Search found 638 matches

by runner540
Sun Jun 17, 2018 10:22 am
Forum: Personal Finance (Not Investing)
Topic: How to calculate "fun money" per year?
Replies: 36
Views: 2787

Re: How to calculate "fun money" per year?

Take care of family, basic needs, and saving, then give and spend the rest. I find it helpful to roughly match $ of giving and fun spending.
by runner540
Fri Jun 15, 2018 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: can we afford to spend $20K on travel annually
Replies: 89
Views: 6644

Re: can we afford to spend $20K on travel annually

Do it while you can! We took our kids to Aruba several times when they were little. These days (17 and 21), summer internship, work, school/college vacations not lined up, decisions on where to go make it much harder for our family. We've decided to take a vacation this year which will have to wait...
by runner540
Sun Jun 10, 2018 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: How much rent can one afford?
Replies: 4
Views: 499

Re: How much rent can one afford?

Keep housing/rent under 25% of income, to be able to save and spend on other categories. But, if you can spend less to get a place you're happy with, do that.
by runner540
Sun Jun 10, 2018 1:35 pm
Forum: Investing - Help with Personal Investments
Topic: Age 33 Financials- Thinking of buying a second home- please critique
Replies: 5
Views: 583

Re: Age 33 Financials- Thinking of buying a second home- please critique

What job pays $300k plus stock, AND allows for frequent 3 day weekends away? You will be exposed to $1.8MM in housing assets. If the market hiccups, your net worth will be significantly impacted. Are you comfortable with that? You will have $465k mortgage, plus $960k mortgage on the vacation propert...
by runner540
Sun Jun 10, 2018 1:00 pm
Forum: Investing - Help with Personal Investments
Topic: Help with investments and long term financial road
Replies: 15
Views: 1167

Re: Help with investments and long term financial road

Welcome. You are a good candidate to benefit from Dave Ramsey's plan. Listen to his podcast, read his book, take the class - whatever format will help you. You have an emergency of 15% interest. No investment is going to make enough to cover that. Stop the investing, build a budget, stop all discret...
by runner540
Sat Jun 09, 2018 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: Another home thread: 2mil / 40K in taxes
Replies: 59
Views: 5387

Re: Another home thread: 2mil / 40K in taxes

+1 about SALT. I think the 10K ceiling on the property tax and income taxes as well as the 750K cap on mortgage dept will end up having a dramatic effect on New York, California and Illinois as people learn more about it and as it works its way through the system. Generally agree. However, I think ...
by runner540
Sat Jun 09, 2018 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Are you including SS in your planning model? Are the benefits really that high?
Replies: 148
Views: 11161

Re: Are you including SS in your planning model? Are the benefits really that high?

I don't assume any SS but I am a little younger. Essentially, I know some things will change dramatically in the next 60 years, and I figure ignoring SS is a margin for error. (maybe Medicare premiums go way up for people with assets, or a VAT tax is added that reduces the value of Roth post tax, or...
by runner540
Fri Jun 08, 2018 10:36 pm
Forum: Investing - Help with Personal Investments
Topic: New to investing and just got an inheritance
Replies: 22
Views: 1599

Re: New to investing and just got an inheritance

Keep in mind that this is your wife’s inheritance and she will need to take a role in all this. You cannot act on her behalf. She will need to contact the new institution, sign the papers, etc. +1 OP, the law views this money as your wife's right now. If she takes some action, like mixing it into y...
by runner540
Fri Jun 08, 2018 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Private sector pensions/multiple income streams- value?
Replies: 4
Views: 422

Re: Private sector pensions/multiple income streams- value?

I would not tell a friend of mine to make this decision on a small possible different in retirement formulas. Compounded over time, there might be a material difference, but more likely is that things will change the formulas over time. Choose based on coworkers, commute, culture, opportunities to l...
by runner540
Fri Jun 08, 2018 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house in Florida but you are hundreds of miles away
Replies: 33
Views: 2711

Re: Buying a house in Florida but you are hundreds of miles away

jebmke wrote:
Fri Jun 08, 2018 5:46 pm
^ I would add, Florida is a pretty big and diverse state. I grew up in northern Florida - it is quite unlike many other parts of the state. Talking about Florida as a monolith is almost like talking about "Europe."
Thanks for my laugh of the day!! 8-)
by runner540
Thu Jun 07, 2018 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Stuck in Quicksand (Guidance Appreciated)
Replies: 46
Views: 3359

Re: Stuck in Quicksand (Guidance Appreciated)

So, a top 2% salary with family time aplenty? Would you also like to telecommute and live in a LCOL area? Try volunteering for the needy and doing some reading on contentment. Maybe some meditation? I have heard that helps. Being stuck in a quicksand pit of upper middle class America is MANY people...
by runner540
Tue Jun 05, 2018 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Downsize due to tax law change?
Replies: 31
Views: 1695

Re: Downsize due to tax law change?

WhiteMaxima wrote:
Tue Jun 05, 2018 11:46 am
$11000 property tax? You could probably rent an Apt for $1000/month to save the property tax and use the mortgage saving for retirement saving.
If this is in TX, $320k 6 years ago could have appreciated 50%, to almost $500k, and the property tax rate is 2.7% in Dallas.
by runner540
Mon Jun 04, 2018 11:59 am
Forum: Personal Consumer Issues
Topic: Is our monthly Personal money out of line?
Replies: 74
Views: 7463

Re: Is our monthly Personal money out of line?

Thanks for all the great responses. To me, "optimize spending" means not wasting money and getting the most utility out of what we do spend it on. Now I know that "wasting money" means different things to different people. :beer I do like the perspective that as long as we're on track to meet our f...
by runner540
Sun Jun 03, 2018 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Expensive house in HCOL area
Replies: 70
Views: 6258

Re: Expensive house in HCOL area

Commute times are key when you have kids, particularly if both of you plan to continue to work. If that is the situation, then go for option #2 which is affordable given your income(s). That said, a 3-bedroom house is going to get pretty crowded with 3-4 kids plus a nanny/grandparent. Not getting m...
by runner540
Sun Jun 03, 2018 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: Expensive house in HCOL area
Replies: 70
Views: 6258

Re: Expensive house in HCOL area

Lenders will approve a lot of things right now, so ignore what they are telling you and do your own math about what you can afford. Read this Bloomberg article if you don't believe me. https://www.bloomberg.com/news/features/2018-05-24/small-time-bankers-make-millions-peddling-mortgages-to-the-poor ...
by runner540
Sun Jun 03, 2018 8:39 am
Forum: Investing - Help with Personal Investments
Topic: Need some direction: 5K payout in July....towards loans or Roth?
Replies: 18
Views: 947

Re: Need some direction: 5K payout in July....towards loans or Roth?

I hate debt, and would suggest you pay off debt with all of the $5k. That would drive me nuts to have that many little bills. You can do the Dave Ramsey smallest to largest balance (which means you would pay off $682, $2066 and $1981), which also happen to be two of the higher interest rates. Keep p...
by runner540
Sun Jun 03, 2018 7:18 am
Forum: Personal Consumer Issues
Topic: Need advice on 1st international vacation
Replies: 106
Views: 5751

Re: Need advice on 1st international vacation

Since it will be your first time abroad and you speak only English, start with the UK: England, Ireland, Scotland. And flight times aren't bad from the East Coast. Then you can move the more advanced levels of non-English speaking countries. Thanks, this is what I have been thinking too. I'm not on...
by runner540
Sat Jun 02, 2018 6:21 pm
Forum: Personal Consumer Issues
Topic: Is our monthly Personal money out of line?
Replies: 74
Views: 7463

Re: Is our monthly Personal money out of line?

Fellow BH's: I'm curious what people allocate in their monthly budget for personal money. My wife and I take home about $13,500 a month on average (not including a yearly bonus in March). I set aside $500 in our budget spreadsheet for me (this also covers misc trips to Home Depot and the like). I h...
by runner540
Sat Jun 02, 2018 3:37 pm
Forum: Personal Consumer Issues
Topic: Need advice on 1st international vacation
Replies: 106
Views: 5751

Re: Need advice on 1st international vacation

Since it will be your first time abroad and you speak only English, start with the UK: England, Ireland, Scotland. And flight times aren't bad from the East Coast. Then you can move the more advanced levels of non-English speaking countries.
by runner540
Sat Jun 02, 2018 1:20 am
Forum: Personal Finance (Not Investing)
Topic: Just bought condo; crazy to take out HELOC to buy a parking spot?
Replies: 28
Views: 2789

Re: Just bought condo; crazy to take out HELOC to buy a parking spot?

$2850 mortgage with >$10k monthly salary doesn't sound crazy, but I would (1) stop all 403 contributions until you rebuild a healthy emergency fund, and (2) batten down the hatches on all discretionary expenses. It wasn't clear to me if you are both on the deed and Mortgage, amd whether you are marr...
by runner540
Thu May 31, 2018 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Beach condo vs mountain cabin investment property
Replies: 30
Views: 2535

Re: Beach condo vs mountain cabin investment property

Can you please clarify if you have any euity in your primary home?
Your retirement accounts, cash and mutual funds seem to be the same as your NW $1.2MM
by runner540
Wed May 30, 2018 3:41 am
Forum: Personal Consumer Issues
Topic: Advice on neighbor not keeping up his property...
Replies: 103
Views: 7434

Re: Advice on neighbor not keeping up his property...

Sounds like you bought in a transitional neighborhood. $500k house on HCOL sounds like you think you got a deal on the house. If you want to live in a perfectly manicured neighborhood, you need to spend more. Can't have it all.
by runner540
Tue May 29, 2018 1:18 am
Forum: Investing - Theory, News & General
Topic: Renting vs Owning Your Home
Replies: 166
Views: 13371

Re: Renting vs Owning Your Home

To be fair, this insurance discussion is still not comparing apples to apples. The renter buys rental insurance to cover her clothes, furniture and electronics (the contents in the rented space), while the homeowner is insuring the building as well as the contents. I think the contents are insured ...
by runner540
Mon May 28, 2018 10:11 am
Forum: Investing - Theory, News & General
Topic: Renting vs Owning Your Home
Replies: 166
Views: 13371

Re: Renting vs Owning Your Home

I find this to be an interesting thread. I'd like to add New York City into the mix. I know earlier in the thread someone said that buying in NYC made a lot of sense. However, I've come to think it seems a little crazy, at least right now. However, I might look back and think that I was crazy not t...
by runner540
Mon May 28, 2018 8:14 am
Forum: Investing - Theory, News & General
Topic: Renting vs Owning Your Home
Replies: 166
Views: 13371

Re: Renting vs Owning Your Home

You don't say much about valuation, but then you also say that you "ran numbers" for your family. Is there any relative price at which Someone should hesitate from buying? Here's an different kind of anecdote: rent is $1750/month (annual rent of $21k). Comparable unit sells for $375k. Property taxe...
by runner540
Sat May 26, 2018 6:18 pm
Forum: Investing - Theory, News & General
Topic: Renting vs Owning Your Home
Replies: 166
Views: 13371

Re: Renting vs Owning Your Home

I started this post as a response to a specific rent vs buy thread, but decided to give it its own thread to allow for general discussion. Outside the Bogleheads community, many people feel that buying a house is the ticket to building wealth. Based on a few threads I've seen, it seems to me that m...
by runner540
Sat May 26, 2018 4:04 am
Forum: Personal Consumer Issues
Topic: I need advice on having 2 jobs.
Replies: 25
Views: 2886

Re: I need advice on having 2 jobs.

Take the Big 4 job and the pay cut, and quit your overnight, dead end job. This is not a close call: big 4 will give you way more growth potential inside and outside the firm. They (Big 4) very reasonably expects you to be available to travel for clients and training, and is not going to approve a s...
by runner540
Wed May 23, 2018 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing a house, downpayment vs. retirement and other considerations
Replies: 158
Views: 5760

Re: Purchasing a house, downpayment vs. retirement and other considerations

I also live in the Boston area, am about your age, with about your income, and am currently buying a condo, and just wanted to chime in with the chorus that your plan makes me shudder with dread. I have run similar numbers, and agree with others that you likely will not have enough when including a...
by runner540
Sat May 19, 2018 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: Good time to buy a house or wait it out
Replies: 21
Views: 2034

Re: Good time to buy a house or wait it out

This isn’t about investing, since I don’t look at the purchase of a primary home in the same way as my investments, so I’m not necessarily trying to “time the market”, but I would like a consensus of would you buy now or rent for a year and wait the market out? I don’t want to wind up buying at the...
by runner540
Thu May 17, 2018 9:01 am
Forum: Investing - Help with Personal Investments
Topic: Urgent: escrow situation in bay area
Replies: 50
Views: 2973

Re: Urgent: escrow situation in bay area

I think your mortgage is high for your salary, but you can make it work. I did something very similar to you back in 2010, with similar to lower salary than you. I have a slightly higher salary than you, and I will tell you that 960k mortgage, you are paying $5000 (or more) a month in P&I. You will...
by runner540
Thu May 17, 2018 7:35 am
Forum: Investing - Help with Personal Investments
Topic: Urgent: escrow situation in bay area
Replies: 50
Views: 2973

Re: Urgent: escrow situation in bay area

Here's what I see: you are going to double your housing cost AND quadruple your commute, all while signing up for a mortgage that is 4-5x your income. I would be really unhappy making those trades. What are you getting in return that is worth all that? Earnings at age 43: may be peak earnings, don't...
by runner540
Wed May 16, 2018 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Downsizing in 8 years. Buy now?
Replies: 18
Views: 1729

Re: Downsizing in 8 years. Buy now?

If this second house will be only a small part of your total portfolio, maybe do it. If you couldn't rent it, how long could you cover the payment? Those two reasons (rising interest rates and rising home prices) don't seem good enough to me. Besides, in 8 years you'll have a lot more equity in your...
by runner540
Mon May 14, 2018 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: What is the most deduction you can get with mortgage interest deduction for 2018?
Replies: 10
Views: 1904

Re: What is the most deduction you can get with mortgage interest deduction for 2018?

Keep in mind that SALT $10k includes the sales tax deduction now as well :( But sales, SALT and morgatage interest are part of itemized deductions right? So if there's more than >$24K if MFJ then it makes sense to take it, no? I'm trying to figure out what is the cap on mortgage interest from a ded...
by runner540
Sun May 13, 2018 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 12437

Re: New(ish) attending physicians in the Bay Area: Housing

We’ve apparently entered some sort of vortex where things are very different. Perhaps it’s a bubble that will pop. I don’t normally bet on such things but, when two physicians can’t afford a home in the area, something absurd is happening. I’d save money and be ready to pounce when the right opport...
by runner540
Fri May 11, 2018 4:22 pm
Forum: Investing - Help with Personal Investments
Topic: New Job - Use High Fee 401k With Match or Other?
Replies: 31
Views: 1356

Re: New Job - Use High Fee 401k With Match or Other?

That is very high (combined 2.2% ?). If she plans on working there a while, I would eventually discuss it with them. If she doesn't plan on working there a long time, then you could at least contribute to the match and roll it over when she moves. How about traditional IRA's? Kids on the way? You c...
by runner540
Fri May 11, 2018 11:46 am
Forum: Personal Finance (Not Investing)
Topic: Housing "slow down"
Replies: 8
Views: 1929

Re: Housing "slow down"

Seems like every market is pricing in being the next Amazon HQ, and only one city can be. Here is a robust data analysis, updated monthly. http://www.aei.org/publication/mortgage-risk-index-release-of-january-2018-data/ You can listen to the researcher's call as well. Short story is that lenders are...
by runner540
Thu May 10, 2018 10:34 pm
Forum: Personal Finance (Not Investing)
Topic: ques
Replies: 47
Views: 4508

Re: Should I pay cash for a house?

Go for it! (as long as you are not taking money out of tax advantaged retirement accounts to do it) Are you in TX with those property taxes? I am planning to do the same in a few years. Some will say you could come out a little ahead mathematically with leverage. But, you'll feel great being debt fr...
by runner540
Tue May 08, 2018 11:11 pm
Forum: Investing - Help with Personal Investments
Topic: Breaking Up and Staying On Good Terms with an Advisor
Replies: 28
Views: 3168

Re: Breaking Up and Staying On Good Terms with an Advisor

Read this recent thread about getting locked out of an EJ account: https://www.bogleheads.org/forum/viewtopic.php?f=1&t=248678&newpost=3916240 Have Vanguard (or other low cost provider) initiate the transfer. After it's done, you can touch base with a quick email note of thanks. Don't get into defen...
by runner540
Sun May 06, 2018 8:32 am
Forum: Personal Consumer Issues
Topic: Do we spend too much on food?
Replies: 71
Views: 6237

Re: Do we spend too much on food?

According to the BLS (instead of anecdotes): Hey AlohaJoe, Thanks for mentioning BLS. I went to the website to see what other cool stuff they have and can't find anything other than unemployment data. Would you mind posting a link to where you go this information? Maybe he meant the USDA food plans...
by runner540
Sat May 05, 2018 10:27 am
Forum: Personal Finance (Not Investing)
Topic: How much can I spend on a house?
Replies: 14
Views: 2078

Re: How much can I spend on a house?

Thanks, all, for useful ideas. To answer a few questions: 1. I have money in taxable in a money market that I could use for the condo, so I wouldn't have to pay any cap gains to get that money (unless I went over about 620,000--then I could sell bonds for a loss). 2. The reason for moving now is th...
by runner540
Sat May 05, 2018 7:04 am
Forum: Personal Finance (Not Investing)
Topic: How much can I spend on a house?
Replies: 14
Views: 2078

Re: How much can I spend on a house?

Interesting twist on the house affordability question. Very important: does the $50k annual budget include property taxes, maintenance, insurance, etc. for a new $600k condo? If not, please revise that number to include those costs. If the $50k budget holds, you need $3k/month from investments for a...
by runner540
Fri May 04, 2018 6:21 pm
Forum: Investing - Help with Personal Investments
Topic: Ed. Jones rep didn't like our plan, now we're locked out
Replies: 152
Views: 18219

Re: Ed. Jones rep didn't like our plan, now we're locked out

I’d be tempted to tell EJ that they have 24 hours to give me access to my account or i’ll be posting on Facebook. Nothing like a little public shaming when warranted. +1 Thanks to mandatory arbitration in most consumer "contracts", they've taken away the court of law as a means of recourse, leaving...
by runner540
Thu May 03, 2018 7:30 pm
Forum: Investing - Help with Personal Investments
Topic: How to treat a mortgage in context of long term investment
Replies: 12
Views: 1235

Re: How to treat a mortgage in context of long term investment

If you are investing in taxable while holding a mortgage at 3.875%, you are indeed betting that your aftertax rerurns will be higher than 3.875% (you're paying the mortgage with after tax dollars). I disagree. Investing gives higher returns and TLH opportunities, both of which will likely provide m...
by runner540
Wed May 02, 2018 10:18 pm
Forum: Investing - Help with Personal Investments
Topic: How to treat a mortgage in context of long term investment
Replies: 12
Views: 1235

Re: How to treat a mortgage in context of long term investment

If you are investing in taxable while holding a mortgage at 3.875%, you are indeed betting that your aftertax rerurns will be higher than 3.875% (you're paying the mortgage with after tax dollars).
by runner540
Sun Apr 29, 2018 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Moving - should I rent or buy?
Replies: 24
Views: 1642

Re: Moving - should I rent or buy?

Thanks for the responses! So my intent to rent it out after I move on isn't good enough to justify the house? I thought that was the perfect way to get a rental property. No, that is years away. In the meantime, it sounds like you haven't lived in this new city before, and you haven't set up and pa...
by runner540
Sun Apr 29, 2018 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Moving - should I rent or buy?
Replies: 24
Views: 1642

Re: Moving - should I rent or buy?

This is easy: rent!

Reasons:
-You get used to living on your own and paying for everything
-You learn your new city and make sure you like it (and figure out a neighborhood) before you commit to a house
-Stay flexible
by runner540
Sat Apr 28, 2018 6:08 pm
Forum: Investing - Theory, News & General
Topic: How does one optimally prepare for predictable, lumpy expenses while consistently investing?
Replies: 22
Views: 2140

Re: How does one optimally prepare for predictable, lumpy expenses while consistently investing?

#1. I "accrue" 1/12 of all my annual or irregular expenses (insurance premiums, travel, holiday gifts, etc.) into my monthly budget, along with my regular monthly investing. So my checking account does fluctuate, but I am happy keeping a big cushion in there. I don't worry or have to move money arou...
by runner540
Sat Apr 28, 2018 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Would you make this financial decision??
Replies: 18
Views: 1690

Re: Would you make this financial decision??

We are a rural midwest couple working in an expensive area in TN. DH has been working fulltime for sometime now and I started working just last month. We are in late 30’s. DH salary 130k, my salary 75k. Our monthly rent is 1350. We are considering buying a upper 500s new house that will actually be...
by runner540
Sat Apr 28, 2018 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Would you make this financial decision??
Replies: 18
Views: 1690

Re: Would you make this financial decision??

We are a rural midwest couple working in an expensive area in TN. DH has been working fulltime for sometime now and I started working just last month. We are in late 30’s. DH salary 130k, my salary 75k. Our monthly rent is 1350. We are considering buying a upper 500s new house that will actually be...
by runner540
Sat Apr 28, 2018 8:57 am
Forum: Personal Consumer Issues
Topic: Wedding - financial burden on couple and attendees
Replies: 168
Views: 10632

Re: Wedding - financial burden on couple and attendees

Can't believe this thread hasn't been locked yet. For those who harken back to the good old days when you could have a big celebration affordably, here's an article by the founder of a website called "The Practical Wedding", about what her parents' 1974 $2,000 wedding costs, and what the same event ...