Search found 104 matches

by mx711yam
Wed May 16, 2018 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Golden Handcuffs
Replies: 53
Views: 8464

Re: Golden Handcuffs

I left law enforcement with only 8 years left until a full pension to start my own company. Worth it in my opinion, but everyones financials are different.
by mx711yam
Fri May 11, 2018 9:41 am
Forum: Personal Consumer Issues
Topic: Home Fire/Burglar Safe
Replies: 21
Views: 1352

Re: Home Fire/Burglar Safe

Get a Ft. Knox or American Security. I don't even worry about my stuff anymore.
by mx711yam
Sun Apr 08, 2018 6:14 pm
Forum: Local Chapters and Bogleheads Community
Topic: Too much Bogleheads.org?
Replies: 79
Views: 11155

Re: Too much Bogleheads.org?

It gets worse. Just wait until your wife will no longer listen to you when all you want to talk about is money haha
by mx711yam
Wed Mar 28, 2018 3:29 pm
Forum: Local Chapters and Bogleheads Community
Topic: A lot of heavy hitters this morning
Replies: 244
Views: 18743

Re: A lot of heavy hitters this morning

I completely agree. I tell me wife all the time how we're poor ( really we're probably the 1% for our age) and she goes off on me. But when you see how much some of these other people on here have and make, it sure does make you feel poor! I have had to kind of limit the amount of time I have spent ...
by mx711yam
Wed Feb 21, 2018 3:11 pm
Forum: Personal Consumer Issues
Topic: Good Hotel in DC
Replies: 46
Views: 3383

Re: Good Hotel in DC

I stayed at the W. Excellent location but pretty pricey.
by mx711yam
Tue Feb 13, 2018 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Job is starting to suck the life out of me.
Replies: 80
Views: 9869

Re: Job is starting to suck the life out of me.

I went through the same thing when I was a cop. Fought it for 6 years until the quality of family life started to suffer, and then I got out.

I started my own company. That has its own set of problems, but not like what I dealt with as a cop.
by mx711yam
Tue Feb 13, 2018 10:38 am
Forum: Investing - Help with Personal Investments
Topic: Did you learn anything from the market correction?
Replies: 160
Views: 12054

Re: Did you learn anything from the market correction?

I'm 31 and 100% stocks. I learned that I have even better risk tolerance than I thought. I actually bought more when the market started going down. I didn't freak out at all and it doesn't seem to phase me or hurt my sleep at night. I'm glad I'm 100% in stocks. On a side note I do have a fully paid ...
by mx711yam
Tue Feb 06, 2018 12:13 am
Forum: Investing - Help with Personal Investments
Topic: Torn between Vanguard, Fidelity and Schwab
Replies: 169
Views: 16819

Re: Torn between Vanguard, Fidelity and Schwab

I'm shocked to read all the vanguard responses so far. BH is usually pro vanguard.
by mx711yam
Tue Jan 23, 2018 11:21 am
Forum: Personal Consumer Issues
Topic: Is a minivan the only commuter vehicle / backup with 3 children?
Replies: 40
Views: 2631

Re: Is a minivan the only commuter vehicle / backup with 3 children?

Three kids here, 4, 2, nb. Just bought a used 2015 expedition last week after we grew out if a grand Cherokee. I'm really liking it so far. With three massive car seats, we wither had to go large SUV or minivan. My wife was not having a minivan lol.
by mx711yam
Thu Jan 04, 2018 10:34 am
Forum: Investing - Help with Personal Investments
Topic: Co-owners with different compensation - i401k vs SEP IRA
Replies: 15
Views: 813

Re: Co-owners with different compensation - i401k vs SEP IRA

Yeah I'm positive. We had an attorney review it. Most of them just moonlight for me since they have full time jobs and then do part time work for me when they're available and I have openings for them.
by mx711yam
Wed Jan 03, 2018 11:59 am
Forum: Investing - Help with Personal Investments
Topic: Co-owners with different compensation - i401k vs SEP IRA
Replies: 15
Views: 813

Re: Co-owners with different compensation - i401k vs SEP IRA

They're all 10-99. I don't think any of them will be at 1000 hours.

What I'm hearing is the 401k has more hoops than SEP IRA?
by mx711yam
Wed Jan 03, 2018 9:03 am
Forum: Investing - Help with Personal Investments
Topic: Co-owners with different compensation - i401k vs SEP IRA
Replies: 15
Views: 813

Re: Co-owners with different compensation - i401k vs SEP IRA

Thanks for the replies and helping me out guys, I appreciate it. Ok so last year was the first full year. We are still working on W2's with the CPA but it will look kind of like this: Person 1: $40,000 Person 2: $60,000 Everyone that works for us are contractors at the moment because we aren't a hug...
by mx711yam
Tue Jan 02, 2018 6:43 pm
Forum: Investing - Help with Personal Investments
Topic: Co-owners with different compensation - i401k vs SEP IRA
Replies: 15
Views: 813

Re: Co-owners with different compensation - i401k vs SEP IRA

Correct each one of us is paid differently depending on the amount of cases we go out. That is where this whole thing gets messy if we are wanting to be even on payments apart from the actual on site work.
by mx711yam
Tue Jan 02, 2018 3:02 pm
Forum: Investing - Help with Personal Investments
Topic: Co-owners with different compensation - i401k vs SEP IRA
Replies: 15
Views: 813

Re: Co-owners with different compensation - i401k vs SEP IRA

The company makes the contribution to the plans but has to contribute an equal percentage of pay. So if it's 25% of 100k, that employee gets 25k in their account whereas the employee that makes 50k only get 12.5k put into their account. So the first employee would get an additional pay equivalent to...
by mx711yam
Tue Jan 02, 2018 1:42 pm
Forum: Investing - Help with Personal Investments
Topic: Co-owners with different compensation - i401k vs SEP IRA
Replies: 15
Views: 813

Co-owners with different compensation - i401k vs SEP IRA

Hey guys, need some input and searched the forums but didn't see a similar scenario. Hopefully I didn't miss it. My business partner and I started a company at the end of 2016. We are now making plenty of money and I want to either do a SEP IRA or an i401k. The odd thing about our W2 compensation is...
by mx711yam
Mon Nov 20, 2017 8:20 pm
Forum: Personal Consumer Issues
Topic: Drive it till it dies. It died.
Replies: 54
Views: 6698

Re: Drive it till it dies. It died.

The CVT in my 2014 Altima went out the other day. I only had 85000 miles. They tried to charge me $7,000 for it but I called Nissan and complained and they were able to do the whole thing for $1100. So definitely call and complain and also don't ever buy a Nissan again. I won't.
by mx711yam
Wed Oct 18, 2017 2:09 pm
Forum: Personal Consumer Issues
Topic: Anyone who started a business what made you comfortable enough to take the chance?
Replies: 25
Views: 2368

Re: Anyone who started a business what made you comfortable enough to take the chance?

I quit being a State Trooper last year, making over 100k a year, to start a PI and Security Firm. Both of my parents are entrepreneurs who own a successful company so I grew up wanting to do that at some point in my life. The jump from steady government income to uncertainty was hard, but so far it'...
by mx711yam
Sat Oct 14, 2017 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: New HSA provider Lively offers investments for $30/yr fee
Replies: 257
Views: 34379

Re: New HSA provider Lively offers investments for $30/yr fee

Left account open but staying with SelectAccount HSA for now, b/c the minimal difference in expenses isn't worth the hassle of two active accounts. I understand that. :beer I've been grumbling about the growing fees in my employer-sponsored HSA for two years. Twice, I had even downloaded all of the...
by mx711yam
Fri Oct 13, 2017 8:59 am
Forum: Investing - Help with Personal Investments
Topic: Payoff Rental or lower Primary Loan -> Mortgage Deduction Interest Question
Replies: 14
Views: 806

Re: Payoff Rental or lower Primary Loan -> Mortgage Deduction Interest Question

I was in a similar situation to you and paid off the rental house for the extra monthly cash flow. It allowed me to quit my job and start a business. Although it wasn't the best way to reduce taxes it was the best way to gain freedom.
by mx711yam
Wed Nov 30, 2016 9:36 pm
Forum: Investing - Help with Personal Investments
Topic: Pay off mortgage?
Replies: 107
Views: 9565

Re: Pay off mortgage?

I paid off the mortgage on my rental house, which enabled me to then quit my job the next week to start a company I have wanted to do for years. Having a paid off mortgage was more important for me psychologically than financially. It offered freedom.
by mx711yam
Wed Oct 26, 2016 8:22 pm
Forum: Investing - Help with Personal Investments
Topic: Governmental 457 for early retirement
Replies: 2
Views: 614

Re: Governmental 457 for early retirement

That's what I was doing before I resigned from the government.
by mx711yam
Tue Jul 26, 2016 9:54 am
Forum: Personal Consumer Issues
Topic: What is your plan if you lose job tomorrow ??
Replies: 73
Views: 8052

Re: What is your plan if you loose job tomorrow ??

As a matter of fact, I'm going to be quitting in 2 months to start my own security company. I despise my job, so I'm looking forward to having my own business and working whatever hours I want. I'm stressed that I won't have a steady paycheck, but life is too short to work somewhere you absolutely ...
by mx711yam
Tue Jul 26, 2016 9:18 am
Forum: Personal Consumer Issues
Topic: What is your plan if you lose job tomorrow ??
Replies: 73
Views: 8052

Re: What is your plan if you loose job tomorrow ??

As a matter of fact, I'm going to be quitting in 2 months to start my own security company. I despise my job, so I'm looking forward to having my own business and working whatever hours I want. I'm stressed that I won't have a steady paycheck, but life is too short to work somewhere you absolutely h...
by mx711yam
Sat Jul 23, 2016 9:00 am
Forum: Investing - Help with Personal Investments
Topic: Help with leaving employment - rollover pension or leave it?
Replies: 19
Views: 1532

Re: Help with leaving employment - rollover pension or leave it?

I appreciate all the guidance and insight so far from both sides. Thank you guys very much, looking forward to any additional comments.
by mx711yam
Sat Jul 23, 2016 6:02 am
Forum: Investing - Help with Personal Investments
Topic: Help with leaving employment - rollover pension or leave it?
Replies: 19
Views: 1532

Re: Help with leaving employment - rollover pension or leave it?

Thanks for the link. Unfortunately I can't read it, it says I have to subscribe to view the article.
by mx711yam
Sat Jul 23, 2016 4:52 am
Forum: Investing - Help with Personal Investments
Topic: Help with leaving employment - rollover pension or leave it?
Replies: 19
Views: 1532

Re: Help with leaving employment - rollover pension or leave it?

Yeah my original thought was to yank it out. Are there any calculators to use for a comparison between the 2 options?
by mx711yam
Fri Jul 22, 2016 11:24 am
Forum: Investing - Help with Personal Investments
Topic: Help with leaving employment - rollover pension or leave it?
Replies: 19
Views: 1532

Re: Help with leaving employment - rollover pension or leave it?

The pension will NOT be COLA and i can't even begin drawing for another 30 years. But it does have a survivor benefit if I lower the monthly payment to roughly 950.
by mx711yam
Fri Jul 22, 2016 11:09 am
Forum: Investing - Help with Personal Investments
Topic: Help with leaving employment - rollover pension or leave it?
Replies: 19
Views: 1532

Re: Help with leaving employment - rollover pension or leave it?

Thanks for the responses so far. A little more info Paid off rental house, value 165k Half equity in primary residence, value 300k Retirement accounts about 200k Emergency fund 35k Wife works part time but makes good money. Just shy of enough to support us without me getting a paycheck I'll be leavi...
by mx711yam
Fri Jul 22, 2016 9:26 am
Forum: Investing - Help with Personal Investments
Topic: Help with leaving employment - rollover pension or leave it?
Replies: 19
Views: 1532

Help with leaving employment - rollover pension or leave it?

I'll be leaving state law enforcement very soon. I'm 30 years old, my options are to leave the 36k in my pension plan in place and get an annuity of 1,000 a month when I turn 60, or to roll the 36k into an ira. I'm guessing that 1,000 a month when I'm 60 will be worth less than half of that. So shou...
by mx711yam
Sat Jul 09, 2016 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Employment ideas for former Police?
Replies: 37
Views: 3964

Re: Employment ideas for former Police?

You guys are awesome. I have gotten some great ideas.

I have bachelor's degrees in criminal justice and history. I'm not sure how much that changes anything, but just to give a little more info.
by mx711yam
Sat Jul 09, 2016 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Employment ideas for former Police?
Replies: 37
Views: 3964

Re: Employment ideas for former Police?

Well there are a couple reasons. My wife thinks it's getting too dangerous, the hours really suck, and I'm burned out. I'm hoping to get into something not very closely related. The background investigator is a good idea, hadn't thought of that but have done plenty of them. Thanks for all the sugges...
by mx711yam
Sat Jul 09, 2016 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Employment ideas for former Police?
Replies: 37
Views: 3964

Employment ideas for former Police?

I'm looking at quitting and going to the private sector. The problem is I'm having a real hard time finding a field where what I have done as a State Trooper for 8 years would assist me in getting hired. Any ideas? I'm stressing about it and it's time for me to move along from government employment....
by mx711yam
Wed Jun 29, 2016 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Where were you financially when you were at 30?
Replies: 226
Views: 31516

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

I always wonder the same thing. I just turned 30 in February.

me:
Married with 2 kids
No consumer debt
2 paid off cars
1 paid off rental house
167k left on primary mortgage
140k a year between my wife and me
180k in 401/457/roth ira
by mx711yam
Wed Jan 06, 2016 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Just made IRA contribution, then converted to Roth... for my wife
Replies: 27
Views: 2713

Re: Just made IRA contribution, then converted to Roth... for my wife

Haha this describes my wife completely. I try to do weekly financial updates with her, to which she mocks me, rolls her eyes, and says borrrriiinngg. She hasn't even paid a bill since the day we got married. She even acts like your wife after the talk. She will ask if the amount of money we have sav...
by mx711yam
Mon Dec 28, 2015 11:46 pm
Forum: Investing - Theory, News & General
Topic: Roth 401k over traditional 401k and taxable?
Replies: 3
Views: 471

Re: Roth 401k over traditional 401k and taxable?

That's exactly what I was looking for. Thank you!
by mx711yam
Mon Dec 28, 2015 10:16 pm
Forum: Investing - Theory, News & General
Topic: Roth 401k over traditional 401k and taxable?
Replies: 3
Views: 471

Roth 401k over traditional 401k and taxable?

I was just thinking tonight that I could put away more money in a Roth 401k than a traditional 401k. Everyone says invest in traditional because of your tax bracket and then invest in a taxable account after. What if you invested everything in a Roth instead of investing in both a traditional 401k a...
by mx711yam
Fri Oct 30, 2015 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Estate Attorney recommendations - Austin, TX
Replies: 8
Views: 931

Re: Estate Attorney recommendations - Austin, TX

No i most definitely won't trigger the estate tax upon death. I'm thinking due to having 2 small children under 2, we would need something set up to transfer the money to an account where a custodian could withdraw what was needed so they had some left when they were grown if my wife and I pass away.
by mx711yam
Fri Oct 30, 2015 6:41 am
Forum: Personal Finance (Not Investing)
Topic: Estate Attorney recommendations - Austin, TX
Replies: 8
Views: 931

Re: Estate Attorney recommendations - Austin, TX

Wow, good to know, thank you. I guess I'll save my money and make it work with the will we have in place. Thank you
by mx711yam
Tue Oct 27, 2015 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Attorney recommendations - Austin, TX
Replies: 8
Views: 931

Estate Attorney recommendations - Austin, TX

I'm looking for an estate attorney in Austin. I have been referred to one individual but I'm not sure how good she is. I have a will, but I'm assuming I need a trust as well?

Thanks for any help
by mx711yam
Tue Sep 01, 2015 1:02 pm
Forum: Personal Consumer Issues
Topic: New SUV, $50G, Pilot/Highlander/Other
Replies: 146
Views: 22815

Re: New SUV, $50G, Pilot/Highlander/Other

I just drove one of the new Tahoes for a week as a rental vehicle. It was incredible and we are going to have to upgrade from the 2011 Jeep Grand Cherokee to one. The size of the interior is just phenomenal. However you are going to spend more than 50,000 for one with leather. I'm planning on waitin...
by mx711yam
Thu Aug 27, 2015 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirement with a pension
Replies: 38
Views: 5459

Re: Early retirement with a pension

I'm a Trooper in Texas and I was in kind of the same situation a few months back. Mine was to continue with my job for the next 10 years so I can get a pension or leave and do something else now. I decided to stay because it's hard to pass up a pension with benefits. I think you need to ride it out,...
by mx711yam
Fri Aug 14, 2015 11:54 am
Forum: Investing - Theory, News & General
Topic: When do you notice the compounding at work?
Replies: 52
Views: 9604

When do you notice the compounding at work?

I have about 180k in our retirement accounts. I haven't seen much growth at all in these accounts over the last year or two apart from my contributions. At what point or dollar range do you start to actually see the magic of compounding work?

Assume I have a basic three fund portfolio.

Thanks
by mx711yam
Sun Mar 01, 2015 10:41 am
Forum: Investing - Help with Personal Investments
Topic: Should I buy service time for retirement?
Replies: 7
Views: 1970

Re: Should I buy service time for retirement?

Wow those were very good assumptions. Yes, I am a State Police Officer in Texas. I do not like my job and am ready to get out asap, which is why buying service credit seemed to make sense. In no way will I work a day over my 20 years in the system. So the way it works, is I can put in the 17 years p...
by mx711yam
Sat Feb 28, 2015 1:03 am
Forum: Investing - Help with Personal Investments
Topic: Should I buy service time for retirement?
Replies: 7
Views: 1970

Should I buy service time for retirement?

So in three years, I will have the option to buy 3 years of service credits. This would essentially allow me to retire ten years from now after putting in 17 years as a Police Officer and get credit for 20 years of service. Our pension system works with a 2.8% multiplier, so I would be getting 8.4% ...
by mx711yam
Sat May 03, 2014 3:43 pm
Forum: Investing - Help with Personal Investments
Topic: First Taxable account being opened - VWITX?
Replies: 8
Views: 1483

Re: First Taxable account being opened - VWITX?

Sorry guys I think I threw it off not including my full picture. I have an 8 month emergency fund in place as well as a high five figure Roth IRA and both of our Roth IRAs have been fully funded this year already. This is just extra money that my wife doesn't want to lock away in our 401. We want to...
by mx711yam
Sat May 03, 2014 9:13 am
Forum: Investing - Help with Personal Investments
Topic: First Taxable account being opened - VWITX?
Replies: 8
Views: 1483

First Taxable account being opened - VWITX?

I am about to open my first taxable account. We don't max all of our tax advantaged space yet due to a possible change in employment for my wife in the next three years. So the money we are saving for the taxable will be held for a minimum of three years, but hopefully we won't even have to tap it t...
by mx711yam
Thu Feb 20, 2014 11:07 pm
Forum: Personal Finance (Not Investing)
Topic: What's the Appropriate Net Worth by % for a 27 year old?
Replies: 78
Views: 16131

Re: What's the Appropriate Net Worth by % for a 27 year old?

Good god, what profession are you guys in...300k by age 30? WOW. Guessing finance... I'm actually a state police officer, so I don't make that much. Wife has a decent job, makes about as much as me. But I agree with tj I bought two homes that turned into rentals in 2009 and 2010 and a third home in...
by mx711yam
Thu Feb 20, 2014 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: What's the Appropriate Net Worth by % for a 27 year old?
Replies: 78
Views: 16131

Re: What's the Appropriate Net Worth by % for a 27 year old?

I turned 28 last week.

Net worth 280k.

100k retirement
20k cash
160k real estate

No windfall, student loans approximately 16k when I graduated. 2 income family.
by mx711yam
Thu Jan 30, 2014 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: Austin area CPA?
Replies: 2
Views: 378

Austin area CPA?

Sorry if this is the wrong forum to post this. Does anyone in the north Austin area know of a good CPA to do personal taxes? I have two rental properties so I can never complete them very well on my own. Thanks in advance