Search found 262 matches

by NYCguy
Sun Nov 25, 2018 9:35 pm
Forum: Investing - Theory, News & General
Topic: What to track/manage: Spending vs Saving
Replies: 10
Views: 1020

Re: What to track/manage: Spending vs Saving

Congratulations. Having been there and done that, be vigilant but don’t sweat the missed goal. Objectively, you’re doing fine and a 5% variance particularly with a young family is not a make or break for you. Looking ahead, keep an eye on future income growth and growth in expenses which are hard to...
by NYCguy
Mon Nov 19, 2018 9:35 pm
Forum: Personal Consumer Issues
Topic: Good audio book for a family?
Replies: 33
Views: 1829

Re: Good audio book for a family?

Here are three very different but excellent audiobooks for a road trip with a family. Endurance https://www.audible.com/pd/Endurance-Audiobook/B002V9ZA6C?qid=1542680903&sr=sr_1_1&ref=a_search_c3_lProduct_1_1&pf_rd_p=e81b7c27-6880-467a-b5a7-13cef5d729fe&pf_rd_r=KAC502FFVGYJZ72CP1KV& This is a new rea...
by NYCguy
Sun Nov 18, 2018 12:50 pm
Forum: Investing - Theory, News & General
Topic: Ed Slott & Roth Conversions
Replies: 45
Views: 3579

Re: Ed Slott & Roth Conversions

One thing I always warn about yet seldom see mentioned by the "experts" is ignoring end-of-life medical expenses as a way to spend down a TIRA at 0%. My parents did not have long-term care insurance yet both end-up in a nursing home. We spent around $400k of deductible medical expenses over their l...
by NYCguy
Sat Nov 17, 2018 11:23 am
Forum: Investing - Help with Personal Investments
Topic: Beta Vanguard APP
Replies: 10
Views: 622

Re: Beta Test New Vanguard App... Is this a scam?

Please report to Vanguard ASAP and report back to the forum if you learn anything. Thanks
by NYCguy
Sun Nov 11, 2018 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Finances in NYC
Replies: 95
Views: 8211

Re: Finances in NYC

In a New York minute. You sum it up when you say professionally it is a no brainer. New York remains a land of opportunity, particularly for the young and skilled. I am guessing you meet that description. Bingo. My only advice would be do everything possible to *not* pay an apartment broker. +1. I ...
by NYCguy
Sat Nov 10, 2018 8:28 am
Forum: Personal Finance (Not Investing)
Topic: Finances in NYC
Replies: 95
Views: 8211

Re: Finances in NYC

In a New York minute. You sum it up when you say professionally it is a no brainer. New York remains a land of opportunity, particularly for the young and skilled. I am guessing you meet that description. Yes, New York is incredibly expensive but you can make the numbers work. I highly recommend you...
by NYCguy
Sat Oct 06, 2018 8:04 pm
Forum: Personal Consumer Issues
Topic: Help identify vine in backyard
Replies: 26
Views: 1555

Re: Help identify vine in backyard

Inaturualist is an amazing App. You can take a photo of anything in nature, a plant, scat, footprints, and upload it. Software can often identify the photo and it is supplemented by expert opinions. Truly amazing.
by NYCguy
Mon Sep 03, 2018 9:47 pm
Forum: Personal Consumer Issues
Topic: How much do you spend on kids extracurriculars?
Replies: 85
Views: 4952

Re: How much do you spend on kids extracurriculars?

We can afford the expense, and the hassle for us is relatively minimal... To me this is the answer to your question assuming your kids are enjoying themselves. I was asking myself the same question this weekend. We are spending these crazy amounts if that makes you feel any better. Yes it is ridicu...
by NYCguy
Sun Sep 02, 2018 10:41 am
Forum: Investing - Help with Personal Investments
Topic: How's our family portfolio and am I crazy for considering a huge pay cut?
Replies: 16
Views: 1544

Re: How's our family portfolio and am I crazy for considering a huge pay cut?

Our little family plans to make a huge change within the next two years and I’d love folks thoughts on (1) how we’re doing so far; and (2) whether my (very uncertain) plan going forward is too crazy, too risky, etc. My wife and I are each 33 years old. We have two small children. I’ve worked hard a...
by NYCguy
Sun Sep 02, 2018 10:40 am
Forum: Investing - Help with Personal Investments
Topic: How's our family portfolio and am I crazy for considering a huge pay cut?
Replies: 16
Views: 1544

Re: How's our family portfolio and am I crazy for considering a huge pay cut?

Using Monte Carlo simulations, if you keep saving at your current rate and markets continue behaving normally, by age 45 you will have accumulated almost $3M in your retirement accounts (50th percentile of simulations). So I would propose you stick it out for a dozen more years, then downshift. htt...
by NYCguy
Sun Sep 02, 2018 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity Rewards Visa Card
Replies: 51
Views: 7406

Re: Fidelity Rewards Visa Card

I've moved most of my spending over to this card away from the Citi Double Cash and it's worked well so far. Only downside is the lack of integration into Fidelity's website as others have mentioned. The automatic rewards redemption is a nice feature that I was missing with the Citi card. Why, what...
by NYCguy
Wed Aug 29, 2018 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: How do you 7 figure guys organize multiple accounts?
Replies: 164
Views: 12202

Re: How do you 7 figure guys organize multiple accounts?

+1. I find Quicken outstanding. It is a power tool.
by NYCguy
Mon Aug 20, 2018 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Paying cash for a house. Good idea?
Replies: 12
Views: 1870

Re: Paying cash for a house. Good idea?

In your circumstance I would pay cash and use the proceeds from the investments you suggested. Even though you have a stable job, if you’re concerned about diminished liquidity, take out a home equity line of credit and draw upon it only if you need liquidity. Chances are you will not need it but yo...
by NYCguy
Mon Aug 20, 2018 1:28 pm
Forum: Investing - Help with Personal Investments
Topic: Finance advice for 35 year old trying to plan ahead
Replies: 8
Views: 1686

Re: Finance advice for 35 year old trying to plan ahead

You are in great shape. Your $24,000 per year rent split with your SO is a bargain. I would keep that housing arrangement for as long as you are happy. If you think you will need to buy the primary home within the next 5 to 10 years in your HCLA then I think you should be saving your $60,000 per ye...
by NYCguy
Sun Aug 19, 2018 5:52 pm
Forum: Investing - Help with Personal Investments
Topic: Finance advice for 35 year old trying to plan ahead
Replies: 8
Views: 1686

Re: Finance advice for 35 year old trying to plan ahead

You are in great shape. Your $24,000 per year rent split with your SO is a bargain. I would keep that housing arrangement for as long as you are happy. If you think you will need to buy the primary home within the next 5 to 10 years in your HCLA then I think you should be saving your $60,000 per yea...
by NYCguy
Sun Aug 19, 2018 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Health Check at 30. What Can I Do To Improve?
Replies: 23
Views: 2771

Re: Health Check at 30. What Can I Do To Improv

47Percent wrote:
Sat Aug 18, 2018 10:52 pm
Lose the crypto. (only because you asked)
+1.

I own some crypto for professional reasons but I would not call it an investment. Rank speculation. IMHO it represents way too much as a percentage of your net worth.

Congratulations on your success.
by NYCguy
Sun Aug 19, 2018 1:46 pm
Forum: Investing - Help with Personal Investments
Topic: Mortgage Tradeoffs - What Would you do?
Replies: 16
Views: 985

Re: Mortgage Tradeoffs - What Would you do?

Pay it off when the bank opens tomorrow.
by NYCguy
Sun Aug 19, 2018 11:02 am
Forum: Personal Consumer Issues
Topic: San Diego - where to stay, what to do with 6 year old
Replies: 30
Views: 2239

Re: San Diego - where to stay, what to do with 6 year old

I did two days at Legoland with my son when he was 8 and that was more than enough for me and was enough for him. We stayed at the hotel on property and it was convenient and fun but not inexpensive. We did a third day split between the zoo and sailing in the harbor on a small charter called stars a...
by NYCguy
Sun Aug 19, 2018 10:42 am
Forum: Investing - Theory, News & General
Topic: Do You Believe Diversification Is The Right Strategy Only If The Investment Horizon Is Long?
Replies: 28
Views: 2271

Re: Do You Believe Diversification Is The Right Strategy Only If The Investment Horizon Is Long?

Random Walker: Love your posts. Shorter time horizon and less diversification equals less investing and more speculation. Shorter time horizon and less speculation requires less investments and more safe savings. I do not think identifying factors, non-correlated assets or concentrations within ris...
by NYCguy
Sun Aug 19, 2018 8:03 am
Forum: Investing - Theory, News & General
Topic: Do You Believe Diversification Is The Right Strategy Only If The Investment Horizon Is Long?
Replies: 28
Views: 2271

Re: Do You Believe Diversification Is The Right Strategy Only If The Investment Horizon Is Long?

Random Walker: Love your posts. Shorter time horizon and less diversification equals less investing and more speculation. Shorter time horizon and less speculation requires less investments and more safe savings. I do not think identifying factors, non-correlated assets or concentrations within risk...
by NYCguy
Sun Aug 19, 2018 6:58 am
Forum: Investing - Theory, News & General
Topic: "Don't Obsess About Expense Ratios"
Replies: 240
Views: 22127

Re: "Don't Obsess About Expense Ratios"

I have approximately $10 million split evenly between Fidelity and Vanguard. Part of how I have accumulated so much investment assets has been because I pay attention to tax efficiency and expenses. An extra 4 basis points on $5 million at Vanguard costs me and additional $2,000 a year for the privi...
by NYCguy
Fri May 18, 2018 9:25 pm
Forum: Personal Consumer Issues
Topic: how do you tip on wine at a restaurant
Replies: 209
Views: 14056

Re: how do you tip on wine at a restaurant

22%+ on the full pre-tax bill and I regularly enjoy expensive wines. I pay for the entire experience and enjoy myself. I like to bee generous to all servers. It is part of the joy.
by NYCguy
Thu May 17, 2018 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage decision killing me
Replies: 52
Views: 7347

Re: Mortgage decision killing me

I strongly encourage you to consider the 7-1 ARM for two reasons. 1. In seven years you should be able to prepay in excess of 50% of the balance so if there is a rate increase it is on a lower amount and you benefit from a rate cap. 2. You also have substantial others financial assets to pay off the...
by NYCguy
Wed Mar 21, 2018 10:04 pm
Forum: Investing - Theory, News & General
Topic: Skin In The Game [new N. Taleb book]
Replies: 23
Views: 4382

Re: Skin In The Game [new N. Taleb book]

I read " The Black Swan" which I thought was interesting and got me to read more of his books. I read "Fooled by randomness" such a better book and I loved it. "Anti fragility" was the same refrain all over again and Taleb is feeling his oats. Not a good thing. A downer. So I bought" Skin in the ga...
by NYCguy
Sat Mar 17, 2018 11:09 pm
Forum: Personal Consumer Issues
Topic: Soft boxer shorts for men
Replies: 28
Views: 3242

Re: Soft boxer shorts for men

Tommy John’s are pricy but great.
by NYCguy
Sat Mar 03, 2018 3:33 pm
Forum: Investing - Theory, News & General
Topic: Retail vs. Institutional Investing
Replies: 9
Views: 1198

Re: Retail vs. Institutional Investing

As someone who has spent a career in institutional finance, in my view, there is zero value added and the opportunity for excessive fees, hidden risks and tax inefficiencies in the approach you describe. There’s something psychologically appealing having your money managed by “institutional investor...
by NYCguy
Tue Feb 20, 2018 3:21 pm
Forum: Personal Consumer Issues
Topic: Bogleheads with $100K+ MSRP cars?
Replies: 113
Views: 14874

Re: Bogleheads with $100K+ MSRP cars?

I have a Porsche 991 GT3. I bought it 2 years old with 2k miles, but it was only about $5k below MSRP. Prices have dropped ~10-15% since the new 991.2 came out though. It's an incredible addiction. Before my winfall I bought a new 2011 Challenger, first new car I've ever bought for myself (at 35yo)...
by NYCguy
Mon Feb 19, 2018 5:45 pm
Forum: Investing - Help with Personal Investments
Topic: Late 20's female looking for some advice towards financial independence
Replies: 31
Views: 4520

Re: Late 20's female looking for some advice towards financial independence

Hi folks, This is kind of long, but I need your help with this decision because my relatives tell me I should just marry and have kids and trust my "children and prayer" to take care of me in old age (as opposed to retirement savings). I am 28 years old, living in the Pacific Northwest. For the pas...
by NYCguy
Mon Feb 19, 2018 11:39 am
Forum: Personal Finance (Not Investing)
Topic: I think we can swing this! ($1M retirement home)
Replies: 27
Views: 3743

Re: I think we can swing this! ($1M retirement home)

The numbers work but be mindful of the risk that you will not be able to sell your current house in a timely manner and net the $400k.
by NYCguy
Sun Feb 18, 2018 4:02 pm
Forum: Personal Consumer Issues
Topic: Bogleheads with $100K+ MSRP cars?
Replies: 113
Views: 14874

Re: Bogleheads with $100K+ MSRP cars?

TimeMan wrote:
Sun Feb 18, 2018 3:45 pm
NYCguy wrote:
Sun Feb 18, 2018 3:13 pm

My wife actually suggested I upgrade to the new GT3 but considering the higher MSRP and the market adjustment, I'm super happy with my "old" 2015! :)
Your wife is a keeper. :D
by NYCguy
Sun Feb 18, 2018 3:13 pm
Forum: Personal Consumer Issues
Topic: Bogleheads with $100K+ MSRP cars?
Replies: 113
Views: 14874

Re: Bogleheads with $100K+ MSRP cars?

I have a Porsche 991 GT3. I bought it 2 years old with 2k miles, but it was only about $5k below MSRP. Prices have dropped ~10-15% since the new 991.2 came out though. It's an incredible addiction. Before my winfall I bought a new 2011 Challenger, first new car I've ever bought for myself (at 35yo)...
by NYCguy
Sun Feb 18, 2018 10:39 am
Forum: Personal Consumer Issues
Topic: Bogleheads with $100K+ MSRP cars?
Replies: 113
Views: 14874

Re: Bogleheads with $100K+ MSRP cars?

I'd be interested to see who in this group owns a car with a MSRP of $100K or greater. We preach living below our means, but from some of these car threads, I see plenty of people driving very nice cars! What is the car and why did you buy it? I'll start, I bought a 2007 Porsche 911 Turbo, MSRP on ...
by NYCguy
Sun Feb 11, 2018 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Family expecting “comps”
Replies: 38
Views: 5499

Re: Family expecting “comps”

The nerve of people! They choose to come into your business and then expect you to comp them? And then when you don’t they get up in your grill about it? It sounds like you have been more than generous.

Unfortunately I think you need to move on from these “family members“.
by NYCguy
Mon Jan 29, 2018 9:54 pm
Forum: Personal Consumer Issues
Topic: Men's MUST iron dress shirt recommendations
Replies: 49
Views: 5620

Re: Men's MUST iron dress shirt recommendations

Just ordered five proper cloth dress shirts this weekend. Their product is terrific.
by NYCguy
Sun Jan 28, 2018 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: The biggest problem in retirement is spending (not)
Replies: 118
Views: 12024

Re: The biggest problem in retirement is spending (not)

... Others may feel the need to hold on to wealth as a form of self-insurance instead of acquiring an annuity to deal with a number of life’s uncertainties, such as longevity risk... Horse business. Annuitizing a portion of your portfolio at retirement is actually a strategy which allows one to pre...
by NYCguy
Sun Jan 28, 2018 12:24 pm
Forum: Personal Consumer Issues
Topic: WHY do wireless routers need periodic reboots?
Replies: 117
Views: 10263

Re: WHY do wireless routers need periodic reboots?

Most consumer grade routers are just poorly designed. This is common behavior and suggestions to load open source alternatives such as DD-WRT or Tomato won't fix the underlying hardware. I've been down this road. If you have even a modest technical background, I suggest buying one of these instead:...
by NYCguy
Sat Jan 27, 2018 8:43 pm
Forum: Investing - Help with Personal Investments
Topic: "Muni Bonds Time Bomb" Barron's
Replies: 48
Views: 6497

Re: "Muni Bonds Time Bomb" Barron's

This is clearly a problem, question is when.
by NYCguy
Fri Jan 26, 2018 11:36 pm
Forum: Investing - Theory, News & General
Topic: When did the bad news start in 2008?
Replies: 135
Views: 14678

Re: When did the bad news start in 2008?

August 2007 when the asset backed CP market went sideways.
by NYCguy
Fri Jan 26, 2018 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Quicken's future direction - a cause for concern
Replies: 516
Views: 78991

Re: Quicken's future direction - a cause for concern

Just a datapoint to share here, since my similar comment keeps getting deleted on the Quicken Community site. A few days ago, Quicken released an update (R15.13) for Quicken 2017 that has caused many financial institutions to stop updating for several days. Several users have posted problems relate...
by NYCguy
Thu Jan 25, 2018 10:34 pm
Forum: Investing - Theory, News & General
Topic: Podcast suggestions
Replies: 6
Views: 1156

Re: Podcast suggestions

Death, Sex and Money is running a series on class this week. This crowd may find it interesting.
by NYCguy
Thu Jan 25, 2018 10:31 pm
Forum: Personal Consumer Issues
Topic: Buying This Week: IPhone X or IPhone 8 Plus
Replies: 35
Views: 3942

Re: Buying This Week: IPhone X or IPhone 8 Plus

I have had both the 8 Plus and X. Both are excellent but I prefer the X.
by NYCguy
Fri Jan 19, 2018 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Automation of Net Worth Tracking
Replies: 6
Views: 1115

Re: Automation of Net Worth Tracking

Quicken. I have used it to track spending, debt, assets, liabilities and investments for over 20 years. It is excellent.
by NYCguy
Wed Jan 17, 2018 9:08 pm
Forum: Investing - Theory, News & General
Topic: Amazing how much your IPS can de-stress your life
Replies: 29
Views: 4823

Re: Amazing how much your IPS can de-stress your life

I wrote my initial IPS over 15 years ago. It was one of the smarter investment decisions I’ve made.

I review it frequently. Provided me an excellent roadmap to prosper during the financial crisis.
by NYCguy
Sun Jan 14, 2018 7:06 pm
Forum: Personal Finance (Not Investing)
Topic: Budgeting Vs Savings Rate
Replies: 65
Views: 5369

Re: Budgeting Vs Savings Rate

[/quote] Also, saving 50% of gross is not really a meaningful number. You might make $1,000,000/yr and are spending $500,000/yr while saving $500,000/yr. I would say anyone spending $500,000/yr has some waste in there. That may or not really matter in the grand scheme of things, but you should give ...
by NYCguy
Fri Jan 12, 2018 10:31 pm
Forum: Personal Consumer Issues
Topic: Men's MUST iron dress shirt recommendations
Replies: 49
Views: 5620

Re: Men's MUST iron dress shirt recommendations

I traded in my British shirtmakers for Proper Cloth. Highly. Recommend.
by NYCguy
Sun Dec 31, 2017 8:50 am
Forum: Personal Consumer Issues
Topic: I Want to Buy a Horrible, Expensive Car
Replies: 155
Views: 11929

Re: I Want to Buy a Horrible, Expensive Car

Go for it if you want it. You can afford it. I am 4 years into a Cayenne and LOVE the truck . I'm trying to understand how a Cayenne could be confused with a truck. I have a friend with a Cayenne. When I see him, I say "nice mini van". He's not amused and lately shows up in his Elise instead. I was...
by NYCguy
Sat Dec 30, 2017 8:41 am
Forum: Personal Consumer Issues
Topic: I Want to Buy a Horrible, Expensive Car
Replies: 155
Views: 11929

Re: I Want to Buy a Horrible, Expensive Car

Go for it if you want it. You can afford it. I am 4 years into a Cayenne and LOVE the truck. The Cayenne is really nice. I've been in a few and found them to be amazing driving machines given the size. But I'd feel bad getting fish guts and the like on it. No reason to feel bad. Get the rubber deck...
by NYCguy
Sat Dec 30, 2017 12:00 am
Forum: Personal Consumer Issues
Topic: I Want to Buy a Horrible, Expensive Car
Replies: 155
Views: 11929

Re: I Want to Buy a Horrible, Expensive Car

Go for it if you want it. You can afford it. I am 4 years into a Cayenne and LOVE the truck.
by NYCguy
Thu Dec 28, 2017 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Another should i buy my dream porsche thread...
Replies: 240
Views: 14768

Re: Another should i buy my dream porsche thread...

I'm surprised there are so many "yes do it" from this conservative board. I'm the same age as the OP, have less than half his (current) income, and have almost 3x the retirement savings. The rush to pay off the house doesn't make sense considering the relatively cheap borrowing environment. I would...
by NYCguy
Tue Dec 26, 2017 8:33 pm
Forum: Investing - Theory, News & General
Topic: Will you take this Fidelity bait ?
Replies: 126
Views: 15884

Re: Will you take this Fidelity bait ?

Yes and I did and I would like to say: "Fidelity bring on the bait. I will happily bite. Thank you." I will ride it every year till they do not offer it anymore. I am one of those people who picks up pennies in front of steamrollers and hope I am safe because "I am buy and hold" but can not resist ...