Search found 60 matches

by financiallycurious
Tue Oct 06, 2020 10:27 am
Forum: Personal Investments
Topic: Should We Ever Save for Children's College?
Replies: 383
Views: 24787

Re: Should We Ever Save for Children's College?

There are some intangible benefits to saving in a 529 outside of the tax free growth. I like knowing that I've saved and earmarked funds specifically for college because providing my children with a debt-free college education is an important goal for me, and I like watching each fund grow with cont...
by financiallycurious
Wed Sep 23, 2020 10:05 am
Forum: Personal Investments
Topic: Overfund a 529 or put some in an UTMA?
Replies: 19
Views: 1064

Re: Overfund a 529 or put some in an UTMA?

What a gift! I wouldn't worry about the 529 plan being overfunded. The Vanguard college cost calculator, for example, assumes a 6% average annual return and 5% rate of annual cost increase. Using Vanguard's assumptions, $100,000 in today's dollars will be worth about ~$120,000 in 2038 dollars. I kno...
by financiallycurious
Mon Sep 21, 2020 12:13 pm
Forum: Personal Consumer Issues
Topic: Toddler Education
Replies: 43
Views: 2260

Re: Toddler Education

A little art easel and paints (and lots of floor covering), peg board and beads, tinker toys, magnet tiles, and there a ton of "STEM toys" for that age range that are fun. My favorite book for teaching reading is "Teach Your Child to Read in 100 Easy Lessons". Dragonbox Numbers is a great app on the...
by financiallycurious
Wed Sep 16, 2020 2:57 pm
Forum: Personal Investments
Topic: Prepay student loans OR megabackdoor Roth? (26 y/o in Biglaw; 190k salary; 180k debt)
Replies: 82
Views: 5092

Re: Prepay student loans OR megabackdoor Roth? (26 y/o in Biglaw; 190k salary; 180k debt)

Does the above at all affect your advice? If it doesn't affect your advice, then is that because you think it's unlikely that I'll be to fully psychologically equate the Roth IRA amounts with paying off my debt [if so, I think that that's a fair point] or is it instead for some other reason? I’m pr...
by financiallycurious
Wed Sep 16, 2020 10:50 am
Forum: Personal Investments
Topic: Prepay student loans OR megabackdoor Roth? (26 y/o in Biglaw; 190k salary; 180k debt)
Replies: 82
Views: 5092

Re: Prepay student loans OR megabackdoor Roth? (26 y/o in Biglaw; 190k salary; 180k debt)

I haven't read thru this whole thread, so take this with a grain of salt.....but as a former big law attorney myself, my advice: Pay off the debt as fast as you can. Look, you might end up ahead by investing. In fact, you probably will. But if the firm hits a rough patch (and I've been at firms tha...
by financiallycurious
Mon Sep 14, 2020 11:56 am
Forum: Personal Investments
Topic: How much are your 529 Contributions
Replies: 133
Views: 7567

Re: How much are your 529 Contributions

I’m curious- do you have a new number when you will stop contributing? Until I retire. If oldest kid's 529 account is overfunded, I'll use the difference for the younger one. We have a dual income house, and saving for college and increasing retirement savings is the biggest driver for me to contin...
by financiallycurious
Mon Sep 14, 2020 11:12 am
Forum: Personal Investments
Topic: How much are your 529 Contributions
Replies: 133
Views: 7567

Re: How much are your 529 Contributions

My paycheck is set up to make automatic contributions of $19,500 per year into my 401k and $30,000 per year into 2 different 529 plans (1 per kid). Older kid has about $135k in 529 plan and younger kid has about $40k. I was going to stop when each 529 account hit $100k, but since my husband and I bo...
by financiallycurious
Tue Aug 25, 2020 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Do you talk to your friends/family/coworkers about this stuff?
Replies: 210
Views: 16766

Re: Do you talk to your friends/family/coworkers about this stuff?

what are the 3 things again? agreement on politics/religion, finances, kids. don't get married otherwise!

There are ways to work around financial incompatibility, but no doubt it must be less stressful if all of your values line up with those of your partner, especially with regard to finances.
by financiallycurious
Mon Aug 24, 2020 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Do you talk to your friends/family/coworkers about this stuff?
Replies: 210
Views: 16766

Re: Do you talk to your friends/family/coworkers about this stuff?

I have no one to talk to about finances. My parents set a great example of LBYM, but they fear the market, so they have a house with no mortgage, no car loans or credit card debt, a nice business, cash and gold. I can't talk to my friends because at this point it is too late for them to catch up and...
by financiallycurious
Wed Jul 08, 2020 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Home Build - What to do with current house?
Replies: 7
Views: 955

Re: Home Build - What to do with current house?

What's your tax bracket? And what is the difference between your basis in the property and the amount you can sell it for? The free capital gain (IRS Section 523) can be quite valuable, depending on your tax rate and the amount of the gain. On the other hand, that is a very low mortgage rate, and if...
by financiallycurious
Wed Jul 08, 2020 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Landlords: How are you doing this year?
Replies: 149
Views: 18037

Re: Landlords: How are you doing this year?

I own two duplexes that I'd describe as "Class A" in a nice area that I rent for a good price to quality tenants. Two of the four tenants paid rent on time as always with no issues. I renewed both of their leases this summer with no rent increase, because I manage the properties myself on top of a f...
by financiallycurious
Tue Jun 23, 2020 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Any in-house counsel on here? What’s your experience like?
Replies: 19
Views: 4424

Re: Any in-house counsel on here? What’s your experience like?

I went from big law to in-house for a large asset manager to a small firm. My work life balance got progressively better with each move, and I honestly feel like I have the best legal job I could hope for right now. I still get paid plenty, though not as much as I would be earning in big law, and I ...
by financiallycurious
Thu Apr 23, 2020 10:22 am
Forum: Personal Consumer Issues
Topic: Which new kid's bike to buy online?
Replies: 42
Views: 1824

Re: Which new kid's bike to buy online?

I've bought all of my 9-year old's bikes used. My three favorite brands for reasonably priced kids bikes with suspension are trek, giant and norco (buy direct from any of their sites). We live in the mountains, and he is on trails all the time and definitely appreciates suspension and gears, and has...
by financiallycurious
Wed Feb 12, 2020 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Am I crazy to consider quitting my job?
Replies: 128
Views: 14301

Re: Am I crazy to consider quitting my job?

I'll keep everyone posted on our decision, and how it impacts our family, finances, etc. so anyone else who is struggling with this decision can benefit from it. I look forward to the update. It's such a personal decision, but since you already have 4 full days off to spend with your family and you...
by financiallycurious
Tue Feb 11, 2020 11:30 am
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 1759
Views: 228552

Re: Post your Financial Milestone Announcements Here

I hit $1m networth today net of home equity, 529 plans, and my husband's investments. :sharebeer
by financiallycurious
Tue Feb 04, 2020 1:32 pm
Forum: Personal Consumer Issues
Topic: How much does a nanny cost?
Replies: 25
Views: 2655

Re: How much does a nanny cost?

A full time nanny in my city is $15-30/hour depending on her experience and how many kids you have. Most people provide additional benefits including paid vacation and taxes add more to the total cost.
by financiallycurious
Wed Nov 20, 2019 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: At What Point Did You Realize You Made It?
Replies: 48
Views: 8729

Re: At What Point Did You Realize You Made It?

I'm just a bit older than you and have asked myself the same questions a few times, so I'll echo what others have said here: 1. You're doing awesome. 2. Yes. You should feel great and deserve to splurge a bit! Maybe go on a great trip to celebrate? 3. Not sure. I keep moving the goal posts from XX, ...
by financiallycurious
Wed Nov 13, 2019 12:02 pm
Forum: Personal Consumer Issues
Topic: Retired Boglehead obsession with money- devil's advocate
Replies: 84
Views: 13909

Re: Retired Boglehead obsession with money- devil's advocate

By this logic, in my mid-thirties I could stop saving in my 401k, because assuming 3-4% real growth on the existing balance, I would have well over $1m in today's dollars when I turn 70. Even if I only saved 5% in my 401k to get my employer match instead of $19,000 per year, that might mean the diff...
by financiallycurious
Wed Oct 30, 2019 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance $120k student loans before or after marriage?
Replies: 32
Views: 2134

Re: Refinance $120k student loans before or after marriage?

The only reason I wouldn't just pay off both your loans now or very soon is because you're either working on a prenup or you're just trying to keep your premarital assets and debt separate from her premarital assets and debt in case of a divorce. So maybe she should refinance now, and if you're stil...
by financiallycurious
Wed Oct 30, 2019 11:28 am
Forum: Personal Finance (Not Investing)
Topic: 529 - over saving?
Replies: 25
Views: 1493

Re: 529 - over saving?

For my oldest, I saved up to the full cost of our flagship state school (all in cost of tuition, fees, room & board and books) by saving $14-15k per year (gift tax limit) starting from the year my oldest was born and ending in first grade when the balance slightly exceeded the full cost of 4 years o...
by financiallycurious
Thu Sep 19, 2019 4:40 pm
Forum: Personal Consumer Issues
Topic: Best places to live to raise a family (cost doesn't matter)
Replies: 95
Views: 10026

Re: Best places to live to raise a family (cost doesn't matter)

Not sure where your interests lie, but I love raising my kids in our ski town and couldn't imagine leaving. We are outside doing something fun everything weekend (the baby is in a hiking backpack or a bike trailer (converted to a xc ski trailer in the winter) every weekend and many evenings, and the...
by financiallycurious
Tue Sep 03, 2019 1:26 pm
Forum: Personal Consumer Issues
Topic: What's your "philosophy" on youth sports?
Replies: 47
Views: 3002

Re: What's your "philosophy" on youth sports?

My "philosophy" is that my oldest needs to have some interest outside of school (a sport, musical instrument, coding, whatever) that he will focus on, practice everyday and become very good at. Right now he's still young and experimenting with several sports and that's okay, too, as long as he puts ...
by financiallycurious
Mon Aug 19, 2019 12:10 pm
Forum: Personal Investments
Topic: When Did You Ease Up On Saving Aggressively?
Replies: 171
Views: 15112

Re: When Did You Ease Up On Saving Aggressively?

I understand the OP’s sentiment because for me, current expenses include (i) cost of raising kids (will go away); (ii) college savings for the kids (will go away); and (iii) retirement savings (will go away once retired). I think I could save less aggressively and not really increase my retirement l...
by financiallycurious
Tue Aug 13, 2019 11:51 pm
Forum: Personal Consumer Issues
Topic: Buenos Aires - How many days?
Replies: 33
Views: 3369

Re: Buenos Aires - How many days?

It's been a while, but my favorite memories of Buenos Aires include, (1) a night of Tango, (2) a day trip to Motevideo, Uraguay, (3) a soccer match (I saw River v Boca and it was very fun), (4) a Polo match, and (5) a gaucho day where we went to a winery/ranch for some amazing BBQ and wine.
by financiallycurious
Thu Aug 01, 2019 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: A note on spending for kids
Replies: 148
Views: 12469

Re: A note on spending for kids

Hard to argue that it is a good bet to make a financial investment in an expensive sport as a way to save money on college. Where I and maybe others struggle is how much is a reasonable amount to spend on sports because they build positive character traits like discipline, work ethic, perseverance, ...
by financiallycurious
Wed May 29, 2019 10:24 am
Forum: Personal Consumer Issues
Topic: $3k for teen club soccer
Replies: 104
Views: 8305

Re: $3k for teen club soccer

I'm new to youth sports, but it seems like the coaching and competition is significantly better at the club level than the rec level, which is the reason we do it and started young with the club's U7 team. I've never thought of club sports as something we do as a "financial investment" to get a coll...
by financiallycurious
Thu May 16, 2019 1:11 pm
Forum: Personal Consumer Issues
Topic: Park City Utah Hiking
Replies: 26
Views: 2003

Re: Park City Utah Hiking

Timpanogos is a beautiful hike. I like to start it at 4 am and would recommend it as your one big hike. Another great hike is Wasatch Crest. On the weekend it will be heavily trafficked with mountain bikers, though. You can get a shuttle from the base of PCMR to the top of Guardsman and hike Wasatch...
by financiallycurious
Thu May 16, 2019 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Logistics of splitting tuition costs with child
Replies: 79
Views: 4461

Re: Logistics of splitting tuition costs with child

It sounds like you're already saving as much as you can between 18% to retirement, emergency fund savings, and $350/month per child into a 529 plan? If that's true, then I think you can take comfort in the fact that you seem to be saving at least 20% of your income annually and you've made a reasona...
by financiallycurious
Wed Apr 17, 2019 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: In Laws Retirement Nest Egg
Replies: 156
Views: 16095

Re: In Laws Retirement Nest Egg

For the people who worry about inlaws with 1M networth, a paid off house, frugal habits, and some SS income, how much money would the inlaws need to have before you would stop worrying? Good question. I think it comes down to a judgment call based on more than just account values. I don't worry at ...
by financiallycurious
Wed Apr 17, 2019 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: In Laws Retirement Nest Egg
Replies: 156
Views: 16095

Re: In Laws Retirement Nest Egg

I have anxiety about money and I understand your concerns. For now, maybe you could make sure that your savings are in the correct buckets so that you're not in a position to compromise your immediate family's financial security to help them if they do run out of money. For example, keep maxing out ...
by financiallycurious
Thu Apr 04, 2019 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Help! Having a Baby - Stay Home Cost analysis
Replies: 33
Views: 2655

Re: Help! Having a Baby - Stay Home Cost analysis

@leeks - I'm sure you're right. I also adjusted my math because I calculated 42% off $160,000 rather than $141,000 (since I contribute $19,000 to 401k). In fairness to both of our careers, we analyzed it applying our effective rate and our marginal rate, but it does make more sense to use our margin...
by financiallycurious
Thu Apr 04, 2019 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Help! Having a Baby - Stay Home Cost analysis
Replies: 33
Views: 2655

Re: Help! Having a Baby - Stay Home Cost analysis

I think financial considerations are relevant to “best interest of the child” type decisions. In our case, I’m the lower income spouse by quite a bit; however, but for my job, we probably wouldn’t save for our child to go to college, and I think that’s relevant to her best interests. And I want to m...
by financiallycurious
Thu Apr 04, 2019 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Help! Having a Baby - Stay Home Cost analysis
Replies: 33
Views: 2655

Re: Help! Having a Baby - Stay Home Cost analysis

I'd just like to throw out a pro-day care comment. My brother and sister in law are big law lawyers in NYC in good financial health. They could afford for either of them to stay home or they could afford to hire a nanny. However, they LOVE their day care for their 7-month old and wouldn't change a t...
by financiallycurious
Tue Mar 26, 2019 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Help with law school decision
Replies: 78
Views: 6448

Re: Help with law school decision

Iowa is a good choice in my opinion because there is a strong Iowa alumni network at the top Phoenix firms and she would incur the least amount of debt. Assuming she wants to practice in big law in Phoenix after graduation, as long as she finishes at or near the top 10% of her graduating class and m...
by financiallycurious
Wed Mar 20, 2019 12:48 pm
Forum: Personal Investments
Topic: 529 plan question: When did you change to more conservative AA?
Replies: 36
Views: 2420

Re: 529 plan question: When did you change to more conservative AA?

For my first grader, I have enough saved to cover the full cost of attendance at our flagship public university. I just reached that milestone this month, and so I switched the AA to 40/60 VTSMX/VBMFX. My goal is to keep up with tuition inflation and not lose money now. My baby is 100% VTSMX and I p...
by financiallycurious
Wed Mar 20, 2019 11:47 am
Forum: Personal Investments
Topic: Tax efficient strategy for a windfall that I don't need for 5+ years
Replies: 8
Views: 1158

Re: Tax efficient strategy for a windfall that I don't need for 5+ years

Thank you for the advice.

For a 5-year hold period, in the highest tax bracket, is VWITX generally better than just a high-yield online savings account (looks like I can get 2.45%)?
by financiallycurious
Tue Mar 19, 2019 2:07 pm
Forum: Personal Investments
Topic: Tax efficient strategy for a windfall that I don't need for 5+ years
Replies: 8
Views: 1158

Tax efficient strategy for a windfall that I don't need for 5+ years

How would you invest a windfall of $200,000 assuming (1) you're in the highest tax bracket; (2) you don't want to show any extra income on your tax return; (3) you're married, in your mid-thirties, both of you have good jobs and you don't need the money for at least 5 years, but early retirement aft...
by financiallycurious
Thu Jan 31, 2019 12:38 pm
Forum: Personal Investments
Topic: When Did You Move Your Goalposts?
Replies: 33
Views: 3033

Re: When Did You Move Your Goalposts?

My goalposts have moved in a very similar way as those of OP. My first goal was just to be a "millionaire", which I achieved pretty young thanks to aggressive early savings and no student loans. Now my goal is to be a millionaire with investments only, excluding 529 plans and my spouse's accounts, a...
by financiallycurious
Wed Nov 14, 2018 5:42 pm
Forum: Personal Consumer Issues
Topic: International Travel during Maternity/Paternity
Replies: 86
Views: 4564

Re: International Travel during Maternity/Paternity

We went to Paris and Prague for the last month of maternity/paternity leave for first baby. We rented an apartment in both cities, and spent our days walking around to museums with the baby in a carrier. We went to early dinners and it was a nice trip. I felt safe in both places. I don't regret it a...
by financiallycurious
Wed Nov 14, 2018 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Wait, do I need a prenup?
Replies: 63
Views: 7723

Re: Wait, do I need a prenup?

We both had a 7-figure net worth at time of marriage, and the advice I got from a trusted friend and estate lawyer was to document all account values at the time of marriage. The law generally protects premarital assets and divides marital assets in an equitable manner. To the extent possible, leave...
by financiallycurious
Mon Oct 22, 2018 4:03 pm
Forum: Personal Consumer Issues
Topic: PSA: Don't buy a big house
Replies: 248
Views: 28677

Re: PSA: Don't buy a big house

One option you might consider that worked for us is to replace all the bulbs in the home with LED lights when you move in or soon after (one electrician visit and get everything done at once up front). We used converter kits for some of the recessed lighting and replaced all the fixtures and put in ...
by financiallycurious
Wed Oct 03, 2018 12:50 am
Forum: Personal Consumer Issues
Topic: Your Favorite [Travel Destination] on Earth: Where and Why?
Replies: 184
Views: 22334

Re: Your Favorite [Travel Destination] on Earth: Where and Why?

Hiking the Kalalau Trail and camping on Kalalau beach
Skiing in Hokkaido
Teton National Park
Tabacon hot springs in Costa Rica at sunset
Machu Picchu at sunrise
Water skiing on the San Juan in Lake Powell
by financiallycurious
Tue Oct 02, 2018 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Adult kids getting help from parents
Replies: 36
Views: 2680

Re: Adult kids getting help from parents

My parents paid for college (all costs including housing), grad school (just tuition), and bought me my first car when I was 18. Since then, I haven't received or expected any financial help. I feel very grateful for the early help and now to be independent and comfortable. When we go out to eat we ...
by financiallycurious
Tue Aug 21, 2018 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Early Retirement: how to get a lease without income
Replies: 10
Views: 1962

Re: Early Retirement: how to get a lease without income

I own and just rented a duplex in a HCOL area to an unemployed person with a large trust fund. Without asking, with his rental application he sent me a copy of his account statement (including proof of monthly withdrawals), resume, diplomas, and references from his past 2 landlords, both of whom con...
by financiallycurious
Mon Aug 20, 2018 4:44 pm
Forum: Personal Consumer Issues
Topic: Second Career Abroad, Teaching ESL
Replies: 30
Views: 4594

Re: Second Career Abroad, Teaching ESL

I had a wonderful experience teaching English in Japan in between undergrad and grad school and love to recommend it to others (it was probably the best year of my life so far). The culture, food and language were all very interesting. The pay was pretty good; the program covered all housing and tra...
by financiallycurious
Wed Aug 15, 2018 11:16 am
Forum: Personal Investments
Topic: Retirement guidance for 38 yr old in Silicon Valley CA
Replies: 13
Views: 2636

Re: Retirement guidance for 38 yr old in Silicon Valley CA

You're in a great position. I wonder if you wouldn't end up in the best possible financial position 10 years from now if you and your husband can live in the same city full time with just one house? Even if one of you initially has a lower salary as a result of the move, it might still end up a win?...
by financiallycurious
Thu Aug 09, 2018 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Will you pay for your kids' college/graduate education?
Replies: 366
Views: 17876

Re: Will you pay for your kids' college/graduate education?

"We are already financially assisting my in-laws and are expecting to have to do the same with my parents very soon." We're in a similar position with our in-laws (and sibling-in-laws who don't help). It's interesting how you and your siblings have different priorities. I tend to viscerally side wit...
by financiallycurious
Mon Aug 06, 2018 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Will you pay for your kids' college/graduate education?
Replies: 366
Views: 17876

Re: Will you pay for your kids' college/graduate education?

My plan has been to save enough to cover the full cost of attendance (including room & board) at our best in state public university as quickly as possible, then stop 529 contributions and assume that at worst, the 529 plan will keep up with tuition inflation, and at best, the 529 plan will outperfo...