Search found 34 matches

by mdavis6890
Thu Aug 09, 2018 9:30 am
Forum: Investing - Help with Personal Investments
Topic: What to do with Whole Life Policy
Replies: 13
Views: 1028

Re: What to do with Whole Life Policy

The dividend can confuse you, because it looks like you're getting 1150/77,000 = 1.5% return on your money. Then you compare that to a CD and it looks okay and you say 'well, I guess we'll leave it alone.' But that's wrong, because you continue to pay in 1680/yr. They're paying you the dividend out ...
by mdavis6890
Wed Aug 08, 2018 11:47 pm
Forum: Personal Finance (Not Investing)
Topic: Huge mortgage mistake
Replies: 58
Views: 8701

Re: Huge mortgage mistake

Don't sweat it. Sounds like you have enough to put 20% down. Just refi into a new 10/1 adjustable (that is, fixed for 10 years, then adjustable yearly after that, with a 30-year total amortization) with 20% down and you're good to go. It's a bit of hassle, but there's no rush about it or other press...
by mdavis6890
Fri Jun 29, 2018 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: Deferred Comp good idea?
Replies: 18
Views: 1540

Re: Deferred Comp good idea?

Thanks Mike, that was my take as well, but hoping someone else might see something I didn't. I did actually see your other comment when I was searching the forums before I wrote my OP. I'm not worried about that though. Chances are low.
by mdavis6890
Fri Jun 29, 2018 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Deferred Comp good idea?
Replies: 18
Views: 1540

Deferred Comp good idea?

I did a search already for deferred comp on the forum and on Google and found lots of stuff, but nothing that sounds like my particular plan. I recently started at a large tech company and learned that I'd have access to a deferred comp plan, which is new to me. It sounds like an awesome perk at fir...
by mdavis6890
Tue Feb 13, 2018 10:51 am
Forum: Investing - Help with Personal Investments
Topic: Traditional VS Pre-tax 401k
Replies: 9
Views: 642

Re: Traditional VS Pre-tax 401k

Perhaps, but not necessarily: - Switch from Roth to regular 401k - it's a better option for you at your income level. - You'll be saving money on taxes, and that will offset some of the reduced house savings. That is, you won't have 18500 less, you might have 14000 less or so. - You can always borro...
by mdavis6890
Mon Feb 12, 2018 12:43 am
Forum: Personal Finance (Not Investing)
Topic: Deciding to Buy Rental Property - Need Advice
Replies: 16
Views: 2174

Re: Deciding to Buy Rental Property - Need Advice

Reading just a little between the lines of your post, it sounds like you are a "planner." I don't mean that in a bad way - my wife is a planner too, which is great 'cause I'm not. :-) I think you're counting a little too much on a plan, and trying to have everything dialed in - "settled" before star...
by mdavis6890
Sun Feb 11, 2018 6:09 pm
Forum: Investing - Help with Personal Investments
Topic: Traditional VS Pre-tax 401k
Replies: 9
Views: 642

Re: Traditional VS Pre-tax 401k

15% is a very low savings rate, especially for someone living at home and probably with not much else to spend money on. Start by increasing your contribution up to 18500 for this year. Subtract the amount you've already put in, then divide what's left by the number of paychecks remain this year. Th...
by mdavis6890
Sat Oct 28, 2017 1:06 pm
Forum: Investing - Help with Personal Investments
Topic: Early-retired 35 year old with $1 million
Replies: 198
Views: 22979

Re: Early-retired 35 year old with $1 million

I think the most important factor you should consider is that you don't have a wife and kids now, but you probably will later. Those years at home with your future family are worth much more than retiring now. I'd continue working until at least marriage, and probably until your first child. Then yo...
by mdavis6890
Fri Oct 13, 2017 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: 401k match true-up counts for which year?
Replies: 5
Views: 853

Re: 401k match true-up counts for which year?

Re-opening this thread as I just got conflicting advice from a guy at Fidelity. It won't be the first time they're wrong about something though, but I just want to be sure. And I've googled around but can't find anything on it. Spirit Rider, thanks very much for your input on this. Any chance you ca...
by mdavis6890
Thu Sep 28, 2017 3:54 pm
Forum: Personal Consumer Issues
Topic: My first promotion without a pay increase
Replies: 47
Views: 6096

Re: My first promotion without a pay increase

mdavis6890, <<- IT is always a cost to the business and is ALWAYS fighting for dollars. The CIO himself will be begging for budget. >> That statement is not true if the employer is an IT vendor/supplier. In that case, IT is a revenue/profit generator. Far be it from me to disagree with you sir, as ...
by mdavis6890
Thu Sep 28, 2017 3:45 pm
Forum: Personal Consumer Issues
Topic: My first promotion without a pay increase
Replies: 47
Views: 6096

Re: My first promotion without a pay increase

Stop waiting for your company to pay you more and take control of the situation. Whether you like where you work or not - shop around. Go on a few interviews. Ask about comp, schedule, benefits and such. Maybe it'll make you grateful for the job you already have. Or not. Maybe you WILL find a better...
by mdavis6890
Fri Sep 22, 2017 6:17 pm
Forum: Investing - Help with Personal Investments
Topic: Maximum 401K limits for 2017
Replies: 23
Views: 4523

Re: Maximum 401K limits for 2017

Hijacking this thread to confirm something that was just contradicted by a helper at Fidelity who talked to a "specialist" when I was asking about it: He told me that the employer match is NOT counted toward the total contribution limit of $54,000. We made it clear that we were NOT talking about the...
by mdavis6890
Tue Jul 25, 2017 1:37 pm
Forum: Investing - Help with Personal Investments
Topic: Did I screw up this ISO thing?
Replies: 8
Views: 844

Re: Did I screw up this ISO thing?

Thanks for the feedback on this - you're helping me through it at least, even if I'm not getting the answer I want. I'd really like someone to chime in and tell me I have it wrong and that if you do a cashless exercise or something then you only have to wait two years from the original grant date. I...
by mdavis6890
Tue Jul 25, 2017 1:21 pm
Forum: Investing - Help with Personal Investments
Topic: Did I screw up this ISO thing?
Replies: 8
Views: 844

Re: Did I screw up this ISO thing?

Strike is about $2k out of the $20k.
by mdavis6890
Tue Jul 25, 2017 12:46 pm
Forum: Investing - Help with Personal Investments
Topic: Did I screw up this ISO thing?
Replies: 8
Views: 844

Re: Did I screw up this ISO thing?

I'm not worried about the AMT thing. It's not that much - about $20k total in options at this point, so maybe a few thousand max I'd be loaning the govt.

I just don't want to wait a year to pull out the $20k if I don't have to!
by mdavis6890
Tue Jul 25, 2017 12:37 pm
Forum: Investing - Help with Personal Investments
Topic: Did I screw up this ISO thing?
Replies: 8
Views: 844

Did I screw up this ISO thing?

[edited to add Dollar amounts and AMT comment] My company was acquired a little over a year ago, leaving me with some options in the acquiring company stock that have been vesting monthly totaling about $20k now (of which $2k is my cost) and continuing to vest around $2k worth per month for the next...
by mdavis6890
Mon Jul 03, 2017 9:53 pm
Forum: Personal Consumer Issues
Topic: Getting a new cooktop, gas vs electric?
Replies: 72
Views: 6154

Re: Getting a new cooktop, gas vs electric?

It's killing me that people keep saying "smoothtop." There are two completely different kinds of smoothtop, one that is awful and one that is awesome. Radiant cooktops and just coils made worse by putting a sheet of glass over them. Induction is great. Equal to - but very different from - gas. Induc...
by mdavis6890
Tue Jun 20, 2017 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: Tracking towards a million and retiring at 55.
Replies: 38
Views: 7055

Re: Tracking towards a million and retiring at 55.

Saving 36k out of 186k is a very low savings rate, especially with the monthly numbers you have and no wife or kids.

Save much more. Like double to triple. Enjoy watching your balance grow and imagine how you'll spend all that free time once you retire.
by mdavis6890
Mon Jun 05, 2017 10:03 pm
Forum: Personal Finance (Not Investing)
Topic: Play Money for Spouse....
Replies: 138
Views: 14141

Re: Play Money for Spouse....

She thinks you are controlling and/or judging her spending. You do not believe this is true. That is a serious disconnect. A fun money budget might be a good logistical solution, but you need to address the feelings apart from any financial action items. This. Also she needs to take some ownership ...
by mdavis6890
Sat May 06, 2017 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: 401k match true-up counts for which year?
Replies: 5
Views: 853

Re: 401k match true-up counts for which year?

Thanks Spirit Rider! So does that mean I have to try to figure out what my true-up would be for this year in advance and then back out that money? I'm trying to spread it out to avoid the need for a true-up, but I don't think I can avoid it entirely. What would happen if I get up to the $54k limit, ...
by mdavis6890
Sat May 06, 2017 11:32 am
Forum: Personal Finance (Not Investing)
Topic: 401k match true-up counts for which year?
Replies: 5
Views: 853

401k match true-up counts for which year?

On 3/31/2017 I received a match true-up for 2016 ($3500). For the purposes of the $54k total contribution limit, does this true-up count for this year or last year? Purpose: I'm setting up for a mega-back-door by putting as much after-tax money as I can into my 401k, in addition to maxing out the $1...
by mdavis6890
Sat Jul 02, 2016 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Please help! Buyer's remorse, need advice
Replies: 104
Views: 13243

Re: Please help! Buyer's remorse, need advice

I was the bonehead suggesting that you sell after you already updated that you did. Sorry. It would be nice if there was a quick way to see which posts in the thread are from the OP. The board is so active and sometimes I feel I have something important to say to the OP, but don't want to spend an h...
by mdavis6890
Sat Jul 02, 2016 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Please help! Buyer's remorse, need advice
Replies: 104
Views: 13243

Re: Please help! Buyer's remorse, need advice

The amount of the loan and the other financial info doesn't matter much. You're driving a $30k truck that you don't like, which will lose a bunch more value soon as it's still pretty new. Sell it. Every day you wait costs you maybe $10-20 in value. You can afford quite a bit of vehicle on $120k inco...
by mdavis6890
Sat Jul 02, 2016 8:39 am
Forum: Investing - Theory, News & General
Topic: One thing I have always wondered..why should investors buy and hold when a stock/bond/fund keeps dropping and dropping?
Replies: 74
Views: 7670

Re: One thing I have always wondered..why should investors buy and hold when a stock/bond/fund keeps dropping and droppi

I think people keep talking around the simple, straightforward reason that's implicit in most of these responses: Tomorrow the market is expected to go up by a 7% annualized rate of return and I don't want to miss it. The Bogleheads philosophy says that this is true regardless of what happened yeste...
by mdavis6890
Wed Jun 29, 2016 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Quit Job - Qualifying Event?
Replies: 6
Views: 1938

Re: Quit Job - Qualifying Event?

Thanks!!

Can anybody else corroborate?
by mdavis6890
Wed Jun 29, 2016 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Quit Job - Qualifying Event?
Replies: 6
Views: 1938

Quit Job - Qualifying Event?

My wife and I have insurance through work. Hers covers the kids as well. We're considering that she might want to quit - at least for a while. If she does, she wouldn't have insurance through her job anymore, and neither would the kids. Would this be a "qualifying event" that I could use to increase...
by mdavis6890
Mon Jun 27, 2016 10:23 am
Forum: Personal Finance (Not Investing)
Topic: W4 for teenager
Replies: 13
Views: 10424

Re: W4 for teenager

The most important non-obvious thing for a teenager to understand is that the W-4 and amount withheld actually doesn't matter that much, and doesn't have any bearing on how much taxes you actually owe. That's all determined after year-end (roughly). You can pretty much put whatever you want on that ...
by mdavis6890
Wed Jun 15, 2016 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance rental property? - UPDATE - Selling a rental
Replies: 17
Views: 2326

Re: Refinance rental property?

At $1900/mo rent, your net income (before mortgage) is likely around $1100/mo = $13,200/yr, which on a value of $250k is about a 6% cap rate. Numbers are all rough, but the cap rate probably isn't too far off. A 6% cap rate isn't all that strong, which weights toward selling. Also, with your payment...
by mdavis6890
Sun Jun 12, 2016 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance coverage
Replies: 5
Views: 832

Re: Life Insurance coverage

Remember that with insurance, it's not really about what you need it for (house, college, etc) - it's about what your loved ones lose out on if you die. Namely, the net present value of your expected future income, discounted a little bit because they won't have to spend money on YOU if you die. So ...
by mdavis6890
Thu Jun 09, 2016 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: Use regular money instead of HSA?
Replies: 16
Views: 2234

Re: Use regular money instead of HSA?

Just so I'm clear on what you mean - are you saying that Whitecoat's intention is to pay with regular money now - but save up all the receipts for a giant reimbursement many years later?

Michael
by mdavis6890
Thu Jun 09, 2016 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Use regular money instead of HSA?
Replies: 16
Views: 2234

Use regular money instead of HSA?

In this post from Mr. WhiteCoat, he suggests using regular money instead of HSA money for health expenses. I'm not sure I fully understand why. Would somebody help clarify? http://whitecoatinvestor.com/retirement-accounts/the-stealth-ira/ "Then, when you do have health costs, pay for them out of you...
by mdavis6890
Sun Apr 24, 2016 7:17 pm
Forum: Personal Consumer Issues
Topic: Fixing up your home - or just selling it?
Replies: 17
Views: 2089

Re: Fixing up your home - or just selling it?

You're much too focused on the past. All the language in your posts is geared toward comparing what you paid sometime in the past to what you "should" have done. Stop that. The only way to make an intelligent decision now is to focus on the current reality: - You have a $450k fixer-upper - You have ...
by mdavis6890
Wed Feb 10, 2016 9:56 pm
Forum: Investing - Help with Personal Investments
Topic: Roth VS Trad 401k
Replies: 12
Views: 1585

Re: Roth VS Trad 401k

Forgive me for being new to this site and I didn't understand the requirement for the topic to be approved - so I never thought it got posted!

Circling back now, I see I garnered a lot of helpful advice. Thanks so much.
by mdavis6890
Wed Jan 27, 2016 1:49 pm
Forum: Investing - Help with Personal Investments
Topic: Roth VS Trad 401k
Replies: 12
Views: 1585

Roth VS Trad 401k

Howdy, I'm new to posting on Bogleheads, though I've been following for a few months now. I tried searching for this topic and found a number of posts that dance around my question, but none that answer it directly. My wife and I are currently maxing out two Roth 401ks with no match. I'm considering...