Search found 302 matches

by NYC_Guy
Sun Jan 12, 2020 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Can we retire?
Replies: 120
Views: 11295

Re: Can we retire?

- We both should be able to collect near maximum SS benefit once we get there. If you retire next year, you have not earned enough 35 years for SS calculation, how can you collect near maximum SS benefits? Anyway, you can retire. Just saying. I’m the same age and I’m near maximum too. Once you have...
by NYC_Guy
Thu Aug 22, 2019 9:32 am
Forum: Personal Consumer Issues
Topic: RESOLVED: Dual-use "dress" / comfy shoes: Matte Black, locally sourced--starting with Brown Rockport Pro-walkers
Replies: 24
Views: 2254

Re: Dual-use "dress" / comfy shoes: Matte Black, locally sourced--starting with Brown Rockport Pro-walkers

Mephisto. Buy online a few sizes and return what doesn’t fit. They are not cheap. But definitely worth it.
by NYC_Guy
Fri Aug 16, 2019 7:07 am
Forum: Personal Consumer Issues
Topic: Woodstock
Replies: 93
Views: 9605

Re: Woodstock as it happened

Actually, I would argue the 60s ended with the rise of punk rock. A counter culture reaction to a counter culture movement.
by NYC_Guy
Thu Aug 15, 2019 12:33 pm
Forum: Personal Consumer Issues
Topic: Neighbor's FIOS cable running over my yard
Replies: 52
Views: 7623

Re: Neighbor's FIOS cable running over my yard

The correct answer is the easement. Does Verizon have one and what does it say? This will be filed in the land records that apply to the property. If you are in a planned development, there may be a master plan. Often the electric utility easement provides for telecom too. And the telecoms operate u...
by NYC_Guy
Thu Aug 15, 2019 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Net-worth rule of thumb for house purchase?
Replies: 123
Views: 6700

Re: Net-worth rule of thumb for house purchase?

cherijoh, Survivorship bias. If after you bought the condo, we hit a recession and you were unemployed, it would not work out the same way. KlangFool Not all risk can or should be eliminated. Buying a house or condo has financial and non-financial benefits when done with prudence, even when little ...
by NYC_Guy
Thu Aug 15, 2019 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Net-worth rule of thumb for house purchase?
Replies: 123
Views: 6700

Re: Net-worth rule of thumb for house purchase?

OP, The net worth excluding the house should be 2.5 times or greater than the house's price. For example, if you want to buy a 400K house, your net worth excluding the house should be 1 million. The net worth should be after you pay the 20% down payment. In this case, the exact number would be 1.08...
by NYC_Guy
Fri Aug 02, 2019 10:08 am
Forum: Personal Consumer Issues
Topic: 'Gas Card' for teen - best option?
Replies: 29
Views: 1580

Re: 'Gas Card' for teen - best option?

So one of our kids is driving now and has a job, will also be driving to school. He'll need to gas up. I was going to just get him a copy of my credit card (Costco), but they said he must be a Costco member and for that one must be 18! That's not going to work. Next up would be our Alliant card but...
by NYC_Guy
Tue Jul 30, 2019 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Ethics of "bonus payback" when quitting a job
Replies: 158
Views: 11999

Re: Ethics of "bonus payback" when quitting a job

A duly appointed company representative more or less told you that you didn’t have to repay it. Case closed. If you think if will harm you not to repay it, then do so. There are no ethical considerations at play. If you choose to take your chances, you will have to deal with the consequences. Eithe...
by NYC_Guy
Tue Jul 30, 2019 6:28 pm
Forum: Personal Consumer Issues
Topic: What's your Uber passenger rating?
Replies: 118
Views: 7456

Re: What's your Uber passenger rating?

Anyone sub 4.5 is normally a jerk. They have personality issues, demanding too much out of their driver, commanding an alternate route (no, this isn't your car, I don't care if your route takes you there 1 min faster), no tippers, and treat their Uber drivers like garbage. I agree with this except ...
by NYC_Guy
Tue Jul 30, 2019 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Ethics of "bonus payback" when quitting a job
Replies: 158
Views: 11999

Re: Ethics of "bonus payback" when quitting a job

Commercial contracts don’t create ethical obligations. Corporations breach contracts all the time when it makes economic sense. The law supports it - it’s called efficient breach. In my opinion, one should feel no sense of ethical obligation to a corporation that is, by definition, an amoral animal....
by NYC_Guy
Tue Jul 30, 2019 8:33 am
Forum: Personal Consumer Issues
Topic: What's your Uber passenger rating?
Replies: 118
Views: 7456

Re: What's your Uber passenger rating?

You often get a four if you don’t tip. Five if you do. If you need to use the app to tip, tell them before you get out of the car. Other than that, just be nice person and your rating will be fine. And for those of you that will just use a taxi, I can usually get a new uber / lyft car to my place ou...
by NYC_Guy
Wed Jul 03, 2019 9:43 am
Forum: Personal Investments
Topic: Pick one: $135,000 rental property or $110,000 in REITs
Replies: 89
Views: 12133

Re: Pick one: $135,000 rental property or $110,000 in REITs

As others have said, owning real estate is more work (and can be a lot more work) than owning a diversified fund. What do you value your leisure time at on a marginal basis? I value my first lost hour of leisure time at well over $100. For example, I pay nearly $75 per week to have my pool serviced....
by NYC_Guy
Wed Jun 26, 2019 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Two NWM 65 Life "Gifts" from Parents. I'm Lost!
Replies: 32
Views: 4511

Re: Two NWM 65 Life "Gifts" from Parents. I'm Lost!

Keep #1 as you have now entered a sweet spot - I’d use it as an emergency fund. Dump #2 asap.
by NYC_Guy
Tue Jun 18, 2019 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Maternity and Paternity leave policies
Replies: 56
Views: 3796

Re: Maternity and Paternity leave policies

I give 12 weeks paid maternity (plus another 4 weeks annual vacation). So about 4 months.

Also give 6 weeks paid paternity (plus another 4 weeks annual vacation). So about 2.5 months.
by NYC_Guy
Thu May 16, 2019 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: How do I value wife's pension?
Replies: 23
Views: 1986

Re: How do I value wife's pension?

I’d suggest that any attempt to value it as anything other than what it is (an income stream) will require so many dubious assumptions that the result will be effectively useless. Then how do people ever make these decisions? For example, delaying SS to FRA or 70. Or accepting or rejecting a pensio...
by NYC_Guy
Thu May 16, 2019 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: How do I value wife's pension?
Replies: 23
Views: 1986

Re: How do I value wife's pension?

So how to treat it as a currently invested/banked equivalent present amount in a way that makes sense? ...basically so I can consider it in conjunciton w my rollover IRA and 401k to see big picture better. My wife will have a pension when she retires in January. I do not consider it a part of my in...
by NYC_Guy
Thu May 16, 2019 1:04 pm
Forum: Personal Investments
Topic: Whole life policy after 19yrs
Replies: 11
Views: 884

Re: Whole life policy after 19yrs

Buying a new WL policy is almost always a poor choice (and is almost always a bad “investment”). But once you have gotten through the first 10+ years, it often makes sense to keep the policy. If the annual increases in cash value less premium payments are greater than the after-tax yield on an inves...
by NYC_Guy
Sat May 04, 2019 11:19 pm
Forum: Personal Consumer Issues
Topic: Rarely used items that are worth having?
Replies: 112
Views: 13144

Re: Rarely used items that are worth having?

No doubt, a full size, dry powder fire extinguisher. Having never needed to use one, what size fire would be one be able to tackle with a household size fire extinguisher? Given my lack of experience in fighting fires, I'm probably better off picking up a phone and calling the fire company before t...
by NYC_Guy
Sat May 04, 2019 11:09 pm
Forum: Personal Finance (Not Investing)
Topic: Jumbo vs Super Conforming Mortgage
Replies: 4
Views: 881

Re: Jumbo vs Super Conforming Mortgage

No catch (usually). Some Megabanks (not all) are using jumbos (and liability management, generally) as loss leaders - or break even leaders - to secure relationships with higher net worth professionals.
by NYC_Guy
Sat May 04, 2019 5:27 pm
Forum: Personal Consumer Issues
Topic: Saving passwords on iCloud
Replies: 21
Views: 2468

Re: Saving passwords on iCloud

If it’s password protected with a distinct password unrelated to other passwords you have ever used, then, as far as real world threats go, this is safe.
by NYC_Guy
Fri May 03, 2019 6:59 pm
Forum: Personal Consumer Issues
Topic: Rarely used items that are worth having?
Replies: 112
Views: 13144

Re: Rarely used items that are worth having?

Assuming we are talking about sub $1000...

No doubt, a full size, dry powder fire extinguisher. That’s actually got a charge. A 20 ga shotgun is a close second.
by NYC_Guy
Thu May 02, 2019 10:43 pm
Forum: Personal Consumer Issues
Topic: I have a buddy in Australia he says he pays for each email. I never heard of this. Is this true?
Replies: 17
Views: 3612

Re: I have a buddy in Australia he says he pays for each email. I never heard of this. Is this true?

Email is data. Email with pictures can be a lot of data. If he’s on a metered connection (eg, satellite), then, yes, each email that he uploads or downloads may increase his bill.
by NYC_Guy
Thu May 02, 2019 10:14 pm
Forum: Investing - Theory, News & General
Topic: Three things you should never do with your investments
Replies: 13
Views: 2732

Re: Three things you should never do with your investments

I would add two things to Taylor's list to make it an even ten. 9. Never mix investing with insurance/annuities. Only buy term life insurance and fixed immediate or fixed deferred annuities. 10. Never buy (whole, variable, universal, variable universal, fixed index, etc...) life insurance. Never bu...
by NYC_Guy
Thu May 02, 2019 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking of home buying with all cash - need guidance
Replies: 19
Views: 2375

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 ...
by NYC_Guy
Wed May 01, 2019 2:59 pm
Forum: Investing - Theory, News & General
Topic: Why is VTI down & VTSAX up?
Replies: 13
Views: 880

Re: Why is VTI down & VTSAX up?

You will get the fund’s per share net asset value as of 4 pm today. And that is a composite of the final prices of all underlying securities held in the fund. In other words, mutual fund trades (buy or sell) are based on final closing prices.
by NYC_Guy
Wed May 01, 2019 2:54 pm
Forum: Investing - Theory, News & General
Topic: Why is VTI down & VTSAX up?
Replies: 13
Views: 880

Re: Why is VTI down & VTSAX up?

Mutual funds update once a day after market closes. ETFs show real time trading.
by NYC_Guy
Tue Apr 30, 2019 3:31 pm
Forum: Personal Consumer Issues
Topic: Another Advantage of Being a Boglehead
Replies: 27
Views: 2381

Re: Another Advantage of Being a Boglehead

I sometimes wonder why people think that a Boglehead must also be a person who, for example, drives a 17 year old car or otherwise lives a life of self-abnegation. A Boglehead is someone who uses low cost, diversified, tax-efficient passive index funds in lieu of actively managed, high cost strategi...
by NYC_Guy
Fri Apr 26, 2019 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage points......they're all wrong???
Replies: 10
Views: 2177

Re: Mortgage points......they're all wrong???

In the jumbo mortgage space, particularly interest only, rate adjustable products (IO 5/1,7/1,10/1), I have seen breakeven times of under three years, excluding time value of money. My rule of thumb is a four year breakeven. That, for me, is a good, real world simplification that takes into account ...
by NYC_Guy
Tue Apr 23, 2019 10:03 pm
Forum: Personal Investments
Topic: New Three Fund Portfolio options for Fidelity Personal Retirement Annuities
Replies: 12
Views: 1586

Re: New Three Fund Portfolio options for Fidelity Personal Retirement Annuities

I’m seriously considering moving a big chunk of my fixed income portfolio into a Fidelity PRA. As I understand it, a $1 million contract invested in Fidelity VIP Bond Index would have an annual expense of 0.24% (the contract fee of 10 basis points and the fund fee of 14 basis points). A few question...
by NYC_Guy
Thu Apr 18, 2019 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life policy advice
Replies: 12
Views: 1144

Re: Whole Life policy advice

Cash them out simply because they are so small and not worth the nuisance. If the policies had a death benefit over, say, $250k, I would suggest carefully reviewing the current growth in cash value. But these are too small to be worth the trouble.
by NYC_Guy
Tue Feb 19, 2019 11:15 am
Forum: Investing - Theory, News & General
Topic: Trying to hit Robert T's factor targets in a three fund portfolio
Replies: 19
Views: 1996

Re: Trying to hit Robert T's factor targets in a three fund portfolio

I will be interested to see constructive responses. Boglehead philosophy, as I understand it, is about low cost, objective/passive, stick-to-it investing. Using diversification as an ally. Taylor’s three fund portfolio is but one means to achieve that. Factor investing can be consistent with the phi...
by NYC_Guy
Thu Feb 14, 2019 10:17 pm
Forum: Personal Finance (Not Investing)
Topic: Best place to hold 6 month emergency fund?
Replies: 8
Views: 1168

Re: Best place to hold 6 month emergency fund?

I bonds for most of it.
by NYC_Guy
Mon Jan 28, 2019 11:14 pm
Forum: Personal Investments
Topic: Paying for niece/nephew tuition and AOTC
Replies: 2
Views: 481

Re: Paying for niece/nephew tuition and AOTC

You should make it a loan, not a gift. Paper it properly (a short form note is fine). Interest should be set at the AFR and it should be paid (annually is fine). If you choose to gift him a few thousand dollars in a few years to pay off the loan, that’s fine, too. A gift in the first two years will ...
by NYC_Guy
Sat Jan 19, 2019 10:34 pm
Forum: Personal Consumer Issues
Topic: What is a Boglehead funeral/burial?
Replies: 153
Views: 9543

Re: What is a Boglehead funeral/burial?

dm200 wrote:
Sat Jan 19, 2019 1:23 pm
How might we apply the "Boglehead" philosophy to our funeral and burial plans/expenses?
Boglehead philosophy, in part, is to live below your means. We all have different means. So what, exactly, is your question?
by NYC_Guy
Thu Jan 10, 2019 10:51 pm
Forum: Personal Investments
Topic: American Funds (No Loads) vs Vanguard Index Funds
Replies: 30
Views: 2805

Re: American Funds (No Loads) vs Vanguard Index Funds

You are paying nearly 2% in fees. Say your expected annual return over the next ten years is 8%. You’re surrendering 25% of your return to your advisor. I would suggest that the likelihood that those particular funds outperform an index fund portfolio over the next 10 years, adjusted for that (illus...
by NYC_Guy
Wed Jan 09, 2019 10:16 pm
Forum: Personal Investments
Topic: 65 Whole life policy advice-help!
Replies: 15
Views: 1485

Re: 65 Whole life policy advice-help!

Get out now.

I’m more a fan of whole life (funded to MEC limits for seven years) than most on this board, but this is a horrible policy for you. And you are very early in the policy life. Let it lapse.
by NYC_Guy
Mon Jan 07, 2019 11:15 pm
Forum: Personal Consumer Issues
Topic: Balsam Hill - Defective Christmas Tree
Replies: 66
Views: 3201

Re: Balsam Hill - Defective Christmas Tree

I have ordered from this company. Why would you ever think that FedEx does inside delivery? I don’t see the issue. And I’ve replaced fuses/lights on the tree. Par for the course.
by NYC_Guy
Sat Jan 05, 2019 8:28 am
Forum: Personal Consumer Issues
Topic: Paying (paper) cash for daily transactions
Replies: 83
Views: 4265

Re: Paying (paper) cash for daily transactions

You probably haven't noticed that folks wave a card or a phone towards cashiers now and don't have to sign anything and don't need to print a receipt either. Faster than cash. I'm not even sure that Millennials even know what paper money actually is anymore. Most Millennials I know live in a cash e...
by NYC_Guy
Sat Jan 05, 2019 7:32 am
Forum: Personal Investments
Topic: Is the 3 fund asset allocation my best option?
Replies: 42
Views: 2472

Re: Is the 3 fund asset allocation my best option?

I was 100% equity, with a large small cap value tilt, until my mid-30s. I currently have advised my children (in their 20s) to be 100% equities, with a large tilt to small cap value. I’ve even considered advising them to use a moderate amout of leverage, but ultimately decided against such advice. A...
by NYC_Guy
Sat Jan 05, 2019 5:33 am
Forum: Personal Consumer Issues
Topic: Paying (paper) cash for daily transactions
Replies: 83
Views: 4265

Re: Paying (paper) cash for daily transactions

I don't consume much, so my experience is not typical. Cash is pretty convenient for my everyday uses. I generally use the self-checkout machines at my favorite grocery stores. I recently found out that those machines will accept and give change for $100 bills. They had previously noted taking up t...
by NYC_Guy
Sat Jan 05, 2019 5:28 am
Forum: Personal Consumer Issues
Topic: Paying (paper) cash for daily transactions
Replies: 83
Views: 4265

Re: Paying (paper) cash for daily transactions

I wonder if the folks on this forum may skew the results of the OP's question a bit. My guess would be for them to skew results towards cash use and to dine around 5 pm :) I would have guessed the opposite. Dine at 8:30 and use a 2% to 5% cash back card. I don’t even finish up with work most nights...
by NYC_Guy
Fri Jan 04, 2019 10:34 am
Forum: Personal Finance (Not Investing)
Topic: What Do You Spend The Most On Annually?
Replies: 153
Views: 9570

Re: What Do You Spend The Most On Annually?

I estimate that over 60% of my gross income, in total, goes to income taxes, payroll taxes, NYC business tax, sales tax and property tax. Every other normal category of expense is an order of magnitude (or more) less than my tax expense. I own my properties without mortgage, so no mortgage interest,...
by NYC_Guy
Thu Jan 03, 2019 9:52 pm
Forum: Investing - Theory, News & General
Topic: 10yr treasury < Fed Funds rate
Replies: 6
Views: 1203

Re: 10yr treasury < Fed Funds rate

Not by itself. Inverted yield curves are more a predictor of a coming recession. A credit crunch requires a series of (mis) steps by a central bank.
by NYC_Guy
Thu Jan 03, 2019 9:41 pm
Forum: Personal Investments
Topic: FSTVX or FZROX
Replies: 21
Views: 4162

Re: FSTVX or FZROX

At 1.5 basis points of expense, I would use FSKAX (the successor to FSTVX). Probably doesn’t matter, though, in a tax-advantaged account (where you don’t care about tax efficiency of the fund).
by NYC_Guy
Wed Jan 02, 2019 9:02 pm
Forum: Personal Investments
Topic: CPA suggesting I don't contribute max to 401k this year?
Replies: 38
Views: 5584

Re: CPA suggesting I don't contribute max to 401k this year?

My advice is to make the employee-side $19000 contribution, probably as a Roth. But not to make the employer side contribution, given a 90% equity AA. Just hold super tax efficient ETFs (Blackrock, Vanguard) or mutual funds (Vanguard). My preference for taxable accounts is ETFs, but anything that i...
by NYC_Guy
Wed Jan 02, 2019 8:53 pm
Forum: Personal Investments
Topic: CPA suggesting I don't contribute max to 401k this year?
Replies: 38
Views: 5584

Re: CPA suggesting I don't contribute max to 401k this year?

Not sure if you are single or MFJ It seems like there is still a slight advantage to doing the employer match. If you do the match, you are getting a tax benefit of 19.2%. The question isn't necessarily if your retirement rate will be higher or lower, but how will your retirement rate compare to th...
by NYC_Guy
Wed Jan 02, 2019 7:10 pm
Forum: Personal Investments
Topic: CPA suggesting I don't contribute max to 401k this year?
Replies: 38
Views: 5584

Re: CPA suggesting I don't contribute max to 401k this year?

My advice is to make the employee-side $19000 contribution, probably as a Roth. But not to make the employer side contribution, given a 90% equity AA. Just hold super tax efficient ETFs (Blackrock, Vanguard) or mutual funds (Vanguard). My preference for taxable accounts is ETFs, but anything that is...
by NYC_Guy
Wed Jan 02, 2019 5:40 pm
Forum: Personal Investments
Topic: CPA suggesting I don't contribute max to 401k this year?
Replies: 38
Views: 5584

Re: CPA suggesting I don't contribute max to 401k this year?

If your tax rates are likely higher in retirement, add a Roth option to your self-emp 401k and utilize that option for your employee component. The employer component is a more difficult call and also depends on whether your AA is very tax efficient (all or mostly equities).
by NYC_Guy
Sun Dec 30, 2018 1:21 am
Forum: Personal Consumer Issues
Topic: Must sees in Kauai.
Replies: 39
Views: 2729

Re: Must sees in Kauai.

The Na Pali coast - hiking to the Hanakapi’ai falls is a must. Some believe it’s the most beautiful, generally accessable hike in the U.S. I concur.