Search found 286 matches

by runner540
Sat Sep 23, 2017 8:57 am
Forum: Personal Consumer Issues
Topic: Asking for no wedding gifts
Replies: 48
Views: 2201

Re: Asking for no wedding gifts

Send a wedding announcement with a tasteful note explaining that your house is fully furnished and you don't need gifts. Suggest that people who want to send gifts donate instead to their favorite charity, not yours. I know we all come from different backgrounds, but in American culture, this isn't...
by runner540
Fri Sep 22, 2017 9:40 pm
Forum: Personal Consumer Issues
Topic: Asking for no wedding gifts
Replies: 48
Views: 2201

Re: Asking for no wedding gifts

Since you aren't inviting anyone, how about sending out an announcement of your nuptials adding this: "A contribution to your favorite charity in our honor is a wonderful way to commemorate our special day." In the US, wedding invitations or announcements should not reference gifts at all. Just con...
by runner540
Fri Sep 22, 2017 9:27 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Efficiency of Hard Money Lending
Replies: 6
Views: 434

Re: Tax Efficiency of Hard Money Lending

Correct.

And 5% after tax is your nominal return. There's probably 1-2% inflation over the year, so "real" return is 3-4%.
by runner540
Fri Sep 22, 2017 9:21 pm
Forum: Personal Consumer Issues
Topic: Asking for no wedding gifts
Replies: 48
Views: 2201

Re: Asking for no wedding gifts

First rule: no references to gifts on the invitation at all! You can ask your parents/bridesmaids to spread the word very discreetly, and only if asked by a guest. This seems like more of an etiquette question than financial. Send it to the Emily Post Institute: http://emilypost.com/contact/ Serious...
by runner540
Fri Sep 22, 2017 5:28 pm
Forum: Investing - Help with Personal Investments
Topic: can I rely solely on the value of my home to retire?
Replies: 11
Views: 1001

Re: can I rely solely on the value of my home to retire?

You can if you want, but it's a big concentrated risk. A lot can change in 15 years. In 1993, Best Buy was on Fortune's list of best performing stocks 2 years in a row. Would it have been a good idea then for someone planning on retiring in 2008 to put all their funds into Best Buy and hold for 15 y...
by runner540
Fri Sep 22, 2017 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Budget Approximates for medical insurance post retirement?
Replies: 4
Views: 329

Re: Budget Approximates for medical insurance post retirement?

For your wife, you'll need to cover 10 years on the individual market. $200k? And what constitutes "insurance" may change dramatically. If annual and lifetime limits make a comeback, or if certain key benefits are no longer covered (such as cancer drugs, or hospitalization), you'll need a lot more c...
by runner540
Fri Sep 22, 2017 11:50 am
Forum: Personal Finance (Not Investing)
Topic: No down payment for home purchase: what is worst-case scenario?
Replies: 39
Views: 1988

Re: No down payment for home purchase: what is worst-case scenario?

Can someone really get a mortgage with zero down? I guess we learned nothing from the last housing meltdown. Yes, mortgages with 0%, or 1-3% down (paid by the lender and rolled into the mortgage, so effectively 0% down) are back in a big way. For more detailed analysis, check out the Housing Risk s...
by runner540
Fri Sep 22, 2017 7:26 am
Forum: Personal Consumer Issues
Topic: Bank Employees - comfort level of getting a loan through employer?
Replies: 9
Views: 630

Re: Bank Employees - comfort level of getting a loan through employer?

I would take advantage of the programs if, 1. The underwriting/documentation was handled by another group and kept confidential from my team (pretty standard procedure at larger banks) and 2. I would not have to refinance I left the bank either voluntarily or involuntarily. (Check if the interest ra...
by runner540
Wed Sep 20, 2017 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Expat in Norway tax help
Replies: 2
Views: 238

Re: Expat in Norway tax help

Flashes1 wrote: ↑
Wed Sep 20, 2017 2:29 pm
The Big 4 accounting firms all have tax professionals in Norway.
+1
Even for Bogleheads, this is not a good idea to DIY. Too many moving parts and legal and financila implications from Mistakes. I speak from experience both first and second hand.
by runner540
Tue Sep 19, 2017 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Getting over emotional attachment to house
Replies: 70
Views: 5595

Re: Getting over emotional attachment to house

Do remember that any gains beyond $500K will be taxable as long-term cap gains plus standard CA tax. And no income averaging or other tweaks, so it shows up as a big hit in one year. It can be worth doing a bit of tax modeling to understand the impact. As far as other ways, I haven't paid attention...
by runner540
Mon Sep 18, 2017 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: Save/invest and buy house with cash - yes/no?
Replies: 16
Views: 1078

Re: Save/invest and buy house with cash - yes/no?

Just toying with this idea this morning... Has anyone on this board ever done this or considered doing this? Instead of getting a mortgage on a house (first home), continue to rent, save, invest, and accumulate enough cash to pay for a house in cash. Or at least have the option of using 100% cash f...
by runner540
Mon Sep 18, 2017 5:08 pm
Forum: Investing - Help with Personal Investments
Topic: Divorced parents saving for kids college
Replies: 16
Views: 1128

Re: Divorced parents saving for kids college

Our divorce decree is general in this regard. We agree to share the cost of college in general. Generally speaking, we work these things out without an issue. I was just looking for the simplest/cleanest approach. I sincerely wish for the kids that this stays the case forever. But a LOT can change ...
by runner540
Mon Sep 18, 2017 12:57 pm
Forum: Personal Consumer Issues
Topic: Is it really Worth it to brown bag your lunch at work?
Replies: 313
Views: 17167

Re: Is it really Worth it to brown bag your lunch at work?

Brown bagging early in career is a 'Career Limiting Move'. Brown bagging late in career is probably worse until you are on the early retirement list. This really varies by industry, role, office, and team. In my jobs, being away from My desk for the time it requires to go out and get lunch everyday...
by runner540
Mon Sep 18, 2017 7:21 am
Forum: Personal Finance (Not Investing)
Topic: Pocket money allowance for college student
Replies: 48
Views: 2498

Re: Pocket money allowance for college student

We give our freshman college student daughter $500 per month. gasdoc crap now I wish my dad was a doc :D I have letters after my name and don't get 500/mos in general spending money. I bet your daughter is popular +1 Glad you feel she's responsible with it. To the OP, think about what lifestyle/soc...
by runner540
Sat Sep 16, 2017 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: 15 vs 30 year refinance vs cash out refinance
Replies: 32
Views: 2016

Re: 15 vs 30 year refinance vs cash out refinance

Posts like this make me very bearish on buying a home when I don't otherwise need to buy. I do not want to be buying in a market where someone thinks it's a good idea to take out all the equity and lever up 5-6 more properties, counting on the cash flow from renters to make it work. Very vintage 200...
by runner540
Fri Sep 15, 2017 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Average American Net Worth is $534,600?
Replies: 15
Views: 2327

Re: Average American Net Worth is $534,600?

Those numbers are correct, amd they come from the Federal Reserve's 2013 Survey of Consumer Finances.

https://www.federalreserve.gov/econres/ ... Charts.pdf
See pages 40/41 for the mean/median figures.

19 people with $0 and one With $10MM averages $500k. But the median is $0.
by runner540
Wed Sep 13, 2017 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Turned down for umbrella insurance
Replies: 56
Views: 4821

Re: Turned down for umbrella insurance

I'm not even a homeowner and I got coverage with no problem from State Farm, where I have renters and auto.
by runner540
Wed Sep 13, 2017 6:51 am
Forum: Investing - Help with Personal Investments
Topic: Real estate investment overseas vs USA market
Replies: 4
Views: 605

Re: Real estate investment overseas vs USA market

1] If I buy a home in India with loan approved, will this affect my credit rating here in US when i plan to buy here as well? I discussed with a colleague of mine who is from India and owns an apartment there. He confirmed there is no impact in his case and isn't being tracked here. 2] Will bank ch...
by runner540
Wed Sep 13, 2017 6:32 am
Forum: Personal Consumer Issues
Topic: Nature of fraud (or, what I was afraid of)
Replies: 8
Views: 1670

Re: Nature of fraud (or, what I was afraid of)

In my experience doctors offices now take a picture of me when I go there if I am a new patient. They require me to show them other ID like a drivers license and then they compare the pictures. They repeat this check sometimes when I go back after a long time lapse. They did the same thing when I w...
by runner540
Tue Sep 12, 2017 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: Tips on helping spouse feel that we are truly FI?
Replies: 18
Views: 1443

Re: Tips on helping spouse feel that we are truly FI?

OP, here's a thought: maybe you think you're FI based on your assets versus future obligations/liabilities. if your wife thinks you're not yet FI (different question from whether she wants to keep working), she is either discounting the assets more than you, or perceives greater obligations. Maybe s...
by runner540
Sat Sep 09, 2017 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: At what point would you considering Umbrella Insurance
Replies: 37
Views: 3346

Re: At what point would you considering Umbrella Insurance

What calculation/ formula should a person use to determine the limits of an umbrella policy? a. Total net worth b. a above less 401k/403b accounts? Do you also subtract IRA & Roth accounts? c. Total net worth + some percent of future earnings (what percent? The amount you typically save after expen...
by runner540
Fri Sep 08, 2017 12:15 am
Forum: Personal Finance (Not Investing)
Topic: Guaranteed 7% Real Estate Deal: Pull from Stock Market?
Replies: 36
Views: 3733

Re: Guaranteed 7% Real Estate Deal: Pull from Stock Market?

OP, you use the word "we" a lot in your initial post. If you are a real estate investor doing a deal, negotiating with Fortune 500 companies, you can judge if it makes sense. If you are not, if you are being asked to put some money in someone else's deal, my advice as an internet stranger is "no wa...
by runner540
Thu Sep 07, 2017 11:25 pm
Forum: Personal Finance (Not Investing)
Topic: Guaranteed 7% Real Estate Deal: Pull from Stock Market?
Replies: 36
Views: 3733

Re: Guaranteed 7% Real Estate Deal: Pull from Stock Market?

That sounds too good to be true. If it were so easy to get 7% guaranteed, they wouldn't need your money. Plenty of bigger fish would jump on that. Like they say in poker, if you don't know who the sucker at the table is, it's you. Someone is taking a lot of risk in this deal to "guarantee" you 7%: i...
by runner540
Mon Sep 04, 2017 3:06 pm
Forum: Investing - Help with Personal Investments
Topic: One Year Later: Hmm...how would you tweak this portfolio? Can I consider early retirement?
Replies: 35
Views: 5047

Re: One Year Later: Hmm...how would you tweak this portfolio? Can I consider early retirement?

Sorry to hear that you are not happy with your work situation. However, I would not recommend retiring yet. It might work out, but it's too close for comfort for me: I ran a spreadsheet with the following assumptions, all in real dollars for simplicity (using the primary earner's age): Age 55-70: wi...
by runner540
Mon Sep 04, 2017 10:27 am
Forum: Investing - Help with Personal Investments
Topic: Couple in early 30s, any changes?
Replies: 28
Views: 3767

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 runner540
Mon Sep 04, 2017 10:20 am
Forum: Investing - Help with Personal Investments
Topic: 20% international question
Replies: 22
Views: 1933

Re: 20% international question

But will only 20% make that much of a difference when US market is not doing as well? Depends how long the "not doing well" lasts and how you define "not doing well". Imagine that you retire and over 30 years, your domestic stock investments return a measly 0.05% annually, including dividend reinve...
by runner540
Sun Sep 03, 2017 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Becoming a Landlord: My Experiences
Replies: 74
Views: 9784

Re: Becoming a Landlord: My Experiences

Thanks for sharing, denovo. This is a good thread to bookmark for the frequent inquiries tha get posted.
by runner540
Sat Sep 02, 2017 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: How much sooner could you retire with NO property taxes?
Replies: 116
Views: 7182

Re: How much sooner could you retire with NO property taxes?

I think some are seriously missing point of this thread. Being as I was the one who posed the question, it was just hypothetical people, my goodness. And no, taxes aren't taxes. I completely disagree. Multiple good people here have posted sites where you can research differences among states and oh...
by runner540
Sat Sep 02, 2017 9:46 am
Forum: Personal Finance (Not Investing)
Topic: How much sooner could you retire with NO property taxes?
Replies: 116
Views: 7182

Re: How much sooner could you retire with NO property taxes?

I think some are seriously missing point of this thread. Being as I was the one who posed the question, it was just hypothetical people, my goodness. And no, taxes aren't taxes. I completely disagree. Multiple good people here have posted sites where you can research differences among states and oh...
by runner540
Sat Sep 02, 2017 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Purchasing a Health Plan - Not Marketplace
Replies: 46
Views: 2615

Re: Purchasing a Health Plan - Not Marketplace

I'm thinking back when I signed up for my ACA plan in 2016 for the 2017 year. Before I submitted my application I submitted an application on the Tennessee Farm Bureau Health Plan website. This was for an individual plan off marketplace. I was denied coverage due to diabetes and height and weight n...
by runner540
Fri Sep 01, 2017 2:55 pm
Forum: Investing - Theory, News & General
Topic: Differences between UK and US retirement planning
Replies: 24
Views: 2484

Re: Differences between UK and US retirement planning

2. State Pension: The US social security seems to be linked to earnings and far more generous than the UK's state pension. The UK's state pension is a bit of a mess because it is in a transition, but the basic idea is that everyone who has contributed National Insurance for 35 years gets a flat pen...
by runner540
Thu Aug 31, 2017 8:53 am
Forum: Personal Finance (Not Investing)
Topic: Valuation of Private Business in Net Worth Calcuations
Replies: 18
Views: 758

Re: Valuation of Private Business in Net Worth Calcuations

$0. I'd treat it like a windfall if they were to be sold as you would if you received an inheritance or a legal settlement. Right now her holdings are illiquid until the company is sold or until your wife tries to sell her holdings (probably to an insider and possibly at a big discount). +1. Any ot...
by runner540
Thu Aug 31, 2017 8:35 am
Forum: Personal Consumer Issues
Topic: Hurricane Harvey has me rethinking my approach to disaster preparations
Replies: 69
Views: 5724

Re: Hurricane Harvey has me rethinking my approach to disaster preparations

Tornadoes come with a few minutes warning if you are Lucky. We keep food, water, radio, flash lights and lantern by the cellar trap door so we can grab and hunker down immediately. In some "emergency fund" threads, people question the need for cold hard cash at home. Maybe this will help them realiz...
by runner540
Tue Aug 29, 2017 4:28 pm
Forum: Personal Consumer Issues
Topic: Struggling with "Live like a Resident" versus "Keeping up with the Joneses"
Replies: 139
Views: 21882

Re: Struggling with "Live like a Resident" versus "Keeping up with the Joneses"

The only thing that is hard to negotiate down on price is the car. You probably need a nice car. But you can get a 3-4 year old luxury car for 50% MSRP. Suits, watches, other clothing/accessories are easy to spend 10% of what the high rollers are to "look" the part. I have no idea what vacations an...
by runner540
Tue Aug 29, 2017 7:05 am
Forum: Investing - Help with Personal Investments
Topic: Couple in mid-30s looking for financial independence within 10 years
Replies: 34
Views: 6723

Re: Couple in mid-30s looking for financial independence within 10 years

Giving this a bump. 1. No one can tell you - totally depends on health and needs of kids and parents. Where is the $60k of rental income? It looked like the rental properties were generating enough to cover mortgage and expenses but not much cash flow for you. A nit: is your marginal tax rate 33%? 2...
by runner540
Mon Aug 28, 2017 9:24 pm
Forum: Investing - Help with Personal Investments
Topic: Should I be maxing out my 401k AND a roth IRA?
Replies: 8
Views: 1279

Re: Should I be maxing out my 401k AND a roth IRA?

Im 30 and finally starting to invest. I plan on maxing out my 401k every year and was thinking I should also be maxing out a roth IRA too. In my 401k Im mostly buying my age in bonds, but being a little more aggressive (20% bonds, 80% stocks). I was thinking I might as well also max out a roth IRA ...
by runner540
Sun Aug 27, 2017 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: Real estate vs stock market returns: some unbiased numbers
Replies: 40
Views: 5167

Re: Real estate vs stock market returns: some unbiased numbers

I agree with the comments that it's not realistic to compare a diversified stock index with a single, hypothetical rental property. Comparing to REITs or a large portfolio of diversified properties would be a better comparison. If you make the investment, you have to (1) get the neighborhood right (...
by runner540
Sun Aug 27, 2017 5:23 pm
Forum: Investing - Help with Personal Investments
Topic: suggestion on buying our first home
Replies: 31
Views: 2484

Re: suggestion on buying our first home

One other angle on this: consider that you and spouse will be making first impressions in a small community where you hope to live and work for a long time. While your finances are technically nobody's business, people will talk if 2 28 year olds who just finished their doctorate buy an expensive ho...
by runner540
Sun Aug 27, 2017 4:56 pm
Forum: Investing - Theory, News & General
Topic: Dividing retirement savings between taxable and tax-advantaged accounts
Replies: 13
Views: 1517

Re: Dividing retirement savings between taxable and tax-advantaged accounts

Sophie1, your question is a nuanced one, so you may get more helpful answers if you post in the standard format with specific numbers, your age and retirement age. None of the reasons you gave convince me that you should shift savings from tax deferred or Roth, to taxable. Esp. Being a higher income...
by runner540
Sun Aug 27, 2017 8:05 am
Forum: Investing - Help with Personal Investments
Topic: suggestion on buying our first home
Replies: 31
Views: 2484

Re: suggestion on buying our first home

I second the advice to wait until you have a full school year under your belts, learn commutes, weather, where friends live, etc. I also think it would be good for your and spouse to live with the suddenly high income, taxes, etc. Before committing to an expensive home. You two are obviously smart, ...
by runner540
Sat Aug 26, 2017 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off student loan with home equity loan - Can I deduct the home equity loan interest?
Replies: 7
Views: 476

Re: Pay off student loan with home equity loan - Can I deduct the home equity loan interest?

I think swapping secured debt for unsecured debt would be worth the risk. The term would be 5 years. To be clear the current interest rate for the student loan is 3.5% (private loan) and the home equity loan would be about 5.1%. See above: you won't get tax refund for the interest. You total debt a...
by runner540
Sat Aug 26, 2017 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off student loan with home equity loan - Can I deduct the home equity loan interest?
Replies: 7
Views: 476

Re: Pay off student loan with home equity loan - Can I deduct the home equity loan interest?

It's not worth the risk of swapping unsecured debt for secured debt. Edit: I just saw that the Heloc rate would be higher. After the deduction from taxable income, the effective rate might be close to the 3.5% on your student loan. I wouldn't do this. I think you are confusing a deduction from taxab...
by runner540
Thu Aug 24, 2017 7:58 pm
Forum: Investing - Help with Personal Investments
Topic: Company sold: need help investing / crazy family
Replies: 7
Views: 1193

Re: Company sold: need help investing / crazy family

Please, please read the wiki on windfalls with your father. There is no need to rush to invest potential proceeds. https://www.bogleheads.org/wiki/Managing_a_windfall A lot can and does happen between IOI's and closing. No one should be spending that until it actually hits your account after close. ...
by runner540
Wed Aug 23, 2017 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement anxiety- emotionally and financially
Replies: 55
Views: 6685

Re: Retirement anxiety- emotionally and financially

Looks like you and your spouse have done a good job building a very nice nest egg over your careers. Especially if wife keeps working and has benefits, I think you are fine. I second the suggestion to see if you can stick it out until after the sale. If you are an ops manager, they may need you and ...
by runner540
Wed Aug 23, 2017 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Just married - Still contribute to Roth 401k?
Replies: 4
Views: 409

Re: Just married - Still contribute to Roth 401k?

Congrats on the marriage! As far as I know, there are no income limits that would affect someone's eligibility to contribute to a Roth 401k. The income limits you may be thinking of are for Roth IRAs. If you or she contributed to a Roth IRA during the year, you may need to reverse that. I would lean...
by runner540
Wed Aug 23, 2017 5:29 pm
Forum: Investing - Theory, News & General
Topic: Account balances over $250,000
Replies: 11
Views: 2519

Re: Account balances over $250,000

FDIC insurance applies only to deposit accounts at FDIC insured institutions. Does not apply for investment accounts. Brokerage accounts should be covered by SIPC up to $500k if the firm is a member of SIPC (note it's not protection against investment losses, only for if your assets go missing at a ...
by runner540
Wed Aug 23, 2017 7:20 am
Forum: Personal Finance (Not Investing)
Topic: Needed Product: Non-health insurance for children?
Replies: 6
Views: 606

Re: Needed Product: Non-health insurance for children?

So, the Wiki says "In general, you should seek insurance when you have a real risk of loss to be avoided, the ability to pay for insurance, but not the ability to self-insure." One thing that has occurred to me given our upcoming parenthood is the risk of loss associated with possible complications...
by runner540
Tue Aug 22, 2017 4:50 pm
Forum: Investing - Help with Personal Investments
Topic: 33 years old, how am I doing ?
Replies: 54
Views: 8043

Re: 33 years old, how am I doing ?

Financial housekeeping: Do you have adequate disability, life and umbrella insurance? Agree with others that you'd be fine to dial down hours. I suggest looking into a short term medical mission opportunity (doesn't have to be abroad, lots of need in the U. S.). That could help give you some juice a...
by runner540
Tue Aug 22, 2017 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: How much house w/ large nestegg and uncertain business
Replies: 5
Views: 869

Re: How much house w/ large nestegg and uncertain business

I work in a role where much of my compensation is a volatile bonus. I rent, and when I buy, my plan is to buy outright in cash (from saving my bonuses) and make sure that taxes/insurance/maintenance are equal or less than my current rent. (10-15% of salary, excluding bonus). Some will say it's fooli...
by runner540
Mon Aug 21, 2017 9:34 pm
Forum: Investing - Help with Personal Investments
Topic: $1000/month: Mortgage vs. Market vs. Other
Replies: 22
Views: 1746

Re: $1000/month: Mortgage vs. Market vs. Other

I don't know which you should do. I'll just tell you that it sure did feel good when I paid off my house. Owning it free and clear is a wonderful feeling. Paying off the mortgage is probably not the right move financially though. We could pay off our 3.49% mortgage right now as well. It would be gr...