Search found 599 matches

by nimo956
Sat Sep 24, 2016 12:22 pm
Forum: Investing - Help with Personal Investments
Topic: 29 years old, just beginning to invest, 38k salary.
Replies: 15
Views: 1972

Re: 29 years old, just beginning to invest, 38k salary.

You have $47k in taxable savings. You should max your 401k contributions at $18k per year, or the max % your employer will let you deduct from your paycheck. Then, you use the $47k to make up the shortfall in everyday spending needs. This allows you to transfer taxable assets to tax-deferred. Also, ...
by nimo956
Tue Sep 20, 2016 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving enough to retire comfortably? See my Excel model
Replies: 19
Views: 3018

Re: Am I saving enough to retire comfortably? See my Excel model

I'd say just save as much as you can until it hurts. The answer to, "I'm saving too much," is not to reduce your savings rate. Instead you move your retirement 5, 10, 15 years earlier. Instead of assuming you retire at 63, why don't you aim to retire at 50?
by nimo956
Mon Sep 12, 2016 11:45 am
Forum: Investing - Help with Personal Investments
Topic: question about bond investments in my portfolio
Replies: 13
Views: 859

Re: question about bond investments in my portfolio

For a long term treasury fund look at the iShares ETF TLT, or Vanguard's ETF EDV. You could also just buy them directly through Vanguard for no fee. I don't think you'd have to worry about bid/ask spreads, since treasuries are traded so widely. It's usually muni bonds where you need to worry about ...
by nimo956
Mon Sep 12, 2016 11:20 am
Forum: Investing - Help with Personal Investments
Topic: question about bond investments in my portfolio
Replies: 13
Views: 859

Re: question about bond investments in my portfolio

For a long term treasury fund look at the iShares ETF TLT, or Vanguard's ETF EDV. You could also just buy them directly through Vanguard for no fee. I don't think you'd have to worry about bid/ask spreads, since treasuries are traded so widely. It's usually muni bonds where you need to worry about g...
by nimo956
Wed Sep 07, 2016 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Prospective Employer Wants Salary History & Desired Salary
Replies: 265
Views: 18066

Re: Prospective Employer Wants Salary History & Desired Salary

I would highlight that salary expectations should be discussed early on in the interview process. We don't want to waste time with the interview process on someone we cannot afford or who is going to be drastically out of what we're looking to spend. We should never be in an spot where we've had mu...
by nimo956
Wed Sep 07, 2016 12:49 am
Forum: Personal Finance (Not Investing)
Topic: Need Advice... Girlfriend and I are looking to buy our first home in Denver (super hot seller's market)
Replies: 80
Views: 4904

Re: Need Advice... Girlfriend and I are looking to buy our first home in Denver (super hot seller's market)

Buy a bigger house with your parents that the 4 of you can live in comfortably. I'm only half kidding. The thought occurred to me while reading this post, but why isn't there more multi-generational living arrangements in this country, given the high real estate prices in many cities? Why does every...
by nimo956
Wed Sep 07, 2016 12:27 am
Forum: Investing - Theory, News & General
Topic: Wash sales from Pre-Tax and After-Tax 401k from Mega backdoor?
Replies: 27
Views: 1295

Re: Wash sales from Pre-Tax and After-Tax 401k from Mega backdoor?

I think what's so puzzling to most people about purchases in IRAs or 401ks triggering a wash sale is the fact that it's a completely unenforceable law. The IRS has no knowledge of what you hold in your IRA or 401k, so how could they possibly know if a wash sale was triggered in this way? The only wa...
by nimo956
Tue Sep 06, 2016 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Convincing spouse to sell losing investment
Replies: 52
Views: 2959

Re: Convincing spouse to sell losing investment

4) The inheritance may have some personal connection to the deceased. Perhaps these stocks were spouse's mother's or father's picks, and there's some residual connection to the parent through the holdings. Based on what you've described, I think that this is likely the main issue at play here, coup...
by nimo956
Wed Aug 31, 2016 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: Which debt to pay off first?
Replies: 13
Views: 911

Re: Which debt to pay off first?

This is tricky because there are pluses and minuses with all of these loans outside of the mortgage. 1. The student loans have the highest interest rate and smallest balance, which usually means you should pay them off first. However, they likely have the least adverse consequences for falling behin...
by nimo956
Thu Aug 25, 2016 11:50 am
Forum: Personal Consumer Issues
Topic: Play account at Robinhood.....less than $100
Replies: 22
Views: 1392

Re: Play account at Robinhood.....less than $100

What usually has happened is I see a stock on the rise buy and then within 24 hours it's worth 1/2 what I paid. Did you really expect making money in the stock market to be as easy as buying a stock on the rise and seeing the upward trend continue indefinitely? The stock market is an auction sellin...
by nimo956
Sat Aug 13, 2016 11:02 pm
Forum: Investing - Help with Personal Investments
Topic: new chapter of life started - want to save and grow money
Replies: 84
Views: 7668

Re: new chapter of life started - want to save and grow money

So you graduated residency, still with a sizable amount of student loan debt, and instead of working on paying it off you decided to immediately spend your entire savings on financing a house, furniture, 2 new cars, and a vacation on credit cards. That is an incredibly serious mistake, which will se...
by nimo956
Fri Aug 12, 2016 8:22 am
Forum: Personal Consumer Issues
Topic: Suppose one has been rear ended...
Replies: 33
Views: 2398

Re: Suppose one has been rear ended...

Can't believe some people would call 911 for a fender bender. This exact situation happened to me, and I was able to settle it amicably without involving insurance (causing the person at fault's rates to drastically increase). Exchange information with the other party. Get an estimate for the repair...
by nimo956
Thu Aug 11, 2016 9:09 pm
Forum: Personal Consumer Issues
Topic: How much vacation time do you get at work?
Replies: 155
Views: 10179

Re: How much vacation time do you get at work?

My company seems to be unique in that they don't distinguish between sick and vacation days. I've been there for 8 years and get 6 weeks plus 10 holidays. It's a great system if you're never sick. Most everyone takes a week for Thanksgiving and the last two weeks in Dec off. You still have enough da...
by nimo956
Thu Aug 04, 2016 11:13 am
Forum: Personal Consumer Issues
Topic: Florence, Italy Hotel?
Replies: 18
Views: 900

Re: Florence, Italy Hotel?

Today, I would look at Airbnb first. I often find that the rooms are very nice at cheap rates (plus you get to stay with locals who can tell you where to go). Several years ago, I stayed at the Hotel Degli Orafi, which is right near the Ponte Vecchio. It was an extremely nice hotel for a reasonable ...
by nimo956
Fri Jul 22, 2016 3:45 pm
Forum: Personal Consumer Issues
Topic: Visiting Acadia National Park - Tips?
Replies: 22
Views: 1611

Re: Visiting Acadia National Park - Tips?

Definitely go to some of the lobster bakes; you'll find them on the side of the road at people's homes with just an outdoor picnic table. They cook the lobster right there and the prices are reasonable. I enjoyed a kayaking trip along the bay. Saw seals swimming along our boat, as well as some bald ...
by nimo956
Sun Jul 17, 2016 1:27 pm
Forum: Personal Consumer Issues
Topic: Help Planning Trip to Zion
Replies: 8
Views: 1055

Re: Help Planning Trip to Zion

Success! I was able to find an Airbnb right outside of Bryce Canyon (an entire house for 6 with laundry and kitchen for the same price as a hotel room). So I have 3 nights in Zion and 2 in Bryce. Now all that's left to find is the courage to hike Angel's Landing: https://youtu.be/_FY47LEfEG4?t=54m34s
by nimo956
Sat Jul 16, 2016 4:34 pm
Forum: Personal Consumer Issues
Topic: Help Planning Trip to Zion
Replies: 8
Views: 1055

Help Planning Trip to Zion

I'm really late in planning a trip to Zion in September. I've managed to get a 3 night reservation at the Desert Pearl Inn, which should give me enough time to do Angel's Landing, the Narrows, and some of the shorter hikes. The problem is, I can't find any rooms available at Bryce Canyon (both the l...
by nimo956
Thu Jul 14, 2016 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Boss cutting salary in response to employee not doing "job"
Replies: 78
Views: 8894

Re: Boss cutting salary in response to employee not doing

Employers can't cut pay retroactively, as in, "I know that I agreed to pay you $15 per hour, but I decided to only pay you $12 per hour for last week." But they can say "I have been paying you $15, but effective next Monday I am going to pay you $12." It is my understanding that...
by nimo956
Tue Jul 12, 2016 11:40 am
Forum: Investing - Help with Personal Investments
Topic: Jobless with a decent amount of money [Canada]
Replies: 37
Views: 2631

Re: Jobless with a decent amount of money [Canada]

Your best bet is to increase your future earning potential rather than trying to eek out every last bit of return from your 200k. You have two options as I see it: 1. Go into business for yourself, which means sell something that people want at a profit (this can be a physical product or a service)....
by nimo956
Sat Jul 09, 2016 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: Trust nightmare, help needed!!!
Replies: 26
Views: 4096

Re: Trust nightmare, help needed!!!

Sorry for my complete lack of expertise in this area, but this level of fraud seems clearly criminal. I'd imagine the trustee is facing serious jail time. Have you gone directly to the police/attorney general?
by nimo956
Thu Jul 07, 2016 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Picking College and College Scholarships
Replies: 198
Views: 7726

Re: Picking College and College Scholarships

If the kid gets into one of the elites, he won't be the doormat. He has the talent to succeed there. The issue becomes whether they have the drive or get distracted by the various other opportunities available in the university environment. rrppve, You know that mathematically it does not make sens...
by nimo956
Thu Jul 07, 2016 12:45 pm
Forum: Personal Consumer Issues
Topic: Hiking questions
Replies: 154
Views: 8406

Re: Hiking questions

I'm by no means an expert, but I found this post on this hiking blog to be extremely comprehensive (it also has the gear list you're looking for): http://www.mountainphotographer.com/my-backpacking-gear/ A few things I've noticed: 1. Don't wear cotton clothing. Get wool instead. Cotton doesn't dry q...
by nimo956
Wed Jun 15, 2016 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Lease vs Buying a Car
Replies: 41
Views: 4748

Re: Lease vs Buying a Car

I think buying/leasing a new car every 2-3 years is one of the top mistakes you can make when trying to build wealth. How long would it take you to actually save $20k? If it's around 1 year, then you are throwing away 1 years worth of savings every 2-3 years. I can't imagine anything more detrimenta...
by nimo956
Fri Jun 10, 2016 9:27 am
Forum: Personal Consumer Issues
Topic: Hedging EUR Currency Risk for Instrument Purchase
Replies: 7
Views: 390

Hedging EUR Currency Risk for Instrument Purchase

Classical guitar is a hobby of mine and I've been thinking about placing an order to have one custom-built for me. The builder is in the EU, so his price is in Euros. The guitar will take about 8 months to 1 year to build, and payment is due once it is completed. Right now, 1 EUR is about $1.13 USD,...
by nimo956
Thu Jun 02, 2016 11:50 am
Forum: Personal Consumer Issues
Topic: Self Driving Cars
Replies: 51
Views: 2388

Re: Self Driving Cars

To all those saying that it will take many decades for self-driving cars to become prevalent:

The first iPhone/smartphone was released in June 2007 (less than a decade ago). How many people in the world have smartphones today?

If there's a demand for the technology, it will spread like wildfire.
by nimo956
Tue May 31, 2016 9:32 am
Forum: Personal Consumer Issues
Topic: Uber Car and the real cost of driving
Replies: 71
Views: 9331

Re: Uber Car and the real cost of driving

This is just one anecdote. Certain airports have contracts with cab companies so that only they are allowed to pick up customers. A 30 min ride from the airport to my office costs $70, including tolls and tip. The same ride from my office to the airport costs $17 total. I'm now a complete Uber conve...
by nimo956
Tue May 24, 2016 11:01 am
Forum: Investing - Help with Personal Investments
Topic: Advice for a soon-to-be MLB draftee
Replies: 48
Views: 6137

Re: Advice for a soon-to-be MLB draftee

5. Get comfortable saying NO to people (family and friends) that want to spend your money. +1. I've represented a number of former professional athletes in criminal matters. All of them blew through their signing bonuses buying houses and cars for family and friends. What the family and friends did...
by nimo956
Tue May 24, 2016 10:23 am
Forum: Investing - Help with Personal Investments
Topic: Advice for a soon-to-be MLB draftee
Replies: 48
Views: 6137

Re: Advice for a soon-to-be MLB draftee

Can't believe some of these responses. 1. Under no circumstances does he need a financial adviser that charges a % of his assets (including Vanguard). 2. Tell him that no one cares more about his money more than he does, and that he needs to understand his options/choices himself. Don't rely on othe...
by nimo956
Sat May 14, 2016 4:57 pm
Forum: Personal Consumer Issues
Topic: National Universities rankings 25 to 75 - Highest priority
Replies: 65
Views: 4740

Re: National Universities rankings 25 to 75 - Highest priority

Also note that comp sci, math, physics and engineering majors tend to offer the most flexibility after graduation due to their perceived rigor. Does accounting also offer similar flexibility after graduation as computer science? No it doesn't. Top schools don't even offer accounting majors. If you ...
by nimo956
Fri May 13, 2016 3:03 pm
Forum: Personal Consumer Issues
Topic: National Universities rankings 25 to 75 - Highest priority
Replies: 65
Views: 4740

Re: National Universities rankings 25 to 75 - Highest priority

Also note that comp sci, math, physics and engineering majors tend to offer the most flexibility after graduation due to their perceived rigor. Does accounting also offer similar flexibility after graduation as computer science? No it doesn't. Top schools don't even offer accounting majors. If you ...
by nimo956
Fri May 13, 2016 1:55 pm
Forum: Personal Consumer Issues
Topic: National Universities rankings 25 to 75 - Highest priority
Replies: 65
Views: 4740

Re: National Universities rankings 25 to 75 - Highest priority

For schools not in the top 25, I would get a list of companies which regularly recruit on campus. You can then research various entry level jobs and their salaries with whomever is applying to college to help them see what types of industries are out there. They can then make the connection between ...
by nimo956
Fri May 06, 2016 1:11 pm
Forum: Investing - Help with Personal Investments
Topic: 26 y/o with ~$175,000 inheritence
Replies: 40
Views: 7106

Re: 26 y/o with ~$175,000 inheritence

Appreciate all of the feedback so far, everyone. Seems like the somewhat general consensus is to max contribute to 401k and a Roth IRA. Unless something insane happens in the future, the girl I'm with now will be here for the long haul (never know what could happen though). Also, no, I am not ready...
by nimo956
Fri May 06, 2016 9:33 am
Forum: Investing - Help with Personal Investments
Topic: 26 y/o with ~$175,000 inheritence
Replies: 40
Views: 7106

Re: 26 y/o with ~$175,000 inheritence

Increase your paycheck deduction for your 401k so that you hit the maximum each year (currently $18k). Use the inheritance for living expenses to make up for the lower paycheck if needed. This both lowers your taxes and transfers taxable money to tax-sheltered. Also fully fund either a traditional o...
by nimo956
Wed May 04, 2016 10:47 am
Forum: Investing - Help with Personal Investments
Topic: Roth IRA and/or Roth 401k?
Replies: 11
Views: 951

Re: Roth IRA and/or Roth 401k?

The decision whether or not to use a Roth 401k depends upon your marginal tax bracket. It usually only makes sense for those in the lowest or highest brackets. It makes sense for the low brackets because the tax you pay is low. It makes sense for the high brackets if you will always stay at that lev...
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: 2460

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: 26
Views: 3699

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: 4197

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: 554

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: 6376

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: 2113

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: 1347

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: 3369

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: 1347

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: 1347

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: 1347

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: 1347

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: 5139

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: 10029

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: 3236

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: 1591

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.

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