Search found 128 matches

by miamivice
Tue Aug 16, 2016 8:04 pm
Forum: Investing - Help with Personal Investments
Topic: Borrowing money to invest. Good idea?
Replies: 68
Views: 4223

Borrowing money to invest. Good idea?

With mortgage rates low, I can get a 10 year HELOC for a 4% fixed interest rate. I can borrow a six figure sum if I choose. It is tempting to invest it in the stock market, as the market has returned a 8.5% average ROI for me over the last 10 years. Of course, there would be risk. Good idea or bad i...
by miamivice
Thu Aug 11, 2016 5:01 am
Forum: Investing - Help with Personal Investments
Topic: Purchasing land as an investment
Replies: 14
Views: 1267

Purchasing land as an investment

I am looking at purchasing a building lot for investment purposes, and wanted to get some opinions on it. I can pay cash for it from my taxable (it would use up about 65% of my taxable account value). I would still have a sufficient emergency fund left over after the purchase. Buying the land would ...
by miamivice
Tue Aug 09, 2016 12:51 am
Forum: Investing - Help with Personal Investments
Topic: How does a Boglehead save for child's education?
Replies: 138
Views: 9362

Re: How does a Boglehead save for child's education?

It is a long answer, I think I would like to add, that investing is very personal. 529 is part of my overall investment strategy, I don't see it as an isolated, separated account from the rest of our finance. I do not think 529 is the best answer for education. If you can give it to your grandchild...
by miamivice
Mon Aug 08, 2016 8:46 pm
Forum: Investing - Help with Personal Investments
Topic: How does a Boglehead save for child's education?
Replies: 138
Views: 9362

Re: How does a Boglehead save for child's education?

After writing down my options, I am convinced that putting money to 529 before retirement funds has only limited advantage. So, how are you saving for college? Or are you planning on cash flowing college? I know of no vehicle, besides taxable and 529, that can save up a significant portion of a chi...
by miamivice
Mon Aug 08, 2016 8:45 pm
Forum: Investing - Help with Personal Investments
Topic: How does a Boglehead save for child's education?
Replies: 138
Views: 9362

Re: How does a Boglehead save for child's education?

I don't max out my retirement, but that is choice because I don't see a need to. My retirement is being adequately funded without maxing out my space. I don't follow how that means that I shouldn't do a 529. If you don't max out your retirement accounts, Roth may be a better option than 529. It is ...
by miamivice
Mon Aug 08, 2016 5:50 pm
Forum: Investing - Help with Personal Investments
Topic: Think Oregon 529 is *clearly* better than Roth - what am I missing?
Replies: 13
Views: 1220

Re: Think Oregon 529 is *clearly* better than Roth - what am I missing?

Yes, a 529 plan is clearly better than a Roth if you want to pay for a significant percentage of your child's college education. You cannot withdraw Roth IRA earnings for college tax/penalty free - you can only withdraw contributions tax/penalty free. Since contributions earn 0% ROI (by definition),...
by miamivice
Mon Aug 08, 2016 5:29 pm
Forum: Investing - Help with Personal Investments
Topic: How does a Boglehead save for child's education?
Replies: 138
Views: 9362

Re: How does a Boglehead save for child's education?

While I agree that one should secure one's retirement before paying for their children's college, I'm not in agreement that someone who does not max out their retirement every year will not have enough to retire. The vast majority of the US population does not max out their retirement accounts and ...
by miamivice
Mon Aug 08, 2016 7:03 am
Forum: Investing - Help with Personal Investments
Topic: How does a Boglehead save for child's education?
Replies: 138
Views: 9362

Re: How does a Boglehead save for child's education?

529 plan - is intended for higher education, but can be used for future generational education funding. Earnings if used for higher education are tax free. UTMA - retains flexibility if child does not need to spend all assets to pay for schooling, assets can then be expended on other things. Up to ...
by miamivice
Mon Aug 08, 2016 6:57 am
Forum: Investing - Help with Personal Investments
Topic: How does a Boglehead save for child's education?
Replies: 138
Views: 9362

Re: How does a Boglehead save for child's education?

randomguy wrote:
A) don't go down that hole. Nothing productive is going to come from it. KlangFool doesn't realize his experience don't generalize and few of us can fully understand his.


+1
by miamivice
Mon Aug 08, 2016 6:54 am
Forum: Investing - Help with Personal Investments
Topic: How does a Boglehead save for child's education?
Replies: 138
Views: 9362

Re: How does a Boglehead save for child's education?

I think it is a financial mistake if parents cannot max out their retirements and yet decide to save to 529. Their children eligibility for financial aid is reduced, they don't have enough retirements, and the children may need to take loan. Like in the airplane, make sure you are safe first, then ...
by miamivice
Tue Aug 02, 2016 3:07 am
Forum: Personal Consumer Issues
Topic: Suckered into Marriott Kauai Timeshare Presentation
Replies: 98
Views: 9820

Re: Suckered into Marriott Kauai Timeshare Presentation

Hi all, My wife and I have been to Kauai before. Was offered what I think is a reasonable price for a 5 night/6 day stay in Kauai at the Marriot Vacation Club for $799. Long story short, this comes with the caveat that I have to attend a 90-minute presentations, which will be the sales pitch. Since...
by miamivice
Tue Aug 02, 2016 2:56 am
Forum: Personal Finance (Not Investing)
Topic: Gifting equally when children are in very different tax brackets?
Replies: 19
Views: 2524

Re: Gifting equally when children are in very different tax brackets?

Should gifting equally infer gross amount or net amount after taxes? Background: One son has been laid off and is in 15% bracket this year :shock: , the other is in 33% bracket :mrgreen: ? Thanks in advance for your assistance. As another poster said, a gift isn't taxable income, so each child will...
by miamivice
Tue Jul 26, 2016 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: How many folks choose to give inheritance to their children in unequal portions?
Replies: 193
Views: 16304

Re: How many folks choose to give inheritance to their children in unequal portions?

I could see giving (and receiving) unequal portions if one child chose a noble but lesser paying job such as being a teacher, social worker, etc but was still good with money and the other child chose a higher paying career such as engineer, doctor, or lawyer. My brother and I are in this situation...
by miamivice
Tue Jul 26, 2016 8:51 am
Forum: Personal Finance (Not Investing)
Topic: Liability insurance needed if renting apartment?
Replies: 14
Views: 734

Re: Liability insurance needed if renting apartment?

From a practical standpoint, people generally only sue when they think there is money to be gained. It's not worth attorney's time or fees to sue otherwise (in general). Most people have a perception that those living in apartments do not have a lot of assets, which is probably the case. I think the...
by miamivice
Mon Jul 25, 2016 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Liability insurance needed if renting apartment?
Replies: 14
Views: 734

Re: Liability insurance needed if renting apartment?

I'll admit I was assuming the liability coverage built into renters insurance, not a freestanding liability policy. The OP's description of what he has in mind is a trifle ambiguous. By the way, I don't see how the landlord has responsibility for water spots on the tenant's kitchen floor or how wax...
by miamivice
Mon Jul 25, 2016 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Liability insurance needed if renting apartment?
Replies: 14
Views: 734

Re: Liability insurance needed if renting apartment?

What if a kitchen fire in your apartment causes damage to additional apartments ... how will that be covered? Damage to the building would be covered by the insurance policy held by the building owner. Damage to the contents would be handled by the policies that other residents hold. Generally apar...
by miamivice
Mon Jul 25, 2016 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: Liability insurance needed if renting apartment?
Replies: 14
Views: 734

Re: Liability insurance needed if renting apartment?

As a renter, I did not carry insurance (liability or theft) or an umbrella policy. I would not advocate that my kids carry one. This crowd will probably advocate a liability policy, but this same crowd advocated that a 93 year old lady in a nursing home carry one which I disagreed with. You can spea...
by miamivice
Sun Jul 24, 2016 7:23 am
Forum: Personal Consumer Issues
Topic: What evidence would I need for a home contents insurance claim?
Replies: 6
Views: 726

Re: What evidence would I need for a home contents insurance claim?

Receipts are great. There are many apps that allow you to from room to room and document the contents. Some insurance co. Have their own forms or apps. I can tell you that no insurance company should expect me to have a complete inventory of receipts for all purchases in my house securely stored of...
by miamivice
Sun Jul 24, 2016 7:21 am
Forum: Personal Consumer Issues
Topic: What evidence would I need for a home contents insurance claim?
Replies: 6
Views: 726

Re: What evidence would I need for a home contents insurance claim?

I have not been through the process. However, what I've heard is that videotaping your house as you walk through is a great benefit. I don't believe that it is required by insurance (I've never been told to do that by my insurance company) but rather is a tool that helps you remember what you had in...
by miamivice
Sat Jul 23, 2016 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: How many folks choose to give inheritance to their children in unequal portions?
Replies: 193
Views: 16304

Re: How many folks choose to give inheritance to their children in unequal portions?

I say equally. My father didn't do things equally and it has caused some issues in the family. This wasn't a surprise at all, but still caused some problems. My mother plans to do things equally. There are some questions which were brought up in other threads on how to do it since some of the sibli...
by miamivice
Fri Jul 22, 2016 6:54 am
Forum: Personal Finance (Not Investing)
Topic: How many folks choose to give inheritance to their children in unequal portions?
Replies: 193
Views: 16304

Re: How many folks choose to give inheritance to their children in unequal portions?

Fair doesn't always mean equal. Dandy, I'm curious about this. What kind of situations (besides disability) would it be more fair to leave an unequal amount to each child? One worked hard in the arts which doesn't pay well and married late. I will probably help them more while we are alive to try t...
by miamivice
Thu Jul 21, 2016 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: How many folks choose to give inheritance to their children in unequal portions?
Replies: 193
Views: 16304

How many folks choose to give inheritance to their children in unequal portions?

A friend of mine, who is nearing the end of his life, asked me for some information about inheritance. He has three children, and he is contemplating splitting his inheritance in unequal portions. He is wondering how common it is. Situation - he has three children, all who are healthy and gainfully ...
by miamivice
Thu Jul 21, 2016 2:49 am
Forum: Personal Finance (Not Investing)
Topic: Are graduate certificates beneficial for work or employment?
Replies: 6
Views: 854

Are graduate certificates beneficial for work or employment?

I'm curious. Many universities offer graduate certificates (usually achieved by taking a series of 3 or 4 courses). I have a couple of them on my resume but am not sure they do much good. For those of you who review resumes, do you find that a candidate with a certificate in addition to a degree sta...
by miamivice
Mon Jul 18, 2016 5:56 am
Forum: Personal Finance (Not Investing)
Topic: Scary thought. Running out of time to save for retirement
Replies: 60
Views: 6390

Re: Scary thought. Running out of time to save for retirement

Can you provide your assumptions? The general thought is correct. I have seen similar examples. Starting early is very powerful. That said, starting somewhat later, say early thirties has worked fine for many but may close off the early retirement option. Starting early forties is likely going to b...
by miamivice
Mon Jul 18, 2016 12:55 am
Forum: Personal Finance (Not Investing)
Topic: Scary thought. Running out of time to save for retirement
Replies: 60
Views: 6390

Scary thought. Running out of time to save for retirement

I just did a thought experiment with some numbers, and came up with a scary thought. Due to TVM, the sum of money that I reasonably can save for retirement between today (age 37) and retirement will be less than what I saved from age 23 to today. If I save at a reasonably aggressive level, about 1/3...
by miamivice
Sun Jul 17, 2016 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: Appropriate tip amount for river rafting guides?
Replies: 50
Views: 3102

Re: Appropriate tip amount for river rafting guides?

Rodc wrote:
Your comment is true in the food industry too so I don't really get the argument. Seems inconsistent.


It's as inconsistent as not tipping bank tellers. :sharebeer
by miamivice
Sun Jul 17, 2016 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Appropriate tip amount for river rafting guides?
Replies: 50
Views: 3102

Re: Appropriate tip amount for river rafting guides?

Unless they are financially independent, say doing this in some sort of semi-retirement, they need to make a living. In tourist country, there are plenty of people who live in a semi-retirement mode most of their adult lives. Their choice, not mine. If there weren't enough people willing to accept ...
by miamivice
Sun Jul 17, 2016 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Appropriate tip amount for river rafting guides?
Replies: 50
Views: 3102

Re: Appropriate tip amount for river rafting guides?

I like to go on bicycle trips. It costs me money to go on my (solo) trips. If someone offered to pay me to take them along on a trip, if I was willing to do all the logistics, then it would be a win for me, assuming this person was someone I was willing to travel with (again, I only ever tour solo)...
by miamivice
Sun Jul 17, 2016 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Appropriate tip amount for river rafting guides?
Replies: 50
Views: 3102

Re: Appropriate tip amount for river rafting guides?

I like to go on bicycle trips. It costs me money to go on my (solo) trips. If someone offered to pay me to take them along on a trip, if I was willing to do all the logistics, then it would be a win for me, assuming this person was someone I was willing to travel with (again, I only ever tour solo)...
by miamivice
Sun Jul 17, 2016 3:33 pm
Forum: Personal Consumer Issues
Topic: Who do you not tip, and why?
Replies: 57
Views: 4684

Re: Who do you not tip, and why?

My favorite - bank tellers. We don't tip them even though we use their services, sometimes weekly. And they get paid less than restaurant waitresses. Servers in many states get paid $2.13 an hour. Most of their pay is in tips. I'm pretty sure bank tellers make more than $2.13. If people don't like ...
by miamivice
Sun Jul 17, 2016 12:22 am
Forum: Personal Consumer Issues
Topic: Who do you not tip, and why?
Replies: 57
Views: 4684

Who do you not tip, and why?

I will say that I find the whole tipping concept to be confusing. We tip the taxi driver but not the bus driver. We tip the river guide but not the airline pilot. We tip the bartender who fills a glass with beer but not the fast food worker who fills a cup with soda. We (might) tip the housecleaner ...
by miamivice
Sat Jul 16, 2016 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Appropriate tip amount for river rafting guides?
Replies: 50
Views: 3102

Re: Appropriate tip amount for river rafting guides?

I have a lot of personal experience in this area. I can't post publically why for privacy reasons but feel free to PM me and I can tell you more.
by miamivice
Sat Jul 16, 2016 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Appropriate tip amount for river rafting guides?
Replies: 50
Views: 3102

Re: Appropriate tip amount for river rafting guides?

$60 tip - 6 people on a $360 rafting trip. Our guide told me he lived in a tent. I once worked with a guy who made well into the 6 figures that lived out of his car. He was thrifty and felt he could save money by not renting a place to live. It definitely wasn't lack of income that caused him to ch...
by miamivice
Fri Jul 15, 2016 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: Appropriate tip amount for river rafting guides?
Replies: 50
Views: 3102

Re: Appropriate tip amount for river rafting guides?

I'm pretty sure I fall into the "no tip needed" camp. I wouldn't tip a river rafting guide unless they did something beyond what was agreed upon.
by miamivice
Fri Jul 15, 2016 4:31 am
Forum: Personal Finance (Not Investing)
Topic: When to file for bankruptcy, if at all?
Replies: 22
Views: 1504

Re: When to file for bankruptcy, if at all?

Wait a minute.... The assets he has way exceed the debt, if you exclude family/friends. I highly doubt that the family/friends will force him into bankruptcy, so I don't see why he needs to file for bankruptcy if he can pay off the non-family/non-friends. Now if the family/friends are taking him to ...
by miamivice
Wed Jul 13, 2016 6:57 pm
Forum: Personal Finance (Not Investing)
Topic: Boss cutting salary in response to employee not doing "job"
Replies: 78
Views: 8724

Re: Boss cutting salary in response to employee not doing "job"

I don't see where she has grounds to complain, sue, or argue. The boss pays her to do a job, and he / she gets to define what that job is. She has chosen to include some non-work related tasks, but if she is willing to pay for the assistant to do them, I don't see why the assistant can complain. If ...
by miamivice
Wed Jul 13, 2016 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Saving for college vs maxing out retirement accts
Replies: 24
Views: 1820

Re: Saving for college vs maxing out retirement accts

I must say that I admire this group for being dedicated retirement savers. Folks thinking that they should sock away $53,000 a year for retirement? Impressive. Excessive in my book, but to each their own. We'll try to see what we can do to increase our retirement savings. Right now I am maxing out p...
by miamivice
Wed Jul 13, 2016 3:11 am
Forum: Personal Consumer Issues
Topic: Do you tip Uber drivers?
Replies: 49
Views: 5323

Do you tip Uber drivers?

I recently started using Uber. Are you supposed to tip Uber drivers?

It's not a function of the app and I don't normally carry cash.
by miamivice
Wed Jul 13, 2016 2:53 am
Forum: Personal Consumer Issues
Topic: What should I tip the limo driver?
Replies: 25
Views: 2079

Re: What should I tip the limo driver?

I think a $200 tip for an 8 hour service is a ridiculous amount. That is over $25 per hour on top of what his wages are, which in California are not inexpensive. Limo drivers don't need $35+ an hour to drive a party around. I'm admittedly not a big tipper. Primarily probably because I don't work in ...
by miamivice
Tue Jul 12, 2016 10:34 pm
Forum: Personal Finance (Not Investing)
Topic: Saving for college vs maxing out retirement accts
Replies: 24
Views: 1820

Saving for college vs maxing out retirement accts

I am curious. I have a lot of tax advantage retirement space. $36,000 for my wife and I, pretax 401k. Plus another $10,000 in a rollover iRA if we follow through with a conversion to Roth IRA each year, so at least $46,000. I can go beyond that if I put post-tax money into my 401k. We both have gene...
by miamivice
Tue Jul 12, 2016 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: How are we doing?
Replies: 21
Views: 2064

Re: How are we doing?

The amount I'm putting in right now gets me the maximum match. To be honest I'm not sure how to really predict our expected retirement expenses or social security 20 years from retirement. Just so you know you're not along, I also have no idea who to predict either social security or expected retir...
by miamivice
Tue Jul 12, 2016 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: How are we doing?
Replies: 21
Views: 2064

Re: How are we doing?

You didn't mention if IVF was successful or not? If it was successful, it's money well spent. If not, I'm sorry to hear about your sturggles. I think you're way overinsured. $1.25 million for you plus $0.5 million for her seems like an absolute ton of insurance. While term life insurance is cheap at...
by miamivice
Mon Jul 11, 2016 12:10 am
Forum: Personal Finance (Not Investing)
Topic: Safe Stolen
Replies: 56
Views: 6942

Re: Safe Stolen

For those of you who are keeping 4 copies of important documents on 4 thumbs drives in 3 formats and one that is off site, I would suggest you are making things far too complicated. You get all the benefit of backups, and darn well equal security, by e-mailing yourself the documents with a web base...
by miamivice
Sun Jul 10, 2016 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Safe Stolen
Replies: 56
Views: 6942

Re: Safe Stolen

For those of you who are keeping 4 copies of important documents on 4 thumbs drives in 3 formats and one that is off site, I would suggest you are making things far too complicated. You get all the benefit of backups, and darn well equal security, by e-mailing yourself the documents with a web base...
by miamivice
Sun Jul 10, 2016 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Where were you financially when you were at 30?
Replies: 226
Views: 23939

Re: Where were you financially when you were at 30?

My net worth was $341,000 at age 30 (2009 dollars). In today's dollars, that'd be $381,000.
by miamivice
Sat Jul 09, 2016 10:20 pm
Forum: Personal Finance (Not Investing)
Topic: Safe Stolen
Replies: 56
Views: 6942

Re: Safe Stolen

For those of you who are keeping 4 copies of important documents on 4 thumbs drives in 3 formats and one that is off site, I would suggest you are making things far too complicated. You get all the benefit of backups, and darn well equal security, by e-mailing yourself the documents with a web based...
by miamivice
Fri Jul 08, 2016 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: What does "maxing out retirement savings" mean?
Replies: 19
Views: 2092

What does "maxing out retirement savings" mean?

On here, I've heard the phrase "maxing our retirement savings" each year thrown out. I'm not sure what that means. Does it: a) Mean putting in enough to receive full company match? If two spouses are working, then does it mean both spouses put in enough to receive full company match? b) Pu...
by miamivice
Thu Jul 07, 2016 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Am I taking too much risk with my non-retirement?
Replies: 12
Views: 1369

Re: Am I taking too much risk with my non-retirement?

I am wondering if I am carrying too much risk. It is 100% invested in the stock market. I am willing to take reasonable risk (i.e., I continue to invest whether the market is up or down), have a significant emergency fund built up. Retirement and college are well funded. Age is 37. Appreciate your ...
by miamivice
Thu Jul 07, 2016 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: Am I taking too much risk with my non-retirement?
Replies: 12
Views: 1369

Re: Am I taking too much risk with my non-retirement?

Do you have back up money in case this fund is not enough? No. It's actually not enough to build my dream house, I'm still short by 10% - 20%. If not enough when you need it could you simply take out a small mortgage to cover the difference or use income to cover what payment the fund does not cove...
by miamivice
Thu Jul 07, 2016 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Safe Stolen
Replies: 56
Views: 6942

Re: Safe Stolen

If you are going to have a safe at home, it has to be bolted down. Even then, if it isn't a good quality safe, they aren't that hard to get into. Actually, if you read his original post, he did not have the safe for security purposes. He had it for fire protection purposes. No need to bolt down som...

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