Search found 672 matches

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: 5112

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: 7995

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: 151
Views: 12729

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: 432

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: 432

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: 1046

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: 1046

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: 1046

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: 2356

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: 2465

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: 2249

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: 2249

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: 3120

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: 2331

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: 8780

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: 25355

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: 757

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: 17034

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: 4072

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: 1029

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: 3011

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: 606

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: 2316

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: 3940

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: 4779

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: 4973

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: 3584

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: 1575

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: 2940

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: 3650

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: 3650

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%
by nimo956
Fri Jul 28, 2017 7:14 am
Forum: Personal Finance (Not Investing)
Topic: GF Picking a college major
Replies: 105
Views: 6225

Re: GF Picking a college major

When you say not good in math.....are you talking calculus or math in general. Nursing has no math but does have lots of life science but it does involve interaction with people. Accounting could be good for sitting in the back room calculating but if even rudimentary math boggles her, then I guess...
by nimo956
Thu Jul 27, 2017 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Quit my 6-figure job?
Replies: 84
Views: 9585

Re: Should I Quit my 6-figure job?

Why do you assume defeat, and already accept a pay decrease in your mind? What if your new job ends up with a worse working environment in addition to less money! Or, the environment could start off good, but then deteriorate over time as there are changes in the organization. Salary is often a stic...
by nimo956
Wed Jul 26, 2017 7:01 pm
Forum: Personal Consumer Issues
Topic: Help Planning Trip to Olympic National Park
Replies: 18
Views: 973

Re: Help Planning Trip to Olympic National Park

Thanks everyone for the advice. I'll cut out the Mt. Rainier stop and add that to time in Olympic NP so I'm not so rushed/exhausted from driving.
by nimo956
Wed Jul 26, 2017 11:49 am
Forum: Personal Consumer Issues
Topic: Help Planning Trip to Olympic National Park
Replies: 18
Views: 973

Re: Help Planning Trip to Olympic National Park

ONP definitely has a wider variety of easy day hikes compared to NCNP. my concern with your itinerary is Forks to MRNP in one day is a long drive, will not leave you time to do or see much of the mountain. Thanks for letting me know. I was wondering about that leg of the trip. I might just scrap it...
by nimo956
Wed Jul 26, 2017 11:16 am
Forum: Personal Consumer Issues
Topic: Help Planning Trip to Olympic National Park
Replies: 18
Views: 973

Re: Help Planning Trip to Olympic National Park

We're headed there in mid august. You're missing the best national park within that area...north cascades np. Puts olympic to shame. Rainier is nice but its a cluster for the most part...too accessible for people. Head to north cascades...in the middle of nowhere...less crowds...unbelievable scener...
by nimo956
Wed Jul 26, 2017 10:36 am
Forum: Personal Consumer Issues
Topic: Help Planning Trip to Olympic National Park
Replies: 18
Views: 973

Help Planning Trip to Olympic National Park

I'm planning a trip to Seattle, Olympic NP, and Mt. Rainier NP for the end of August. I've roughly outlined the itinerary, but I'd appreciate if someone could sense-check it and tell me if it's too much driving/not feasible. Days 1-2: Port Angeles area: Hurricane Ridge, Lake Crescent Days 3-4: Forks...
by nimo956
Fri Jul 21, 2017 11:12 pm
Forum: Investing - Theory, News & General
Topic: Cryptocurrencies
Replies: 50
Views: 4586

Re: Cryptocurrencies

Bitcoin is surprisingly popular in Argentina. The restrictions on capital have become so onerous that many merchants are accepting it as payment.

https://www.nytimes.com/2015/05/03/maga ... onomy.html
by nimo956
Wed Jun 14, 2017 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: Would you take a 25% pay cut for more professional satisfaction?
Replies: 57
Views: 4400

Re: Would you take a 25% pay cut for more professional satisfaction?

Things like job satisfaction and culture are fickle, whereas salary is more sticky. What happens if you take the lower paying job only to realize it's not what you expected? How long would it take you to climb back to the higher salary offer (not just your current salary)?
by nimo956
Mon Jun 05, 2017 2:09 am
Forum: Personal Consumer Issues
Topic: Worth it to buy expensive clothes?
Replies: 91
Views: 10515

Worth it to buy expensive clothes?

I haven't really bought new work clothes in the last 8 years, and I've been thinking about completely overhauling my wardrobe. All of my dress shirts and pants have way too much fabric, and look baggy in general. My SO affectionately commented that I dress like I'm wearing a potato sack. I've picked...
by nimo956
Wed May 17, 2017 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: How much house? How large of a down payment? Infinite permutations are driving me batty
Replies: 36
Views: 3402

Re: How much house? How large of a down payment? Infinite permutations are driving me batty

Are you considering school quality in your house search, or are you planning on moving again when your child starts school? I've lived in both Medford and Somerville, and it's a fun, happening place for college students or young adults starting their careers. However, I don't think the public school...
by nimo956
Tue May 16, 2017 1:56 pm
Forum: Investing - Theory, News & General
Topic: I don't understand ESPPs
Replies: 2
Views: 328

I don't understand ESPPs

It seems to be a popular benefit at many companies to offer a 15% discount to employees to purchase company stock. In some cases, there are restrictions on how long you have to hold the stock before you can sell, but in other cases I've read on this forum, posters are able to sell immediately, pocke...
by nimo956
Thu May 11, 2017 10:23 am
Forum: Personal Consumer Issues
Topic: Travel tips for first time visitors to England and France?
Replies: 55
Views: 5203

Re: Travel tips for first time visitors to England and France?

For restaurants in Paris, you might want to try Ledoyen in the Champs Elysses. I think a friend of my mentioned that the chef there moved to Le Cinq some time ago, so you might want to check that out as well.
by nimo956
Sat May 06, 2017 10:12 am
Forum: Investing - Theory, News & General
Topic: Why save so much for when you're old?
Replies: 163
Views: 20873

Re: Why save so much for when you're old

I've been in my early 20's and I am now in my early 60's. Yes, there are a few things that I can't do, or are more difficult to do, now relative to 40 years ago. But that is a long way from being ready to sit in a rocking chair and crochet all day. And if the people in their 60's who you know are l...
by nimo956
Tue Apr 04, 2017 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Switching Jobs for less...Has anyone done this....
Replies: 46
Views: 4162

Re: Switching Jobs for less...Has anyone done this....

Why does everyone assume that lower salary = less stress and better work environment? I do have reservations about going back to not for profit work. It frankly makes me uneasy . I used to work for a no for profit and the grant never dried up but it always made me nervous . There is also no over tim...
by nimo956
Tue Mar 28, 2017 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Boston apartment hunting advice/can I afford a studio?
Replies: 48
Views: 4252

Re: Boston apartment hunting advice/can I afford a studio?

Bad news is that you need to live with a roommate, but the good news is that you should be able to save 50% of your gross salary! You don't want to live in Beacon Hill or Back Bay; everything in those areas is expensive and overpriced. Look along either the red, green or orange line. Red line has So...
by nimo956
Sat Mar 25, 2017 7:18 pm
Forum: Personal Consumer Issues
Topic: Adults trip in May to Zion and Bryce National Parks
Replies: 21
Views: 2542

Re: Adults trip in May to Zion and Bryce National Parks

Use this excellent guide book (not just for photogtraphy):

Photographing the Southwest: Southern Utah by Laurent Martrès

https://www.amazon.com/Photographing-So ... phing+utah
by nimo956
Mon Mar 20, 2017 12:45 am
Forum: Investing - Theory, News & General
Topic: an in depth look at gold
Replies: 91
Views: 7799

Re: an in depth look at gold

Physical gold as investment in not very good. However, if you had to flee Syria the only thing worthwhile you can carry out would be gold. Your property, stock investment and currency are probably worthless. If your currency got demonetized as in India recently, gold would have been a good alternat...
by nimo956
Fri Mar 17, 2017 6:40 am
Forum: Personal Finance (Not Investing)
Topic: conflict of interest [CFA vs. fiduciary]
Replies: 27
Views: 2525

Re: conflict of interest [CFA vs. fiduciary]

I would never rely on a toothless law to protect my money for me. Sadly, the only person who cares about the welfare my money is myself. That's why it's important that everyone take responsibility for their own retirement. This isn't like overpaying a few thousand for a car that one time. This is pe...