Search found 23 matches

by miamivice
Mon Apr 11, 2016 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Hitting new saving target. Lifestyle changes ahead?
Replies: 5
Views: 1455

Hitting new saving target. Lifestyle changes ahead?

Probably in the next 2-3 months I'll hit $500,000 in a taxable account. My retirement and college accounts are also doing proportionally well. I'm just musing, as I have for a couple years now, is it time for some lifestyle changes? For example, do I really need to stay at Motel6? Or could I conside...
by miamivice
Sun Apr 03, 2016 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Bought a farm for $1
Replies: 18
Views: 3296

Re: Bought a farm for $1

What does the lawyer that helped your aunt have to say about all this? :) Exactly what I was thinking! And as much as I respect the Bogleheads site, I would not take any legal tax advice from people here. Cosmo There are probably a lot of questions that are difficult enough to rise to the need of s...
by miamivice
Sat Apr 02, 2016 11:08 pm
Forum: Personal Finance (Not Investing)
Topic: Bought a farm for $1
Replies: 18
Views: 3296

Re: Bought a farm for $1

You were gifted the farm, since $1 does not reflect the value that a willing but not obligated seller would sell the land to a willing but not obligated buyer (i.e., fair market of the land).
by miamivice
Wed Mar 30, 2016 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Photography business early stage, tax and other
Replies: 16
Views: 957

Re: Photography business early stage, tax and other

How soon will this business turn profitable? I wouldn't expect photography to be a highly profitable business. You might want to look to see how the IRS discussion on hobby versus business as well.
by miamivice
Wed Mar 30, 2016 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: How to decide how much to spend on a house?
Replies: 22
Views: 3020

Re: How to decide how much to spend on a house?

30 year fixed with 20% down whose payment is no more than 25% of your gross pay, if you have no other debts. Even that is just a guideline; if you have already saved a lot you can obviously go bigger. I have a 40 minute commute by choice. My kids go to a great public school and I have my great job....
by miamivice
Wed Mar 30, 2016 10:36 am
Forum: Personal Finance (Not Investing)
Topic: How to decide how much to spend on a house?
Replies: 22
Views: 3020

Re: How to decide how much to spend on a house?

... I would say that our townfolk overall is maybe more blue collar and less white collar. ... There is another town that involves a shorter commute, more white collar people live there... I am wondering why you bring up this point? I'm a white collar worker and my preference is to live in a town w...
by miamivice
Tue Mar 29, 2016 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: How to decide how much to spend on a house?
Replies: 22
Views: 3020

How to decide how much to spend on a house?

I currently live in a nice house. It's big, in a nice neighborhood, and part of an excellent school district. It meets our current needs well. The downside is that the commute is long. While our particular neighborhood is nice, I would say that our townfolk overall is maybe more blue collar and less...
by miamivice
Fri Oct 30, 2015 9:17 am
Forum: Personal Finance (Not Investing)
Topic: How much of your total income are you worth?
Replies: 51
Views: 6823

How much of your total income are you worth?

I just did an interesting experiement. I added up the amount that my wife and I have made each year from birth until now, and got a total. Then I took our total net worth, and divided it by the total income that we've made. My number came out to 0.772. In other words, we are currently worth 77% of w...
by miamivice
Wed Oct 28, 2015 1:51 am
Forum: Personal Finance (Not Investing)
Topic: Should I increase the rate at which I'm saving up for retirement?
Replies: 36
Views: 3260

Re: Should I increase the rate at which I'm saving up for retirement?

To answer your question, I don't know why you'd need 4x your current spending in retirement. The usual goal is to replace most of the pre-retirement income from savings, less the savings rate, not to exceed pre-retirement income. This is the cusp of my original question. The $120k I expect to have ...
by miamivice
Tue Oct 27, 2015 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Should I increase the rate at which I'm saving up for retirement?
Replies: 36
Views: 3260

Re: Should I increase the rate at which I'm saving up for retirement?

I'm not going to post the details of my portfolio because I'm not asking questions about whether I have the right mix of stocks, etc. Plus it is too complicated to easily post here. The fundamental question that we all have to ask about planning for retirement is what our needs are, and how much per...
by miamivice
Tue Oct 27, 2015 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Should I increase the rate at which I'm saving up for retirement?
Replies: 36
Views: 3260

Re: Should I increase the rate at which I'm saving up for retirement?

My package consists of 4 pensions (2 social security + 2 employer) but all pensions total to a smallish number around $10,000 per year in today's dollars. The majority is in 401(k) and Roth IRA (about $110,000 per year), with about a 50/50 split between the two. Any company bankruptcy would have a ...
by miamivice
Tue Oct 27, 2015 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Should I increase the rate at which I'm saving up for retirement?
Replies: 36
Views: 3260

Re: Should I increase the rate at which I'm saving up for retirement?

My package consists of 4 pensions (2 social security + 2 employer) but all pensions total to a smallish number around $10,000 per year in today's dollars. The majority is in 401(k) and Roth IRA (about $110,000 per year), with about a 50/50 split between the two. Any company bankruptcy would have a ...
by miamivice
Tue Oct 27, 2015 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Should I increase the rate at which I'm saving up for retirement?
Replies: 36
Views: 3260

Re: Should I increase the rate at which I'm saving up for retirement?

My package consists of 4 pensions (2 social security + 2 employer) but all pensions total to a smallish number around $10,000 per year in today's dollars. The majority is in 401(k) and Roth IRA (about $110,000 per year), with about a 50/50 split between the two. Any company bankruptcy would have a s...
by miamivice
Tue Oct 27, 2015 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: Should I increase the rate at which I'm saving up for retirement?
Replies: 36
Views: 3260

Should I increase the rate at which I'm saving up for retirement?

I currently have a retirement package that will provide about $120,000 per year in today's dollar, assuming I continue to set aside at my current rate. My expenses today (excluding expenses that we will not have in retirement, but not including potential new things that we might start doing once we ...
by miamivice
Tue Aug 25, 2015 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Should I add $10,000 to a Roth IRA this year?
Replies: 6
Views: 1057

Should I add $10,000 to a Roth IRA this year?

I'm debating whether I should make an additional retirement contribution in the form of $10,000 to my Roth IRA this year. My financial situation is as follows: - No debt, except $440,000 home mortgage at 3.25% interest - Retirement savings of $400,000. About half is in Roth IRA funds which of course...
by miamivice
Mon Apr 27, 2015 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Feel like I made a mistake with buying a house: appreciation
Replies: 43
Views: 7274

Feel like I made a mistake with buying a house: appreciation

I bought a house 2.5 years ago that has appreciated by 12%. Another person I know bought a house 3 years ago that has appreciated by 120%. This person bought in a different area that is a red hot housing market. My area is not. We are both in the same metropolitian area. I'm feeling a bit bad about ...
by miamivice
Sat Apr 04, 2015 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Buy more expensive house to improve financial situation?
Replies: 37
Views: 5745

Buy more expensive house to improve financial situation?

I currently live in a $600,000 house with a $460,000 loan. The house appreciate over the last two years has been about $60,000. In my area, this is about half of what I could have compared to living in a different (more premium) location in the metropolitian region. I have $450,000 in non-retirement...
by miamivice
Fri Apr 11, 2014 4:24 am
Forum: Personal Finance (Not Investing)
Topic: Determining spending allowance for myself
Replies: 6
Views: 610

Re: Determining spending allowance for myself

Yes, the $400k is above and beyond both college savings and retirement. I consider both retirement and college savings to be "fully funded."
by miamivice
Fri Apr 11, 2014 3:49 am
Forum: Personal Finance (Not Investing)
Topic: Determining spending allowance for myself
Replies: 6
Views: 610

Determining spending allowance for myself

I have a large sum of money - about $400,000 - sitting in a investment funds that I have no intended purpose for. We are finished with college savings for our children, we have no debt, and our retirement is solid. We own a house and are making monthly payments on at a rate of 3.25%, so I'm not moti...
by miamivice
Wed Mar 05, 2014 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to rollover to a Roth IRA?
Replies: 4
Views: 344

Does it make sense to rollover to a Roth IRA?

I have about $375,000 in retirement assets. 21 years from retirement if I retire at 55, 31 years if I retire at 65. About $200,000 are in pre-tax accounts, i.e., 401(k) and Roth IRA About $175,000 are in after-tax accounts, i.e., Roth IRA I have an option to roll $50,000 of pre-tax money into a Roth...
by miamivice
Mon Dec 30, 2013 11:14 am
Forum: Personal Finance (Not Investing)
Topic: $400,000 at age 35 - should I start spending more?
Replies: 28
Views: 4924

Re: $400,000 at age 35 - should I start spending more?

My mortgage balance is $450,000. It's tempting to pay it off, but I pay 3.25% interest (about 2.5% after tax advantages due to mortgage deducation), and I figure I'll do at least that well investing for the long term in the stock market. The $400,000 in non-retirement could be used for retirement, b...
by miamivice
Mon Dec 30, 2013 7:19 am
Forum: Personal Finance (Not Investing)
Topic: $400,000 at age 35 - should I start spending more?
Replies: 28
Views: 4924

$400,000 at age 35 - should I start spending more?

I recently conducted a year end review of my financial status. It looks like I have $400,000 in non-retirement/non-housing assets. Other assets include $350,000 in retirement, $150,000 in home equity, and $100,000 in college savings. I'm 35. I'm having a hard time grasping what I'll do with the $400...
by miamivice
Tue Jun 11, 2013 11:48 am
Forum: Investing - Help with Personal Investments
Topic: How to invest $100,000
Replies: 3
Views: 1153

How to invest $100,000

I have $100,000 to invest. I'd like to hear that you'd go about investing this sum of money. It's money I've had for a long time, set aside for a particular purpose, and turned out didn't need it for that purpose. I'd like to invest it and help it grow because it is not earning interest as cash righ...

Go to advanced search