Search found 408 matches

by fantasytensai
Sun Apr 22, 2018 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: Late Paper Tax Filing Logistics
Replies: 1
Views: 178

Late Paper Tax Filing Logistics

Hi, I applied and got approved for a federal extension to file late taxes. I am assemblying my paper filing right now. I have attached all the W-2s, 1099s with federal withholdings, relevant 1040 Schedules, etc. My question is, do I have to attach some sort of extension confirmation with my filing, ...
by fantasytensai
Thu Apr 19, 2018 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Help me choose a top law school!
Replies: 65
Views: 5675

Re: Help me choose a top law school!

Congratulations. Perhaps I'm too late to the conversation, but I'll offer a less conventional perspective. Instead of going into six-figure debt at a T20 school, I accepted a full ride scholarship at a mid-tier school that provided a stipend for living expenses, which means I made money going to la...
by fantasytensai
Wed Apr 18, 2018 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Expensive house... does this make sense?
Replies: 24
Views: 2281

Re: Expensive house... does this make sense?

I ran the numbers for a mortgage on an $800k house with a $360k down payment in zillow, and I found that the monthly payments for a 30 year mortgage are at least $2,100. This does not include tax and insurance, and assumed excellent credit. This is a pretty high fraction of your monthly take-home. ...
by fantasytensai
Wed Apr 18, 2018 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Broke up with my girlfriend for financial reasons: crazy?
Replies: 53
Views: 3084

Re: Broke up with my girlfriend for financial reasons: crazy?

She doesn't sound extravagant at all. She sounds perfectly normal financially and like a fine woman. If you love here, love is all you need. Same. Based on what OP said: "Later, we discussed and she said that my financial goals are more important to me than her, and so it's best to call it off." Sh...
by fantasytensai
Wed Apr 18, 2018 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Check my logic please (life insurance)
Replies: 19
Views: 875

Re: Check my logic please (life insurance)

Wife (29) and I (34) are about to have our first kid. We only plan to have two, spaced pretty close together, so I'm now considering a 25 year term life insurance policy as opposed to the more common 30. I'm a federal employee (salary ~$70k) and she is an RN (salary ~$80k). I have better benefits (...
by fantasytensai
Wed Apr 18, 2018 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Broke up with my girlfriend for financial reasons: crazy?
Replies: 53
Views: 3084

Re: Broke up with my girlfriend for financial reasons: crazy?

I'm in the minority here I'm sure, but I believe in the spirit of courtship. I will ask the girl that I am seeing if she wouldn't mind me paying for the accommodations, because I value her time and company tremendously. If she is not okay with it in any shape or form, I do not insist. If or when the...
by fantasytensai
Wed Apr 18, 2018 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Your Monthly Cost of Living
Replies: 66
Views: 6740

Re: Your Monthly Cost of Living

Housing: Maintenance $1400 + Mortgage $1030 + Utilities (inc internet and mobile) $300 + Insurance $20 = $2750 Transportation: Cars $830 + Insurance $220 + Gas $250 + Random stuff (registration, maintenance) about $30 = $1330 Food, including Groceries: $2000 Other: Wife fun fund: $2000 Total: $8080,...
by fantasytensai
Wed Apr 18, 2018 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Forgot AMT on taxes
Replies: 7
Views: 648

Re: Forgot AMT on taxes

You need to file an amended return. There will not be a penalty since you don’t owe taxes. Next year, try TurboTax or something. I don’t understand why anyone would file by hand when tax software is so much better at doing the calculations. You can still review how they fill out the form, so it’s n...
by fantasytensai
Wed Apr 18, 2018 8:54 am
Forum: Personal Finance (Not Investing)
Topic: How much salary did you negotiate?
Replies: 20
Views: 2433

Re: How much salary did you negotiate?

Earl Lemongrab wrote:
Tue Apr 17, 2018 11:53 am
MotoTrojan wrote:
Mon Apr 16, 2018 3:37 pm
Can you negotiate additional 401k contributions
No, you can't.
+1. But you can negotiate other benefits like time off, remote working, etc.
by fantasytensai
Wed Apr 18, 2018 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Inherited foreign rental
Replies: 1
Views: 206

Re: Inherited foreign rental

Sell it. Fly there. Hire a big name appraisal company to get the value. Interview a few local real estate agents. Find one that is responsive to emails and that you feel comfortable with. Promise them 5% of the proceeds, and put it on the market. My mom is in the same situation, except she has preda...
by fantasytensai
Wed Apr 18, 2018 8:36 am
Forum: Investing - Theory, News & General
Topic: What are you up YTD? [Year To Date]
Replies: 1821
Views: 325323

Re: What are you up YTD? [Year To Date]

Negative 1.8%. My first test!
by fantasytensai
Wed Apr 18, 2018 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Terminal illness with small kids
Replies: 63
Views: 10252

Re: Terminal illness with small kids

Bad news = She died this past weekend. Good news = She was able to go home, and had a really good 2 to 3 days (relative to situation). The family has collected about $25K. $15K was given to the husband for funeral expenses, etc. The other $10K is being held until after the burial, etc. I believe th...
by fantasytensai
Mon Apr 16, 2018 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Is capital gains paid at the state level as well?
Replies: 8
Views: 392

Re: Is capital gains paid at the state level as well?

Hi, I'm trying to estimate my quarterly taxes for 2018. It dawned upon me that I do not know if capital gains on the sale of stock is paid on the state level as well. I already figured it (15%) into my federal quarterly liabilities, but I did not know if it is for the state too. Thanks! State is Ne...
by fantasytensai
Mon Apr 16, 2018 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Is capital gains paid at the state level as well?
Replies: 8
Views: 392

Is capital gains paid at the state level as well?

Hi, I'm trying to estimate my quarterly taxes for 2018. It dawned upon me that I do not know if capital gains on the sale of stock is paid on the state level as well. I already figured it (15%) into my federal quarterly liabilities, but I did not know if it is for the state too. Thanks! Edit: the st...
by fantasytensai
Thu Apr 12, 2018 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: DINK High Income Earners - how to lessen the tax impact?
Replies: 25
Views: 2326

Re: DINK High Income Earners - how to lessen the tax impact?

I love this forum so much, but the moral high ground here sometimes gets a little unbearable.
by fantasytensai
Thu Apr 12, 2018 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: DINK High Income Earners - how to lessen the tax impact?
Replies: 25
Views: 2326

Re: DINK High Income Earners - how to lessen the tax impact?

As a fellow DINK looking to open my own business, I am very interested in this as well. Especially pass-through entity under the new tax law. Hope can receive some enlightenment.
by fantasytensai
Thu Apr 12, 2018 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Help me choose a top law school!
Replies: 65
Views: 5675

Re: Help me choose a top law school!

You probably know this, but you are in a great position to succeed in life no matter what you pick. FWIW, Top 3 schools - YHS are in a league of its own. The following 3 schools - Columbia, Chicago, and NYU, are in another league. The difference is visible, as you never see YHS fall out of the top 3...
by fantasytensai
Wed Apr 11, 2018 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Ivy school education. Is it worth it?
Replies: 238
Views: 12418

Re: Ivy school education. Is it worth it?

I read some of this post, however, not every comment. I am following this because I find it very interesting to hear the perspectives. I went to a state school for both undergrad and post grad programs. I have a great job and work at one of the top 10 companies globally. However, I have bounced aro...
by fantasytensai
Mon Apr 09, 2018 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Ivy school education. Is it worth it?
Replies: 238
Views: 12418

Re: Ivy school education. Is it worth it?

Either way, I'm 30. My school days are behind me. I would be lying if I didn't look back at the unfair (to me at least) admission process of Ivys and be a little bitter inside. Anyway, to answer your question, it is 100000% worth it. If my kid can get into Ivy (fat chance though, damn my Asian gene...
by fantasytensai
Mon Apr 09, 2018 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: Ivy school education. Is it worth it?
Replies: 238
Views: 12418

Re: Ivy school education. Is it worth it?

I'm confused. Can your son get into an Ivy? If he is an average student, his chances are slim unless you spend 2.5 mil on a library. If he can't get into Ivy in the first place, all this analysis is useless, no? I'm really wondering about this...I was a 4.3 GPA, 2350 SAT Asian kid that got shut out...
by fantasytensai
Mon Apr 09, 2018 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Ivy school education. Is it worth it?
Replies: 238
Views: 12418

Re: Ivy school education. Is it worth it?

I live in an affluent area with many doctors, lawyers; movers and shakers. Many of their kids are going to ivy league level schools. Understandably their parents are very proud. My son on the other hand is an average student. So maybe I have an axe to grind. But regardless it is an interesting ques...
by fantasytensai
Fri Mar 30, 2018 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: taxes: e-file vs. paper
Replies: 51
Views: 3420

Re: taxes: e-file vs. paper

palaheel wrote:
Fri Mar 30, 2018 9:44 am
Are there differences in auditing rates between electronic and paper returns? Many years ago I heard that electronic returns had a slightly higher chance of being audited.
I believe it was a rumor, but some swear by it.
by fantasytensai
Fri Mar 30, 2018 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Question about Filing for Tax Extension
Replies: 8
Views: 436

Re: Question about Filing for Tax Extension

Thank you all for the thoughtful responses. What about states, specifically NY? Again, I also don't expect to owe taxes.
by fantasytensai
Fri Mar 30, 2018 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Question about Filing for Tax Extension
Replies: 8
Views: 436

Question about Filing for Tax Extension

Hi, I understand the basics of filing for tax extension - you estimate the amount of taxes owed, then send a Form 4868 to IRS with a check for the amount owed. However, what happens when I estimate that I do not owe any taxes (or minimal taxes?) Do I just send a completed Form 4868 with no payment t...
by fantasytensai
Wed Mar 28, 2018 11:19 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

I'll be honest. I have been fearing a recession for a while now. But now that a setback is here, I don't actually seemed to affected by it. Sure seeing my portfolio dip sucks, but given that I have at least a 10 year horizon it doesn't bother me at all. I'm not buying any more than usual either, jus...
by fantasytensai
Thu Mar 01, 2018 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Over 62 and waiting to claim Social Security? - Potential Fraud alert
Replies: 28
Views: 3190

Re: Over 62 and waiting to claim Social Security? - Potential Fraud alert

Saw an interesting article on the American Institute of Certified Public Accountants website. A CPA who was 68 and waiting to claim at 70 was a victim of fraud. The fraudster claimed Social Security on his behalf, directed it to a bank that didn't conduct credit checks, and took a retroactive lump ...
by fantasytensai
Thu Mar 01, 2018 12:05 pm
Forum: Investing - Theory, News & General
Topic: PurePoint 1.25% online savings $10K min
Replies: 72
Views: 13557

Re: PurePoint 1.25% online savings $10K min

If this is a no-hoops savings account, it appears to be a no-brainer. Also, 1.4% for a 12 months CD is arguably even better. Ally is 1.45% so what's the big deal? Um, check the date on that post. It was over a year ago. Holy shizzles, I have been at this forum for over a year already....time really...
by fantasytensai
Thu Feb 22, 2018 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: New Job Evaluation
Replies: 30
Views: 2230

Re: New Job Evaluation

Thank you for everyone's responses! I actually also interviewed for another state opportunity. This one is approx. $73k and is something new, yay! They have been calling my references all day. Crossies. Can you share some tips on your job search? I am a professional (insurance attorney), similar ag...
by fantasytensai
Thu Feb 22, 2018 9:36 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

lee1026 wrote:
Wed Feb 21, 2018 4:03 pm
VBTLX's yield changes on a nano-second basis. Anytime its price changes, so does its yield.
That is good to hear.
by fantasytensai
Wed Feb 21, 2018 4:20 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

What do I do with my bond funds that have been dropping like a rock? I'm already at 80/20 but I still feel absolutely screwed by my bond fund allocations. I have the risk tolerance for 90/10 but it just sickens me to sell VBTLX at such a huge loss. If you can't stand the volatility of bond, how cou...
by fantasytensai
Wed Feb 21, 2018 4:01 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

What do I do with my bond funds that have been dropping like a rock? I'm already at 80/20 but I still feel absolutely screwed by my bond fund allocations. I have the risk tolerance for 90/10 but it just sickens me to sell VBTLX at such a huge loss. If they are in taxable, sell to harvest the loss, ...
by fantasytensai
Wed Feb 21, 2018 3:46 pm
Forum: Investing - Theory, News & General
Topic: Can someone help me explain to my wife...?
Replies: 81
Views: 9938

Re: Can someone help me explain to my wife...?

How about a compromise? Sell some to lock some profits, keep the rest in. She's not completely off base like everyone is trying to make her out to be. It's kind of like rebalancing.
by fantasytensai
Wed Feb 21, 2018 3:37 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

What do I do with my bond funds that have been dropping like a rock? I'm already at 80/20 but I still feel absolutely screwed by my bond fund allocations. I have the risk tolerance for 90/10 but it just sickens me to sell VBTLX at such a huge loss.
by fantasytensai
Thu Feb 08, 2018 5:14 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

Purchased $10k of Total Stock Index and $5k of Total Bond Index around lunch time today, causing the afternoon slide. I must say, this being my first real correction with a significant (to me) stock allocation, it makes me question my true risk tolerance. If you purchased the mutual fund, then you ...
by fantasytensai
Thu Feb 08, 2018 4:11 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

Sold 2K of VBTLX to buy VTSAX. This way if the market goes up tomorrow I'm happy. If it continues to fall I can continue to exchange.
by fantasytensai
Thu Feb 08, 2018 11:34 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

2Birds1Stone wrote:
Thu Feb 08, 2018 11:25 am
fantasytensai wrote:
Thu Feb 08, 2018 11:25 am
Anyone else buying today, or trying to avoid catching a falling knife?
Waiting for the bottom ;)
I think I'm going to DCA my buying in, thinking of doing 10k, maybe spread out between 3-4 buy ins.
by fantasytensai
Thu Feb 08, 2018 11:25 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

Anyone else buying today, or trying to avoid catching a falling knife?
by fantasytensai
Wed Feb 07, 2018 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: donating a car to charity?
Replies: 13
Views: 640

Re: donating a car to charity?

I wouldn't use Carmax. They quoted me $500 for my older Audi A4. I sold it in less than a week through Autotrader for $2500. If you want to make a donation, you may be better off selling it on Craigslist and then donating the money. The whole point of donating a car is to get a favorable appraisal ...
by fantasytensai
Fri Feb 02, 2018 2:23 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

Anybody know the reason for the fall? I am confused as the US economy is growing, the job market is tight, earnings are decent and the world economy seems to be picking up. Internationally Oil prices are increasing as is demand, there is no real war that can or may break out. Syria, Iraq, Afghanist...
by fantasytensai
Thu Feb 01, 2018 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Independent Consulting Liability
Replies: 15
Views: 803

Re: Independent Consulting Liability

Put it in the contract that you're not liable beyond what you get paid for the work. I am not a lawyer, so this advice is probably worth what you paid for it. I don't think anyone except for the parties involved in the contract would be bound to it. . . but I'm not a lawyer, either. Third party ben...
by fantasytensai
Tue Jan 30, 2018 4:31 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

Posters sound so calm and are sticking to their plans. That's easy to do with a small dip. We will see how it goes when they get hit in the nose with a 20% drop. They just got a tap on the shoulder. Wait until they get a punch to the mouth. Some will stick it out, many others not. Full disclosure -...
by fantasytensai
Tue Jan 30, 2018 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: $100k+ Credit Card Spend Per Year: What card offers the best return?
Replies: 44
Views: 4790

Re: $100k+ Credit Card Spend Per Year: What card offers the best return?

Fellow Schwab Amex card holder here, though I keep my IRA in Vanguard. If this is true, it is a game changer. However, the only way to test it is to actually do it and wait and see if IRS reacts, and even then it may just be a false negative if IRS doesn't react. I would not call IRS to draw attent...
by fantasytensai
Tue Jan 30, 2018 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: $100k+ Credit Card Spend Per Year: What card offers the best return?
Replies: 44
Views: 4790

Re: $100k+ Credit Card Spend Per Year: What card offers the best return?

It seems odd, but I chatted with Schwab and they verified. I would imagine it is for the same reason that you can transfer a Roth over to a Brokerage and that company can put money into your Roth as a bonus. I believe you were either mis-informed or mis-understood the advice given. I have the Schwa...
by fantasytensai
Tue Jan 30, 2018 1:35 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

fantasytensai wrote:
Mon Jan 29, 2018 12:16 pm
bligh wrote:
Mon Jan 29, 2018 11:30 am
Feel like we need a U.S. Bonds in freefall thread. :D
Bonds, or at least bond funds, do not appear to be the security blanket as they were in the past.
Bonds down .2% today while equities down 1%. I'm a big enough man to admit when I'm wrong. Bonds still serve some purpose.
by fantasytensai
Tue Jan 30, 2018 12:35 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

oldcomputerguy wrote:
Tue Jan 30, 2018 11:09 am
fantasytensai wrote:
Mon Jan 29, 2018 12:59 pm
I have 20% position in TBM and dividends have not come close to making up for the rapid drop in NAV.
NAV is only relevant if you want either to buy or sell. If you're holding forever, it doesn't matter.
:beer
But...but....paper wealth!
by fantasytensai
Mon Jan 29, 2018 2:12 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

It just seems like the NAV will continue to drop - yield will continue to increase. There are ways to make money if you can actually guarantee that bond yields will continue to rise and prices fall. Not suggested you try it. People have been positive of the direction of the bond (and stock) market ...
by fantasytensai
Mon Jan 29, 2018 1:26 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

It just seems like the NAV will continue to drop - yield will continue to increase.
by fantasytensai
Mon Jan 29, 2018 12:59 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

Feel like we need a U.S. Bonds in freefall thread. :D Bonds, or at least bond funds, do not appear to be the security blanket as they were in the past. What a curious statement. Bonds are near 5-year lows while stocks are at all-time highs. I could not be more pleased with my bond fund performance....
by fantasytensai
Mon Jan 29, 2018 12:16 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

bligh wrote:
Mon Jan 29, 2018 11:30 am
Feel like we need a U.S. Bonds in freefall thread. :D
Bonds, or at least bond funds, do not appear to be the security blanket as they were in the past.
by fantasytensai
Mon Jan 29, 2018 11:11 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6393
Views: 1372057

Re: U.S. stocks in freefall

Reviving the discussion