Search found 288 matches

by jaj2276
Fri Jun 23, 2017 9:52 am
Forum: Personal Finance (Not Investing)
Topic: House Closing is Tomorrow! Here are the Closing fees .... am I being ripped off?
Replies: 22
Views: 2184

Re: House Closing is Tomorrow! Here are the Closing fees .... am I being ripped off?

... -- I can't believe that you have to pay an Attorney Review fee. That's usually rolled up in the attorney fee which itself seems a bit high but not awful. .... That's the fee for the bank's lawyer. It's so tiny because the buyer's lawyer prepares the documents for review by the bank's lawyer. No...
by jaj2276
Fri Jun 23, 2017 8:15 am
Forum: Investing - Theory, News & General
Topic: "10 Reasons Why Advisers Struggle To Keep Client Portfolios Simple"
Replies: 23
Views: 2909

Re: "10 Reasons Why Advisers Struggle To Keep Client Portfolios Simple"

Taylor, I think some of this is driven by clients. Clients want to see that their advisor is "doing something", I think seeing a three fund portfolio might raise objections after spending hundreds if not thousands on a financial plan. Probably ego not only on the part of the advisor but a...
by jaj2276
Thu Jun 22, 2017 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: House Closing is Tomorrow! Here are the Closing fees .... am I being ripped off?
Replies: 22
Views: 2184

Re: House Closing is Tomorrow! Here are the Closing fees .... am I being ripped off?

Most look ok. -- That application fee seems a bit high. -- I can't believe that you have to pay an Attorney Review fee. That's usually rolled up in the attorney fee which itself seems a bit high but not awful. -- Title insurance (lender's and owner's) is a little expensive but not by much. -- Survey...
by jaj2276
Sun May 28, 2017 11:49 am
Forum: Investing - Help with Personal Investments
Topic: Unwinding a maturing UTMA to pay least taxes
Replies: 18
Views: 1143

Re: Unwinding a maturing UTMA to pay least taxes

I can't answer livesoft's question, but I did want to add a question on to my own. I opened a UGMA account (one of 2 states to have UGMA and not UTMA) for my 1.5 yr old last year. Should I tax gain harvest each year up to the kiddie tax threshold so that when the account transfers over, the minor ha...
by jaj2276
Fri May 26, 2017 11:36 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Lending
Replies: 11
Views: 1023

Re: Portfolio Lending

I figured it out. I made my first purchase of a mutual fund today after the account was converted to margin and mutual funds require 100% margin for 30 days. After 30 days they become marginable. Basically all my MFs right now say "Vanguard Short-Term ... (Cash)" and after 30 days will cha...
by jaj2276
Fri May 26, 2017 7:06 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Lending
Replies: 11
Views: 1023

Re: Portfolio Lending

I wouldn't be using margin or portfolio lending to buy securities although the cash would be used for investments (just not registered ones). I agree that the rates are too high but I checked a few other sites (Fidelity, Schwab) and they didn't seem much different from the other brokers. Is there a...
by jaj2276
Thu May 25, 2017 8:42 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Lending
Replies: 11
Views: 1023

Re: Portfolio Lending

Ahhh, perfect! Although I wonder why there are two types of ways to borrow (margin and portfolio lending) if I can use the borrowed proceeds as cash. Anyways, I'm off to Vanguard to learn more about their margin offering. Thanks so much! They may provide it as cash, but you still aren't allowed to ...
by jaj2276
Thu May 25, 2017 7:37 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Lending
Replies: 11
Views: 1023

Re: Portfolio Lending

Hopefully someone knowledgeable about margin sees this thread. I enabled my Vanguard account for margin and it seems like everything has gone through. The title of the account now ends with "... (Margin)" and every security I currently own ends with how I bought it "... (Cash)". ...
by jaj2276
Wed May 10, 2017 12:18 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Lending
Replies: 11
Views: 1023

Re: Portfolio Lending

My intent is to use this money for things other than securities so I don't need a margin account but rather something akin to a collateral loan where the pledged collateral is a basket of marketable securities. A margin account with Vanguard is what your looking for. No need to buy securities. Vang...
by jaj2276
Tue May 09, 2017 9:46 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Lending
Replies: 11
Views: 1023

Portfolio Lending

First the easy question: Does Vanguard offer portfolio lending? I looked on their website and couldn't find anything that suggested they do. Now the hard(er) question: Does anyone know of any companies that offer portfolio lending while still maintaining the securities at Vanguard? My intent is to u...
by jaj2276
Thu Apr 27, 2017 10:37 pm
Forum: Personal Consumer Issues
Topic: Home Warranty
Replies: 11
Views: 905

Re: Home Warranty

Ignore the invoice. These warranties are totally worthless with so many restrictions.
by jaj2276
Sat Mar 25, 2017 7:09 pm
Forum: Personal Consumer Issues
Topic: My TrueCar buying experience
Replies: 23
Views: 4338

Re: My TrueCar buying experience

I just bought a Toyota Prius, using TrueCar through my credit union. I got an excellent deal (in the Exceptional range according to TrueCar, and $700 under invoice according to Edmunds.com). You "got an excellent deal"? How do you know? The sales data TrueCar shows you comes straight from...
by jaj2276
Tue Mar 14, 2017 6:39 am
Forum: Personal Finance (Not Investing)
Topic: Did I Buy Too Much Home?!?!?!
Replies: 42
Views: 4672

Re: Did I Buy Too Much Home?!?!?!

If you were looking for a home in the $1.25m - $1.75m range and you found one you really liked for $1.9m, then you probably bought too much home (or if not too much, at least too nice of one or too perfect of a location). There's nothing wrong with that, but usually that's what happens and maybe tha...
by jaj2276
Sun Mar 05, 2017 9:23 am
Forum: Investing - Help with Personal Investments
Topic: Poll: For those 20 yrs away from retirement, what is your current asset allocation and future changes?
Replies: 33
Views: 2076

Re: Poll: For those 20 yrs away from retirement, what is your current asset allocation and future changes?

We're 41/36, so probably right about 20 years from retirement (I could probably retire sooner but my wife has 20 years). We're at 61.5% stocks, 28.5% bonds, 10% Precious Metals. We're adding 1% of bonds each year until we reach 50/40/10 and let that take us towards our retirement date where I hope t...
by jaj2276
Fri Mar 03, 2017 8:04 pm
Forum: Personal Consumer Issues
Topic: Giving my lawn the TLC it needs
Replies: 69
Views: 4084

Re: Giving my lawn the TLC it needs

Chicago area. ... Ok, since you're likely using cool season grasses, my experience won't be of much help as my grass is a warm season grass. I will say that I used to have a lawn service. After about 3 yrs I decided they didn't do much for my grass that I couldn't do. There's a turf store here (the...
by jaj2276
Fri Mar 03, 2017 4:29 pm
Forum: Personal Consumer Issues
Topic: Giving my lawn the TLC it needs
Replies: 69
Views: 4084

Re: Giving my lawn the TLC it needs

What area of the country are you in?
by jaj2276
Mon Feb 20, 2017 10:11 am
Forum: Investing - Theory, News & General
Topic: Tax Implications of Drawdown from Different Account Types
Replies: 13
Views: 849

Re: Tax Implications of Drawdown from Different Account Types

Only the Capital gains from taxable are added to AGI. Roth is not added at all. All of tIRA is added. Deductions and exemptions are subtracted to get taxable income (line 43 of 1040). Capital gains taxes are pulled out and calculated separately. Since you are in 15% tax bracket, the rate is 0% for ...
by jaj2276
Thu Feb 16, 2017 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella 1 million $500
Replies: 32
Views: 2554

Re: Umbrella 1 million $500

I was paying $450 for $2m of coverage with eSurance (AllState).

I just switched to Geico in part due to Geico's umbrella coverage being significantly cheaper ($297 for $2m of coverage).
by jaj2276
Tue Feb 14, 2017 8:13 pm
Forum: Investing - Help with Personal Investments
Topic: Moving 20% into cash
Replies: 32
Views: 2955

Re: Moving 20% into cash

I just did the opposite as I was underweight equities because I donated a bunch of securities at the end of last year! Even worse is that I was really underweight intl equities and that has gone up more than the US! So I've bought and like you, I felt I've bought at the top. If I'm right, I'll have ...
by jaj2276
Mon Feb 13, 2017 12:35 pm
Forum: Investing - Help with Personal Investments
Topic: Opinion about VGPMX for 2017 [Vanguard Precious Metals and Mining]
Replies: 44
Views: 2597

Re: Opinion about VGPMX for 2017 [Vanguard Precious Metals and Mining]

My AA is 10% precious metals. I try to hold my precious metals as physical bullion but this fund comes in handy to make up for any shortfall (and also helps with liquidity in case my precious metals increase in value and I need to rebalance out of precious metals). I will say that this fund is proba...
by jaj2276
Wed Feb 01, 2017 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 7
Views: 792

Re: Disability Insurance while not working

... Stuff deleted ... Pricing seems reasonable for the benefits and your occupation, I'm guessing this is a Principal policy. $8500/mo covers about $185k income if there was no group coverage in place, and that pricing means you are spending about 2.4% of income on the policy. A comprehensive disab...
by jaj2276
Tue Jan 31, 2017 10:44 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 553
Views: 134235

Re: Share your net worth progression

Here's the reverse side of it all: What is the purpose of retirement planning? Well for me it is to live in retirement. Leaving an estate to my kids is lots further down my priority list. The day I retired in 2000, age 55, I was at 2.584 mill. Now at the end of 2016, having lived off it for 16.5 ye...
by jaj2276
Tue Jan 31, 2017 10:37 pm
Forum: Investing - Help with Personal Investments
Topic: Recharacterizations of Trad to Roth IRA conversions
Replies: 6
Views: 815

Re: How to recharacterize a conversion amongst backdoor contributions

Answering my own question (I need to figure out how to add flair to my topics so I get more replies!), I was not able to undo my recharacterization (I spoke to Vanguard and asked the question and the rep gave a gentle laugh). But now I'm wondering what I'll be able to recharacterize in my accounts g...
by jaj2276
Tue Jan 31, 2017 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 7
Views: 792

Re: Disability Insurance while not working

I didn't get many responses on this topic but I'll post an update with different questions so as to not pollute with a new thread. A bit about the policy: ⋅ $8,535 Monthly benefit ⋅ To Age 65 ⋅ 90 day elimination period Riders in effect (I list only the ones that cost e...
by jaj2276
Fri Jan 27, 2017 11:54 am
Forum: Investing - Help with Personal Investments
Topic: Kids Personal Savings - Other Vanguard funds?
Replies: 19
Views: 1024

Re: Kids Personal Savings - Other Vanguard funds?

By the way, the usual concerns about tax efficiency do no apply for a child's account when assets are modest. You will likely want to tax- GAIN harvest in the up years, so that the child's cost basis can advance with no tax cost. You would rather not he get hit with taxes on 10+ years of gains when...
by jaj2276
Fri Jan 20, 2017 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 7
Views: 792

Re: Disability Insurance while not working

Well the basis of the claim (and this might not be valid) would be that I couldn't go back to work (which I would need to do to cover my increased expenses!). My policy is own occ if that makes a difference. I guess I'm wondering if I should try and reprice a policy that only pays out to when I'd li...
by jaj2276
Fri Jan 20, 2017 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 7
Views: 792

Disability Insurance

I currently have an employer provided group DI policy that provides $6k of monthly benefit. I have an individual policy that currently provides $2300 of monthly benefit. I am currently increasing my individual DI policy significantly as my income has increased in the last few years (my group monthly...
by jaj2276
Sat Dec 31, 2016 4:37 pm
Forum: Investing - Theory, News & General
Topic: What are you up YTD? [Year To Date]
Replies: 1351
Views: 233104

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

XIRR of 11.48% (will be higher as 2 of my investments Dec returns won't be known until a bit later in Jan/Feb). Total portfolio increase of 27.10%. A XIRR of 7.38% from 1/1/2009. 27.5% Bonds 10% Precision Metals 41.88% US Equities (Small Value tilt) 20.62% Intl Equities 2017 will increase the bonds ...
by jaj2276
Sat Dec 24, 2016 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: interesting WSJ article on donor advised funds
Replies: 22
Views: 2302

Re: interesting WSJ article on donor advised funds

My wife and I just set one up this year with Vanguard. We normally give to 5 charities a year and usually give cash. With the DAF, we were able to fund a 20-year charitable plan with appreciated stock and take the whole deduction this year (we're in a high tax bracket). We're also using the VPW spre...
by jaj2276
Sun Dec 18, 2016 3:34 pm
Forum: Investing - Theory, News & General
Topic: Variable Percentage Withdrawal (VPW)
Replies: 730
Views: 216145

Re: Variable Percentage Withdrawal (VPW)

I just donated a good sum of money to a Vanguard Donor Advised Fund (seeded by appreciated stock to boot). I want to optimize my yearly distributions given the performance of the investment portfolio and have an idea for how long I expect this amount to last. Wouldn't VPN help me with this? Seems li...
by jaj2276
Thu Jul 07, 2016 10:08 am
Forum: Investing - Help with Personal Investments
Topic: Recharacterizations of Trad to Roth IRA conversions
Replies: 6
Views: 815

Re: How to recharacterize a conversion amongst backdoor contributions

I recharacterized a Rollover->Roth IRA conversion I did in 2015 this past February (2016). I filed an extension this past April and have yet to file my taxes for 2015. Unfortunately the investments I chose for my recharacterization have gone up (I chose SCV and Precious Metals and Mining) so if I we...
by jaj2276
Wed Jun 29, 2016 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: 15K Deposit after Attorney Review. Buying a house. Is this Normal???
Replies: 31
Views: 3046

Re: 15K Deposit after Attorney Review. Buying a house. Is this Normal???

My second house I bought (it was a new house from a builder) I had to put down 5% as earnest money (about $20k). I unfortunately got cold feet and forfeited this amount. It's one of two regrets I've had while purchasing real estate. The next house I bought I put down $5k. This was on a $368k house. ...
by jaj2276
Sat Jun 25, 2016 3:36 pm
Forum: Personal Consumer Issues
Topic: Southeast coast beach cities for raising a family
Replies: 29
Views: 2582

Re: Southeast coast beach cities for raising a family

quantAndHold wrote:Progressive is a relative term, and I doubt that I would find any of the places under discussion to be progressive enough that I'd feel comfortable there, but OP might be just fine.


I don't understand this. What would make you feel uncomfortable?
by jaj2276
Sat Jun 25, 2016 8:11 am
Forum: Personal Consumer Issues
Topic: Southeast coast beach cities for raising a family
Replies: 29
Views: 2582

Re: Southeast coast beach cities for raising a family

The Charleston area is terrible. Please don't move here.
by jaj2276
Wed May 18, 2016 9:03 am
Forum: Investing - Help with Personal Investments
Topic: Recast a mortgage right at the begining
Replies: 25
Views: 2328

Re: Recast a mortgage right at the begining

I'm not familiar with the official term of recast but I just closed on a house yesterday with a minimum down payment. Once my current house sells I will then use those proceeds and apply it to the new mortgage and reamortize it. My lender allows this but only after 6 months (I guess they at least ge...
by jaj2276
Sat Apr 23, 2016 9:58 am
Forum: Investing - Help with Personal Investments
Topic: Tax lien investing
Replies: 5
Views: 1688

Re: Tax lien investing

Wow, this is an old thread. I haven't bought a single tax lien since 2009. The "cat's out of the bag" so to speak and too much (easy) money driving up prices. When I bought my 4 tax liens in 2009 I felt I was one of the fortunate to have additional cash lying around. With the housing marke...
by jaj2276
Mon Apr 04, 2016 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving a LBYM lifestyle ["Living Below" to "Living At" Your Means]
Replies: 54
Views: 7372

Re: Leaving a LBYM lifestyle ["Living Below" to "Living At" Your Means]

Thanks to everyone who contributed to this thread. It's been by far my most active thread on this board (I'm a dork, sometimes those things mean something). I've decided to buy the house and am feeling excited and confident about my decision due in no small part to your advice.
by jaj2276
Mon Apr 04, 2016 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving a LBYM lifestyle ["Living Below" to "Living At" Your Means]
Replies: 54
Views: 7372

Re: Leaving a LBYM lifestyle

OP, even though this falls into my category of "increasing expenses", it sounds like you can afford the new expense and it will lead to an increased quality of life. Spending money that you can afford to increase your quality of life is a very valid spending choice. If you're just having ...
by jaj2276
Mon Apr 04, 2016 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving a LBYM lifestyle ["Living Below" to "Living At" Your Means]
Replies: 54
Views: 7372

Re: Leaving a LBYM lifestyle

+1 I'm wondering if the debt-to-income ratio wasn't missed by other posters. With an income of $500k, you can easily afford a $1m house, even with substantial renovations. I can't imagine this would possibly bring you into a "LAYM" situation unless you are spending an awful lot of money e...
by jaj2276
Mon Apr 04, 2016 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving a LBYM lifestyle ["Living Below" to "Living At" Your Means]
Replies: 54
Views: 7372

Re: Leaving a LBYM lifestyle

At a certain point you can live in fear (what if I lose my job and unable to ever get employed again, get disability, kid develops some rare disorder,....) or you can make reasonable plans (i.e. being able to retire at 50 with enough money for 12k/month in spending + whatever the wife brings home+ ...
by jaj2276
Mon Apr 04, 2016 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving a LBYM lifestyle ["Living Below" to "Living At" Your Means]
Replies: 54
Views: 7372

Re: Leaving a LBYM lifestyle

Two things jump out at me: 1) Your goal is $5 million in retirement which will sustain a $200K/yr lifestyle. This may be too much money considering your wife has a pension plan and you will get SS as well. Plus I doubt you will be spending as much money since you will have a paid off house and will...
by jaj2276
Mon Apr 04, 2016 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving a LBYM lifestyle ["Living Below" to "Living At" Your Means]
Replies: 54
Views: 7372

Re: Leaving a LBYM lifestyle

A final word of caution is that you will notice I am still saving. I would not STOP saving until you are financially independent (which is to say that your assets are roughly 30 times your yearly expenses (give or take, depending on your risk tolerance)). I am assuming when you say "living at ...
by jaj2276
Mon Apr 04, 2016 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving a LBYM lifestyle ["Living Below" to "Living At" Your Means]
Replies: 54
Views: 7372

Re: Leaving a LBYM lifestyle

If I were you, I'd buy the beach house. No question. You are not even talking a mortgage of 2x your annual income. That is very conservative. And you both work, again giving a layer of additional protection. Your reno budget may go up, just be prepared. I would assume property close to the beach wo...
by jaj2276
Mon Apr 04, 2016 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving a LBYM lifestyle ["Living Below" to "Living At" Your Means]
Replies: 54
Views: 7372

Re: Leaving a LBYM lifestyle

... The issue that I see is that you are taking out a loan to finance your dreams. You didn't say how much of your portfolio was in taxable accounts but if you paid an additional $300K down on the property you would still have a $240K mortgage and except for the additional taxes your future cash fl...
by jaj2276
Mon Apr 04, 2016 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving a LBYM lifestyle ["Living Below" to "Living At" Your Means]
Replies: 54
Views: 7372

Re: Leaving a LBYM lifestyle

At your current income level, you can definitely afford it. Are you confident you can sustain same level of income for next 10, 15 years? I'm confident that if "normal" things happen, and this includes both good and bad "normal", then I can sustain that level of income. I'm even...
by jaj2276
Sun Apr 03, 2016 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving a LBYM lifestyle ["Living Below" to "Living At" Your Means]
Replies: 54
Views: 7372

Re: Leaving a LBYM lifestyle

I did it. I think buying a bigger house is about the single worst way to start LAYM, though. I was 39 and had reached a point where I had enough saved that I felt I could get by without contributing anything else. (Due to Australia being flat out better than America ;) I still was contributing 9% t...
by jaj2276
Sun Apr 03, 2016 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving a LBYM lifestyle ["Living Below" to "Living At" Your Means]
Replies: 54
Views: 7372

Re: Leaving a LBYM lifestyle

Edit: now that I read your response, you should still be able to set aside quite a bit with a 600k mortgage. You will only be paying 18k a year in interest, and you are presently saving 200k. I would not count on your wife wanting to continue her job after you hit your personal number, because jobs...
by jaj2276
Sun Apr 03, 2016 7:58 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving a LBYM lifestyle ["Living Below" to "Living At" Your Means]
Replies: 54
Views: 7372

Re: Leaving a LBYM lifestyle

jaj2276, Your family had a new baby. Won't that change your life? Why are you assuming both you and your wife will go on living as before? Aka, you and your wife will work as hard as before and earned the equal amount of money. You and your wife have the money and associated freedom to spend more t...
by jaj2276
Sun Apr 03, 2016 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving a LBYM lifestyle ["Living Below" to "Living At" Your Means]
Replies: 54
Views: 7372

Re:

I wish I knew how things would work out in 10 years :) Don't we all. While you can certainly afford it now, a lot can happen in ten years. It seems to me that the doubt here is in the what-ifs, and that it might be worth your while to run a few not-what-we'd-planned scenarios. You know, how will yo...
by jaj2276
Sun Apr 03, 2016 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving a LBYM lifestyle ["Living Below" to "Living At" Your Means]
Replies: 54
Views: 7372

Re: Leaving a LBYM lifestyle

jaj2276, Where does tha baby place in your priority list? You talk about your job, your wife's job, and your 2 dogs. You want to buy a house near a beach to make your dogs happy. But, how about your baby? You and your wife make about $200K to $300K each. You have sufficient retirement asset. You ca...

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