Search found 312 matches

by NYCguy
Sat Aug 24, 2019 10:58 pm
Forum: Investing - Theory, News & General
Topic: A theory of one's general investing mindset: 'Good enough' or 'Optimize'
Replies: 122
Views: 4217

Re: A theory of one's general investing mindset: 'Good enough' or 'Optimize'

I consider myself generally to be an investing optimizer but am in the three fund camp more or less. I reject the notion that the factor camp is actual optimizing. My suspicion is that it is scratching an itch to feel like one is doing something, but whether it helps or hurts is difficult to measure...
by NYCguy
Sat Aug 24, 2019 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Do you sacrifice to save?
Replies: 66
Views: 4730

Re: Do you sacrifice to save?

I earned my way out of feeling like I sacrifice or actually sacrifice for anything. My income has gone crazy particularly in the past 5 years and I definitely have allowed lifestyle creep: expensive cars, high end travel, charity, private schools. For many years I gladly sacrificed current consumpti...
by NYCguy
Thu Aug 22, 2019 8:11 am
Forum: Personal Investments
Topic: When Did You Ease Up On Saving Aggressively?
Replies: 170
Views: 12737

Re: When Did You Ease Up On Saving Aggressively?

Easing up on savings means you need more savings. Let’s pretend you make $100,000 and are saving $45,000/yr meaning you’re spending $55,000/yr. 25x of $55,000 is $1,375,000. If you decide to cut back your savings to 20% and increase your spending to $80,000/yr 25x is now $2,000,000. Congrats on hav...
by NYCguy
Thu Aug 22, 2019 7:02 am
Forum: Personal Finance (Not Investing)
Topic: White collars- How much is your work downtime?
Replies: 174
Views: 11801

Re: White collars- How much is your work downtime?

Like some other posters, I was genuinely perplexed by the question, but now that I think I understand it, here goes. Like many, the split between downtime at work and work time away from the physical office is artificial for me. My business requires a 24/7/365 engagement. Sometimes I am putting in w...
by NYCguy
Wed Aug 21, 2019 7:37 am
Forum: Personal Consumer Issues
Topic: Quicken update headaches
Replies: 17
Views: 1068

Re: Quicken update headaches

If you have the subscription model (how do you not know), it is always current, so you have the 2019 version. Sometimes the update changes the datafile. They require logging in regularly, this is not new. Unfortunately, doing things without knowing their impact can result in issues. Uninstalling th...
by NYCguy
Tue Aug 20, 2019 9:20 pm
Forum: Investing - Theory, News & General
Topic: Vanguard's "Bogle Site" gone? Hopefully just a glitch.
Replies: 49
Views: 8803

Re: Vanguard's "Bogle Site" gone? Hopefully just a glitch.

Thought more Bogleheads would be upset! John Bogle is one of the greatest men of his time and I will always honor him. But Vanguard is not John Bogle and I measure Vanguard by the price, tax efficiency and quality of its offerings. By that measure, I am a satisfied customer today. Hopefully Vanguar...
by NYCguy
Mon Aug 19, 2019 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: Close on first home on Wednesday, might not take possession until 30 days... advice please
Replies: 48
Views: 3560

Re: Close on first home on Wednesday, might not take possession until 30 days... advice please

OP: RELAX! It is highly likely everything is going to be OK. Yes, talk to your insurance broker and make sure you have proper coverage day one. The fact your contract says they have to maintain condition until possession is very helpful. In the unlikely circumstance they actually destroy the house ...
by NYCguy
Mon Aug 19, 2019 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Close on first home on Wednesday, might not take possession until 30 days... advice please
Replies: 48
Views: 3560

Re: Close on first home on Wednesday, might not take possession until 30 days... advice please

OP: RELAX! It is highly likely everything is going to be OK. Yes, talk to your insurance broker and make sure you have proper coverage day one. The fact your contract says they have to maintain condition until possession is very helpful. In the unlikely circumstance they actually destroy the house i...
by NYCguy
Sun Aug 18, 2019 7:11 pm
Forum: Personal Consumer Issues
Topic: Ethernet, MoCA, House Wiring
Replies: 23
Views: 1790

Re: Ethernet, MoCA, House Wiring

I have had excellent results with both MOCA and powerline ethernet. That said, I would talk to other cable line installers regarding installing ethernet cables. I have seen miraculous installations across multiple floors in old houses. Truly impressive. And the price was in the hundreds of dollars. ...
by NYCguy
Sat Aug 10, 2019 11:56 pm
Forum: Personal Consumer Issues
Topic: My mortgagor wants to sell a slice of the land. Thoughts?
Replies: 97
Views: 6267

Re: My mortgagor wants to sell a slice of the land. Thoughts?

I am not so sure that the OP has the amount of veto power he thinks he has. Sure, if he takes the borrower to court, I am sure he can force his way. No questions there. However, the borrower can record a short plat and transfer of title without involving the OP, no problem. Just write up the approp...
by NYCguy
Sun Aug 04, 2019 5:58 pm
Forum: Personal Investments
Topic: Does it bug anyone else that Vanguard only has money market for cash?
Replies: 101
Views: 8419

Re: Does it bug anyone else that Vanguard only has money market for cash?

The repos are of the same type government securities. There is highly theoretical settlement risk. If that corner of the repo market fails, the end is here but even in that scenario the Fed MM is as or more likely to pay and be liquid IMHO. As others have noted the FDIC will gate withdrawals. if ei...
by NYCguy
Sun Aug 04, 2019 8:38 am
Forum: Investing - Theory, News & General
Topic: A Note on Margin Accounts: Rehypothication Risk
Replies: 13
Views: 925

Re: A Note on Margin Accounts: Rehypothication Risk

I don't think people who have accounts consisting solely of fully paid securities should be worried. I don't think they should rescind their margin agreements. Margin is useful. I enable it at every broker that offers it. I find a margin account very useful to help avoid trading violations. Yes. In...
by NYCguy
Sun Aug 04, 2019 8:30 am
Forum: Personal Investments
Topic: Does it bug anyone else that Vanguard only has money market for cash?
Replies: 101
Views: 8419

Re: Does it bug anyone else that Vanguard only has money market for cash?

If this is what is giving you pause over Vanguard, I suggest this is the tail waging the dog. If this really bothers you move your money out of the sweep account to a bank. It is a PITA but that’s what I do to put short term money in the NY MM account. Why do you say this is a PITA? I can move mone...
by NYCguy
Sun Aug 04, 2019 8:26 am
Forum: Personal Investments
Topic: Does it bug anyone else that Vanguard only has money market for cash?
Replies: 101
Views: 8419

Re: Does it bug anyone else that Vanguard only has money market for cash?

Repurchase agreements collateralized by t-bills are as safe as t-bills. No they arent. The repos are of the same type government securities. There is highly theoretical settlement risk. If that corner of the repo market fails, the end is here but even in that scenario the Fed MM is as or more likel...
by NYCguy
Sun Aug 04, 2019 8:16 am
Forum: Personal Investments
Topic: Does it bug anyone else that Vanguard only has money market for cash?
Replies: 101
Views: 8419

Re: Does it bug anyone else that Vanguard only has money market for cash?

Because as others noted above, Fed MM may actually be safer than FDIC insurance. If this ever becomes a relevant question, we will all have much bigger problems. I disagree with this. FDIC insurance not coming through would require apocalyptic conditions, the MM having hiccups, not so much, just a ...
by NYCguy
Sat Aug 03, 2019 2:11 pm
Forum: Personal Investments
Topic: Does it bug anyone else that Vanguard only has money market for cash?
Replies: 101
Views: 8419

Re: Does it bug anyone else that Vanguard only has money market for cash?

Because as others noted above, Fed MM may actually be safer than FDIC insurance. If this ever becomes a relevant question, we will all have much bigger problems. I disagree with this. FDIC insurance not coming through would require apocalyptic conditions, the MM having hiccups, not so much, just a ...
by NYCguy
Sat Aug 03, 2019 11:20 am
Forum: Personal Investments
Topic: Does it bug anyone else that Vanguard only has money market for cash?
Replies: 101
Views: 8419

Re: Does it bug anyone else that Vanguard only has money market for cash?

Even though a current-day MM account might be exposed to similar or less risks on paper, it seems it's still susceptible to temporarily losing value in times of turmoil with no guarantee backing it's short-term value. When it comes down to it, why would I want a non-insured limbo account when it's ...
by NYCguy
Sat Aug 03, 2019 7:26 am
Forum: Personal Investments
Topic: Does it bug anyone else that Vanguard only has money market for cash?
Replies: 101
Views: 8419

Re: Does it bug anyone else that Vanguard only has money market for cash?

I'm not sure how they handle IRAs as I don't have one there currently (they do advertise FDIC insurance for them though), but for taxable, I think CMA is the only FDIC insured option. You can use it as a brokerage account. FCASH seems like it would be, but I asked support and it sounds like it's ba...
by NYCguy
Wed Jul 03, 2019 9:11 pm
Forum: Personal Consumer Issues
Topic: Does this car exist? Sexy convertible with a backseat
Replies: 53
Views: 3478

Re: Does this car exist? Sexy convertible with a backseat

MotoTrojan wrote:
Wed Jul 03, 2019 8:59 pm
ChinchillaWhiplash wrote:
Wed Jul 03, 2019 8:24 pm
Porsche 911 has small back seats. I used a booster in mine when my daughter was little.
996 Turbo would be a killer ride for $30-$35K I imagine.
+1
by NYCguy
Sat Jun 29, 2019 6:56 am
Forum: Personal Finance (Not Investing)
Topic: Shopping for Mortgage - Question re ARMs
Replies: 16
Views: 1256

Re: Shopping for Mortgage - Question re ARMs

You need a safety valve and you may have one. I faced a similar analysis and chose a 3/1 ARM. Additional key factors for me were after three years what is the maximum reset (I think mine was 75 basis points) per year). What is the lifetime rate cap? I think mine was 7%. I planned to pay off my mortg...
by NYCguy
Sun Jun 23, 2019 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1022
Views: 279093

Re: Share your net worth progression

zlandar wrote:
Sun Jun 23, 2019 10:18 am
2010: $768k
2011: $993k
2012: $931k
2013: $1.26m
2014: $2.04m
2015: $2.26m
2016: $2.84m
2017: $3.94m
2018: $4.05m
YTD: $4.67m
Well done, sir.

Would you mind sharing your after tax income and amount of income invested for each of those years?
by NYCguy
Sun Jun 16, 2019 9:53 am
Forum: Personal Investments
Topic: Professional in NYC - trying to figure out investment strategy
Replies: 27
Views: 4811

Re: Professional in NYC - trying to figure out investment strategy

Nice job. Looks like you’re thinking about your short to medium term financial needs (see your emergency fund and house savings fund) versus your long-term investment plan. For me that was a tricky balance starting out. My advice is to keep it simple. Read up on the three fund portfolio advocated he...
by NYCguy
Sat Jun 15, 2019 3:22 pm
Forum: Personal Investments
Topic: Arguments for getting more complex than three-fund portfolio? (portfolio review / first post)
Replies: 16
Views: 1458

Re: Arguments for getting more complex than three-fund portfolio? (portfolio review / first post)

Alan Roth‘s book, How a Second Grader Beats Wall Street, does a nice job addressing this topic. He addresses the merits of REITs and commodities in modest amounts to augment a three fund portfolio. If you want to complement the three fund portfolio with modest complexity it is worth considering. Per...
by NYCguy
Sat Jun 15, 2019 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken Data Privacy and Security
Replies: 4
Views: 432

Re: Quicken Data Privacy and Security

I am a long-time satisfied Quicken power user. I am generally security and privacy conscious. For example, I make sure my data files are encrypted and usually air gapped. I only run Quicken on a dedicated virtual machine. I am embarrassed to admit that I have not done a deep dive into: 1. Whether o...
by NYCguy
Sat Jun 15, 2019 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken Data Privacy and Security
Replies: 4
Views: 432

Quicken Data Privacy and Security

I am a long-time satisfied Quicken power user. I am generally security and privacy conscious. For example, I make sure my data files are encrypted and usually air gapped. I only run Quicken on a dedicated virtual machine. I am embarrassed to admit that I have not done a deep dive into: 1. Whether or...
by NYCguy
Sat Jun 15, 2019 10:20 am
Forum: Investing - Theory, News & General
Topic: Bogleheads vs Hedgefunds [or vs. venture capital]
Replies: 33
Views: 2564

Re: Bogleheads vs Hedgefunds

Having spent the past 25 years of my professional life working closely with hedge funds my view is they are as dangerous for investors as they are seductive. Hedge fund managers are incentivized to make asymmetrical bets. If the investment bet hits you will profit but share those profits with the ma...
by NYCguy
Sun Jun 09, 2019 3:36 pm
Forum: Personal Consumer Issues
Topic: I'm thinking about buying a supercar anyone here done this and feedback?
Replies: 241
Views: 14242

Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Congratulations on your extraordinary success at a young age. Beware of lifestyle creep. You may want to read about high beta rich and income volatility. I will add that it is an extraordinarily expensive and addictive hobby. The purchase price is just the beginning. Personally, I would let your wea...
by NYCguy
Sun Jun 09, 2019 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Life Strategy Vs. Investment Strategy
Replies: 14
Views: 1456

Re: Life Strategy Vs. Investment Strategy

All fair questions and problems. For many of us here being a Boglehead is a means to an end. I suggest that most of us are engaged in lifestyle and retirement planning and not engaging in pure investment strategy. When I was in my 20s my financial education focused more on investment strategy becaus...
by NYCguy
Sun Jun 09, 2019 8:59 am
Forum: Personal Finance (Not Investing)
Topic: Paying for rent is throwing away money...myth?
Replies: 302
Views: 19959

Re: Paying for rent is throwing away money...myth?

It is a total myth perpetrated by the housing industrial complex. The bromide has lead people to make poor decisions (both personal and financial). I marvel at how often it is expressed by intelligent people. Rent versus own is a math, personal finance and lifestyle preference analysis, in that orde...
by NYCguy
Mon May 13, 2019 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1022
Views: 279093

Re: Share your net worth progression

Finished college in 2008 2008: $40k 2009: $100k 2010: $200k 2011: $400k 2012: $620k 2013: $850k 2014: $1.15M 2015: $1.6M 2016: $2.1M 2017: $2.8M Today: $5.5M If you don’t mind sharing, what is your occupation and income history? Great job! Private equity and my wife works also and does well. Combin...
by NYCguy
Sun May 12, 2019 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1022
Views: 279093

Re: Share your net worth progression

LFKB wrote:
Sun May 12, 2019 2:02 pm
Finished college in 2008

2008: $40k
2009: $100k
2010: $200k
2011: $400k
2012: $620k
2013: $850k
2014: $1.15M
2015: $1.6M
2016: $2.1M
2017: $2.8M
Today: $5.5M
If you don’t mind sharing, what is your occupation and income history? Great job!
by NYCguy
Sun May 12, 2019 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Transferring out HSA in kind
Replies: 6
Views: 669

Re: Transferring out HSA in kind

I just completed a direct transfer from another HSA provider to Fidelity. It was pretty straightforward and painless. I recommend you call Fidelity and they will walk you through the online forms to complete the direct transfer. It looks like they’re set up to work with most large financial institut...
by NYCguy
Sun Apr 28, 2019 3:27 pm
Forum: Personal Consumer Issues
Topic: Which WAP to replace Airport Extreme - please no mesh recommendations
Replies: 116
Views: 5484

Re: Which WAP to replace Airport Extreme - please no mesh recommendations

If you have the IT/networking know how and inclination for taking on a small project, I'd second the recommendation above and look at moving over to prosumer-grade Ubiquiti Networks wireless gear. Their WAPs are priced anywhere from $50-300/each and support/prefer gigabit copper wired PoE backhaul....
by NYCguy
Sat Apr 27, 2019 11:44 pm
Forum: Personal Finance (Not Investing)
Topic: 80% Boglehead / 20% “Crazy”?
Replies: 24
Views: 2471

Re: 80% Boglehead / 20% “Crazy”?

The numbers are completely made up. I have no clue what a bank will realistically give someone who has $500K of capital and a *really good* opportunity. I mean that re: “really good opportunity”. Let’s assume this person really does want to succeed at this the “right way” and cultivates the opportu...
by NYCguy
Sat Apr 27, 2019 10:55 pm
Forum: Personal Finance (Not Investing)
Topic: 80% Boglehead / 20% “Crazy”?
Replies: 24
Views: 2471

Re: 80% Boglehead / 20% “Crazy”?

OP;

Sorry to be the bearer of bad news but this does not work.

You’re asking for a non-recourse deal where you put in the $500,000 of equity and it throws off $10-$20,000 per month profit?

I like your creativity.
by NYCguy
Sat Apr 27, 2019 4:20 pm
Forum: Personal Investments
Topic: Investing in a Broadway show production
Replies: 38
Views: 3656

Re: Investing in a Broadway show production

OP: I have several friends who regularly invest in Broadway productions. These are all ultra high net worth individuals. Several have never made any money in these investments and usually these investments go to zero. Some have had huge hits but it is extraordinarily rare. I recently passed on an in...
by NYCguy
Sat Apr 27, 2019 9:37 am
Forum: Personal Consumer Issues
Topic: replacement for Airport Express for music
Replies: 19
Views: 1137

Re: replacement for Airport Express for music

The most recent generation (ca. 2012 introduction) of Airport Express works wonderfully for music. I have three of them around the house. If you haven’t already done so, then you should install the firmware update that was released about a year ago, which added support for the Airplay 2 protocol. T...
by NYCguy
Fri Apr 19, 2019 5:39 pm
Forum: Investing - Theory, News & General
Topic: Home equity as % of AA
Replies: 41
Views: 3151

Re: Home equity as % of AA

Here are my rules for including a portion of home value in considering my asset allocation. 1. I own the house debt-free. 2. I would be willing to sell the house. 3. My replacement cost of housing is less than the net sale proceeds of my current house (such difference, “Excess Value“). I consider al...
by NYCguy
Sat Apr 13, 2019 6:09 pm
Forum: Personal Investments
Topic: Savings by 30?
Replies: 45
Views: 6116

Re: Savings by 30?

Esq123 wrote:
Sat Apr 13, 2019 5:41 pm
16 million?? Lol nice...hope you’re retired.
Nope. Two kids headed to college in the next few years, a great life and lifestyle and a solid business. Once we have launched the kids I will make changes. I admit it will be hard to walk away from the money even though we have more than enough.
by NYCguy
Sat Apr 13, 2019 5:37 pm
Forum: Personal Investments
Topic: Savings by 30?
Replies: 45
Views: 6116

Re: Savings by 30?

At age 30 I had a negative net worth of $30,000. I had a singular goal of finishing paying off my student loans. I was earning a little over $100,000 a year. Net worth today, 24 years later, is more than $16 million. Financially what mattered to me then and now is my savings rate percentage. I alway...
by NYCguy
Sat Apr 13, 2019 9:43 am
Forum: Investing - Theory, News & General
Topic: Post your Investment Policy Statement IPS here
Replies: 62
Views: 66809

Re: Post your Investment Policy Statement IPS here

I started my IPS about 15 years ago and it has evolved into a financial journal of sorts that I find historically educational and a defense against my worst financial instincts. Investment thinkers like Charlie Ellis and John Bogle lead me to the importance low-cost, tax efficient index investing an...
by NYCguy
Wed Apr 10, 2019 7:20 pm
Forum: Personal Finance (Not Investing)
Topic: Expenses in Quicken, Moneydance
Replies: 8
Views: 713

Re: Expenses in Quicken, Moneydance

I have been a Quicken user for many years. It is easy to track expenses and keep business expenses separate from personal. Tracking expenses, assets, liabilities, and investments over the past 20+ years is really valuable to me. My financial life has become fairly complicated and Quicken is a power ...
by NYCguy
Sat Mar 02, 2019 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: Intro and Personal Finance Advice
Replies: 55
Views: 5416

Re: Intro and Personal Finance Advice

Identify the behaviors that led to consumer debt and eliminate them. This is not a math nerd conversation which some of us on here have been since the day we were born so we don't always identify with folks who have had behavioral issues with money. The credit card debt should be treated like a hou...
by NYCguy
Sat Mar 02, 2019 11:17 am
Forum: Personal Consumer Issues
Topic: Experience with Apple Pay?
Replies: 71
Views: 6731

Re: Experience with Apple Pay?

I use it multiple times a day. I find it much faster than chip cards or cash and it’s very convenient. I’m also finding that in my area over half the stores I shop at take it and the number seems to be growing every month. I think this technology will eventually disrupt the credit card industry merc...
by NYCguy
Tue Jan 15, 2019 9:26 pm
Forum: Investing - Theory, News & General
Topic: Asset Allocation of the 0.1%
Replies: 31
Views: 4601

Re: Asset Allocation of the 0.1%

Private equity is very different from real estate. PE is the private ownership of operating companies around the world. Four years ago I decided to expand my asset allocation to include up to 10% of alternative investments. For me this will include private equity, some VC and perhaps some commercia...
by NYCguy
Mon Jan 14, 2019 11:17 pm
Forum: Investing - Theory, News & General
Topic: Asset Allocation of the 0.1%
Replies: 31
Views: 4601

Re: Asset Allocation of the 0.1%

Private equity is very different from real estate. PE is the private ownership of operating companies around the world. Four years ago I decided to expand my asset allocation to include up to 10% of alternative investments. For me this will include private equity, some VC and perhaps some commercial...
by NYCguy
Sun Jan 13, 2019 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken External Transfers
Replies: 20
Views: 747

Re: Quicken External Transfers

Try tracking investments in Quicken. It us awesome. And has the benefit of solving your problem.
by NYCguy
Sun Jan 13, 2019 4:06 pm
Forum: Investing - Theory, News & General
Topic: Is Fidelity Zero Fund BETTER than Fidelity Expense Ratio Fund
Replies: 58
Views: 9005

Re: Is Fidelity Zero Fund BETTER than Fidelity Expense Ratio Fund

My 2 cents is the zero funds are a gimmick to stay away from. Ask yourself why FIDO does not offer to exchange existing FIDO customers from the same higher ER FIDO funds to the new zeros? Blackrock has had similar BS gimmicks too. When VG lowers ER it does so for all customers. I trust VG to put my ...
by NYCguy
Sat Jan 12, 2019 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1022
Views: 279093

Re: Share your networth progression

1993 age 28 -$80k student loan debt 1997 $0 1999 $100k 2002 $400k 2005 $1 million 2007 $2 million 2010 $5 million 2014 $10 million 2016 $12 million Always saved 30-60% of after tax income. Blessed with great job though 24/7/365 commitment. Low cost, tax efficient index funds. Update 2017 $14.9 mill...
by NYCguy
Fri Jan 04, 2019 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1022
Views: 279093

Re: Share your networth progression

1993 age 28 -$80k student loan debt 1997 $0 1999 $100k 2002 $400k 2005 $1 million 2007 $2 million 2010 $5 million 2014 $10 million 2016 $12 million Always saved 30-60% of after tax income. Blessed with great job though 24/7/365 commitment. Low cost, tax efficient index funds. Update 2017 $14.9 mill...