Search found 383 matches

by Wellfleet
Tue Oct 17, 2017 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Buy a rental property before primary home?
Replies: 17
Views: 1161

Re: Buy a rental property before primary home?

Tomtom, this looks like an annual post from you, there were ones in 2016, 2015, 2014. Can you update us on what has changed in your situation so we can help you out! :beer
by Wellfleet
Mon Oct 16, 2017 12:14 pm
Forum: Investing - Theory, News & General
Topic: Life-insurance for young couple. Advice?
Replies: 23
Views: 1638

Re: Life-insurance for young couple. Advice?

Spouse and I each have 10X current salaries (early 30s). If needed, either of us would have the spouses salary plus social security equal to current salaries, using a 4% withdrawal rate.
by Wellfleet
Mon Oct 16, 2017 7:34 am
Forum: Personal Consumer Issues
Topic: contributing to friend's non-profit?
Replies: 36
Views: 1754

Re: contributing to friend's non-profit?

I'd probably go to show support to a friend's venture (non-profit, new business or otherwise).

On the other side of the coin, I ignore social media based charity requests daily.
by Wellfleet
Wed Oct 11, 2017 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Boston area Relocation...major decision points
Replies: 34
Views: 2783

Re: Boston area Relocation...major decision points

It depends on how much you like the idea of living in the Boston area and how much you want the job vs. how much you are willing to compromise financially in terms of home size etc relative to the benefits your community offers you, as you define that. Some may define it by family and friends, publ...
by Wellfleet
Thu Oct 05, 2017 7:52 am
Forum: Personal Finance (Not Investing)
Topic: How much worth house should one buy?
Replies: 73
Views: 4118

Re: How much worth house should one buy?

My rules: 1) The PITI of the house you buy should be 20% to 30% lower than the house that you are renting. 2) Your net worth excluding the house should be at least 2.5 to 3 times the price of the house. KlangFool I like your rules but how do you reconcile differences in rentals versus houses? The a...
by Wellfleet
Tue Oct 03, 2017 3:41 pm
Forum: Personal Consumer Issues
Topic: Do I have to choose between buying home in HCOL and FIRE or can I have both?
Replies: 35
Views: 2533

Re: Do I have to choose between buying home in HCOL and FIRE or can I have both?

You also might consider renting a nicer place that has some amenities that could keep you from wanting a house so quickly. We got really tired of shared and often broken laundry, poor parking, noisy neighbors and non-responsive landlords...but the place was cheap. In net, it might have been cheaper ...
by Wellfleet
Tue Oct 03, 2017 10:46 am
Forum: Personal Consumer Issues
Topic: Do I have to choose between buying home in HCOL and FIRE or can I have both?
Replies: 35
Views: 2533

Re: Do I have to choose between buying home in HCOL and FIRE or can I have both?

If your monthly budget is $9,000-10,000, an annual ~$110-120K, many on here would suggest that you have 25x annual expenses saved. So can you save $ 2.5-3 million within your FIRE timeframe?
by Wellfleet
Wed Sep 27, 2017 11:51 am
Forum: Personal Finance (Not Investing)
Topic: I have an idea I want to bring to market
Replies: 30
Views: 1715

Re: I have an idea I want to bring to market

The Small Business Administration has resources on building a small business. Alternatively in many cities and at many colleges there are "startup" incubators that are entrepreneurship environments that would provide you some free guidance about where to start.
by Wellfleet
Mon Sep 18, 2017 2:13 pm
Forum: Personal Consumer Issues
Topic: Getting (young) kids interested in coding
Replies: 81
Views: 5021

Re: Getting (young) kids interested in coding

I've noticed that my friends who have turned out to have the most quantitative ability (engineers, accountants, medical professionals) watched a lot of tv and played lots of video games unlike myself growing up so who knows.
by Wellfleet
Tue Sep 12, 2017 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Large portable generator vs. permanent natural gas generator for home
Replies: 67
Views: 4159

Re: Large portable generator vs. permanent natural gas generator for home

Thanks. What do you think the cost would run nowadays? 5-8k? Here are some options from Costco: https://www.costco.com/CatalogSearch?keyword=Generator&pageSize=96 Then add the electrical and plumbing work to install. I bought a portable Champion unit 8 kW duel fuel, gas/propane (no gas service avai...
by Wellfleet
Thu Sep 07, 2017 8:22 am
Forum: Personal Consumer Issues
Topic: Vacation after minor hurricane?
Replies: 25
Views: 1964

Re: Vacation after minor hurricane?

I'd cancel and book elsewhere. I can't imagine that it is relaxing thinking about the scenarios, and planning a vacation is part of the mental benefit.
by Wellfleet
Tue Sep 05, 2017 7:16 am
Forum: Personal Finance (Not Investing)
Topic: How to break into new field?
Replies: 49
Views: 3296

Re: How to break into new field?

What about sales in the sports field? Sounds very appealing, just knowing how and where? Are there companies that sell your school or school system athletic goods and services like training programs, gym equipment, jerseys, fancy lawnmowers to mow the fields, etc.? Look them up and ask for informat...
by Wellfleet
Tue Aug 29, 2017 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Salary History for Chemical Engineer
Replies: 30
Views: 4920

Re: Salary History for Chemical Engineer

I have a liberal arts undergrad degree and a STEM graduate degree and I'm close to this, excluding the 2 years I worked part time while in graduate school.
by Wellfleet
Thu Aug 24, 2017 9:09 am
Forum: Personal Finance (Not Investing)
Topic: What to do when a parent's money runs out?
Replies: 218
Views: 31464

Re: What to do when a parent's money runs out?

Good luck, I am hoping to avoid a similar fate.

We are close to convincing mom to sell the big house and move to an apartment and invest the proceeds in a SPIA- I think. Fortunately she will get a decent pension.
by Wellfleet
Tue Jul 25, 2017 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Driveway On Neighbours Land
Replies: 30
Views: 2299

Re: Driveway On Neighbours Land

I would certainly get my own survey performed and see where that goes.
by Wellfleet
Fri Jul 21, 2017 10:09 am
Forum: Personal Consumer Issues
Topic: Scooter for local commute - Honda PCX 150, etc...
Replies: 44
Views: 2568

Re: Scooter for local commute - Honda PCX 150, etc...

Details: Short commute of only about 2.5 miles one way on city streets. Includes some pretty steep hills which means riding the bicycle or power walking to work involves arriving at work dripping wet with sweat. Driving a car seems to be a waste, not to mention finding parking is a daily major pain...
by Wellfleet
Wed Jul 19, 2017 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Rates in 3 years?
Replies: 26
Views: 2581

Re: Mortgage Rates in 3 years?

- Both of us have an excellent credit score (750+) - 1 has a job (me) - about 80k/year salary by the time I get the house. - I have 60k saved up. - Will probably live in a suburb near Boston, MA A lot will probably change for you in the next three years. My salary has increased by 40% in three year...
by Wellfleet
Tue Jul 11, 2017 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: How to save for and finance house move up
Replies: 64
Views: 3680

Re: How to save for and finance house move up

I vote middle ground. Knock out the loans and then move on up. I'm in the same area BTW. We are homebodies and love being around the house. It would be tough to have the nice house and add big vacations, sox tickets, lots of eating out.
by Wellfleet
Mon Jul 10, 2017 12:52 pm
Forum: Investing - Theory, News & General
Topic: The cost of car ownership
Replies: 51
Views: 3745

Re: The cost of car ownership

Wakefield1 wrote:Oh for the day when a new 1966 Oldsmobile Delta 88 cost under $5000.
That's $38,000 today! :happy
by Wellfleet
Wed Jul 05, 2017 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy this house?
Replies: 50
Views: 4641

Re: Should I buy this house?

I've got car or boat friends and many of them rent or own shops in small industrial parks where the toys are kept, beer consumed, and engines worked on.

I would think this would be a great option.
by Wellfleet
Thu Jun 22, 2017 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: New Baby - Wife stay at home for 1 year?
Replies: 48
Views: 4553

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

We did it and you are much better off than I was. I was making $65k at the time, spouse $50k and renting $1,700 month apartment.

A year is a nice middle ground for those who are resistant to leave the workforce, have the option to, and obviously extend far beyond the 8-12 week standard.
by Wellfleet
Mon Jun 19, 2017 2:03 pm
Forum: Personal Consumer Issues
Topic: New Septic System for my Parents
Replies: 10
Views: 988

Re: New Septic System for my Parents

In this case, I would think it's safest to first contact an engineer for a quote to assess the property. Once the assessment is complete and we know exactly what has to happen, we can bid the job out to a variety of contractors. I would prefer to have an independent engineer working for me who woul...
by Wellfleet
Mon Jun 19, 2017 11:39 am
Forum: Personal Consumer Issues
Topic: New Septic System for my Parents
Replies: 10
Views: 988

Re: New Septic System for my Parents

The first thing I would research is what their municipality has in it's regulations regarding replacing septic systems. My village is very specific on what can and can not be done. If you are replacing an existing "failed" system, the regs are fairly onerous. Yes, county or town/city sanitarian/boa...
by Wellfleet
Fri Jun 09, 2017 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: (Very) Early Retirement vs Parenthood
Replies: 74
Views: 5307

Re: (Very) Early Retirement vs Parenthood

I have children and love them but I would not put any one down for making a decision to not have children themselves. They are alot of work!
by Wellfleet
Thu Jun 01, 2017 5:24 pm
Forum: Personal Consumer Issues
Topic: Fidelity 2000 'bonus points'
Replies: 32
Views: 3023

Re: Fidelity 2000 'bonus points'

Johnny Thinwallet wrote:I think it's real.

I got the same offer today. Here's the kicker, though: the amount of mine is different than your amount. I only have to spend $1,850 to start accumulating toward the bonus points.
$3200 for me.
by Wellfleet
Mon May 08, 2017 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: How to start a scholarship?
Replies: 9
Views: 1049

Re: How to start a scholarship?

I'm involved with a couple of professional associations and they just make a committee, solicit applications and make an award to whomever they choose. For a possibly more legitimately route, you might contact a local high school's guidance department, I'm sure they would help organize it. I was the...
by Wellfleet
Mon May 08, 2017 8:38 am
Forum: Personal Consumer Issues
Topic: College Reunion Vacation
Replies: 13
Views: 963

Re: College Reunion Vacation

With families, toddlers, kids, and whatever, I would suggest that you all don't rent a large beach house. Instead, find a beach complex that has multiple condominiums in the same building that also has a swimming pool. There are several advantages to this: This is a great suggestion. I agree with a...
by Wellfleet
Mon May 08, 2017 8:19 am
Forum: Personal Consumer Issues
Topic: College Reunion Vacation
Replies: 13
Views: 963

Re: College Reunion Vacation

What kind of vacation are you looking for? Partying, going out? Or, quiet hanging out? Spouses or kids coming on the trip or not? Yes, forgot that key detail. Spouses and kids, toddlers being the oldest would be coming so a big beach or lake house would be perfect where we can hang on the beach or ...
by Wellfleet
Sun May 07, 2017 8:44 pm
Forum: Personal Consumer Issues
Topic: College Reunion Vacation
Replies: 13
Views: 963

College Reunion Vacation

My friends and I are kicking around the idea of renting a beach house for a long weekend in the summer of 2018 as a college reunion of sorts. Most of us live in the Northeast and are familiar with Cape Cod, New Hampshire, Maine and wouldn't mind something a bit cheaper and a change of scenery. The o...
by Wellfleet
Fri May 05, 2017 2:38 pm
Forum: Personal Consumer Issues
Topic: Honda vs. Mazda vs. Ford
Replies: 40
Views: 3366

Re: Honda vs. Mazda vs. Ford

OP, from previous posts I see that you are in sales. Any chance of a company car in the near future? We see a number of posters on here who find themselves with a late model car and company car and not sure what to do. Hate to see you buy a new car when a company car could be in the future.
by Wellfleet
Fri May 05, 2017 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Incentivising Kids
Replies: 22
Views: 1682

Re: Incentivising Kids

The big themes I've seen on here is really not to focus on money but to build a well rounded child where one outcome is that they are prepared to earn and manage money.

You might consider Richard Scarry's What do People Do All Day: https://www.amazon.com/What-Do-People-A ... 0394818237
by Wellfleet
Thu May 04, 2017 1:20 pm
Forum: Personal Consumer Issues
Topic: Buying first home with old hvac
Replies: 92
Views: 5491

Re: Buying first home with old hvac

I bought a 47 year old house and built assumptions for these expected needs into my offer price. Based on my tour during the open house, I assumed that it needed a new roof, boiler, some level of plumbing/electrical, paint and some other stuff. So essentially my willingness to pay was the price plus...
by Wellfleet
Thu May 04, 2017 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Payment Question
Replies: 6
Views: 629

Mortgage Payment Question

The way my online loan servicing works for my mortgage is that I transfer 25% of the mortgage payment weekly to my credit union's savings account and then make the full mortgage payment a few days before the due date. I have direct deposit at another bank. It seems possible that I could just pay my ...
by Wellfleet
Thu May 04, 2017 9:08 am
Forum: Personal Consumer Issues
Topic: Where to Live on $60K or Less a Year?
Replies: 248
Views: 29563

Re: Where to Live on $60K or Less a Year?

Mass not being a low tax state is an understatement. Also realize that Western Mass gets almost nothing from the state legislature in terms of roads, economic development, etc. Property tax rate in Amherst is $21/$1000. Could find a comparable place 20 miles north in NH with no income tax or sales ...
by Wellfleet
Wed May 03, 2017 1:25 pm
Forum: Personal Consumer Issues
Topic: Where to Live on $60K or Less a Year?
Replies: 248
Views: 29563

Re: Where to Live on $60K or Less a Year?

One town outside Amherst Massachusetts, home of University of Massachusetts and Amherst College. Believe it or not. In a valley so mostly avoids snowstorms that pound eastern Massachusetts. Winter cold is certainly main downside but fills almost all other characteristics. Bradley airport 1 hour away...
by Wellfleet
Fri Apr 28, 2017 2:05 pm
Forum: Personal Consumer Issues
Topic: A Game of "Who is responsible"
Replies: 45
Views: 3403

Re: A Game of "Who is responsible"

If you hope to maintain a good relationship with the plumber for future work, pay up and move on.

If you don't care, fight the good fight.

I'd pay to make it go away.
by Wellfleet
Fri Apr 28, 2017 12:21 pm
Forum: Personal Consumer Issues
Topic: Buying car remotely (from TX) for family in MN
Replies: 1
Views: 258

Re: Buying car remotely (from TX) for family in MN

For a new car, I would do the recommended email bidding with 3-5 dealers and then direct your family to show up with a check at the winner bidder's dealer. Given that you are suggesting a used car, I think CarMax would be the minimal amount of hassle, and OK but maybe not super great price.
by Wellfleet
Fri Apr 28, 2017 8:09 am
Forum: Personal Consumer Issues
Topic: Boglehead Ideas for College Graduation Gifts
Replies: 14
Views: 1418

Re: Boglehead Ideas for College Graduation Gifts

I was given a business type leather shoulder briefcase (not sure exactly what it called). I used it for almost 10 years for my first jobs. It was a great gift and only stopped using it because it was falling apart. I would have never thought to buy one as a college graduate and it's been much better...
by Wellfleet
Sun Apr 23, 2017 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: how much house can we afford? Boston area.
Replies: 50
Views: 4157

Re: how much house can we afford? Boston area.

With your income, you could buy a 5000+ sq ft new home in a lower cost, higher quality of life location. We call this moving "out to 495" in Massachusetts. OP, it definitely matters what your profession is and where the job centers are. If you for see needing to commute to Boston for 30 m...
by Wellfleet
Fri Apr 21, 2017 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Child's Debt Consolidation
Replies: 14
Views: 2253

Re: Child's Debt Consolidation

You might consider a carrot if you would like to help financially like matching a ROTH contribution or something like that.
by Wellfleet
Wed Apr 19, 2017 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Adult child lack of availability at tax time.
Replies: 24
Views: 2289

Re: Adult child lack of availability at tax time.

corysold wrote:I think letting the IRS contact him is a great idea.

He is an adult. Unless he is a mental state where he actually needs your help, you should stop providing it. Doing your adult sons taxes is doing him no favors.


+1
by Wellfleet
Tue Apr 18, 2017 1:09 pm
Forum: Personal Consumer Issues
Topic: Boston Marathon - Hotel Plan?
Replies: 29
Views: 4246

Re: Boston Marathon - Hotel Plan?

I'd try to find out where the shuttles depart that will bring you to the race start and find something easily accessible to that. For instance, I heard on the radio yesterday that some shuttles were departing from a part of the city that isn't really near the race finish so I'd suspect that hotels w...
by Wellfleet
Tue Apr 18, 2017 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford private school for my kids?
Replies: 67
Views: 5957

Re: Can I afford private school for my kids?

We have also found that their small private school is more diverse in every way than our highly rated public schools. This is an interesting statement I'm having a hard time wrapping my head around. Me too, I find that hard to believe ^^. At least in New England, schools are organized by municipali...
by Wellfleet
Mon Apr 17, 2017 9:41 am
Forum: Personal Consumer Issues
Topic: Any MPA Grads or Students? Advice.
Replies: 10
Views: 1337

Re: Any MPA Grads or Students? Advice.

Beyond what an old friend is up to, think about jobs you would like to have at some point and determine what the qualification are to get that position. Are there certifications that you can get that serve the same purpose, etc? Try looking on indeed.com and insert the qual you have to see how many ...
by Wellfleet
Mon Apr 10, 2017 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Advice: Overextending by buying? How much house to buy?
Replies: 57
Views: 5616

Re: Advice: Overextending by buying? How much house to buy?

At the risk of repeating others, are you concerned about being locked into one employer for 20 years?
by Wellfleet
Mon Apr 10, 2017 12:59 pm
Forum: Personal Consumer Issues
Topic: Help me decide what to do with my cars
Replies: 34
Views: 2056

Re: Help me decide what to do with my cars

bearpaws wrote:
gator15 wrote:Do you live in the Midwest? I need a commuter car. That civic would be great.



nope sorry :happy


I sometimes think that a BH classified section would be a great idea although agreeing on prices would be a bear. :happy
by Wellfleet
Fri Mar 31, 2017 2:29 pm
Forum: Personal Consumer Issues
Topic: What career helped you become wealthy?
Replies: 75
Views: 10400

Re: What career helped you become wealthy?

Hey Bogleheads, Just curious as to some of the more popular professions around the board that have provided healthy sources of income to lead you to wealth? For instance, I'm only 24 and a recent grad but am in IT sales. Does anyone trade/invest for a living? OP, I think you are in an excellent pro...
by Wellfleet
Thu Mar 30, 2017 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Boston apartment hunting advice/can I afford a studio?
Replies: 48
Views: 4135

Re: Boston apartment hunting advice/can I afford a studio?

An agent and a realtor is the same thing when looking for an apartment rental in Boston.

I would say that despised dealing with them.
by Wellfleet
Wed Mar 29, 2017 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Not opting for 529... anyone else?
Replies: 175
Views: 12018

Re: Not opting for 529... anyone else?

Jack FFR1846 wrote:I opened my first 529 and funded it using the bonus on the Fidelity card plus some money otherwise.


This is what I do too. Miscellaneous small gifts (~$100) from grandparents go in it too.

Plan to use ROTHS and cash flow when the time comes.
by Wellfleet
Tue Mar 28, 2017 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Realtor vs MLS Listing Service
Replies: 13
Views: 995

Re: Realtor vs MLS Listing Service

cbr shadow wrote: The home will also be unoccupied, so I’m motivated to sell it as quickly as possible.
-Ryan


Have you considered auctioning it if you want it sold ASAP? Might save on the commissions but I have no idea what an auctioneers commission is.