Search found 77 matches

by bhough
Thu Sep 19, 2019 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: 2 weeks notice or No Notice ? save 3.5K or Reputation ?
Replies: 135
Views: 10797

Re: 2 weeks notice or No Notice ? save 3.5K or Reputation ?

Yes, they would screw you if given the chance.

No, you may not quit the same day. Give two weeks notice. Life is long. People will remember how you left.
by bhough
Tue Sep 17, 2019 9:12 pm
Forum: Personal Finance (Not Investing)
Topic: Job Elimination - questions to ask and steps to take
Replies: 10
Views: 1516

Re: Job Elimination - questions to ask and steps to take

+1 on the staying at old job before she lines up a new one. I don’t know why HR looks more highly on the currently employed than they do on the unemployed, but that is a fact of life. Would line up a supervisor to give a good letter of recommendation before exiting building. Would move any necessary...
by bhough
Mon Sep 16, 2019 8:58 am
Forum: Personal Investments
Topic: Should I change i-bonds -> stocks?
Replies: 20
Views: 2078

Re: Should I change i-bonds -> stocks?

I bonds are very easy to redeem. You get your money in less than a week. I bonds are tax deferred. You don’t pay tax until you redeem them. That is why you bought them initially. Is this a period in your life where you’ll have a low tax burden this year? If not, what about just not buying more and s...
by bhough
Sun Sep 08, 2019 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: When to give notice
Replies: 29
Views: 3772

Re: When to give notice

I would only give two weeks notice. I would give notice only after you have already moved anything of value to you out of your office and off of your computer. (desktop and laptop). Everyone is replaceable. You will be seen as an enemy/spy in their midst if you are going to a competitor and they don...
by bhough
Sun Jul 28, 2019 9:56 pm
Forum: Personal Investments
Topic: Laid Off - Want to Retire / Am I OK
Replies: 145
Views: 19062

Re: Laid Off - Want to Retire / Am I OK

OP, You can retire financially. Take 3 months off. Do all the golfing/travelling/sleeping in late that you want to. After 3 months, you will need something to do. You don't have to think about it now. But I would recommend sometime during those 3 months you think about doing something during the day...
by bhough
Thu May 02, 2019 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking of home buying with all cash - need guidance
Replies: 19
Views: 2303

Re: Thinking of home buying with all cash - need guidance

One non-obvious reason to get a loan is that the bank's loan department vets the property and makes sure you aren't doing anything dumb (like buying a house in a flood zone, or with a horrible foundation, or paying more than what it is worth). It is like having a partner check your work. Ditto the r...
by bhough
Thu May 02, 2019 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Dumb idea? [buy a condo to rent]
Replies: 37
Views: 3561

Re: Dumb idea? [buy a condo to rent]

Reasons not to do this: 1. Onsite professional management does not mean your place won't get torn up. It means that there will be someone there to call the general contractor to fix the damage. 2. You have no control over what the condo association does. It can decide it wants to redo the roof even ...
by bhough
Wed Apr 03, 2019 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: Am I being silly (too cheap) to not buy a new minivan?
Replies: 23
Views: 1729

Re: Am I being silly (too cheap) to not buy a new minivan?

Buy it. You are doing a great job with your savings.
by bhough
Sun Mar 31, 2019 10:22 pm
Forum: Personal Investments
Topic: TIPS, I bonds, or taxable portfolio to get from 41 to 59.5
Replies: 11
Views: 1385

Re: TIPS, I bonds, or taxable portfolio to get from 41 to 59.5

My two cents: You will get bored if you stop working at 41. Plan on working. But also, put $10,000/year in I bonds and put the rest in whatever asset allocation works for you (at 31, if you are plowing 10k/year in I-bonds, it is very reasonable to put the remainder in a low cost index fund from Vang...
by bhough
Wed Feb 27, 2019 7:46 am
Forum: Personal Investments
Topic: Should I sell I-bonds to get 6.75% [in Pakistan bonds?]
Replies: 40
Views: 3436

Re: Should I sell I-bonds to get 6.75%

You are comparing apples and oranges.

If you want a higher return with more risk (and a small tax hit now), do it.

If your I-bond purchases were primarily for safety, liquidity, deferred taxation, inflation/deflation protection, keep the I-bonds.

I'd keep the I-bonds.
b
by bhough
Thu Feb 14, 2019 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Best place to hold 6 month emergency fund?
Replies: 8
Views: 1127

Re: Best place to hold 6 month emergency fund?

There will be some dissenters to this suggestion, but here it goes: You can buy I-bonds which work great as an emergency fund, except you can't sell them for the first year. The composite rate is 2.83%. If you sell them before 5 years, you forfeit 6 months of interest. In an inflationary environment...
by bhough
Thu Feb 14, 2019 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 7414

Re: A different kind of midlife crisis

I left megacorp to start my own related business. I had 2 years of living expenses in the bank and had leased an office space, started the website, started a business checking account, lined up what I thought was a large account for the business before I left. About 18 months later, the business was...
by bhough
Tue Feb 12, 2019 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: 457(b) Plans: Any Downsides?
Replies: 23
Views: 1563

Re: 457(b) Plans: Any Downsides?

Would also be careful to read the fine print on the 457(b). On termination from the company (whether it was your decision or their decision), they keep that money for several months. So don't view this as an emergency fund, because it won't be there for an emergency. Agree with the idea that one can...
by bhough
Tue Feb 12, 2019 2:47 pm
Forum: Personal Consumer Issues
Topic: separate computers for specific purposes--how many and for what?
Replies: 35
Views: 2819

Re: separate computers for specific purposes--how many and for what?

I have a mac desktop that is connected to a backup hard drive. I use that for financial stuff and to backup family photos and videos. I've recently installed linux on a laptop and a 2nd desktop just because I'm interested in learning about it. I don't have any data to support this, but it seems to m...
by bhough
Wed Jan 30, 2019 10:33 pm
Forum: Personal Finance (Not Investing)
Topic: Need 2nd opinion: CPA seems to be filing 940 incorrectly
Replies: 4
Views: 496

Re: Need 2nd opinion: CPA seems to be filing 940 incorrectly

Obviously, you are right given your IRS reference. However, does it matter, if it doesn’t change the FUTA amount and he did the SS/FICA firm correctly?

I admit it seems sloppy, but if you like him otherwise, this is something I could overlook.
B
by bhough
Mon Oct 15, 2018 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Lively HSA offers first dollar investing
Replies: 353
Views: 60987

Re: New HSA provider Lively offers investments for $30/yr fee

Personal experience here regarding something mentioned above about withdrawing from Lively. I opened an account with them last year after leaving megacorp. I started a small business and wanted to roll over and fund an HSA. My plan with HSA was not to use the money and use it to extend my pre-tax sp...
by bhough
Wed Sep 12, 2018 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Laid Off, Considering Multiple Options - Which Would You Recommend?
Replies: 48
Views: 7638

Re: Laid Off, Considering Multiple Options - Which Would You Recommend?

Dear OP, Similar thing happened to me 11 months ago. Wasn't laid off, but company was in decline and I was being asked to do 200% of what was reasonable each day, so I quit. Got 12 weeks severance. Similar finances, similar family situation. I decided to try to start my own business to stay in my ho...
by bhough
Thu Sep 06, 2018 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: To Be or Not to Be...Married
Replies: 135
Views: 5730

Re: To Be or Not to Be...Married

OP,
I understand why you’d want to “run the numbers” about getting married, but I’d like to encourage you to go ahead and do it regardless of the numbers. I love being married and it gives you benefits you don’t realize.
Congratulations.
B
by bhough
Thu Aug 09, 2018 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: QUESTION ANSWERED - House I paid 157k in 2007 sold for 55k in 2018
Replies: 25
Views: 2883

Re: House I paid 157k in 2007 sold for 55k in 2018 - CPA saying I will owe capital gains tax

I'm not a CPA, but when I take depreciation on my single family rental houses, I can depreciate only the property, not the land. Land does not depreciate or wear out. It can certainly go down in value though. Additionally, depreciation has varying timelines. One can appreciate a refrigerator over 5 ...
by bhough
Thu Aug 02, 2018 9:31 pm
Forum: Personal Investments
Topic: Unexpected early retirement - requesting advice
Replies: 56
Views: 7291

Re: Unexpected early retirement - requesting advice

Dear OP, I'm sorry about your health problems. Here are my thoughts: 1) Can I retire? Yes 2) Should I rebalance? No 3) How should I answer what do you do? For the first year, say that you are taking a mid-life sabbatical. By the end of that year, I suspect that you'll have time to figure out what yo...
by bhough
Thu May 31, 2018 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 145
Views: 30867

Re: Have $3m at 33, "approach to career" advice needed

Dear OP, You are no longer working for money. You will now be working for joy or meaning. Don't confuse the two. When you work for money, you have to tolerate things that are irritating, but because people have to tolerate them, they tend to stay in jobs and careers and advance. When one has unlimit...
by bhough
Thu May 10, 2018 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: yet another should I change jobs question
Replies: 12
Views: 1427

Re: yet another should I change jobs question

Dear Friend, I didn't read any of the other replies, but here is mine. You should give two weeks notice and quit. No more than two weeks. You should also buy and read The Hard Thing About Hard Things by Ben Horowitz to understand what good management looks like. You aren't in a company with good man...
by bhough
Thu Feb 01, 2018 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: How much to spend on a backyard?
Replies: 35
Views: 3775

Re: How much to spend on a backyard?

Up to 10% wealth you don't need to live off of. If you have paid off your mortgage, are planning to leave there 30-40 more years and have 25X your living expenses saved, you may spend 10% off the extra on landscaping. Or a watch. Or a car. Or an expensive toupee. But no more. If you are still workin...
by bhough
Fri Jan 19, 2018 4:01 pm
Forum: Personal Investments
Topic: Lost Job. Retirement/Portfolio Advice
Replies: 46
Views: 5170

Re: Lost Job. Retirement/Portfolio Advice

I was a little worried about you until I got to the 3.5 million part. If your monthly expenses are $3880, you are done working if you want to. I'd seriously consider a TIPS or CD ladder for income and would sell some of your stock, but I am on the conservative side. Personally, I think you should co...
by bhough
Thu Jan 11, 2018 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: What career related challenges can one pursue after age 40?
Replies: 13
Views: 1987

Re: What career related challenges can one pursue after age 40?

Had very similar feelings for the past several years. Couldn't figure out if it was my job or just my employer. Wife wouldn't let me move as all of our family is here/near. She did let me quit and start my own company. Pay is MUCH less, but I am so much happier and healthier. It is tangentially rela...
by bhough
Wed Dec 27, 2017 9:24 pm
Forum: Personal Finance (Not Investing)
Topic: Would you sign a non-compete for a side-gig consulting agreement?
Replies: 44
Views: 3673

Re: Would you sign a non-compete for a side-gig consulting agreement?

North America is the geography of the non-compete? No thanks. Stop helping them.
by bhough
Mon Dec 18, 2017 3:12 pm
Forum: Personal Consumer Issues
Topic: Single Purpose Device- Waffle Iron
Replies: 27
Views: 2907

Re: Single Purpose Device- Waffle Iron

I have a friend who makes "falafel waffles". Loves falafel, but doesn't like deep-frying.
by bhough
Mon Dec 18, 2017 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Considering a Job Change
Replies: 17
Views: 1451

Re: Considering a Job Change

Agree you should "make hay while the sun is shining. If you want autonomy and variety, start your own start-up on the side on your 3 days off.
by bhough
Mon Dec 18, 2017 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Tracking progress to $1M portfolio and no mortgage by 40
Replies: 102
Views: 29051

Re: Tracking progress to $1M portfolio and no mortgage by 40

You are strong. Thanks for the motivation.
by bhough
Sun Dec 10, 2017 9:40 am
Forum: Investing - Theory, News & General
Topic: John T. Reed (real estate) reading suggestions
Replies: 6
Views: 1113

Re: John T. Reed (real estate) reading suggestions

I've bought 4-5 of his books. He is an original thinker and one of the only people I've read who has advocated "reasonable expectations". He is self-published, so they are no fancy graphics or hardcover editions, but you will get alot of practical advice from a smart person that in my opinion was wo...
by bhough
Tue Dec 05, 2017 3:28 pm
Forum: Personal Investments
Topic: Who keeps more money out of 100k? Self-employed vs Employed?
Replies: 39
Views: 4207

Re: Who keeps more money out of 100k? Self-employed vs Employed?

I stand corrected. I apologize for distributing false information.
by bhough
Mon Dec 04, 2017 9:41 pm
Forum: Personal Investments
Topic: Who keeps more money out of 100k? Self-employed vs Employed?
Replies: 39
Views: 4207

Re: Who keeps more money out of 100k? Self-employed vs Employed?

This is going to be a little harsh, but you said you are a doctor and I feel obligated as another doctor to give you some harsh truths. 1. If you can't do the numbers yourself, you should not go into private practice. 2. It requires alot of time (think 6 months) and effort to get onto health insuran...
by bhough
Wed Nov 29, 2017 10:16 pm
Forum: Personal Consumer Issues
Topic: failing at hobbies and leisure
Replies: 47
Views: 6354

Re: failing at hobbies and leisure

Agree that the first year out when you aren't presenting to anyone is scary. You will read alot about your job. Would also consider a structured reading program of the classics or "the western canon"-see Bloom. Like the idea of a dog, but if your wife is also in medicine, that wouldn't be fair to th...
by bhough
Wed Nov 22, 2017 8:26 pm
Forum: Personal Consumer Issues
Topic: Paying cash for medical care - best practice?
Replies: 27
Views: 2707

Re: Paying cash for medical care - best practice?

See the doctors that you want out of network, but use your insurance. Don't pay "cash", just pay the bills as it will count as your deductible. If you need a CT/PET or an ER visit or surgery, go to her network.
b
by bhough
Thu Nov 16, 2017 5:28 pm
Forum: Personal Investments
Topic: Introduction to myself, my portfolio and my situation
Replies: 9
Views: 2181

Re: Introduction to myself, my portfolio and my situation

Dear John, I think you are paying too much in expenses, both for the funds and for your financial advisor. If you are concerned that moving from actively managed funds to index funds is going to trigger a large capital gains tax liability, I would advise you to spend some time and look at the actual...
by bhough
Mon Nov 13, 2017 5:13 pm
Forum: Personal Investments
Topic: ques - stock limit order
Replies: 4
Views: 722

Re: ques - stock limit order

I hold stocks through computershare as well and that is how I understand the sell process. You are basically selling at what they define the market on the time/date they say (I believe they buy twice/month or something of that nature). The flip side is that they will reinvest your dividends without ...
by bhough
Fri Nov 10, 2017 10:39 pm
Forum: Personal Investments
Topic: Ran out of space for bonds in tax-deferred accounts. Now what?
Replies: 17
Views: 2499

Re: Ran out of space for bonds in tax-deferred accounts. Now what?

I bonds are purchased with after tax dollars, but the taxes are deferred until you sell them. You can buy $10,000/SSN/year. So if you are married, you can purchase $40,000 in the next 2 months. This is way to increase your bond holdings in your situation.
b
by bhough
Fri Oct 27, 2017 10:47 pm
Forum: Personal Investments
Topic: For Those Without a State Income Tax Break, Which 529 Do You Use and Why?
Replies: 10
Views: 1185

Re: For Those Without a State Income Tax Break, Which 529 Do You Use and Why?

I live in a state without income tax and use Utah's plan which I like.
by bhough
Wed Oct 25, 2017 7:02 pm
Forum: Personal Investments
Topic: Should I sell rental property before I would have to pay taxes on capital gains?
Replies: 18
Views: 1845

Re: Should I sell rental property before I would have to pay taxes on capital gains?

Dear Friend, Given the numbers your quoted of mortgage/insurance/hoa of $1800 and rent of $2200, you should sell. You haven't factored in property management (if you are doing it yourself, you need to pay yourself--10% X 2200=220) as well as a sink fund for major repairs (15% of 2200=330). Therefore...
by bhough
Wed Oct 25, 2017 6:58 pm
Forum: Personal Consumer Issues
Topic: How to get over the fear of traveling without spouse and children?
Replies: 52
Views: 5642

Re: How to get over the fear of traveling without spouse and children?

OP, Imaging flying with your four children, making sure they pack all of their clothes, cuddlies and toys. Struggling with luggage in the airport, finding out that you have to split up on the plane such that your 8 year is in a middle seat between two strangers, etc. I would make the argument that a...
by bhough
Thu Oct 19, 2017 6:29 pm
Forum: Personal Consumer Issues
Topic: Anyone who started a business what made you comfortable enough to take the chance?
Replies: 25
Views: 2886

Re: Anyone who started a business what made you comfortable enough to take the chance?

I quit my stable megacorp job yesterday after 6 years of increasing drudgery. Started a business a month ago and haven't had any sales yet. I had to give 90 days notice, so I have 3 more months of work and paychecks before I'm out in the cold. Scared out of my mind. Great to read this post. Since I ...
by bhough
Wed Oct 11, 2017 7:34 pm
Forum: Investing - Theory, News & General
Topic: What's your asset allocation and why?
Replies: 178
Views: 28041

Re: What's your asset allocation and why?

Stocks 42% (US 98%, Int'l 2%) Bonds 7% Private Real estate 25% Cash 26% Pretax 53% Posttax 47% Why? In my 20s and 30s I did alot of sweat equity in single family houses. I bought, fixed and rent and I still have most of them. I read a few books and thought that was a good way to build financial inde...
by bhough
Wed Oct 11, 2017 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: [Boglehead vs Mr Money Mustache philosophies]
Replies: 203
Views: 22096

Re: [Boglehead vs Mr Money Mustache philosophies]

I think reading everyone's replies has made me a little smarter. Thank you for your lively debate.
by bhough
Tue Oct 10, 2017 5:39 am
Forum: Personal Finance (Not Investing)
Topic: Deferred Comp Plan (409A) Payments - earned income?
Replies: 5
Views: 682

Re: Deferred Comp Plan (409A) Payments - earned income?

Your company sucks. They don't care about you. Time or a change. If you leave, will they then spread the def comp over 5 years?
b
by bhough
Mon Oct 09, 2017 6:24 pm
Forum: Personal Investments
Topic: Bond help. 33 year old
Replies: 10
Views: 1688

Re: Bond help. 33 year old

You are going to have to make a few decisions and it depends on your circumstances. Decision #1: Have you maxed out your pretax space (401k, deductible or Roth IRA, 457b if you have it)? If not, consider a bond index fund as the percent of your pretax accounts you feel comfortable with. (Can I sugge...
by bhough
Sat Oct 07, 2017 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: 3x gross income = house purchase price, should interest rate be taken into account?
Replies: 26
Views: 3478

Re: 3x gross income = house purchase price, should interest rate be taken into account?

OP, I don't think I want to get between you and Klangfool (respect!) about what is the right multiple of income for a house. However, I would like to introduce some uncertainty into the way you are framing the argument. I don't think that some number X yearly income is a one size fits all guideline....
by bhough
Sat Oct 07, 2017 9:58 pm
Forum: Personal Investments
Topic: Third time in my 32 year career I have been laid off
Replies: 87
Views: 13117

Re: Third time in my 32 year career I have been laid off

OP, Nice job on your financial prudence and preparation. NIce job on paying off both mortgages. I'm sorry you were laid off. Please remember it isn't personal. I'd sell the rental. Assuming you pay something on for property tax and insurance on the rental, your return on that money is not good. I'd ...
by bhough
Sun Oct 01, 2017 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: I am in the investment advice industry and I'm not sure if I provide any value
Replies: 67
Views: 8890

Re: I am in the investment advice industry and I'm not sure if I provide any value

OP, You seem like a nice person who has some insight. I think you are probably trying to act in the best interest of your customers/clients, but I agree that 1% is too much. If you like finance/accounting, might I suggest you work at a public pension firm like Calpers? How about doing commercial rea...