Search found 863 matches

by Leemiller
Mon Nov 20, 2017 11:14 pm
Forum: Personal Finance (Not Investing)
Topic: Should we buy term life insurance?
Replies: 14
Views: 1082

Re: Should we buy term life insurance?

You are spending so little vs your portfolio size that if anything happened, you’d be fine, the kids would be fine. I don’t see the need for it in your case.
by Leemiller
Thu Nov 16, 2017 11:15 pm
Forum: Personal Consumer Issues
Topic: Black Friday Deals/Holiday Gift Ideas
Replies: 53
Views: 6662

Re: Black Friday Deals/Holiday Gift Ideas

We went deep sea fishing in Alaska about 15 years ago. Caught a bunch and had Jerry's Meat and Seafood in Juno smoke and ship. We splurge every Christmas and place a big order with them. They ship it overnight to our doorstep and we enjoy it all season long. You've never tasted salmon or smoked sal...
by Leemiller
Sun Nov 12, 2017 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Another "Can We Afford This House" ?
Replies: 28
Views: 2591

Re: Another "Can We Afford This House" ?

I would say it depends on how expensive private school is. Your monthly expenses are already very high with a smaller mortgage. Is this a 40k a year private school x2? If the private school is really high, my vote is no.
by Leemiller
Sun Nov 12, 2017 10:40 am
Forum: Investing - Help with Personal Investments
Topic: Rapidly pay down student loans prior to house?
Replies: 24
Views: 1556

Re: Rapidly pay down student loans prior to house?

Pay off the student loans and save agreessively to have a smaller mortgage. I sort of get the feeling a 400k mortgage on your salaries is a stretch given that you’ve been living rent free with you in laws for a few years and the amount you’ve saved. Also, you need to be contributing to your wife’s R...
by Leemiller
Tue Nov 07, 2017 7:30 am
Forum: Personal Finance (Not Investing)
Topic: Disposable income... how?
Replies: 106
Views: 9633

Re: Disposable income... how?

Drop your savings rate to 15-20%, pay off your payments, and take your wife out to dinner without making her compromise on an entree that you both want. Payments make you feel poorer and so does debt. Notice that the forum doesn’t have a lot of people posting about using zero percent credit cards as...
by Leemiller
Sun Nov 05, 2017 8:22 am
Forum: Personal Finance (Not Investing)
Topic: Budgeting with significant other
Replies: 26
Views: 2159

Re: Budgeting with significant other

Just make sure that you’ve spoken to an attorney to set yourself up in the event of death, disability or otherwise a dissolution of your partnership.
by Leemiller
Mon Oct 30, 2017 8:05 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Before Student Loans Are Paid Off?
Replies: 6
Views: 708

Re: Mortgage Before Student Loans Are Paid Off?

I wouldn’t buy a property for a child that isn’t here yet. You just don’t know the timing, and while I hope everything goes smoothly, sometimes it doesn’t. Also, I’m not crazy about a starter condo when the goal is a SFH. I’ve also only met one person who was happy to have bought a condo, and they b...
by Leemiller
Sun Oct 29, 2017 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: we bought a house - are we housepoor now?
Replies: 195
Views: 8956

Re: we bought a house - are we housepoor now?

John Laurens wrote:
Sun Oct 29, 2017 3:41 pm
If you either have kids or are planning on kids, you are definitely house poor.

Regards,
John
+1

Agree.
by Leemiller
Sat Oct 28, 2017 11:00 am
Forum: Personal Consumer Issues
Topic: bedroom color-current trend?
Replies: 55
Views: 2987

Re: bedroom color-current trend?

I like Maria Killam's blog and her online books. Well worth buying in my opinion. I have some stronger Farrow and Ball colors but also used Pale Oak by Benjamin Moore throughout my house. It is a warm greige color. We don't get tons of light and our floors are a medium tone hardwood. What some of yo...
by Leemiller
Sat Oct 28, 2017 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire today?
Replies: 132
Views: 7660

Re: Can I retire today?

I agree with KlangFool. If it was me, I would contact the union, EEOC office and/or HR. I would also have emailed back that his email was harassment and appears to be retaliation for you taking your legally entitled leave. It is beyond me why you would let someone bully you like this. For the record...
by Leemiller
Sat Oct 28, 2017 7:15 am
Forum: Personal Finance (Not Investing)
Topic: My fear about buying a house justified?
Replies: 72
Views: 6120

Re: My fear about buying a house justified?

Op, you and your spouse need to learn about the Thrift Savings Plan. It is not 3% returns. Mine is over 15% this year (I invest in a couple of funds). There is also a significant employer match. Some agencies also offer a 401k with match. One option is for you to work more that would increase your h...
by Leemiller
Sat Oct 28, 2017 7:00 am
Forum: Personal Finance (Not Investing)
Topic: Sanity Check - Would like to pay off mortgage early
Replies: 35
Views: 2558

Re: Sanity Check - Would like to pay off mortgage early

I would max the Roth for you and your wife. Psychologically, I think this move will also be very meaningful for your stay at home spouse. That alone to me is worth it. The Roth is also a backup emergency fund. Much easier to assess than home equity. You're already 3.5 years into a 15. So you're real...
by Leemiller
Sun Oct 22, 2017 11:30 am
Forum: Investing - Theory, News & General
Topic: When one reaches the 1 million mark what to do with all the money?
Replies: 33
Views: 6290

Re: When one reaches the 1 million mark what to do with all the money?

Money in a safe deposit box is not under Fdic deposit Insurance as far as I know. We added some umbrella insurance, a small position in gold which I may increase. Our home is expensive but we live in a HCOL. No other real estate at this time but maybe in the future. We have multiple accounts at diff...
by Leemiller
Fri Oct 20, 2017 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: just hit the two comma club today...some thoughts
Replies: 37
Views: 5602

Re: just hit the two comma club today...some thoughts

Congratulations! That kind of investment starts to do some heavy lifting for you!

Are you going to celebrate?
by Leemiller
Wed Oct 18, 2017 7:12 am
Forum: Investing - Help with Personal Investments
Topic: Deciding between Roth TSP and Trad TSP
Replies: 26
Views: 1549

Re: Deciding between Roth TSP and Trad TSP

In a higher bracket I chose the regular because I'd rather get the tax break now. If my tax bracket is high or as high in retirement, I can think of worse problems.
by Leemiller
Mon Oct 16, 2017 7:37 am
Forum: Investing - Help with Personal Investments
Topic: Thinking we are close to winning the game
Replies: 35
Views: 5861

Re: Thinking we are close to winning the game

Have you considered getting a different job(s)? I saw a chart in a book once that showed how brutal entering retirement during a market downturn can be on a portfolio compared to a portfolio with the same average return that started with positive returns. I think it's fair to say that a market corre...
by Leemiller
Sat Oct 14, 2017 10:01 am
Forum: Personal Consumer Issues
Topic: Washington DC Trip
Replies: 25
Views: 1718

Re: Washington DC Trip

Agree that you are staying very far out and that foggy bottom isn't a good stop for the sights. I would put in a plug for walking around the DuPont Circle area, maybe stopping by the Phillips Museum, Kramer's books and afterwards cafe, Moby Dick's house of kabobs... If you really want shopping thoug...
by Leemiller
Sat Oct 14, 2017 9:48 am
Forum: Personal Consumer Issues
Topic: New mattress
Replies: 37
Views: 3330

Re: New mattress

We looked at many options and ended up at Macy's for their premium in-house brand, which was one of the more expensive options we looked at. It does feel firmer to me than it did in the store. I saw some of the same brand on EBay for less but my husband veto'd taking that risk. I also thought Room a...
by Leemiller
Sat Oct 14, 2017 9:38 am
Forum: Personal Consumer Issues
Topic: 2017 BMW X1 purchase
Replies: 14
Views: 1212

Re: 2017 BMW X1 purchase

Can you help me negotiate my next car? That sounds like a good discount. How does it look in comparison to the Kelly Bluebook price? I have friends who only drive BMWs and they love them and haven't complained about repair costs. We strongly considered a BMW but just got a CPO Mercedes. Zero regrets.
by Leemiller
Sat Oct 14, 2017 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Another Job Offer Dilemma
Replies: 13
Views: 1633

Re: Another Job Offer Dilemma

Have you talked to offer 1 about raising the base to match/exceed your current? Do they know you're considering another offer? Are the RSUs easily tradible?
by Leemiller
Thu Oct 05, 2017 8:09 am
Forum: Personal Finance (Not Investing)
Topic: How much worth house should one buy?
Replies: 73
Views: 4350

Re: How much worth house should one buy?

I like the guideline of keeping all fixed expenses, so that would include housing, transportation, food, and childcare, below 50% of net take home. Then you have 25% or so for fun & the same for savings. We bought a home with a mortgage about 2x income in case one of us decided to take a lower payin...
by Leemiller
Wed Oct 04, 2017 8:47 pm
Forum: Investing - Help with Personal Investments
Topic: 2M savings investment help
Replies: 45
Views: 8339

Re: 2M savings investment help

Why not look into a variable rate annuity? That would protect your funds and give you some of the market returns. You lost a lot of money sitting on the sidelines based on last year's election results. An annuity would have saved you from yourself. I thought the market was overvalued awhile ago, but...
by Leemiller
Wed Oct 04, 2017 6:57 am
Forum: Personal Finance (Not Investing)
Topic: Senior citizens can lose everything [to professional guardians via court rulings]
Replies: 111
Views: 9578

Re: Senior citizens can lose everything [to professional guardians via court rulings]

I haven't read the article or some of the posts, but I do want to state my experience which was that my family could not get a mentally ill relative declared incompetent. We got the state involved, doctors, attorneys, but it was to no avail. This was for someone who refused medical treatment for a l...
by Leemiller
Mon Oct 02, 2017 7:47 am
Forum: Personal Finance (Not Investing)
Topic: Federal Employee looking to move to Private sector..!
Replies: 34
Views: 2387

Re: Federal Employee looking to move to Private sector..!

I've left two non-GS scale agencies to go to the private sector during my career. (Meaning that my pay was higher than GS scale). The first time I went back to the government with a substantial pay raise because they looked at my private sector salary. My government manager also highly valued privat...
by Leemiller
Sun Sep 24, 2017 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Spouse Money Management
Replies: 94
Views: 6455

Re: Spouse Money Management

You've put yourself in a weird situation that is the problem. It is one thing to buy dinners, etc when you go out, another to give someone an allowance. A 50/50 split is weird when you make so much money but an allowance is weird too. It would even be fine to help with bigger expenses, like if her c...
by Leemiller
Sat Sep 23, 2017 9:11 am
Forum: Personal Finance (Not Investing)
Topic: No down payment for home purchase: what is worst-case scenario?
Replies: 39
Views: 2421

Re: No down payment for home purchase: what is worst-case scenario?

I don't know why the assumption is being a doctor is bullet proof. I've know a doctor who got laid off right after signing for a low down payment loan. My friend's husband's earn less practicing medicine then many lawyers in our HCOL area. Generally, like young attorneys some people are impatient an...
by Leemiller
Tue Sep 19, 2017 7:34 pm
Forum: Personal Consumer Issues
Topic: Convertible in Florida or not...
Replies: 38
Views: 2504

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: 4159

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: 5699

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: 5302

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: 313
Views: 19263

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: 6688

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: 4709

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: 3887

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: 3265

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: 4709

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: 4709

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: 6381

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: 12813

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: 7455

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: 130
Views: 9351

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: 1514

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: 6960

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: 6960

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: 18406

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: 4264

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: 3323

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: 7386

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: 4621

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: 7918

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...