Search found 393 matches

by mac808
Thu Aug 17, 2017 12:39 pm
Forum: Personal Consumer Issues
Topic: Is it worth it? [demanding jobs vs time with family]
Replies: 108
Views: 3648

Re: Is it worth it? [demanding jobs vs time with family]

What could they be teaching a toddler that would possibly be "far outside" an adult's knowledge base. Examples of topics that have been taught that are outside of my knowledge base include sign language, Chinese, French, karate, violin, and yoga. Pre-K kids are of course not going to master (or eve...
by mac808
Thu Aug 17, 2017 10:21 am
Forum: Investing - Help with Personal Investments
Topic: Bitcoin
Replies: 115
Views: 6420

Re: Bitcoin

When bitcoin is no longer mine-able, obviously, miners can't profit from mining. Not to nitpick but it's worth restating: miners can heavily influence how Bitcoin functions, and miners and exchanges together (and there seems to be much overlapping ownership) can almost totally control how Bitcoin f...
by mac808
Thu Aug 17, 2017 10:18 am
Forum: Personal Consumer Issues
Topic: Is it worth it? [demanding jobs vs time with family]
Replies: 108
Views: 3648

Re: Is it worth it? [demanding jobs vs time with family]

Life is utterly impossible without judgment, in spite of all cant to the contrary. Every minute of the day involves multiple acts of judgment, including moral judgment. When someone posts something entitled "Is it worth it? [demanding jobs vs time with family]" this especially invites judgment, par...
by mac808
Thu Aug 17, 2017 10:14 am
Forum: Personal Consumer Issues
Topic: Is it worth it? [demanding jobs vs time with family]
Replies: 108
Views: 3648

Re: Is it worth it? [demanding jobs vs time with family]

The curriculum at daycare is fantastic and our daughter is learning about things that are far outside of her parents' knowledge base. She is also getting tons of socialization with other children. What could they be teaching a toddler that would possibly be "far outside" an adult's knowledge base? ...
by mac808
Thu Aug 17, 2017 10:11 am
Forum: Personal Consumer Issues
Topic: Is it worth it? [demanding jobs vs time with family]
Replies: 108
Views: 3648

Re: Is it worth it? [demanding jobs vs time with family]

Doesn't this usually come down to how much momentum your career loses by taking a few years off? If you can hit "pause" for 3 years and then pick up right where you left off once the kids are in school full time, why not take time off? If by taking time off you close the door forever on certain care...
by mac808
Thu Aug 17, 2017 6:42 am
Forum: Investing - Help with Personal Investments
Topic: Bitcoin
Replies: 115
Views: 6420

Re: Bitcoin

Merchants may prefer it over credit cards because there are no fees or chargebacks. Remember, the transaction time for bitcoin may be slow compared to credit cards, but the settlement time for credit cards is around 1 month (the time after which you cannot do chargebacks). Look at some of the large...
by mac808
Wed Aug 16, 2017 6:32 am
Forum: Investing - Help with Personal Investments
Topic: California - clarification on taxes
Replies: 36
Views: 2300

Re: California - clarification on taxes

Thanks guys. I'm only talking about the very last dollar, so effective rate and itemizing is irrelevant right? Effective rate wouldn't be relevant, but itemizing would lower the marginal rate by 2.6% (.28 [marginal fed rate] * .093 [marginal state rate] = ~ .026). Marginal rate meaning the % tax pa...
by mac808
Wed Aug 16, 2017 5:58 am
Forum: Investing - Help with Personal Investments
Topic: California - clarification on taxes
Replies: 36
Views: 2300

Re: California - clarification on taxes

Yes, but with some caveats: - The 6.2% social security tax only applies on the first $127,200 of earnings (2017). The 28% Federal bracket goes up to $191,650 (2017). So to the extent your taxable income falls between those two numbers, your marginal tax rate would decrease for dollars beyond $127,20...
by mac808
Tue Aug 15, 2017 10:05 pm
Forum: Investing - Help with Personal Investments
Topic: Bitcoin
Replies: 115
Views: 6420

Re: Bitcoin

None of these arguments for bitcoin address the fundamental problem. What is the value of bitcoin? Everyone buying it thinks it will be worth more in the future. Okay, so how high? At what market cap will it be fairly valued? Nobody ever has an answer for this. Currently the market cap is around 70...
by mac808
Mon Aug 14, 2017 3:48 pm
Forum: Investing - Theory, News & General
Topic: What a Low Return Outlook Means for Your Retirement?
Replies: 42
Views: 4763

Re: What a Low Return Outlook Means for Your Retirement?

All of these discussions seem to lead to the same idea, that we should be thinking about SWR as the sum of two components: spending required to maintain absolute minimum desired standard of living, and then additional spending to cover luxuries and other non-necessities. Perhaps it's 3% + 1% = 4%. T...
by mac808
Mon Aug 07, 2017 9:09 pm
Forum: Personal Finance (Not Investing)
Topic: kids think lazy if retire?
Replies: 70
Views: 7718

Re: kids think lazy if retire?

I suppose that all kids and circumstances are different, but I'll risk going against the crowd here and say that I think it can be challenging to parent effectively, especially as a father, if you are doing nothing. Kids seem to pay attention to actions, not words. You're a 24/7 role model. If you ...
by mac808
Mon Aug 07, 2017 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: kids think lazy if retire?
Replies: 70
Views: 7718

Re: kids think lazy if retire?

I suppose that all kids and circumstances are different, but I'll risk going against the crowd here and say that I think it can be challenging to parent effectively, especially as a father, if you are doing nothing. Kids seem to pay attention to actions, not words. You're a 24/7 role model. If you a...
by mac808
Wed Jul 19, 2017 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Those Of You In a HCOLA - What's Your Financial Plan
Replies: 68
Views: 6981

Re: Those Of You In a HCOLA - What's Your Financial Plan

Those seem like low/starter salaries for a HCOL area and you said you were mid 20s so indeed you are just starting out. You can only cut expenses so much. I would focus on getting income up through any opportunities available to you (more training, job hopping, side hustles). Those opportunities are...
by mac808
Fri Jun 30, 2017 1:59 pm
Forum: Personal Consumer Issues
Topic: just in case you want to move to florida.
Replies: 4
Views: 1408

Re: just in case you want to move to florida.

What about Tampa and Orlando?
by mac808
Fri Jun 30, 2017 1:57 pm
Forum: Personal Consumer Issues
Topic: Robocalls! -- current best call blocker?
Replies: 58
Views: 5853

Re: Robocalls! -- current best call blocker?

Supposedly if you pick up the call, wait 3 seconds in silence, and then hang up, it charges them a little bit of $ and eventually they will add you into their systems and quit calling. I just started trying this with any unknown numbers so I'll report back if it works.
by mac808
Fri Jun 30, 2017 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Stress Testing Plans: How much stress?
Replies: 34
Views: 2469

Re: Stress Testing Plans: How much stress?

In Detroit's bk restructuring the pensions were reduced 5-10% and COLA was eliminated. I think that's a decent stress test for anyone on a local (most at risk), state (intermediate), or federal (least at risk) pension. Healthcare costs also went up significantly, so perhaps just assume that you'll b...
by mac808
Thu Jun 29, 2017 3:31 pm
Forum: Personal Consumer Issues
Topic: How did you handle the costs of your child's wedding?
Replies: 170
Views: 12341

Re: How did you handle the costs of your child's wedding?

We have three sons, two of whom got married this year. Eldest and his wife are bay area engineers and footing the bill for their several geographically dispersed celebrations. Youngest one's wife's family picked up what, to us, seemed to be a pricey, small wedding. (We did buy dinner for the six of...
by mac808
Sun Jun 25, 2017 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: irrevocable trust for children receiving an inheritance
Replies: 54
Views: 4081

Re: irrevocable trust for children receiving an inheritance

I believe that if all parties agree, you can change the terms of the trust and might be able to avoid creating a new trust.
by mac808
Sun Jun 25, 2017 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Mediator for ownership division of primary home
Replies: 46
Views: 1728

Re: Mediator for ownership division of primary home

OP I've been in a very similar situation. You need to go with your mom and find out what exactly the legal position on ownership is. Per one of your earlier posts, she believes the law would back her up regarding 80/20 ownership. Well, find out for sure. If the law backs up 80/20, then your mom has ...
by mac808
Sat Jun 24, 2017 7:35 am
Forum: Personal Finance (Not Investing)
Topic: Can we/should we afford a $2M house?
Replies: 93
Views: 12544

Re: Can we/should we afford a $2M house?

My opinion is that these cases come down to stability of jobs and income. Are you a vascular surgeon, or a biglaw attorney, or a senior engineer at a tech company with generous RSUs? Ditto for your wife - assume she will want to quit working when kids are little - how easily can she take 5-8 years o...
by mac808
Fri Jun 23, 2017 9:35 pm
Forum: Personal Consumer Issues
Topic: Bitcoin in the event of owner death
Replies: 10
Views: 1277

Re: Bitcoin in the event of owner death

There is no good solution to this problem. Anyone to whom you entrust the key could take the money. You can use a safe deposit box or similar to increase the security of a printed key but it's not perfect. If you use an online service, all an attacker needs to compromise is your first and second fac...
by mac808
Thu Jun 15, 2017 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Curious to odd estate question
Replies: 88
Views: 5466

Re: Curious to odd estate question

Despite all the Bitcoin hype lately this seems to be an effective use case for it. You can use a Bitcoin account to store all value while you're alive (and save/spend as needed). If you keep your password in your head and never write it down, then the moment you die, it's gone forever.
by mac808
Tue Jun 13, 2017 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Who takes financial chances and why is this forum so financially conservative?
Replies: 139
Views: 12892

Re: Who takes financial chances and why is this forum so financially conservative?

To me, if you have a "fear of missing out," you just don't get it. Adjust your lifestyle and expectations, be happy with what you have and keep everything in balance. Once you reach a certain point, you don't have to spend a lot of additional money to life a satisfying and fulfilling life...
by mac808
Sun Jun 11, 2017 12:06 pm
Forum: Investing - Theory, News & General
Topic: Bitcoin: The worst investment in 2014
Replies: 83
Views: 11220

Re: Bitcoin: The worst investment in 2014

I had a debate about this with my sister (recent bandwagon joiner) last night. I pointed out that there were important reasons that modern society moved away from bearer assets (not just anti-money laundering). I suspect some Bitcoin investors will re-learn those painful lessons.
by mac808
Sat Jun 10, 2017 6:00 am
Forum: Investing - Theory, News & General
Topic: "Here's why bonds still belong in your portfolio."
Replies: 8
Views: 2286

Re: "Here's why bonds still belong in your portfolio."

I'll confess when risk-free FDIC accounts are paying 1.25% and 3 year CDs are paying 2% I've had a hard time understanding the value of certain shorter and medium term bond funds.
by mac808
Thu Jun 08, 2017 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: How to deal with a personal finance cynic
Replies: 109
Views: 6499

Re: How to deal with a personal finance cynic

One of my dad's favorite sayings: "Whether you think you can or you think you can't, you're probably right."
by mac808
Thu Jun 08, 2017 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Married filing separately vs staying single for tax savings
Replies: 31
Views: 2569

Re: Married filing separately vs staying single for tax savings

If you don't get married but do have the ceremony, do not travel to Texas together as a couple until the 4.5 years is past. Common law marriage is very easy to trigger in Texas, even for a brief stopover. This sounds a little extreme to me. Does anyone know of any instances of a "married coupl...
by mac808
Thu Jun 08, 2017 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Any tips on creating a budget for a SAHM ?
Replies: 24
Views: 1949

Re: Any tips on creating a budget for a SAHM ?

Why not create one account for common expenses (kids, food, housing), and two smaller (equal) accounts for personal expenses? Seems like it's fair that you would each spend the same amount on clothes and personal items.
by mac808
Tue Jun 06, 2017 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: I'm considering buying a house in the $800k range.. can I?
Replies: 67
Views: 6596

Re: I'm considering buying a house in the $800k range.. can I?

I'm really curious how a 29 year old has a work at home job that pays upwards of $360k a year. Looking back at past posts, he was making about $100k two and a half years ago, so he has done well in performance over the last couple years. Understanding how likely his income will continue at this lev...
by mac808
Tue Jun 06, 2017 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Chicago Real Estate
Replies: 24
Views: 2560

Re: Chicago Real Estate

I've spent a lot of time studying the numbers in Illinois in connection with some municipal bond projects. I don't think the State will BK but it will get REAL close and (in order to avoid that scenario) all taxes will be going up significantly - income and property taxes especially. Both are likely...
by mac808
Tue Jun 06, 2017 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Anti virus protection
Replies: 27
Views: 2366

Re: Anti virus protection

Another recommendation here for Avast anti virus, it's free and excellent. Since Microsoft has taken Windows 10 more in the direction of tracking user data/profiles and becoming an ad platform, I don't trust them as much (mixed incentives), and would use one of the free alternatives to Defender no m...
by mac808
Tue Jun 06, 2017 5:10 am
Forum: Investing - Help with Personal Investments
Topic: High Income Earner Humbly Seeks Advice
Replies: 81
Views: 13273

Re: High Income Earner Humbly Seeks Advice

Cutterinnj- what about advertising? Like livesoft said- flyers? Say you run an HVAC company and send out information to customers, TV ads, business cards, etc. that would easily costs you $5k. Accountant said if asked it needs to be a reasonable fee for work. LongTerm -- Just a real world reality c...
by mac808
Sun Jun 04, 2017 7:39 pm
Forum: Investing - Help with Personal Investments
Topic: High Income Earner Humbly Seeks Advice
Replies: 81
Views: 13273

Re: High Income Earner Humbly Seeks Advice

I'm assuming you are a nsx taking lots of trauma call and working around the clock. This goes without saying but make sure you have great malpractice coverage, as even post tort reform in Texas I've heard of some frightening cases. Disability also. Investing efficiently is great, but you need to do ...
by mac808
Sun May 21, 2017 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Watching elderly family members burn money
Replies: 17
Views: 2778

Re: Watching elderly family members burn money

I agree that auctions can be expensive but even so, are often better than rooms full of stuff left behind for kids to deal with. That said, if grandma prevented her daughter from taking a <$100 painting that held sentimental value then there are clearly psychological more so than financial issues in...
by mac808
Tue May 16, 2017 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone else agree with my logic on silicon valley housing?
Replies: 84
Views: 7825

Re: Anyone else agree with my logic on silicon valley housing?

Silicon Valley is full of couples who make $300k to $500k each for household income of $600k to a million. It's nirvana for these people because of the abundance of well paid tech HQ jobs. @ $250k/year, as others have mentioned here, you're better off moving somewhere else (maybe Austin, maybe elsew...
by mac808
Tue May 16, 2017 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Retirees afraid to spend? (Bloomberg)
Replies: 47
Views: 2954

Re: Retirees are hoarding cash

Wouldn't the 2009 financial crisis be expected to create another mini generation of "depression era" folks?
by mac808
Sat May 13, 2017 11:02 am
Forum: Investing - Help with Personal Investments
Topic: I'm hoping I didn't quit too soon
Replies: 8
Views: 2743

Re: I'm hoping I didn't quit too soon

Is that 40k pulled from IRAs pre-tax or after-tax? Have you given thought to what your marginal tax rate will be in retirement?
by mac808
Fri May 12, 2017 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Will I ever have enough for a condo/house in Cali?
Replies: 42
Views: 3452

Re: Will I ever have enough for a condo/house in Cali?

California is not a comfortable place for those who make $60k and don't own a (mortgage free) home. Living at home is very smart. You should laser-focus on getting income up, and forget about buying a home (for now). What do you do for work? You might be underpaid as is.
by mac808
Mon May 08, 2017 10:53 pm
Forum: Investing - Theory, News & General
Topic: If everybody indexed, the only word you could use is chaos, catastrophe
Replies: 66
Views: 8603

Re: If everybody indexed, the only word you could use is chaos, catastrophe

It seems intuitive that if there are fewer price setters in the market then we could see more short-term price volatility, but if you buy and hold for the long haul, then how much does short-term volatility matter?
by mac808
Mon May 08, 2017 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Remarried parent wants to leave house in trust to children. Implications?
Replies: 8
Views: 1487

Re: Remarried parent wants to leave house in trust to children. Implications?

You should talk to a lawyer. As the other poster mentioned, Bruce Steiner is excellent. Part of the house's value may be community property, depending on how long your friend has been married, and the value of the house at time of marriage versus now. In which case, you would most likely need to get...
by mac808
Fri May 05, 2017 1:18 pm
Forum: Investing - Theory, News & General
Topic: Buffett/IBM
Replies: 73
Views: 6475

Re: Buffett/IBM

Almost every technology company is one great CEO and management team away from a renaissance, or one poor CEO and management team away from irrelevance.
by mac808
Thu May 04, 2017 2:52 pm
Forum: Investing - Help with Personal Investments
Topic: Is there a limit on the number of times an Inherited IRA can be passed down?
Replies: 3
Views: 790

Re: Is there a limit on the number of times an Inherited IRA can be passed down?

I'm interested in the ability to leave an IRA to a trust for a group of very young beneficiaries (grandchildren). From what I've read, it seems like the RMD schedule is based on the age of the eldest beneficiary. As newly-born grandchildren are added to the mix, I assume they would just receive thei...
by mac808
Mon May 01, 2017 12:55 am
Forum: Local Chapters and Bogleheads Community
Topic: John Bogle's Legacy!
Replies: 19
Views: 3275

Re: John Bogle Will Pass Away Someday.

I watched the video tour of Mr Bogle's office the other day and it occurred to me that he has created a great, well-run, principled company (the embodiment of many of his personal values) that will outlast him for decades, perhaps centuries. I've worked for many founders of companies (a few multi-bi...
by mac808
Mon Apr 24, 2017 2:21 pm
Forum: Investing - Theory, News & General
Topic: Reasons to Hold Corporate Bonds vs. Munis, given equal after-tax yield?
Replies: 7
Views: 824

Re: Reasons to Hold Corporate Bonds vs. Munis, given equal after-tax yield?

When confronted with questions like this I think back to "diversification is the only free lunch". I would divide dollars between the two, with an eye to correlated risk exposure that the rest of your portfolio might share with each type.
by mac808
Sun Apr 23, 2017 5:09 pm
Forum: Personal Consumer Issues
Topic: If you are financially independent, how much monywould you bother to make?
Replies: 31
Views: 3953

Re: If you are financially independent, how much monywould you bother to make?

I do 1-2 promos a quarter, more out of curiosity and a desire to remain "street smart" and connected to what's going on in the consumer credit, banking, and loyalty markets, than any meaningful financial upside. If you enjoy it, then I'd do it; if not, then I wouldn't.
by mac808
Sun Apr 23, 2017 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Helping adult children
Replies: 81
Views: 9002

Re: Helping adult children

It sounds like your sons are both mature and well-adjusted (congrats), so I would be as transparent as possible with them. If someone has an issue, let them raise it, make their arguments, and propose a solution. I think it's reasonable to "true up" son #2 who might not need as much help, ...
by mac808
Thu Apr 20, 2017 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford to purchase this new house?
Replies: 13
Views: 1498

Re: Can we afford to purchase this new house?

How stable is your income? Whenever I read these threads I always think there's a world of difference between someone in health care versus sales, etc. Stability of career and income seems increasingly important these days.
by mac808
Tue Apr 18, 2017 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford private school for my kids?
Replies: 67
Views: 5677

Re: Can I afford private school for my kids?

I don't know how student/teacher ratios translate into classroom sizes, but your kids are very unlikely to learn anything at all in a class with >20 students.
by mac808
Sun Apr 16, 2017 8:45 am
Forum: Personal Finance (Not Investing)
Topic: My kids don't care about saving
Replies: 114
Views: 12198

Re: My kids don't care about saving

Have you given them books to read like the bogleheads guide, the millionaire next door, and your money or your life? May be helpful if they hear the message from a more objective source.
by mac808
Wed Apr 12, 2017 9:52 am
Forum: Personal Finance (Not Investing)
Topic: NY Free College for household AGI less than $125k
Replies: 3
Views: 520

Re: NY Free College for household AGI less than $125k

In a completely apolitical voice I would tell you to get ready for a lot more of this coming down the pipe from Government at all levels. There are likely a great many means-testing type programs headed our way. It's actionable in the sense that you can plan accordingly, either reducing your retirem...