Search found 509 matches

by TheHouse7
Thu Dec 12, 2019 12:33 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 1075
Views: 148785

Re: Post your Financial Milestone Announcements Here

We maxed my 401k for the 2nd year in a row. :sharebeer
by TheHouse7
Fri Oct 04, 2019 10:44 am
Forum: Personal Finance (Not Investing)
Topic: [When my children marry, should they sign a pre-nuptial agreement?]
Replies: 95
Views: 8186

Re: Daddy I'm engaged! Pre-nup?

Not being rude but your modest estate won't be attracting any gold diggers. Stay out of it. +1 I have relatives that were concerned (for the wrong reasons) that I should get a pre-nup when marrying at 27 y/o. I had a net worth of 70k and stand to inherit your ballpark. I went to a lawyer. Did not h...
by TheHouse7
Fri Sep 27, 2019 2:41 pm
Forum: Personal Investments
Topic: Maxed out 401K
Replies: 6
Views: 1289

Re: Maxed out 401K

1. That depends. Some employers will "true up" the match at the end of the year buy giving you the match on the full amount you contributed even though you didn't contribute for the whole year, others won't. It's too late now, of course, but you should get an answer to that before you do the same n...
by TheHouse7
Tue Sep 10, 2019 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Advice on picking best health plan, PPO vs HSA
Replies: 9
Views: 917

Re: Advice on picking best health plan, PPO vs HSA

We are having our second kid with a HSA and we are loving it. Out of pocket max is $4,000 for her pre tax per year. Now the question is, we have a family of four do we switch to the low deductible now that everyone is "healthy"?
by TheHouse7
Fri Aug 30, 2019 11:39 am
Forum: Personal Investments
Topic: Young people with good earnings and still want to work do 100 equities
Replies: 44
Views: 4809

Re: Young people with good earnings and still want to work do 100 equities

CoastalWinds wrote:
Fri Aug 30, 2019 8:39 am
80/20 for efficient frontier
+1 I am here at (32 years old), I read enough that the extra 20% in stocks is not going to give me that much more in return for the risk.
by TheHouse7
Tue Jul 16, 2019 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Being a hands off homeowner
Replies: 51
Views: 3996

Re: Being a hands off homeowner

There is some rule of thumb for this calculation. I would suspect it is 1.5% home value per year is what you will spend on home maintenance. If you don't plan on doing any of the work, I would guess (completely useless), that it would be 4.5% or 3x that. :beer P.S.: You may want to mow your own lawn...
by TheHouse7
Thu Jul 11, 2019 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Home insurance - over insured
Replies: 9
Views: 1064

Re: Home insurance - over insured

This is completely normal, I had just looked into "saving" on my homeowners a $100 a year. The insurance sales person said they can fudge some of the amenities in the house calculator, but the policy is written to replace everything (I think it may be a simplification mandate because of how disaster...
by TheHouse7
Tue Jul 02, 2019 2:25 pm
Forum: Personal Consumer Issues
Topic: Purchasing Major Appliances from Costco
Replies: 41
Views: 7295

Re: Purchasing Major Appliances from Costco

Swimmer wrote:
Tue Jul 02, 2019 2:03 pm
Thanks, all, for your responses. Very helpful as always.
+1 I will definitely consider a Costco credit card because of the previous posts.

Started a family, appliances will need to be replaced soon. :beer
by TheHouse7
Tue Jun 25, 2019 9:10 am
Forum: Personal Consumer Issues
Topic: Used Minivan - Recommendations?
Replies: 34
Views: 1763

Re: Used Minivan - Recommendations?

My DW and I are interested in a minivan, but I am hesitant to spend that much money on a used(or new) one when she drives 6k miles a year. Toyota seems leagues ahead in this thread. :beer
by TheHouse7
Thu May 16, 2019 6:23 pm
Forum: Personal Investments
Topic: If you are already wealthy, what keeps you motivated?
Replies: 101
Views: 12699

Re: If you are already wealthy, what keeps you motivated?

My sense of purpose comes from service to others. I go to work knowing that things keep on getting better and better. I appreciate my humble beginnings most days. I take pride in what I do, it is not just for money. :beer
by TheHouse7
Sun Apr 07, 2019 9:59 am
Forum: Personal Investments
Topic: Bank deregulation 2019
Replies: 10
Views: 1059

Re: Bank deregulation 2019

Let me say, stick to a plan, that doesn't mean,"Do nothing." I beg my wife to stick to plans that she made, she hates me for making her realize she is a hypocrite and we move on. :sharebeer

By the way, I thought deregulation improves markets to exorbitant levels.

:confused
by TheHouse7
Thu Apr 04, 2019 11:39 pm
Forum: Personal Finance (Not Investing)
Topic: Is our household budget crazy?
Replies: 141
Views: 13281

Re: Is our household budget crazy?

runner3081 wrote:
Thu Mar 28, 2019 2:03 pm
For your income = No. Compared to me and what I would be comfortable with = YES

In fact, I read this as more of a brag. Maybe that is just me!
Not just you, we live on a 1/4 of this, and can only dream of making 100k gross.
by TheHouse7
Thu Apr 04, 2019 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: What is Financial Independence (FI) in the simplest terms?
Replies: 80
Views: 5495

Re: What is Financial Independence (FI) in the simplest terms?

To have enough :moneybag to live the rest of your life without working.

I have 30 years to live (you have to know when you will die), I live off of 40k a year. I need 1.2 million.

Imagine I have 3 years left to live. Now I need 120k to be FI.
by TheHouse7
Tue Apr 02, 2019 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: Weighing career options (34 yo, considering leaving low COL for high COL, am I crazy?)
Replies: 54
Views: 4220

Re: Weighing career options (34 yo, considering leaving low COL for high COL, am I crazy?)

I would take the job in Chicago, We(32) make 84k and live on 50k. If someone offered me 168k to work in Chicago I would do it if it were less than 55 hours per week (including commute).

I don't think either choice is bad. Probably happier in Lcola!
by TheHouse7
Sun Mar 24, 2019 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Early retirement
Replies: 162
Views: 21042

Re: Early retirement

I retired early. I've had some very interesting interactions with people when they find out I've done so. Some are socially awkward, some rude, some confused and other bizarre reactions. Has anyone else experienced what I have? Yes, I have experienced all of the above. I retired at 55. The first re...
by TheHouse7
Sun Mar 24, 2019 9:51 am
Forum: Investing - Theory, News & General
Topic: Timing a first-time home purchase
Replies: 16
Views: 1128

Re: Timing a first-time home purchase

Thanks for the feedback, guys. Savings rate is a little over 50%, and this would be in a Sacramento suburb. So a bit higher than average cost of living. Probably won't be that cheap of a starter home. But job is very secure, and may be possible to go with a 15 year mortgage. I'm really just trying ...
by TheHouse7
Sun Mar 24, 2019 9:34 am
Forum: Personal Investments
Topic: Big Picture - are we doing the right things?
Replies: 38
Views: 5008

Re: Big Picture - are we doing the right things?

You are doing things right, get rid of the 30 year policy. When your 20 year term ends, then you two can decide how much you don't need it anymore. I am curious why so many are suggesting that I may be over insured on life insurance. Do you feel that $1 million life insurance on my income of $149k ...
by TheHouse7
Sun Mar 24, 2019 9:30 am
Forum: Personal Investments
Topic: Big Picture - are we doing the right things?
Replies: 38
Views: 5008

Re: Big Picture - are we doing the right things?

You are doing things right, get rid of the 30 year policy. When your 20 year term ends, then you two can decide how much you don't need it anymore. I am curious why so many are suggesting that I may be over insured on life insurance. Do you feel that $1 million life insurance on my income of $149k ...
by TheHouse7
Sun Mar 24, 2019 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Is a million really the benchmark for retirement
Replies: 153
Views: 24769

Re: Is a million really the benchmark for retirement

One thing that I have not seen mentioned is that your retirement income needs will be different in different phases of retirement. I have seen relatives naturally slow down in about their mid 70's even though they were in relatively good health. At they point they had little desire to do things lik...
by TheHouse7
Fri Mar 22, 2019 7:35 am
Forum: Personal Investments
Topic: Big Picture - are we doing the right things?
Replies: 38
Views: 5008

Re: Big Picture - are we doing the right things?

You are doing things right, get rid of the 30 year policy. When your 20 year term ends, then you two can decide how much you don't need it anymore.
by TheHouse7
Wed Mar 20, 2019 7:41 am
Forum: Personal Finance (Not Investing)
Topic: Paying cash for a vehicle
Replies: 87
Views: 11517

Re: Paying cash for a vehicle

MichCPA wrote:
Tue Mar 19, 2019 11:56 am
Just here for another Dave Ramsey humble-brag thread.
+1 :D
by TheHouse7
Wed Mar 13, 2019 9:16 am
Forum: Personal Consumer Issues
Topic: What time do you start your day?
Replies: 69
Views: 3632

Re: What time do you start your day?

I'm supposed to get up at 4:30, to start working at 6.
by TheHouse7
Tue Mar 12, 2019 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

[My effective tax rate is substantially lower than I ever thought possible. We decided my wife should be a SAHM last year with one child. This year we will have 2 children. 2018 $28.3 per hour ($30.61 this year) I am a salary (58.4k)non-exempt from OT Gross: 84k (89k+ this year) AGI: 54k Taxable: 3...
by TheHouse7
Sun Mar 10, 2019 11:23 pm
Forum: Investing - Theory, News & General
Topic: Rebalancing 401k
Replies: 6
Views: 579

Re: Rebalancing 401k

I think I remember reading on here very solid points for NOT rebalancing. Just keep contributing your allocation DCA.

I already have a auto rebalancing once a year in my 401k, so of course like any Boglehead, I didn't do anything. :beer
by TheHouse7
Sun Mar 10, 2019 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

Early 30s couple with baby $500k income 27% taxes 33% spending (includes 5% towards mortgage principal) 40% savings Isn't 5% principal payment = saving? Some view principal as a sunk cost, not to be included in savings or net worth because you will always need a place to live. Please provide how yo...
by TheHouse7
Sun Mar 10, 2019 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Should I sell personal vehicle while using work vehicle?
Replies: 8
Views: 563

Re: Should I sell personal vehicle while using work vehicle?

Sell it or give it to family. I gave my car to my wife and sold hers (3k) three years ago. Saved tons!
by TheHouse7
Sun Mar 10, 2019 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

Early 30s couple with baby $500k income 27% taxes 33% spending (includes 5% towards mortgage principal) 40% savings Isn't 5% principal payment = saving? Some view principal as a sunk cost, not to be included in savings or net worth because you will always need a place to live. Please provide how yo...
by TheHouse7
Sun Mar 10, 2019 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

I work in an industry with overtime (15+ hours a week), and I just received an 8% raise. I have always had the opinion "make as much as I possibly can", and I am starting to value my time at home more than extra savings. Thank you for the reply, it gives me more to think about. TheHouse7, At your i...
by TheHouse7
Sun Mar 10, 2019 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

Hi Bogleheads, I'm interested in how accumulators choose a savings rate. We are saving as much as we can at 31 years old, and have a second baby on the way. I thought maxing tax advantaged space would be a good goal, but we hit that last year and I feel like we are saving to much (33%). Any suggest...
by TheHouse7
Sat Mar 09, 2019 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

Hi Bogleheads, I'm interested in how accumulators choose a savings rate. We are saving as much as we can at 31 years old, and have a second baby on the way. I thought maxing tax advantaged space would be a good goal, but we hit that last year and I feel like we are saving to much (33%). Any suggest...
by TheHouse7
Sat Mar 09, 2019 1:16 am
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

I would like a life of security which cannot be guaranteed at any savings rate. Would you please explain what you mean by this? I believe I have everything that I want and I am trying to save for perpetual: housing, healthcare, food, education for my immediate family and I. (My financial goals are ...
by TheHouse7
Fri Mar 08, 2019 9:31 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

If you can sustain the higher than average savings rate I would keep it going for as long as you can. You might get laid off, face a health challenge, or want to your career trajectory for awhile. A lot can happen between now and when you want to retire at 65. When I was younger I saved just to sav...
by TheHouse7
Fri Mar 08, 2019 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

Easy. I write my budget out in Excel. Any money I don't spend, I save. The amount changes every month, but the idea is that by sticking to a budget I think long and hard about every dollar and weigh my priorities. So I'm not wasting money, and as a side effect, I have a very high savings rate over ...
by TheHouse7
Fri Mar 08, 2019 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

Pigeye Brewster wrote:
Fri Mar 08, 2019 8:54 pm
There's not a magic number. When asked how to become a better cyclist, Eddy Merckx, the greatest of all time simply replied "ride lots". The same applies to retirement savings, i.e. "save lots". :beer
I did expect more, "save as much as possible" posts. :sharebeer
by TheHouse7
Fri Mar 08, 2019 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

OP, This is your life. You choose to save X amount and spend Y amount in order to maintain your lifestyle and reach your financial goal in Z number of years. So, your saving rate has to be based on your own personal goal. It really does not matter how much someone else saves. Savings just for the s...
by TheHouse7
Fri Mar 08, 2019 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

willthrill81 wrote:
Fri Mar 08, 2019 5:06 pm
Our savings rate is a little over 50% (of gross income) right now, and we plan to keep it there until retirement, about 17 years into the future.
How did you decide on 50%? Has it constantly moved? If you had started saving sooner would your rate be the same today?
by TheHouse7
Fri Mar 08, 2019 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

We spend as little as we need to in order to live a happy life (3 in family). That just happens to be a small amount because we are frugal, minimalist focused and don't care that we only have a small TV, old cars, etc. The rest, we save. This happens to be 70%. If you feel you are saving too much, ...
by TheHouse7
Fri Mar 08, 2019 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

We spend as little as we need to in order to live a happy life (3 in family). That just happens to be a small amount because we are frugal, minimalist focused and don't care that we only have a small TV, old cars, etc. The rest, we save. This happens to be 70%. If you feel you are saving too much, ...
by TheHouse7
Fri Mar 08, 2019 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

Hi Bogleheads, I'm interested in how accumulators choose a savings rate. We are saving as much as we can at 31 years old, and have a second baby on the way. I thought maxing tax advantaged space would be a good goal, but we hit that last year and I feel like we are saving to much (33%). Any suggest...
by TheHouse7
Fri Mar 08, 2019 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

One thing that I've learned is to invest some in after tax accounts as well as the pretax. Ten years ago I realized almost all my money was in tax advantaged accounts and that I'd need some dough for early retirement. The more kids we have, the less likely I will early retire. No sense in passing u...
by TheHouse7
Fri Mar 08, 2019 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

Please remember some on here see savings rate as a competition and post insane rates. You don't need to join them. Moat likely 33% IS to much with 2 littles. Iys ok yo cut back and then increase later, I have read several articles suggestion its actually good because there is nothing like kids to c...
by TheHouse7
Fri Mar 08, 2019 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

I don't think there is any hard and fast rule about savings rate. Here are some things I've heard: --Saving 15% of your gross income consistently over your working years will allow you to replace 85% of your gross income in retirement. --Saving more may allow you to retire earlier or live better in...
by TheHouse7
Fri Mar 08, 2019 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Re: Savings Rate

OP, 1) What is your financial goal? What is your number? 2) In order to think about saving rate, you need to decide on (1). My goal is FI. My number is about 25 times my current annual expense. I save 1 year of expense every year. My saving rate is based on my current annual expense. It is 100% of ...
by TheHouse7
Fri Mar 08, 2019 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7995

Savings Rate

Hi Bogleheads, I'm interested in how accumulators choose a savings rate. We are saving as much as we can at 31 years old, and have a second baby on the way. I thought maxing tax advantaged space would be a good goal, but we hit that last year and I feel like we are saving to much (33%). Any suggesti...
by TheHouse7
Fri Mar 08, 2019 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: When were you able to max out your 401k, IRAs?
Replies: 69
Views: 5622

Re: When were you able to max out your 401k, IRAs?

We did for the first time this year after tax return (31). I think the posts above about not focusing on the max is correct. We have an unreasonable goal to " save as much as we can" and I'm starting to feel the costs of a high savings rate. We are saving ~33% and I am thinking that is to high for o...
by TheHouse7
Wed Mar 06, 2019 10:54 pm
Forum: US Chapters
Topic: How Did You End Up Here?
Replies: 65
Views: 5810

Re: How Did You End Up Here?

I was asked if I would be willing to teach some Business/Finance classes at my school. I had never taught any Business or Financial classes. My Principal knew I had worked for a bank while in college (I also started a Business/Finance major), which is probably the main reason I was asked, not becau...
by TheHouse7
Wed Mar 06, 2019 10:50 pm
Forum: US Chapters
Topic: How Did You End Up Here?
Replies: 65
Views: 5810

Re: How Did You End Up Here?

Dave Ramsey reformed here, we had no debt going through the class in premarital counseling. I had just lost 6k in PSX drop from my FIL advise and decided to read some "common sense." Some how I ended up on this forum and rarely branch out. I hope more collect around the "Ideas worth sharing" passion...
by TheHouse7
Wed Mar 06, 2019 10:37 pm
Forum: Personal Investments
Topic: Asset Allocations Recommendations.
Replies: 5
Views: 901

Re: Asset Allocations Recommendations.

Duckie hit it out of the park.

:beer

Consider your stock bonds 85/15 in your post and 25% international of stocks as a correction.
by TheHouse7
Sun Mar 03, 2019 9:44 pm
Forum: Personal Consumer Issues
Topic: Why do you live where you live?
Replies: 134
Views: 9746

Re: Why do you live where you live?

Blaine, WA:

1. I thought it would be best to live close to my in-laws.
2. I wanted less than a 15 min commute (9 min right now).
3. Cheaper than surrounding areas (more house for less $).