Search found 699 matches

by nimo956
Fri Apr 06, 2018 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Your Monthly Cost of Living
Replies: 66
Views: 6819

Re: Your Monthly Cost of Living

Live in Boston, MA area:

1. Housing- $1,071
2. Transportation- $50
3. Food- $266
4. Other- $157

Total- $1,544 (annual = $18,528)
by nimo956
Thu Mar 29, 2018 9:41 am
Forum: Investing - Theory, News & General
Topic: How to calculate IRR?
Replies: 16
Views: 1137

How to calculate IRR?

Quick question on calculating IRR. Let's say you have the following cash flow: -1000; 100; 200; 300; 400; 500 If you are using a discount rate of 5%, then the discounted cash flow is: -1000; 95; 181; 259; 329; 392 Do you calculate the IRR on the actual or discounted cash flow (or are both valid)? It...
by nimo956
Fri Mar 23, 2018 12:06 pm
Forum: Investing - Theory, News & General
Topic: Working till retirement is not a great plan
Replies: 175
Views: 13549

Re: Working till retirement is not a great plan

At the danger of being accused of having an Ayn Rand philosophy, your best defense is to continue to learn and improve, thus making yourself indispensable. There is no substitution for talent and efficiency. I think that this sounds sensible at an individual level, but feel that it doesn't apply to...
by nimo956
Tue Mar 20, 2018 2:12 pm
Forum: Investing - Help with Personal Investments
Topic: How to Determine Actual Muni Bond Return?
Replies: 71
Views: 4727

Re: How to Determine Actual Muni Bond Return?

There's no need to keep the inherited investments the same as the original owner had them. He/she had different needs from you (different tax considerations, different appetite for risk, etc.). If it were me I would have no hesitation in selling everything and reallocating the funds into investments...
by nimo956
Tue Mar 20, 2018 12:11 pm
Forum: Personal Consumer Issues
Topic: Cookware Brands - Demeyere?
Replies: 43
Views: 3461

Re: Cookware Brands - Demeyere?

Look into Falk, Mafter Bourgeat, or Mauviel copper cookware. Also, I'd recommend against buying sets, as you are often paying for pieces you don't need/will never use. Spend a bit more on fewer pieces that you really need.

https://www.falkusa.com
by nimo956
Mon Mar 12, 2018 9:53 am
Forum: Investing - Help with Personal Investments
Topic: Small windfall, would like some advice
Replies: 30
Views: 2734

Re: Small windfall, would like some advice

1. Max out 401k at $18.5k 2. Max out IRAs for both you and your wife (for 2017 and 2018) 3. Pay off car loan 4. Increase emergency fund to 6 months expenses 5. Look into mega backdoor Roth IRA 6. Only add to 529 after meeting retirement saving goals 7. $10k seems like a lot to spend on a vacation (i...
by nimo956
Mon Mar 05, 2018 12:44 am
Forum: Personal Finance (Not Investing)
Topic: Pay off low interest student loan quickly or pay the minimum and invest?
Replies: 6
Views: 734

Re: Pay off low interest student loan quickly or pay the minimum and invest?

You aren't comparing apples to apples. Paying off the loan is a guaranteed return, whereas investing in stocks isn't. You'd need to compare the interest rate on the loan to a treasury bond of similar duration. The current 5 year treasury bond yields 2.65%. You will, however, owe federal tax on the i...
by nimo956
Fri Mar 02, 2018 4:06 pm
Forum: Investing - Theory, News & General
Topic: Harvard blows $1Billion picking stocks, averaged 4.4% returns over last decade
Replies: 79
Views: 10210

Re: Harvard blows $1Billion picking stocks, averaged 4.4% returns over last decade

This is people putting their ego at the forefront and trying to outsmart the market - applying logic and analytics is to an illogical market It’s a waste of time and money. Buy the index and worry about other things. Yes, exactly. It's not the managers' money at stake though, so what do they have t...
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: 1082

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: 6266

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: 1443

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: 727

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: 909

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: 3024

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: 1581

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: 2393

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: 3029

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: 4254

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: 4254

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: 606

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: 1059

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: 6606

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: 2236

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: 2786

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: 19903

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: 1631

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: 5708

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: 119
Views: 11755

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: 240
Views: 27164

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: 530

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: 530

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: 1247

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: 1247

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: 1247

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: 2830

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: 2760

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: 2518

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: 2518

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: 3434

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: 2593

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: 9609

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: 376
Views: 40054

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: 924

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: 18274

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: 4521

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: 1126

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: 3440

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: 658

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?