Search found 690 matches

by nimo956
Mon Feb 05, 2018 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Rule of thumb for how much to spend on rent?
Replies: 19
Views: 989

Re: Rule of thumb for how much to spend on rent?

If you're just starting out in your career, then it will be a larger % of your gross income; if mid-career then smaller. My rent is actually lower than when I got my first apt 8 years ago. I think I was paying about 33% then, and I'm down to 13% now. Somewhere in that range is probably a good answer.
by nimo956
Fri Feb 02, 2018 11:53 pm
Forum: Personal Consumer Issues
Topic: Relearning Calculus
Replies: 81
Views: 5994

Re: Relearning Calculus

Work through the undergrad text Abbott's Understanding Analysis.
by nimo956
Wed Jan 31, 2018 10:43 am
Forum: Personal Consumer Issues
Topic: undergrad major shortlist process
Replies: 20
Views: 1358

Re: undergrad major shortlist process

The short answer is computer science first, followed by engineering (either mech, chem, elec, or civil). She needs to have a good GPA though to get competitive internships/first-year offers, so you have to weigh the difficulty of the coursework. If she's interested in finance, you can get offers wit...
by nimo956
Mon Jan 29, 2018 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Weighing pros and cons of potential job opportunity
Replies: 9
Views: 692

Re: Weighing pros and cons of potential job opportunity

You should really take the second option for the salary increase, but you can't commute 2 (or even 1!) hours each way. It will absolutely destroy you. I'd say you need to find a way to move closer to the second job, or find an equivalent job nearby.
by nimo956
Thu Jan 25, 2018 11:52 pm
Forum: Investing - Help with Personal Investments
Topic: Windfall Investment Advice
Replies: 8
Views: 859

Re: Windfall Investment Advice

You said you're going to keep working for another 15 years minimum, so you won't even be withdrawing this money for living expenses until 2023. Also, you won't be withdrawing the money all at once, but over the period of 2023-2067 (and beyond if left for inheritance). Do you think the stock market w...
by nimo956
Thu Jan 25, 2018 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone want to share their monthly budget? Here's ours
Replies: 20
Views: 2943

Re: Anyone want to share their monthly budget? Here's ours

Single adult
Gross Income $94k
Boston area

Annual Budget
Savings- $44k (47%)
Taxes- $20k (21%)
Rent + Util- $13k (13%)
Restaurants/Shopping/Vacation/Hobbies- $11k (12%)
Insurance- $3k (4%)
Groceries + Gas- $3k (3%)

Any anomalies are due to rounding.
by nimo956
Thu Jan 25, 2018 10:59 am
Forum: Personal Finance (Not Investing)
Topic: Time to get out of my $1 million Whole Life Policy?
Replies: 22
Views: 1541

Re: Time to get out of my $1 million Whole Life Policy?

I can't believe the salesman suggested cashing out your 401k and incurring huge penalties to fund this product. Such a huge red flag. It's clear that he's not interested in providing anything remotely approaching financial advice, and that he does not have your best interests in mind. Sever all ties...
by nimo956
Tue Jan 23, 2018 2:11 pm
Forum: Personal Consumer Issues
Topic: How much house can we afford (Madison WI area)?
Replies: 25
Views: 2321

Re: How much house can we afford (Madison WI area)?

Rashen wrote:
Mon Jan 22, 2018 10:00 pm
are you working for EPIC ? just curious
I was wondering this as well. If you do work there, I might reconsider buying a home. I think the average tenure is under 5 years. Several of my friends moved on after 2-3 years and relocated across the country.
by nimo956
Tue Jan 23, 2018 11:30 am
Forum: Investing - Help with Personal Investments
Topic: Losing job soon but have big nest egg -- problem?
Replies: 20
Views: 2957

Re: Losing job soon but have big nest egg -- problem?

Excluding the home equity and 529 plans, you have 2.8m in assets. $90k/year of expenses is 3.2%. This is close to being acceptable for both you and your wife to retire right now. If she continues working then you'll be withdrawing substantially less than 3.2%. I'd say you're fine to become a stay at...
by nimo956
Thu Jan 18, 2018 12:28 pm
Forum: Personal Consumer Issues
Topic: Poll: BHs who rent - what % of gross do you spend on rent?
Replies: 71
Views: 4025

Re: Poll: BHs who rent - what % of gross do you spend on rent?

I’m shocked at how low most people’s numbers are. I think that most Bogleheads probably focus on building a rough budget so they decide how best to direct their money. Getting the top line items right makes a huge difference in being able to accumulate savings. I don’t make a large salary, but thro...
by nimo956
Thu Jan 18, 2018 12:10 pm
Forum: Personal Consumer Issues
Topic: Poll: BHs who rent - what % of gross do you spend on rent?
Replies: 71
Views: 4025

Re: Poll: BHs who rent - what % of gross do you spend on rent?

I live is Boston and spend 13% on rent+util. The key is to split the cost with a roommate or SO.
by nimo956
Thu Jan 18, 2018 8:33 am
Forum: Investing - Help with Personal Investments
Topic: Getting unstuck from current allocation?
Replies: 6
Views: 595

Re: Getting unstuck from current allocation?

All that matters is the price at which you buy and the price at which you sell. Everything in between is just noise. So if you buy equities today, when do you plan to need to use the money for living expenses? If the answer is 30 years from now, then you really don’t care if there’s a crash tomorrow...
by nimo956
Thu Jan 11, 2018 11:28 am
Forum: Investing - Help with Personal Investments
Topic: How often should my AA adjust?
Replies: 17
Views: 1032

Re: How often should my AA adjust?

You've indicated in your plan that you want to de-risk your portfolio over time, adding a greater % of more stable fixed income vs equities. The plan is there to make sure you do it. Your AA should be like a big ship, you shouldn't be making big sudden changes; they should be small and gradual. For ...
by nimo956
Mon Dec 18, 2017 12:33 pm
Forum: Personal Consumer Issues
Topic: How do Bogleheads save on eyeglasses?
Replies: 91
Views: 6276

Re: How do Bogleheads save on eyeglasses?

Just get them online. Sites like Warby Parker or Zenni Optical will often send you sample frames to try on and return so you can get an idea for fit. The markup on glasses in brick and mortar stores is just too large. You pay $500 for what you can get for $50 online. The worst part is that the major...
by nimo956
Thu Dec 14, 2017 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Hit a milestone today; starting to see impact of compounding over time
Replies: 11
Views: 2176

Hit a milestone today; starting to see impact of compounding over time

I hit a financial milestone today that I can't really share with anyone outside of Bogleheads. I'm 31 years old and my net worth just surpassed $400k! I'm not trying to brag so much as relate how achievable this is to anyone creates a plan and sticks to it. I've never had a particularly high-paying ...
by nimo956
Wed Dec 06, 2017 10:20 am
Forum: Investing - Theory, News & General
Topic: How would you value a business if you considered investing in it
Replies: 30
Views: 2653

Re: How would you value a business if you considered investing in it

If you're looking for an academic text to help you work through the calculations, you can check out Investment Valuation by Aswath Damodaran. It's fairly comprehensive (and long!). https://www.amazon.com/Investment-Valuation-Techniques-Determining-University/dp/1118130731/ref=sr_1_1?ie=UTF8&qid=1512...
by nimo956
Mon Nov 27, 2017 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: The fallacy of spending money on "experiences" vs hard assets
Replies: 336
Views: 19173

Re: The fallacy of spending money on "experiences" vs hard assets

I think it's important to avoid boredom and repetition by engaging your mind and learning new things that are difficult. Personally, I've taken up learning an instrument and studying maths in my spare time. Things like mindless internet surfing, or watching TV leave me feeling unsatisfied, because I...
by nimo956
Thu Nov 23, 2017 11:57 pm
Forum: Personal Finance (Not Investing)
Topic: Job Downsizing Question, HELP!
Replies: 18
Views: 1593

Re: Job Downsizing Question, HELP!

I'm not a lawyer, but you should look into whether this pay cut and change in title can be considered a "constructive dismissal," which means that the company is effectively firing you without formally doing so. It won't mean you're entitled to a severance package, but you could receive unemployment.
by nimo956
Fri Nov 17, 2017 2:35 pm
Forum: Investing - Help with Personal Investments
Topic: Help for semi retired friend with 8 figure savings
Replies: 68
Views: 5642

Re: Help for semi retired friend with 8 figure savings

I actually don’t have a problem with the bonds, real estate or gold. I do have a problem with the PE+VC, cash, and stocks. I’m not very familiar with PE+VC investments, but I would pay particular attention to how much ongoing costs eat up the returns. I suspect that the reason the heads of these tea...
by nimo956
Thu Nov 16, 2017 12:49 pm
Forum: Personal Consumer Issues
Topic: Has used furniture dropped in value dramatically?
Replies: 108
Views: 9540

Re: Has used furniture dropped in value dramatically?

I think most people would be shocked to learn how much it actually costs to make furniture in China that you spend thousands for in the showroom. Maybe $100? I know someone who builds custom furniture by himself, where a single chair for a dining room set costs $15k and takes months to build. The le...
by nimo956
Wed Nov 08, 2017 10:34 am
Forum: Personal Finance (Not Investing)
Topic: How old are you and how much do you save for retirement a year
Replies: 150
Views: 14297

Re: How old are you and how much do you save for retirement a year

I'm 31 years old and save $40k per year, which is about 45% of gross income.
by nimo956
Mon Nov 06, 2017 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Inheriting Real Estate in Trust + Taxes
Replies: 4
Views: 498

Re: Inheriting Real Estate in Trust + Taxes

Gill wrote:
Mon Nov 06, 2017 10:34 am
Quite likely this is a revocable trust and your grandfather still lives in the house. For either reason, the house would be an asset of his estate and therefore would receive a stepped up basis.
Gill
Yes, my grandfather still lives in the house. I'll be sure to ask if it's a revocable trust.
by nimo956
Mon Nov 06, 2017 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Inheriting Real Estate in Trust + Taxes
Replies: 4
Views: 498

Inheriting Real Estate in Trust + Taxes

My grandfather bought a two-family home in a Boston suburb in the 1970s for ~$70k. Today, that property will sell for $1m-1.2m. I know that the house was placed into a trust around 1995. I believe my mother is the trustee and that she and my uncle are the beneficiaries. This asset will form the majo...
by nimo956
Mon Oct 30, 2017 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to pay for part-time care for grandfather?
Replies: 14
Views: 1205

Re: Best way to pay for part-time care for grandfather?

I just wanted to thank everyone for their advice and provide an update. Grandfather was doing okay a few weeks ago, but his health seems to have deteriorated to the point where he needs 24/7 care. He still has his mental faculties for the most part, but just sleeps on and off for most of the day and...
by nimo956
Mon Oct 23, 2017 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Best way to pay for part-time care for grandfather?
Replies: 14
Views: 1205

Re: Best way to pay for part-time care for grandfather?

Are your parents/uncles in a position to pay for expenses? Receiving an inheritance is nice, but not at the expense of the person who is leaving it. Good luck with this. My parents and uncles have different levels of net worth/income, so some could cover the extra expense out of pocket, but some co...
by nimo956
Mon Oct 23, 2017 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Best way to pay for part-time care for grandfather?
Replies: 14
Views: 1205

Best way to pay for part-time care for grandfather?

My grandfather is 99 and needs a part-time aid about 6 hrs a day, 7 days a week. At $30/hr, this comes to just over $5k per month. He has no liquid assets, but receives about $5k per month in pensions and social security. The problem is that that $5k still needs to pay for other expenses like food, ...
by nimo956
Wed Oct 18, 2017 1:59 pm
Forum: Investing - Help with Personal Investments
Topic: If someone held a gun to your head, and force u to gamble whether the S&P 500 will rise or fall tomorrow, what do u say?
Replies: 45
Views: 2750

Re: If someone held a gun to your head, and force u to gamble whether the S&P 500 will rise or fall tomorrow, what do u

The only price that matters is when you choose to sell. Do you need to sell shares the day after purchasing them to fund your living expenses? If not, then don't worry about the price tomorrow.
by nimo956
Sun Oct 08, 2017 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: (24M) - Should I take a pay cut for a new career path with a better payoff?
Replies: 21
Views: 2692

Re: (24M) - Should I take a pay cut for a new career path with a better payoff?

How do you know you'll like this work more? Have you spoken with many traders so that you understand what it's like day to day? I'd be worried about the scenario where you take a pay cut to work a job you don't find any more enjoyable. Trading sounds very stressful and up or out, like consulting, to...
by nimo956
Sun Oct 01, 2017 6:40 pm
Forum: Personal Consumer Issues
Topic: Boston to Bar Harbor trip
Replies: 33
Views: 2416

Re: Boston to Bar Harbor trip

In the Boston area, the following are good places to eat (these are my personal favorites, so aren't always close to the tourist areas): Oleana- Turkish Sarma- also Turkish (same owner as above) Suvaai- South Indian (very fresh ingredients) Chili Garden- Szechuan, very spicy Mama Maria- Italian, a ...
by nimo956
Sun Oct 01, 2017 9:07 am
Forum: Personal Consumer Issues
Topic: Boston to Bar Harbor trip
Replies: 33
Views: 2416

Re: Boston to Bar Harbor trip

In the Boston area, the following are good places to eat (these are my personal favorites, so aren't always close to the tourist areas): Oleana- Turkish Sarma- also Turkish (same owner as above) Suvaai- South Indian (very fresh ingredients) Chili Garden- Szechuan, very spicy Mama Maria- Italian, a l...
by nimo956
Sun Oct 01, 2017 8:44 am
Forum: Personal Finance (Not Investing)
Topic: Reach out to hiring manager directly on LinkedIn?
Replies: 52
Views: 3314

Reach out to hiring manager directly on LinkedIn?

There is an open position at a competitor company in my industry for which I feel I'm a good fit. I've already applied online through their careers website, but we all know this can be a black hole. I have a few contacts that work at the company, but they haven't been too helpful since there are ove...
by nimo956
Sun Sep 24, 2017 6:09 am
Forum: Personal Finance (Not Investing)
Topic: When does whole life make sense ?
Replies: 18
Views: 2515

Re: When does whole life make sense ?

Have you heard of the phrase, "sell the family farm?" It can be the case that people inheriting high-value, illiquid assets, like a business, end up needing sell it to pay the estate taxes, because they don't have money to cover it. Stocks and bonds are far more liquid and divisible, so if they comp...
by nimo956
Sat Sep 23, 2017 10:52 pm
Forum: Personal Consumer Issues
Topic: The Expert's Dilemma - How can I know I'm getting a good physician without being one myself?
Replies: 125
Views: 9389

Re: The Expert's Dilemma - How can I know I'm getting a good physician without being one myself?

I'm not a doctor, but someone once told me to ask an anesthesiologist for a recommendation on a surgical procedure.
by nimo956
Tue Sep 19, 2017 2:53 pm
Forum: Personal Consumer Issues
Topic: Name something you had to have and now you regret purchasing it?
Replies: 275
Views: 27714

Re: Name something you had to have and now you regret purchasing it?

I spent over $10k on top quality large format photography equipment (the wooden accordion camera where you get underneath the dark cloth). I was going to be Ansel Adams, venturing off into the wilderness to capture Nature in all her beauty. The bag + hiking gear was over 40 lbs, and I nearly died ca...
by nimo956
Sat Sep 16, 2017 9:32 am
Forum: Personal Consumer Issues
Topic: What care services are available for elderly grandfather (MA)?
Replies: 11
Views: 877

What care services are available for elderly grandfather (MA)?

My grandfather is about to turn 100, and still leads a very independent life. He lives in his own home (alone) and still drives during the day doing errands around town. He is relatively healthy, with no major conditions, but my parents and I have begun to notice some troubling signs that cause us c...
by nimo956
Sat Sep 16, 2017 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Who has needed to use their umbrella insurance?
Replies: 129
Views: 17896

Re: Who has needed to use their umbrella insurance?

Let's say that you are single and make $100k, but don't have much in the way of assets outside of your 401k, IRA, and home equity (i.e. not much in taxable). Let's say you don't have umbrella insurance and are in an auto accident where you are at fault and the other party either dies or is permanent...
by nimo956
Fri Sep 15, 2017 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Advice Badly Needed---Meeting with Financial Advisor
Replies: 49
Views: 4328

Re: Advice Badly Needed---Meeting with Financial Advisor

Thanks again! This is all very helpful. I am going to look into my district's disability insurance again to see what is offered. Unfortunately they do not match for 403(b). I will be sure to put all the resources you have all shared on my reading list. You should look into getting a private policy ...
by nimo956
Fri Sep 15, 2017 12:15 pm
Forum: Investing - Help with Personal Investments
Topic: New salaries, baby on the way, getting finances in order
Replies: 9
Views: 1091

Re: New salaries, baby on the way, getting finances in order

1. You are in the highest tax bracket, so you definitely want a traditional 403b vs a Roth. 2. You will have a sizable taxable account, so you probably want to break up the Target Date funds into their component parts. This is both cheaper and makes rebalancing easier. Luckily, you have great option...
by nimo956
Sun Sep 10, 2017 9:23 pm
Forum: Personal Finance (Not Investing)
Topic: Who actually buys lottery scratch offs?
Replies: 43
Views: 3286

Re: Who actually buys lottery scratch offs?

I wonder if there was ever a drawing in which the expected value of the ticket was greater than the cost of the ticket, maybe by just a cent or two. Like when those massive jackpots happen occasionally. I have never bought one and don't expect I ever will. I've done the math before, and even the la...
by nimo956
Sun Sep 10, 2017 3:20 pm
Forum: Personal Consumer Issues
Topic: How often to exercise Future Increase Option for Disability Insurance?
Replies: 3
Views: 644

How often to exercise Future Increase Option for Disability Insurance?

I have Disability Insurance through Guardian, and every year I wonder whether I should increase my coverage through the Future Increase Option (FIO)? Is it worth it to do this every year if possible? If not, how much should you wait for your income to increase before you exercise it?
by nimo956
Sun Sep 10, 2017 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Thinking about accepting new job that pays a bit less
Replies: 27
Views: 2602

Re: Thinking about accepting new job that pays a bit less

While the new job may involve less travel, how do you know it would be less stressful in terms of hours worked? What if it's okay in the beginning, but then gets more stressful/ has longer hours over time? How do you know you won't end up working just as much, with worse future prospects, for less m...
by nimo956
Mon Sep 04, 2017 9:28 am
Forum: Investing - Help with Personal Investments
Topic: Couple in early 30s, any changes?
Replies: 28
Views: 4159

Re: Couple in early 30s, any changes?

Yes, MD couple. We have disability and malpractice insurance. What do the bogleheads think of umbrella insurance? Employer is a big corporation, so no negotiating with them. I understand how to get a backdoor Roth IRA. My main question is what is the benefit of it since you've already paid taxes on...
by nimo956
Sat Aug 19, 2017 6:48 pm
Forum: Personal Consumer Issues
Topic: Kitchen knife set. Good quality - Recommendations
Replies: 55
Views: 7179

Re: Kitchen knife set. Good quality - Recommendations

I don't think you need to spend a lot of money on a knife set. I do 90% of food prep with a cheap $10 cleaver from the Chinese supermarket. You just need to learn how to use it, treat it well, and sharpen it. For more situational uses, you could look into a paring knife and bread knife.
by nimo956
Fri Aug 18, 2017 2:28 pm
Forum: Personal Consumer Issues
Topic: Powerball - $510 million?
Replies: 64
Views: 5458

Re: Powerball - $510 million?

I have a practical question that I never see discussed. What do you have to do tax-wise after winning? Will the lottery use your prior year tax return to estimate your tax liability and then withhold that amount, or would you have to make estimated payments? What would be different on your 1040? Sid...
by nimo956
Tue Aug 08, 2017 4:56 pm
Forum: Investing - Help with Personal Investments
Topic: [Stashing a windfall in the safest possible place while deciding what to do next]
Replies: 45
Views: 3859

Re: Stashing a windfall in the safest possible place while deciding what to do next

I think the idea to use FDIC-insured CDs is ridiculous for this amount of money. US Treasuries are as safe as any CD, so a Vanguard MM fund that invests in US Treasuries is probably the simplest and safest for her. That would be Vanguard Federal Money Market fund VMFXX which is also used as the cas...
by nimo956
Wed Aug 02, 2017 8:56 pm
Forum: Personal Consumer Issues
Topic: Question for MTB'rs. Buying a bike.
Replies: 22
Views: 1721

Re: Question for MTB'rs. Buying a bike.

Look into the company Moots
by nimo956
Fri Jul 28, 2017 10:22 am
Forum: Personal Consumer Issues
Topic: Italy in August Trip (Rome, Florence, Venice)
Replies: 43
Views: 3156

Re: Italy in August Trip (Rome, Florence, Venice)

I think you should only spend 2-3 nights in Florence and 4-5 nights in Rome. Florence isn't very big, and you can see much of the city in a few days. Rome is enormous by comparison, with lots of different neighborhoods to visit and far more sites to see. Edit: also beware of taking taxis in Rome, an...
by nimo956
Fri Jul 28, 2017 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Savings rate: gross or net?
Replies: 56
Views: 4399

Re: Savings rate: gross or net?

It should always be gross income. I use the formula Income = Savings + Expenses. I then break the %s down into the following categories in my budget: Savings- 49% Taxes- 18% Rent+Util- 13% Insurance- 3% Groceries- 3% Gas (Auto)- 1% Restaurants/Shopping- 6% Hobbies- 5% Vacation- 2% This confuses me....
by nimo956
Fri Jul 28, 2017 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Savings rate: gross or net?
Replies: 56
Views: 4399

Re: Savings rate: gross or net?

It should always be gross income. I use the formula Income = Savings + Expenses. I then break the %s down into the following categories in my budget:

Savings- 49%
Taxes- 18%
Rent+Util- 13%
Insurance- 3%
Groceries- 3%
Gas (Auto)- 1%
Restaurants/Shopping- 6%
Hobbies- 5%
Vacation- 2%