Search found 853 matches

by bltn
Fri Sep 18, 2020 7:43 am
Forum: Personal Finance (Not Investing)
Topic: How to get over finance envy
Replies: 311
Views: 43619

Re: How to get over finance envy

You’re doing great. Here what we focused on: Never be a burden on your kids. live well below your means. Develop multiple sources of future income. Stay away from the shiny stuff. Don’t follow the Joneses. Keep your cars for 10 years+. Pay off credit cards every month. Use cash as much as possible ...
by bltn
Thu Sep 17, 2020 7:34 pm
Forum: Personal Investments
Topic: Struggling Over whether to Sell my Tesla Stock
Replies: 42
Views: 2897

Re: Struggling Over whether to Sell my Tesla Stock

goodenoughinvestor wrote: Tue Sep 15, 2020 3:48 pm OP checking in: Thanks for all the good advice. Today, I sold half of my shares and have stopped thinking about it, so it was the right decision.
I would sell half again.
by bltn
Thu Sep 17, 2020 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: New York Life - Invest as Favor for Friend
Replies: 35
Views: 1467

Re: New York Life - Invest as Favor for Friend

I like the idea of getting your friend a nice briefcase. He ll be able to take it with him if he changes jobs as well as use it at New York Life.
by bltn
Thu Sep 17, 2020 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: What one Book to read about personal finance?
Replies: 40
Views: 2236

Re: What one Book to read about personal finance?

Lots of investing books, but not personal finance books have been mentioned. I think a big tome which can be used a reference and read "just in time" when needed might be better: Jane Bryant Quinn: Making the Most of Your Money Now A problem is that if it cannot be seen and used on a smart phone, t...
by bltn
Thu Sep 17, 2020 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Preparing for retirement in mid 30s
Replies: 239
Views: 13003

Re: Preparing for retirement in mid 30s

I believe that a family of four can get by on 45,000 a year. Will that be comfortable? Doubtful. Will there be financial security over the next 50 years? Not likely. What is more stressful? Working a job, even part time, or retiring and spending considerable effort to live within a tight budget? Wha...
by bltn
Tue Sep 15, 2020 8:27 pm
Forum: Personal Investments
Topic: Struggling Over whether to Sell my Tesla Stock
Replies: 42
Views: 2897

Re: Struggling Over whether to Sell my Tesla Stock

I've followed TSLA very closely and am a huge fan of the company. And I would sell in a heartbeat if I were you. There is wayyy more downside risk than upside potential over the next couple years. At it's current valuation, it's trading at a P/E of about 40:1 of best case scenario 2025 earnings. Le...
by bltn
Thu Sep 10, 2020 10:55 pm
Forum: Personal Finance (Not Investing)
Topic: Should we buy a $3M+ house with parental help?
Replies: 167
Views: 11443

Re: Should we buy a $3M+ house with parental help?

Take the money and buy a house. You want to live in the area, your expenses are low compared to your income and you got family throwing in ~50%. Don't take advice from people who don't understand how generational wealth works. You are lucky to have a family that is willing to support you. If you ar...
by bltn
Thu Sep 10, 2020 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Should we buy a $3M+ house with parental help?
Replies: 167
Views: 11443

Re: Should we buy a $3M+ house with parental help?

Dottie57 wrote: Thu Sep 10, 2020 8:19 pm
JoeRetire wrote: Thu Sep 10, 2020 4:38 pm
Sator wrote: Thu Sep 10, 2020 3:57 pmShould we endure the nagging or take them up on their offer?
Never get nagged into buying something you can't afford - even if the naggers help you buy it.
+1
Totally agree. Seems obvious, doesn t it?
by bltn
Thu Sep 10, 2020 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: What % of income to spend on car?
Replies: 122
Views: 7937

Re: What % of income to spend on car?

You should buy a 2005 accord for $5000. And drive it for 10 years. I make $200,000 and drive a $4000 22-year-old Japanese car. I am a similar age. It’s reliable, safe, and I am free. Stop burdening yourself with needless consumerism that will impede your long-term wealth generation. Don’t underesti...
by bltn
Thu Sep 10, 2020 8:10 pm
Forum: Personal Investments
Topic: Asset Allocation at age 61
Replies: 36
Views: 2992

Re: Asset Allocation at age 61

I would allot 50% to stocks, 90% of which would be in stock index funds. 40% in bond funds including currently a significant in short term and ultra short term funds. And 10% in cash, mostly cd s with early withdrawal penalties of 6 months interest or less. I would plan to withdraw 3.5% the first ye...
by bltn
Thu Sep 10, 2020 8:59 am
Forum: Personal Finance (Not Investing)
Topic: What % of income to spend on car?
Replies: 122
Views: 7937

Re: What % of income to spend on car?

You should buy a 2005 accord for $5000. And drive it for 10 years. I make $200,000 and drive a $4000 22-year-old Japanese car. I am a similar age. It’s reliable, safe, and I am free. Stop burdening yourself with needless consumerism that will impede your long-term wealth generation. Don’t underesti...
by bltn
Wed Sep 09, 2020 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Dog Bite Case (for real - and I own the dog)
Replies: 56
Views: 7486

Re: Dog Bite Case (for real - and I own the dog)

Just a small point. I had a long term job with Ma Bell where during the first 20 years of my career I had to enter yards and houses to do repairs. All visits were scheduled and people were asked to constrain their dogs. I was bitten 5 times by dogs that were not on leashes, twice by dogs who were n...
by bltn
Mon Sep 07, 2020 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: Quit corporate job @ age 34 with $1.3M?
Replies: 225
Views: 21817

Re: Quit corporate job @ age 34 with $1.3M?

I'm really envious of all these hard working underfunded guys retiring early while their wives work on... LOL - my first thought was, no way in my household am I working to ensure security while DH isn’t bustling his butt at a job. Wife-FIRE isn’t gonna happen over here... 8-) My second thought was...
by bltn
Mon Sep 07, 2020 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Cancel Husband's Term Insurance?
Replies: 41
Views: 3250

Re: Should I Cancel Husband's Term Insurance?

When did you decide to cancel your term life insurance? It's $200/month for $3 million in coverage. We can swing it, but we probably have enough to pay for all kids college, my retirement, house, medical care etc. Husband and I are in our early forties/late thirties. Am I being penny wise, pound fo...
by bltn
Mon Sep 07, 2020 8:31 pm
Forum: Personal Finance (Not Investing)
Topic: Emergency Fund vs. Debt Paydown
Replies: 21
Views: 1321

Re: Emergency Fund vs. Debt Paydown

This is a very strange economy, and is liable to be bad for a long time.

With the responsibility of a 3 yo son, I d keep my current emergency fund, and throw my savings at the credit card debt. I d try to pay it off in a year.
by bltn
Sun Sep 06, 2020 10:01 am
Forum: Personal Finance (Not Investing)
Topic: What is PenFed good at?
Replies: 77
Views: 5462

Re: What is PenFed good at?

I also joined PenFed when I discovered that the side business I was involved with was using their cc for gasoline purchases. I joined simply to get the 5% gasoline rebate. Then our side business truck needed to be replaced. I looked into it and discovered the PenFed car buying service. I was able to...
by bltn
Sun Sep 06, 2020 9:06 am
Forum: Personal Finance (Not Investing)
Topic: What Method of paying cash for car: EFT vs check?
Replies: 31
Views: 1774

Re: What Method of paying cash for car: ECF vs check?

I ve never had a problem with using personal checks for car purchases. With my next car, I m going to try to use cash back credit cards. I ll then pay off the credit card amounts the that month.
by bltn
Sun Sep 06, 2020 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford a 1.3 mil house?
Replies: 36
Views: 3552

Re: Can I afford a 1.3 mil house?

I agree with the others. !.3 million is a bit expensive at your stage of savings and your income in a notoriously unstable employment field, long term.
by bltn
Sat Sep 05, 2020 4:11 pm
Forum: Personal Investments
Topic: What single individual stock would you buy?
Replies: 163
Views: 14687

Re: What single individual stock would you buy?

I'd buy a lottery ticket instead. Greater risk but potentially greater reward. This is what I was thinking. Buying individual stocks is a gamble. Having never been much a gambler ( I didn t realize individual stock investment was such a gamble for a novice like me, when I was younger) my only incli...
by bltn
Sat Sep 05, 2020 11:51 am
Forum: Personal Investments
Topic: Is a tax loss harvest earlier in the year an opportunity to now offload some shares with the largest gains?
Replies: 7
Views: 694

Re: Is a tax loss harvest earlier in the year an opportunity to now offload some shares with the largest gains?

1. If I rebalance I want to minimum taxes, so I do rebalancing in my tax-advantaged accounts like an IRA or 401(k) and NOT in my taxable account. My portfolio is set up so that I don't need to use my taxable account for rebalancing. 2. If I need to sell shares in my taxable for any purpose, then I ...
by bltn
Sat Sep 05, 2020 8:30 am
Forum: Personal Investments
Topic: Prepay student loans OR megabackdoor Roth? (26 y/o in Biglaw; 190k salary; 180k debt)
Replies: 82
Views: 4936

Re: Prepay student loans OR megabackdoor Roth? (26 y/o in Biglaw; 190k salary; 180k debt)

I think there is an appeal to both accumulating a Roth IRA and retiring the student loans. In your situation I would do both. I would contribute 6000 to a back door Roth. I would then aggressively pay off the student loans. I would also build up my taxable account a bit. I guess my overall plan woul...
by bltn
Fri Sep 04, 2020 8:05 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Question - Take Cash Surrender Value
Replies: 15
Views: 1102

Re: Life Insurance Question - Take Cash Surrender Value

Why spend money on something oF no benefit to you? You don t need it. Take out your cash value.
“Investing” in life insurance is usually suboptimal.
by bltn
Tue Sep 01, 2020 8:39 am
Forum: Personal Investments
Topic: Early retirees who were close - how are you adjusting
Replies: 47
Views: 6770

Re: Early retirees who were close - how are you adjusting

I retired in August officially after leaving my job on accumulated vacation pay at the end of May at 56 aided by a militant pension which enabled us to hyper save during our post military career. We moved to a radically lower COL location also in May (Hawaii to Western North Carolina). Refinanced o...
by bltn
Tue Sep 01, 2020 8:07 am
Forum: Personal Investments
Topic: Early retirees who were close - how are you adjusting
Replies: 47
Views: 6770

Re: Early retirees who were close - how are you adjusting

I retired in August officially after leaving my job on accumulated vacation pay at the end of May at 56 aided by a militant pension which enabled us to hyper save during our post military career. We moved to a radically lower COL location also in May (Hawaii to Western North Carolina). Refinanced o...
by bltn
Sat Aug 29, 2020 10:04 pm
Forum: Personal Finance (Not Investing)
Topic: At what point can you afford a 2nd home?
Replies: 46
Views: 3849

Re: At what point can you afford a 2nd home?

aside from forcing myself into one vacation location I have never known of a single person whose second home did that to them. It's not a thing. I grew up in Wisconsin where tons of middle class folks owned a second home "up north". It's a weekend getaway; vacations are taken elsewhere. If you don'...
by bltn
Sat Aug 29, 2020 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: At what point can you afford a 2nd home?
Replies: 46
Views: 3849

Re: At what point can you afford a 2nd home?

Having had a work related home and a second home since my mid 30 s, and later a vacation home, I suppose my advice would be to be able to afford the two house payments (to include taxes and insurance) , and to afford double the maintenance expenses, and still be able to save 25-40% of your take home...
by bltn
Thu Aug 27, 2020 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: Finding balance in life: When do you let up off the gas?
Replies: 105
Views: 9584

Re: Finding balance in life: When do you let up off the gas?

Thank you everyone for your thoughts. Some people have said I didn’t give enough facts to give the right advice. I took a closer look at my finances after reading these posts. I have a few refis pending at the moment that will close shortly. My NW will be broken down as follows after the refis clos...
by bltn
Thu Aug 27, 2020 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Quit corporate job @ age 34 with $1.3M?
Replies: 225
Views: 21817

Re: Quit corporate job @ age 34 with $1.3M?

I'm really envious of all these hard working underfunded guys retiring early while their wives work on... LOL - my first thought was, no way in my household am I working to ensure security while DH isn’t bustling his butt at a job. Wife-FIRE isn’t gonna happen over here... 8-) My second thought was...
by bltn
Wed Aug 26, 2020 8:05 am
Forum: Personal Finance (Not Investing)
Topic: Poll of the retirees among us--spending in retirement
Replies: 76
Views: 6654

Re: Poll of the retirees among us--spending in retirement

I think that unless you reduce travel or downsize your home spending will be about the same. There are other aspects of less spending as one ages. We find that we are going out to eat less, and when we do, we have less interest in expensive “gourmet” restaurants. We also have less interest inexpens...
by bltn
Tue Aug 25, 2020 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: Advising retired couple on buying second home
Replies: 33
Views: 2772

Re: Advising retired couple on buying second home

Maybe the parents or the children should consider moving closer to the rest of the family, be it west coast or east coast.

Owning two homes 3000 miles apart, with limited funds, doesn t seem feasible. Too many reasons why 3000 a month may not cover expenses in the future.
by bltn
Tue Aug 25, 2020 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: Quit corporate job @ age 34 with $1.3M?
Replies: 225
Views: 21817

Re: Quit corporate job @ age 34 with $1.3M?

Keep saving and lets talk in 3-5 years :) Great advice! Also, switch to a non rat-race tech job. (They're out there.) I can't stress enough what a huge life improvement it is having a tech job with normal hours and a nice boss. It's even better now that permanent WFH is happening. Instead of the ru...
by bltn
Tue Aug 25, 2020 8:34 am
Forum: Personal Finance (Not Investing)
Topic: New Job Offer - $100,000 Raise - Would I Be a Fool to Not Accept?
Replies: 94
Views: 7792

Re: New Job Offer - $100,000 Raise - Would I Be a Fool to Not Accept?

I m a bit surprised at the number of people mentioning the commute as a deciding factor. In my job I worked from a home 10 minutes away, and later moved to another house 1 hour away. The second home added two hours to my day, but I never minded driving. I usually avoided the rush traffic by coming i...
by bltn
Tue Aug 25, 2020 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Do you talk to your friends/family/coworkers about this stuff?
Replies: 210
Views: 16285

Re: Do you talk to your friends/family/coworkers about this stuff?

A long-time close personal friend told me about his finances. The only reason he did so was because he knew it wouldn't go anywhere and it was in the context of helping a family member. All OK, he knows what he's doing. I briefly mentioned my situation as a way to reciprocate the trust we have in e...
by bltn
Tue Aug 25, 2020 8:13 am
Forum: Personal Finance (Not Investing)
Topic: Do you talk to your friends/family/coworkers about this stuff?
Replies: 210
Views: 16285

Re: Do you talk to your friends/family/coworkers about this stuff?

I have no one to talk to about finances. My parents set a great example of LBYM, but they fear the market, so they have a house with no mortgage, no car loans or credit card debt, a nice business, cash and gold. I can't talk to my friends because at this point it is too late for them to catch up an...
by bltn
Mon Aug 24, 2020 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Do you talk to your friends/family/coworkers about this stuff?
Replies: 210
Views: 16285

Re: Do you talk to your friends/family/coworkers about this stuff?

I really wish someone had educated me about these things a decade ago. However I know talking about money/finances is generally frowned upon socially so most people don't. Do you guys try to educate or talk to your social circle about these things? Why or why not? EDIT: Additional question for the ...
by bltn
Thu Aug 20, 2020 1:21 pm
Forum: Personal Investments
Topic: I’m done with index funds
Replies: 239
Views: 34864

Re: I’m done with index funds

I think it's great you found a strategy that works for you. But let me be the ghost of a non-religious winter holiday future. Tax-loss harvesting while maintaining stock exposure does not necessarily eliminate taxes, especially so for you because you are HNW=rich and will usually have an extremely ...
by bltn
Wed Aug 19, 2020 8:07 pm
Forum: Personal Investments
Topic: How often are you adding to taxable accounts?
Replies: 78
Views: 4771

Re: How often are you adding to taxable accounts?

Once a month is fine.
by bltn
Tue Aug 18, 2020 8:28 pm
Forum: Personal Investments
Topic: Moving from vanguard, what to do with funds?
Replies: 27
Views: 1911

Re: Moving from vanguard, what to do with funds?

With brokerage accounts at Vanguard and Fidelity for many years, I like the service from both equally. The lower fees make the fixed income funds better at Vanguard, generally.
by bltn
Tue Aug 18, 2020 11:37 am
Forum: Personal Finance (Not Investing)
Topic: Did any inheritance make positive effect on your life?
Replies: 229
Views: 18951

Re: Did any inheritance make positive effect on your life?

Our story: My step-mother imo didn't adhere to my father's wishes as to how his bequest would be carried out when she subsequently died. He had wanted the assets to be split equally between his 3 biological children and 1 step-child. My step-mother instead tilted towards her two biological children...
by bltn
Tue Aug 18, 2020 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Should I become a Professional Gambler?
Replies: 84
Views: 8278

Re: Should I become a Professional Gambler?

I m not a gambler but I had a business partner who played blackjack several times a year. He showed me a a list of instructions for blackjack that, if followed, would decrease the house s winning percentage to 51-52%. That makes blackjack sound like it follows the principal of reversion to a mean, l...
by bltn
Mon Aug 17, 2020 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Opinions Needed - Are We Good?
Replies: 35
Views: 4770

Re: Opinions Needed - Are We Good?

Waking this thread up one more time to discuss progress over the last 3 years. It really is amazing how much time flies. The wife and I have decided to call it a career in October 2020, maybe earlier. We have emphasized saving over the last number of years and feel like we are at a point where we c...
by bltn
Sun Aug 16, 2020 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: Did any inheritance make positive effect on your life?
Replies: 229
Views: 18951

Re: Did any inheritance make positive effect on your life?

Receiving an inheritance gave me a sense of responsibility. I felt (and still feel) the money belongs to the family and I need to manage it responsibly. +1 Outstanding approach and attitude. My attitude was that every dime that was given to me by my parents represented the net fruit of their lifeti...
by bltn
Sat Aug 15, 2020 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: Risk with paying someone with a personal check
Replies: 76
Views: 5135

Re: Risk with paying someone with a personal check

I have never worried about and never had fraud committed in more than 45 years of having accounts with checks and sending checks to lots of places and trades people, friends, enemies, stores, US government, state governments, utilities, whatever, wherever. I agree . If someone were able to cash a f...
by bltn
Sat Aug 15, 2020 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: Did any inheritance make positive effect on your life?
Replies: 229
Views: 18951

Re: Did any inheritance make positive effect on your life?

We have not used the inheritances that we received from my parents or my wife s parents. My parents money went into a trust for the kids. My wife parents' money was saved in her personal emergency fund. I don t see us ever spending either of these. My sister has used our parents inheritance to help ...
by bltn
Sat Aug 15, 2020 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Financially Independent young - why not retire?
Replies: 42
Views: 5713

Re: Financially Independent young - why not retire?

Just because you can retire doesn t mean you should. If you like your work or prospective work, then financial security is just one more aspect of having a degree of control in your life. Continued work that you like is as nice a way to spend your life as occupying your time with unpaid tasks you en...
by bltn
Thu Aug 06, 2020 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Compare the state tax across states - California, Florida
Replies: 69
Views: 5867

Re: Compare the state tax across states - California, Florida

No income tax in Florida. Moderate property tax.
by bltn
Wed Aug 05, 2020 10:18 am
Forum: Personal Finance (Not Investing)
Topic: In retirement, a $100 monthly expense needs $30,000 in your portfolio
Replies: 179
Views: 22752

Re: In retirement, a $100 monthly expense needs $30,000 in your portfolio

As an aside. I think “lifestyle creep” is a pretty negative term around here and often refers to unnecessary or frivolous spending. Of course, that isn’t always the case. When I think back to my lifestyle just out of school and compare it to my lifestyle now (just turned 70, fully retired 14 years)...
by bltn
Wed Aug 05, 2020 9:31 am
Forum: Personal Finance (Not Investing)
Topic: In retirement, a $100 monthly expense needs $30,000 in your portfolio
Replies: 179
Views: 22752

Re: In retirement, a $100 monthly expense needs $30,000 in your portfolio

I told my wife that the house she picked out would delay retirement by 10 years, and she said she was okay with that. Her retirement or yours? Reminds of one of my friends who after he and his wife moved into a a very nice house. He told his wife. that he may not be able to retire for a number of y...
by bltn
Mon Aug 03, 2020 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Rental property investing and #'s explained (why real estate can be a great investment)
Replies: 138
Views: 8975

Re: Rental property investing and #'s explained (why real estate can be a great investment)

Here is my more realistic scenario: $500k 2/2 condo in downtown Chicago Annual rent: $35k Annual HOA: $11k Annual property tax: $9k Unleveraged Annual profit: $15k (only 3% return!) Leveraged up 50% at 3%, annual interest cost: $7.5k Leveraged annual profit: $7.5k (still only 3% return!) :oops: Tha...
by bltn
Mon Aug 03, 2020 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Losing a job in your 50's...
Replies: 571
Views: 87499

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

There are advantages and disadvantages of being self employed. As a former small business owner, I know that I much preferred being in control of my job and work life, even if people with similar jobs employed by big companies might have made more money and worked fewer hours. I never had to worry ...