Search found 210 matches

by pepperz
Tue Apr 17, 2018 8:00 am
Forum: Personal Finance (Not Investing)
Topic: Bargaining with Lenders--whom do I choose?
Replies: 8
Views: 872

Re: Bargaining with Lenders--whom do I choose?

Have you tried speaking with a large discount provider like Quicken Loans just to see what kind of terms that can give you?
by pepperz
Wed Apr 11, 2018 11:09 pm
Forum: Investing - Help with Personal Investments
Topic: “Fund bucket” for new car?
Replies: 14
Views: 1073

“Fund bucket” for new car?

How do you guys prioritize saving for your next car? We have an ‘emergency fund’ (savings account) which holds 6 months living expenses should we ever need it. We also have a ‘house fund’ (savings account) in order to fund the down payment for our next home. Does it make sense to create another savi...
by pepperz
Fri Apr 06, 2018 8:40 am
Forum: Investing - Help with Personal Investments
Topic: 401K matching - how not to lose it?
Replies: 4
Views: 619

Re: 401K matching - how not to lose it?

Is it possible to bonus yourself less profits during the year and take the remainder at the end of the year? (thereby collecting the full match throughout the year) Yes, that is definitely possible. Think with me here.... if the max salary the IRS will allow you to match is $270K (or $22,500/month)...
by pepperz
Fri Apr 06, 2018 8:36 am
Forum: Investing - Help with Personal Investments
Topic: 401K matching - how not to lose it?
Replies: 4
Views: 619

Re: 401K matching - how not to lose it?

Can you only contribute a fixed percentage? Could it be time to change §401(k) provider. Yes, our plan only allows us to contribute a fixed percentage. I can change this percentage whenever I want. The other thing is my “salary” will go waaaay up because if bonusing profits through my W2. I think t...
by pepperz
Thu Apr 05, 2018 10:21 pm
Forum: Investing - Help with Personal Investments
Topic: 401K matching - how not to lose it?
Replies: 4
Views: 619

401K matching - how not to lose it?

How do I get the most matching possible from my company despite my unique situation? Background: I own the company. We are 8 employees total. Everyone has a 401K with Safe Harbor matching from the company (4% match when you contribute 5% of your salary.) My goal is to get the full company match whil...
by pepperz
Fri Mar 23, 2018 11:18 pm
Forum: Personal Finance (Not Investing)
Topic: Living in Jupiter FL?
Replies: 9
Views: 1574

Re: Living in Jupiter FL?

englishgirl wrote:
Thu Mar 22, 2018 5:15 pm
Perhaps our idea of modest houses are not the same.
We would want a single family home with yard. 3 or 4 bedrooms that’s at least 2200 sq ft. Can’t find that for less than $600K and even those homes are older with dated floor plans.
by pepperz
Fri Mar 23, 2018 11:13 pm
Forum: Personal Finance (Not Investing)
Topic: Living in Jupiter FL?
Replies: 9
Views: 1574

Re: Living in Jupiter FL?

Did not seem like a retiree's cheap Florida living, but a place even younger folks would want to live, if they could afford it. Yes that’s exactly why it appeals to me. We are late 30’s with a small child so a community with people our age is important to us. Just love the sunshine and ocean and tr...
by pepperz
Thu Mar 22, 2018 6:16 am
Forum: Personal Finance (Not Investing)
Topic: Living in Jupiter FL?
Replies: 9
Views: 1574

Living in Jupiter FL?

Any BH’s live in Jupiter FL who can speak to the high cost of living there? Property taxes are very high. I hate the thought of paying $1K/month in property taxes on a modest house. Housing prices are also very high there compared with most other places in FL. I’d love to hear some reactions from fo...
by pepperz
Wed Mar 14, 2018 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: Recommended savings ‘Buckets’?
Replies: 30
Views: 2340

Recommended savings ‘Buckets’?

What is general BH consensus on how much cash savings you need to have? How necessary would you say each of the following ‘buckets’ are: - Emergency fund (xx months living expenses) - Vehicle fund(s) (calculate when you’ll need a new car and don’t forget to factor how much you’ll get from trading / ...
by pepperz
Sat Feb 24, 2018 2:30 am
Forum: Personal Finance (Not Investing)
Topic: To HSA or not?
Replies: 8
Views: 758

To HSA or not?

We are switching health insurance from individual plan on exchange to company sponsored. Options: Can select an HSA plan with Blue Cross with $4500 deductible. Or Blue Cross Silver plan with $500 deductible. Usually I would go with HSA without thinking twice but we are (hopefully) planning on having...
by pepperz
Fri Feb 23, 2018 12:23 am
Forum: Personal Consumer Issues
Topic: Florida in the summer
Replies: 113
Views: 11351

Re: Florida in the summer

Mel, anytime I’ve looked into anything remotely near the ocean in FL the property taxes alone are enough to make me faint! May I ask how you deal with that?
Mel Lindauer wrote:
Sun Jan 18, 2015 4:51 pm
I live right across the street from the ocean in central Florida.
by pepperz
Mon Feb 19, 2018 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Advice for DIY bookkeeping for S-Corp owner? Software/ systems?
Replies: 2
Views: 332

Re: Advice for DIY bookkeeping for S-Corp owner? Software/ systems?

We use Xero for business books and love it. It pulls in all your transactions automatically and is easy to use.
by pepperz
Sun Feb 18, 2018 9:12 am
Forum: Investing - Help with Personal Investments
Topic: Feedback on Guideline 401k
Replies: 11
Views: 1114

Re: Feedback on Guideline 401k

We are about to pull the trigger with Guideline for our employees. We have 6 employees so looking at $48/month to offer this account.

Guideline integrates seamlessly with our payroll provider so convenience is the primary factor.
by pepperz
Sat Feb 17, 2018 11:36 pm
Forum: Investing - Theory, News & General
Topic: How to invest tax refund?
Replies: 4
Views: 541

Re: How to invest tax refund?

I guess that is the problem. I’m not sure if I “need” it or not. I mean, we do have savings goals for next house / cars / vacations... but those are more “wants” than straight up needs so I’m not sure how strict to be with this. Also not sure whether the $11K we have allocated for ROTH would be bett...
by pepperz
Sat Feb 17, 2018 11:26 pm
Forum: Investing - Theory, News & General
Topic: How to invest tax refund?
Replies: 4
Views: 541

Re: How to invest tax refund?

We both have businesses and purposely over estimate our estimated tax payments. I’ve been on the other end too many times and would rather this way :) If you're getting back a $8,000 or $10,000 tax return back that is to much money. You should talk to your tax professional and adjust your claiming s...
by pepperz
Sat Feb 17, 2018 9:58 am
Forum: Investing - Help with Personal Investments
Topic: When do IRA's stop making sense?
Replies: 37
Views: 2820

Re: When do IRA's stop making sense?

I think contributing to two ROTH’s makes sense. One for you and one for your wife. Note: “Backdoor” does not apply to you here. You don’t need it. It’s only needed for those who make too much money to contribute directly to a ROTH. I can still contribute to an IRA, but, it's not tax deductible. Whic...
by pepperz
Sat Feb 17, 2018 9:45 am
Forum: Investing - Theory, News & General
Topic: How to invest tax refund?
Replies: 4
Views: 541

How to invest tax refund?

It looks like we are looking at an $8K refund for 2017. Main question: Is it wise to max out all available retirement space first, before funding your non-essential taxable savings goals? I’m just wondering whether it makes more sense to keep the refund and put it towards our “non essential” savings...
by pepperz
Sat Feb 17, 2018 9:07 am
Forum: Investing - Help with Personal Investments
Topic: When do IRA's stop making sense?
Replies: 37
Views: 2820

Re: When do IRA's stop making sense?

OP, Do you make too much money to contribute to an IRA altogether? Or too much money for your contribution to be tax deductible? If it’s the former, that’s the only time you’d need to consider a Backdoor Roth. Remember a Roth is still advantageous because the *earnings* grow tax free. You should max...
by pepperz
Wed Feb 14, 2018 9:48 pm
Forum: Personal Consumer Issues
Topic: Used car - warranty or no?
Replies: 24
Views: 953

Used car - warranty or no?

A friend told me this smart approach to buying a new car and avoiding the depreciation hit. 1 - Find the two to three year old version of the car you want. 2 - Get it checked by a good mechanic. 3 - Buy a warranty on the car so you’re covered for at least five years. Steps one and two I’ve heard bef...
by pepperz
Sun Feb 11, 2018 7:49 pm
Forum: Investing - Theory, News & General
Topic: Borrow vs Pay Cash
Replies: 24
Views: 1922

Re: Borrow vs Pay Cash

I pay cash for everything because it is the strongest bargaining position. And the simplest purchase. j :D Does cash get you better deals on new cars at the dealer these days? Our last new car we purchased actually gave us a better deal by taking out a loan. We kept the loan for two months and paid...
by pepperz
Sun Feb 11, 2018 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking career advice - Software Engineer
Replies: 34
Views: 2915

Re: Seeking career advice - Software Engineer

If you’re unhappy and the place is toxic, I’d make plans on leaving.

May as well get a paycheck from a place you feel appreciated and let your current work hire someone else who actually wants to be there.
by pepperz
Sat Feb 10, 2018 6:52 pm
Forum: Investing - Theory, News & General
Topic: Borrow vs Pay Cash
Replies: 24
Views: 1922

Borrow vs Pay Cash

Let’s say you decide to buy a new car and have the ability to pay cash. The dealership offers you a loan for 1.5%. The popular opinion here seems to be: take the loan if you have a reasonable chance of getting better return investing the cash. I get it. Make 3.5% or more investing your cash (assumin...
by pepperz
Sat Feb 03, 2018 10:20 pm
Forum: Investing - Theory, News & General
Topic: Request perspective on career, life, and finance
Replies: 16
Views: 3476

Re: Request perspective on career, life, and finance

4. In the long run, my goal is to apply advanced technologies like the ones I am learning here in the field of global health. Does it not make sense to develop serious technical chops over the next 3-4 years and then dive into the business side of things? If your goal is success on the ‘business si...
by pepperz
Sat Feb 03, 2018 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: [Flawed?] Paying off mortgage in 5 years
Replies: 17
Views: 2197

[Flawed?] Paying off mortgage in 5 years

A friend referred me to this article. He himself is executing this strategy and swears by it. http://www.claytonmorris.com/blog/2015/7/20/how-to-pay-off-your-house-within-5-years-using-these-awesome-ninja-tricks Curious on the Boglehead POV about this strategy for someone who wants to make paying of...
by pepperz
Tue Jan 30, 2018 8:52 am
Forum: Personal Consumer Issues
Topic: Is this new car the smarter option?
Replies: 24
Views: 1740

Is this new car the smarter option?

My friend purchased a Toyota Yaris *new* in 2008 for $12K and still drives it. 10 years and still going. When it needs to be replaced, he will do the same thing... the Yaris base model now costs $16K but Hundai has a $12K base model he would go for. If your goal with driving is primarily to have a r...
by pepperz
Thu Jan 18, 2018 9:34 am
Forum: Investing - Theory, News & General
Topic: $399 - New Course - Fire your Financial Advisor - By WhiteCoat Investor - Anyone?
Replies: 121
Views: 7793

Re: $399 - New Course - Fire your Financial Advisor - By WhiteCoat Investor - Anyone?

I am not a doctor but I appreciate WCI's content / teaching so much that I purchased his book from Amazon. One time I paid $50 for a single file PDF "e-book" that teaches you how to transform your body. (Increase muscle, decrease fat.) A lifetime friend of mine was so impressed by my results and (al...
by pepperz
Thu Jan 18, 2018 7:43 am
Forum: Personal Finance (Not Investing)
Topic: To the doctors on the forum
Replies: 88
Views: 5512

Re: To the doctors on the forum

I had an MRI a few months ago and asked this question as I was checking out: Me: “By the way, I’m just curious— how much does this cost?” Lady: “About $8,000.” Me: “What?! $8,000 for The 10 mins I spent in there?” Lady: “Well it doesn’t mean the insurance company is going to pay that much...” Me: “H...
by pepperz
Sat Dec 30, 2017 9:42 am
Forum: Personal Finance (Not Investing)
Topic: How to determine ‘reasonable compensation’
Replies: 9
Views: 1034

Re: How to determine ‘reasonable compensation’

I did come across this service “RCreports.com” in my research... anyone use them?
by pepperz
Sat Dec 30, 2017 9:24 am
Forum: Personal Finance (Not Investing)
Topic: How to determine ‘reasonable compensation’
Replies: 9
Views: 1034

Re: How to determine ‘reasonable compensation’

I am sure net profit and how much you take in distributions plays a part, right?

ie - a plumber nets $400K and pays himself a salary of $75K vs a plumber netting $90K and paying himself $75K?
by pepperz
Sat Dec 30, 2017 12:19 am
Forum: Personal Finance (Not Investing)
Topic: How to determine ‘reasonable compensation’
Replies: 9
Views: 1034

How to determine ‘reasonable compensation’

We are switching to S-Corp starting Jan 1 2018. My biz partner and I will be W2 employees and have to specify our base salary. I’ve talked with two CPA’s and cannot get a straight answer. Surely there must be a way to calculate ‘reasonable compensation’ based on relevant factors of your industry / p...
by pepperz
Fri Dec 29, 2017 5:03 pm
Forum: Investing - Theory, News & General
Topic: Paying off mortgage before investing at all?
Replies: 75
Views: 8039

Re: Paying off mortgage before investing at all?

Klang- if I'm hearing you right then one should really max tax deferred, then Roth, then invest / pay off mortgage with what is left? This also begs a question for me— Let’s say one is at 25% marginal tax bracket and invests $10K into tax deferred 401K.... can that investment be considered to delive...
by pepperz
Fri Dec 29, 2017 3:05 pm
Forum: Investing - Theory, News & General
Topic: Paying off mortgage before investing at all?
Replies: 75
Views: 8039

Re: Paying off mortgage before investing at all?

Dottie: just making sure I’m reading your suggestion right... you’re saying to contribute 15% of your net (as a baseline) to retirement and then whatever is in excess to paying off your mortgage? Having cash for a house is phenomenal. I will tell you that you can do very well by paying extra on mort...
by pepperz
Fri Dec 29, 2017 2:58 pm
Forum: Investing - Theory, News & General
Topic: Paying off mortgage before investing at all?
Replies: 75
Views: 8039

Re: Paying off mortgage before investing at all?

This also begs a question for me— Let’s say one is at 25% marginal tax bracket and invests $10K into tax deferred 401K.... can that investment be considered to deliver an immediate return of 25% right away? Since that investment technically gives you an “extra” $2.5K that same year, could you not pa...
by pepperz
Fri Dec 29, 2017 2:54 pm
Forum: Investing - Theory, News & General
Topic: Paying off mortgage before investing at all?
Replies: 75
Views: 8039

Re: Paying off mortgage before investing at all?

That is certainly a valid point. But couldn’t you justify that once mortgage is paid off, you could focus all that now available cash flow into retirement? I suppose length of time plays a big factor in that... ie if you can pay off mortgage in 3-4 years losing those potential returns may be easier ...
by pepperz
Fri Dec 29, 2017 2:02 pm
Forum: Investing - Theory, News & General
Topic: Paying off mortgage before investing at all?
Replies: 75
Views: 8039

Paying off mortgage before investing at all?

Can someone make a valid argument for focusing all efforts on paying off all forms of debt FIRST (including a mortgage) before investing in any other way? (This means putting off retirement investing until mortgage is paid...) Cool story: I have a friend who was way over invested in real estate duri...
by pepperz
Fri Dec 29, 2017 1:54 pm
Forum: Investing - Theory, News & General
Topic: Which is most like S&P 500?
Replies: 14
Views: 1429

Re: Which is most like S&P 500?

Done and done! Thank you for the insight
livesoft wrote:
Fri Dec 29, 2017 10:47 am
OK, then Package #1 is simple enough for you. I suggest you use it.
by pepperz
Fri Dec 29, 2017 10:40 am
Forum: Investing - Theory, News & General
Topic: Which is most like S&P 500?
Replies: 14
Views: 1429

Re: Which is most like S&P 500?

Haha good point. The phrase literally obviously means much more than what I think... my knowledge of this stuff is overly simple and I don’t want to complicate details. S&P is just “good enough for me” I want this account to be "100% Stocks"... in my mind this literally means an index that tracks th...
by pepperz
Fri Dec 29, 2017 10:37 am
Forum: Investing - Theory, News & General
Topic: Which is most like S&P 500?
Replies: 14
Views: 1429

Re: Which is most like S&P 500?

Of course I could be wrong! Lots of US companies in the S&P have global presences anyways so the indirect international exposure within the S&P is good enough for me. Thanks so much to all who have replied. Very much appreciated. The packages are mutually exclusive so you cannot mix them. I'm going ...
by pepperz
Thu Dec 28, 2017 12:37 pm
Forum: Investing - Theory, News & General
Topic: Which is most like S&P 500?
Replies: 14
Views: 1429

Re: Which is most like S&P 500?

Thanks so much to all who have replied. Very much appreciated. The packages are mutually exclusive so you cannot mix them. I'm going to just choose package #1 even though it has International. It's not *that* big a deal but I believe a 100% US based index will out-perform international for the most ...
by pepperz
Thu Dec 28, 2017 11:42 am
Forum: Investing - Theory, News & General
Topic: Which is most like S&P 500?
Replies: 14
Views: 1429

Which is most like S&P 500?

I've opened a 529 plan for our child via New York's 529 plan. (Our state doesn't offer any tax credits and NY had the cheapest fees.) I want this account to be "100% Stocks"... in my mind this literally means an index that tracks the S&P 500. The account offers 6 different Vanguard investment plans ...
by pepperz
Sat Dec 23, 2017 10:53 pm
Forum: Investing - Theory, News & General
Topic: Balancing Short & Long term goals?
Replies: 5
Views: 512

Re: Balancing Short & Long term goals?

Appreciate the perspective, Lou. There can only be one priority at a time.

Makes sense I haven’t fully made the decision to accept one over the other... otherwise this wouldn’t be an issue. Will think about it more. Thanks.
by pepperz
Sat Dec 23, 2017 9:31 pm
Forum: Investing - Theory, News & General
Topic: Balancing Short & Long term goals?
Replies: 5
Views: 512

Balancing Short & Long term goals?

This is for all you “all or nothing” type folks... If I am convinced something is a best practice, I will do whatever needs to be done at whatever expense to my time or energy. ie- lifting weights is best for my health (even though I despise it) I will wake up at 4:30am if it’s the only way I can fi...
by pepperz
Fri Dec 22, 2017 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: S-CORP: How do taxes work?
Replies: 33
Views: 2529

Re: S-CORP: How do taxes work?

Thank you to everyone who helped me get to the bottom of this!

FYI if my followup question on 401K interests you please feel free to participate in this thread I just started.
by pepperz
Fri Dec 22, 2017 7:50 pm
Forum: Investing - Theory, News & General
Topic: 401K - best for biz w/ employees?
Replies: 3
Views: 512

401K - best for biz w/ employees?

We have W2 employees so unfortunately biz partner and I cannot go Solo 401K. What’s the next best thing we should look at? I’m thinking 401K that allows after tax contributions and yearly IRA conversions. Is that the “next best thing” (to a solo 401k) that a biz owner with employees should consider?...
by pepperz
Fri Dec 22, 2017 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: S-CORP: How do taxes work?
Replies: 33
Views: 2529

Re: S-CORP: How do taxes work?

I wish we could use Solo 401K but we do have other W2 employees besides just us. Hoping we can find a plan that allows after tax contributions and yearly conversions. But that’s for another thread. :) If you plan on using Solo 401k for your S-Corp, please be aware that the solo 401k for the S-Corp m...
by pepperz
Fri Dec 22, 2017 10:56 am
Forum: Personal Finance (Not Investing)
Topic: S-CORP: How do taxes work?
Replies: 33
Views: 2529

Re: S-CORP: How do taxes work?

Thank you! As owners of the business why would we ever want to “bonus” ourselves through payroll when it’s cheaper to take distributions? I take it “bonus” is for non-owner employees and “distributions” are for owners. That's right, you would use the bonus feature through payroll if you wanted to gi...
by pepperz
Fri Dec 22, 2017 8:56 am
Forum: Personal Finance (Not Investing)
Topic: S-CORP: How do taxes work?
Replies: 33
Views: 2529

Re: S-CORP: How do taxes work?

Interesting! So technically I do NOT need to go through our payroll system in order to bonus anything above our salary? That’s how we did it with LLC (just transfer bonus amounts straight from biz to personal bank accounts). Our payroll system has a function for “bonus” and it automatically takes ta...
by pepperz
Thu Dec 21, 2017 10:09 pm
Forum: Personal Finance (Not Investing)
Topic: S-CORP: How do taxes work?
Replies: 33
Views: 2529

Re: S-CORP: How do taxes work?

Thanks everyone! So here’s my understanding: - tax liability for business profit passes through to the owners... Example: if business makes $100K profit and there are two 50% shareholders, each owner is responsible for $50K on their personal tax return... even if they leave this $100K in the busines...
by pepperz
Thu Dec 21, 2017 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: S-CORP: How do taxes work?
Replies: 33
Views: 2529

S-CORP: How do taxes work?

My company recently switched to S-Corp (from LLC)... my partner and I became W2 employees of this new entity. Our compensation now gets taxes automatically taken out via payroll, which is convenient... but my question is: What happens to business profits that we don’t take? S-Corp tax liability pass...
by pepperz
Tue Dec 19, 2017 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: 401K allowing after-tax contributions?
Replies: 0
Views: 186

401K allowing after-tax contributions?

My business is considering providing 401K’s to our employees... I’ll be looking at “safe harbor” plans for sure but how do I go about looking for the type of plan we can max out after the $18K deduction? Any reason why I shouldn’t specifically look for the kind of 401K where we can all contribute af...