better than gross since nets vary quite a bit depending on what you have taken out. I live in the area and it's expensive. Then again we've met lots of kids at my daughter's school who are in condos, so that might be an option. For me, if I'm co...