Search found 335 matches

by hightower
Fri Nov 24, 2017 1:41 pm
Forum: Investing - Help with Personal Investments
Topic: Anyone tired of the stock market going up?
Replies: 88
Views: 4213

Re: Anyone tired of the stock market going up?

I feel pretty similar. In fact, I just moved a small percentage of my portfolio to cash for this reason (3-4%). You have to keep your AA in a place where you feel comfortable. For me, I felt too exposed to equities and wanted to know I had some cash on hand for the next correction. I still left the ...
by hightower
Fri Nov 24, 2017 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Pay this off now or not?
Replies: 9
Views: 618

Re: Pay this off now or not?

Have you asked yourself the question in reverse? Would you take out a $100k loan at 2.6% interest rate to invest the money? I certainly wouldn't, but then I'm not a fan of debt. I would not either. I feel like I should get rid of it too, but I just want to make sure I'm thinking about this correctl...
by hightower
Fri Nov 24, 2017 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Pay this off now or not?
Replies: 9
Views: 618

Pay this off now or not?

Hi Folks, I want to get everyone's input on this. I'm 35 y/o, physician, wife and I bring in around 350k/yr right now. I have a mortgage and student loan debt. No other debt. Mortgage is very affordable for us (291k at 4% for 30 years on a ~500k house). LCOL area I have 101k of student loan debt at ...
by hightower
Fri Nov 24, 2017 8:25 am
Forum: Personal Consumer Issues
Topic: Geneology: finding the house a dead relative lived in.
Replies: 14
Views: 1057

Re: Geneology: finding the house a dead relative lived in.

Most major cities now have online searches of old city directories that were published yearly with the names, addresses, and often occupations of all of it's residents and businesses. They have been scanned in and can be searched online. So if you know the approximate dates and a name (often last na...
by hightower
Wed Nov 22, 2017 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance to 15-Year Fixed or Not?
Replies: 10
Views: 520

Re: Refinance to 15-Year Fixed or Not?

Do you plan on staying in your current home for awhile (15 years or more?). If so, then I would go ahead and refinance to a 15 year and get the lower, fixed rate. If you think there's a chance you'll move in the next 5 years or so, then just refinance to a 30 year. Either way, get out of the adjusta...
by hightower
Tue Nov 21, 2017 2:07 pm
Forum: Personal Consumer Issues
Topic: Trip to Hawaii - what do I need to know
Replies: 26
Views: 2348

Re: Trip to Hawaii - what do I need to know

For a first time visitor I think the Big Island is the place to start. We spent 2 weeks there on our first trip and absolutely loved every second of it. There's so many different things to see/do there. Lot's of different landscapes. Hawaii Volcanoes National Park is a must see. Green sand beaches, ...
by hightower
Mon Nov 20, 2017 5:15 pm
Forum: Personal Consumer Issues
Topic: Drive it till it dies. It died.
Replies: 54
Views: 5939

Re: Drive it till it dies. It died.

The transmission (CVT) went out in my 2010 Nissan Murano with 140K miles. It will cost $6,000 to replace the CVT at the dealership. I don't want to put anymore money into the car. I already spent $4,500 earlier this year. How do I sell a car that won't run if I don't trade it in at the dealership? ...
by hightower
Sun Nov 19, 2017 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey says don't use credit cards, even if you pay them off
Replies: 221
Views: 13063

Re: Dave Ramsey says don't use credit cards, even if you pay them off

Thanks for the great responses so far. I enjoy hearing everyone's take on this. One thing I tell myself when trying to justify credit card use vs paying cash that goes above and beyond the rewards points argument is that since everyone is paying with credit cards these days, retailers are forced to ...
by hightower
Sun Nov 19, 2017 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey says don't use credit cards, even if you pay them off
Replies: 221
Views: 13063

Dave Ramsey says don't use credit cards, even if you pay them off

This is from a segment 1 year ago https://www.youtube.com/watch?v=np5i5oWfqAo Do you all agree with Dave on this? He says that it's stupid to use credit cards even in situations where you use credit cards for rewards points (credit card hacking) and pay them off each month without paying any interes...
by hightower
Sun Nov 19, 2017 4:52 pm
Forum: Investing - Help with Personal Investments
Topic: Resident needs help with new moonlighting money
Replies: 5
Views: 586

Re: Resident needs help with new moonlighting money

My advice, that money would be far better served paying off your student loan debt. You're still a resident, so you can easily live off of your resident salary. You don't need to save that money for anything specific. That debt is bad and has high interest. The sooner you get rid of that the sooner ...
by hightower
Sun Nov 19, 2017 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Why I am not happy even with OK Net Asset
Replies: 38
Views: 3618

Re: Why I am not happy even with OK Net Asset

Net Asset (include primary residence ) : 1 to 1.2 million excluding primary residence it is ~ 800 k in mid 30s. Came from very poor family, my dad's paycheck was about $125 in 2003-2004 ( yes you are reading it right). Now it looks like I have made a good progress, but still not happy with my progr...
by hightower
Sun Nov 19, 2017 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: The valet smashed my Tesla into a brick wall!
Replies: 105
Views: 11498

Re: The valet smashed my Tesla into a brick wall!

Ouch! I'm very sorry this happened to you. Sounds like you are wealthy enough to afford it, so this isn't necessarily directed at you, but more of a general comment...it's things like this that prevent me from ever wanting to spend $100k+ on a car. Cars are prone to damage, sometimes big damage and ...
by hightower
Sun Nov 19, 2017 2:56 pm
Forum: Investing - Theory, News & General
Topic: Experience with 401K "Self Directed Brokerage Account"
Replies: 9
Views: 648

Re: Experience with 401K "Self Directed Brokerage Account"

I use my employer's self directed brokerage option. We have our 401k through Empower Retirement (used to be through Metlife and had the same option). My self directed account is with TD Ameritrade. It works great. I'm still sore about TDA getting rid of Vanguard commission free ETFs. I'm probably go...
by hightower
Sat Nov 18, 2017 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: To buy or not to buy...house buying question (budget)
Replies: 17
Views: 1662

Re: To buy or not to buy...house buying question (budget)

I've been reading through this forum recently and am learning quite a bit. I'm looking for a little bit of advice in buying a first home. I have high income, but that's only been the case for the past 2 years. My situation: My wife and I are both 35. She is pregnant with our first child. I live in ...
by hightower
Sat Nov 18, 2017 3:27 pm
Forum: Personal Consumer Issues
Topic: Upgrading a flight - what are your rules?
Replies: 40
Views: 3596

Re: Upgrading a flight - what are your rules?

We've got a upcoming family trip, for four of us. On the way out, we have a single/direct 8 hr leg. On the way back, we have a 7hr redeye flight back. Right now we've got basic economy booked, and have the option to upgrade to econ plus. The fliers are 5'10", 5'6", and 2 fliers are 5'2" in height. ...
by hightower
Sat Nov 18, 2017 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: Physician(s) changing Jobs - Advice
Replies: 25
Views: 4041

Re: Physician(s) changing Jobs - Advice

My initial gut response to the OP was to strongly consider sticking with the private practice position. I think this mostly is coming from the fact that right now in my own life the extra income potential seems wiser (I'm still paying off debt and trying to build wealth). But, after thinking about i...
by hightower
Fri Nov 17, 2017 7:58 pm
Forum: Personal Consumer Issues
Topic: Tesla truck unveil
Replies: 102
Views: 6453

Re: Tesla truck unnveil

This dog and pony show was a joke IMO. Total vaporware or worse. It is not a product yet or even close. The truck does not work and will not tow any real heavy loads any significant distance because the design is not done. It is years away. The truck shown has no cooling or radiator for the power t...
by hightower
Fri Nov 17, 2017 5:38 pm
Forum: Personal Consumer Issues
Topic: BMW to Chevy Bolt?
Replies: 30
Views: 2343

Re: BMW to Chevy Bolt?

Hi fellow bogleheads, I currently drive a 2012 BMW 335i coupe which comes off CPO warranty in 8 months from now. It has been a fairly reliable car, but has had about $5k in repairs under warranty. I am concerned about ongoing maintenance costs going forward. My local Chevy dealer has a 0 down 0 dri...
by hightower
Wed Nov 15, 2017 11:14 am
Forum: Personal Finance (Not Investing)
Topic: Sobering article for my 25 year old self
Replies: 57
Views: 6698

Re: Sobering article for my 25 year old self

I agree that the 50%+ savings target is probably more realistic for high earners. So is retiring early. It doesn't take as much of a sacrifice for me to save that aggressively. I feel like I'm living quite comfortably. As a physician, I aim to save more than 50% of what I make as well, but that's al...
by hightower
Tue Nov 14, 2017 5:57 pm
Forum: Investing - Help with Personal Investments
Topic: Rapidly pay down student loans prior to house?
Replies: 24
Views: 1570

Re: Rapidly pay down student loans prior to house?

U have done a great job saving so far. Absolutely agree that the best thing to do is get rid of your debt now. Even 5.5% refinanced is not a good rate IMO. You'll be so thankful you got rid of that debt as you get older.
by hightower
Tue Nov 14, 2017 10:40 am
Forum: Personal Finance (Not Investing)
Topic: 35 yr-old doc needs some wisdom
Replies: 49
Views: 10825

Re: 35 yr-old doc needs some wisdom

wow, a top tax bracket income solves so many problems. my initial reaction was that your net worth is crazy crazy low given your income. you are throwing away $12000 a year on a lease with a net worth of like ~$250k... but then I look at your income and... it just doesn't matter. it just doesn't. y...
by hightower
Mon Nov 13, 2017 11:47 pm
Forum: Personal Finance (Not Investing)
Topic: 35 yr-old doc needs some wisdom
Replies: 49
Views: 10825

Re: 35 yr-old doc needs some wisdom

OK, I would assume that your after-tax net income is circa $300k. My rules-of-thumb at any income level (worked well for me, retired at 55, now in my 70s, not an MD): 1. Save and invest 30% of after-tax income, i.e. $100k. You can include paying off principal (not interest!) on a home mortgage. 2. ...
by hightower
Mon Nov 13, 2017 11:38 pm
Forum: Personal Finance (Not Investing)
Topic: 35 yr-old doc needs some wisdom
Replies: 49
Views: 10825

Re: 35 yr-old doc needs some wisdom

Great thread! Thanks for updating us on the progress. You're doing very well overall. You certainly have a thing for expensive cars. I get it. I like cars too. But, when I really started to run the math on what I'd be giving up in terms of years of extra work needed to maintain that lifestyle, I sta...
by hightower
Mon Nov 13, 2017 5:09 pm
Forum: Investing - Theory, News & General
Topic: Regret of selling winning stocks early
Replies: 64
Views: 8576

Re: Regret of selling winning stocks early

So, back before I was a boglehead and did all kinds of stupid things with my money, I bought about 5k in Tesla stock when it was trading at $180/share. A few weeks went by and it went up to like 200/share and I thought wow this is great! Then it dropped again a few weeks later to 188, so I spooked a...
by hightower
Mon Nov 13, 2017 11:38 am
Forum: Personal Consumer Issues
Topic: Do you meditate?
Replies: 107
Views: 6510

Re: Do you meditate?

I've tried it on and off over the years but have never seemed to be able to get to grips with it. All it seems to achieve for me is that I get very sleepy! There's got to be a Boglehead way to do it - i.e. a simple method with which you can stay the course... would love to hear any practical tips y...
by hightower
Sun Nov 12, 2017 8:08 pm
Forum: Investing - Help with Personal Investments
Topic: Why pay cash for a car?
Replies: 179
Views: 14759

Re: Why pay cash for a car?

I paid cash for both of our cars. It just feels better. Adding another required montly payment to my plate doesnt feel right to me, regardless of the interest rate. More importantly though is that forcing yourself to pay cash helps prevent you from spending more than you can afford. Too many people ...
by hightower
Sat Nov 11, 2017 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Why NOT make more money?
Replies: 212
Views: 18188

Re: Why NOT make more money?

Real life example: My Father worked for 30+ years for the "telephone company". He retired in August of the year he turned 60 with more than enough money to do what he wanted to do. There was no family history of serious health problems in the family (his brothers and sisters are either still alive ...
by hightower
Sat Nov 11, 2017 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Why NOT make more money?
Replies: 212
Views: 18188

Re: Why NOT make more money?

My answer to this question is simple. The only time I think you should avoid trying to make more money is if the pursuit of that money is making you unhappy or preventing you from doing the things you enjoy. If you can continue to make money and enjoy your life at the same time, then there's no reas...
by hightower
Sat Nov 11, 2017 3:40 am
Forum: Investing - Help with Personal Investments
Topic: Criticize my portfolio please but have mercy on me
Replies: 21
Views: 2373

Re: Criticize my portfolio please but have mercy on me

You do not need a 200k emergency fund. You should probably not be upgrading your house either. You only have 100k saved for retirement? That's not good man. You need to fix that pronto. You will be depending on social security benefits if you don't boost your retirement savings by a lot. You haven't...
by hightower
Thu Nov 09, 2017 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: Alternative Minimum Tax and Turbo Tax
Replies: 10
Views: 617

Re: Alternative Minimum Tax and Turbo Tax

pmdonca wrote:
Thu Nov 09, 2017 2:20 pm
I do not know if the AMT applies to me. Will TurboTax let me know if I would need to pay the AMT?

How do I know if the AMT applies to me or not?

Thanks.

-Philip
I use turbotax every year. They tell u about AMT after u enter all your numbers.
by hightower
Thu Nov 09, 2017 8:57 pm
Forum: Personal Consumer Issues
Topic: Worth changing 40 gal. to 30gal. hot water tank?
Replies: 90
Views: 4709

Re: Worth changing 40 gal. to 30gal. hot water tank?

Go tankless! Well worth it. Will use a lot less energy than regular tank heaters. Ours is incredible and we never run out of water. You can't say that unless you know the usage and the infrastructure already in place. It's easy to spend many thousands of dollars just to prep an existing house for a...
by hightower
Thu Nov 09, 2017 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: tax calculator including AMT and state/city taxes (Turbotax not currently available)
Replies: 5
Views: 405

Re: tax calculator including AMT and state/city taxes (Turbotax not currently available)

I reviewed other threads on this but the conclusion seemed to be to enter scenarios into Turbotax. I just logged in and I can't do it there because they don't have 2017 setup yet and amending a 2016 return (the only way I know how to do an alternate scenario there) is no longer available without co...
by hightower
Thu Nov 09, 2017 8:07 pm
Forum: Personal Consumer Issues
Topic: Worth changing 40 gal. to 30gal. hot water tank?
Replies: 90
Views: 4709

Re: Worth changing 40 gal. to 30gal. hot water tank?

Go tankless! Well worth it. Will use a lot less energy than regular tank heaters. Ours is incredible and we never run out of water.
by hightower
Wed Nov 08, 2017 5:28 pm
Forum: Personal Consumer Issues
Topic: Coffee
Replies: 51
Views: 3873

Re: Coffee

Kona coffee is the bomb. The real stuff from the big island
by hightower
Wed Nov 08, 2017 7:19 am
Forum: Personal Finance (Not Investing)
Topic: How old are you and how much do you save for retirement a year
Replies: 151
Views: 12763

Re: How old are you and how much do you save for retirement a year

35 y/o physician So far this year we have saved 65k or so. We are aggressively paying off debt though. Once the debt pay off is over (9-12 months), we'll hopefully be saving at least 120k/yr or more if I can stand it. My plan is 1 year debt pay off, then another 4-5 years of aggressive savings/worki...
by hightower
Wed Nov 08, 2017 7:15 am
Forum: Personal Consumer Issues
Topic: DIY vs work extra and pay a pro
Replies: 37
Views: 2793

Re: DIY vs work extra and pay a pro

Hi, I usually enjoy DIY home improvement and vehicle maintenance projects but have recently become a little stressed out with all the work I'm having to do on my house. I'm in a field where I can work extra hours and make $50- $70/hour. I'm frugal and feel like I should always avoid hiring someone ...
by hightower
Wed Nov 08, 2017 7:11 am
Forum: Investing - Help with Personal Investments
Topic: Young(er) and starting to invest. HELP!
Replies: 6
Views: 501

Re: Young(er) and starting to invest. HELP!

If I could go back to my 29 year old self and do it all over, I would say pay off ALL debt before doing anything else. Start out debt free. Then, do as others have said, contribute to tax advantage accounts then taxable. As for buying a house, you two will be pulling in a ridiculous amount of money ...
by hightower
Wed Nov 08, 2017 5:26 am
Forum: Personal Finance (Not Investing)
Topic: Did we make it to "The 2 Comma Club"? Maybe not?
Replies: 21
Views: 3606

Re: Did we make it to "The 2 Comma Club"? Maybe not?

I do not want to include mortgage as I call it a housing expense (have to pay to live somewhere) and if I were to sell the house I will make some money and my NW will not be negatively impacted. Yes, you are a millionaire. But, this doesn't make any sense. Your home is a big part of your net worth....
by hightower
Wed Nov 08, 2017 5:02 am
Forum: Personal Consumer Issues
Topic: Fair Price for a Kitchen Remodel
Replies: 34
Views: 2941

Re: Fair Price for a Kitchen Remodel

Here's my two cents. I've done 2 full kitchen remodels in older homes that required everything, full gut jobs with demo, new electrical, plumbing, flooring, walls, cabinets, counters, sinks, and appliances. All work was DIY by me and my wife (except we didn't install the counters/sinks because the c...
by hightower
Tue Nov 07, 2017 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Okay to paint exterior brick?
Replies: 34
Views: 1773

Re: Okay to paint exterior brick?

Yes you can paint brick. Contact some local house painters for quotes. It's common practice and they can do a nice job.
by hightower
Tue Nov 07, 2017 12:27 pm
Forum: Investing - Help with Personal Investments
Topic: Financial Check up!
Replies: 12
Views: 1365

Re: Financial Check up!

Yeah if you bought during the downturn, now would be a great time to sell. You will do very nicely for yourself if you do. No one knows when another downturn will occur, but it would probably be a bit painful to see all this current equity go away.
by hightower
Tue Nov 07, 2017 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Poll-How much do you have in your HSA?
Replies: 50
Views: 4775

Re: Poll-How much do you have in your HSA?

I don't remember when I started ours. Probably 2012? We didn't put much in those first few years (I wasn't a boglehead). We use it for regular things like eye doctor visits, dentist visits, my wife's ob/gyn visits, had 2 ER visits over the last 5-6 years that took a chunk from it. Despite all that w...
by hightower
Tue Nov 07, 2017 8:41 am
Forum: Investing - Help with Personal Investments
Topic: Financial Check up!
Replies: 12
Views: 1365

Re: Financial Check up!

I'm not personally a fan of having that much skin in the real estate game. If it were me I'd sell 1 or 2 rentals and put more money in retirement accounts. But, if that's what you're into, that's fine. Just curious, did you own any property back during the 2008 housing crash? Just wondering if you'd...
by hightower
Tue Nov 07, 2017 8:22 am
Forum: Investing - Theory, News & General
Topic: Lowering taxes on business in the US
Replies: 17
Views: 1351

Re: Lowering taxes on business in the US

Well considering we know that most large US company's (such as Apple and Nike for instance) already shelter hundreds of billions of dollars in countries where they can avoid taxation, I don't see how giving them a tax cut at home is going to help matters much? http://www.bbc.com/news/world-us-canada...
by hightower
Tue Nov 07, 2017 8:16 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Advice - New, Small and Looking to Improve
Replies: 10
Views: 895

Re: Portfolio Advice - New, Small and Looking to Improve

Why would he pay off his current house if he's going to sell it in 5 years? You do need to refinance though. That's a terrible interest rate. Do you have credit score problems? How did you end up with such a bad interest rate? After refinancing, I would start ramping up your retirement savings over ...
by hightower
Mon Nov 06, 2017 7:12 am
Forum: Personal Finance (Not Investing)
Topic: Why make more money?
Replies: 134
Views: 12924

Re: Why make more money?

Lets just assume that you are healthy and financially OK. You have have 30x expenses in investments plus whatever socials security will eventually give you in some distant future. You have no debt and the kids college is covered. You don't live extravagantly, but you have enough to travel, eat out,...
by hightower
Mon Nov 06, 2017 7:10 am
Forum: Personal Finance (Not Investing)
Topic: Which Debt to Payoff First?!
Replies: 23
Views: 2023

Re: Which Debt to Payoff First?!

Hey Bogleheads, need some advice. My wife and I are receiving $30k (after tax) from an estate of a deceased family member. Would appreciate some advice on how to use it best. I am 31 and my wife is in her late 20s. We recently became parents (4 month old) and home owners. I work full time and my wi...
by hightower
Mon Nov 06, 2017 6:58 am
Forum: Personal Finance (Not Investing)
Topic: Term Life - Time to cancel?
Replies: 33
Views: 2756

Re: Term Life - Time to cancel?

So, I have been paying my premium since 1997 and I have not died yet. This year, the premium comes to $ 2,634.84 and delivers a benefit of $1,142,250.00. Will be turning 50 during the policy year. I have two young children but after all of these years spent not dying, I have acquired and reduced my...
by hightower
Sat Nov 04, 2017 9:36 pm
Forum: Investing - Help with Personal Investments
Topic: 36k Career Starter Loan
Replies: 30
Views: 1490

Re: 36k Career Starter Loan

A "career starter loan" should be renamed "career extender loan." Because all it will do is guarantee that you have to work at least that much longer! DO NOT TAKE OUT A LOAN JUST BECAUSE IT HAS A LOW INTEREST RATE! This is the dumbest financial move anyone could possibly make early in your career. ...
by hightower
Sat Nov 04, 2017 2:19 pm
Forum: Investing - Help with Personal Investments
Topic: 36k Career Starter Loan
Replies: 30
Views: 1490

Re: 36k Career Starter Loan

A "career starter loan" should be renamed "career extender loan." Because all it will do is guarantee that you have to work at least that much longer! DO NOT TAKE OUT A LOAN JUST BECAUSE IT HAS A LOW INTEREST RATE! This is the dumbest financial move anyone could possibly make early in your career. ...