Search found 444 matches

by bltn
Thu Jul 18, 2019 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: [State] Residency v. Domicile
Replies: 5
Views: 594

Re: [State] Residency v. Domicile

When working in Alabama and living in Florida, I filed a joint tax return , and paid Alabama state income taxes on my wages, but not on my investment income which I figured was based in Florida. My excellent accountant thought this was fine. I have a home in both states now but have my homestead exe...
by bltn
Thu Jul 18, 2019 8:33 pm
Forum: Personal Investments
Topic: Substantial position in an individual stock
Replies: 20
Views: 1569

Re: Substantial position in an individual stock

I would sell some now , keeping myself below the 20% capital gain tax rate. I would the do that again the first of next year and again the first of the year after that. I would put my proceeds in a broad market stock index fund. Don t get caught up in the idea you want to sell when the stock price i...
by bltn
Tue Jul 16, 2019 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: College cost prediction and savings for 5, 3, and newborn
Replies: 101
Views: 4928

Re: College cost prediction and savings for 5, 3, and newborn

There is a huge uncertainty in all three of these: General Sticker-price cost of university education Assistance you gain from merit or need-based aid Which school your children will attend Also; If all your kids will even go to college. If they will go for a year or two then drop out. People somet...
by bltn
Sun Jul 14, 2019 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 145
Views: 29900

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

Very interesting thread, as demonstrated by the large number of responses. My first impression was that with your impressive accumulation at your age, you have the potential for a great future. The FIRE idea to retire and spend quality time with your family only works for someone who is willing to s...
by bltn
Sat Jul 13, 2019 6:14 am
Forum: Personal Finance (Not Investing)
Topic: priority of supporting parents vs saving for college
Replies: 54
Views: 3446

Re: priority of supporting parents vs saving for college

Thank you for everyone's thoughts. I have provided some more info below, but there is still too much uncertainty for long-term planning. One wildcard is that we are in NYC now but I would prefer to move states in a year or two (which would have very different income and housing profiles). My husban...
by bltn
Fri Jul 12, 2019 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: priority of supporting parents vs saving for college
Replies: 54
Views: 3446

Re: priority of supporting parents vs saving for college

Tough question. In our family , both would have a high priority. My parents two top savings goals for the first half of my dad s career were to provide a good college education for their kids, and to never have to depend on their kids for financial assistance. My wife s parents, due to her father s ...
by bltn
Fri Jul 12, 2019 5:43 am
Forum: Personal Investments
Topic: Best way to plan for $620K long term capital gains?
Replies: 18
Views: 2326

Re: Best way to plan for $620K long term capital gains?

I would sell enough each year to push the yearly income to the top of the 15% capital gains limit.
You re going to have to pay these capital gain taxes anyway. Might as well start selling right away.
I would get rid of all of it, and switch the money to index funds. Oh yeah, this is Bogleheads.
by bltn
Fri Jul 12, 2019 5:23 am
Forum: Personal Investments
Topic: Passive investment help before I meet with Fidelity FA this week.
Replies: 19
Views: 1962

Re: Passive investment help before I meet with Fidelity FA this week.

My simple rule for tax efficient investment is: 1. Fixed income investment in the tax deferred accounts. 2.Equity investments in the form of (tax efficient) index funds in the taxable accounts. 3. More aggressive investment, equities, in the Roth IRA. It seems as though you ll be ok with your retire...
by bltn
Thu Jul 11, 2019 9:27 pm
Forum: Personal Investments
Topic: Vanguard to Ameriprise... Naah!
Replies: 6
Views: 915

Re: Vanguard to Ameriprise... Naah!

If I were in your position, I would contact my Vanguard representative and have all the inherited funds transferred to my Vanguard account. Then I would get Vanguard to give me a financial plan for my investments and decide if I would like to use their PAS service for a while, or simply sell all my ...
by bltn
Thu Jul 11, 2019 9:10 pm
Forum: Personal Investments
Topic: 25 years to retirement; assume 0 future contributions
Replies: 21
Views: 2427

Re: 25 years to retirement; assume 0 future contributions

Have you heard about the Rule of 72? Basically it states that, given a fixed interest rate, the amount of time it would take to double the original investment is 72 over the interest rate. Conversely, if you have a fixed time horizon, the interest rate you need to double the initial investment with...
by bltn
Thu Jul 11, 2019 8:41 pm
Forum: Personal Investments
Topic: Safest way to invest $1 mil for individual with cognitive impairment to protect their assets?
Replies: 33
Views: 3402

Re: Safest way to invest $1 mil for individual with cognitive impairment to protect their assets?

The above suggested annuity, meaning a single premium immediate fixed annuity, would prevent money being frittered away. But it is a little of a cut off your nose to spite your face solution as it is tough to find inflation indexed annuities and one should also not leave oneself without any reserve...
by bltn
Thu Jul 11, 2019 5:40 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 273
Views: 26067

Re: Can I afford this 2.3 million dollar home?

I have an income similar to your projected. Imagine I'm living 3 years in your future - very similar income, income ramp, net worth, and also built a fully custom home (not builder customized). One difference is we live in a higher cost area than you do. So our home is in the top 10-15% of metro ar...
by bltn
Thu Jul 11, 2019 4:42 am
Forum: Personal Finance (Not Investing)
Topic: Another NFCU CD deal [Navy Federal Credit Union]
Replies: 30
Views: 3303

Re: Another NFCU CD deal [Navy Federal Credit Union]

A 12 month ewp is too much to attract my interest.
by bltn
Wed Jul 10, 2019 8:15 am
Forum: Personal Investments
Topic: Decided to retire soon - Asset Allocation question
Replies: 21
Views: 1997

Re: Decided to retire soon - Asset Allocation question

When thinking about withdrawal rates from a portfolio and spending during a long retirement, one must have a certain amount of flexibility. In the future, a family s spending should be based on how a portfolio performs, which is for people on this forum, is synonymous with how the market does. One o...
by bltn
Mon Jul 08, 2019 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Does saving 20% towards retirement starting in your twenties allow you to retire early?
Replies: 144
Views: 13519

Re: Does saving 20% towards retirement starting in your twenties allow you to retire early?

If you can live off Social Security (and perhaps a pension), and can keep working until you collect SS, you don't need to save anything. :twisted: Case in point: DW and I are both postponing SS until age 70. When we're both collecting, it will cover our normal expenses including taxes on the RMDs f...
by bltn
Thu Jul 04, 2019 5:30 am
Forum: Personal Investments
Topic: Got more than enough for retirement. What to do now?
Replies: 42
Views: 3795

Re: Got more than enough for retirement. What to do now?

In your position, I would keep working if I liked my job. More accumulation would allow us to safely enjoy a nicer lifestyle in the future. I would balance my current savings between safety and growth . For me that would mean an allocation of 50/35/15. I could sleep at night with that allocation, re...
by bltn
Wed Jul 03, 2019 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: The Day Has Come - Hit Retirement Number - Now What?
Replies: 103
Views: 10103

Re: The Day Has Come - Hit Retirement Number - Now What?

Freedom is the goal not retirement IMHO. Others have said it well here -- having a cushion makes it easier to go to any job. I hit a ~$5M net worth and wife has a great job -- so I 'could' conceptually retire but I'm 41 so no plans of doing that. Its taken me a full year to work through the feeling...
by bltn
Wed Jul 03, 2019 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Adult son has not controlled credit card overuse!
Replies: 106
Views: 6087

Re: Adult son has not controlled credit card overuse!

However, before he can change, he must WANT to make the change. He may need to hit bottom before he's ready to actually change his behavior. This is the key. As Ramsey would say, one has to get to the place where they are sick-and-tired of being sick-and-tired. +1 million. j LOL +2 million Just a c...
by bltn
Wed Jul 03, 2019 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Adult son has not controlled credit card overuse!
Replies: 106
Views: 6087

Re: Adult son has not controlled credit card overuse!

He's married? Tread softly. Is his wife part of the problem? Tread very very softly. Let Dave Ramsey do any heavy lifting. Yes! Need to walk a very narrow path. I thought his wife was part of the solution. So did he. Now turns out that she has run up similar large balances on her cards. He says thi...
by bltn
Tue Jul 02, 2019 4:22 am
Forum: Personal Finance (Not Investing)
Topic: Do you share your net worth with family members?
Replies: 252
Views: 20009

Re: Do you share your net worth with family members?

I don t let any one know our net worth. My accountant has a vague idea ,but would be surprised if he actually knew our totals. My children will learn more in the future as they prepare to be family executor.
Living under the radar is my preference.
by bltn
Mon Jul 01, 2019 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Would we regret buying a 2nd home?
Replies: 90
Views: 7925

Re: Would we regret buying a 2nd home?

OP, you're saying buying this house would deplete your liquid assets and possible draw into your retirement accounts? In Bogleheads terms, this means it is a really bad idea. A nice summary of the financial advisability in two sentences. If other assets are sufficient to safely maintain your lifest...
by bltn
Mon Jul 01, 2019 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Would we regret buying a 2nd home?
Replies: 90
Views: 7925

Re: Would we regret buying a 2nd home?

I'm coming at this from a completely different perspective. I'm currently 28 and don't own any home. That being said, some of the replies in this thread remind me very much of a common problem in the tabletop gaming hobby, which is that many people (myself included) amass huge collections of games ...
by bltn
Mon Jul 01, 2019 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Would we regret buying a 2nd home?
Replies: 90
Views: 7925

Re: Would we regret buying a 2nd home?

Twenty years ago we bought a beach lot a four hour drive from our home. My wife s family vacationed in the area a lot when she was little. I thought at the time we might build on it or keep it as an investment. We decided to build a vacation home and completed it about eleven years ago. It s in a no...
by bltn
Sun Jun 30, 2019 12:49 pm
Forum: Personal Investments
Topic: Finally rid of financial adviser, need help with portfolio adjustment
Replies: 25
Views: 2439

Re: Finally rid of financial adviser, need help with portfolio adjustment

3blindmice, Interesting that you felt your personal advisor at Edward Jones took your withdrawal of your account personally. I think many of us know how you feel. I ve had friends tell me that their advisor at their brokerage was not happy or polite when they ended their account. I was uncomfortable...
by bltn
Sun Jun 30, 2019 12:15 pm
Forum: Personal Investments
Topic: Sold one of two houses. Pay off the other house?
Replies: 18
Views: 1583

Re: Sold one of two houses. Pay off the other house?

Except for the important part of us not knowing the current mortgage rate. :happy This friend may not be comfortable with investing also. She said that it was 4.8%. That's a fairly high mortgage rate, and puts it more in the pay off that mortgage side, IMO. It would be tough to match that rate, let...
by bltn
Thu Jun 27, 2019 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Anybody else unable to afford a home/have six figure income?
Replies: 60
Views: 7177

Re: Anybody else unable to afford a home/have six figure income?

I'm 32 and not close to having $100,000 saved. Maybe by 35 I will, but that's assuming my expenses stay extremely low. I don't have debt, not married, I invest in 401k and Roth IRA, and have (depending on the month) close to $1000 leftover at the end of the month to play around with. Perhaps a lot ...
by bltn
Sun Jun 23, 2019 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Losing a job in your 50's...
Replies: 401
Views: 51121

Re: Losing a job in your 50's...

Thank you, CyclingDuo, you're very welcome. With 377 posts to date, I'd say you have accomplished your objective very well. There were some remarkable reports in the thread and I'm sure more to come. Thanks for the topic. I wanted to add an excellent pertinent article to this thread from The Atlant...
by bltn
Thu Jun 20, 2019 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: My TERM life insurance policy
Replies: 10
Views: 1285

Re: My TERM life insurance policy

Just trying to gauge if I got a good deal. I picked my policies from term4sale. I went with a laddered plan, so that policies will fall off as I become more financially independent/self-insured. I'm 32, non-smoker, no medical conditions or major risk factors. I have a family and am a high-income pr...
by bltn
Thu Jun 20, 2019 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: Another Can I retire Post? - Age 58
Replies: 22
Views: 3023

Re: Another Can I retire Post? - Age 58

Without fine tuning it too much , if I were your position, I would plan on saving and working another couple of years. Then, I would not quit my current job until I had the consulting job or another part time job that I like better locked up. When, or if, the market corrects in the next few years, I...
by bltn
Wed Jun 19, 2019 6:01 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire in 1 year at 53
Replies: 54
Views: 9549

Re: Can I retire in 1 year at 53

With a 3% withdrawal rate you should be fine, financially. I would make sure all your assumptions and numbers are accurate. As to whether you can adjust psychologically to being retired, you ll probably be fine. I ve seen some, mostly relatively high achievers, who got bored with retirement and some...
by bltn
Mon Jun 17, 2019 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: Should we retire in 4 years?
Replies: 31
Views: 4021

Re: Should we retire in 4 years?

4% of 1.2 million is 48k. Does your current expense of 45k/yr include taxes? Does your 45k include budgeting for occasional high priced expenses like roof or hvac replacement? Will your expenses remain 45k/yr for the next 4 years? These are the kind of things I think about. For me the numbers are a ...
by bltn
Sun Jun 16, 2019 9:03 pm
Forum: Personal Investments
Topic: Selling Business for 2.5 Million - Where to go NEXT?
Replies: 61
Views: 4410

Re: Selling Business for 2.5 Million - Where to go NEXT?

Why are people saying get a job? They can live off of interest and dividends if needed. A part time job isn’t going to give full time benefits and I doubt they want to work at Home Depot 40 hours a week just for benefits at their net worth.. I’d: -put 300k in a high yield account -get a couple of r...
by bltn
Sun Jun 16, 2019 4:40 pm
Forum: Investing - Theory, News & General
Topic: The Three-Fund Portfolio
Replies: 2524
Views: 1612485

Re: Short Term Asset Allocation

abuss368: My 25% bond and 75% stock allocation is carefully considered. At age 95, with a life expectancy of 3 years, planning is simplified. :wink: Best wishes. Taylor Taylor Many thanks for the years of advice. I m trying to pass these BH recommendations on to my kids. This knowledge is an import...
by bltn
Sun Jun 16, 2019 1:49 pm
Forum: Investing - Theory, News & General
Topic: How Bad was 2008, really?
Replies: 321
Views: 38317

Re: How Bad was 2008, really?

We stemmed the damage by borrowing from our children and learned little from the loan. The systemic issues are the same with only a wounded Dodd-Frank left as response to the situation. One could take the message as that the US will borrow to keep the music playing as long as the bonds will sell. T...
by bltn
Sat Jun 15, 2019 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Should I call it quits?
Replies: 23
Views: 4871

Re: Should I call it quits?

Sounds like you are in your 20’s or early 30’s. Don’t stop working. You haven’t provided any numbers but you probably aren’t ready to retire. Your wife could lose her job. College expenses. Inflation. Keep working. Keep saving. If you don’t have kids I’d say stop working, sail around the world, etc...
by bltn
Fri Jun 14, 2019 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need "Professional Trustee?"
Replies: 46
Views: 3445

Re: Do I need "Professional Trustee?"

There is definitely an advantage to having a professional trustee, but if I were going to pay 1.25% to the trustee I would certainly retain a qualified corporate trustee, not the attorney who drafted the instrument who could not have the combined skills of a corporate trustee nor the perpetual exis...
by bltn
Fri Jun 14, 2019 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: Job opportunity - KSA/Bahrain
Replies: 66
Views: 5538

Re: Job opportunity - KSA/Bahrain

It may well be a fabulous adventure of a lifetime and you may never have regrets even if both you and your buddy end up broke. But still friends. Nothing ventured, nothing gained. Nothing really to do with most of the comments posted above. Some people relish adventures, some do not (most BHs?). Tr...
by bltn
Fri Jun 14, 2019 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Job opportunity - KSA/Bahrain
Replies: 66
Views: 5538

Re: Job opportunity - KSA/Bahrain

True BHs do not even relish the excitement of picking individual stocks! Probably asking for advice on the wrong forum :confused Agreed, we're a boring bunch :mrgreen: After spending a bunch of investment money on adventures early on, I began to realize the value of being boring. I m glad I stopped...
by bltn
Thu Jun 13, 2019 6:09 am
Forum: Personal Finance (Not Investing)
Topic: Short-term money needs for Executor of Estate
Replies: 57
Views: 3900

Re: Short-term money needs for Executor of Estate

willthrill81 wrote:
Wed Jun 12, 2019 9:26 pm
My wife is the beneficiary of all accounts in my name. As soon as the institutions have my death certificate, the money is hers. No probate would be needed.
Nice way to avoid probate without the need for trusts to accomplish this transfer.

Simplicity is usually a good thing.
by bltn
Wed Jun 12, 2019 5:13 am
Forum: Personal Finance (Not Investing)
Topic: Job opportunity - KSA/Bahrain
Replies: 66
Views: 5538

Re: Job opportunity - KSA/Bahrain

No offense, OP, but people doing low experience IT jobs can find work in Bahrain for as much or more, living in a private compound with private security, housing and food paid for. You are barely compensating for the risk you are taking. If you've never been to the Middle East, I suggest you take a...
by bltn
Tue Jun 11, 2019 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: Job opportunity - KSA/Bahrain
Replies: 66
Views: 5538

Re: Job opportunity - KSA/Bahrain

I considered an employment opportunity in Saudi Arabia early in my career which would have doubled my income and provided some nice income tax advantage. I thought about moving over there for a few years to accumulate a nice nest egg, and then returning home. I ve realized that for us, that would ha...
by bltn
Tue Jun 11, 2019 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 273
Views: 26067

Re: Can I afford this 2.3 million dollar home?

Houses are a cost not a revenue source. If I am to believe Zillow my house appreciated 50% in the last 6 years. It is not a revenue source now but it definitely a nice NW source. While I do consider my home equity part of my net worth, a large home is not a source of financial security , unless I p...
by bltn
Sun Jun 09, 2019 2:25 am
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9424

Re: Do you carry Umbrella Insurance?

I carry the maximum they would write without going to underwriting. I think it is a $5M policy. I did not consider my net worth when I bought the original policy. I carry $4m. I didn t consider my net worth when buying that amount. I don t see how the amount of your umbrella policy should be based ...
by bltn
Fri Jun 07, 2019 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: Money Deposited into my bank account in error
Replies: 10
Views: 1106

Re: Money Deposited into my bank account in error

I would feel better if I reported the error. I still think about my father s emphasis about the importance of integrity. He was referring to business dealings, but that was how he lived his life in general . I was lucky to have that kind of role model. I ve tried to teach values based on my father s...
by bltn
Fri Jun 07, 2019 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Emergency fund to pay debt
Replies: 25
Views: 1786

Re: Emergency fund to pay debt

As a moderately massively risk adverse person, I would keep my emergency fund for emergencies and find ways to cut my discretionary spending until the debt was repaid. Some people are comfortable with less contingency money, just like some are content with less insurance. I personally place a higher...
by bltn
Thu Jun 06, 2019 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 273
Views: 26067

Re: Can I afford this 2.3 million dollar home?

The only house we ever built was our current vacation home at the beach. I had an opportunity to get a desirable lot at a good price in an area where comparable lots were becoming more scarce. I bought the lot as an investment/potential home site. Two years later, in a hot market, our realtor came t...
by bltn
Mon Jun 03, 2019 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: For those who earn $500k+ per year. How'd you do that?
Replies: 369
Views: 38320

Re: For those who earn $500k+ per year. How'd you do that?

I chose a career where I knew I'd never make millions. It is stable with good benefits and higher than average pay. Sometimes I dream of chasing the big bucks and wonder what specific skills have lead to people earning ultra-high incomes. If you earn over $500k/year, what's your story? I chose a ca...
by bltn
Sat Jun 01, 2019 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Fun paid jobs after FIRE
Replies: 180
Views: 16543

Re: Fun paid jobs after FIRE

greg24 wrote:
Wed May 29, 2019 9:00 am
Little league umpire.
Being an umpire is a fun job?? Some of those parents can get pretty rough.
by bltn
Fri May 31, 2019 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: FIRE in 6-7 years vs 20+ years
Replies: 44
Views: 4949

Re: FIRE in 6-7 years vs 20+ years

With your medical training, you and your wife have more job opportunities than more than 90% of the population. Work for a couple of years, knock your student loans down, and put as big a chunk of money away as you can. Then look at your opportunities. And you re right. As a private contractor, you ...
by bltn
Fri May 31, 2019 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 273
Views: 26067

Re: Can I afford this 2.3 million dollar home?

As I read the last page of replies and put myself in your situation, I get a bit more concerned about building a custom house for 2.3 million dollars in a community where the median house appraisal is 800,000. Buy the land, if you can pay it off in a year, then sit on it for two or three years . The...