Search found 181 matches

by metrunt
Thu Feb 22, 2018 11:00 am
Forum: Personal Finance (Not Investing)
Topic: I'm Cancelling My Home Insurance
Replies: 156
Views: 10783

Re: I'm Cancelling My Home Insurance

You aren't worried about losing 12% of NW but are worried about an insurance premium that is what? <.1% of NW? Depends...what's the risk of losing the house in a year? If it's 1/120 then it's a wash. If it's 1/150 then it's -EV. Generally self-insurance is *always* a better option, if you can affor...
by metrunt
Thu Feb 22, 2018 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Would you pay off this debt?
Replies: 60
Views: 2106

Re: Would you pay off this debt?

Do you expect your investments to return more than 1.75% over the next year? More than 4.125% over the next 5? If so, don't pay off. Providing job flexibility is a red herring. You can always pay the debts off in the future in your want to change. Your reasons for paying off debt are psychological, ...
by metrunt
Tue Feb 20, 2018 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: I'm Cancelling My Home Insurance
Replies: 156
Views: 10783

Re: I'm Cancelling My Home Insurance

The market always recovers on its own. A burned down house never recovers on its own. I think there's a fallacy in this line of thinking. Every day when you don't sell your portfolio you're re-buying it. Money is money. If you lose $120K because of a 12% decline in stocks or because your $120K hous...
by metrunt
Tue Feb 20, 2018 1:48 pm
Forum: Investing - Theory, News & General
Topic: Which book for an 18 year old who is asking about investing?
Replies: 45
Views: 2853

Re: Which book for an 18 year old who is asking about investing?

AerialP wrote:
Fri Feb 16, 2018 8:26 pm
The best eye-opener for me when I was about 23 years old was: "Get A Financial Life: Personal Finance in your Twenties & Thirties" by Beth Kobliner.
I read this at age 20 and it changed my life.
by metrunt
Fri Feb 16, 2018 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: I'm Cancelling My Home Insurance
Replies: 156
Views: 10783

Re: I'm Cancelling My Home Insurance

The market always recovers on its own. A burned down house never recovers on its own. I think there's a fallacy in this line of thinking. Every day when you don't sell your portfolio you're re-buying it. Money is money. If you lose $120K because of a 12% decline in stocks or because your $120K hous...
by metrunt
Thu Feb 08, 2018 10:16 pm
Forum: Personal Consumer Issues
Topic: 24 hr refund policy on airlines
Replies: 5
Views: 649

Re: 24 hr refund policy on airlines

For the record, the 24 hour cancellation only applies to flights bought 7 days or more before your flight.
by metrunt
Sat Feb 03, 2018 7:16 pm
Forum: Personal Consumer Issues
Topic: Is LinkedIn premium worth it?
Replies: 18
Views: 1829

Re: Is LinkedIn premium worth it?

Go try to compete for talent in the Bay Area or NYC or similar without an internal recruiting team and let me know how that works out for you. My business is based in NYC and we do have an internal recruiting team. Not sure what you're trying to say. I'm not saying a company or a candidate doesn't ...
by metrunt
Sat Feb 03, 2018 12:23 pm
Forum: Personal Consumer Issues
Topic: Is LinkedIn premium worth it?
Replies: 18
Views: 1829

Re: Is LinkedIn premium worth it?

People who are constantly looking for a job (I know people like that) and headhunters use LinkedIn Premium. That people who are constantly looking for a job use LinkedIn Premium is a mark against it, right? Otherwise they would have a job they're happy with? I run a business and have 75 employees. ...
by metrunt
Sat Feb 03, 2018 9:27 am
Forum: Personal Consumer Issues
Topic: Is LinkedIn premium worth it?
Replies: 18
Views: 1829

Re: Is LinkedIn premium worth it?

LinkedIn is a scam. Yes, you should have a profile, and yes, you should mine your connections for references, but that's it.

If you're really looking for a job, read Nick Corcodilos https://www.asktheheadhunter.com/basics
by metrunt
Thu Jan 18, 2018 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Neighbor bequest question
Replies: 2
Views: 466

Neighbor bequest question

This is New York State. My mom is in her early 70s. Her neighbor is early 90s. They've been living next door to each other for 45 years. They are also close with another neighbor, Jane. Jane and my mom do tasks for their neighbor who is frail, but mentally acute. The neighbor confided in my mom and ...
by metrunt
Fri Jan 12, 2018 11:36 pm
Forum: Personal Consumer Issues
Topic: Caribbean Recommendations
Replies: 3
Views: 724

Re: Caribbean Recommendations

It's pretty all-inclusive, but not obnoxious. In fact, it's amazing...

http://www.hamanasi.com/

I was there for a week in early November and I can't recommend it enough.
by metrunt
Mon Jan 08, 2018 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: protecting future inheritance
Replies: 31
Views: 2951

Re: protecting future inheritance

In the end, it is your parent's money to do with what they will. If your dad blows it all on some scheme, c'est la vie Respectfully disagree. If they blow it all on a round-the-world cruise, that's none of your business. But if they are repeatedly taken advantage of -- financially and otherwise -- ...
by metrunt
Sun Jan 07, 2018 11:40 pm
Forum: Investing - Help with Personal Investments
Topic: Should I invest all right now? (1.4M, 34 yrs)
Replies: 22
Views: 3864

Re: Should I invest all right now? (1.4M, 34 yrs)

Could you, off the top of your head, explain what the Shiller PE ratio is? No checking google or anything. Just give an off the cuff plain English explanation? If the answer is no, then you shouldn't be making investment decisions based on it. If it's yes, could you have done that a year ago? Cause ...
by metrunt
Sun Jan 07, 2018 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: protecting future inheritance
Replies: 31
Views: 2951

Re: protecting future inheritance

Hi all, sorry if this sounds greedy/evil/morbid but I am wondering what steps I could take to protect my claim to inherit my parents estate when they pass. Here is the situation: I am an only child and my parents are not wealthy but have a decent nest egg and own their home. My wife and I do not ne...
by metrunt
Fri Dec 29, 2017 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: FAFSA with low income but high net worth
Replies: 39
Views: 2489

Re: FAFSA with low income but high net worth

Stuff as much into retirement accounts Pay off your house Put as much as you can in a family owned business Buy new stuff, cars, furniture, home improvement, etc before you apply, not after Some of those CSS Profiles ask about the value of your car, your watch, value of homes less any outstanding m...
by metrunt
Fri Dec 29, 2017 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: FAFSA with low income but high net worth
Replies: 39
Views: 2489

Re: FAFSA with low income but high net worth

Stuff as much into retirement accounts
Pay off your house
Put as much as you can in a family owned business
Buy new stuff, cars, furniture, home improvement, etc before you apply, not after
by metrunt
Sun Dec 17, 2017 12:59 pm
Forum: Investing - Theory, News & General
Topic: Clever use of a "C" Corporation
Replies: 21
Views: 2925

Re: Clever use of a "C" Corporation

You pay corporate tax on C Corp profits whether you take a dividend or not.
by metrunt
Thu Nov 30, 2017 4:54 pm
Forum: Personal Consumer Issues
Topic: housing for in-laws
Replies: 48
Views: 3728

Re: housing for in-laws

You should reconsider #3. After a year, it's seems like it's time for your DW to push her parents out of the nest. They're adults, they'll learn the language if they have to. The little expenses will be far less than the cost (versus value) of a kitchen add-on, buying a house with two kitchens, or b...
by metrunt
Fri Nov 24, 2017 5:12 pm
Forum: Personal Consumer Issues
Topic: The Wolf of Wall Street
Replies: 33
Views: 4768

Re: The Wolf of Wall Street

The second time I watched Wolf of Wall Street, I realized it was actually a comedy, and really funny.

The qualude scene (no, the other one) was hilariously funny.
by metrunt
Thu Nov 02, 2017 10:47 pm
Forum: Investing - Help with Personal Investments
Topic: Help me get back into the market
Replies: 40
Views: 6714

Re: Help me get back into the market

My understanding is that someone who lump summed into S&P 500 in Nov 2016 would have earned 12.8%. Someone who DCA'd, putting in 1/12 each month would have earned 1/2 that.
by metrunt
Sat Oct 28, 2017 4:44 pm
Forum: Investing - Help with Personal Investments
Topic: S&P 500 -- Ten Years Thoughts?
Replies: 45
Views: 5623

Re: S&P 500 -- Ten Years Thoughts?

For a UK based investor, it would be a terrible mistake to be heavily biased against the US market, or in favour of it. Global capitalization weighting is probably best (US c. 55% then). I'd like to hear more about this. Why is the investing strategy of a UK based investor different than a US one? ...
by metrunt
Thu Oct 19, 2017 10:04 am
Forum: Personal Finance (Not Investing)
Topic: S-Corp Solo 401k Salary Deferral (How to)
Replies: 15
Views: 1074

Re: S-Corp Solo 401k Salary Deferral (How to)

You're right! I'm mixing up the two year limit on withdrawing funds from an account with the idea that a I can't terminate the plan in less than two years.

So, I will terminate the SIMPLE effective 12/31/17 ('giving notice' by 11/1) and start the Solo 401(k) effective 1/1/18.

Thanks,
M
by metrunt
Thu Oct 19, 2017 10:03 am
Forum: Investing - Help with Personal Investments
Topic: 401k options for small company
Replies: 8
Views: 668

Re: 401k options for small company

Yeah, that sentence is an odd sentiment. Your money doesn't have to be in a tax-advantaged retirement account to be used for retirement.
by metrunt
Wed Oct 18, 2017 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: S-Corp Solo 401k Salary Deferral (How to)
Replies: 15
Views: 1074

Re: S-Corp Solo 401k Salary Deferral (How to)

A SIMPLE IRA must be the only employer retirement plan for any given calendar year. Can I have both a SIMPLE IRA and a Solo 401K, but not contribute to the SIMPLE? The only thing I could find was: https://www.irs.gov/retirement-plans/simple-ira-plan-faqs-establishing-a-simple-ira-plan "Can I contri...
by metrunt
Wed Oct 18, 2017 9:34 am
Forum: Personal Finance (Not Investing)
Topic: S-Corp Solo 401k Salary Deferral (How to)
Replies: 15
Views: 1074

Re: S-Corp Solo 401k Salary Deferral (How to)

have you contributed to the SEP on the employer side this year? If so and it's a 5305 type SEP(most are)..then you can't contribute to both the SEP and 401k in the same year. I just went through this, and there is a work around. Transfer SEP to Schwab as they have a prototype SEP that will allow yo...
by metrunt
Mon Oct 16, 2017 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Milestones & questions
Replies: 2
Views: 559

Re: 529 Milestones & questions

Who is the owner of the 529s? Your kids or yourself? Generally, I think you want to be in the parent's name and not the kids. It's better if applying for Financial Aid. Sounds like your trying to avoid that, but free money can't hurt. If it's in your name, there's no gift tax. Some people like to ha...
by metrunt
Fri Oct 13, 2017 9:26 am
Forum: Investing - Help with Personal Investments
Topic: In our situation, can my wife open a solo 401K?
Replies: 15
Views: 1018

Re: In our situation, can my wife open a solo 401K?

I think this comment in one of the OP's post is what caused the confusion: That's correct. I really only want to create the solo 401k to avoid the taxes on conversion to a Roth IRA. Thanks michaelj. Yes, that's part of it...also I'm trying to avoid paying the roughly $7,000 ($17,000 in rollover IRA...
by metrunt
Thu Oct 12, 2017 11:36 am
Forum: Investing - Help with Personal Investments
Topic: In our situation, can my wife open a solo 401K?
Replies: 15
Views: 1018

Re: In our situation, can my wife open a solo 401K?

The backdoor roth is a two-step process of making a roth IRA contribution when you are over the income limits. First step is to contribute to a tIRA and then shortly after (some do it the next day), convert the tIRA to a Roth. Because the tIRA has had no time to grow, no taxes are owed unless there...
by metrunt
Thu Oct 12, 2017 11:13 am
Forum: Investing - Help with Personal Investments
Topic: In our situation, can my wife open a solo 401K?
Replies: 15
Views: 1018

Re: In our situation, can my wife open a solo 401K?

I'm trying to avoid paying the roughly $7,000 ($17,000 in rollover IRA, taxed at 33% marginal federal and 9.3% marginal state) in taxes to convert her rollover IRA to Roth. If I'm wrong, I'm happy to be corrected, but I didn't think that's how the backdoor Roth works. I don't think you can roll pre...
by metrunt
Tue Oct 10, 2017 4:42 pm
Forum: Investing - Help with Personal Investments
Topic: In our situation, can my wife open a solo 401K?
Replies: 15
Views: 1018

Re: In our situation, can my wife open a solo 401K?

I believe all you need is a separate EIN number to open a solo 401K. That's pretty easy to get. I'm a little confused about what you're trying to achieve. It sounds like you're not actually interested in contributing income to a solo 401K, is that correct? You just want the option to roll over an ex...
by metrunt
Mon Oct 09, 2017 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: Mint - Issues with showing my account details
Replies: 15
Views: 1751

Re: Mint - Issues with showing my account details

It's easy to deal with the bugs. I had the Vanguard issue too. I simply went to Hide on the right handside of Overview and hid the new duplicate from everything.
by metrunt
Mon Oct 09, 2017 12:17 pm
Forum: Personal Consumer Issues
Topic: MoviePass-Too good to be true, but it's legit.
Replies: 147
Views: 18156

Re: MoviePass-Too good to be true, but it's legit.

Just to clarify, movie theaters are not involved in this. They get paid a full price ticket by Movie Pass every time a Movie Pass user buys a ticket. How will *MoviePass* make money is the question, not theaters.
by metrunt
Fri Oct 06, 2017 7:53 am
Forum: Personal Consumer Issues
Topic: MoviePass-Too good to be true, but it's legit.
Replies: 147
Views: 18156

Re: MoviePass-Too good to be true, but it's legit.

You can also get tickets for other people of your own card (but only 1 per day). So you can buy a ticket and give it to your kid as you drop him off with friends. For example.
by metrunt
Fri Oct 06, 2017 7:51 am
Forum: Investing - Help with Personal Investments
Topic: Trying to convince my sister not to use a financial advisor
Replies: 59
Views: 4924

Re: Trying to convince my sister not to use a financial advisor

It's not robbing. She is giving her consent.

You can't control anyone's poor choices. You can create a rift in your family by trying. You've given your opinion, she's not interested. Let it go.
by metrunt
Thu Oct 05, 2017 11:15 am
Forum: Personal Consumer Issues
Topic: MoviePass-Too good to be true, but it's legit.
Replies: 147
Views: 18156

Re: MoviePass-Too good to be true, but it's legit.

I got my card about a month ago. It works as advertised. There's no 3-D, which I hate, no iMax, which I don't have locally. So, it's perfect. It worked in my home town at the major theaters. It worked in NYC where a ticket (weekday) would've cost me $17. My understanding is that movie theaters don't...
by metrunt
Sun Oct 01, 2017 7:08 am
Forum: Personal Finance (Not Investing)
Topic: loosening the purse strings a bit at 37?
Replies: 30
Views: 4263

Re: loosening the purse strings a bit at 37?

Is your salary entirely from your business? If so, you're underestimating its value (unless maybe you've financed the property at 100%). Small businesses generally value at 3x earnings, so it's worth $750K today. 6% growth seems completely reasonable. If you want to spend more to enjoy your children...
by metrunt
Sat Sep 30, 2017 11:38 pm
Forum: Personal Finance (Not Investing)
Topic: Moving from one paid-for house to another
Replies: 22
Views: 2271

Re: Moving from one paid-for house to another

Do you only eat at the single best restaurant? Drive the one best car? What happens when a new car gets great reviews, the year after you bought one, do you switch? I've never understood the desire to have "the best" cause it's entirely subjective, mercurial, and subject to skew (through marketing, ...
by metrunt
Sat Sep 23, 2017 11:12 am
Forum: Personal Consumer Issues
Topic: What phone carrier?
Replies: 16
Views: 1908

What phone carrier?

I currently have an iPhone SE through a business Verizon plan. I am separating from the company and am looking for an individual cell phone plan. I want to move to a less expensive pre-paid plan. Verizon offers one for $40 a month (3 GB which is fine) but I'd like to know what my alternatives are. I...
by metrunt
Thu Sep 21, 2017 12:07 pm
Forum: Personal Consumer Issues
Topic: Water Service Line Insurance
Replies: 17
Views: 1481

Water Service Line Insurance

Based on a letter I received from Service Line Warranties of America, my city does not pay for repairs to water lines that run from the public utility connection to my home. SLWA is offering to insure any repairs to the line for $4.50 a month. Up to $4,000 per incident. I am very much inclined to se...
by metrunt
Wed Sep 20, 2017 9:59 am
Forum: Personal Consumer Issues
Topic: Virtual Offices in NYC (Earth Class Mail?)
Replies: 3
Views: 635

Re: Virtual Offices in NYC (Earth Class Mail?)

Thanks for the thoughts! Yes, a NYC address is important. The cachet of NYC is important to my customers. Even saying, "it's a mailing center", won't fly. The cash flow in my company is not stellar, so waiting a week to deposit won't work. Cost isn't a huge concern. $50 to $200 month. Stability is i...
by metrunt
Tue Sep 19, 2017 6:06 pm
Forum: Personal Consumer Issues
Topic: Virtual Offices in NYC (Earth Class Mail?)
Replies: 3
Views: 635

Virtual Offices in NYC (Earth Class Mail?)

I own a small business that is based in New York. I have been using my apartment as my business address, receiving mail and meeting the occasional client. I am planning on travelling (mostly domestic, but some international) substantially over the next couple years, while continuing to run my compan...
by metrunt
Wed Sep 13, 2017 7:46 pm
Forum: Investing - Help with Personal Investments
Topic: Self employed income- dump all of it into solo 401k or just after deducting expenses
Replies: 8
Views: 455

Re: Self employed income- dump all of it into solo 401k or just after deducting expenses

Good question.

I believe you also get to contribute 25% of compensation direct from your business to your plan as an "employer contribution". I think you get to avoid FICA on that.

I don't know if this is a good idea, but keep that in mind.
by metrunt
Thu Aug 31, 2017 10:54 am
Forum: Personal Finance (Not Investing)
Topic: How do you know you're not being scammed when buying a house?
Replies: 33
Views: 3636

Re: How do you know you're not being scammed when buying a house?

How do you know everyone on this thread isn't in on the scam too??
LiterallyIronic wrote:
Tue Aug 29, 2017 8:41 pm
It's not Wells Fargo that I distrust.
You're worried about a stranger selling you a house they don't own but not a bank that has a track record of screwing over account holders.
by metrunt
Wed Aug 30, 2017 10:07 am
Forum: Personal Consumer Issues
Topic: Vehicle Toubleshooting (multiple issues)
Replies: 61
Views: 3621

Re: Vehicle Toubleshooting (multiple issues)

Sparks are normal. Attaching both blacks is fine, but technically a grounded piece of metal away from the battery is better, but how do you know if the metal is grounded? It's like you walked into your house, flipped the light switch, the light didn't come on, so you started dismantling the light sw...
by metrunt
Tue Aug 29, 2017 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Should we let MIL pay off our mortgage?
Replies: 69
Views: 9756

Re: Should we let MIL pay off our mortgage?

Your MIL is financially free. With $2.4M, at least, in assets, living on $5,000 a year, she doesn't need to diversify. She should put more money into safe investments and gift each of you 11K a year. You're asking fort the disadvantages are. Others have already mentioned being a landlord and being i...
by metrunt
Fri Aug 25, 2017 12:50 pm
Forum: Personal Consumer Issues
Topic: Experience finding gas pump card skimmer?
Replies: 46
Views: 4780

Re: Experience finding gas pump card skimmer?

If your debit card number is skimmed and you report fraudulent activity within two months of receiving your statement, you have $0 liability.
by metrunt
Fri Aug 18, 2017 11:34 am
Forum: Personal Finance (Not Investing)
Topic: NYC real estate question
Replies: 17
Views: 1934

Re: NYC real estate question

From a financial perspective, I don't think you're going to see the cash flow increase you think you are. Say you're earning 5% on your investments. On $1.7M, that's $7,100 a month. By buying instead of renting, you'll see a *decrease* of $3,600 in cash flow. This ignores appreciation but also maint...
by metrunt
Thu Aug 17, 2017 11:51 am
Forum: Personal Consumer Issues
Topic: Best place to find jobs and how to know the pay/benefits before applying?
Replies: 22
Views: 1821

Re: Best place to find jobs and how to know the pay/benefits before applying?

Sending out resumes to dozens of employers is terrible advice. Instead, find companies you want to work at and jobs you want by using personal referrals. Connect with other human beings, ideally family, friends, and colleagues. Discuss your goals. Tell them what you're looking for. Ask them for advi...
by metrunt
Thu Aug 17, 2017 11:30 am
Forum: Personal Consumer Issues
Topic: Is it worth it? [demanding jobs vs time with family]
Replies: 182
Views: 13849

Re: Is it worth it? [demanding jobs vs time with family]

I'm in my early 40s with three children between 5 and 11. I don't work as much as I could. I don't make as much money as I could if I worked more. And I do this deliberately to be more available for my kids. This will extend my working years and I'm 100% ok with that. I figure it's better to spend t...