Search found 565 matches

by nimo956
Tue May 03, 2016 12:30 pm
Forum: Personal Consumer Issues
Topic: Second IRS Final Notice Filing Law Suit Phone Call
Replies: 19
Views: 1764

Re: Second IRS Final Notice Filing Law Suit Phone Call

My grandfather, who is 98, nearly fell for one of these scams. He asked for a number to call them back but soon forgot it, so they were unable to get any of his money.
by nimo956
Mon May 02, 2016 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Sue your employer over 401k
Replies: 21
Views: 2454

Re: Sue your employer over 401k

This is why many high fee 401k plans include a cheap-ish 500 Index fund. It's only there so they can say there's a low-cost option, so you can't sue.
by nimo956
Sat Apr 30, 2016 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Want a new vehicle, but can't "justify" spending?
Replies: 36
Views: 3482

Re: Want a new vehicle, but can't "justify" spending?

I have a 2003 Lexus IS300 with 175k miles. It runs perfectly with no issues. It has been paid off for years. I would like to purchase a new truck, as its a better lifestyle vehicle for the things I like to do (hiking, biking, beach, landscaping, light duty hauling, etc). I cannot, however, "ju...
by nimo956
Fri Apr 29, 2016 12:10 pm
Forum: Personal Consumer Issues
Topic: Suggestions for things to do / places to stay near Newport, RI
Replies: 8
Views: 446

Re: Suggestions for things to do / places to stay near Newport, RI

You're closer to the Berkshires than to Newport, RI, so you might want to look for hiking/outdoor activities in that area. Off the top of my head, there's Mt. Greylock, Tanglewood and Williamstown. Sturbridge should also be close by. Having said that, Newport, RI is a very nice visit if you are will...
by nimo956
Tue Apr 26, 2016 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Why have a formal budget?
Replies: 82
Views: 4880

Re: Why have a formal budget?

I find high level budgeting very useful for seeing where my money is going and setting my savings rate to make sure I'm on track to meet my retirement goals. As an example, I can see that expenses break down as the following % of my income: Taxes- 19% Rent/Util- 12% Insurance- 3% Groceries/Gas- 3% H...
by nimo956
Mon Apr 25, 2016 1:57 pm
Forum: Investing - Help with Personal Investments
Topic: Advice wanted - am I making the wrong choice by "doing nothing" with this money?
Replies: 14
Views: 1936

Re: Advice wanted - am I making the wrong choice by "doing nothing" with this money?

If this money is for retirement, start by maxing our your retirement accounts. 1. $5.5k x 2 = $11k in IRAs for you and your wife 2. $18k x 2 = $36k in 401ks for you and your wife Look into funding an HSA if it's an option for one or both of you. If your expenses are greater than your take-home pay a...
by nimo956
Mon Apr 25, 2016 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Should I start my own consulting business?
Replies: 10
Views: 1186

Re: Should I start my own consulting business?

Ya, so I confirmed that the info I have/work product I developed constitutes a trade secret and therefore cannot be used against my employer when starting my own company. I'll have to make due with what's publicly available. Also, you can't approach existing customers to gauge their interest while y...
by nimo956
Mon Apr 25, 2016 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Advice for post retirement career
Replies: 53
Views: 2696

Re: Advice for post retirement career

Why don't you start a tutoring/test prep business? It's certainly flexible in terms of how much you work and where you work (whether in your home, the students' or remotely).
by nimo956
Sun Apr 24, 2016 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Should I start my own consulting business?
Replies: 10
Views: 1186

Re: Should I start my own consulting business?

There are a few consultants in this field already and I heard from a colleague that they charge $15k to handle this process for a client. I'm not particularly well-compensated, and I'd only need 5-6 clients per year to replicate my salary (gross not net of expenses). I suspect that you are vastly u...
by nimo956
Sun Apr 24, 2016 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Should I start my own consulting business?
Replies: 10
Views: 1186

Re: Should I start my own consulting business?

Do you have relationships with the client companies? How will you get that first consulting contract? Do you know the process for getting them to hire you as a consultant? I don't have existing relationships in place, but I do have a list of potential clients and I know who would be best to target....
by nimo956
Sun Apr 24, 2016 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Should I start my own consulting business?
Replies: 10
Views: 1186

Re: Should I start my own consulting business?

First off, did you sign a non-compete clause in any contract. If no, would any of your current clients follow you to your own firm? If necessary do you have the finances to go 3, 6, 12 months possibly before you build up your clientele. Do you know or are you willing to learn: billing, payroll, and...
by nimo956
Sun Apr 24, 2016 7:34 am
Forum: Personal Finance (Not Investing)
Topic: Should I start my own consulting business?
Replies: 10
Views: 1186

Should I start my own consulting business?

I've been with my current company for over 7 years and have developed a niche role. Basically I read RFPs from our clients, build financial models, and help determine/negotiate offers in order to retain business. There are a few consultants in this field already and I heard from a colleague that the...
by nimo956
Wed Apr 20, 2016 3:42 pm
Forum: Investing - Help with Personal Investments
Topic: What do you wish you had known in your early 20's?
Replies: 46
Views: 4170

Re: What do you wish you had known in your early 20's?

Make a budget with your income. Before listing any expenses, set aside 30-50% of your gross salary for savings (401k, IRA, taxable). 50% of gross may be difficult if you're in a high tax bracket, but 30% should be doable. After that, figure out what's left to spend on everything else. If you can sta...
by nimo956
Wed Apr 20, 2016 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Cannot Pay Huge Tax Burden
Replies: 107
Views: 8431

Re: Cannot Pay Huge Tax Burden

Personally, I think that the OP should cut expenses to the bone and put as much as he can towards the loans as possible (like 50% of his salary). Have you sat down and made a budget with him? However, after reading countless stories like this, I've often wondered if you can become a citizen of anoth...
by nimo956
Tue Apr 05, 2016 10:53 am
Forum: Personal Finance (Not Investing)
Topic: Couple needs some good advice from Bogleheads
Replies: 30
Views: 2820

Re: Couple needs some good advice from Bogleheads

My question is whether it makes sense to wait for a correction, put everything in now or to dollar-cost average over a year or two. I assume this group will favor DCA. I would not favor DCA and here is why: You need to formulate a plan you are comfortable implementing and stick with it. This means ...
by nimo956
Tue Apr 05, 2016 8:14 am
Forum: Personal Consumer Issues
Topic: London hotel room with points-where should we stay?
Replies: 19
Views: 1419

Re: London hotel room with points-where should we stay?

I quite enjoyed the Bloomsbury Hotel, which is next to the British Museum. I found it pretty central and was able to walk to all of the attractions.
by nimo956
Mon Apr 04, 2016 11:18 am
Forum: Personal Consumer Issues
Topic: Five Best National Parks to Visit?
Replies: 99
Views: 6717

Re: Five Best National Parks to Visit?

If you read through the posts, most people say that you should visit the parks during the "off-season" as the crowds are a lot smaller. While that has always been our approach, there are certain drawbacks. I finally made it to Yosemite NP through Tioga Pass for the first time ... in five ...
by nimo956
Sat Apr 02, 2016 12:58 pm
Forum: Personal Consumer Issues
Topic: Five Best National Parks to Visit?
Replies: 99
Views: 6717

Re: Five Best National Parks to Visit?

Thanks for all the recommendations! I want to see everything eventually, but am leaning towards Yosemite for my first trip. That seems like it'd be the easiest to get to, since I can fly direct to San Francisco and just drive from there.
by nimo956
Fri Apr 01, 2016 9:21 am
Forum: Personal Consumer Issues
Topic: Five Best National Parks to Visit?
Replies: 99
Views: 6717

Five Best National Parks to Visit?

I live in the Northeast and have only ever been to Acadia National Park in Maine. I'm looking to start a tradition of visiting some of the beautiful national parks in the US/Canada out west. What would be the top 5 places to start? I'm looking for beautiful, lush scenery for photography coupled with...
by nimo956
Thu Mar 31, 2016 9:58 pm
Forum: Personal Consumer Issues
Topic: do you do airbnb ??
Replies: 64
Views: 4174

Re: do you do airbnb ??

I used it for my trip to southern Spain in Feb and am a total convert. My strategy was to stay in someone's actual house because it's likely nicer than a rental property and you get the benefit of local experience. Just read the reviews and look at the pictures. I think I paid $30 a night to stay in...
by nimo956
Fri Mar 11, 2016 3:39 pm
Forum: Investing - Help with Personal Investments
Topic: 5M Windfall, all in VTMFX? [Vanguard Tax-Managed Balanced Fund]
Replies: 40
Views: 5569

Re: 5M Windfall, all in VTMFX?

1. I live in maryland 2. Doesn't tax loss harvesting cap out at only 3k? I don't think I would bother myself moving around assets to try to capture an extra 3k per year given my total future net worth. Not really. Two things come to mind immediately: 1. What state do you live in? 2. You will probab...
by nimo956
Wed Feb 24, 2016 2:21 pm
Forum: Personal Consumer Issues
Topic: Don't understand nutrition and exercise
Replies: 340
Views: 25062

Re: Don't understand nutrition and exercise

I just want to thank everyone for the useful replies and let people know that I am following the thread/discussion. I've been out of the country, so haven't had time to respond, but I am making my way through all of the posts.
by nimo956
Sun Feb 21, 2016 4:48 am
Forum: Personal Consumer Issues
Topic: Don't understand nutrition and exercise
Replies: 340
Views: 25062

Don't understand nutrition and exercise

Every time I try to learn about proper nutrition and exercise, I get overwhelmed by the amount of conflicting information online. I always get the sense that people are either trying to sell you something, or are trying to promote their particular diet/workout philosophy. I just want something that'...
by nimo956
Wed Feb 10, 2016 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Company Paid Relocation Expenses, Can't get full understanding of taxes/benefit value
Replies: 12
Views: 578

Re: Company Paid Relocation Expenses, Can't get full understanding of taxes/benefit value

I can't find the thread at the moment, but search for posts about relocation packages on the forum. I recall that they often aren't as good of a deal as they appear. Something about how the realtor's incentive is to sell your house quickly, not get the highest price for you.
by nimo956
Tue Feb 09, 2016 6:24 am
Forum: Personal Finance (Not Investing)
Topic: Tips on how to get the most of my yearly performance review?
Replies: 28
Views: 3089

Re: Tips on how to get the most of my yearly performance review?

These are mostly just a meaningless HR exercise. Don't put a lot of effort into it, and don't expect anything to come of it. If you're angling for a bigger salary increase, then you'd actually need to go out and get a competing offer to force their hand. Otherwise you have no power in the negotiation.
by nimo956
Mon Feb 08, 2016 12:16 am
Forum: Investing - Help with Personal Investments
Topic: Help A 24-Year-Old Start Planning for Retirement
Replies: 29
Views: 1895

Re: Help A 24-Year-Old Start Planning for Retirement

Contribute $5.5k to a Roth IRA and $18k to a traditional 401k each year. Use your $40k savings to cover living expenses if needed. This converts your taxable account into tax deferred. Also, cars are very expensive and you won't build any wealth if you keep buying/trading in/financing every 3 years....
by nimo956
Wed Feb 03, 2016 12:35 pm
Forum: Investing - Help with Personal Investments
Topic: Clueless college new grad 22 yo, 200k income looking to start saving
Replies: 143
Views: 12341

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

Your itemized expenses total $16,000 a month. You are already spending more than you earn. You need to get realistic about what you can afford on your income. It is a nice income right out of the gate but it can't buy everything. Gill I read the $10k in gifts/trips as an annual expense, so maybe $7...
by nimo956
Wed Feb 03, 2016 11:45 am
Forum: Investing - Help with Personal Investments
Topic: Clueless college new grad 22 yo, 200k income looking to start saving
Replies: 143
Views: 12341

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

I clicked on this thread feeling excited for you and slightly envious, but now I just feel sorry because I get the sense from your post that you are already becoming trapped in a high cost lifestyle before you even start working. If you continue down this path, you'll be working forever. With that i...
by nimo956
Thu Jan 07, 2016 4:19 pm
Forum: Personal Consumer Issues
Topic: Jackpot Now Estimated $700 Million, who's in?
Replies: 149
Views: 6247

Re: Jackpot Now Estimated $700 Million, who's in?

Here's something that puzzles me. Many people have no interest in buying a lottery ticket when the prize is "only" around $200 million, but become very interested when the prize gets up above, say $400 or $500 million. Is the chance of winning $200 million simply not enticing enough, not ...
by nimo956
Thu Jan 07, 2016 12:37 pm
Forum: Personal Consumer Issues
Topic: Jackpot Now Estimated $700 Million, who's in?
Replies: 149
Views: 6247

Re: Jackpot Now Estimated $700 Million, who's in?

As I mentioned in the previous thread about this, the odds of winning the jackpot are the same as being 1 of 25 people selected at random out of the entire world population. Thinking about the odds in more concrete terms makes it obvious how unbelievably unlikely it is to win.
by nimo956
Mon Jan 04, 2016 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: Lottery - lump sum or annual payout?
Replies: 75
Views: 6348

Re: Lottery - lump sum or annual payout?

From the Powerball website, the odds of winning the jackpot are 1 in 292,201,338. There are 7.3 billion people on the planet, so if you pick 25 at random, the odds that you are one of those people are the same as the odds of winning the jackpot.

25 people out of the entire world!
by nimo956
Tue Dec 15, 2015 1:08 pm
Forum: Investing - Help with Personal Investments
Topic: Recent college grad investing 6% income
Replies: 12
Views: 999

Re: Recent college grad investing 6% income

investor1993 wrote:Thanks for this information. I updated my post--my tax bracket is 25%.


You are most likely in the 15% tax bracket. You should read up on how that's calculated, as it's important to understand how taxes work.
by nimo956
Mon Dec 07, 2015 9:54 am
Forum: Investing - Help with Personal Investments
Topic: No-brainer to do Mega Backdoor Roth?
Replies: 4
Views: 843

Re: No-brainer to do Mega Backdoor Roth?

Thanks for the replies everyone.
by nimo956
Thu Dec 03, 2015 2:09 pm
Forum: Investing - Help with Personal Investments
Topic: No-brainer to do Mega Backdoor Roth?
Replies: 4
Views: 843

No-brainer to do Mega Backdoor Roth?

Emergency funds: $10k Debt: $0 Tax Filing Status: Single Tax Rate: 15% Federal, 5.15% State State of Residence: MA Age: 29 Desired Asset allocation: 100% stocks / 0% bonds Desired International allocation: 50% of stocks Current retirement assets Taxable $23k (12%) His 401k $124k (63%) His Roth IRA a...
by nimo956
Fri Nov 06, 2015 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Need Advice - Young Engineer pondering of switching Great Job for more $$
Replies: 25
Views: 1870

Re: Need Advice - Young Engineer pondering of switching Great Job for more $$

A more apples to apples comparison would be total compensation comparison, which would would be 100K/year --> 240K/year ish (about 2.4 times increase) . Keep in mind the 240K/year calculation includes 20 hours of OT assumed worked per week where as the 100K/year total compensation only includes bas...
by nimo956
Fri Nov 06, 2015 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Need Advice - Young Engineer pondering of switching Great Job for more $$
Replies: 25
Views: 1870

Re: Need Advice - Young Engineer pondering of switching Great Job for more $$

Would you be moving from a salaried position to an independent contractor? If so, the reason for the higher salary may be to help offset some of the costs you'd now have to cover. Also, is the new job in a higher cost of living area? Be sure that you're comparing apples to apples when evaluating thi...
by nimo956
Fri Oct 09, 2015 10:23 pm
Forum: Personal Consumer Issues
Topic: Planning a trip to Rome, need advice
Replies: 49
Views: 3485

Re: Planning a trip to Rome, need advice

Don't take any taxis in Rome if possible. They are all scams. Will drive around in circles, charge bag fees, etc. Read up about the trick with the 5 and 20 euro bill described in Rick Steve's book. Also, be careful of tourist trap restaurants with mediocre, overpriced food. The best restaurants won'...
by nimo956
Wed Oct 07, 2015 1:20 pm
Forum: Investing - Help with Personal Investments
Topic: Trying out the stock market.
Replies: 48
Views: 1958

Re: Trying out the stock market.

amoncada88 wrote:I only owe $4000 in my car that I don't want to pay off to build credit


That is a mistake. Paying interest doesn't build credit. You should take $4k from our savings and pay the car off in full.
by nimo956
Fri Oct 02, 2015 11:42 am
Forum: Investing - Help with Personal Investments
Topic: Help with Fund Choices
Replies: 7
Views: 322

Re: Help with Fund Choices

I'd like an asset allocation of 50% US Stock, 30% international stock, and 20% bonds (I've come to this allocation by reading on the Vanguard site and here, and think it would be a reasonable approach). My current investment allocation is 100% equities, with 80% in the S&P 500, and 20% in the V...
by nimo956
Mon Sep 28, 2015 10:52 am
Forum: Investing - Theory, News & General
Topic: Should You Buy On The Dips?
Replies: 45
Views: 4484

Re: Should You Buy On The Dips?

Here's my scientific refutation of buying on dips:

Image
by nimo956
Mon Sep 28, 2015 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Is private high school "worth it"?
Replies: 130
Views: 7539

Re: Is private high school "worth it"?

What you are paying for in a top private school is the access to guidance counselors to help with college admissions. These counselors often have strong connections to the admissions staff at the Ivys/Stanford/MIT. They can actually call them up and advocate on your child's behalf. I would look clos...
by nimo956
Fri Sep 25, 2015 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: Disagreements with future spouse over finances: advice for young adult?
Replies: 67
Views: 6176

Re: Disagreements with future spouse over finances: advice for young adult?

Seems like an gross over-reaction on your part. I felt it important to begin saving immediately for expected, increased expenses, whereas she believed the expenses (and ramping up of savings) could happen much more gradually. What expenses are you talking about? Starting a 529 account, house down pa...
by nimo956
Fri Sep 25, 2015 9:07 am
Forum: Personal Consumer Issues
Topic: Talk me out of 4500 purchase [Camera]
Replies: 122
Views: 7258

Re: Talk me out of 4500 purchase [Camera]

If you were a real photographer, you'd leave this digital nonsense behind and get a camera like this! I'm only half kidding.

Image
by nimo956
Sat Sep 05, 2015 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Another Job Change Question
Replies: 6
Views: 624

Re: Another Job Change Question

Tell Company A that the salary is too low and that you'd need a 30% raise to even consider moving.
by nimo956
Wed Sep 02, 2015 12:02 pm
Forum: Investing - Theory, News & General
Topic: Taylor Larimore's History of World Events
Replies: 3
Views: 1014

Re: Taylor Larimore's History of World Events

Thank you! This is exactly what I was trying to find.
by nimo956
Wed Sep 02, 2015 9:43 am
Forum: Investing - Theory, News & General
Topic: Taylor Larimore's History of World Events
Replies: 3
Views: 1014

Taylor Larimore's History of World Events

I remember seeing a table posted by Taylor Larimore that listed the year, going back to 1900 or so, along with the significant world events that occurred during that year. I found it to be a great way to refute the argument that people shouldn't invest in the stock market because of XYZ in the news....
by nimo956
Tue Aug 25, 2015 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: Not pleased with promotion. What to do?
Replies: 15
Views: 3493

Re: Not pleased with promotion. What to do?

The managers job is now yours. That is the one with access and visibility to senior leadership. That is the one that will determine your long term success. Prioritize that. The old job will have to be de-prioritized. Set up "office hours" of a few hours a week where you respond to emails....
by nimo956
Tue Aug 25, 2015 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: Not pleased with promotion. What to do?
Replies: 15
Views: 3493

Not pleased with promotion. What to do?

A few months ago, my immediate manager accepted a new position in a different department within our company. I'm part of a small team, with only one other person and my manager's supervisor. I was promoted to my manager's position and received a 35% raise. The problem is that my department did not g...
by nimo956
Thu Aug 06, 2015 9:20 am
Forum: Personal Finance (Not Investing)
Topic: College Admission Time, What parents need to be aware and how to be helpful
Replies: 284
Views: 24524

Re: College Admission Time, What parents need to be aware and how to be helpful

Be sure not to rule out small liberal arts colleges that might provide more support for undergraduates than larger research universities. Anecdotally, a friend of mine thrived as a math major at Williams, whereas I found the support and guidance at Cornell to be lacking. This is an important conside...
by nimo956
Wed Jul 29, 2015 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Hefty Medical Bill
Replies: 38
Views: 3282

Re: Hefty Medical Bill

Read the Time Magazine article titled, "Bitter Pill: Why Medical Bills Are Killing Us," by Steven Brill. It breaks down, in great detail, hospital bills for people without insurance. He also mentions that there are people you can hire to help negotiate on your behalf. Two companies he ment...

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