Search found 94 matches

by somekevinguy
Thu May 31, 2018 2:57 am
Forum: Personal Consumer Issues
Topic: Splurging on the NBA finals
Replies: 56
Views: 5039

Re: Splurging on the NBA finals

Just inspired me to splurge on game 1 tickets!
by somekevinguy
Wed May 16, 2018 12:13 am
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

Our salaries are nowhere near that. We are definitely not complaining- just looking for insight into how others have handled the situation. I realize our great circumstances make it easy to be like “quit your complaining” but honestly that probably applies to anyone posting on this forum just to di...
by somekevinguy
Wed May 16, 2018 12:07 am
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

Yes. The home we rent (which is quite nice) has a price/annual rent ratio of over 38 (being conservative)- more realistically about 45. That is the benefit of these home owners who literally pay property taxes of only a few thousand dollars a year due to prop 13 whereas if I were to buy the same ho...
by somekevinguy
Tue May 15, 2018 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

I'm not sure if I'm understanding the facts correctly (so please correct me if I'm mistaken) - you can get a 30 year loan at 0% but only one time? This seems strange but, if it's the case, it seems like quite the deal and I would want to take maximum advantage of it. I'd put as little down as I pos...
by somekevinguy
Tue May 15, 2018 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

I'm not sure if I'm understanding the facts correctly (so please correct me if I'm mistaken) - you can get a 30 year loan at 0% but only one time? This seems strange but, if it's the case, it seems like quite the deal and I would want to take maximum advantage of it. I'd put as little down as I pos...
by somekevinguy
Tue May 15, 2018 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

I'm not sure if I'm understanding the facts correctly (so please correct me if I'm mistaken) - you can get a 30 year loan at 0% but only one time? This seems strange but, if it's the case, it seems like quite the deal and I would want to take maximum advantage of it. I'd put as little down as I pos...
by somekevinguy
Tue May 15, 2018 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

You might get lucky like we did and experience a steady rise in the market. I'll acknowledge that anything is possible, but I just don't see how there's much appreciation potential left. The median house is already priced for two working professionals with extremely high incomes, no job loss, rock ...
by somekevinguy
Tue May 15, 2018 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

[ I'll acknowledge that anything is possible, but I just don't see how there's much appreciation potential left. That's what we said...twice. We were wrong both times. This whole thread is starting to sound more like a tantrum about "being a two-physician family" and not being able to buy the house...
by somekevinguy
Tue May 15, 2018 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

Unfortunately your finances are pretty middle of the road right now which means your predicaments are shared by non physicians as well in the area. We’re a physician and techie household too. In my opinion, medicine people financials are way behind techie financials at the same age. We have debt, l...
by somekevinguy
Tue May 15, 2018 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

It seems to me this is also setting up your kids for hard choices later. They can stay in an extremely high HCOL where they grew up with family and friends or move to a lower COL. I’ve noticed that young adults in high HCOLs seem to put off marriage and having kids until later given student loan de...
by somekevinguy
Tue May 15, 2018 10:42 am
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

OP, as others have said, you CAN afford to buy on the SF Peninsula. Perception is reality, take a look at smaller homes to get you started. Born and raised here we can say from experience that it has never been easy going back to our first home purchase in 1979. A PLUS for you is that your income i...
by somekevinguy
Mon May 14, 2018 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

kacang wrote:
Mon May 14, 2018 7:38 pm
Have you considered Foster City? Good schools, 3/2 and 4/2 between 1-2m, or townhomes for slightly under 1m.
Thanks but too far for dw’s commute (south San Jose)
by somekevinguy
Mon May 14, 2018 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

what did you do for housing? Been waiting (in "company" housing), a couple of years now, with dawning awareness that we may not be able to afford waiting Godot out; but meanwhile accumulating, observing what changes and what doesn't in the department, getting older. I have not seen any evidence of ...
by somekevinguy
Mon May 14, 2018 5:43 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

ofckrupke wrote:
Mon May 14, 2018 5:41 pm
somekevinguy wrote:
Mon May 14, 2018 5:37 pm
Our preapproval is for a ridiculous amount that would literally take up 80+% of our take-home pay on housing.
Who did that? FSH?
FSH + a bank from their approved lender list.

Ok- so clearly you have some insights- what did you do for housing?
by somekevinguy
Mon May 14, 2018 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

Rent or bought small and they kept saving cash. Yeah, that is what we're currently doing. I suppose it is a drop in the bucket and a good problem to have, but at some point, my AA becomes tilted significantly towards cash/cash equivalents as I hoard cash to prepare for an eventual purchase, despite...
by somekevinguy
Mon May 14, 2018 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

Not sure what "bubble" people are talking about. High house prices don't signify a bubble. There's a chronic supply/demand problem in the area, not a bubble. The typical approach in the Bay Area for people in stable high-paying jobs is to stretch to buy a place where they would be ok in the long ru...
by somekevinguy
Mon May 14, 2018 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

I know quite a few couples in your situation. It is quite a tough pill to swallow because anywhere else except the Bay Area, you would be the king and queen of the area living in nicest mansion in the most prestigious area. My advice is hold off on your *dream house* and buy something you can easil...
by somekevinguy
Mon May 14, 2018 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

I know quite a few couples in your situation. It is quite a tough pill to swallow because anywhere else except the Bay Area, you would be the king and queen of the area living in nicest mansion in the most prestigious area. My advice is hold off on your *dream house* and buy something you can easil...
by somekevinguy
Mon May 14, 2018 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

I know quite a few couples in your situation. It is quite a tough pill to swallow because anywhere else except the Bay Area, you would be the king and queen of the area living in nicest mansion in the most prestigious area. My advice is hold off on your *dream house* and buy something you can easil...
by somekevinguy
Mon May 14, 2018 10:32 am
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

Most of my tech guys who are in bay area for past 15+ years make less than 200 single and 300 when both working.. Something is really up there.. The job market and salaries just didn't double since 2013.. But house prices did. Yeah- I am not sure what it is, making it more difficult to make decisio...
by somekevinguy
Sun May 13, 2018 10:58 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

Understood- we have two young kids so schools also come into play. It seems that as 2 high income professionals who have delayed gratification for 10+year’s post-college and save 40+% of gross income we’d be able to afford a not that fancy 4/2 2000 sq ft home but perhaps not...? Keep in mind that, ...
by somekevinguy
Sun May 13, 2018 10:54 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

I read this post in disbelief. I live in Texas. We are inundated with California transplant physicians who realize, after several years, that they were playing a loser's game. Your work will continued to be devalued as a physician, and at the rate you are going, the finish line will continue to get...
by somekevinguy
Sun May 13, 2018 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

We’ve apparently entered some sort of vortex where things are very different. Perhaps it’s a bubble that will pop. I don’t normally bet on such things but, when two physicians can’t afford a home in the area, something absurd is happening. I’d save money and be ready to pounce when the right opport...
by somekevinguy
Sun May 13, 2018 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

Bay Area Peninsula resident and property owner here. Have you thought about buying your parents house and having them "right-size" to a smaller house? They will want to take advantage of prop 60 (transfer of property tax base) but if they are in a big house maybe it's time make life easier for them...
by somekevinguy
Sun May 13, 2018 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

If you are committed to staying here long term, I would not rent and "wait for the crash." I don't think the strategy of waiting for a crash is any more applicable to housing than it is to the stock market, for the same reasons -- what if the crash never comes? And how will you know when the crash ...
by somekevinguy
Sun May 13, 2018 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

OP, do you already have jobs in the Bay Area? You said you wanted to be close to your parents which is fine. Have you considered living and practicing in Sacramento? Sacramento is 81 miles from the Bay Area - not that close, but not that far. Just about right IMO. We almost relocated to Sacramento....
by somekevinguy
Sun May 13, 2018 11:08 am
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

Rent. Wait for the next crash. Swoop in. Definitely a safe option for physicians, as your jobs are quite recession proof. Waiting can be painful though. You say the parents are elderly and frail, but if they can give you daily child care they must be in reasonably good shape. Seems they are holding...
by somekevinguy
Sun May 13, 2018 9:41 am
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

Daunting thought: to fund all those 2M+ all-cash offers, think about how much money had to be earned. With a nearly 50% marginal rate, between federal and state taxes, they'd have to make $4M to come up with $2M in cash. That's assuming it's an ordinary-income vesting of a lot of RSUs or options. I...
by somekevinguy
Sat May 12, 2018 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

There are parts of the country where a dual physician household will mean living in the best neighborhoods, but unfortunately the Bay Area isn’t one of them. You might have to look at townhomes or condos or living further out. I see lots of high income households taking on expensive homes where I l...
by somekevinguy
Sat May 12, 2018 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

Those interest free loans while amazing perks are handcuffs that will limit your flexibility as you move through your life cycle because from my experience the minute you change jobs, you owe them a bunch of money that you might not have. These are the type of perks that are contributing to the loc...
by somekevinguy
Sat May 12, 2018 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

There are plenty of starter homes on the peninsula for 1.5M - you can do that quite easily. You aren't going to get your dream home when you are first starting out. We've been prosperous in the medical device industry and then as entrepreneurs and probably had similar income at one time. We definit...
by somekevinguy
Sat May 12, 2018 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

Rent. Wait for the next crash. Swoop in. ' Definitely a possibility. Is tough when historically, bay area housing (at least in the areas we are looking) has never really one down but just flattened out, even in 2008-2009 etc or with the dot.com bust. However, I imagine at some point it becomes unsu...
by somekevinguy
Sat May 12, 2018 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

We were in your shoes and rented for the 13+ years before moving recently to another city that while stil HCOL much less than bay area. There is really no financial incentive to buy in the Bay Area at least not after this run-up. This is counter to the mantra “buying a house in bay area was the bes...
by somekevinguy
Sat May 12, 2018 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

Not a physician, but have lived in the Bay Area since 1989. There's no magic here. You just have to start somewhere. When we bought our first home in 1992 for 200K, we thought THAT was expensive. When we bought the next home for 525K in 2000, we thought that price was ridiculous. Well...you've seen...
by somekevinguy
Sat May 12, 2018 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

Don’t take this the wrong way, but if neither of you are in tech, I would strongly consider moving somewhere else. You should be able to earn comparable money in areas with much lower cost of living, where you could actually afford a house, a really nice one. I’m a software engineer married to an a...
by somekevinguy
Sat May 12, 2018 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

Don’t take this the wrong way, but if neither of you are in tech, I would strongly consider moving somewhere else. You should be able to earn comparable money in areas with much lower cost of living, where you could actually afford a house, a really nice one. I’m a software engineer married to an a...
by somekevinguy
Sat May 12, 2018 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

Re: New(ish) attending physicians in the Bay Area: Housing

Not a physician, but I used to live in the Bay Area. A lot depends on where you have to work and how flexible your hours are so you can take advantage of traffic patterns. I have no idea how that will work for you two. Traffic management in the Bay Area very much affects what you can afford. I only...
by somekevinguy
Sat May 12, 2018 11:14 am
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12431

New(ish) attending physicians in the Bay Area: Housing

DW and I are both physicians, <5 years out from training. As a result of WCI and following BH philosophy, we're on solid financial ground with no debts and about 500K available for a down payment on a house. That being said, the housing market here in the bay area is crazy with a 4br 2ba 2000 sq foo...
by somekevinguy
Wed Apr 25, 2018 3:51 pm
Forum: Personal Consumer Issues
Topic: Ever ship/transport a car?
Replies: 14
Views: 1057

Re: Ever ship/transport a car?

Shipped 2 vehicles across the country as the employer was paying for it. Used Montway and were pleased (neither were particularly fancy cars but nonetheless, decent new-ish vehicles). Both were on an open trailer and arrived in good condition. I think I used shipacardirect go get various quotes at f...
by somekevinguy
Sat Mar 03, 2018 3:00 am
Forum: Personal Consumer Issues
Topic: Thinking of getting an Apple Watch
Replies: 82
Views: 8424

Re: Thinking of getting an Apple Watch

Just thought I'd offer a contrasting opinion. Bought a series 2 and returned it about a week later. Main thing for me is that I pretty much have my phone with me all the time and don't find it an inconvenience to take it out of my pocket. GPS I have my phone up on a car mount. Text messages I genera...
by somekevinguy
Fri Feb 02, 2018 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Would love your advice re: housing benefit
Replies: 1
Views: 234

Would love your advice re: housing benefit

My employer provides a housing benefit: 1) 150K taxable salary supplement spread over 9 years 2) 250K deferred interest loan (no monthly payments with max term 30 years). At the time of payment, the deferred interest is based on the appreciation in the home (ie if the home appreciated 50%, then you ...
by somekevinguy
Fri Jan 26, 2018 11:38 am
Forum: Investing - Help with Personal Investments
Topic: Buying a home - Financial Benefits? HCOL
Replies: 75
Views: 4131

Re: Buying a home - Financial Benefits? HCOL

William Bernstein says in The Investor's Manifesto that the fair price of a home is 12.5 years of rent, and to never pay more than 15 years of rent on a home. Where I live, I can buy a home for about 12.5 years of renting the same sort of home so buying a home isn't a bad deal per this metric. In y...
by somekevinguy
Thu Jan 18, 2018 8:09 pm
Forum: Investing - Theory, News & General
Topic: $399 - New Course - Fire your Financial Advisor - By WhiteCoat Investor - Anyone?
Replies: 121
Views: 8295

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

Normally, I would pay little or no attention to such a course. However, Jim Dahle, editor of the (excellent) White Coat Investor website, is a Boglehead whom I have met and highly respect. Anything, he puts out is certain to be top quality. I am not surprised that Jim offers a money-back guarantee ...
by somekevinguy
Thu Jan 18, 2018 12:04 pm
Forum: Investing - Theory, News & General
Topic: $399 - New Course - Fire your Financial Advisor - By WhiteCoat Investor - Anyone?
Replies: 121
Views: 8295

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

Not sure why WCI is taking any heat from forum members here. He is very transparent about his conflicts of interest and the progress of his WCI website, newsletter and blog, or as he calls it the "White Coat Investor Empire!" No one was slamming Rick Ferri or Bill Bernstein for offering investment ...
by somekevinguy
Wed Jan 03, 2018 2:31 pm
Forum: Investing - Theory, News & General
Topic: Vanguard takes 2 days to settle tIRA funding?
Replies: 22
Views: 1647

Re: Vanguard takes 2 days to settle tIRA funding?

same experience. It also won't let you do the conversion until the money settles (close of 1/3 so 1/4 conversion).
by somekevinguy
Tue Jan 02, 2018 12:08 pm
Forum: Investing - Help with Personal Investments
Topic: Beginner Tax Loss Harvesting Question
Replies: 4
Views: 685

Re: Beginner Tax Loss Harvesting Question

Thanks Livesoft and retiredjg! much appreciated.
by somekevinguy
Tue Jan 02, 2018 1:17 am
Forum: Investing - Help with Personal Investments
Topic: Beginner Tax Loss Harvesting Question
Replies: 4
Views: 685

Beginner Tax Loss Harvesting Question

Hi, Finally am starting some taxable investing and just had a quick question re: tax loss harvesting and wash sales. I hold Vanguard Total International Index (VTIAX) in multiple tax advantaged accounts (Roth, 403b, 457 etc). My plan was to use VFWAX (based on FTSE all world index ex US) in the taxa...
by somekevinguy
Mon Dec 25, 2017 12:35 am
Forum: Investing - Theory, News & General
Topic: Implications of tax bill on residential real estate (house prices)
Replies: 62
Views: 6329

Re: Implications of tax bill on residential real estate (house prices)

Dual physician family in the VHCOL Bay Area and am considering buying a home- that being said, it seems the new legislation significantly increases the costs given the combination of extremely expensive homes (i.e 2M) leading to significant mortgage interest now becoming nondeductible, significant p...
by somekevinguy
Tue Dec 12, 2017 12:24 am
Forum: Investing - Help with Personal Investments
Topic: 1099 income - enough to open a solo 401k?
Replies: 6
Views: 833

Re: 1099 income - enough to open a solo 401k?

for us primary salaried W2 folks, I've heard it makes sense to open a solo 401k so that if we ever change jobs, we can roll our 403b or 401k's into the solo 401k (ie at Fidelity) and keep our IRA space clear for backdoor Roth contributions. There are some other supposed advantages too but I'd be int...
by somekevinguy
Sun Dec 03, 2017 12:09 am
Forum: Investing - Help with Personal Investments
Topic: General advice for a new attending physician
Replies: 18
Views: 2520

Re: General advice for a new attending physician

I think like most things, this will come down to personal values. That being said, I can give you my take. I think given your excellent financial habits, I would probably take money largely out of the equation. You will likely have enough either way. For me, I think you'll be spending a fair amount ...