Search found 337 matches

by NYCguy
Sat Apr 11, 2020 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Executive pay cut request: How to respond?
Replies: 130
Views: 12934

Re: Executive pay cut request: How to respond?

I am an entrepreneur. I make a 7 figure annual income. I built my own successful company. I don’t enjoy going to the expensive lawyers and accountants all that much. I may get more interesting advice when I post on bogleheads or on a forum in my industry. Sure, I may then bring forward some of thos...
by NYCguy
Sat Apr 11, 2020 4:50 pm
Forum: Personal Investments
Topic: Guys I Rebalanced (Moved Monies Out Of S&P 500)
Replies: 301
Views: 17822

Re: Guys I Rebalanced (Moved Monies Out Of S&P 500)

So you think you know better than the rest of the market No, I never said that. ......and are willing to bet your portfolio on it? That’s up to you. I’ll be buying (maybe even your shares). For it to get worse, expectations have to get worse. Expectations are pretty bad right now. Expectations are ...
by NYCguy
Sat Apr 11, 2020 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: Executive pay cut request: How to respond?
Replies: 130
Views: 12934

Re: Executive pay cut request: How to respond?

OP: Whether to accept the 25% cut depends upon 1. Whether you want a long term relationship with the company. 2. Whether you can find a replacement job in the current environment that you will be happy with from a work/comp perspective or whether you are ok with the company terminating you either as...
by NYCguy
Sun Apr 05, 2020 8:14 am
Forum: Personal Investments
Topic: Any high bracket investors dumping munis?
Replies: 127
Views: 9398

Re: Any high bracket investors dumping munis?

"I would say, think about why you get into munis to begin with. It’s got really low historical default rates and you get tax-free income. So, right now, with yields where they are, you have the ability to lock in some very nice yields to get that tax-free income. You can invest on a diversified bas...
by NYCguy
Tue Mar 31, 2020 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: House Buying Advice - Contract Already Signed
Replies: 39
Views: 3661

Re: House Buying Advice - Contract Already Signed

You definitely need to be represented by a lawyer. Do not listen to a RE agent or anyone else.

Have her explain the legal consequences/risks of breaching the contract and then make a decision.

Alternatively, take a long view and close on the house and you probably will be fine.
by NYCguy
Tue Mar 31, 2020 2:50 pm
Forum: Personal Investments
Topic: Wait a bit for TLH?
Replies: 10
Views: 837

Re: Wait a bit for TLH?

No reason to wait. Just do it now, and if the market does happen to drop again then just do it again then. +1. I happened to TLH earlier today, though I think there is a distinct possibility the market has another significant downward leg ahead. If it does, I will TLH again. If it doesn't, I will h...
by NYCguy
Sat Mar 28, 2020 6:21 pm
Forum: Personal Investments
Topic: Any high bracket investors dumping munis?
Replies: 127
Views: 9398

Re: Any high bracket investors dumping munis?

I moved seven figures from the Vanguard New York Long Term and Money Market funds to short term treasuries a few weeks ago. As I have posted over the years, I think there is muni risk in the long term and I am not taking that risk today given the severe financial stress New York faces.
by NYCguy
Thu Mar 12, 2020 6:34 pm
Forum: Investing - Theory, News & General
Topic: NY Times: Something Weird Is Happening On Wall Street
Replies: 5
Views: 2447

Re: NY Times: Something Weird Is Happening On Wall Street

This article was written before the Fed intervention, but normalcy has not returned. 1. Marking asset values remains difficult. Let’s see what tomorrow brings. 2. High quality muni bonds are falling in value despite the flight to quality in fixed income. My IPS calls for a switch to treasury funds w...
by NYCguy
Sat Dec 07, 2019 3:18 pm
Forum: Personal Investments
Topic: All munis for fixed income allocation in early retirement for roth conversion?
Replies: 42
Views: 1434

Re: All munis for fixed income allocation in early retirement for roth conversion?

Do you get any special treatment than paying tax for contribution and earnings in tax deferred when paying for long term care? In 2019, the IRS allows all taxpayers to deduct the total qualified unreimbursed medical care expenses for the year that exceeds 10% of their adjusted gross income. For 201...
by NYCguy
Sat Dec 07, 2019 3:02 pm
Forum: Personal Investments
Topic: All munis for fixed income allocation in early retirement for roth conversion?
Replies: 42
Views: 1434

Re: All munis for fixed income allocation in early retirement for roth conversion?

I can see that may seem attractive, but I think you are overlooking the fact that it completely changes the risk profile of your portfolio. This is NOT a choice between equally good portfolios. I would like to understand this point better. I understand the general rule to put bonds in tax-deferred ...
by NYCguy
Sat Dec 07, 2019 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Most "vanguard like" HSA provider
Replies: 30
Views: 2733

Re: Fidelity

Bogle7 wrote:
Tue Dec 03, 2019 6:56 pm
Fido.
Went from Optum Bank which I hated.
I was reasonably happy with Optum but moved to Fido earlier this year. It took about two weeks during which I was out of the market. Someone posted a strategy to avoid the transfer fee but I didn’t bother.
by NYCguy
Sat Dec 07, 2019 12:37 pm
Forum: Personal Investments
Topic: All munis for fixed income allocation in early retirement for roth conversion?
Replies: 42
Views: 1434

Re: All munis for fixed income allocation in early retirement for roth conversion?

I am keenly interested in others’ view of your question. I did a detailed analysis and reached the same conclusion. My observation in working with the tax calculators is that there is a significant benefit to managing your taxable income during the conversion years end it sounds like you are seeing ...
by NYCguy
Sun Oct 27, 2019 9:45 pm
Forum: Personal Investments
Topic: I’m done with index funds
Replies: 229
Views: 30261

Re: I’m done with index funds

OP, as someone who is in a similar financial situation, I’ve been pitched several times to use separately managed accounts. There is no way I would institutionalize a 70 basis point drag on my return for possible TLH benefits and introduce a material risk of tracking error to my portfolio. I’ve been...
by NYCguy
Sat Oct 26, 2019 6:09 pm
Forum: Personal Finance (Not Investing)
Topic: How much deferred maintenance would make you walk away from a home deal?
Replies: 30
Views: 2582

Re: How much deferred maintenance would make you walk away from a home deal?

Deferred maintenance sits somewhere on the spectrum from gut renovation to home in pristine condition. It is just a function of purchase price. Add the aggregate cost of all deferred maintenance to your purchase price and then ask yourself if it is fair value. Since maintenance is a hidden cost, ho...
by NYCguy
Sat Oct 26, 2019 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: How much deferred maintenance would make you walk away from a home deal?
Replies: 30
Views: 2582

Re: How much deferred maintenance would make you walk away from a home deal?

Deferred maintenance sits somewhere on the spectrum from gut renovation to home in pristine condition. It is just a function of purchase price. Add the aggregate cost of all deferred maintenance to your purchase price and then ask yourself if it is fair value.
by NYCguy
Wed Oct 09, 2019 10:20 pm
Forum: Personal Consumer Issues
Topic: Cold feet - Radiant subfloor heating question
Replies: 26
Views: 2602

Re: Cold feet - Radiant subfloor heating question

Tlmlb wrote:
Wed Oct 09, 2019 10:10 pm
Minnetonka slippers
I have installed it in two houses as part of major renovations. I absolutely love it. It works wonders for cold feet. You shouldn’t need another heating source with radiant heat. Talk to a contractor. I expect it will be expensive.
by NYCguy
Sat Sep 28, 2019 5:17 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 4396
Views: 1252502

Re: What Book Are You Currently Reading? Part VI

hi all, hopefully i can request recommendations here. looking for a non-fiction book that deals with the NYC scene of the 60's, 70's and/or 80's. perhaps having to deal with the punk scene, musicians, artists, Andy Warhol, the Hotel Chelsea, Basquiat, Haring, street art, etc. thanks! Boy did I just...
by NYCguy
Fri Aug 30, 2019 8:13 pm
Forum: Investing - Theory, News & General
Topic: How Bad was 2008, really?
Replies: 355
Views: 45478

Re: How Bad was 2008, really?

Like the REM song "it's the end of the world as we know it" It was pretty bad. Pretty Awful. Certainly some people came through very well! (I did, as I just hung on and fortunately my work and income was untouched). But entire businesses and maybe industries were devastated. Peoples' lives impacted...
by NYCguy
Fri Aug 30, 2019 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage / New House Financing Strategy??
Replies: 3
Views: 546

Re: Mortgage / New House Financing Strategy??

You may be a candidate for an unsecured bridge loan. If you have a relationship with a bank ask if they would give you a $500,000 unsecured loan for 90 to 180 days. Then you could make an all cash offer, assuming you have sold your current property. You should be able to get a conventional mortgage ...
by NYCguy
Fri Aug 30, 2019 9:47 am
Forum: Personal Consumer Issues
Topic: Electric razors
Replies: 25
Views: 2268

Re: Electric razors

I have purchased the Braun m60 and flagship series 7. I don’t like either of them. If you’d like to Remington you should go for it.
by NYCguy
Sun Aug 25, 2019 3:02 pm
Forum: Investing - Theory, News & General
Topic: A theory of one's general investing mindset: 'Good enough' or 'Optimize'
Replies: 297
Views: 14105

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

Seems like there is plenty of road kill on the path of optimization that would indicate otherwise. The path to “good enough” has plenty of thorns too. Portfolios entirely in CDs or short term bonds, portfolios lacking international diversification, etc are all examples of people saying “good enough...
by NYCguy
Sun Aug 25, 2019 11:07 am
Forum: Investing - Theory, News & General
Topic: A theory of one's general investing mindset: 'Good enough' or 'Optimize'
Replies: 297
Views: 14105

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

I have no problem with the Factor crowd. As an optimizer, I seriously considered it for several months. My conclusion was that it was unlikely to out or under perform a three fund portfolio but one may need to wait potentially several decades before knowing the answer. It seems a bit like Pascal's ...
by NYCguy
Sun Aug 25, 2019 11:01 am
Forum: Investing - Theory, News & General
Topic: A theory of one's general investing mindset: 'Good enough' or 'Optimize'
Replies: 297
Views: 14105

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

Seems like there is plenty of road kill on the path of optimization that would indicate otherwise. The path to “good enough” has plenty of thorns too. Portfolios entirely in CDs or short term bonds, portfolios lacking international diversification, etc are all examples of people saying “good enough...
by NYCguy
Sun Aug 25, 2019 9:08 am
Forum: Investing - Theory, News & General
Topic: A theory of one's general investing mindset: 'Good enough' or 'Optimize'
Replies: 297
Views: 14105

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

I'm an optimizer, in large part because I find it entertaining. (My nurse/physical trainer/fitness competitor girlfriend makes fun of me for pretending my financial interest is only responsible when I avoid medical check-ups, drink like a fish, etc.) What I don't understand is why satisficers spend...
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: 297
Views: 14105

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: 97
Views: 9206

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: 171
Views: 14728

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: 203
Views: 18661

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: 20
Views: 1633

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, but most material available at johncbogle.com
Replies: 59
Views: 12723

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: 3977

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: 3977

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: 24
Views: 2257

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: 7066

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: 9366

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: 1116

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: 9366

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: 9366

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: 9366

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: 9366

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: 9366

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: 9366

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: 3859

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: 1458

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: 1484
Views: 388202

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: 5122

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: 1680

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: 471

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: 471

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...