Search found 184 matches

by mac808
Sun Feb 07, 2016 10:02 pm
Forum: Investing - Help with Personal Investments
Topic: Live off Inheritance for 3 Years, or Withdraw from 401k
Replies: 12
Views: 1244

Re: Live off Inheritance for 3 Years, or Withdraw from 401k

You need $85k before taxes or after taxes?

Do you think this need will decline once the kids go off to college? If so, by how much?
by mac808
Fri Feb 05, 2016 12:46 am
Forum: Investing - Help with Personal Investments
Topic: Clueless college new grad 22 yo, 200k income looking to start saving
Replies: 143
Views: 11170

Re: Clueless college new grad 22 yo, 200k income looking to start saving

Bogleheads, I vote to just let this kid continue on the path he's clearly determined to travel. He is smart and will learn as he goes and eventually figure it out; I don't see welfare and destitution in his future. In the meantime, we all benefit from his effort to prop up consumer spending. I did n...
by mac808
Thu Feb 04, 2016 5:11 pm
Forum: Investing - Help with Personal Investments
Topic: Clueless college new grad 22 yo, 200k income looking to start saving
Replies: 143
Views: 11170

Re: Clueless college new grad 22 yo, 200k income looking to start saving

I'm just going to say that I find the story here to be less than believable. A 22 year old making 200k a year is difficult to believe, especially since 180k is salary and 20k is consulting work. If a person is making 180k a year, as others have noted, they're probably working long hours and I'm not...
by mac808
Thu Feb 04, 2016 2:39 pm
Forum: Investing - Help with Personal Investments
Topic: Clueless college new grad 22 yo, 200k income looking to start saving
Replies: 143
Views: 11170

Re: Clueless college new grad 22 yo, 200k income looking to start saving

Thanks to those of you, particularly forevernaive, that actually took the time to analyze my situation and provide useful advice. In particular, buying a property early and renting it out has definitely been on my radar, though it might take 5+ years or so instead of the optimistic three which I pr...
by mac808
Wed Feb 03, 2016 5:23 pm
Forum: Investing - Help with Personal Investments
Topic: Clueless college new grad 22 yo, 200k income looking to start saving
Replies: 143
Views: 11170

Re: Clueless college new grad 22 yo, 200k income looking to start saving

Hey moonhalf, are you two signing a pre-nup or not?

If not, then it doesn't matter much who pays for what since it'll all be co-mingled soon anyway.
by mac808
Fri Jan 29, 2016 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: The Boglehead Way of Employment
Replies: 82
Views: 6610

Re: The Boglehead Way of Employment

Software development or health care. Job security > high salary. Whether you enjoy it or not is largely a function of the environment and co-workers (from my experience), so if you are miserable, try changing that up before you jump into an entirely new field. And like Emergdoc said, get something g...
by mac808
Fri Jan 29, 2016 12:59 pm
Forum: Investing - Theory, News & General
Topic: Japan reduces interest rates below 0
Replies: 16
Views: 2746

Re: Japan reduces interest rates below 0

If you keep a few thousand dollars in a checking account with a $5/month maintenance fee and no interest, then you're effectively paying negative interest. Same idea.
by mac808
Thu Jan 21, 2016 11:04 am
Forum: Investing - Help with Personal Investments
Topic: Screwed up tax loss harvesting
Replies: 17
Views: 1053

Re: Screwed up tax loss harvesting

When I TLH I buy and sell within a few minutes. It's just gambling/marketing timing otherwise.
by mac808
Wed Jan 20, 2016 5:21 am
Forum: Personal Finance (Not Investing)
Topic: Insane Notice / Counter Offer Situation
Replies: 61
Views: 5094

Re: Insane Notice / Counter Offer Situation

Once you give notice, you have to leave. It never really works out otherwise. If somehow they convince you to stay, they will just end up resenting you and it won't work. Good luck at the new job.
by mac808
Thu Jan 07, 2016 1:40 am
Forum: Investing - Help with Personal Investments
Topic: Inheritance questions.
Replies: 20
Views: 1802

Re: Inheritance questions.

You won't know until the funds are verified but if you are actually inheriting high 8 into 9 figures (dollars not pesos) you should retain a trust company to function as a small family office for you. Your biggest issue >= that level is generational and tax planning and that's where the good firms a...
by mac808
Sun Jan 03, 2016 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another topic about finances and marriage - premarital assets
Replies: 20
Views: 1053

Re: Yet another topic about finances and marriage - premarital assets

Are you going to get a pre-nup as well or are you just wanting to segment pre-marital from post-marital assets?
by mac808
Tue Dec 29, 2015 1:48 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house with no money down
Replies: 77
Views: 5852

Re: Buying a house with no money down

Still does not change the fact that a person can choose to spend more or less on housing. It is a choice. If it comes down to putting food on the table for your family versus buying the house, the answer should be obvious. KlangFool I don't understand this statement. If it costs $1800 for rent and ...
by mac808
Mon Dec 28, 2015 7:21 pm
Forum: Personal Consumer Issues
Topic: Retired couples with a single vehicle?
Replies: 35
Views: 2759

Re: Retired couples with a single vehicle?

2 working professionals but not dependent on car for commute (one walking distance, one work from home). no kids. urban area with a couple million people but not SF or NY. 1 car which isn't utilized much. UberX has made a big difference, just knowing that it's available in a pinch if needed allows u...
by mac808
Mon Dec 28, 2015 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house with no money down
Replies: 77
Views: 5852

Re: Buying a house with no money down

I see this thread has been derailed with meaningless rules of thumbs from 50 years ago like Home should be 3x of your income and the like. Isn't this just a meaningless rule of thumb because dirt-cheap easily accessible credit has allowed buyers to extend themselves to the farthest most precipice o...
by mac808
Thu Dec 17, 2015 1:22 am
Forum: Investing - Help with Personal Investments
Topic: VTI and Qualified vs Non Qualified Dividends
Replies: 7
Views: 646

Re: VTI and Qualified vs Non Qualified Dividends

Interesting. I would never have guessed this. If you owned REITs directly, as part of a portfolio managed for a 1% AUM fee, could the manager similarly use up all your REIT (and other) non qualified dividends (pre tax) to pay their fee before moving to other sources? For investors in the top tax bra...
by mac808
Wed Dec 16, 2015 11:05 pm
Forum: Investing - Help with Personal Investments
Topic: VTI and Qualified vs Non Qualified Dividends
Replies: 7
Views: 646

VTI and Qualified vs Non Qualified Dividends

I think I am missing something obvious here and could use it pointed out. VTI is reporting as 100% QDI for 2014 (and I assume close to or the same for 2015). But doesn't VTI include some REITs? Like 3-4% of the total fund is REITs if I remember right. REIT dividends are non qualified. So how could V...
by mac808
Wed Dec 16, 2015 3:32 pm
Forum: Investing - Theory, News & General
Topic: "Learning From the Oil Bust"
Replies: 17
Views: 2901

Re: "Learning From the Oil Bust"

Speaking of 2008 real estate prices as quoted in the first post in this thread, does anyone thing NYC or San Francisco/LA real estate prices are in some sort of bubble? SF prices are supported by a bubble in tech salaries and a great amount of foreign money being laundered, primarily from China. So...
by mac808
Wed Dec 16, 2015 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: when will cd rates go up
Replies: 17
Views: 2491

Re: when will cd rates go up

I wouldn't hold your breath. I work for a bank, and there has been no discussion of changing our rates on loans or CDs in the wake of this small Fed funds increase. Banks are awash in deposits and won't raise rates on CDs or savings accounts until they really need more cash. That won't happen until...
by mac808
Wed Nov 18, 2015 4:54 am
Forum: Personal Consumer Issues
Topic: Buying a wedding ring
Replies: 39
Views: 3494

Re: Buying a wedding ring

Grab a lab grown diamond. You'll save 50% or more and it's the same thing.
by mac808
Sat Nov 07, 2015 3:01 am
Forum: Personal Finance (Not Investing)
Topic: Cheapest decent health insurance options in Texas?
Replies: 16
Views: 1404

Re: Cheapest decent health insurance options in Texas?

I recommend http://www.gohealth.com as an alternative to healthcare.gov, I found it much easier to navigate, find, and compare plan details (e.g. which plans are HSA compliant and which are not). I found the options for those of us in great health to be on the expensive side but I guess that's a fun...
by mac808
Wed Oct 28, 2015 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: IRA Transfer Bonus
Replies: 5
Views: 560

Re: IRA Transfer Bonus

Great news. Thanks for all the replies.
by mac808
Wed Oct 28, 2015 11:39 am
Forum: Personal Finance (Not Investing)
Topic: IRA Transfer Bonus
Replies: 5
Views: 560

IRA Transfer Bonus

I have a W2 job with a 401k and a side job with a SEP IRA, each with separate limits. If I transfer some long-ago rolled over IRA funds to LendingClub (for example) and they give me a $500 transfer bonus, I assume this bonus counts as a contribution; what IRA limit does it count towards?
by mac808
Sun Oct 11, 2015 4:39 pm
Forum: Investing - Help with Personal Investments
Topic: Individual 401k vs SEP and Taxable
Replies: 8
Views: 2011

Re: Individual 401k vs SEP and Taxable

I ran across this old thread while in the same situation as OP and searching for a solution. I have a full time W2 job which maxes out SS taxes. I have a side business (single member LLC taxed as an S corp). I set up a SEP IRA. The SEP IRA plan document calls for the maximum allowed 25% contribution...
by mac808
Wed Oct 07, 2015 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Help With Job Offer in Bay Area
Replies: 27
Views: 3167

Re: Help With Job Offer in Bay Area

You seem realistic about the costs. $2500 is doable with roommates. Living alone I would budget $3500 minimum. Jump in and see how it goes. COLA is too high to retire there (you'll understand after being there for awhile) so keep that in mind for the future. One other downside is dating (for men). T...
by mac808
Wed Sep 30, 2015 10:01 am
Forum: Personal Finance (Not Investing)
Topic: prenup in case of divorce
Replies: 75
Views: 5522

Re: prenup in case of divorce

Watch ''Divorce Corp'' on Netflix and it might change your opinions of divorce and the necessity for pre-nups. Divorce in America has become a big business and many times you aren't dealing with your rational stb ex-spouse but his or her legion of lawyers who are incentivized to run up large bills f...
by mac808
Thu Sep 17, 2015 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: California FTB Request for Tax Return
Replies: 9
Views: 967

Re: California FTB Request for Tax Return

You should contact a tax attorney in California who has experience dealing with the FTB. Friends of mine have dealt with them and they are extremely aggressive even beyond the point of common sense. For example, the FTB could claim that you became a CA resident in Sept 2012 and remained one througho...
by mac808
Fri Aug 14, 2015 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Am I crazy? Quitting my job.
Replies: 107
Views: 18023

Re: Am I crazy? Quitting my job.

OP I've been in your shoes before. Thug it out. Just pretend you are a double agent or something. Start a blog or side biz online to keep the brain stimulated. Be as frugal as possible. Make it 3 years, take the $ and run. Not much difference between 28 and 31 (or 33) in the grand scheme of things. ...
by mac808
Fri Jul 31, 2015 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: real estate in NYC
Replies: 38
Views: 3240

Re: real estate in NYC

I'm in the same boat. Prices are high and inflated due to the overwhelming number of wealthy international families treating NYC condos like safe deposit boxes and parking their cash here. The problem is, this behavior shows no signs of slowing down or stopping (more the opposite, as the rest of the...
by mac808
Thu Jul 23, 2015 9:49 pm
Forum: Investing - Help with Personal Investments
Topic: going to cash
Replies: 40
Views: 6821

Re: going to cash

Just a reality check for my fellow Bogleheads. Yes, the market ''feels'' high. But earnings have been strong. There is a ton of cash sitting on the sidelines just waiting to get in, and almost nothing else to invest in. I talk to a lot of private wealth managers and there's mostly just a sense of fr...
by mac808
Mon Jun 22, 2015 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Tech jobs - is job-hopping the best way to get ahead?
Replies: 92
Views: 14286

Re: Tech jobs - is job-hopping the best way to get ahead?

If you can end up at Google, Facebook, Amazon or similar then they will pay you really, really well. Just job hop until you get in the door at one of those places and then focus on doing your absolute best possible work. Almost any SV or NYC IC dev in the top 50% of Google's engineering org is pulli...
by mac808
Thu Jun 11, 2015 8:44 am
Forum: Personal Consumer Issues
Topic: Spendthrift trust
Replies: 7
Views: 803

Re: Spendthrift trust

Set up a perpetual trust that distributes 4-5% per year forever. Remove all trustee discretion. It's just a dumb allowance/annuity. As the above post notes, the more discretion there is, the more potential drama.
by mac808
Wed Jun 10, 2015 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Inheritance and Economic Outpatient Care for a Boglehead
Replies: 70
Views: 5373

Re: Inheritance and Economic Outpatient Care for a Boglehead

Gawd I hate the MND and their EOC measures. best review quote: You save your money carefully throughout your life not so you can spend it on the finer things, nor even so you can spend it on the ones you love. You save it because it’s the right thing to do. This is the Scrooge McDuck school of weal...
by mac808
Sat Jun 06, 2015 1:39 am
Forum: Personal Finance (Not Investing)
Topic: Frugal Millionaires Article...Sounds Like Bogleheads
Replies: 80
Views: 13255

Re: Frugal Millionaires Article...Sounds Like Bogleheads

You know, I would like to believe all the hype about "the millionaire next door", and how a working stiff just needs to work, save diligently, and invest wisely to become affluent. But playing devil's advocate, I wonder how many of those millionaires got where they were largely due to jus...
by mac808
Thu Jun 04, 2015 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Big Decision to Make
Replies: 58
Views: 9975

Re: Big Decision to Make

Do it. I'm a tech entrepreneur. I lived under my desk for a few years and emerged with financial independence. It's worth it. With a fast internet connection and a VPN, you can entertain yourself from anywhere these days. Your wife could even work online, which would be another tax free income, plus...
by mac808
Sat Apr 11, 2015 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: how to deal with it [regret over past investing choices]
Replies: 74
Views: 7323

Re: regret and depression...how to deal with it

What if you had invested it all in 2007?
by mac808
Fri Apr 10, 2015 3:35 pm
Forum: Investing - Theory, News & General
Topic: Hypothetical End Game Scenario w/ 5M retirement account
Replies: 74
Views: 8978

Re: Hypothetical End Game Scenario w/ 5M retirement account

The 5 million figure is irrelevant. You're basically saying that you've saved up enough so that you have as much disposable income in retirement as you did while you were working. And now you want to know how to spend it. I think the real question might be something else, or there might be some othe...
by mac808
Fri Apr 10, 2015 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup
Replies: 139
Views: 13815

Re: Prenup

I view a prenup as a pre-negotiated divorce. You can have it say whatever you want (with some restrictions). For example, you could have it split assets 50/50 down the middle. That might be viewed by both parties as fair and still save the potential headache of one future crazy spouse hiring expensi...
by mac808
Mon Mar 30, 2015 8:59 pm
Forum: Personal Consumer Issues
Topic: Ad Blockers
Replies: 41
Views: 3502

Re: Ad Blockers

Adblock Plus used to be good but they have sold out recently, allowing ad networks to pay them to be ''whitelisted'' and get ads through. (They claim they do this very rarely but in reality hundreds of networks and sites are whitelisted, and even if they scaled it back, why use an adblocker that do...
by mac808
Mon Mar 30, 2015 5:15 pm
Forum: Personal Consumer Issues
Topic: Ad Blockers
Replies: 41
Views: 3502

Re: Ad Blockers

I've used Adblock Plus for several years, like it a lot and intend to stick with it. Reading other message boards, Ublock's primary advantage is when it's used on memory constrained PC's (less than 2 MB of memory). I've got lots more than that so will stay with what works for me. Hey steelersfan ju...
by mac808
Mon Mar 30, 2015 4:12 pm
Forum: Personal Consumer Issues
Topic: Ad Blockers
Replies: 41
Views: 3502

Re: Ad Blockers

by mac808
Mon Mar 30, 2015 2:47 pm
Forum: Personal Consumer Issues
Topic: Ad Blockers
Replies: 41
Views: 3502

Re: Ad Blockers

Adblock Plus used to be good but they have sold out recently, allowing ad networks to pay them to be ''whitelisted'' and get ads through. (They claim they do this very rarely but in reality hundreds of networks and sites are whitelisted, and even if they scaled it back, why use an adblocker that doe...
by mac808
Tue Mar 17, 2015 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Best job offer: startup vs spinoff?
Replies: 18
Views: 2030

Re: Best job offer: startup vs spinoff?

You mention the 409a is 40m. Is that for the Series A (presumably) preferred stock or the (presumably) common stock that you hold? Or did you mean the Series A valuation was 40m?
by mac808
Sat Mar 14, 2015 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: If I Knew Then What I Know Now
Replies: 61
Views: 14169

Re: If I Knew Then What I Know Now

Great advice. I would just add one thing. No doubt some people will be attracted to high cost of living areas due to the unique opportunities available in such places. In those cases, don't be afraid to live like a pauper for a few years to arbitrage the high salaries against a low cost of living, e...
by mac808
Tue Mar 10, 2015 6:51 am
Forum: Personal Finance (Not Investing)
Topic: Dad buys house for child, later complications
Replies: 14
Views: 2528

Re: Dad buys house for child, later complications

It's rare for families to want assets to flow from child to parent, it's usually the other way around. Why not just rent the property yourself and put the rent into an account that the parents can tap if needed, but which otherwise is outside of their estate? Alternatively you could sign a lucrative...
by mac808
Sat Mar 07, 2015 6:33 pm
Forum: Personal Consumer Issues
Topic: Is this ethical? [Selling company equipment to be disposed]
Replies: 41
Views: 2561

Re: Is this ethical?

OP, I've been an exec in a large public company before. Most people are giving you bad advice because in my opinion they don't understand how these orgs work. This is a classic don't ask, don't tell, don't care situation. Your friend's boss doesn't want to know and certainly won't put anything in wr...
by mac808
Sat Mar 07, 2015 5:51 pm
Forum: Personal Consumer Issues
Topic: Is this ethical? [Selling company equipment to be disposed]
Replies: 41
Views: 2561

Re: Is this ethical?

No problem from what I can see. You're exhibiting some real American entrepreneurial spirit, and recycling to boot. As silly as it seems you may want to have your friend actually toss them into the trash (as the drop off/pick up spot) and then I believe you have a legal right to them, plus the compa...
by mac808
Fri Feb 27, 2015 10:52 pm
Forum: Investing - Help with Personal Investments
Topic: finding a buyer for private equity - avoiding commissions
Replies: 21
Views: 1676

Re: finding a buyer for private equity - avoiding commission

PM me if you are interested and I can take a look at the details. I lead a small group that does secondary market transactions (fb, twitter pre-ipo, now pinterest, palantir, etc). The hardest part is establishing valuation since common stock is rarely bought or sold.
by mac808
Mon Feb 23, 2015 9:27 pm
Forum: Personal Consumer Issues
Topic: Luxury Car
Replies: 86
Views: 8206

Re: Luxury Car

I had a Ferrari California for awhile, it was nice (esp the auto hard top which I loved) but I constantly worried about dings, parking it down town, or friends asking to borrow it. All of which just became one more thing to worry about. Now I have a Jeep Grand Cherokee and IMO it's the perfect car -...
by mac808
Sat Feb 21, 2015 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Poll: How Would You Want Your Estate Divided?
Replies: 43
Views: 4309

Re: Poll: How Would You Want Your Estate Divided?

Our family is likely an outlier. We leave money for those members who have not finished their education. After that, you are out of the will (well, my father left a token amount of $10,000 to $20,000) and proceeds go to charity. I'm the third generation (might go back farther, I don't know) with th...
by mac808
Tue Feb 17, 2015 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: 5 by Power 5 rule on a trust?
Replies: 17
Views: 2080

Re: 4% rule on a trust?

Some random hypotheticals At age 24 Child A is accepted to Harvard Med School and wants to use her inheritance to pay tuition and costs. Will the 4% cover this? At age 25 Child B is partner in a tech startup and needs $100,000 in seed money to get the business venture off the ground. Will his 4% co...

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