Search found 3605 matches

by michaeljc70
Tue Oct 23, 2018 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: When Will Attaining Millionaire Status Be Obsolete?
Replies: 77
Views: 3610

Re: When Will Attaining Millionaire Status Be Obsolete?

I'd like to see what your budget would look like on 26k a year. I'll even assume that's tax free. There are people that make that in a year.......before taxes. Almost 1/5 of the households in the US. Yes, and they are living just above the poverty line...that's the whole point of the thread. 1MM is...
by michaeljc70
Tue Oct 23, 2018 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: When Will Attaining Millionaire Status Be Obsolete?
Replies: 77
Views: 3610

Re: When Will Attaining Millionaire Status Be Obsolete?

Here I am. I'm 34, and if someone handed me $1 million, I'd retire right now. $143,000 of that would pay off my mortgage, leaving me with $857,000. Even at 3% SWR, that would leave me with $25,710 per year and I'm not sure what I'd do with all that money. Over $2,000/month with no mortgage to pay? ...
by michaeljc70
Tue Oct 23, 2018 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: When Will Attaining Millionaire Status Be Obsolete?
Replies: 77
Views: 3610

Re: When Will Attaining Millionaire Status Be Obsolete?

Here I am. I'm 34, and if someone handed me $1 million, I'd retire right now. $143,000 of that would pay off my mortgage, leaving me with $857,000. Even at 3% SWR, that would leave me with $25,710 per year and I'm not sure what I'd do with all that money. Over $2,000/month with no mortgage to pay? ...
by michaeljc70
Tue Oct 23, 2018 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: When Will Attaining Millionaire Status Be Obsolete?
Replies: 77
Views: 3610

Re: When Will Attaining Millionaire Status Be Obsolete?

From the last stats I saw, I believe if you are a millionaire that puts you in the top 10% of households. Using the 4% SWR, you can withdraw $40k (assuming you are ~60-65), so hardly rich if that is your only source of income. If you add on SS and you are a couple that both get close to the max, the...
by michaeljc70
Tue Oct 23, 2018 6:13 pm
Forum: Investing - Theory, News & General
Topic: What are you up YTD? [Year To Date]
Replies: 1979
Views: 367845

Re: What are you up YTD? [Year To Date]

.15%. I was surprised it wasn't negative. International was the biggest negative hit.
by michaeljc70
Tue Oct 23, 2018 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Determining net worth and spending
Replies: 10
Views: 896

Re: Determining net worth and spending

I suppose you could, but I would base the VPW on my stock/fixed income investment portfolio. Then I would add to that the net cash flow from the real estate. I said cash flow because I wouldn't want to count things like depreciation that aren't cash expenses. So are you in effect saying spend the n...
by michaeljc70
Tue Oct 23, 2018 10:38 am
Forum: Investing - Help with Personal Investments
Topic: switch bonds to money mkt?
Replies: 8
Views: 998

Re: switch bonds to money mkt?

Compare what US bond funds returned around the last crisis compared to money market accounts. MMs have no principal upside. Of course, they generally have no principal downside either.
by michaeljc70
Tue Oct 23, 2018 10:09 am
Forum: Personal Consumer Issues
Topic: PSA: Don't buy a big house
Replies: 143
Views: 11433

Re: PSA: Don't buy a big house

Lots of replies touting the life expectancy of LED bulbs, are you guys working for these companies that manufacture them? My new home was finished a year and a half ago. I've already had to replace some burned out recessed LED can lights. I got a laugh when the new ones showed up and packaging clai...
by michaeljc70
Tue Oct 23, 2018 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Determining net worth and spending
Replies: 10
Views: 896

Re: Determining net worth and spending

I suppose you could, but I would base the VPW on my stock/fixed income investment portfolio. Then I would add to that the net cash flow from the real estate. I said cash flow because I wouldn't want to count things like depreciation that aren't cash expenses.
by michaeljc70
Tue Oct 23, 2018 9:51 am
Forum: Personal Consumer Issues
Topic: Denied health (travel) insurance claim
Replies: 5
Views: 576

Re: Denied health (travel) insurance claim

In most policies I've seen, you don't have to see a doctor for it to be a pre-existing condition. Most include language that says something like "treated for a condition or a condition that a reasonable person would have sought treatment for." In other words, if you had ignored seeking treatment it ...
by michaeljc70
Tue Oct 23, 2018 9:37 am
Forum: Personal Consumer Issues
Topic: Quitting w/o notice
Replies: 132
Views: 7905

Re: Quitting w/o notice

I wouldn't want to have nothing on my resume for a year (or however long you take off) and also have no references/recommendations from that last job. At the last place I worked, an acquisition was announced where most people knew they would be out of a job (acquiring company HQ in another state). P...
by michaeljc70
Tue Oct 23, 2018 9:28 am
Forum: Investing - Theory, News & General
Topic: Debunking Bonds in Taxable
Replies: 46
Views: 4009

Re: Debunking Bonds in Taxable

One scenario I can envision where bonds in taxable is beneficial is: -You retire early (before 59 1/2) -The market is in a downturn so you don't want to sell stocks from taxable accounts -You can't access bonds without special withdrawals from IRAs (like 72t) Why would you not want to sell stocks f...
by michaeljc70
Mon Oct 22, 2018 10:30 am
Forum: Personal Consumer Issues
Topic: PSA: Don't buy a big house
Replies: 143
Views: 11433

Re: PSA: Don't buy a big house

I thought, as others have mentioned, this was going to be about heating bills, electric bills, property taxes, cleaning, maintenance, etc. LED light bulbs seem like they would mitigate this problem. How often do you change a fan? High ceilings and a house being "big" are two different things to me.
by michaeljc70
Sun Oct 21, 2018 1:36 pm
Forum: Personal Consumer Issues
Topic: Why Purchase an Automobile using Premium Gasoline?
Replies: 68
Views: 2875

Re: Why Purchase an Automobile using Premium Gasoline?

It is something I consider along with the other ongoing costs of the vehicle. If everything was equal between two cars except one took premium and one took regular, that would sway me. That is unlikely to happen though. Especially for me since I don't like blowing money on expensive cars.
by michaeljc70
Sat Oct 20, 2018 11:30 am
Forum: Personal Finance (Not Investing)
Topic: If I'm convinced to stop making extra mortgage payments, should I recast?
Replies: 15
Views: 1996

Re: If I'm convinced to stop making extra mortgage payments, should I recast?

One thing that annoyed me was immediately after I recast my mortgage servicing company sold/transferred my mortgage to another company. I think this was intentional on their part because the new company does not offer recast as a service and is constantly spamming me to “unlock” my homes value by o...
by michaeljc70
Fri Oct 19, 2018 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 and W2 from the same employer
Replies: 11
Views: 987

Re: 1099 and W2 from the same employer

A company=corporation to me. This is a false equivalency that you don't get to make up as you go along. A corporation is a company, but a company most definitely does not have to be a corporation. A company is any business entity that offers products and/or services. This includes a sole proprietor...
by michaeljc70
Fri Oct 19, 2018 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: If I'm convinced to stop making extra mortgage payments, should I recast?
Replies: 15
Views: 1996

Re: If I'm convinced to stop making extra mortgage payments, should I recast?

I largely think it is a wash. Are you saying that in the next 15 years (based on the 3 year old child) you don't think you can save enough for college as it is? If that is the case, I would recast. Otherwise, I'd stop prepaying the mortgage and put money where it is accessible for college (assuming ...
by michaeljc70
Fri Oct 19, 2018 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 and W2 from the same employer
Replies: 11
Views: 987

Re: 1099 and W2 from the same employer

There is more work with having a company. You need to incorporate. You need to file state (unless in a few states) and Federal returns. If you just get a 1099 in your name, it goes on your personal taxes. If you have federal, state and local taxable business income. You need to file tax returns reg...
by michaeljc70
Fri Oct 19, 2018 6:56 pm
Forum: Personal Consumer Issues
Topic: Warm weather getaway in December
Replies: 17
Views: 1523

Re: Warm weather getaway in December

The only places in the continental US warm (I guess that is subjective, but I am taking it to mean beach) at the end of December would be Southern Florida. The beach is even iffy in Miami at the end of December. If you mean any part of the US, Hawaii, Puerto Rico and the US Virgin Islands are warm. ...
by michaeljc70
Fri Oct 19, 2018 6:16 pm
Forum: Personal Consumer Issues
Topic: How important is registered mail for important documents?
Replies: 28
Views: 1524

Re: How important is registered mail for important documents?

All the big delivery companies make mistakes. I wouldn't base what I do on a few anecdotes. I've had issues with UPS, Fedex and USPS over the years. That’s pretty much my point and why I wouldn’t ”splurge for FedEx” “if it is that important”. Businesses that send important documents tend to use Fed...
by michaeljc70
Fri Oct 19, 2018 3:36 pm
Forum: Personal Consumer Issues
Topic: How important is registered mail for important documents?
Replies: 28
Views: 1524

Re: How important is registered mail for important documents?

I usually send important things by "certified" mail - with return receipt. Then, I get the card back with a signature of someone receiving it. Less costly than registered. That is what I did with my recent COBRA paperwork. It isn’t difficult to replace or valuable, but I want to make sure that it g...
by michaeljc70
Fri Oct 19, 2018 3:03 pm
Forum: Investing - Theory, News & General
Topic: How much of a dip do you want before you TLH?
Replies: 27
Views: 2021

Re: How much of a dip do you want before you TLH?

A lot of Bogleheads want Roths because you are paying the tax now rather than in the future. However, isn't TLH doing the opposite of this? Obviously, these are capital gains/losses and not ordinary income. I am not saying TLH cannot be beneficial, but doesn't it somewhat depend on your current tax...
by michaeljc70
Fri Oct 19, 2018 2:44 pm
Forum: Investing - Theory, News & General
Topic: How much of a dip do you want before you TLH?
Replies: 27
Views: 2021

Re: How much of a dip do you want before you TLH?

A lot of Bogleheads want Roths because you are paying the tax now rather than in the future. However, isn't TLH doing the opposite of this? Obviously, these are capital gains/losses and not ordinary income. I am not saying TLH cannot be beneficial, but doesn't it somewhat depend on your current tax ...
by michaeljc70
Fri Oct 19, 2018 1:39 pm
Forum: Investing - Theory, News & General
Topic: How much of a dip do you want before you TLH?
Replies: 27
Views: 2021

Re: How much of a dip do you want before you TLH?

I'm surprised how much talk there is of TLH after a 9 year bull market. The market is only down a few percent. International isn't in any 9 year bull market, that's for sure. People get things from older family members who've passed every day and invest it so anything put in international the past ...
by michaeljc70
Fri Oct 19, 2018 12:21 pm
Forum: Personal Consumer Issues
Topic: How important is registered mail for important documents?
Replies: 28
Views: 1524

Re: How important is registered mail for important documents?

As others said, registered doesn't mean it can't be lost or stolen. Attorney's send things that way in order to have proof of delivery. Not to protect the document.

If it is that important, I might splurge for FedEx.
by michaeljc70
Fri Oct 19, 2018 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Approach to rescinding a job acceptance
Replies: 50
Views: 3952

Re: Approach to rescinding a job acceptance

This is a question as to advice on the best best approach to rescinding an acceptance of a job offer. I know there is a lot of debate on taking a counter offer and whether or not one should rescind an acceptance of a new job. This is not that thread. I have decided to accept a counter offer to rema...
by michaeljc70
Fri Oct 19, 2018 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Approach to rescinding a job acceptance
Replies: 50
Views: 3952

Re: Approach to rescinding a job acceptance

There is a chance that a bridge will be burned either way. If OP didn't accept the counteroffer, that bridge to the current company could be gone. If he accepted the counter (which he did), the bridge to the new company could be gone. However, you never know. Big companies have people do this all th...
by michaeljc70
Fri Oct 19, 2018 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Approach to rescinding a job acceptance
Replies: 50
Views: 3952

Re: Approach to rescinding a job acceptance

I would explain that you received a counteroffer after you accepted their offer and decided it was better for you to stay at your current company. I would apologize and thank them for the opportunity. I would do this ASAP. I would not worry about doing it in person unless you previously knew the per...
by michaeljc70
Fri Oct 19, 2018 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Approach to rescinding a job acceptance
Replies: 50
Views: 3952

Re: Approach to rescinding a job acceptance

I'm happy that the current tight market for many highly skilled/specialized positions is finally putting some of these arrogant HR types in their place. I am highly skilled, but I haven't found the current job market to be "tight". Many of the technical companies near me are hiring "interns" or tho...
by michaeljc70
Fri Oct 19, 2018 12:21 am
Forum: Investing - Theory, News & General
Topic: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"
Replies: 203
Views: 10818

Re: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"

India and China are both in the the top 12 countries held in the Vanguard Total Intl Stock Fund, so it isn't hard to invest in them (not counting countless other ETFs/funds). It will become even easier (if it isn't easy enough now) as their economies become larger, more open and more advanced. So f...
by michaeljc70
Thu Oct 18, 2018 11:52 pm
Forum: Investing - Theory, News & General
Topic: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"
Replies: 203
Views: 10818

Re: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"

India and China are both in the the top 12 countries held in the Vanguard Total Intl Stock Fund, so it isn't hard to invest in them (not counting countless other ETFs/funds). It will become even easier (if it isn't easy enough now) as their economies become larger, more open and more advanced. So f...
by michaeljc70
Thu Oct 18, 2018 11:01 pm
Forum: Investing - Theory, News & General
Topic: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"
Replies: 203
Views: 10818

Re: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"

No, but I think Bogle and Buffet grew up in a different world. China will probably be the biggest economy in the next 10 years. India will probably surpass the US economy in the next 20 years. If certain things happen...continuing the current political trend (not saying what due to forum guidelines...
by michaeljc70
Thu Oct 18, 2018 10:39 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 and W2 from the same employer
Replies: 11
Views: 987

Re: 1099 and W2 from the same employer

All, My employer asked if I am intersted in doing some consulting for him for which he will pay me by 1099. This is in addition to the w2 software development work I am doing for one of his clients. The consulting doesn't have anything to do with my w2 job as it involves training people who are in ...
by michaeljc70
Thu Oct 18, 2018 10:18 pm
Forum: Investing - Theory, News & General
Topic: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"
Replies: 203
Views: 10818

Re: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"

To save everyone the effort of repeating all the back and forth that has happened on the prior threads I will summarize the counter arguments: 1) The future may not look like the past 2) Australia has outperformed the US historically 3) Plenty of good companies outside the US too 4) If you are okay...
by michaeljc70
Thu Oct 18, 2018 9:49 pm
Forum: Investing - Theory, News & General
Topic: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"
Replies: 203
Views: 10818

Re: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"

To save everyone the effort of repeating all the back and forth that has happened on the prior threads I will summarize the counter arguments: 1) The future may not look like the past 2) Australia has outperformed the US historically 3) Plenty of good companies outside the US too 4) If you are okay...
by michaeljc70
Thu Oct 18, 2018 7:30 pm
Forum: Investing - Theory, News & General
Topic: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"
Replies: 203
Views: 10818

Re: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"

To save everyone the effort of repeating all the back and forth that has happened on the prior threads I will summarize the counter arguments: 1) The future may not look like the past 2) Australia has outperformed the US historically 3) Plenty of good companies outside the US too 4) If you are okay...
by michaeljc70
Thu Oct 18, 2018 7:18 pm
Forum: Personal Consumer Issues
Topic: Best way to complain about Hertz bait-and-switch?
Replies: 53
Views: 4929

Re: Best way to complain about Hertz bait-and-switch?

Those cars are different classes (W4 vs K4). If they couldn't provide something similar (in the same class) they should have given a discount.

Image
by michaeljc70
Thu Oct 18, 2018 6:54 pm
Forum: Personal Consumer Issues
Topic: Tip Furniture Delivery?
Replies: 12
Views: 1084

Re: Tip Furniture Delivery?

Generally, no. If there was a promotion and I got free delivery, then probably. I actually rented a van a few months ago from Home Depot for $20 to go pick up a sofa as the store wanted $200 to deliver it 9 blocks from the pickup location . If they charge $200, I see no need to tip.
by michaeljc70
Thu Oct 18, 2018 1:43 pm
Forum: Personal Consumer Issues
Topic: Best way to complain about Hertz bait-and-switch?
Replies: 53
Views: 4929

Re: Best way to complain about Hertz bait-and-switch?

Water under the bridge, it's true, but if I can do something with minimal effort on my part that causes the tiniest bit of unhappiness for them I'm up for it. They lied to my face and that makes it personal to me. How many complaints do you think Hertz gets a day? The people that will respond do th...
by michaeljc70
Wed Oct 17, 2018 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: State tax shenanigans - IL
Replies: 1
Views: 565

State tax shenanigans - IL

I am curious to know if other people have had unjustified tax shenanigans in Illinois or other states. In Illinois, I have encounter the following in very recent years (there are more, but I am limiting it to the most egregious): -Tax bill sent for thousands, requesting proof of tax paid from spouse...
by michaeljc70
Wed Oct 17, 2018 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: Where would you go for financial guidance if you win the Megamillions?
Replies: 166
Views: 13867

Re: Where would you go for financial guidance if you win the Megamillions?

Just to break it up a little, I thought I'd post this I recently saw. The guy won $19 million in the lottery and wound up robbing banks!

https://www.marketwatch.com/story/how-o ... 2018-10-01
by michaeljc70
Wed Oct 17, 2018 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Where would you go for financial guidance if you win the Megamillions?
Replies: 166
Views: 13867

Re: Where would you go for financial guidance if you win the Megamillions?

I'd be posting on here as to whether I should DCA or lump sum it into the market :shock: If I win, I'll probably stop posting here ;) Or at least you will never know 8-) I'm under the impression, that adjusted for chance, there are a lot of people posting here richer than I am winning the lottery. :D
by michaeljc70
Wed Oct 17, 2018 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: Where would you go for financial guidance if you win the Megamillions?
Replies: 166
Views: 13867

Re: Where would you go for financial guidance if you win the Megamillions?

I don't play the lottery but...my first inclination would be to consult with a CPA/lawyer to see if incorporating or something would save me on taxes or I needed some legal shielding. However, I doubt any of that would work. I would just stick to what I am doing (4 fund portfolio). I actually would ...
by michaeljc70
Wed Oct 17, 2018 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion - getting conflicting info about taxes
Replies: 7
Views: 631

Re: Roth conversion - getting conflicting info about taxes

Assuming this is pre-tax money being converted, you will owe taxes on the converted amount only. This. What the one rep said doesn't make sense. You'd be paying income tax on the money 2x (once at the time of conversion and again when you take the money out of the tIRA). Maybe there was a miscommun...
by michaeljc70
Wed Oct 17, 2018 5:04 pm
Forum: Personal Consumer Issues
Topic: Denied credit card with great credit
Replies: 17
Views: 1688

Re: Denied credit card with great credit

I'll add, in addition to my response above (and I did create a thread on it), that once I was asked for copies of my tax return. For a credit card. I have excellent credit (well into the 800s). I think they saw I opened a lot of cards with bonuses and just wanted to make it hard for me. I sent in th...
by michaeljc70
Wed Oct 17, 2018 5:01 pm
Forum: Personal Consumer Issues
Topic: unlicensed repair guy possibly spent our material deposit
Replies: 25
Views: 2834

Re: unlicensed repair guy possibly spent our material deposit

I'm surprised at some of the responses. If the guy is still around, I wouldn't do those things at this point. You will never get your money back IMO if you get aggressive right away. 10 days isn't that long. You are probably right and he used the money for something else. It could be on another job ...
by michaeljc70
Wed Oct 17, 2018 4:57 pm
Forum: Personal Consumer Issues
Topic: Denied credit card with great credit
Replies: 17
Views: 1688

Re: Denied credit card with great credit

Opening a lot of credit cards in a relatively short period of time is a red flag. Some cards are harder to get than others. The number of accounts opened may trump your credit score. Credit card issuers don't just look at credit scores. You might also want to check what score they are using as there...
by michaeljc70
Wed Oct 17, 2018 4:47 pm
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1757

Re: Buyers commission on a condo purchase

The $400 is probably the Broker Admin fee. This a fee that goes to the Brokerage to cover admin support plus just general office expenses . (Ours is $499). I will waive the fee for the client, and pay it myself, for larger sales. Like staples, paper clips and coffee creamer? Sounds like the doc fee...
by michaeljc70
Wed Oct 17, 2018 4:42 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 1276
Views: 217158

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Mike14 wrote:
Wed Oct 17, 2018 3:58 pm
pre wrote:
Sun Mar 18, 2018 3:44 pm
Merrill, TDA, Etrade, etc. will all allow multiple bonuses
For the same account type using the same promo code?
michaeljc70 wrote:
Sun Mar 18, 2018 4:05 pm
I was able to get multiple at TDA moving multiple accounts.
Same account type or different types?
Mine were different account types.