Search found 22 matches

by ReadySetMillionaire
Mon Dec 02, 2019 8:06 am
Forum: Personal Consumer Issues
Topic: Totaled My Paid Off Car; Incredibly Indecisive About Replacement/Insurance Funds
Replies: 24
Views: 2618

Re: Totaled My Paid Off Car; Incredibly Indecisive About Replacement/Insurance Funds

Just couldn't imagine a good lawyer tooling around in a 5 year old CRV. Not sure if my sarcasm detector is malfunctioning at this early hour, but I’ve found that most clients like you being relatable. I worked for an attorney who drove a Porsche and multiple clients have left reviews for her saying...
by ReadySetMillionaire
Sun Dec 01, 2019 6:37 pm
Forum: Personal Consumer Issues
Topic: Totaled My Paid Off Car; Incredibly Indecisive About Replacement/Insurance Funds
Replies: 24
Views: 2618

Re: Totaled My Paid Off Car; Incredibly Indecisive About Replacement/Insurance Funds

Just to put a bow on this, I spent about 3-4 days playing the email game regarding a brand new EX-L. The best I could get was around $27,800. I ended up getting a 2016 EX-L that popped up on my radar this weekend. While most of these were about $20,000, I got this for $18,900. It has 34,000 miles, c...
by ReadySetMillionaire
Thu Nov 28, 2019 7:16 am
Forum: Personal Consumer Issues
Topic: Totaled My Paid Off Car; Incredibly Indecisive About Replacement/Insurance Funds
Replies: 24
Views: 2618

Re: Totaled My Paid Off Car; Incredibly Indecisive About Replacement/Insurance Funds

How many miles do you drive per year? If a very little - buy used. If average or more - buy new and keep it "forever". I would say about 10,000 miles per year, which is why I'm leaning towards used. *** I did the email hustle yesterday regarding new EX-Ls. Looks like the best price I can get around...
by ReadySetMillionaire
Wed Nov 27, 2019 2:57 pm
Forum: Personal Consumer Issues
Topic: Totaled My Paid Off Car; Incredibly Indecisive About Replacement/Insurance Funds
Replies: 24
Views: 2618

Re: Totaled My Paid Off Car; Incredibly Indecisive About Replacement/Insurance Funds

Here's my simple advice for what it's worth. If you have to finance a car, you're paying too much, get something less expensive until you can pay cash. If you can comfortable pay cash, you're doing well and enjoy. I don't have to finance anything; the rate is just so low that I think I want to hold...
by ReadySetMillionaire
Wed Nov 27, 2019 1:27 pm
Forum: Personal Consumer Issues
Topic: Totaled My Paid Off Car; Incredibly Indecisive About Replacement/Insurance Funds
Replies: 24
Views: 2618

Re: Totaled My Paid Off Car; Incredibly Indecisive About Replacement/Insurance Funds

If you have the cash to buy a car, then why not just buy a car? If one of these is not CPO and you want the factory extended warranty, then just buy it. When you get right down to it, all a CPO car is, is a car that meets the manufacturer's age and mileage requirements, then they tack the cost of t...
by ReadySetMillionaire
Wed Nov 27, 2019 1:14 pm
Forum: Personal Consumer Issues
Topic: Totaled My Paid Off Car; Incredibly Indecisive About Replacement/Insurance Funds
Replies: 24
Views: 2618

Totaled My Paid Off Car; Incredibly Indecisive About Replacement/Insurance Funds

I owned a 2014 Honda CR-V EX (second nicest trim) that was paid off. I also heavily researched it before buying it back in 2015. Unfortunately, this got totaled this past weekend when my brother (acting as DD) hit a deer. So now I have to get a new car within a couple weeks. My insurance company is ...
by ReadySetMillionaire
Thu May 02, 2019 6:21 pm
Forum: Personal Investments
Topic: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)
Replies: 43
Views: 3905

Re: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)

Is it an option to take a few months paternity leave when your wife goes back to work? Even if it was unpaid your extra funds could float you through it or cover a reduced income if you could drop to a part time schedule for a while. Or if your wife wanted to go part time for a while (I know some s...
by ReadySetMillionaire
Thu May 02, 2019 3:48 pm
Forum: Personal Investments
Topic: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)
Replies: 43
Views: 3905

Re: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)

What student loans are after the $27,740 at 7.65%? I'd pay off those loans before Roth IRAs. Like I said earlier, these are a bunch of smaller loans at varying rates. Once I pay off the 7.65% whopper, the remaining loans can be put into buckets as follows: Five loans at 6.55% totaling about $60,000...
by ReadySetMillionaire
Thu May 02, 2019 2:52 pm
Forum: Personal Investments
Topic: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)
Replies: 43
Views: 3905

Re: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)

Just an update on this. Most importantly, baby was born happy and healthy in early March. Mom is doing great. Son is a pooping machine. All is good. Financially, I got a decent settlement that just came through, and also had a client pay a LONG overdue invoice of almost $11,000. I took this forum's ...
by ReadySetMillionaire
Thu Jan 10, 2019 1:14 pm
Forum: Personal Investments
Topic: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)
Replies: 43
Views: 3905

Re: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)

Generally speaking your plan makes a lot of sense and seems well thought out. You are clearly a planner. I would echo advice that others have said to relax a bit from the details and acknowledge that your life will change drastically in March. My own experience was that the first 1.5 years were a b...
by ReadySetMillionaire
Wed Jan 09, 2019 6:07 pm
Forum: Personal Investments
Topic: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)
Replies: 43
Views: 3905

Re: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)

I would split it between debt and 401k with more of an emphasis to debt unless you plan on retiring in early 40s where the 401k tax savings would be more significant. I wouldn't be paying extra on mortgage though until I paid off the student loans and potentially was maxing out retirement space. Th...
by ReadySetMillionaire
Wed Jan 09, 2019 2:50 pm
Forum: Personal Investments
Topic: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)
Replies: 43
Views: 3905

Re: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)

This isn't the right way to think about it. You have two options: Option 1: Pay down debt. This returns you 7.65% risk free. Option 2: Invest. If you invest in something risk free, like short-term government bonds, you'll earn ~2% risk free (I didn't look up exact yields). Or you invest in somethin...
by ReadySetMillionaire
Wed Jan 09, 2019 2:20 pm
Forum: Personal Investments
Topic: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)
Replies: 43
Views: 3905

Re: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)

My hesitation in rushing to pay off the loans is that I will lose tax-advantaged space that I can't make up in the future. I can't make sense of this. Are you convincing yourself that it's a good deal to pay 7.5% in order to get 30% (or whatever %) of that back? My understanding of Bogleheads inves...
by ReadySetMillionaire
Wed Jan 09, 2019 1:44 pm
Forum: Personal Investments
Topic: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)
Replies: 43
Views: 3905

Re: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)

I would also invest some of my money in a taxable account instead of all in 401k and IRA. That way when I got to that super flexible age of 40, I could use some money instead of having it all locked up in retirement accounts until 59 1/2 This is a really, really, really good observation, and perhap...
by ReadySetMillionaire
Wed Jan 09, 2019 1:40 pm
Forum: Personal Investments
Topic: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)
Replies: 43
Views: 3905

Re: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)

thats a great start as a solo practitioner. what area of law do you focus on? pay off student loans asap. you cant get a guaranteed return anywhere near it in public markets. Real estate law, employment law, and basically any other civil litigation. My hesitation in rushing to pay off the loans is ...
by ReadySetMillionaire
Wed Jan 09, 2019 12:30 pm
Forum: Personal Investments
Topic: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)
Replies: 43
Views: 3905

Re: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)

Thanks a ton for the comments thus far -- I appreciate the insight and emphasis on things I may have missed. A response to the main concerns: Daycare : We are fortunate that we have this covered by family for the foreseeable future. My wife works 4 days/week. Her parents live 3 miles away, and her d...
by ReadySetMillionaire
Wed Jan 09, 2019 11:50 am
Forum: Personal Investments
Topic: High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)
Replies: 43
Views: 3905

High Income for First Time, Kid on the Way, and I'm Overwhelmed with My Options (Long)

***Update Posted at Bottom of Thread...Read OP and then Scroll Down*** Summary : I project that my wife and I will earn close to $190,000 this year, which is about $90,000 more than we are use to having. But, we have a little kiddo on the way in March, I still have $149,000 in student loan debt, an...
by ReadySetMillionaire
Sun Jul 05, 2015 6:41 am
Forum: Personal Investments
Topic: Girlfriend's Money Manager--Should She Switch to Vanguard?
Replies: 37
Views: 6288

Re: Girlfriend's Money Manager--Should She Switch to Vanguard?

I'm really confused about the last two posts... People (ie future fathers-in-law) can be very weird when talking about money. Talking about money is really the last taboo - they'd just assume talk about their sex lives rather than money. If he's has been "doing well" with this financial adviser/pla...
by ReadySetMillionaire
Sat Jul 04, 2015 1:37 pm
Forum: Personal Investments
Topic: Girlfriend's Money Manager--Should She Switch to Vanguard?
Replies: 37
Views: 6288

Re: Girlfriend's Money Manager--Should She Switch to Vanguard?

I'm really confused about the last two posts...
by ReadySetMillionaire
Sat Jul 04, 2015 8:31 am
Forum: Personal Investments
Topic: Girlfriend's Money Manager--Should She Switch to Vanguard?
Replies: 37
Views: 6288

Re: Girlfriend's Money Manager--Should She Switch to Vanguard?

Vanguard, TD, and Schwab all have good low-cost investment options. She needs to get the heck away from this financial adviser, though. Don't discuss anything with him, he'll just throw out a bunch of fear tactics. Initiate the request with the receiving institution and rip off the scab (this leech...
by ReadySetMillionaire
Sat Jul 04, 2015 8:08 am
Forum: Personal Investments
Topic: Girlfriend's Money Manager--Should She Switch to Vanguard?
Replies: 37
Views: 6288

Re: Girlfriend's Money Manager--Should She Switch to Vanguard?

Thanks all for the responses. You guys were right--she's in American Fund Class A and not Class C. The expense ratios are just .59%, but combined with the front-load fee of 5.75%, that's a lot of money compounded over time in comparison to low-cost index funds. I think my girlfriend is willing to mo...
by ReadySetMillionaire
Thu Jul 02, 2015 7:07 am
Forum: Personal Investments
Topic: Girlfriend's Money Manager--Should She Switch to Vanguard?
Replies: 37
Views: 6288

Girlfriend's Money Manager--Should She Switch to Vanguard?

Greetings all. I just got done reading "The Boglehead's Guide to Investing" and, after John Bogle's forward, had to check out this forum. So, away we go with my first post. My girlfriend and her dad met with their money manager yesterday and invited me along. My girlfriend's dad has used this compan...