Search found 625 matches

by miamivice
Fri Dec 15, 2017 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Home owner liablity questions - parcel delivery
Replies: 19
Views: 1561

Re: Home owner liablity questions - parcel delivery

I think a lot of people are confusing a businesses requirement to provide a safe retail environment for customers versus a homeowners requirement to keep their home and property safe for guests. There is very little court precedent that requires a homeowner to keep property maintained and safe for g...
by miamivice
Fri Dec 15, 2017 3:02 pm
Forum: Personal Consumer Issues
Topic: Uber vs Ambulance - HUGE cost difference
Replies: 58
Views: 5998

Re: Uber vs Ambulance - HUGE cost difference

Likewise, if I have a broken arm and can't drive, I'd call Uber, not an ambulance. If I was an Uber driver I'd refuse any rider who was injured and wanted me to drive them to the hospital. I wouldn't want the liability of making their injury worse, or the responsibility to try to monitor them to en...
by miamivice
Fri Dec 15, 2017 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford to live on one income?
Replies: 70
Views: 5497

Re: Can we afford to live on one income?

Yes you can do it. It looks like there are some areas to reduce expenses if you are willing to do so. How much would you be paying for child care? I don't see that mentioned anywhere in the post and that's a major part of the financial decision. What are your prospects for pay raises over the next ...
by miamivice
Fri Dec 15, 2017 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Should I open a fitness center for extra money?
Replies: 37
Views: 2607

Should I open a fitness center for extra money?

One of my former high school classmates, who seems pretty darn smart to me, just opened a fitness center in the town this person lives in. They are pretty stoked about the idea. It cost about $5000 to obtain the franchise license, and maybe $20k to $50k in startup costs (initial lease, equipment for...
by miamivice
Fri Dec 15, 2017 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Home owner liablity questions - parcel delivery
Replies: 19
Views: 1561

Re: Home owner liablity questions - parcel delivery

My understanding is this type of claim would fall under tort liability. I believe there are 3 criteria that must be met: 1) There must be a duty to care 2) There must have been a breach in the duty to care 3) The breach in duty must have caused an injury. In the case of a delivery person dropping of...
by miamivice
Wed Dec 13, 2017 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: How much did you contribute to your 401k in 2017?
Replies: 117
Views: 6521

How much did you contribute to your 401k in 2017?

Two questions:

1) How much did you contribute to your 401k in 2017?

2) What is your current age?

I'll start.

Age 38. 2017 employee contributions are $14,000. Wife contributed maybe $12,000.
by miamivice
Wed Dec 13, 2017 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Teaching elementary school kids about money
Replies: 32
Views: 1845

Teaching elementary school kids about money

I'm wondering how other Boglehead parents have taught their kids about money? Not the mechanics of it (quarters, dimes, dollars, etc) but about the importance of saving and setting aside for the future. What did you do with your kids that you felt was effective? Our oldest is in early elementary sch...
by miamivice
Thu Dec 07, 2017 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: What do Bogleheads say when they don't want to spend money?
Replies: 103
Views: 5478

What do Bogleheads say when they don't want to spend money?

Question for you... When most people don't want to spend money on something, they often say they can't afford it. This is probably an accurate statement for most people to make. However, Bogleheads are not average, and it's definitely not accurate for many of us. We certainly can afford a lot of thi...
by miamivice
Thu Dec 07, 2017 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: At what age your investments start making more money than you?
Replies: 107
Views: 7333

Re: At what age your investments start making more money than you?

Many years ago, I set a personal goal for myself to earn more in dividends per year than a certain high school friend earns in a year at his/her workplace.

My wife is unimpressed with my goal.
by miamivice
Thu Dec 07, 2017 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: At what age your investments start making more money than you?
Replies: 107
Views: 7333

Re: At what age your investments start making more money than you?

I'm at 72% right now, and I'm 38. (That is using my estimate of 8% annual returns rather than the actual returns).

It'll be a while before I see 100% unless our pay goes down for some reason.
by miamivice
Thu Dec 07, 2017 1:38 pm
Forum: Investing - Help with Personal Investments
Topic: First post from this retiree with questions - my daughter sent me here!
Replies: 34
Views: 3849

Re: First post from this retiree with questions - my daughter sent me here!

miamivice, a 30k withdrawl is 6.3%. No, not a safe withdrawal rate. You used 25 years in your calculation and the SWR uses 30, but it's still a problem because the 4% growth you used isn't going to be even. In times when the market is down, a 6.3% withdrawal rate increases and could spin into a non...
by miamivice
Thu Dec 07, 2017 10:06 am
Forum: Investing - Help with Personal Investments
Topic: First post from this retiree with questions - my daughter sent me here!
Replies: 34
Views: 3849

Re: First post from this retiree with questions - my daughter sent me here!

I calculate you can probably spend withdraw $2,500 per month for the rest of your life from your retirement accounts. Would $2,000 plus the monthly income you receive provide a nice retirement for you? If so, you are in good shape. How did you calculate $30k per year from retirement accounts of $46...
by miamivice
Wed Dec 06, 2017 11:52 pm
Forum: Personal Finance (Not Investing)
Topic: How do you know you are FI? [Financially Independent]
Replies: 48
Views: 3831

Re: How do you know you are FI? [Financially Independent]

I am just 40. What I am trying to figure out right now is.. am I FI and if not when will I be FI? I am looking for a list of things that you need to check mark to declare (to yourself) you FI status. There is a website called FireCalc.org. You type in your current net worth, and your annual spendin...
by miamivice
Wed Dec 06, 2017 4:15 pm
Forum: Investing - Theory, News & General
Topic: Unsolicited advice - 32 yo w/ 80% bonds, fixed income fund
Replies: 36
Views: 3123

Re: Unsolicited advice - 32 yo w/ 80% bonds, fixed income fund

I would not recommend giving unsolicited advice to buddies. For one, nobody knows what the future holds. What you suggest may actually turn out to be the wrong advice. i.e, bonds might outperform stocks in the next five years, and then your buddy is mad at you for making a bad suggestion. For two, ...
by miamivice
Wed Dec 06, 2017 2:47 pm
Forum: Personal Consumer Issues
Topic: Do people still use AAA?
Replies: 181
Views: 10852

Re: Do people still use AAA?

Obviously a lot of AAA lovers here. As far as towing, most Bogleheads say to purchase insurance for risks that you cannot assume yourself. A tow costs maybe $150 or $200. AAA costs maybe $50 or $100 a year. So if you don't need your car towed more often than once every couple years, it's better to s...
by miamivice
Wed Dec 06, 2017 2:41 pm
Forum: Investing - Theory, News & General
Topic: Unsolicited advice - 32 yo w/ 80% bonds, fixed income fund
Replies: 36
Views: 3123

Re: Unsolicited advice - 32 yo w/ 80% bonds, fixed income fund

I would not recommend giving unsolicited advice to buddies. For one, nobody knows what the future holds. What you suggest may actually turn out to be the wrong advice. i.e, bonds might outperform stocks in the next five years, and then your buddy is mad at you for making a bad suggestion. For two, ...
by miamivice
Wed Dec 06, 2017 2:36 pm
Forum: Investing - Help with Personal Investments
Topic: First post from this retiree with questions - my daughter sent me here!
Replies: 34
Views: 3849

Re: First post from this retiree with questions - my daughter sent me here!

I calculate you can probably spend withdraw $2,500 per month for the rest of your life from your retirement accounts. Would $2,000 plus the monthly income you receive provide a nice retirement for you? If so, you are in good shape. How did you calculate $30k per year from retirement accounts of $46...
by miamivice
Wed Dec 06, 2017 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage as percentage of take-home pay
Replies: 79
Views: 5759

Re: Mortgage as percentage of take-home pay

OP, 1) I do not buy any house that I cannot pay the mortgage off if I want to. Aka, my net worth is 2 or more times the price of the house. So, I do not judge the affordability of the house only based on the mortgage payment. Are you suggesting everybody rent until they have saved up enough to buy ...
by miamivice
Wed Dec 06, 2017 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Friend buys a lot of stuff because he want's to reduce his tax liability. Is this thinking flawed?
Replies: 47
Views: 4109

Re: Friend buys a lot of stuff because he want's to reduce his tax liability. Is this thinking flawed?

Yes, obviously your friend's thinking is flawed. Running a "business" with the main objective to avoid income tax is counterproductive. Would I rather make $10,000 and pay a percentage of that to the government, or just spend the 10K on things that I don't need? The answer is obvious. All that bein...
by miamivice
Wed Dec 06, 2017 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Friend buys a lot of stuff because he want's to reduce his tax liability. Is this thinking flawed?
Replies: 47
Views: 4109

Re: Friend buys a lot of stuff because he want's to reduce his tax liability. Is this thinking flawed?

Money spent on non-business expenses does not reduce one's tax liability. The money he spends on things that are considered business expenses reduce the income tax he has to pay, but only by his marginal tax rate. For example, a $100 business expenses reduces his taxes by $100 * .15 (if he is in the...
by miamivice
Tue Dec 05, 2017 2:44 pm
Forum: Investing - Help with Personal Investments
Topic: First post from this retiree with questions - my daughter sent me here!
Replies: 34
Views: 3849

Re: First post from this retiree with questions - my daughter sent me here!

I calculate you can probably spend withdraw $2,500 per month for the rest of your life from your retirement accounts.

Would $2,000 plus the monthly income you receive provide a nice retirement for you? If so, you are in good shape.
by miamivice
Tue Dec 05, 2017 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Question on inheriting real estate from parents
Replies: 24
Views: 2790

Re: Question on inheriting real estate from parents

I glanced through the above posts but didn't see it mentioned. The current estate tax only affects people with more than $5.25 million in assets. (With estate planning, a married couple can pass $10.5 million to the heirs tax free) Is the estate worth more than $5.25 million? If not there is no issue.
by miamivice
Tue Dec 05, 2017 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Lowering real estate agent costs when selling?
Replies: 34
Views: 2595

Re: Lowering real estate agent costs when selling?

Actionable: 1 If you are in a high demand area, right now R/E is doing well in many areas, inventory is low for good properties, you can try a FSBO first. 2 Then if it doesn't sell right away, move on to a Flat Fee MLS R/E listing service, 3 then finally a regular Brokerage. What the large brokerag...
by miamivice
Tue Dec 05, 2017 1:23 pm
Forum: Personal Consumer Issues
Topic: Holiday Tipping
Replies: 30
Views: 2288

Re: Holiday Tipping

Hello Bogleheads always nice to chat with you. My wife and I were discussing how to tip this holiday season. We have read some articles and wanted to know what the forum thought. We are planning on tipping the following folks and wanted to know how you determine what to tip; newspaper delivery pers...
by miamivice
Tue Dec 05, 2017 12:54 pm
Forum: Investing - Theory, News & General
Topic: Unsolicited advice - 32 yo w/ 80% bonds, fixed income fund
Replies: 36
Views: 3123

Re: Unsolicited advice - 32 yo w/ 80% bonds, fixed income fund

I would not recommend giving unsolicited advice to buddies. For one, nobody knows what the future holds. What you suggest may actually turn out to be the wrong advice. i.e, bonds might outperform stocks in the next five years, and then your buddy is mad at you for making a bad suggestion. For two, h...
by miamivice
Tue Dec 05, 2017 12:11 pm
Forum: Personal Consumer Issues
Topic: Disputing a charge against an auto repair shop, should I give them another chance to make it right?
Replies: 17
Views: 1706

Re: Disputing a charge against an auto repair shop, should I give them another chance to make it right?

I generally suggest avoiding disputing charges with your credit card when it comes to vehicles. While the charge might be reversed, the money is still owed. In most states, auto repair places are allowed to place mechanic's liens on your vehicle, which allows them to reposses your vehicle to pay of...
by miamivice
Tue Dec 05, 2017 12:05 pm
Forum: Personal Consumer Issues
Topic: Lowering My Grocery Bill
Replies: 110
Views: 7057

Re: Lowering My Grocery Bill

I suggest shopping for name brand products at Wal-Mart, online using their store pickup option. Then you drive to Wal-Mart and they load the groceries in your car. Grocery prices are the same as in-store and there is no pickup surcharge. Essentially, this allows you to get Wal-Mart pricing (which is...
by miamivice
Tue Dec 05, 2017 12:02 pm
Forum: Personal Consumer Issues
Topic: Disputing a charge against an auto repair shop, should I give them another chance to make it right?
Replies: 17
Views: 1706

Re: Disputing a charge against an auto repair shop, should I give them another chance to make it right?

I generally suggest avoiding disputing charges with your credit card when it comes to vehicles. While the charge might be reversed, the money is still owed. In most states, auto repair places are allowed to place mechanic's liens on your vehicle, which allows them to reposses your vehicle to pay off...
by miamivice
Tue Dec 05, 2017 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Investment question: Ordinary income tax today vs deferred capital gains tax
Replies: 2
Views: 257

Investment question: Ordinary income tax today vs deferred capital gains tax

Some people are convinced that owning property and renting it out (AirBnB, long term rental, vacation rental, etc) is a sweet deal, as you get a trifecta: property appreciation, rental income, and occasional free use. When I've done the math, one sticking point that I have run into is rental income ...
by miamivice
Tue Dec 05, 2017 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Lowering real estate agent costs when selling?
Replies: 34
Views: 2595

Re: Lowering real estate agent costs when selling?

OP .... irrespective of the cost, do you believe you need a real estate agent to effectively sell your home? Somebody needs to open the door and let them walk through the house. 1% listing agent fee is about $9000. That's fine. 3% buyers agent fee is $27,000, and I think that's too high. Can I just...
by miamivice
Tue Dec 05, 2017 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Best solution for digitizing documents?
Replies: 43
Views: 3454

Re: Best solution for digitizing documents?

I haven't bothered with preserving (digitally or otherwise) documents in nearly a decade. My wife many years ago pointed out that I wasted a lot of time filing everything, so I started shredding paper documents. Eventually I opted in to receiving electronic documents for everything and no longer rec...
by miamivice
Tue Dec 05, 2017 10:55 am
Forum: Investing - Theory, News & General
Topic: Vanguard customer service reps need some training
Replies: 66
Views: 6838

Re: Vanguard customer service reps need some training

Just venting here since I can't call and talk to representative until Monday. I did an exchange (in my Roth account) yesterday over the phone. I wanted to clear out one of my funds since it overlaps with our 401k holdings and put the money to three other Roth funds that I already had in that accoun...
by miamivice
Tue Dec 05, 2017 10:43 am
Forum: Personal Finance (Not Investing)
Topic: Lowering real estate agent costs when selling?
Replies: 34
Views: 2595

Lowering real estate agent costs when selling?

What options do I have to lower the real estate cost of selling our house? Looking at a calculator, the real estate agent cost to sell our house comes to $36,000 - if I use a discount brokerage house. A full price brokerage house might come to $54,000. The breakdown is about $27,000 to the buyer's a...
by miamivice
Mon Dec 04, 2017 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Sources for aggregate FAFSA data?
Replies: 1
Views: 283

Sources for aggregate FAFSA data?

Is there someplace where one can review aggregate financial data provided to the government through the FAFSA forms? Of course, personally identifying information will be redacted. It seems that this would be very interesting information to review, i.e., average income of parents in our zipcode, ave...
by miamivice
Sun Dec 03, 2017 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Status Money website - good or bad?
Replies: 5
Views: 1013

Status Money website - good or bad?

I saw a Facebook post about a new website called Status Money. The concept is intriguing - type in some personal information (like financial stuff), and the website will show you how you compare to others in your area. The idea of the website is that it crowd source personal financial data, and pres...
by miamivice
Thu Nov 30, 2017 1:05 pm
Forum: Investing - Theory, News & General
Topic: Is there any reason to invest in real estate?
Replies: 98
Views: 7377

Re: Is there any reason to invest in real estate?

All, 20% ROI is not sustainable or practical to obtain for any length of time. If 20% ROI was available to everybody through real estate investing, nobody would invest in the stock market which returns 8% ROI historically. Some of you may have been lucky. Some may have added to your initial investme...
by miamivice
Wed Nov 29, 2017 1:24 pm
Forum: Investing - Theory, News & General
Topic: Is there any reason to invest in real estate?
Replies: 98
Views: 7377

Re: Is there any reason to invest in real estate?

...Have you considered the value of your labor in calculating your returns? If not, then you aren't comparing apples and apples, because stocks and REITs don't require labor. To me that is a feature, not a bug. There is no way for me to put my own labor into stocks and REITs. What is the value of y...
by miamivice
Wed Nov 29, 2017 1:16 pm
Forum: Investing - Theory, News & General
Topic: Is there any reason to invest in real estate?
Replies: 98
Views: 7377

Re: Is there any reason to invest in real estate?

...Have you considered the value of your labor in calculating your returns? If not, then you aren't comparing apples and apples, because stocks and REITs don't require labor. To me that is a feature, not a bug. There is no way for me to put my own labor into stocks and REITs. What is the value of y...
by miamivice
Wed Nov 29, 2017 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Why should I donate to my alma mater?
Replies: 133
Views: 9382

Re: Why should I donate to my alma matter?

I graduated 20+ years ago and every year give a token $50-100. I do it mainly to add to their "participation numbers". I have no dreams/plans for my children to attend this school. I also do not keep in touch with any of my classmates, apart from a once every few years meetup... I was on a huge aid...
by miamivice
Wed Nov 29, 2017 11:10 am
Forum: Personal Finance (Not Investing)
Topic: When to tell the SO about my financial situation?
Replies: 109
Views: 5485

Re: When to tell the SO about my financial situation?

My GF is much younger than I am, before she met me she didn't know a damn thing about personal finance and her upbringing/family doesn't have/come from/make much money at all and she sees how some family members just piss away money and have nothing to show for it but problems throughout their enti...
by miamivice
Wed Nov 29, 2017 10:44 am
Forum: Investing - Theory, News & General
Topic: Is there any reason to invest in real estate?
Replies: 98
Views: 7377

Re: Is there any reason to invest in real estate?

... My observation in life is those who have the highest net worth are stock market investors while those with the least net worth are landlords.. My observation is exactly the opposite, except at the very top of the population, where Warrant Buffet and Bill Gates have higher net worth than Donald ...
by miamivice
Tue Nov 28, 2017 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance question: Inheriting something you aren't supposed to sell
Replies: 22
Views: 2770

Re: Inheritance question: Inheriting something you aren't supposed to sell

My dad and his 4 siblings inherited land in Florida. While there were no strings, it was still a real pain in the butt. In the end, the land was given to the HOA neighborhoods where they sat as it was too much bother and cost to do anything with them. Perhaps a sit down with the parents at this tim...
by miamivice
Tue Nov 28, 2017 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance question: Inheriting something you aren't supposed to sell
Replies: 22
Views: 2770

Inheritance question: Inheriting something you aren't supposed to sell

I have an inheritance question. Of my siblings, myself and one sibling are in financially good shape with our remaining siblings are experiencing various challenges. Similar story with my wife. She's (we) are financially much better off than her siblings. There's an outside chance that either our se...
by miamivice
Tue Nov 28, 2017 2:36 pm
Forum: Investing - Theory, News & General
Topic: Is there any reason to invest in real estate?
Replies: 98
Views: 7377

Re: Is there any reason to invest in real estate?

Purchasing actual real estate provides a number of perceived benefits: 1) If it is rentable property, it can provide an additional income stream. 2) It usually appreciates in value, at a steady and relatively consistent rate, so that particular asset can smooth out instability of stock market fluct...
by miamivice
Tue Nov 28, 2017 1:18 pm
Forum: Investing - Theory, News & General
Topic: Is there any reason to invest in real estate?
Replies: 98
Views: 7377

Re: Is there any reason to invest in real estate?

Purchasing actual real estate provides a number of perceived benefits: 1) If it is rentable property, it can provide an additional income stream. 2) It usually appreciates in value, at a steady and relatively consistent rate, so that particular asset can smooth out instability of stock market fluctu...
by miamivice
Fri Nov 24, 2017 11:50 pm
Forum: Personal Consumer Issues
Topic: Costco Appliance Sales
Replies: 4
Views: 776

Re: Costco Appliance Sales

I'm not sure the Citi warranty will cover appliances. Most credit cards deny extended warranty coverage on things that become part of real estate. Some appliances, like dishwashers, ovens and built in microwaves, are definitely part of real estate. Washers, dryers, and refrigerators are more gray. I...
by miamivice
Fri Nov 24, 2017 10:26 pm
Forum: Personal Consumer Issues
Topic: Tipping in living wage state. Redux.
Replies: 118
Views: 6959

Re: Tipping in living wage state. Redux.

I have spent a lot of time in restaurants in many parts of the country. At this point, I am not sure how much to tip, nor what the purposes of tipping is for. As you stated, servers are paid anywhere from $2/hr to $15/hr depending on your locale. Additionally, some restuarants charge a "2% service c...
by miamivice
Fri Nov 24, 2017 10:07 pm
Forum: Personal Consumer Issues
Topic: Etiquette question: Paying for meals out & out of town guests
Replies: 79
Views: 5572

Etiquette question: Paying for meals out & out of town guests

Bogleheads, I'm wondering if anyone here is skilled in handling the etiquette of going out to eat. Over this Thanksgiving holiday, we had some out of town guests, who stayed with us. We also hosted Thanksgiving dinner. Well, the out of town guests decided that my wife deserved a night off from cooki...
by miamivice
Thu Oct 26, 2017 5:05 pm
Forum: Personal Consumer Issues
Topic: Fix or replace my vehicle
Replies: 33
Views: 1611

Fix or replace my vehicle

OK Bogleheads, I think I need a different vehicle but I'm feeling a bit guilty about spending the money. Wanted to see what your thoughts were. Current car: 18 year old SUV. 215,000 miles. Primary commuting vehicle for me. Required servicing: New struts ($1100) New wheel bearing ($120) New tires ($6...
by miamivice
Thu Oct 12, 2017 6:45 am
Forum: Personal Finance (Not Investing)
Topic: Corporate wellness program earnings deducted from paycheck
Replies: 7
Views: 861

Re: Corporate wellness program earnings deducted from paycheck

Our wellness program either deposits money into our HSA or for people who don't have an HDHP plan they get the extra in their paycheck. It is truly extra money in our case. Mine was the same, this seems crazy. I would resume smoking until HR can explain it to you. I wouldn't recommend resuming smok...