Search found 743 matches

by Mrxyz
Thu Jan 21, 2021 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Millionaire Parents: Do Your Kids Know You're Rich?
Replies: 194
Views: 15140

Re: Millionaire Parents: Do Your Kids Know You're Rich?

snowman wrote: Thu Jan 21, 2021 1:30 pm
Mrxyz wrote: Thu Jan 21, 2021 1:22 pm FAFSA form has a section for NW which your child can see! So the older kids know!
Not necessarily! My FAFSA always showed $0 NW. All of our assets are in retirement accounts and home equity. Both kids thought we were poor when applying to colleges, which I was OK with. Made them work really hard for scholarships and grades. It feels like a scam, but I'll take it... :happy
I am not sure how one can show $0 NW?
Am I missing something? Or you choose not to disclose your assets? Just for my knowledge - is one allowed to do so?
by Mrxyz
Thu Jan 21, 2021 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Millionaire Parents: Do Your Kids Know You're Rich?
Replies: 194
Views: 15140

Re: Millionaire Parents: Do Your Kids Know You're Rich?

FAFSA form has a section for NW which your child can see! So the older kids know!
by Mrxyz
Sun Jan 17, 2021 11:50 am
Forum: Personal Consumer Issues
Topic: Let's play chess
Replies: 987
Views: 97422

Re: Let's play chess

Didn't read the thread so forgive me if this was already mentioned. The Queens Gambit inspired my kids to play chess again. My kids said that chess.com has an A.I. where you can play any game against Beth Harmon at any age. They were able to beat her until high school. My son thinks she was ranked about 2,000 then. One of my gripes about the series (which I overall enjoyed, BTW) was its exaggeration of BH's accomplishments. The chess rating system if applied honestly is pretty accurate and repeatable -- there is no way that BH plays for a while in the basement with the janitor and then beats a player rated 2100 or whatever in her 1st tournament. I believe that the series is loosely based on Bobby Fischer's exploits. He was outstanding, pro...
by Mrxyz
Sat Jan 16, 2021 6:44 pm
Forum: Personal Consumer Issues
Topic: Let's play chess
Replies: 987
Views: 97422

Re: Let's play chess

https://www.youtube.com/channel/UCL5YbN ... LIegT5QAbA

https://en.wikipedia.org/wiki/Antonio_Radi%C4%87

Check him out, his short video clips are very easy to follow and teaches you some background history also!
by Mrxyz
Mon Jan 11, 2021 12:01 pm
Forum: Personal Consumer Issues
Topic: Nurse practitioner as primary care provider?
Replies: 76
Views: 7939

Re: Nurse practitioner as primary care provider?

Perhaps look at this way? Is the best NP better than the best MD? very likely No Is the worst MD better than the average NP? no idea because what is average? Is the average MD better than the average NP? likely yes but again, tough to define average as compared to best/worst. Is the average MD better than the worst NP? yes This identifies the problem; Can the patient figure out how good a NP or MD is ? Most cannot and so it is not possible to give a general recommendation about NP/MD........but one can be specific in a given practice/hospital that "hey in this specialty such and such MD is great while such and such NP are also great." Can the patient figure out how good of a training does a NP or MD have ? Yes however patients dec...
by Mrxyz
Sat Jan 09, 2021 1:05 pm
Forum: Investing - Theory, News & General
Topic: Do you have FOMO (Bitcoin, TSLA, whatever?)
Replies: 201
Views: 17672

Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Hector wrote: Sat Jan 09, 2021 12:43 pm What is FOMO?
Fear Of Missing Out
by Mrxyz
Sat Jan 09, 2021 12:10 pm
Forum: Investing - Theory, News & General
Topic: Do you have FOMO (Bitcoin, TSLA, whatever?)
Replies: 201
Views: 17672

Re: Do you have FOMO (Bitcoin, TSLA, whatever?)

Yes, yes, yes, it is possible to do so but to what end? Meaning how much do you want to profit before selling and 'making' that profit? And then what to do with the money again....... I believe I have FI made. I had TSLA at around $240, sold it at around $280 in 2020 and made some profit....quite exhausting watching the stock etc etc, moved everything back to the 3 fund portfolio..............if I had not sold then it would be worth way way more.........but then again when do you sell anyway? Or say, I had not sold then and now have a winner as stock is around $800 plus......now what, do I sell or do I keep it ? Why etc etc....... And then how do you know you have picked a winner ? OP, No. I have enough. I only need a 5% nominal return. I h...
by Mrxyz
Wed Jan 06, 2021 5:52 pm
Forum: Personal Consumer Issues
Topic: Nurse practitioner as primary care provider?
Replies: 76
Views: 7939

Re: Nurse practitioner as primary care provider?

Picasso wrote: Wed Jan 06, 2021 11:03 am Part of my day job involves working with and reviewing clinical quality and outcome data across all clinicians in my state. I choose the MD at an academic medical center every time. If I have to travel to get there, I travel to get there.
+ 10000000!
by Mrxyz
Tue Jan 05, 2021 9:58 pm
Forum: Personal Consumer Issues
Topic: Nurse practitioner as primary care provider?
Replies: 76
Views: 7939

Re: Nurse practitioner as primary care provider?

NPs spend more time with patients because they can and not necessarily because they want to - a not so subtle difference. There are lots of physician who are able and can spend enough time with their patients. Plenty of things missed by NPs - boils down to less education equals less foresight etc. Same is true for physicians - that is things are missed by physicians also but definitely less than NP and perhaps more than a subspecialist. Quite a few horror stories if you google this issue but it is very contentious for obvious reasons! Finally, there is absolutely no evidence of NPs being more caring because they were RNs................FWIW! "More caring" as compared to....! And the main reason for NPs to opt for doctorate is so t...
by Mrxyz
Mon Jan 04, 2021 2:22 am
Forum: Investing - Theory, News & General
Topic: When do you change your asset allocation (if ever)?
Replies: 39
Views: 3498

Re: When do you change your asset allocation (if ever)?

I increased my bond % when I realized that I could not properly "digest" the amount "lost" when the stocks plunged.
IOW - I/we did not have the willingness (and also the need) to take that risk.
by Mrxyz
Mon Jan 04, 2021 2:22 am
Forum: Investing - Theory, News & General
Topic: When do you change your asset allocation (if ever)?
Replies: 39
Views: 3498

Re: When do you change your asset allocation (if ever)?

I increased my bond % when I realized that I could not properly "digest" the amount "lost" when the stocks plunged.
IOW - I/we did not have the willingness (and also the need) to take that risk.
by Mrxyz
Thu Dec 31, 2020 11:44 am
Forum: Personal Investments
Topic: Help Me Decide How and If To Retire Early
Replies: 24
Views: 4465

Re: Help Me Decide How and If To Retire Early

If you cannot/do not retire with these figures..........then I am in trouble and I cannot retire...............for a very long time!!
by Mrxyz
Sat Dec 26, 2020 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Best Way to Collect Rent Electronically?
Replies: 89
Views: 6232

Re: Best Way to Collect Rent Electronically?

Apartment.com has 'taken over' cozy and they have free online payments - which uses Plaid in background.
by Mrxyz
Fri Dec 25, 2020 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: What's your favorite phone app for personal finance?
Replies: 48
Views: 5570

Re: What's your favorite phone app for personal finance?

I am not keen on anything finance related on my phone, the less I look, the less eager I feel about (unnecessarily) changing my finances, AA, and what not........Keep it simple, unchanged for most parts except once a year AA reallocation! I visit Bogleheads enough already!!
by Mrxyz
Tue Nov 10, 2020 8:53 pm
Forum: Personal Investments
Topic: (Hopefully) Quick question : Really just three funds? Reallocate everything?
Replies: 57
Views: 4826

Re: (Hopefully) Quick question : Really just three funds? Reallocate everything?

Yes.
I was you many moons ago, and now its boringly simple and easy and stress free.................
Just do it.......and stop fiddling with asset allocations...........keep it simple .....
by Mrxyz
Fri Nov 06, 2020 9:56 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

I already answered this. First, are you sure the rental Schedule E entries will "show" a profit after depreciation if he pays rent. It doesn't matter if you actually have a positive cash flow. What matters is do you have a taxable "profit" after all revenue, expenses and depreciation . Second, while mortgage interest and property taxes are always deductible. If you do not charge him fair market value (FMV) rent, you may not be able to deduct all the other expenses including depreciation. Because your son's tenancy would be considered "personal use". Refer to Schedule E Instructions and IRS Publication 527 Residential Rental Property. The landlord's bible for all things taxable. Sorry, I did not read/understand...
by Mrxyz
Thu Nov 05, 2020 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

Mrxyz wrote: Sat Oct 31, 2020 1:08 am Question regarding my kid in the rental house;

Does he pay rent or not? because he has 529 money he can spend for college expense - say the rent is $400/month, then he pays rent to the LLC owned by me. That money gets taxed at my tax rate ( around 30%). So in short, I am getting my money back but after taxation.
Or am I thinking this wrong?
Thanks
Hi-
Any response to my question will be appreciated.
Thanks
by Mrxyz
Thu Nov 05, 2020 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

So no responses to the home insurance costs?

Update -
I am buying the house for $214k cash. Will be charging $450 per month to tenants who will pay for utilities. House inspection was fine - needs around $1400 repairs which can be done without much problem before everyone moves in.
Thanks
by Mrxyz
Mon Nov 02, 2020 9:50 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

Home insurance quote is;

Coverage Limit Premium

Dwelling 215,000 1011
extra dwelling 43,000 10
Personal property 10,750
Business liability(each occurrence) 5M 81
Business liability(annual aggregate) 10M
Loss of rents 1000
Plan rating 99

Total $1181

Any thoughts?
by Mrxyz
Mon Nov 02, 2020 8:16 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

IMO wrote: Mon Nov 02, 2020 1:09 am My parents did this, it all went fine for the 4 yrs of schooling.

The one thing I think you missed:
Then the market crashed, house value went way down (decades ago). No quick cash like they must have hoped.

On the positive, they held onto it long long term, and it is now doing great on appreciation. But that is long term.
Yes, very good point!
Other than lost opportunity of putting the money in the market for 3 to 5 years, I also believe, I can keep holding on to the unused property after my kid leave as a 'longer term' option. Who know if my other kids go to the same college and can use the house also?.........
by Mrxyz
Sun Nov 01, 2020 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

I have not read through all responses so perhaps this is a repeat question. Is it possible for your kid to play the property manager part? This would be an excellent learning opportunity for him/her while taking on some responsibility. Yes, he will be the property manager. I plan to have 'surprise' inspection with legally appropriate 24 hours notice to visit the house etc! The question is should I pay him or not? As a LLC, if I pay someone then it gets a little complicated. Excellent! Can it not be a quid pro quo of waiving rent for property mgmt? Yes, and I plan for him to sign the 'details' of property mgmt which he has 'to do' and sign by email/text to me every x weekly. Trash - put out trash q 2weekly for pickup Lawn care Snow care Che...
by Mrxyz
Sat Oct 31, 2020 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

rivendell wrote: Sat Oct 31, 2020 1:01 pm Be certain to put language in your lease regarding pets. If you allow pets stipulate type and size and breed(s). I would also have a large deposit and extra monthly fee if allowed. Stipulate a total number of pets allowed in the dwelling as well.
Pets in the hands of college students are often destructive to a rental; personally I would not allow pets including fish in a large aquarium (leakage and mold considerations).
Agree !
No pets or water beds....
No renovations
No using spare bedrooms which are not rented out


Lots of online options to create a lease agreement - does anyone have any recommendations?
by Mrxyz
Sat Oct 31, 2020 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

I suggest seeing an attorney. Why? First, you don't want to be faced with a discrimination suit if one of the kids leaves school but wants to remain. Or if they have a child and want to have the child there. In some states, evictions are easy, in others difficult. If a friend of your child wants to rent but isn't in school, what then? You can't discriminate base on status if they drop out. Are these things likely, maybe not, but they are surely possible and on Judge Judy they make good theater. I also suggest checking the occupancy zoning for where the house is. The number of unrelated adults - anyone over 18 - might be limited. Also, on the internal locks. Where I live, deadbolts on interior doors are prohibited by code, one reason is to ...
by Mrxyz
Sat Oct 31, 2020 10:15 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

Question regarding my kid in the rental house; Does he pay rent or not? because he has 529 money he can spend for college expense - say the rent is $400/month, then he pays rent to the LLC owned by me. That money gets taxed at my tax rate ( around 30%). So in short, I am getting my money back but after taxation. Or am I thinking this wrong? Thanks. I believe he has to pay market value rent or it jeopardizes your ability to claim deductions. The BH landlords can chime in. Are you sure you will have a net profit after deductions including depreciation? I think I will come out ahead. However, more people tell me I will not make money (even), some say I will make some money and very few say that I will lose a lot of money. I could be wrong but...
by Mrxyz
Sat Oct 31, 2020 10:13 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

srt7 wrote: Sat Oct 31, 2020 3:48 am I have not read through all responses so perhaps this is a repeat question. Is it possible for your kid to play the property manager part? This would be an excellent learning opportunity for him/her while taking on some responsibility.
Yes, he will be the property manager. I plan to have 'surprise' inspection with legally appropriate 24 hours notice to visit the house etc!
The question is should I pay him or not? As a LLC, if I pay someone then it gets a little complicated.
by Mrxyz
Sat Oct 31, 2020 1:08 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

Question regarding my kid in the rental house;

Does he pay rent or not? because he has 529 money he can spend for college expense - say the rent is $400/month, then he pays rent to the LLC owned by me. That money gets taxed at my tax rate ( around 30%). So in short, I am getting my money back but after taxation.
Or am I thinking this wrong?
Thanks
by Mrxyz
Sat Oct 31, 2020 12:35 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

phxjcc wrote: Fri Oct 30, 2020 11:32 pm
denovo wrote: Fri Oct 30, 2020 7:32 am
phxjcc wrote: Thu Oct 29, 2020 11:15 pm For insurance call these guys:

https://www.proper.insure/

[link formatted by admin LadyGeek]
This is not a short-term rental.
Sigh.
It is a multi line agency.
Thanks I will contact them on Monday.
by Mrxyz
Fri Oct 30, 2020 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

Hi all, Family is 2 streets down - which is great! Do not know about WHATIF - yes I use turbo tax. I did not know about depreciation and recapture.........need to read..... Insurance - Will get home insurance and umbrella separate from my personal insurances which already has 5M umbrella. Renter's insurance policy ?? - So the renters buy it? why? Will read denovo's post. Replacements will be screened and have to be approved by all remaining renters to prevent issues! 1. Have you been a landlord before? no 2. What is the graduation rate at this school? 90% 3. Is this the same state that you live in? yes 4. Do you have handyman in the vicinity you are familiar with? yes 5. What outstanding debt do you have outside of the mortgage on your own...
by Mrxyz
Fri Oct 30, 2020 11:59 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

Utilities will be paid by the 3 tenants (the 4th is my kid who does not pay). There are 5 bedrooms but we at present, are not sure of the last tenant. I think the utilities should be divided by the total number of roomates (including your child). It also would be a good idea for your child to pay their share with their own money. These are incremental and/or usage based. Your child having some skin in the game will be useful. I also think having 5 roomates might be one too many. Don't let the availability of the extra bedroom necessarily drive your plan. Fraternity/Mob dynamics tend to be nonlinear. My mistake, my kid does pay for utilities - shared equally by all 4 of them. Yes, appreciate the "non-linear" aspect of group dynami...
by Mrxyz
Fri Oct 30, 2020 11:58 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

Hi all, Family is 2 streets down - which is great! Do not know about WHATIF - yes I use turbo tax. I did not know about depreciation and recapture.........need to read..... Insurance - Will get home insurance and umbrella separate from my personal insurances which already has 5M umbrella. Renter's insurance policy ?? - So the renters buy it? why? Will read denovo's post. Replacements will be screened and have to be approved by all remaining renters to prevent issues! 1. Have you been a landlord before? no 2. What is the graduation rate at this school? 90% 3. Is this the same state that you live in? yes 4. Do you have handyman in the vicinity you are familiar with? yes 5. What outstanding debt do you have outside of the mortgage on your own...
by Mrxyz
Thu Oct 29, 2020 11:28 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

phxjcc wrote: Thu Oct 29, 2020 11:15 pm For insurance call these guys:

https://www.proper.insure/

[link formatted by admin LadyGeek]
I will.
So I have never heard of this company.
Do I buy home owner's insurance and umbrella insurance from them OR is it only for business insurance OR am I confused?
Thanks
by Mrxyz
Thu Oct 29, 2020 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

Question -
Does anyone know how much umbrella insurance is needed ?
Thanks
by Mrxyz
Thu Oct 29, 2020 10:33 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

Hi all,

Family is 2 streets down - which is great!
Do not know about WHATIF - yes I use turbo tax.
I did not know about depreciation and recapture.........need to read.....
Insurance - Will get home insurance and umbrella separate from my personal insurances which already has 5M umbrella.
Renter's insurance policy ?? - So the renters buy it? why?
Will read denovo's post.
Replacements will be screened and have to be approved by all remaining renters to prevent issues!
by Mrxyz
Thu Oct 29, 2020 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

you are under contract, right? does this mean the kids would move in next month? is your kid is leaving the dorms mid-year and if so, are you sure you can get out of the dorm contract or will you be stuck paying double? if the latter, are you sure that all the planned roommates will move in right away or will there be some time when you are not collecting rent from the other 3 because they are stuck in the dorms? other costs maybe you missed utilities - you say they'll split it but in my area tenants usually pay internet and gas/electric while landlords pay water and garbage landscape maintenance - is there a lawn? are you in a place that needs snow removal? Great points! Yes, they all have dorm contracts,which they are getting out of with...
by Mrxyz
Thu Oct 29, 2020 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

UPDATE- Hi all, So I am going ahead with this plan. Home is an older home built in 1950s, Cost $215K, 5 bedroom 2800 sq.ft. The house has no issues I can identify except one garage window which is loose but I can fix it in 15 minutes. Inspection - is pending and that can uncover more stuff. I am getting Asbestos inspection done. I plan to pay cash for it. Estimated expense for me - Property tax less than $4000, insurance and umbrella less than $2000 per year each. Rent - $450 per month x 12 months, Utilities will be paid by the 3 tenants (the 4th is my kid who does not pay). There are 5 bedrooms but we at present, are not sure of the last tenant. I will start a LLC and separate bank acc, and CC. Will have a lease signed by kids and their pa...
by Mrxyz
Mon Oct 19, 2020 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

Wow, excellent response guys and gals! So, where do I start? No, I do not wish to save a lot of money or make a lot of money off this deal. The dorm is NOT comfortable or fun to stay. Small, crowded etc. Esp. with COVID not getting better x months, a house with more space, ventilation, same group of house mates MAY be better than drom exposure. Who knows for sure.......but a point to consider none the less. My kid's dorm mate and 2 other friends - all boys. Know each other x >5 years or longer. Which bed room for who? - These house really do not have much size difference in the multiple bedrooms. Like upstairs larger bedroom may face the road and thus noisier, but basement smaller room is less noise and does have a spare living room next to...
by Mrxyz
Sun Oct 18, 2020 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

Re: 2nd house, for Univ. kids/students

OP here. Thanks for all your feedback. Here are some clarifications. Yes, one of the 4 kids is mine. 3 years because - he is currently in college as freshman. I am NOT using this process a way to make money. I am fine if I am even or slightly lower. The money involved is <5% NW. BTW, one kid pays around $8000 per year for dorms = $24,000 over 3 years which I 'save' - at least in theory. Good point about making my kid the property manager. Templates for leasing - where do I find them? Utilities - the 4 kids will share the costs. House and umbrella liability insurance costs need to be added ! Will look into the legal aspects but lots of housing around this house I am looking at who have renters. Yes, it is off campus housing. It is single fam...
by Mrxyz
Sun Oct 18, 2020 1:08 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 8249

2nd house, for Univ. kids/students

Hi I am planning to buy a small house for 4 Univ. students for the next 3 years or so. I want to run some numbers by you and want some recommendations and suggestions; 200k house, I plan to buy it cash. The property tax is around 2k/year. The 4 kids are to pay $400/month plus utilities which will be around $50 per month. So 400 x 4 kids x 12 x 3 years = $57600. I plan to sell the house after 3 years without any profit, at same price. I figure maintenance will be around $5000 per year. What did I miss in the numbers? Do I ask the kids to sign any renter's agreement? How do I get such an agreement? - No I have never been an landlord like this before. Do I get monthly payments from the kids or have every 3 monthly for 'safety'? Do I pay taxes ...
by Mrxyz
Thu Oct 15, 2020 11:29 am
Forum: Personal Investments
Topic: Too cash heavy, but do not know how to begin - please help :)
Replies: 35
Views: 5793

Re: Too cash heavy, but do not know how to begin - please help :)

Change mortgage to 15 year if it is 30 year at present.
You are getting 3% return by paying off mortgage which is pretty good.
by Mrxyz
Mon Oct 12, 2020 10:21 am
Forum: Personal Finance (Not Investing)
Topic: What is the maximum amount I should spend on financial gambling?
Replies: 84
Views: 8197

Re: What is the maximum amount I should spend on financial gambling?

I have always had an interest in financial gambling (i.e. gambling using the financial markets, instead of casinos or racetracks). I day trade futures, holding positions for at most 20 seconds. I treat it as exciting entertainment. Is there a general guideline on the maximum percentage of my disposable income I should spend on such entertainment? Gambling is addictive, so I'm planning to set an nonnegotiable fixed percentage limit. Zero, should be zero........You already have the answer "Gambling is addictive........." You are looking at the hook right now and wondering if you can bite/swallow it and then be able to spit it out later when xyz happens etc.................it will not work. So it should be zero. Stay the course, mak...
by Mrxyz
Fri Oct 02, 2020 8:37 pm
Forum: Personal Investments
Topic: how much to invest in commercial real estate
Replies: 15
Views: 1755

Re: how much to invest in commercial real estate

I am no expert in investing in commercial real estate but wonder if I can suggest you looking at the "need" and "ability" to take the risk.......even if you do not invest this money in real estate, you and your family are well set........Just a suggestion.
Thanks
by Mrxyz
Mon Sep 28, 2020 12:59 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 3606
Views: 562422

Re: Two comma club :)

Congratulations!

Thanks for sharing your story..........it is very inspiring with lot of wise words/advice!!
by Mrxyz
Sat Sep 12, 2020 8:23 pm
Forum: Investing - Theory, News & General
Topic: For those concerned about International Stocks...
Replies: 236
Views: 31686

Re: For those concerned about International Stocks...

I love it when all of smart people like you discuss, argue and dissect stuff like this topic (no offense .. just admiration!).
I can even understand some of it!
So, what is the conclusion?
I have around 23% International in my current AA and its probably okay. However, I am 5-10 years from retirement, and wonder if I need to get rid of international and buy bonds/CD/fixed income to make a 'bond tent' of sorts.

Thanks for all you do!
by Mrxyz
Sat Sep 05, 2020 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: What is PenFed good at?
Replies: 93
Views: 11163

Re: What is PenFed good at?

I have a 5% cashback for gas purchase using their CC.
by Mrxyz
Mon Aug 31, 2020 8:53 am
Forum: Investing - Theory, News & General
Topic: Vanguard seems to have web online sign on problem
Replies: 145
Views: 10093

Re: Vanguard seems to have web online sign on problem

Same here. Unable to load account once I sign on.
by Mrxyz
Thu Aug 27, 2020 10:57 am
Forum: Personal Investments
Topic: What to do/read/follow if retiring in 8-10 years?
Replies: 20
Views: 2401

Re: What to do/read/follow if retiring in 8-10 years?

ruralavalon wrote: Thu Aug 27, 2020 10:56 am
Mrxyz wrote: Mon Aug 24, 2020 1:54 pm Hi
I follow the 3 fund portfolio, with good NW and no EF, no debt and kids 529 paid off. Thinking forward, I plan to retire in 8 to 10 years. So do I keep going forward with my 3 fund portfolio with yearly re-balance with gradual increase in bond allocation until I retire OR do I have to do anything more/different?
Thanks
Makes sense to me.

I agree with the suggestion to track current spending in order to have a solid estimate of your retirement living expenses.
Asking DW to spend more! We are around 50k per year with NW of 4M. But lifestyle is very nominal............I/we are to blame as savings ingrained and bogleheads philosophy and thought processes also helped..............
by Mrxyz
Thu Aug 27, 2020 10:56 am
Forum: Personal Investments
Topic: What to do/read/follow if retiring in 8-10 years?
Replies: 20
Views: 2401

Re: What to do/read/follow if retiring in 8-10 years?

Bond tent, perhaps. https://www.kitces.com/blog/managing-portfolio-size-effect-with-bond-tent-in-retirement-red-zone/ There are reasons for doing this, but when we were actually ready to start building a bond/CD ladder/tent, we turned to increasing our bond funds, instead. For us, it was the simplicity factor. I will reiterate what others have already said. For us, feeling confident has been about getting a grasp on: -current spending and anticipated spending with the lifestyle change -the fungibility of money. really processing this is key for the next point -a full understanding of our different account types and how we will manage income/taxes (and probably ACA subsidies) when we don't have a paycheck coming in -a health insurance plan ...
by Mrxyz
Thu Aug 27, 2020 10:52 am
Forum: Personal Investments
Topic: What to do/read/follow if retiring in 8-10 years?
Replies: 20
Views: 2401

Re: What to do/read/follow if retiring in 8-10 years?

dogagility wrote: Tue Aug 25, 2020 1:45 pm Bond tent, perhaps. https://www.kitces.com/blog/managing-po ... -red-zone/
Very fascinating read!
What is interesting is that I have read this many moons ago and did not make much sense! But NOW when it is relevant to my situation it makes a lot of sense! Basically, I understand it way better.
Question- Does Kitces assume there WILL be a market downturn and thus a bond tent will protect you OR does he want a bond tent just to be safer?
Many thanks!
by Mrxyz
Mon Aug 24, 2020 2:27 pm
Forum: Personal Investments
Topic: What to do/read/follow if retiring in 8-10 years?
Replies: 20
Views: 2401

Re: What to do/read/follow if retiring in 8-10 years?

arcticpineapplecorp. wrote: Mon Aug 24, 2020 1:58 pm sounds right. estate planning and/or long term care concerns (insurance?)
Thanks for the reply!

Estate planning has NOT been done yet (gulp!, yes, I/we know, we need to get it done!)
Long term care - Do not have insurance -- very confused with options presented to us. Any good resources?
by Mrxyz
Mon Aug 24, 2020 1:54 pm
Forum: Personal Investments
Topic: What to do/read/follow if retiring in 8-10 years?
Replies: 20
Views: 2401

What to do/read/follow if retiring in 8-10 years?

Hi
I follow the 3 fund portfolio, with good NW and no EF, no debt and kids 529 paid off. Thinking forward, I plan to retire in 8 to 10 years. So do I keep going forward with my 3 fund portfolio with yearly re-balance with gradual increase in bond allocation until I retire OR do I have to do anything more/different?
Thanks