Search found 1954 matches

by TRC
Sun Mar 24, 2024 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Can I really really afford a 3 million mortgage?
Replies: 104
Views: 9002

Re: Can I really really afford a 3 million mortgage?

redfan11 wrote: Sat Mar 23, 2024 8:20 pm We would literally live paycheck to paycheck. This sounds like a stupid decision. Please knock some sense in to me.
I sounds like you already know the answer here.
by TRC
Sun Mar 24, 2024 7:45 pm
Forum: Personal Consumer Issues
Topic: To buy or not to buy a big SUV
Replies: 42
Views: 3487

Re: To buy or not to buy a big SUV

Not sure how many passengers you need, but we absolutely love our F150 for big trips for our family of 4 and 2 dogs. A truck may have more versatility for you throughout the year than just big road trips.
by TRC
Tue Mar 19, 2024 2:01 pm
Forum: Personal Consumer Issues
Topic: Another 'should I get solar' question
Replies: 90
Views: 6516

Re: Another 'should I get solar' question

I live in the northeast and recently had Solar installed this past winter. We had a 13.2 kW solar system installed that's predicted to generate 15,580 kWh a year. We paid cash - after Federal & State insentives, it will be ~$30K out of pocket. We have a 4 BR / 2.25 BA house - 2 AC's, pool filter, pool heater and an EV Pickup. Historically our electric bills before and after Solar: Oct - $729 Nove - $527 Dec - $438 Jan - $348 Feb - $33.56 <- First month of full solar productivity For Feb, we produced 1,078.6 kWw and we consumed 1,142.6 kWh For March so far, we have produced 684.2 kWg and used 1,1697 kWg (more EV charges this month). We have no regrets. I love that the Sun is powering most of our lifestyle, including my driving.
by TRC
Thu Mar 14, 2024 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: The best game-changing financial advice you ever received (or "discovered")
Replies: 219
Views: 25581

Re: The best game-changing financial advice you ever received (or "discovered")

Becoming completely debt free. There is no such thing as good debt.
by TRC
Thu Mar 14, 2024 8:51 pm
Forum: Personal Finance (Not Investing)
Topic: College degree worthwhile for marketing?
Replies: 124
Views: 8472

Re: College degree worthwhile for marketing?

Ladeedaw wrote: Mon Mar 11, 2024 3:58 pm ... I pay $4500 per year (from 529), which covers her housing.
You should ask for your money back if she's not going to fulfill her obligation.

I have a degree in marketing. I ended up in software sales and love it. I would never recommend that my children get into marketing though.

She's near the finish line and she should finish and get the degree, then get into real estate or whatever profession she wants.
by TRC
Wed Mar 13, 2024 9:02 pm
Forum: Investing - Theory, News & General
Topic: What is the appeal of Robinhood
Replies: 85
Views: 6506

Re: What is the appeal of Robinhood

I would never trust my money with RobinHood. Especially after they locked the "buy" option in the app for GameStop during the frenzy.

DFS Superintendent Harris Announces $30 Million Penalty on Robinhood Crypto for Significant Anti- Money Laundering, Cybersecurity & Consumer Protection Violations

https://www.dfs.ny.gov/reports_and_publ ... Part%20200)%2C%20Money

Popular investing app Robinhood became the focus of the controversy after it decided to freeze trades for GameStop on Jan. 28.

https://www.cnet.com/personal-finance/i ... ntroversy/
by TRC
Mon Mar 11, 2024 9:26 pm
Forum: Personal Investments
Topic: Should I keep Renting or Sell Rental?
Replies: 7
Views: 887

Re: Should I keep Renting or Sell Rental?

thedayisbrave wrote: Mon Mar 11, 2024 6:06 pm $1143 x 12 = $13,716 cash flow per year. On approx $446K in equity, that's about a 3.0% return. You could get more than that just in a HYSA or money market. I would sell.
I was going to say the the same thing. This isn't a great return for the amount of money you have tied up in it.
by TRC
Sat Mar 09, 2024 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Can I splurge on a family vacation to Hawaii?
Replies: 56
Views: 5045

Re: Can I splurge on a family vacation to Hawaii?

Yes! We went to Kauai from Christmas to New Year and then just did 2 weeks in Maui in Feb. It truly is paradise. If you can afford it, DO IT. We go annually.
by TRC
Fri Mar 08, 2024 6:46 pm
Forum: Personal Investments
Topic: Checkup: I'm way behind. Hope for late bloomers?
Replies: 42
Views: 5509

Re: Checkup: I'm way behind. Hope for late bloomers?

Good on you for posting and having a desire kick things into high gear. If my math is correct, you have $153K in investments. You're 41, so assuming you plan to work till 65, that leaves you 24 years left of wealth accumulation. Investing 45K is nearly 1/3 your income, which is impressive. Doing some back of the napkin math: $153K + $45K annually for 24 years earning 8% = $4.2M Not too shabby. I'm sure you'll be able to earn more as you progress in your career. If you can bump up investing to $50K, $60K or more, the number will get bigger or you'll be able to retire sooner. I think you're in decent shape. If you can contribute more or find a side hustle, you can build your egg faster.
by TRC
Sun Mar 03, 2024 12:12 pm
Forum: Personal Consumer Issues
Topic: When do electric cars stop making sense?
Replies: 210
Views: 16584

Re: When do electric cars stop making sense?

Test drive one. Absolutely love my f150 lightning.

We recently installed solar as well. Last week we produced enough to power our whole house, fully charged my truck, and still had excess that we sold back to the grid.
by TRC
Sun Mar 03, 2024 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Can we (and should we) buy this house?
Replies: 62
Views: 4344

Re: Can we (and should we) buy this house?

in terms of rent + mortgage overlapping, have you talked to your landlord about getting out of your lease early? I would try to work something out there.
by TRC
Sat Mar 02, 2024 11:38 am
Forum: Personal Investments
Topic: Portfolio Review - Help Needed
Replies: 19
Views: 2242

Re: Portfolio Review - Help Needed

Go with a simple 2 fund portolio. You'll get exposure to international in Total Stock Market Index Fund.

401k / Roth IRA - Total Stock Market Index Fund + Total Bond fund
Taxable Brokerage - Total Stock Market Index Fund
by TRC
Tue Feb 27, 2024 8:05 am
Forum: Personal Finance (Not Investing)
Topic: High Salary (>$500,000) careers
Replies: 244
Views: 29136

Re: High Salary (>$500,000) careers

Not under 40, but I was at one point in time! Enterprise software sales has allowed me to achieve many years earning over $500k when I was in my 30s and now in my 40s. It’s not a salary though. It’s being compensated for over achieving my sales goals annually.
by TRC
Tue Jan 30, 2024 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Payoff Calculation
Replies: 12
Views: 1400

Re: Mortgage Payoff Calculation

At your age and at that interest rate, I would not pay it off. Keep the $200K in the market.
by TRC
Mon Jan 22, 2024 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 4288
Views: 1081844

Re: Share your net worth progression

Borqa45 wrote: Fri Jan 19, 2024 6:32 pm
TRC wrote: Fri Jan 19, 2024 6:26 pm I love this. Been a boglehead since 2008. Stay the course!

Age Networth
32 $708,329
33 n/a
34 $835,968
35 $1,072,876
36 $1,323,059
37 $1,649,588
38 $1,818,197
39 $2,070,648
40 $2,416,072
41 $2,339,025
42 n/a
43 $3,289,325
44 $3,995,667
45 $3,626,466
46 $4,513,429
Awesome progress 😎 congrats!! What is your net worth breakdown between real estate, stocks, bonds etc? I guess it is called asset allocation?
Thank you! My asset allocation is 80/20 stocks to bonds. VTSAX and VBLTX are my two primary funds. I have $900K in a home that's paid for. $750K in a paid for investment property. The rest is in vanguard VTSAX and VBLTX
by TRC
Fri Jan 19, 2024 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 4288
Views: 1081844

Re: Share your net worth progression

I love this. Been a boglehead since 2008. Stay the course!

Age Networth
32 $708,329
33 n/a
34 $835,968
35 $1,072,876
36 $1,323,059
37 $1,649,588
38 $1,818,197
39 $2,070,648
40 $2,416,072
41 $2,339,025
42 n/a
43 $3,289,325
44 $3,995,667
45 $3,626,466
46 $4,513,429
by TRC
Sat Nov 20, 2021 6:47 am
Forum: Personal Finance (Not Investing)
Topic: Bought private shares of stock - shown as earned income?
Replies: 7
Views: 1070

Re: Bought private shares of stock - shown as earned income?

Flora wrote: Sat Nov 20, 2021 12:40 am Is the $45k that you say you paid in taxes shown as fed/state withholding on the paystub?
Yes it is. On my final paystub it shows $157,484.20. It then shows -46,221.61 as taxes paid. Total After Tax Deductions 111,262.59 per my paystub.
by TRC
Fri Nov 19, 2021 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: Bought private shares of stock - shown as earned income?
Replies: 7
Views: 1070

Bought private shares of stock - shown as earned income?

Editing my post with more accurate figures. I resigned from a security startup back in July where I exercised 30,002 shares of stock that I had vested. The company is still private and I intend to hold the stock for a future anticipated exit. The purchase price was approximately $59,730.28 to buy the shares and my company charged me an additional $46,221.62 in federal / state taxes based on the fair market value price when I purchased them. The fair market value price is $7.24 per share. Out of pocket I paid $105,951.90. On my final paystub, they added a line item of $157,484.20 of earnings titled "non qualified stock options" that is shown as W2 income. I ran this by my CPA and he's saying I now need to pay taxes on this $157K as...
by TRC
Wed Nov 17, 2021 6:41 am
Forum: Personal Finance (Not Investing)
Topic: Financial Advisor or No
Replies: 74
Views: 6602

Re: Financial Advisor or No

Our will was created by a lawyer, not a financial advisor.

No, you don't need a financial advisor. Have your partner read Simple Path to Wealth by JL Collins.
by TRC
Sat Sep 04, 2021 6:52 pm
Forum: Personal Investments
Topic: Pay down mortgage at 2.75% or invest?
Replies: 177
Views: 19878

Re: Pay down mortgage at 2.75% or invest?

I think this depends on how much you already have invested. Are your investments well funded or do you need to play catch up?

We paid our house off in our early 30's. No regrets.

To those saying invest instead, I wonder how many of them have refi'd to pull out equity and invest?
by TRC
Tue Aug 31, 2021 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: Spend $75,000 to update rental property?
Replies: 38
Views: 5004

Re: Spend $75,000 to update rental property?

Have you considered selling it and investing in VTSAX?

$380K - 5% realtor fee = $361K net - $195 mortgage balance = $166K.

$166K invested in VTSAX compounded at 10% per year for 20 year = $1.1M
by TRC
Sat Aug 21, 2021 6:10 am
Forum: Personal Finance (Not Investing)
Topic: blurred lines with work hours and working remote
Replies: 169
Views: 17956

Re: blurred lines with work hours and working remote

I feel your pain. This phrase really hit home for me. "Are you working from home or living at work?"
by TRC
Sat Aug 07, 2021 7:53 am
Forum: Personal Finance (Not Investing)
Topic: Can I Retire Today?
Replies: 96
Views: 16429

Re: Can I Retire Today?

ccmichaelson wrote: Fri Aug 06, 2021 8:39 am
- 1.7 million invested with wealth management company (all equities).
Two questions:
What's the annual advisor fee you're paying?
What funds do they have you in and what are the expense ratios?
by TRC
Sun Aug 01, 2021 7:10 am
Forum: Personal Consumer Issues
Topic: Ford Lightning EV
Replies: 308
Views: 31133

Re: Ford Lightning EV

I currently drive a Raptor (2018) and put a $100 deposit on a lightning. It's faster than my Raptor!

Anyone have any insight on when these will realistically become available?
by TRC
Sat Jul 31, 2021 7:34 am
Forum: Personal Finance (Not Investing)
Topic: How much financial support do you plan on giving to your kids after high school?
Replies: 177
Views: 17833

Re: How much financial support do you plan on giving to your kids after high school?

Growing up as a kid, my father always said "you want something? Go figure out how to get it". They provided the basics for me as a kid and paid for most of my college, but that was it. Everything else was on me. It taught me at a very young age to work and to hustle. When I was 12, I was door knocking and found some neighbors that I could do yard work for. I still remember making $20 a week for neighbors when my allowance at home was $2.50 a week. I felt like I struck gold! When I turned 15, I got a job washing dishes working 12 hours shifts (not sure that would be legal today). It taught me at a young age to work hard, to save and to figure out ( on my own ) how to buy things. I remember saving up for my first mountain bike, whic...
by TRC
Wed Jul 28, 2021 6:35 am
Forum: Personal Finance (Not Investing)
Topic: Learning why real estate is so great
Replies: 59
Views: 12544

Re: Learning why real estate is so great

Imagine if you found a property valued at $500K, but you had the opportunity to buy it at $300k because the seller was motivated to get out. Would you jump on it? Deals like this happen all the time due to sellers being motivated to get out fast. Divorce, job loss, estate sale, etc. You just have to know how to find them.
by TRC
Mon Jul 19, 2021 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: First time home buyer strategies against investors..?
Replies: 21
Views: 2681

Re: First time home buyer strategies against investors..?

I would sit on the sidelines till the market simmers down. It eventually will.
by TRC
Sun Jul 18, 2021 7:46 pm
Forum: Personal Investments
Topic: Rate My Roth IRA - 22 Year Old
Replies: 21
Views: 2485

Re: Rate My Roth IRA - 22 Year Old

At your age and with that balance, just buy the Total Stock Market Index fund and fund.
by TRC
Wed Jul 14, 2021 12:19 pm
Forum: Personal Investments
Topic: Guidance for new grad, 1st real job
Replies: 29
Views: 3451

Re: Guidance for new grad, 1st real job

Educate yourself on financial literacy. Develop a curiosity for it. Read good books about financial independence.

Tell your money were to go and use a budget.
by TRC
Sat Jul 03, 2021 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Best financial decision ever made
Replies: 81
Views: 10943

Re: Best financial decision ever made

paying off my house in my 30s and investing like crazy during the bad times. Currently 43 and hope to achieve financial independence no later than 50.
by TRC
Sat Jun 19, 2021 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a home in San Francisco
Replies: 28
Views: 4367

Re: Buying a home in San Francisco

Hard to answer without knowing what your monthly bills are. After you pay for food, transportation, insurance, entertainment, etc, how much is left over each month?
by TRC
Thu Jun 17, 2021 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford a $650k house?
Replies: 28
Views: 4164

Re: Can we afford a $650k house?

You're saving $30K a month and you're wondering if you can afford a $650K house?

Is this a trick question?
by TRC
Sun Jun 13, 2021 5:41 am
Forum: Personal Investments
Topic: Retirement Plan Review - Is it sound?
Replies: 15
Views: 3199

Re: Retirement Plan Review - Is it sound?

Is the rental property worth the hassle?

At a value of $510K investment yielding $12,000 a year, you're getting a 2.35% annual return....less than inflation.

I'd consider selling it, paying off your mortgage and investing the rest in your taxable account.
by TRC
Tue Jun 08, 2021 6:35 am
Forum: Personal Finance (Not Investing)
Topic: Anyone regret paying off mortgage early?
Replies: 2483
Views: 293970

Re: anyone regret paying off mortgage early

If the S&P tanks during the next 10 years, you'll be a genius for paying off your mortgage early. If it continues to soar, you'll likely regret paying it off early.

That being said, we chose to pay off our primary residence in our 30s and will soon be paying off our second rental property this year in our early 40s. For us it comes down to personal preference, peace of mind, freeing up monthly cash flow and knowing that if I lose my job, I don't need to worry about writing large mortgage checks each month.
by TRC
Tue Jun 08, 2021 6:25 am
Forum: Personal Finance (Not Investing)
Topic: Selling Private Stock Options & tax implications
Replies: 1
Views: 354

Selling Private Stock Options & tax implications

I will soon be leaving from a privately held software startup where I have vested 30,000 shares that will cost me about $2.00 a share to buy them ($60K). We are a relatively hot startup as we just completed a Series E funding round and there is a lot of buzz. There is demand on the secondary market where former employees have been selling their shares at $15/share through sites like www.sharespost.com.

Curious if anyone has experience selling stock options on the secondary market and tax implications? My plan was to sell a chunk of shares enough to get my initial investment of $60K back. As I understand it, I'd have to pay federal income tax and state income tax on the sale price. Do I also have to pay tax when buying the shares?
by TRC
Sun Jun 06, 2021 7:12 am
Forum: Personal Finance (Not Investing)
Topic: Vacation home frenzy?
Replies: 109
Views: 21882

Re: Vacation home frenzy?

I have a second home in Vacationland (Maine) and typically during this time of year there are at least 50 lakefront homes for sale in our region and right now, five out of the 10 are pending. There are zero available on my lake when there might be at least a dozen in other years. People who have had lots for many, many years are placing them on the market seeing this as a once in a lifetime opportunity to make the most cash. And there are no rentals available this summer. I too have a vacation home in Maine at the beach, just south of Portland. It's a small 4 unit condo association. I was up Friday and Saturday of this week hanging out and my neighbor's unit just went on the market on Thursday for $555K. By Friday he had 20 showings and mu...
by TRC
Thu Jun 03, 2021 6:44 am
Forum: Investing - Theory, News & General
Topic: I'm calling a bottom in real estate
Replies: 139
Views: 20406

Re: I'm calling a bottom in real estate

I disagree. I think there is a tsunami of foreclosures on the horizon.
by TRC
Sun May 30, 2021 6:10 am
Forum: Personal Investments
Topic: Learned of the Boglehead way this year, but need help with implementation/allocation
Replies: 19
Views: 2899

Re: Learned of the Boglehead way this year, but need help with implementation/allocation

Congrats on finding this! I would suggest implementing a simple 3 fund portfolio: https://www.bogleheads.org/wiki/Three-fund_portfolio

Bonds are tax in-effcieint, so keep them in your 401K or Roth IRA. Keep it simple, invest as much as you can, pay off debt and enjoy life!
by TRC
Sun May 30, 2021 6:03 am
Forum: Personal Investments
Topic: How much of your disposable income should go into the market?
Replies: 12
Views: 2543

Re: How much of your disposable income should go into the market?

If you have no other things to save for, fund a back door Roth IRA then start funding a taxable account.

Wiki -> https://www.bogleheads.org/wiki/Priorit ... nvestments
by TRC
Wed May 26, 2021 6:44 am
Forum: Personal Finance (Not Investing)
Topic: Anyone hate their vacation home?
Replies: 128
Views: 23831

Re: Anyone hate their vacation home?

We own a secondary vacation home / rental property. It's a beach condo 2 hours from our house 1 street back from the ocean. There are pros & cons to it, but overall for us the pros outweigh the cons in our experience: We bought it in 2010 initially with the idea of using it as a summer home. We didn't purchase it till we had our primary residence paid off and we put 50% down to keep the cost low. When we purchased it we were 33 with a 3 year old and a newborn. The first summer was a blast, but like others have said, commuting up & back every weekend does eventually get old. After the first season we decided to rent it on a weekly basis through VBRO for $4,000 a week. Looking back at my rentals from 2011, we've grossed about $300k in...
by TRC
Tue May 18, 2021 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Making offer well-over asking price?
Replies: 58
Views: 14878

Re: Making offer well-over asking price?

Reading this makes me want to sell my beach home.
by TRC
Sun May 16, 2021 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 913
Views: 239834

Re: If your net worth is over $3 million, how did you do it?

Getting into Technology Sales and being very good at my craft.
by TRC
Sun Apr 18, 2021 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Buying Vacation Home with Parent?
Replies: 13
Views: 1545

Re: Buying Vacation Home with Parent?

I own a vacation home (have for 11 years). It's not a great investment and is work.

My advice would be to just go on vacations instead.

If you must buy a vacation home, buying with another person (especially in-laws) is a recipe disaster.
by TRC
Sat Apr 10, 2021 8:17 am
Forum: Personal Finance (Not Investing)
Topic: Do budgets work?
Replies: 122
Views: 7574

Re: Do budgets work?

Yes, they do work. 100%. I've been using You Need A Budget (YNAB) for 10+ years. I just finished my weekly reconciliation this morning actually.
by TRC
Sat Apr 03, 2021 7:09 am
Forum: Personal Consumer Issues
Topic: Landscape design plans
Replies: 12
Views: 1423

Landscape design plans

I need a frond yard makeover - namely the plantings in front of our house. Last year I contacted a reputable person here in Massachusetts and she wanted to charge me $5,000 to design plans. $5,000! All I'm looking for is a plan to tell me what to plant and where. A blueprint if you will.

Does anyone know of a cost effective option for getting this done? Maybe even something that's virtual where I upload pictures and they are able to do a before & after with what the plantings will look like?
by TRC
Thu Apr 01, 2021 6:14 am
Forum: Personal Investments
Topic: Two years ago, I got serious about investing for my future. Update / Advice
Replies: 19
Views: 4292

Re: Two years ago, I got serious about investing for my future. Update / Advice

This WiKi on investing priorities should be helpful: https://www.bogleheads.org/wiki/Priorit ... nvestments

Nice job getting serious about building wealth. I think you're in very good shape. I'm sure you know this, but starring a family will mean a massive increase in expenses. I have 2 kids myself and cloths, food, sports activities, school activities, vacations, etc. all add up. I would continue to invest as much as you can while you're still DINKs.
by TRC
Thu Mar 25, 2021 7:17 am
Forum: Personal Finance (Not Investing)
Topic: How to Deal with Worry of job loss and providing for family?
Replies: 127
Views: 14368

Re: How to Deal with Worry of job loss and providing for family?

Yes, I'm in the same boat. I'm the sole provider for my family and I've been fired before in my early 20s as a result of the dot.com bubble bursting. Here's how I deal with it:

We paid off our house and have zero debt.
We have a 6 month E-Fund
We have a $400K HELOC in case we need more E-Fund money
We save and invest like crazy. We are close to achieving FIRE...I expect we'll be there in 5 years, possibly sooner.

That being said, I still worry a lot...especially this year. Might be amplified by Covid, I don't know.
by TRC
Tue Mar 23, 2021 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Tales from this insane real estate market [Home sales]
Replies: 2923
Views: 521022

Re: Tales from this insane real estate market

Good for you and smart move. In the words of Warren Buffet - "Be fearful when others are greedy and greedy when others are fearful".
by TRC
Sun Mar 21, 2021 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Advice to friend?
Replies: 23
Views: 2437

Re: Advice to friend?

You could always gift him books that may help him come to his own conclusion. One that did it for me was John Bogle's "Little Book of Common Sense Investing".