Search found 515 matches

by hightower
Mon Jan 14, 2019 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Getting a Mortgage when You can Pay Cash for a House
Replies: 156
Views: 7769

Re: Getting a Mortgage when You can Pay Cash for a House

As a banker who does a lot of mortgages, I advise most people in this situation (who are usually in their 50s or older) to pay cash for the house and/or to pay off their mortgages if they have the cash, especially if they are at or near retirement age or have obtained financial freedom (in other wo...
by hightower
Mon Jan 14, 2019 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Getting a Mortgage when You can Pay Cash for a House
Replies: 156
Views: 7769

Re: Getting a Mortgage when You can Pay Cash for a House

Hi. I’d appreciate it if anyone who has done this can chime in. Say you have 300k cash. That’s on top of other savings such as retirement accounts, taxable funds, and college funds for kids which are adequately funded and will continue to be adequately funded. You want to buy a house. You could pay...
by hightower
Mon Jan 14, 2019 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Another Home Affordability Thread
Replies: 31
Views: 3505

Re: Another Home Affordability Thread

Couple of thoughts... Can you afford to buy a house in the 1.5-1.7 m range on your income? Yes, with the proper down payment, you can afford to have a mortgage as big as 1.1 m. I use the 2X income rule for determining the size of a mortgage. However, SHOULD you do this is another question. How big o...
by hightower
Wed Dec 19, 2018 7:44 pm
Forum: Investing - Theory, News & General
Topic: Bull market is over, run for cover says Alan Greenspan
Replies: 41
Views: 6107

Re: Bull market is over, run for cover says Alan Greenspan

Alan Greenspan is 92. I recently saw him going into Neiman Marcus with his wife (Andrea Mitchell). He looked quite frail. He had a great run of being famous, but I don’t know why his views about financial markets are newsworthy now. Or at least actionable. Must be doing well! :moneybag He's 92 and ...
by hightower
Wed Dec 19, 2018 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: Are we in trouble?
Replies: 122
Views: 18246

Re: Are we in trouble?

This post is a great example of why the 2X mortgage size rule exists. At 370k/year you really shouldn't have more than a 700-800k mortgage. That would require a 400k downpayment on a house that expensive. Also, never buy a home in a new location without first renting for a year and making sure your...
by hightower
Wed Dec 19, 2018 7:11 pm
Forum: Investing - Theory, News & General
Topic: Why did you decide to change your asset allocation?
Replies: 45
Views: 1976

Re: Why did you decide to change your asset allocation?

I am curious what others have done and why when it come to changing your asset allocations (in particular, scaling back equity investments and how and why you did it). Why did you decide to change your AA? I would ask how you changed your AA, but I already found a lot of threads on that topic and r...
by hightower
Tue Nov 06, 2018 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Are we in trouble?
Replies: 122
Views: 18246

Re: Are we in trouble?

This post is a great example of why the 2X mortgage size rule exists. At 370k/year you really shouldn't have more than a 700-800k mortgage. That would require a 400k downpayment on a house that expensive. Also, never buy a home in a new location without first renting for a year and making sure your ...
by hightower
Sun Nov 04, 2018 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Deal fell through and didn't get escrow money.....
Replies: 56
Views: 5972

Re: Deal fell through and didn't get escrow money.....

Some close friends put their house on the market 9/1/18. Sale price was $299K and buyer put $3000 earnest money in escrow. Closing date was 10/25/18. That day came and went and the realtor released the $3000. back to the failed buyer who had purchased with a contingency that he sell his house. When...
by hightower
Fri Oct 12, 2018 11:58 am
Forum: Personal Consumer Issues
Topic: Dayton, Ohio -- Worth Visiting?
Replies: 39
Views: 3121

Re: Dayton, Ohio -- Worth Visiting?

I live in Cincinnati. If you're looking for a good place to stop for lot's of stuff to see and do, I recommend Cincinnati over Dayton for sure. However, the Airforce Base Museum in Dayton is pretty cool and worth a stop if you feel inclined.
by hightower
Fri Oct 12, 2018 11:54 am
Forum: Personal Consumer Issues
Topic: Black Friday is coming.. what's on your list?
Replies: 82
Views: 8191

Re: Black Friday is coming.. what's on your list?

I'm working an extra shift at my side hustle job. I plan on making extra dough and spending nothing. Now if I could only control my wife's spending, lol...
by hightower
Thu Oct 11, 2018 8:33 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 10061
Views: 1781864

Re: U.S. stocks in freefall

EVERYONE! SELL! SELL! SELL! Stocks are crashing! Get out now! Don't delay! Sell your entire portfolio asap!






So I can buy, buy, buy;)
by hightower
Tue Oct 02, 2018 4:32 pm
Forum: Personal Consumer Issues
Topic: Tipping
Replies: 55
Views: 4142

Re: Tipping

Why are people here against tips but then is accepted that charitable giving is ok? To me charity makes absolutely no sense. I don't like tipping but at least I can understand the reason behind it... (well, not really but at least it makes some sense). I'm not against tipping as a way to show grati...
by hightower
Tue Oct 02, 2018 4:24 pm
Forum: Personal Consumer Issues
Topic: Tipping
Replies: 55
Views: 4142

Re: Tipping

Tipping has it's roots in slavery. It's an American thing, born out of the post-civil war south, that isn't the norm outside of the US. I learned about the history of tipping when I first started traveling in Europe and was curious as to why it's not normal to tip over there. It's unfair to certain...
by hightower
Tue Oct 02, 2018 4:08 pm
Forum: Personal Consumer Issues
Topic: Tipping
Replies: 55
Views: 4142

Re: Tipping

Tipping has it's roots in slavery. It's an American thing, born out of the post-civil war south, that isn't the norm outside of the US. I learned about the history of tipping when I first started traveling in Europe and was curious as to why it's not normal to tip over there. It's unfair to certain ...
by hightower
Wed Sep 26, 2018 2:44 pm
Forum: Personal Consumer Issues
Topic: Acoustic Pianos
Replies: 42
Views: 2169

Re: Acoustic Pianos

Hi Bogleheaders. Anyone on here knows about acoustic pianos? We are in the market for a piano and of course the wife likes to buy new so don't even bring up the buy-used topic. We have 2 kids just starting to take piano lessons and we eventually would like to learn as well. So I wonder any brands y...
by hightower
Wed Sep 26, 2018 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Debt Repayment
Replies: 36
Views: 2032

Re: Student Loan Debt Repayment

I would ditch the townhouse and use the proceeds to pay a chunk of your student loans. That property hasn't increased in value much since you bought it. It's probably not earning you much in actual profits either. The housing market is in a bit of a bubble at the moment in my opinion. I would sell ...
by hightower
Wed Sep 26, 2018 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: School Loan debt vs
Replies: 15
Views: 1276

Re: School Loan debt vs

I am 33 years old and have 90k in graduate school loan debt. I have been working at hospitals the last 7 years and now making $39 hour/65k year. My wife also has a good job in hospital and makes about $110k a year. Together we have $170k in school loans. I have about $90k invested in mutual funds a...
by hightower
Wed Sep 19, 2018 6:30 am
Forum: Personal Finance (Not Investing)
Topic: Student Loan Debt Repayment
Replies: 36
Views: 2032

Re: Student Loan Debt Repayment

I would ditch the townhouse and use the proceeds to pay a chunk of your student loans. That property hasn't increased in value much since you bought it. It's probably not earning you much in actual profits either. The housing market is in a bit of a bubble at the moment in my opinion. I would sell i...
by hightower
Fri Sep 14, 2018 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Job burnout - Keep grinding or change?
Replies: 62
Views: 6822

Re: Job burnout - Keep grinding or change?

And do understand that all the people encouraging you to make a change , find a lower paying job which is more satisfying etc. won’t be around to help you financially when you have a left a secure well paying job for another that does not work out. They will still keep saying all sorts of positive ...
by hightower
Fri Sep 14, 2018 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Job burnout - Keep grinding or change?
Replies: 62
Views: 6822

Re: Job burnout - Keep grinding or change?

Definitely make a change if you're burnt out. It doesn't have to be drastic though. Even a slight change can have big impacts on your happiness. I went through this several years ago. The changes I made were to the types of shifts I was working and the amount of work overall (I'm a physician). I als...
by hightower
Fri Sep 14, 2018 10:02 am
Forum: Personal Consumer Issues
Topic: Can only take (1) DSLR lens..which one?
Replies: 27
Views: 803

Re: Can only take (1) DSLR lens..which one?

It's always a tough call on which lens to bring. I just did a 2 week trip through Germany and Austria in June. I wanted to pack very light (just one back pack total) so I choose to bring only a 27mm pancake lens on my Fujifilm XT-2. It was a good choice in terms of packing light. I felt that the len...
by hightower
Thu Sep 13, 2018 2:13 pm
Forum: Personal Consumer Issues
Topic: Vacation to San Francisco, Yosemite, Sequoia
Replies: 32
Views: 1570

Re: Vacation to San Francisco, Yosemite, Sequoia

My family of five (kids ages 18,15,12) are currently planning a trip to San Francisco for end of May/early June 2019. I've only been to Southern Cal areas so my knowledge is limited. We will be flying into San Francisco and will have about 10-12 days to visit. Obviously we'll do several days in the...
by hightower
Thu Sep 13, 2018 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Massive Student Loan Debt - Fiancee
Replies: 108
Views: 10616

Re: Massive Student Loan Debt - Fiancee

" I love her, but I agonize about our future. How much of a red flag should this be? If the PSLF program were to fail, it seems paying back the debt would be insurmountable It's not all that bad IMO. She has some good earning potential and that level of debt is very doable IMO. I would refinance and...
by hightower
Mon Sep 10, 2018 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Mold in house and insurance won't cover - options?
Replies: 29
Views: 3864

Re: Mold in house and insurance won't cover - options?

How to deal with mold?

Bleach in a spray bottle
Fix humidity issue
by hightower
Sun Sep 09, 2018 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone else playing catch-up in their 40's?
Replies: 68
Views: 7484

Re: Anyone else playing catch-up in their 40's?

It seems most of the ppl here started saving diligently in their 20's or 30's....are there others here who didn't "wake up" like me until they were in their 40's or beyond? Just curious. My rough timeline playing catch-up.... 20's - 0 savings 30's - very minimal 401k savings 40's - maxing all (401k...
by hightower
Mon Aug 27, 2018 6:53 am
Forum: Personal Finance (Not Investing)
Topic: I still use cash not credit cards should I reconsider?
Replies: 102
Views: 8077

Re: I still use cash not credit cards should I reconsider?

The real problem with cash is that it's becoming increasingly less convenient to use as prices rise over time (inflation over the long term). For example, getting back change (coins) is just a nuisance nowadays, whereas 50 years ago coins were actually very useful. The $11 that I spent on lunch the...
by hightower
Mon Aug 27, 2018 6:42 am
Forum: Personal Finance (Not Investing)
Topic: I still use cash not credit cards should I reconsider?
Replies: 102
Views: 8077

Re: I still use cash not credit cards should I reconsider?

I'm in my mid 50s. I work make a decent living. Same with DW. Every 7-10 days or so I grab $3-$400 from the atm. That's how I spend money. I have credit cards and only use them if for travel or if I'm in a pinch. DW uses her credit card for everyday items. Perhaps it's a phobia of sorts but I feel ...
by hightower
Thu Aug 16, 2018 7:28 am
Forum: Investing - Theory, News & General
Topic: Very confused with the current market
Replies: 119
Views: 14914

Re: Very confused with the current market

show me the 80 years bull? 1990-2000-2008 all most every ten years Well, if you just look at the start and the finish (1990 to 2018), the market did nothing but go up. It's all about perspective and how long you stay invested. The overall trend is that given enough time the market ALWAYS goes up. T...
by hightower
Thu Aug 16, 2018 7:22 am
Forum: Personal Consumer Issues
Topic: Chevy Volt for Commute
Replies: 24
Views: 2439

Re: Chevy Volt for Commute

You've got a lot of choices for PHEV. Chevy Volt - Small trunk, middle seat has no leg space Honda Clarity - Even smaller trunk due to being a sedan Toyota Prius Prime - No 5th seat, EV range only 26 miles BMW i3 - Ridiculously expensive, no 5th seat There's also the Mitsubishi Outlander SUV, Chrys...
by hightower
Thu Aug 16, 2018 7:21 am
Forum: Personal Consumer Issues
Topic: Chevy Volt for Commute
Replies: 24
Views: 2439

Re: Chevy Volt for Commute

Dude, get the Bolt. The volt is silly because you end up having to charge it daily and you're just lugging around a gas motor for no reason other than to try to avoid using it. My brother in law has one and says all the time he wishes he would have waited for the Bolt. The bolt has over 250 miles of...
by hightower
Thu Aug 16, 2018 7:15 am
Forum: Investing - Help with Personal Investments
Topic: Octogenarian father in law's idea of balance: AAPL + CASH
Replies: 35
Views: 3664

Re: Octogenarian father in law's idea of balance: AAPL + CASH

Hi— Long time lurker first time poster. Thank you to all who have contributed to my education here, absolutely invaluable. I'm writing about my mother and father in law's finances, which I am slowly taking over at their request. FINANCIAL PICTURE Savings $425k in various super low interest checking...
by hightower
Wed Aug 15, 2018 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Take auto loan 0.9% if I can afford cash?
Replies: 162
Views: 10910

Re: Take auto loan 0.9% if I can afford cash?

I would . . . and did back in late 2016 when I bought my Subaru Outback. Make sure you understand the terms of the loan (no pre-payment penalty, etc.) but if the loan rate is lower than what you'd easily earn on a FDIC (or NCUA) insured account (let alone a bond fund), I'd rather keep my cash worki...
by hightower
Wed Aug 15, 2018 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Take auto loan 0.9% if I can afford cash?
Replies: 162
Views: 10910

Re: Take auto loan 0.9% if I can afford cash?

If you're asking if I would take the loan the answer is no. If you can afford to pay cash, just pay cash and be done with it. The "math" only works if you make a dangerous assumption. You are assuming you can definitely invest the cash and make more money then the interest of the car loan would cost...
by hightower
Tue Aug 14, 2018 3:09 pm
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 1247
Views: 107949

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

Agree that no one knows what the future holds. International could outperform everything in the years to come, who knows. FWIW, I don't personally feel particularly inclined to hold much in international. I keep just 10% in my portfolio. Lately I've been glad that I don't own more the way it's been ...
by hightower
Fri Aug 03, 2018 12:19 pm
Forum: Personal Consumer Issues
Topic: Hiking vacation in November - any recomendations?
Replies: 35
Views: 2273

Re: Hiking vacation in November - any recomendations?

Hi - I have three vacation days left to spend in 2018 and I was thinking of taking the three days before Thanksgiving so it works into a week off. I'd like to go somewhere hiking, ideally a central location with different day hikes close by (I can rent a car). I was thinking of staying in the US th...
by hightower
Fri Aug 03, 2018 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Car price ratio to NW
Replies: 68
Views: 3139

Re: Car price ratio to NW

I go by the "Less than 20% of gross income rule" and pay CASH only For someone who makes 100k/yr, they should be spending no more than 20k on a car purchase. I don't remember where I first heard this one, but it seems reasonable to me to prevent stupid car purchases. For instance, my brother in law ...
by hightower
Fri Jul 27, 2018 1:46 pm
Forum: Personal Consumer Issues
Topic: Suggest an electric car: Volt? Alternative?
Replies: 49
Views: 4428

Re: Suggest an electric car: Volt? Alternative?

2008 GTI has an oil gasket leak in timing chain cover, mechanic says could be up to $1500 to fix depending on labor/what's under the cover. Apparently laborious. Car worth about $7k, so no. Use: commuter car only, 25 miles round trip M-F. Minimal weekend use. Maybe will be passed onto kids in 5 yea...
by hightower
Fri Jul 27, 2018 7:15 am
Forum: Investing - Theory, News & General
Topic: Facebook stock in freefall! (20% drop in 1-day)
Replies: 120
Views: 11516

Re: Facebook stock in freefall! (20% drop in 1-day)

The FB messenger is still a handy way to get a hold of some people and for arranging invites to a small group event. The best parts of FB seem to have migrated over to Instagram. More than a handful of people I was connected to have deleted their account or just abandoned using it. The novelty of F...
by hightower
Fri Jul 27, 2018 7:13 am
Forum: Investing - Theory, News & General
Topic: Facebook stock in freefall! (20% drop in 1-day)
Replies: 120
Views: 11516

Re: Facebook stock in freefall! (20% drop in 1-day)

FB's drop yesterday is a great example of why investing broadly is such a winning strategy. Despite FB being a large part of the index funds I invest in (VTSAX for instance), it had very minimal impact on my portfolio yesterday. In fact, mine went up slightly due to rises in REITs, Small Caps, and M...
by hightower
Sat Jul 14, 2018 12:13 pm
Forum: Investing - Help with Personal Investments
Topic: VTSAX vs. Fidelity Freedom Index Fund
Replies: 11
Views: 1849

Re: VSTAX vs. Fidelity Freedom Index Fund

Wow, that's quite a "gift" someone gave you. You just won the lottery IMO. If I were you, 21 years old with 100k in hand, I would take that 100k, open a taxable brokerage account at Vanguard, put 100% of it into VTSAX and forget about it for the next 45 years. If you get even 7% percent average grow...
by hightower
Tue Jul 10, 2018 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: 30 Year vs 15 Year Mortgage
Replies: 79
Views: 5270

Re: 30 Year vs 15 Year Mortgage

It sounds like the general consensus is that we should go with a 30 year mortgage. Pay off as a 15 year, the extra interest is simply a penalty for flexibility. What about the idea of paying it over 30 years and putting the difference of what a 15 year payment would be into a taxable investment acc...
by hightower
Thu Jul 05, 2018 3:43 pm
Forum: Personal Consumer Issues
Topic: What time do you get up in the morning?
Replies: 160
Views: 13058

Re: What time do you get up in the morning?

Usually between 6-7. But, the more important thing is to get up after a full 7-9 hours of sleep! And be consistent with it. Adequate sleep is vital to life.
by hightower
Wed Jul 04, 2018 9:14 pm
Forum: Investing - Help with Personal Investments
Topic: What’s your plan for a market downturn?
Replies: 114
Views: 10640

Re: What’s your plan for a market downturn?

Hello. First post, and I was just wondering if anyone has put any plans in place already for the long-predicted downturn. Do you know what you’re going to do when it happens? I realise that it’s basically impossible to predict when a prolonged dowturn is going to happen — some clever economists are...
by hightower
Wed Jul 04, 2018 11:18 am
Forum: Personal Consumer Issues
Topic: hybrid or plug-in electric car
Replies: 70
Views: 4563

Re: hybrid or plug-in electric car

I drive about 5200 miles per year, generally no more than 20 miles per day, and avoiding highways nearly all the time. For climate change reasons, trying to decide whether to buy a new plug-in, and possibly put some solar panels on my roof to make it a solar car, or go with a hybrid. I like the ide...
by hightower
Wed Jul 04, 2018 11:13 am
Forum: Investing - Theory, News & General
Topic: Can you just hold VOO VTI and call it a day?
Replies: 10
Views: 1753

Re: Can you just hold VOO VTI and call it a day?

Sure, you CAN do this if you want. But, it doesn't make much sense to hold both VOO (S&P 500) and VTI (Total Stock Market). VTI holds a lot of the same stocks as VOO, so you're being a bit redundant with using both. I would just use VTI and "call it a day" if you wanted to have a simple portfolio th...
by hightower
Sun Jul 01, 2018 10:50 am
Forum: Investing - Help with Personal Investments
Topic: Just joined the workforce with $400k in student debt: can you review my financial plan?
Replies: 14
Views: 2607

Re: Just joined the workforce with $400k in student debt: can you review my financial plan?

I would probably open a Roth IRA and put the max into that each year (5500). Any additional funds left over I would just hold on to as a form of an EF (which it sounds like you want to do anyway with the 3k). That will give you a head start when you start working as an attending and are ready to fin...
by hightower
Sat Jun 30, 2018 4:32 pm
Forum: Personal Consumer Issues
Topic: Can I buy a Tesla?
Replies: 140
Views: 11313

Re: Can I buy a Tesla?

I have a tesla model three reservation and I was recently invited to configure the car. I wanted to know if bogleheads think it is wise given my financial situation. My anticipated gross income for 2018 will be about 250,000. I anticipate gross income for 2019 will be about 400,000. My current net ...
by hightower
Thu Jun 28, 2018 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: What is/ was your career and would you recommend it now?
Replies: 408
Views: 41639

Re: What is/ was your career and would you recommend it now?

MD. Specialty Surgeon. Would not recommend going to medical school. Way too costly and way too much time. If you don't like it after many years, you will be trapped. How many times have you met someone in a different career that used to be a doctor? Career rapidly changing for the worse. None of my...
by hightower
Thu Jun 28, 2018 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: What is/ was your career and would you recommend it now?
Replies: 408
Views: 41639

Re: What is/ was your career and would you recommend it now?

Physician here Don't love it. Don't totally hate it either. I'm certainly very thankful to have such a good job with great income. But, I do feel if I had to do it all over again I'd choose differently. For me it's just not a great fit for my personality, which I didn't know anything about when I wa...
by hightower
Thu Jun 28, 2018 1:38 pm
Forum: Personal Consumer Issues
Topic: Airbnb - cleaning fee, service fee, occupancy fee....???
Replies: 81
Views: 7229

Re: Airbnb - cleaning fee, service fee, occupancy fee....???

My wife runs an Airbnb room in the back of our house. She sets the price/night and the cleaning fee. The price per night is actually based on a recommendation by airbnb based on what our local market is doing, though she can override it if she wants. The cleaning fee is there because she has to spen...