Search found 124 matches

by keith6014
Sun Mar 19, 2017 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: Schedule C versus Schedule E
Replies: 11
Views: 560

Re: Schedule C versus Schedule E

Thanks for the responses.
if i understand correctly, do i ignore the existence of the llc for tax filing purposes? or just add it in the Schedule C.
I have the EIN number for my llc.
by keith6014
Sun Mar 19, 2017 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Schedule C versus Schedule E
Replies: 11
Views: 560

Schedule C versus Schedule E

I started renting out a condo in 2016 used for personal use before . Before renting it out, i started a sole member LLC and then moved my condo under it. How do i report rental income? is it schedule C or Schedule E. Based on the research, it seems to me that i need to report rental income under sch...
by keith6014
Sun Mar 19, 2017 9:15 am
Forum: Investing - Theory, News & General
Topic: Sitting on cash....Waiting for a crash
Replies: 129
Views: 16832

Re: Sitting on cash....Waiting for a crash

i was 100% equities then for my 401k I started to do 100% Total Bond. Age 35. Good time to start into bonds as I expect rates to rise and especially if you don't have any in your portfolio. I plan is after a downturn I will go long equities and possibly tilt bond to large cap. Yeah, I market time. ...
by keith6014
Thu Mar 09, 2017 6:24 am
Forum: Investing - Theory, News & General
Topic: Sitting on cash....Waiting for a crash
Replies: 129
Views: 16832

Re: Sitting on cash....Waiting for a crash

i was 100% equities then for my 401k I started to do 100% Total Bond. Age 35. Good time to start into bonds as I expect rates to rise and especially if you don't have any in your portfolio. I plan is after a downturn I will go long equities and possibly tilt bond to large cap. Yeah, I market time.
by keith6014
Sat Mar 04, 2017 5:30 pm
Forum: Investing - Theory, News & General
Topic: Generating Passive income
Replies: 33
Views: 3639

Re: Generating Passive income

I would normally not be grumpy/harsh in my well meaning advice but seriously man! :oops: You say you are in your mid 30s, probably a highly educated finance professional and you are asking this? Money is fungible. It doesn't know where it came from and doesn't care how it gets spent. Mental account...
by keith6014
Fri Mar 03, 2017 11:03 pm
Forum: Investing - Theory, News & General
Topic: Generating Passive income
Replies: 33
Views: 3639

Re: Generating Passive income

Pajamas wrote:
keith6014 wrote:Tenant headaches and other liabilities.


If you are dealing with tenant headaches as a real estate investor, the income you receive does not meet the traditional definition of "passive income".


so true!
by keith6014
Fri Mar 03, 2017 11:03 pm
Forum: Investing - Theory, News & General
Topic: Generating Passive income
Replies: 33
Views: 3639

Re: Generating Passive income

There was a thread earlier about a company wanting to rid of 55+ year old employees, so it got me wondering for people in their 30's and 40's what to do. This sort of situation is inevitable. I think you are engaging in some needless worrying, to be honest. The situation in 20 years may be complete...
by keith6014
Fri Mar 03, 2017 10:58 pm
Forum: Investing - Theory, News & General
Topic: Generating Passive income
Replies: 33
Views: 3639

Re: Generating Passive income

There was a thread earlier about a company wanting to rid of 55+ year old employees, so it got me wondering for people in their 30's and 40's what to do. This sort of situation is inevitable. I think you are engaging in some needless worrying, to be honest. The situation in 20 years may be complete...
by keith6014
Fri Mar 03, 2017 10:54 pm
Forum: Investing - Theory, News & General
Topic: Generating Passive income
Replies: 33
Views: 3639

Re: Generating Passive income

Isn't building up a large financial portfolio of mutual funds and gradually selling them off to meet living expenses the same thing as a "passive" income stream in that it meets the end goal objective? It always bugs me when I see people hawking books and seminars on building passive inco...
by keith6014
Fri Mar 03, 2017 10:49 pm
Forum: Investing - Theory, News & General
Topic: Generating Passive income
Replies: 33
Views: 3639

Re: Generating Passive income

Thanks everyone for your replies.
by keith6014
Fri Mar 03, 2017 8:25 am
Forum: Investing - Theory, News & General
Topic: Generating Passive income
Replies: 33
Views: 3639

Generating Passive income

There was a thread earlier about a company wanting to rid of 55+ year old employees, so it got me wondering for people in their 30's and 40's what to do. This sort of situation is inevitable. My experience is as a mid 30s male in Finance/Technology it was much harder finding a job this time than in ...
by keith6014
Wed Feb 22, 2017 10:02 pm
Forum: Investing - Help with Personal Investments
Topic: New Boglehead Millionaire
Replies: 65
Views: 7731

Re: New Boglehead Millionaire

Hello, I have nobody else to share this with so I wanted to post my new financial milestone here. I officially became a self-made millionaire today at the age of 34. That amount represents what I have invested in stocks. I am single and own no real estate. It feels surreal writing that and I feel n...
by keith6014
Mon Feb 20, 2017 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: Tracking progress to $1M portfolio and no mortgage by 40
Replies: 40
Views: 7164

Re: Tracking progress to $1M portfolio and no mortgage by 40

good thread.

around the same age as you, but have a 700k mortgage. have ways to go...
by keith6014
Sun Feb 19, 2017 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Tax software for Mac
Replies: 3
Views: 289

Tax software for Mac

I have a Mac and planning to get Turbo Tax. What edition will have all states included? We worked in 6 different states so it would be great if the software included all states. Or should I buy each individual state , which would be painful. Was wondering what my options are.
by keith6014
Mon Feb 13, 2017 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Is 130k a good salary in IT?.
Replies: 40
Views: 5503

Re: Is 130k a good salary in IT?.

Wildebeest wrote:
MDfive21 wrote:also by OP.. viewtopic.php?f=2&t=206290

quite enlightening.


I agree.

May be get to 200 K by having both spouses work?


+1
by keith6014
Thu Jan 19, 2017 7:02 pm
Forum: Personal Consumer Issues
Topic: NJ Daycare Costs: What do you pay?
Replies: 10
Views: 1447

Re: NJ Daycare Costs: What do you pay?

North Jersey. Half Day=$800 Month. Full day $1500. Kid aged 2.5
by keith6014
Mon Jan 16, 2017 8:46 pm
Forum: Personal Consumer Issues
Topic: Heavy duty cordless drill/hammerdrill recommendation
Replies: 17
Views: 1050

Re: Heavy duty cordless drill/hammerdrill recommendation

strongly recommend Milwaukee.
heavy duty, go for the brushless
absolute beast.

I also think your current drill DEWALT is pretty good. Maybe the drill bits are getting worn out.
by keith6014
Mon Jan 16, 2017 12:28 pm
Forum: Investing - Theory, News & General
Topic: Real Estate Crowdfunding
Replies: 22
Views: 3054

Re: Real Estate Crowdfunding

Just reviving this thread. For those who have been doing REC (Real Estate Crowdfunding) longer than 12 months, how have things turned out? I am thinking of putting a portion of my earnings into it starting this year to have a a stream of passive income. I've invested in UK property crowdfunding and...
by keith6014
Mon Jan 16, 2017 12:09 pm
Forum: Investing - Theory, News & General
Topic: Real Estate Crowdfunding
Replies: 22
Views: 3054

Re: Real Estate Crowdfunding

Just reviving this thread. For those who have been doing REC (Real Estate Crowdfunding) longer than 12 months, how have things turned out? I am thinking of putting a portion of my earnings into it starting this year to have a a stream of passive income. I've invested in UK property crowdfunding and...
by keith6014
Mon Jan 16, 2017 11:23 am
Forum: Investing - Theory, News & General
Topic: Real Estate Crowdfunding
Replies: 22
Views: 3054

Re: Real Estate Crowdfunding

Just reviving this thread.

For those who have been doing REC (Real Estate Crowdfunding) longer than 12 months, how have things turned out?

I am thinking of putting a portion of my earnings into it starting this year to have a a stream of passive income.
by keith6014
Mon Jan 16, 2017 12:10 am
Forum: Personal Finance (Not Investing)
Topic: How am I doin?
Replies: 31
Views: 2815

Re: How am I doin?

what is your occupation?
by keith6014
Mon Jan 09, 2017 8:45 pm
Forum: Personal Consumer Issues
Topic: advice on camera repair for sony Rx 100
Replies: 11
Views: 757

Re: advice on camera repair for sony Rx 100

great camera btw. i have one and its 3 years old. when it breaks, plan to buy rx3 with wifi.

dont get it repaired. buy new with square trade
by keith6014
Wed Nov 09, 2016 8:16 pm
Forum: Personal Consumer Issues
Topic: Wife's Colleague Scratched our car with his car
Replies: 30
Views: 4082

Re: Wifes Colleague Scratched our car with his car

sambb wrote:forget about it

+1
by keith6014
Wed Nov 09, 2016 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: Create a rental lease
Replies: 4
Views: 382

Create a rental lease

I have a tenant and need to create a lease. These are my choices: * RocketLawyer has a questionnaire which can generate a lease for me - $40 * An attorney can do it for me - $200 * I can use a free web template - Free So, is it worth going to a lawyer for creating a rental lease? Or can I use a chea...
by keith6014
Wed Sep 21, 2016 4:57 am
Forum: Personal Finance (Not Investing)
Topic: Umbrella insurance question
Replies: 11
Views: 1695

Re: Umbrella insurance question

it seems no matter what, i should get umbrella insurance, LLC and renters dwellers policy? :?
by keith6014
Tue Sep 20, 2016 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella insurance question
Replies: 11
Views: 1695

Umbrella insurance question

I am giving my condo as a rental. I own it outright. To transfer the deed to LLC the lawyer is charging me $400 fees + additional township fees. I created the LLC myself. I want to avoid this complication! My question are: 1) Can I just get umbrella insurance instead of moving my property to LLC? 2)...
by keith6014
Tue May 17, 2016 6:45 am
Forum: Personal Finance (Not Investing)
Topic: Rich But Middle Class
Replies: 233
Views: 24616

Re: Rich But Middle Class

Rich_but_middleclass wrote:One of my initial (most important) questions, as well as some pertinent information/assumptions that got lost in the

Bottom line: given doctor's salary is ~$350k and relatively stable, could we simply live off of one income?



No. You need 2x more.
by keith6014
Mon May 16, 2016 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Rich But Middle Class
Replies: 233
Views: 24616

Re: Rich But Middle Class

so you are spending about 120 a year after tuition, child care and house payments, just wondering what kind of budget is that, what do you spend your money on. I'm taking your post at face value, however I've never heard of a day trader making a steady income like that. others may want to weigh in ...
by keith6014
Sat Jan 23, 2016 10:19 am
Forum: Personal Finance (Not Investing)
Topic: High income earners and retirement budget?.
Replies: 37
Views: 5032

Re: High income earners and retirement budget?.

300k isn't a lot in high cost of living area such as NJ :annoyed
by keith6014
Sun Jan 03, 2016 10:32 am
Forum: Personal Consumer Issues
Topic: New house doors
Replies: 5
Views: 780

Re: New house doors

Thanks for response.

How much do door installation cost (worst case)? Also, should we just use a big box store to achieve our look?
by keith6014
Sun Jan 03, 2016 9:44 am
Forum: Personal Consumer Issues
Topic: New house doors
Replies: 5
Views: 780

New house doors

We have been looking for a house for the past few years and finally found a new construction. We like everything about it but the doors. We feel the builder cheaped out on the doors. We asked them to replace them with much higher quality or give us a rebate but the builder is refusing. We are workin...
by keith6014
Thu Nov 26, 2015 10:20 am
Forum: Investing - Theory, News & General
Topic: Reporter doing story on iShares ITOT
Replies: 21
Views: 2896

Re: Reporter doing story on iShares ITOT

... A fee cut from 0.07% to 0.03% is hardly significant.... Sure it has less volume than VTI but the spread is respectable. They cut the fees by 57%. I think its a big deal because others such as https://www.schwab.com/public/schwab/investing/accounts_products/investment/etfs/schwab_etfs/market_cap...
by keith6014
Mon Nov 02, 2015 10:33 pm
Forum: Personal Finance (Not Investing)
Topic: Upgrading from Condo to House Advice
Replies: 12
Views: 1657

Re: Upgrading from Condo to House Advice

Thanks for the response denovo. Eventhough this may sound crazy, I want to giving my apartment out for rental to see how things function. I have heard horror and good stories. I am not looking for a capital gain on my property but more instead of a capital preservation. This is more of a learning ex...
by keith6014
Mon Nov 02, 2015 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Upgrading from Condo to House Advice
Replies: 12
Views: 1657

Re: Upgrading from Condo to House Advice

So, I am planning to put an offer for the house we liked. How common is it for the seller to cover the closing costs? And I have the option for going with 15% down payment -- should I take it? or go with 20%? Eventhough I will have a PMI I like the 15% option I can put it in a medium/long duration m...
by keith6014
Wed Oct 21, 2015 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: Upgrading from Condo to House Advice
Replies: 12
Views: 1657

Re: Upgrading from Condo to House Advice

Thanks for your thoughts. Its important for me to get advise from people who have been through it. Its surprising that a 1br condo is only worth 200k if 3br townhouses are going for $1mm. 1br condos in my area go for 250k ish, with 3br townhouses or duplexes going for 500-700k. I will be moving up a...
by keith6014
Wed Oct 21, 2015 4:29 am
Forum: Personal Finance (Not Investing)
Topic: Upgrading from Condo to House Advice
Replies: 12
Views: 1657

Re: Upgrading from Condo to House Advice

You haven't told us your income which is kinda important for someone to offer advice on these "can I afford to buy" threads, but if you can save an additional $100K to get you from a 10% to a 20% down payment "in a few months" it sounds like you have very good income. sorry. tot...
by keith6014
Tue Oct 20, 2015 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: Upgrading from Condo to House Advice
Replies: 12
Views: 1657

Upgrading from Condo to House Advice

Hi, The situation is this: we (30y & 28y) payed off our condo a year ago and been accumulating cash and investments. We have a child, nanny and two of us living in a 1 bed/bath room condo. We are expecting another child next year. So, we thought it would be time to move to a townhouse. The probl...
by keith6014
Mon Oct 12, 2015 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Hard to live well and save on $1mm in NYC Metro
Replies: 37
Views: 2931

Re: Hard to live well and save on $1mm in NYC Metro

what do you do to have such a high income?
by keith6014
Mon Sep 07, 2015 8:24 pm
Forum: Personal Consumer Issues
Topic: college related advice for 11th grader
Replies: 180
Views: 16958

Re: college related advice for 11th grader

But if you put that you went to community college, I would want to know the story on that. If you had the resources at the time to go to a higher ranked place, but did not, I would really want to understand the reasons for your choice in a job interview because it might affect the kinds of choices ...
by keith6014
Wed Aug 26, 2015 6:59 am
Forum: Personal Finance (Not Investing)
Topic: $100 k for a MBA, worth it ?
Replies: 35
Views: 8141

Re: $100 k for a MBA, worth it ?

As an undergraduate, I don't think its worth it unless you go to a top 10 program and immediately take a MBA related (whatever that means) job. There is an expiration date to a college degree (whatever degree it is). I have a IT/CS degree and worked in financials all of my career and have had many p...
by keith6014
Sat Aug 15, 2015 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: Am I crazy? Quitting my job.
Replies: 107
Views: 19885

Re: Am I crazy? Quitting my job.

i was in a similar situation until recently. i am 3 years older than you. i had a very boring job which I was getting payed a lot of money in a semi-respectable company. i recently jumped ship due to the boredom. i am having an adjustment with the culture of the new place and i see skeletons in the ...
by keith6014
Tue Aug 04, 2015 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Putting a dollar figure to commute time
Replies: 8
Views: 1137

Putting a dollar figure to commute time

There is an interesting thread about "real estate in NYC" and it got me thinking how much people value (or don't) their commute time. The further you live away from NYC, your commute costs go up naturally but for that time (t) how much money is being "wasted" ? How would one calc...
by keith6014
Sun Aug 02, 2015 8:28 am
Forum: Personal Finance (Not Investing)
Topic: real estate in NYC
Replies: 38
Views: 3652

Re: real estate in NYC

I am in a similar situation, albeit lower income than you and we aren't diversified in our income. Both of us are in the finance industry. Not sure what your spouse does and don't think it matters if both are physicians since their services are staples. Even though you didn't ask for moving suggesti...
by keith6014
Tue Jun 02, 2015 8:42 pm
Forum: Personal Finance (Not Investing)
Topic: Buying in NYC
Replies: 28
Views: 3808

Re: Buying in NYC

can north NJ be a candidate?
by keith6014
Mon Jun 01, 2015 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: Your opinion on realistic income to live in a $1 million home?
Replies: 144
Views: 25564

Re: Your opinion on realistic income to live in a $1 million home?

what is a person to do in a High Cost of Living area? It seems the OP is from Michigan and I am not sure how the real estate is there but in North New Jersey its painful to find anything below $1M for good schools and a reasonable commute to mid town. :annoyed That depends on what one's definition ...
by keith6014
Sun May 31, 2015 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: Your opinion on realistic income to live in a $1 million home?
Replies: 144
Views: 25564

Re: Your opinion on realistic income to live in a $1 million home?

what is a person to do in a High Cost of Living area? It seems the OP is from Michigan and I am not sure how the real estate is there but in North New Jersey its painful to find anything below $1M for good schools and a reasonable commute to mid town. :annoyed
by keith6014
Mon May 11, 2015 7:49 pm
Forum: Investing - Theory, News & General
Topic: International - Who really is at 40%
Replies: 93
Views: 9841

Re: International - Who really is at 40%

My allocation for my taxable account is:
33% VFIAX (US Equities)
33% VWAHX (Muni Bond)
33% VGTSX (International)

Goal is to have 60% US. 30% International. 20% Muni bond by year end.
by keith6014
Tue Apr 28, 2015 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: engineers - please help with engineering school selection
Replies: 185
Views: 15245

Re: engineers - please help with engineering school selectio

i went to a large popular stateschool with a sTem sort of degree and work in finance. In my relatively young career (13 years), I noticed a less emphasis on engineer's school but more on personality and problem solving abilities. Some resumes I review don't even have degrees (or they chose to omit)....
by keith6014
Tue Mar 17, 2015 7:54 pm
Forum: Investing - Theory, News & General
Topic: Buy a rental property in this market ?
Replies: 42
Views: 3877

Re: Buy a rental property in this market ?

i don't think I follow. How does 8% of your gross profit equal to 100% of net profit? In my case, I am looking to make 10% after all costs (mortgage, taxes, and management fees). I hope these are realistic goals.
by keith6014
Tue Mar 17, 2015 7:07 pm
Forum: Investing - Theory, News & General
Topic: Buy a rental property in this market ?
Replies: 42
Views: 3877

Re: Buy a rental property in this market ?

Well, let me tell you about my research. I looked thru Zillow and found good properties (high rent, low crime and in good location). I spoke to few brokers who listed the house and this seemed consistent: 1) This is a great house/apartment (ofcourse) 2) You need atleast 25% downpayment 3) They can p...

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