Search found 169 matches

by NYC_Guy
Sat Dec 02, 2017 10:46 pm
Forum: Personal Finance (Not Investing)
Topic: Best Financial Moves You've Made
Replies: 158
Views: 21670

Re: Best Financial Moves You've Made

Leaving first job, borrowing money and going back to grad school. My ROI exceeds bitcoin returns over past few years.
by NYC_Guy
Sat Dec 02, 2017 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: Empty nesters, how did your finances change when the birds left the nest
Replies: 25
Views: 2289

Re: Empty nesters, how did your finances change when the birds left the nest

My expenses have gone up. We save a bit on food, clothing and car expenses. But my wife and I travel a lot more than before, and those trips are super expensive. Worth every penny, though.
by NYC_Guy
Sun Nov 26, 2017 8:55 am
Forum: Investing - Help with Personal Investments
Topic: Best way to liquidate Wealthfront
Replies: 27
Views: 2523

Re: Best way to liquidate Wealthfront

NYC_Guy, boglebrain, livesoft: Got a few things from your replies: - DI can make sense if you contribute frequently - >50% marginal tax rate means DI makes a little more sense - if you made one large lump sum contribution and little later, DI makes less sense - NYC_Guy, sounds like you would be OK ...
by NYC_Guy
Sat Nov 25, 2017 8:39 am
Forum: Investing - Help with Personal Investments
Topic: Best way to liquidate Wealthfront
Replies: 27
Views: 2523

Re: Best way to liquidate Wealthfront

jampana: Welcome to the Bogleheads Forum! Around 40% of the portfolio is in US stocks - 490 different stocks from the S&P 1000 at this time. They seem to buy and sell 10-20 individual stocks a week as the systems does TLH. Seems to me everything is short term taxable. I understand why you might be ...
by NYC_Guy
Mon Nov 20, 2017 7:23 am
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey says don't use credit cards, even if you pay them off
Replies: 221
Views: 13936

Re: Dave Ramsey says don't use credit cards, even if you pay them off

Credit Cards were simply a money making invention of the financial industry that produce profits by encouraging irresponsible consumer habits and pushing asinine fees on them as a side dish. Even though that is true, the heart of the matter is that credit cards are just as antiquated as checks and ...
by NYC_Guy
Wed Nov 15, 2017 12:32 pm
Forum: Personal Consumer Issues
Topic: Flying first class, business, versus economy.
Replies: 184
Views: 16804

Re: Flying first class, business, versus economy.

For those needing a visual to help you survive the coach seating experience, consider the following: "You've just settled in your business class seat, the flight attendant approaches and asks if you would be willing to move back ten feet - to coach. As compensation she will deliver to you each and ...
by NYC_Guy
Wed Nov 15, 2017 11:41 am
Forum: Personal Consumer Issues
Topic: Office Chair Recommendations (Aeron?)
Replies: 37
Views: 2205

Re: Office Chair Recommendations (Aeron?)

Freedom Headrest from Humanscale. Changed my life (substantially eliminated back and shoulder pain). I also have a stand-up desk, but I still end up sitting a lot. It's not cheap, though. Starts at $1100. I think a desk chair and a good mattress are investments (in mental and physical health).
by NYC_Guy
Mon Nov 13, 2017 1:25 pm
Forum: Investing - Theory, News & General
Topic: At what rate of return would you keep a whole life policy?
Replies: 21
Views: 1509

Re: At what rate of return would you keep a whole life policy?

What rate of return would you use in determining whether to keep a whole life policy? I've been looking at some whole life policies that family members have (they have been bad investments, but the question is whether to keep them going forward). The overall return of the policy has been abysmal, b...
by NYC_Guy
Fri Nov 10, 2017 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Strategy for repaying wife's law school loans
Replies: 23
Views: 2030

Re: Strategy for repaying wife's law school loans

You make 200K per year. Be done with this in 12 months. Why bother playing the loan forgiveness game? You've bought a wedding and an expensive house. Time to pay your debts. Buckle down and knock it out in two years and move on with your lives. So true. I would play this slightly differently. As lo...
by NYC_Guy
Sun Nov 05, 2017 9:25 am
Forum: Personal Finance (Not Investing)
Topic: term insurance renewal, now i'm high risk - "special situation"?
Replies: 17
Views: 1603

Re: term insurance renewal, now i'm high risk - wl/ul worth looking at?

Hi, I'm 50, my 15 year term policy is about to end so I wanted to purchase another 15 year term (for $500K). We're a two wage earner family, have a 6 year old son, this is to pay off the mortgage so we don't need to move should anything happen until my son is out of the house. (Just wanted coverage...
by NYC_Guy
Fri Nov 03, 2017 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: New Car: Ever make sense to lease?
Replies: 84
Views: 5585

Re: New Car: Ever make sense to lease?

I think it's fascinating that consensus here now is that a major technological revolution will wipe out the value of ICE cars within 5-10 years. We just bought a new ICE that I plan to keep for the next 10-20 years, so that's disconcerting, but I also welcome a shift to all self-driving cars as muc...
by NYC_Guy
Fri Nov 03, 2017 7:27 am
Forum: Investing - Help with Personal Investments
Topic: Should I invest my emergency fund?
Replies: 29
Views: 3192

Re: Should I invest my emergency fund?

I use I bonds for my emergency fund. If you are targeting for example, a $60,000 EF, I’d suggest building the EF up in a higher yielding savings account (eg, at Ally). Once you are at the target, I would put $20,000 per year (assuming you are married) into I bonds. The first year you do that, don’t ...
by NYC_Guy
Tue Oct 31, 2017 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: New Car: Ever make sense to lease?
Replies: 84
Views: 5585

Re: New Car: Ever make sense to lease?

From a financial perspective leasing NEVER makes sense. 1) Leases are based on projected/estimated miles. If you drive less miles, you do not get credit and the leasing company comes out ahead. If you exceed the miles allowed, you get whacked with extra mileage penalties. Some lessors may cut you s...
by NYC_Guy
Mon Oct 30, 2017 10:51 pm
Forum: Personal Finance (Not Investing)
Topic: New Car: Ever make sense to lease?
Replies: 84
Views: 5585

Re: New Car: Ever make sense to lease?

Generally buy, hold and care for a car to minimize long term cost of ownership. But we are in a unique period of transition. I would not buy an internal combustion engine right now. If I had to acquire a new vehicle now, I would lease an ICE for 3 or 4 years to bridge to the next generation of elect...
by NYC_Guy
Sun Oct 29, 2017 5:42 pm
Forum: Investing - Help with Personal Investments
Topic: Variable Annuity for HY Bonds
Replies: 1
Views: 196

Variable Annuity for HY Bonds

I am considering using a VA wrapper for an investment in high yield bonds. I would appreciate any tips or suggestions from those that have used a VA for inefficient asset classes. Looks like Vanguard may be my best solution, but I’d like to hear from people that have actual VA experience at Vanguard...
by NYC_Guy
Fri Oct 27, 2017 3:40 pm
Forum: Personal Consumer Issues
Topic: Limit on carrying physical cash during domestic US flights
Replies: 35
Views: 3374

Re: Limit on carrying physical cash during domestic US flights

barnaclebob wrote:
Fri Oct 27, 2017 2:33 pm
Why do you need to carry that much cash? Flying to buy a car off craigslist? Pay a contractor at a vacation home for a kitchen remodel?
Vegas, Kentucky Derby. Often easier than setting up a line of credit with the house.
by NYC_Guy
Fri Oct 27, 2017 3:35 pm
Forum: Personal Consumer Issues
Topic: Limit on carrying physical cash during domestic US flights
Replies: 35
Views: 3374

Re: Limit on carrying physical cash during domestic US flights

Is there a limit on taking cash on-board domestic US flights ? I understand taking millions may raise eye-brows but what about a smaller amount like $40k ? I heard about the customs rule but that only applies for international passengers flying into US. Would TSA stop you from boarding if you are c...
by NYC_Guy
Wed Oct 25, 2017 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy Analysis
Replies: 53
Views: 2772

Re: Whole Life Policy Analysis

simas wrote:
Wed Oct 25, 2017 6:32 pm
all of the scambags selling mutual funds with front loads are saints compare to losers to sell this as "investment"
Here we are in absolute agreement. Buying the policy in the first place was a big mistake by OP’s parents.
by NYC_Guy
Wed Oct 25, 2017 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy Analysis
Replies: 53
Views: 2772

Re: Whole Life Policy Analysis

"I challenge you to do the calculation yourself. You will see this has been accounted for." I already done. please re-read it Yield = CURRENT DIVIDEND: $367.82/CASH VALUE: $14,577.96 =2.52% 30 year term for 42 y.o. male is $280 as sample quote Cost of your yield = $708 premium -$280 cost of term in...
by NYC_Guy
Wed Oct 25, 2017 4:13 pm
Forum: Investing - Help with Personal Investments
Topic: Should I put all bonds in our IRAs?
Replies: 5
Views: 531

Re: Should I put all bonds in our IRAs?

By chance our IRAs are 20% of our savings and Roth IRAs are 80% (ignoring some cash). Target Asset Allocation is 75/25 equity/bond. Any reason not to put only bonds in the IRAs? I would think this is better - I'd rather have the Roths grow more than the IRAs. All accounts are with Vanguard. Thanks!...
by NYC_Guy
Wed Oct 25, 2017 4:09 pm
Forum: Personal Consumer Issues
Topic: metal roof: standing seam vs interlocking panels
Replies: 15
Views: 1414

Re: metal roof: standing seam vs interlocking panels

Another vote for the standing seam. I have a standing seam copper roof on a small portion of my house (the rest is slate). I love it, including the look. Snow guards may be needed, though. I would steer clear of the interlock product.
by NYC_Guy
Wed Oct 25, 2017 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy Analysis
Replies: 53
Views: 2772

Re: Whole Life Policy Analysis

Unfortunately the pro WL posters continue to misunderstand how to properly evaluate the entire financial situation of these type of junk policies (reminder, see the top thread of this page on warning about WL threads and posters) . The return is not what is on paper (nor what has been calculated in...
by NYC_Guy
Wed Oct 25, 2017 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy Analysis
Replies: 53
Views: 2772

Re: Whole Life Policy Analysis

Your parents bought this in 1996, so after 21 years it is worth. 14k? I would cash in. Se the money for term insurance. Or something else. Your parents made a bad mistake, why keep it going? You can do better investing at Vanguard in total bond. How? What AA+ credit with zero duration will pay him ...
by NYC_Guy
Tue Oct 24, 2017 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy Analysis
Replies: 53
Views: 2772

Re: Whole Life Policy Analysis

Your parents bought this in 1996, so after 21 years it is worth. 14k? I would cash in. Se the money for term insurance. Or something else. Your parents made a bad mistake, why keep it going? You can do better investing at Vanguard in total bond. How? What AA+ credit with zero duration will pay him ...
by NYC_Guy
Tue Oct 24, 2017 8:31 pm
Forum: Investing - Help with Personal Investments
Topic: Moving back to active: Will Vanguard beat American Funds by 0.24%?
Replies: 6
Views: 1226

Re: Moving back to active: Will Vanguard beat American Funds by 0.24%?

I don’t think you’re crazy for doing this. But, as you mention, that active fund is likely to have a reduced beta. Consider whether you want to up your beta exposure elsewhere. Or alter your AA.
by NYC_Guy
Mon Oct 23, 2017 10:15 pm
Forum: Personal Finance (Not Investing)
Topic: Does anyone here with net worths north of $1 mil use financial advisors?
Replies: 175
Views: 18141

Re: Does anyone here with net worths north of $1 mil use financial advisors?

I have a (1) CPA/tax guy, (2) a trust/will lawyer, (3) a life insurance broker, (4) a banker (for mortgages and credit lines) and (5) a p&c/liability insurance broker. I have occassionally used my banker’s fixed income desk to buy bonds. But as a general matter, I do not pay anyone to manage my equi...
by NYC_Guy
Mon Oct 23, 2017 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy Analysis
Replies: 53
Views: 2772

Re: Whole Life Policy Analysis

Yes, I would cancel it. Get some extra term insurance if you want more insurance and invest the remainder. This is not a savings account. If you want to think of it as a savings account you need to calculate the value for what you can actually put in your pocket at any time as a fully liquid accoun...
by NYC_Guy
Mon Oct 23, 2017 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy Analysis
Replies: 53
Views: 2772

Re: Whole Life Policy Analysis

Yes, I would cancel it. Get some extra term insurance if you want more insurance and invest the remainder. This is not a savings account. If you want to think of it as a savings account you need to calculate the value for what you can actually put in your pocket at any time as a fully liquid accoun...
by NYC_Guy
Mon Oct 23, 2017 6:25 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Financing with no Credit Score
Replies: 30
Views: 1633

Re: Mortgage Financing with no Credit Score

I feel for you. Your best bet is likely a local credit union.

I’d also take out a credit builder loan and open a credit card account asap.
by NYC_Guy
Sat Oct 21, 2017 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for medical school for son?
Replies: 79
Views: 5164

Re: Paying for medical school for son?

If the future of the program, especially for high earning professionals, is uncertain, does it make sense to let them borrow the money and see what happens? If the cost of borrowing is relatively low, we could decide what level of financial assistance is needed at a later date. I would. I wouldn’t....
by NYC_Guy
Fri Oct 20, 2017 12:14 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance
Replies: 36
Views: 1814

Re: Whole Life Insurance

There’s a lot of knee jerk reaction in this thread. Sounds like the policy was overfunded early (probably up to the MEC limits). It doesn't surprise me at all that the policy is now entering a time of very nice returns. That often happens ~20 years into the policy. A bit earlier if overfunded at the...
by NYC_Guy
Sat Oct 14, 2017 10:54 am
Forum: Investing - Help with Personal Investments
Topic: X times salary, backwards calculation?
Replies: 23
Views: 2400

Re: X times salary, backwards calculation?

Hi all: I'm trying to determine if there is a backward applicable formula to arrive at how much retirement savings one should have. For example, if a rule of thumb is that one should have 12X annual salary to retire at 65, what is the ratio for each year EARLIER one would like to retire? If I'm goi...
by NYC_Guy
Wed Oct 11, 2017 1:03 pm
Forum: Personal Consumer Issues
Topic: Pro and cons of the Prime offer by Amazon.......
Replies: 39
Views: 3945

Re: Pro and cons of the Prime offer by Amazon.......

We probably receive 75 - 100 packages per year from Amazon. We also use the Pantry service. Almost all of my electronics, tools and general household items come from Amazon. Prime is a great deal for us. And the music/video streaming is a big bonus. So much so that I dropped Netflix and Sirius inter...
by NYC_Guy
Tue Oct 10, 2017 12:04 pm
Forum: Investing - Theory, News & General
Topic: Getting deeper small-cap value exposure in taxable is almost free
Replies: 31
Views: 5042

Re: Getting deeper small-cap value exposure in taxable is almost free

Hi NYC_Guy, I realize this thread is 7 months old. But I was digging into some SCV ETF data. I hold SLYV, VIOV, and IJS, in various accounts, for various reasons which make sense to me. SLYV tracks the same index as the other two, no? SLYV has an ER of 0.15%, 10 basis points lower than IJS. Also, t...
by NYC_Guy
Sat Oct 07, 2017 5:37 am
Forum: Personal Consumer Issues
Topic: Best credit cards for our college kids? (credit building)
Replies: 9
Views: 668

Re: Best credit cards for our college kids? (credit building)

I like UNFCU for college kids. I opened an account there and then got a credit card with a $10,000 limit to which I added both my college age children as authorized users. Their credit card is a true Chip+PIN card (first priority is PIN). That was super handy for both of them when they studied abroa...
by NYC_Guy
Sat Sep 23, 2017 7:16 pm
Forum: Personal Consumer Issues
Topic: Lifestyle Creep
Replies: 142
Views: 12319

Re: Lifestyle Creep

Thanks in advance for anything you share here! I have renewed interest in learning about and increasing my own awareness of lifestyle creep. I am hoping others will share personal situations where they experienced or resisted this issue. What have you dealt with? What creep came into your life that...
by NYC_Guy
Sat Sep 23, 2017 6:55 pm
Forum: Personal Consumer Issues
Topic: Anyone used Amazon to buy household goods
Replies: 26
Views: 2067

Re: Anyone used Amazon to buy household goods

Have you used Amazon to buy household goods? (We have Prime so we get free shipping.) Do you think you can save money on things like laundry detergent and papers towels, etc? Thanks in advance! If it has a lot of water in it (drinks, liquid detergent, etc), my wife usually buys from Costco. If not,...
by NYC_Guy
Fri Sep 22, 2017 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Large Mortgage
Replies: 24
Views: 2440

Re: Large Mortgage

I know fixed vs adjustable has been covered somewhat on this forum but wanted to ask about my situation. I am about to take out a mortgage or $2.5M. I can get a fixed 30 year for 3.125% or get 2.5% 7/1 ARM. I calculated that in 7 years I would save about $150k with the 7/1 and could then just pay t...
by NYC_Guy
Thu Sep 21, 2017 11:04 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Policy to "shelter" money from Financial Aid calculations
Replies: 23
Views: 1385

Re: Life Insurance Policy to "shelter" money from Financial Aid calculations

Teen P., thank you much appreciated. My biggest concern is to refinance and cash out of the equity in my home to shelter it from these calculations. The math dose work if the home equity is part of the "available" funds (inclusive of policy fees and commissions). If home equity is not considered it...
by NYC_Guy
Thu Sep 21, 2017 10:34 pm
Forum: Investing - Help with Personal Investments
Topic: I won the Lottery. Need sound advice.
Replies: 220
Views: 25327

Re: I won the Lottery. Need sound advice.

I am just over 40 years old. We have 2 children who have about 10-15 years before College. I'd like to fund about 75-80% of their college education. I don't want to give them a "free ride", I'd like my kids to learn the value of money, and work for it. Comedic genius. :D Almost every sentence in yo...
by NYC_Guy
Thu Sep 21, 2017 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Policy to "shelter" money from Financial Aid calculations
Replies: 23
Views: 1385

Re: Life Insurance Policy to "shelter" money from Financial Aid calculations

TBA, The situation you are in matches exactly the reason I came to Bogleheads to ask essentially the same question you did. I was ready to cash in $350k in US Savings bonds and put them with a "College Financial Planner" who had set up a Whole Life policy for my wife. The insurance company nurse ha...
by NYC_Guy
Thu Sep 21, 2017 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Policy to "shelter" money from Financial Aid calculations
Replies: 23
Views: 1385

Re: Life Insurance Policy to "shelter" money from Financial Aid calculations

I have a child that is looking to attend an elite school. I have about $50K in a 529 and additional savings that could be used for tuition. I will not have enough to fully fund the expense. I have been told that I can buy a Life insurance policy and stash cash in the "account" and that this cash wi...
by NYC_Guy
Mon Sep 18, 2017 10:21 pm
Forum: Investing - Help with Personal Investments
Topic: Take The Lump Sum or The Immediate Annuity?
Replies: 34
Views: 3363

Re: Take The Lump Sum or The Immediate Annuity?

I have to make a decision shortly to take my pension plan as a lump sum of $197,800 or an immediate annuity for myself of $1,170/mo. Looking at Vanguard's annuity calculator they offer $1,085/mo. I'm 65 in good health, married to a 60 wife, no children, both retired and taking social security at 70...
by NYC_Guy
Fri Sep 15, 2017 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Let's talk about your FI # and family income [Financial Independence]
Replies: 183
Views: 20237

Re: Let's talk about your FI # and family income

Yep, it is all about expenses and almost nothing to do with family income. And I'll throw out another twist: I think in 2006 our investable assets were about 6X family income and we could have been considered financially independent (we know how to live well below our means). But 2008-2009 our inve...
by NYC_Guy
Tue Sep 12, 2017 9:35 pm
Forum: Personal Consumer Issues
Topic: Iphone X is $1000
Replies: 385
Views: 26397

Re: Iphone X is $1000

investing1012 wrote:
Tue Sep 12, 2017 1:59 pm
Holy $$$, Iphone X is $1000
Seems reasonable for the most important device/tech I have. I'd give up my car before I give up my smartphone.
by NYC_Guy
Wed Aug 23, 2017 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: When have you achieved financial independence?
Replies: 27
Views: 4448

Re: When have you achieved financial independence?

Props to you for spending $24k a year. We spend more than that a month. Good on you! :sharebeer :shock: How? Now I have two young kids, I'm seeing the effects of lifestyle creep first-hand. Please share your experience so I know what to expect in the future. HCOL area, a couple of expensive vacatio...
by NYC_Guy
Sat Jul 22, 2017 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Teenager taking out loans to establish good credit
Replies: 24
Views: 1659

Re: Teenager taking out loans to establish good credit

+1 to everything. Add, pay the loan monthly and do not let the loan "capitalize" interest. Our CreditUnion Visa card is 7.5%. Avoid more than 33% of CC capacity. Pay at least minimum payment to avoid capitalization of interest Open up a checking account. Get a VisaCard. Use checking account pay Vis...
by NYC_Guy
Sun Jul 16, 2017 7:14 pm
Forum: Investing - Help with Personal Investments
Topic: Help! no access to 401k
Replies: 11
Views: 1021

Re: Help! no access to 401k

Whole life is the rich mans garbage pile. These products are absolute junk for everyone. Not true. There's a proper use for them. But you need to have a very specific set of conditions to make proper use of them. WCI has a god set of materials on it. As an aside and to be responsive to the OP, $185...
by NYC_Guy
Thu Jul 13, 2017 7:11 am
Forum: Personal Finance (Not Investing)
Topic: Do you count vehicle equity in net worth?
Replies: 203
Views: 11858

Re: Do you count vehicle equity in net worth?

Cars and houses are liabilities, not assets. Even if you sell them, you have to buy or lease replacements. I guess they might be assets after you're dead. I completely disagree with this. I could easily downsize (sell my weekend/vacation house, sell my main house and move to a very nice condo) and ...
by NYC_Guy
Thu Jul 13, 2017 7:07 am
Forum: Personal Finance (Not Investing)
Topic: Do you count vehicle equity in net worth?
Replies: 203
Views: 11858

Re: Do you count vehicle equity in net worth?

As the subject says and just curious what the majority is. If you do, where do you draw the line? Count jewelry and other objects? Seems excessive and unnecessary. I've always thought of net worth as most reference it as no more than cash, investments, and home equity. I do. When I buy a car (which...