Search found 205 matches

by rocket354
Fri Nov 02, 2018 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Is an MBA worth it these days?
Replies: 53
Views: 6257

Re: Is an MBA worth it these days?

Once you consider forgone salary, $250+k for a top MBA is daunting, perhaps much lower tuition and no loss of salary at a part time program will still get you where you want to go. Holy grail of this approach is finding an employer who offers tuition benefits while you go to school at night. UT's M...
by rocket354
Fri Nov 02, 2018 12:33 pm
Forum: Personal Consumer Issues
Topic: Weight Training After 70
Replies: 33
Views: 2331

Re: Weight Training After 70

Talking about exercise is like talking about diets (as someone above mentioned)...or religion. There's as many opinions as there are people, even amongst the "experts." And sometimes disagreements can get testy. Two things that I think are universal, are that weight training is great for your physic...
by rocket354
Wed Oct 31, 2018 11:29 am
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth uncertainty
Replies: 4
Views: 301

Re: Backdoor Roth uncertainty

Roth eligibility is determined by adjusted gross, so your traditional 401k contributions would have an effect. We just contribute to IRAs when we do taxes. That outs us over a year behind in contributions from folks who act in January, but it means we are making an informed decision. We have been r...
by rocket354
Wed Oct 31, 2018 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth uncertainty
Replies: 4
Views: 301

Backdoor Roth uncertainty

I like to do my Roth contribution in full on Jan 2 of each year. However, for 2019, my understanding is that the individual income limit for a full Roth contribution will be around $122k, past which the Roth limit slowly decreases. My problem is that next year I stand a 50/50 chance of surpassing th...
by rocket354
Mon Oct 29, 2018 11:25 am
Forum: Personal Consumer Issues
Topic: When to get a new toilet?
Replies: 52
Views: 3811

Re: When to get a new toilet?

OP here. Just to clarify some: I am an out-of-town landlord, so doing the work myself is not an option. That particular toilet has been repaired frequently. This piece, that piece, etc, one at a time usually at a cost of $100-150. It has been repaired almost annual, probably every 1.5-2 years. The p...
by rocket354
Sun Oct 28, 2018 10:57 am
Forum: Personal Consumer Issues
Topic: When to get a new toilet?
Replies: 52
Views: 3811

When to get a new toilet?

I just had a plumber recommend to me a new toilet. It was always running, and repairing it has become almost an annual affair. He said my options were either $265 to replace all the innards, or $400 to just replace it with a more modern and efficient toilet (current one is 28 years old). This new on...
by rocket354
Sun Oct 21, 2018 7:57 pm
Forum: Investing - Help with Personal Investments
Topic: Should I sell or rent out my bay area house?
Replies: 27
Views: 2771

Re: Should I sell or rent out my bay area house?

I don't want to manage rental long distance. ... I will not have positive cash flow. ... Selling is more straight forward I think you've answered your own question. Prices have gone crazy, but that does not mean they will continue to. Enjoy the gains you've probably gotten, and worry about what may...
by rocket354
Sun Oct 21, 2018 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Where would you go for financial guidance if you win the Megamillions?
Replies: 188
Views: 16800

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

So, the odds of winning are about 1/302,000,000 and the pot is about $1 Bil. So expected value is between $3 and $4. So, maybe go for 2 tickets this time. I gotta go get another one. That is provided that the pot is not split. Given the higher level of interest, it's more likely to have multiple ti...
by rocket354
Thu Oct 11, 2018 2:07 pm
Forum: Investing - Theory, News & General
Topic: Remembering the Lessons of the 2008 Financial Crisis - Allan Roth
Replies: 3
Views: 1137

Re: Remembering the Lessons of the 2008 Financial Crisis - Allan Roth

I had bought a house at the peak in 2006. I was 92/8 when the crash occurred. My net worth dropped 150% during the GFC. I now own three properties, and I'm 100/0. I am 10 years older with less time to recover, but still plenty of time. If these last couple days are just a prelude to a bigger plunge,...
by rocket354
Wed Oct 10, 2018 12:40 pm
Forum: Personal Consumer Issues
Topic: Grand Canyon (LV) - is $80 ticket price for Sky Walk worth it
Replies: 14
Views: 1376

Re: Grand Canyon (LV) - is $80 ticket price for Sky Walk worth it

I went to the skywalk a few years ago. It was definitely not worth it. The view wasn't nearly as great as advertised, it was very expensive per person, they didn't allow cameras, and after about 15 mins of standing there we just shrugged and left. And that was traveling from Las Vegas, so it was abo...
by rocket354
Mon Oct 08, 2018 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: Calculating properties in your Net Worth?
Replies: 10
Views: 1001

Re: Calculating properties in your Net Worth?

until you sell it, it is a stab in the dark. I own a condo in a complex where all the units are the same floor plan. The last three sales in the complex, of pretty equally renovated units, were 210k, 250k, 230k. So how much is mine? Online estimates for mine range from $240k - $270k (?? -- we've ne...
by rocket354
Mon Oct 08, 2018 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: Calculating properties in your Net Worth?
Replies: 10
Views: 1001

Re: Calculating properties in your Net Worth?

until you sell it, it is a stab in the dark. I own a condo in a complex where all the units are the same floor plan. The last three sales in the complex, of pretty equally renovated units, were 210k, 250k, 230k. So how much is mine? Online estimates for mine range from $240k - $270k (?? -- we've nev...
by rocket354
Wed Sep 26, 2018 10:34 pm
Forum: Personal Consumer Issues
Topic: How to buy a mattress
Replies: 46
Views: 3412

Re: How to buy a mattress

I've tried a number of the bed-in-a-box companies. I thought all sold quality mattresses, although I'm a picky sleeper and so I did go through a few before settling on Purple. Note that memory foam always takes a little while to break in and soften. Purple and Casper were the softest out of the box,...
by rocket354
Sat Sep 22, 2018 9:51 am
Forum: Investing - Help with Personal Investments
Topic: Getting Started with Rental Property Investments
Replies: 8
Views: 907

Re: Getting Started with Rental Property Investments

..... I’d also recommend against buying a condo for a rental as the HOA will kill any cash flow opportunity. .... My rental condo balance sheet and net monthly cash flow begs to differ. :D Yeah HOA dues seem to often be misunderstood (the actual HOA is another matter). HOA dues cover the costs of i...
by rocket354
Wed Sep 19, 2018 12:45 pm
Forum: Investing - Theory, News & General
Topic: “Majority of working-age Americans have no retirement savings”
Replies: 73
Views: 4164

Re: “Majority of working-age Americans have no retirement savings”

From the article: Using U.S. Census Bureau data, the institute also found 57% of working-age Americans — more than 100 million people — don't have retirement assets in an employer-sponsored defined contribution plan, pension plan or individual retirement account. and: The NIRS report noted that even...
by rocket354
Sun Sep 16, 2018 5:16 pm
Forum: Investing - Help with Personal Investments
Topic: Paying off mortgage with 87K left on it
Replies: 69
Views: 6342

Re: Paying off mortgage with 87K left on it

Congrats to the OP! I just bought a house a few months ago so I'm clear at the other end of the spectrum. But it's nice to live vicariously through others :) Re: recasting mortgages. However you want to slice or dice it, whether you "pay more" interest depends on what you are comparing. My CU, for e...
by rocket354
Tue Sep 04, 2018 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: I still use cash not credit cards should I reconsider?
Replies: 102
Views: 7886

Re: I still use cash not credit cards should I reconsider?

Just an update. Yesterday got my Capital One QuickSilver card. 1.5% cash back with a $200 bonus if I spend $1000 within 3 months. I'm going to use less cash and use this card for a few months and see how it feels. I admit I'm feeling a bit excited to spend the first $1K. I need to buy a grill and t...
by rocket354
Fri Aug 24, 2018 11:06 am
Forum: Personal Finance (Not Investing)
Topic: I still use cash not credit cards should I reconsider?
Replies: 102
Views: 7886

Re: I still use cash not credit cards should I reconsider?

My points will probably be a collection of previously made points: 1) By going to CC you get free money in the form of sign-up bonuses and cash back. Some of these can be pretty lucrative--from one sign-up bonus, I've gotten airline miles which have translated into about $1000 in what I would have s...
by rocket354
Tue Aug 07, 2018 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage question
Replies: 20
Views: 1883

Re: Mortgage question

It depends on what you mean by "better." By how you likely mean it (which pays down the mortgage faster?) then paying the $1000/mo is better. The reason is that every payment you make lowers the principal some and therefore reduces the interest on the next payment, thereby increasing the principal p...
by rocket354
Sun Jul 29, 2018 5:26 pm
Forum: Investing - Theory, News & General
Topic: Buying a home [as a safe investment]
Replies: 42
Views: 3365

Re: Buying a home

These arguments have been going back and forth for a long time and mostly result in people talking past each other. Despite that, I will give some real-life numbers to reflect the true comparison which is not buying a home vs investing, rather it is buying a home vs renting. Don't you have to accou...
by rocket354
Sun Jul 29, 2018 5:18 pm
Forum: Investing - Theory, News & General
Topic: Buying a home [as a safe investment]
Replies: 42
Views: 3365

Re: Buying a home

Since owning vs renting the same apartment is the exact same activity, something exogenous must be accounting for the difference in outcomes. It's not clear to me what these are, and I wonder if you could explain, I don't see anything about tax savings, so I guess that's not it. Is it appreciation ...
by rocket354
Sun Jul 29, 2018 4:42 pm
Forum: Investing - Theory, News & General
Topic: Buying a home [as a safe investment]
Replies: 42
Views: 3365

Re: Buying a home

These arguments have been going back and forth for a long time and mostly result in people talking past each other. Despite that, I will give some real-life numbers to reflect the true comparison which is not buying a home vs investing, rather it is buying a home vs renting. Don't you have to accou...
by rocket354
Sun Jul 29, 2018 2:54 pm
Forum: Investing - Theory, News & General
Topic: Buying a home [as a safe investment]
Replies: 42
Views: 3365

Re: Buying a home

These arguments have been going back and forth for a long time and mostly result in people talking past each other. Despite that, I will give some real-life numbers to reflect the true comparison which is not buying a home vs investing, rather it is buying a home vs renting. I believe the smartest t...
by rocket354
Thu May 31, 2018 11:07 am
Forum: Personal Consumer Issues
Topic: Thoughts on Buying a "Flipped" House?
Replies: 27
Views: 3391

Re: Thoughts on Buying a "Flipped" House?

I live in an area where it's hard not to buy a flip. It's a hot market with tons of houses from the 20's-50's getting bought, renovated, and put back on the market four months later. I agree with others: be very wary. Many houses I saw had obvious corner-cutting to my amateur eye--floors that weren'...
by rocket354
Wed May 02, 2018 11:03 pm
Forum: Investing - Help with Personal Investments
Topic: How and when to save for real estate
Replies: 12
Views: 1590

Re: How and when to save for real estate

Thanks any suggestions of books or good blogs? biggerpockets is a great forum for RE investing. I will say that if you plan on buying an investment property, using leverage is the absolute way to go. A 25-30% down payment will get you in with a good rate fixed mortgage. Tying up a bunch of your sav...
by rocket354
Wed May 02, 2018 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: Optum HSA Fee Increase Notice
Replies: 16
Views: 2213

Re: Optum HSA Fee Increase Notice

I just checked my account and the fee is for an average balance of $500 :oops: (not $5000 ) You scared me there for a moment. :beer Curiously, my previous employer still pays that fee for me. I re-checked the Optum notice and sure enough it is $5000 (and sadly not $500) for me. I guess this shows t...
by rocket354
Mon Apr 30, 2018 11:20 am
Forum: Personal Consumer Issues
Topic: Las Vegas Restaurants
Replies: 25
Views: 2299

Re: Las Vegas Restaurants

I lived in Las Vegas for years. There's so many restaurants on or near the strip that it would help immensely if you gave a style and/or price range of restaurants. Off the top of my head, a few of my favorites: Pricier Strip Steak (Mandalay Bay) - my personal favorite restaurant in Vegas Prime (Bel...
by rocket354
Thu Apr 26, 2018 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: Who benefits from "best and final offer" on condo?
Replies: 107
Views: 7253

Re: Who benefits from "best and final offer" on condo?

I'm surprised at how many people think "best and final" always means "best and final" from the seller's perspective. I think that's naive. When we bought our house we were told "best and final", and we submitted an offer. The next day the seller's agent came back to us saying that we were competing...
by rocket354
Wed Apr 25, 2018 6:51 pm
Forum: Investing - Theory, News & General
Topic: What happened to the Dow Jones between 1966-1982?
Replies: 72
Views: 5250

Re: What happened to the Dow Jones between 1966-1982?

This information is from a S&P 500 return calculator (annual returns) https://dqydj.com/sp-500-return-calculator/ 1966 to 1982 1.39% return, 5.49% with dividends reinvested 1966 to 1995 6.09% return, 10.18% with dividends reinvested 1982 to 1995 12.17% return, 16.24% with dividends reinvested Those...
by rocket354
Sun Apr 22, 2018 12:08 pm
Forum: Investing - Help with Personal Investments
Topic: Rental Property - Keep or Sell?
Replies: 4
Views: 595

Re: Rental Property - Keep or Sell?

I currently own a condo, in a highly desirable neighborhood in Seattle which I have been renting out. Given where the prices have gone, I am debating if its time to lock in profits. and divest into more real estates in cheaper areas. Value - 600K equity - 70% rent 2300/mo I am cash flow positive, a...
by rocket354
Sat Apr 21, 2018 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Learning about buying a home for complete beginner
Replies: 12
Views: 1606

Re: Learning about buying a home for complete beginner

Piggybacking off of previous posters... Talk to a lender. Ask them how expensive a house you could afford with your current income and debts. Then take whatever number they give you and cut it in half, and look for houses in that ballpark. There are a variety of programs for first-time buyers that y...
by rocket354
Tue Apr 17, 2018 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Bargaining with Lenders--whom do I choose?
Replies: 8
Views: 1290

Re: Bargaining with Lenders--whom do I choose?

Thanks, did just that. Showed the CU the other offer and they matched on rate, and came close on costs, saying they could beat the costs with a formal offer (which would require lots of documentation and a credit check to the other lender). So I accepted their revised offer, figuring the credit pull...
by rocket354
Tue Apr 17, 2018 7:53 am
Forum: Personal Finance (Not Investing)
Topic: Bargaining with Lenders--whom do I choose?
Replies: 8
Views: 1290

Re: Bargaining with Lenders--whom do I choose?

Thanks, guys. I've read reviews, but every place has good reviews and bad reviews. I currently own a home I've owned for the last 12 years. My plan would be to own this one for a long time--it's a great place both for me to live and for me to convert to a rental if/when I move next. If it matters fo...
by rocket354
Mon Apr 16, 2018 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Bargaining with Lenders--whom do I choose?
Replies: 8
Views: 1290

Bargaining with Lenders--whom do I choose?

I just went under contract to purchase a house. I originally planned to go through my credit union for the loan, and have watched interest rates rise pretty steeply over the last 8 months or so. I talked with my CU and it sounds like my two options are 4.625% 30-year fixed, or pay a quarter-point to...
by rocket354
Thu Apr 12, 2018 7:28 am
Forum: Personal Finance (Not Investing)
Topic: realtor wants to show house to buyer, no listing agent for me
Replies: 55
Views: 5514

Re: realtor wants to show house to buyer, no listing agent for me

No one has mentioned the worst part of this: you're likely to receive less than the market value for your home if you go with this buyer. This is more or less acknowledged by the realtor who told you that this buyer lost out on other homes in the area, ie, the buyer didn't offer the highest bid. Th...
by rocket354
Sat Apr 07, 2018 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: How do you estimate your home's market value?
Replies: 53
Views: 4129

Re: How do you estimate your home's market value?

Anyone using Zillow or Redfin or any other of these algorithmic valuation estimates is taking a risk. Sometimes the estimates are pretty spot on. Sometimes they're in the ballpark. But just as often they can be way off. I'm house shopping at the moment. One home I looked at had a Z-estimate of $480k...
by rocket354
Sat Apr 07, 2018 11:07 am
Forum: Investing - Theory, News & General
Topic: What is your AA, given your age? and, Why?
Replies: 163
Views: 15182

Re: What is your AA, given your age? and, Why?

39yo. 100/0. I was 92/8 heading into the GFC, survived that then watched the rebound and realized I should/could be rebounding more. Went to 100/0 in 2012 and haven't yet looked back. My reasoning is that I am saving for retirement by, say 65. Has any other portfolio other than 100/0 beat 100/0 over...
by rocket354
Tue Apr 03, 2018 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: Am I Crazy to Consider Relocating 5 Months after Buying a House?
Replies: 28
Views: 3403

Re: Am I Crazy to Consider Relocating 5 Months after Buying a House?

I can just give another vote for items others have already said.

The house is a sunk cost. Make your decision based on your career goals, and in regards to its effect on you, your family, and friends. Don't let the house impact your decision one iota.

(FWIW, I vote: go for it!)
by rocket354
Sat Mar 31, 2018 10:48 am
Forum: Investing - Theory, News & General
Topic: Nice article on saving money and financial independence
Replies: 36
Views: 5793

Re: Nice article on saving money and financial independence

Her goal is to amass a portfolio that throws off $2,000 a month for life, a comfortable amount for her that she expects to achieve next year if the market doesn’t tank. So a bare bones lifestyle...if the market doesn't tank. She has no family, and a studio apartment in an iffy part of town. Also, s...
by rocket354
Fri Mar 30, 2018 10:30 am
Forum: Investing - Help with Personal Investments
Topic: Cryptos- "Bear" with me here
Replies: 31
Views: 2868

Re: Cryptos- "Bear" with me here

I’ve been familiar with cryptos since Bitcoin was around $10 and my kid was mining them with his gaming computer. Once Bitcoin hit $20k, suddenly people who have no real idea how they work are suddenly “investing” in cryptos. It’s all FOMO in my opinion. It’s not investing, it is wildly speculative...
by rocket354
Thu Mar 29, 2018 1:01 pm
Forum: Investing - Theory, News & General
Topic: How to calculate IRR?
Replies: 16
Views: 1431

Re: How to calculate IRR?

Quick question on calculating IRR. Let's say you have the following cash flow: -1000; 100; 200; 300; 400; 500 If you are using a discount rate of 5% , then the discounted cash flow is: -1000; 95; 181; 259; 329; 392 Do you calculate the IRR on the actual or discounted cash flow (or are both valid)? ...
by rocket354
Tue Mar 20, 2018 11:14 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Investment Property
Replies: 6
Views: 1095

Re: Rental Investment Property

First, your monthly cashflow calculation is a little simplistic. And, either way, that is different from profit. I don't know how much you put down, but if you put 20% down then the home was bought for between $210k and $240k depending on how high a property tax state you're in. What that means is y...
by rocket354
Fri Mar 16, 2018 8:55 pm
Forum: Personal Consumer Issues
Topic: 5/24 rule for rewards credit cards - bunching applications
Replies: 31
Views: 3589

Re: 5/24 rule for rewards credit cards - bunching applications

Is it possible to open multiple reward cards at approximately the same time with different credit card companies to avoid the 5/24 rule? For example, say you are 4/24 and try to open a Chase and Citi card on the same day. I'm not sure if they would see the inquiry for the other card and use that to...
by rocket354
Thu Mar 15, 2018 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Those with high savings rate: why?
Replies: 246
Views: 35050

Re: Those with high savings rate: why?

Is it because you want to retire early, or You are not sure what the future holds, e.g. low job security, or You want to leave money to others, e.g. kids, grand kids, charity, or You have no interest in increasing your consumption now, including giving more money to charity etc. Any insights? A, B,...
by rocket354
Thu Mar 15, 2018 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: Need Advice Rental Property -- Rent not covering PITI
Replies: 18
Views: 1914

Re: Need Advice Rental Property -- Rent not covering PITI

Definitely sell if you can. To put some numbers on it: You say it's worth $725k. Let's say with some fixing up, realtor fees, and other transaction costs, you'd have to pay 10% of its value to sell. Then you get $652.5k - $570k mortgage = $82.5k. So you can invest this $82.5k either in rental proper...
by rocket354
Wed Mar 14, 2018 4:55 pm
Forum: Personal Consumer Issues
Topic: Credit card question - get Uber's new 4%er?
Replies: 57
Views: 7644

Re: Credit card question - get Uber's new 4%er?

I saw the ads, applied for the card and received it... then cancelled it after thorough reading the Terms and Conditions. Seemed like far too many hoops to jump through to redeem. Am I mistaken? I already carry 6% AMEX grocery, PenFed 5% gas and FIDO 2% everything and carrying one more card is not ...
by rocket354
Wed Mar 14, 2018 4:37 pm
Forum: Personal Consumer Issues
Topic: Credit card question - get Uber's new 4%er?
Replies: 57
Views: 7644

Re: Credit card question - get Uber's new 4%er?

fast_and_curious wrote:
Wed Mar 14, 2018 4:10 pm

We haven't tried it in Europe yet, but it appears to be chip-and-PIN from what I can see.
My trip was to Europe and everything worked as advertised. Paid in Euros, which got an acceptable exchange to dollars when it hit my account. 4X points credited and no additional fees.
by rocket354
Wed Mar 14, 2018 2:43 pm
Forum: Personal Consumer Issues
Topic: Credit card question - get Uber's new 4%er?
Replies: 57
Views: 7644

Re: Credit card question - get Uber's new 4%er?

The Uber card is now my most-used card. 4% restaurants. 3% travel (airlines, hotels, rideshares, etc). 2% online purchases. 0% foreign transaction fee. I recently went on a two-week trip overseas and that was a great combination of benefits on just one card. I'll stop before I sound too much like an...
by rocket354
Tue Mar 13, 2018 7:18 pm
Forum: Personal Consumer Issues
Topic: As a home buyer, do you use your own realtor or agent?
Replies: 25
Views: 2667

Re: As a home buyer, do you use your own realtor or agent?

In terms of choosing agents it's always been a crapshoot for me. I chose one with lots of high reviews on the major real estate web sites and he turned out to be a lying slimeball. I've gotten recs from people and none of them have impressed me much--the recs have been friends of friends, not agents...
by rocket354
Mon Mar 12, 2018 5:02 pm
Forum: Personal Consumer Issues
Topic: As a home buyer, do you use your own realtor or agent?
Replies: 25
Views: 2667

Re: As a home buyer, do you use your own realtor or agent?

I've been pretty serious house-shopping a few times, each time with a realtor. I've not once ever gotten into a FSBO home with my agent (different one each time). Something always seems to "come up." I don't know how local it is, but I've always suspected there's a concerted effort on the part of so...