Search found 223 matches

by NYC_Guy
Wed May 16, 2018 7:43 pm
Forum: Investing - Theory, News & General
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 550
Views: 36900

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

My marginal rate, while working, is > 50%. Moving out of NYC and NYS (to my house in Pennsylvania) in retirement will lower my marginal rate by ~13% w/r/t withdrawals from my TIRA and Trad401k. I also expect my Federal rate to be lower. But none of us has a crystal ball. If I was not at the top Fede...
by NYC_Guy
Mon Apr 30, 2018 4:50 pm
Forum: Investing - Help with Personal Investments
Topic: Non-recourse loan to exercise options? What are the downsides?
Replies: 9
Views: 852

Re: Non-recourse loan to exercise options? What are the downsides?

A non-recourse loan still includes a promise to repay it. If you don't repay it, (a) you are acting in poor faith, violating your word (your promise to repay it), and (b) your credit report will show the loan as defaulted, which presumably has severe credit consequences. Non-recourse means "we can'...
by NYC_Guy
Tue Apr 24, 2018 3:40 pm
Forum: Investing - Help with Personal Investments
Topic: What happens when you speak in TICKER language.
Replies: 139
Views: 13078

Re: A Rant about Ticker Speak

As usual, common sense should apply. I would have no problem using VTI or SPY or AGG in a post...I think those abbreviations are useful shortcuts for most contributors to, and frequent readers of, this forum. If we have a newcomer for whom these tickers are confusing, the wiki is available and learn...
by NYC_Guy
Tue Apr 17, 2018 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Paying Wife in S-corp 401k max without Take-home
Replies: 15
Views: 1618

Re: Paying Wife in S-corp 401k max without Take-home

Yes, profit sharing is a completely separate matter. What I do for profit sharing is calculate a year end bonus that increases total salary for the year to maximize the 25% allowable profit sharing and reduce company profit to zero. Ignoring the 20% deduction on pass-through, does the bonus not inc...
by NYC_Guy
Mon Apr 16, 2018 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: Paying Wife in S-corp 401k max without Take-home
Replies: 15
Views: 1618

Re: Paying Wife in S-corp 401k max without Take-home

Assuming you also want to do the 25% profit share contribution, the ideal number is $24,667, but you will pay a bit more in FICA. This amount also has to be reasonable in relation to the work performed by her.
by NYC_Guy
Fri Apr 13, 2018 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Help me decide what to do with my 30 year old NML whole life policies
Replies: 15
Views: 1344

Re: Help me decide what to do with my 30 year old NML whole life policies

I was sold two NML Whole Life Policies at a young age. I had no idea what I was buying. I was financially naive but have paid the premiums faithfully. The first was in 1985 when I was 26 years old at a face value of $100,000. The second was bought in 1991 with a value of $150,000. I am now 59 years...
by NYC_Guy
Tue Mar 06, 2018 8:36 am
Forum: Investing - Help with Personal Investments
Topic: 14yr old son wants to invest
Replies: 20
Views: 1637

Re: 14yr old son wants to invest

BogleMelon wrote:
Tue Mar 06, 2018 8:34 am
The only advice I know in this situation is that he can not legally invest at that age. He has to be 18 yrs at least.
This is not true. Why would you think that? The account may need to have guardian, but he can have an account...
by NYC_Guy
Sat Mar 03, 2018 11:10 pm
Forum: Investing - Help with Personal Investments
Topic: Best way to short the equity market
Replies: 93
Views: 5648

Re: Best way to short the equity market

Buy long-dated deep out-of-the money puts on SPY.

Best of luck to you.
by NYC_Guy
Sat Feb 24, 2018 8:41 pm
Forum: Investing - Help with Personal Investments
Topic: Should I bite the bullet and invest in this market?
Replies: 86
Views: 10012

Re: Should I bite the bullet and invest in this market?

My suggestions to a new investor — today — is to double your fixed income / cash allocation and slowly reallocate to your desired equity percentage over the next two to three years. Do you mean, if ones "real" desired allocation is 80/20 stocks/bonds, you advise them to start at 60/40 and DCA from ...
by NYC_Guy
Sat Feb 24, 2018 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Just had our offer accepted on a $1.4 Million House
Replies: 90
Views: 9885

Re: Just had our offer accepted on a $1.4 Million House

He wasn’t asking whether to buy or rent. He’s already under contract. On the question asked, I’d go wih the 10% down option. I would, however, also check out long-dated ARMs (7/1 or 10/1). I think the likelihood you own the house in 7 or 10 years is very low (given the facts you provided).
by NYC_Guy
Fri Feb 23, 2018 11:27 pm
Forum: Investing - Help with Personal Investments
Topic: Should I bite the bullet and invest in this market?
Replies: 86
Views: 10012

Re: Should I bite the bullet and invest in this market?

Current P/E ratios scare me, too. The correct answer is to set your AA and then invest ASAP. But emotion matters. We are all human. My suggestions to a new investor — today — is to double your fixed income / cash allocation and slowly reallocate to your desired equity percentage over the next two to...
by NYC_Guy
Tue Feb 20, 2018 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: Giving up on first home
Replies: 43
Views: 4785

Re: Giving up on first home

It’s called buyer’s remorse. You’ll get over it.
by NYC_Guy
Thu Feb 15, 2018 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Number at which to stop worrying
Replies: 169
Views: 18945

Re: Number at which to stop worrying

I’ll give you an honest answer — $15 million. That leaves me with $10 million to buy TIPS to cover $250k per year (infl adj) for the next 40 years. And $5 million to aggressively grow for my kids and grandkids. But I’ll probably quit before I hit that number. Maybe.
by NYC_Guy
Wed Feb 07, 2018 10:14 pm
Forum: Personal Consumer Issues
Topic: What time do you go to work?
Replies: 72
Views: 5934

Re: What time do you go to work?

I usually get in about 9:30 am. But I pretty much am engaged 18 hours a day / 7 days a week. Owning your own business has its ups and downs.
by NYC_Guy
Wed Feb 07, 2018 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: Dad gave me money before filing bankruptcy
Replies: 24
Views: 4612

Re: Dad gave me money before filing bankruptcy

Lots of bad advice in here. Yes, the bankruptcy code has a preference period. Yes, it’s one year for insiders/relatives. But the real issue for you will be the doctrine of fraudulent conveyance/transfer and various statute of limitations issues. Those are state law matters. You need a lawyer.
by NYC_Guy
Tue Feb 06, 2018 1:48 pm
Forum: Investing - Help with Personal Investments
Topic: Where would you tell a 12 year old to park his money
Replies: 32
Views: 2136

Re: Where would you tell a 12 year old to park his money

My son is 12 and has 1500 to invest (years of savings allowance and holiday money). He opened an etrade account years ago (in my name) and has some shares of Apple, iRobot and ShakeShack. He is ready to move onto index funds -- I just opened an account for him at Vanguard. Where would you suggest a...
by NYC_Guy
Wed Jan 31, 2018 9:46 pm
Forum: Investing - Help with Personal Investments
Topic: I have an overwhelming gift I'm in need of help of please.
Replies: 89
Views: 8775

Re: I have an overwhelming gift I'm in need of help of please.

I'd pay off your house with it and put the rest in an emergency fund. Hope this helps, Peter I love this suggestion! This very well may be the best advice. But I would suggest taking Taylor’s advice. Park it in a bank or short term CD and breathe. But you’ve come to the right place. Congrats.
by NYC_Guy
Wed Jan 31, 2018 6:58 pm
Forum: Investing - Help with Personal Investments
Topic: Why do many bogleheads feel they can time the housing market but can't time the stock market?
Replies: 63
Views: 5301

Re: Why do many bogleheads feel they can time the housing market but can't time the stock market?

I don’t think many (any?) of us try to time the market, at least going in. But I probably wouldn’t try to sell property in the middle of a significant recession, just as I wouldn’t sell equities following a significant decline in equity valuations.
by NYC_Guy
Mon Jan 29, 2018 3:06 pm
Forum: Investing - Theory, News & General
Topic: Sense of security with ETF's?
Replies: 10
Views: 1137

Re: Sense of security with ETF's?

There are many good reasons to use an ETF. This isn’t one of them.
by NYC_Guy
Sun Jan 28, 2018 6:45 pm
Forum: Personal Finance (Not Investing)
Topic: Accountant Recommends doing Whole Life Insurance
Replies: 64
Views: 5774

Re: Accountant Recommends doing Whole Life Insurance

A very low cost variable annuity may make sense if an investor: - has a high marginal tax rate, particularly one that will likely decrease in retirement, - has determined that REITs or High Yield bonds are a necessary part of his/her portfolio, and - does not have sufficient room for those REIT or h...
by NYC_Guy
Sun Jan 28, 2018 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: Looking for Very High Travel Accident Insurance
Replies: 13
Views: 1121

Re: Looking for Very High Travel Accident Insurance

You want to buy an accidental death and dismemberment (AD&D) policy. It’s a form of term insurance. Just do a google search for those terms.
by NYC_Guy
Sat Jan 27, 2018 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 111
Views: 9824

Re: Quit jobs to gain lower EFC [Expected Family Contribution]

My sister-in-law had/has three kids going to U Penn, Amherst and Northwestern. Roughly $65k per year x 12 years for full cost (less per year 5 years ago, more when the last is done in a few years). She and her husband were each making about $85k. I advised her, based on PSAT test scores and grades ...
by NYC_Guy
Fri Jan 26, 2018 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 111
Views: 9824

Re: Quit jobs to gain lower EFC [Expected Family Contribution]

My sister-in-law had/has three kids going to U Penn, Amherst and Northwestern. Roughly $65k per year x 12 years for full cost (less per year 5 years ago, more when the last is done in a few years). She and her husband were each making about $85k. I advised her, based on PSAT test scores and grades a...
by NYC_Guy
Thu Jan 25, 2018 11:01 pm
Forum: Personal Consumer Issues
Topic: April in Paris - Your favorites or suggestions?
Replies: 48
Views: 2462

Re: April in Paris - Your favorites or suggestions?

If you’ve got 10 days...

Picasso Museum
Victor Hugo’s Apartment and Place des Vosges
Parc Monceau
Camondo Museum
Jacquemart-Andre Museum
A concert or opera at Garnier
A day trip to Giverny
Go to the Louvre at night on Wed and stay until they kick you out

And don’t do too much on any day.
by NYC_Guy
Thu Jan 25, 2018 10:44 pm
Forum: Personal Finance (Not Investing)
Topic: Accountant Recommends doing Whole Life Insurance
Replies: 64
Views: 5774

Re: Accountant Recommends doing Whole Life Insurance

My accountant recommended me open whole life insurance to save on taxes, this is an advisable strategy? Everything on Bogleheads suggests it's not... Any insight or advice on why he might of recommended it would be helpful. Currently 28, Single, California, 750K 2017 Income (W2/K1). Unfortunately, ...
by NYC_Guy
Thu Jan 25, 2018 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Accountant Recommends doing Whole Life Insurance
Replies: 64
Views: 5774

Re: Accountant Recommends doing Whole Life Insurance

Beware of Whole Life salesmen. Horrible horrible horrible products. There is NO reason to buy Whole life. The only people that suggest these horrible products are the people that sell them (and make their boat payment) and those that failed elementary math. For 99.9% of the population, I agree. For...
by NYC_Guy
Thu Jan 25, 2018 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Accountant Recommends doing Whole Life Insurance
Replies: 64
Views: 5774

Re: Accountant Recommends doing Whole Life Insurance

Maybe. A lot of ifs. If you expect your income to continue to increase and if you know you will have an estate subject to federal estate tax and if you want to leave that estate to future heirs, it may make sense if properly constructed. But the local NWM guy probably won’t know how to design it for...
by NYC_Guy
Wed Jan 24, 2018 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Time to get out of my $1 million Whole Life Policy?
Replies: 22
Views: 1751

Re: Time to get out of my $1 million Whole Life Policy?

Probably, but what you really need to do is understand when/how the surrender charges fall away. It may make more sense to wait if the surrender fee will abate in the near future.
by NYC_Guy
Sat Jan 20, 2018 9:40 am
Forum: Investing - Help with Personal Investments
Topic: Why hold bond funds in tax advantaged accounts?
Replies: 16
Views: 2183

Re: Why hold bond funds in tax advantaged accounts?

And taxes affect the long-term value of the portfolio. If Fund A costs an extra 1% per year in taxes compared with Fund B, then holding Fund A in taxable and Fund B in an IRA will give you 26% less in your taxable account 30 years compared to holding Fund B in taxable and Fund A in an IRA. Your two...
by NYC_Guy
Thu Jan 18, 2018 11:04 am
Forum: Personal Consumer Issues
Topic: 4k UHD TVs worth it?
Replies: 66
Views: 5687

Re: 4k UHD TVs worth it?

Maybe worth it if you stream 4k contact and have a big screen. I wouldn’t rush to upgrade a 49” screen, though. You really should wait for OLED to come down in price. OLED is much more of an upgrade than 4k (at the moment).
by NYC_Guy
Wed Jan 17, 2018 9:27 am
Forum: Investing - Help with Personal Investments
Topic: I am 23 years old and I just transferred my PepsiCo stock from Edward Jones to Vanguard! What's next?
Replies: 27
Views: 2298

Re: I am 23 years old and I just transferred my PepsiCo stock from Edward Jones to Vanguard! What's next?

Once I start my career in the end of 2019 or beginning of 2020, i was thinking of selling my VASGX too right before I get put into a higher tax bracket from working. Is this smart? I want to make sure I do this the right way. I think you're letting the tax tail wag the dog. The number one priority ...
by NYC_Guy
Fri Jan 12, 2018 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Our 'cure' for emergency expenses
Replies: 96
Views: 11663

Re: Our 'cure' for emergency expenses

I do my budget monthly and my actual expenses track pretty closely. I don't keep an emergency fund. TravelforFun Just curious, how do you fund actual big surprises? Such as replacing HVAC equipment (>$5000) or removing a large dead tree (>$3000). I can see how renters can avoid saving for major cap...
by NYC_Guy
Thu Jan 11, 2018 11:55 pm
Forum: Investing - Theory, News & General
Topic: Using 1% of portfolio to buy VIX (Volatility Index) as Hedge...
Replies: 5
Views: 975

Re: Using 1% of portfolio to buy VIX (Volatility Index) as Hedge...

It's not possible to buy VIX. If you could, I would use more than 1%, that's for sure. Also leverage. There are VIX futures, which suffer from very heavy contango. Just for reference, the iPath S&P 500 VIX Short-Term Futures ETN (VXX), the largest long VIX-related product in the segment, has return...
by NYC_Guy
Thu Jan 11, 2018 10:58 pm
Forum: Personal Consumer Issues
Topic: Keeping sensitive documents in the cloud -- bad idea?
Replies: 46
Views: 3314

Re: Keeping sensitive documents in the cloud -- bad idea?

I have all of my sensitive info on the cloud. My time is too valuable to mess with local backups. I worry more about heart attacks and auto accidents and zombies apocalypses.
by NYC_Guy
Wed Jan 10, 2018 10:55 pm
Forum: Investing - Help with Personal Investments
Topic: WSJ: Discount Brokers Win Bonuses to Push Costlier Products
Replies: 38
Views: 3608

Re: WSJ: Discount Brokers Win Bonuses to Push Costlier Products

Even Vanguard is not completely innocent. It appears that Vanguard has been promoting Vanguard PAS especially for their Flagship customers. Their CFPs have also highly recommended international bond funds and international stock funds even though some of their customers previously indicated that th...
by NYC_Guy
Wed Jan 10, 2018 11:46 am
Forum: Investing - Help with Personal Investments
Topic: 25 Year Old Retiring Extremely Early-Domestic Wellesley or Half Global, Half Domestic Wellesley Better for my Bonds?
Replies: 55
Views: 7602

Re: 25 Year Old Retiring Extremely Early

Good for you! Ignore others that say you will be a different person in five years. You may be, but you’re asking us about the financial aspects of this. Here are my thoughts: 1) Don’t quit until you have at least 10 years of social security credit. I also would suggest that you not FIRE until you ar...
by NYC_Guy
Sat Jan 06, 2018 11:07 pm
Forum: Personal Consumer Issues
Topic: To take or not to take delivery of Tesla 3
Replies: 1326
Views: 106573

Re: To take or not to take delivery of Tesla 3

I haven't sat behind the wheel of one or anything, but I *really* do not like the vibe of basically a single oversized iPad like thing for most/all of the cabin controls and information, including, apparently, the speed. I like *DEDICATED* displays of information, with the most important informatio...
by NYC_Guy
Thu Jan 04, 2018 12:44 pm
Forum: Investing - Help with Personal Investments
Topic: tax efficiency Fidelity funds
Replies: 10
Views: 1601

Re: tax efficiency Fidelity funds

Fidelity (iShares) ETF users, do you supplement your ITOT holdings with IXUS (total international) in your taxable accounts? As far as tax deferred accounts, is FSITX a good enough bond fund to make up my bond holdings? I'm currently aiming for a 90/10 stock/bond allocation, so from my understandin...
by NYC_Guy
Fri Dec 29, 2017 9:26 am
Forum: Personal Finance (Not Investing)
Topic: What are your alternate investments outside of securities/funds and real estate?
Replies: 3
Views: 321

Re: What are your alternate investments outside of securities/funds and real estate?

I had posted this question back in the day https://www.bogleheads.org/forum/viewtopic.php?t=212912. looks like EOY is when i have time to do some thinking :) In the last year, my investments have all been maxed out with retirement accounts, roths, after-tax, etc. Other than my house, all of my inve...
by NYC_Guy
Fri Dec 29, 2017 9:19 am
Forum: Personal Finance (Not Investing)
Topic: How to financially assist DD to help continue her Obamacare
Replies: 54
Views: 4386

Re: How to financially assist DD to help continue her Obamacare

OP here again This discussion had helped me clarify that DD needs ACA with the subsidies. I considered the Native American cost sharing reductions to be part of ACA, but they appear to be part of the subsidies. The cost sharing reductions are no copay and no deductibles, a tremendous savings, espec...
by NYC_Guy
Fri Dec 29, 2017 8:51 am
Forum: Personal Finance (Not Investing)
Topic: CNBC quotes IRS on terms of deductibility of prepaid property taxes
Replies: 79
Views: 6344

Re: CNBC quotes IRS on terms of deductibility of prepaid property taxes

So, you pre-pay your real estate taxes and claim them and the IRS rules against you. You have just commit fraud against the US Government. You are now liable for fines, penalties, interest charges, repayment of refund, and payment of extra taxes on the taxable income. Plus, it is my experience the ...
by NYC_Guy
Fri Dec 29, 2017 12:31 am
Forum: Investing - Theory, News & General
Topic: How to setup a crypto-currency "index fund" (Bitcoin, etc.)
Replies: 77
Views: 7247

Re: The right way to speculate in crypto-currency (Bitcoin, etc.)

There are lots of post of "play money" on this forum, so it's not really that different from some of the discussions we've had here. AndroAsc: You are right -- but I can think of better ways to spend "play money" -- even for those who can afford it. Happy Holiday! Taylor You may be right (and I sus...
by NYC_Guy
Sun Dec 24, 2017 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Will you donate less to Charity?
Replies: 109
Views: 8620

Re: Will you donate less to Charity?

With the repeal of the Pease limitation, my charitable donations just got more valuable. And they are more valuable to me next year. So my 2017 annual charity checks are going out in 2018 (instead of next week). That's not how the Pease limitation works. It's a 1% to 1.2% surtax on income disguised...
by NYC_Guy
Sat Dec 23, 2017 11:10 pm
Forum: Personal Consumer Issues
Topic: Internet speeds
Replies: 37
Views: 2859

Re: Internet speeds

Nate79 wrote:
Sat Dec 23, 2017 8:28 pm
Very high speed internet is extremely over hyped and unneeded product for the normal person.
There are four people in my house that routinely stream HD, sometimes in 4k...I think I’m probably the norm. My peak demands are probably ~50Mbps. I think my household is pretty normal (in this regard).
by NYC_Guy
Sat Dec 23, 2017 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: Will you donate less to Charity?
Replies: 109
Views: 8620

Re: Will you donate less to Charity?

With the repeal of the Pease limitation, my charitable donations just got more valuable. And they are more valuable to me next year. So my 2017 annual charity checks are going out in 2018 (instead of next week).
by NYC_Guy
Wed Dec 20, 2017 11:21 pm
Forum: Personal Consumer Issues
Topic: Toys R Us online order warning
Replies: 23
Views: 2737

Re: Toys R Us online order warning

toofache32 wrote:
Wed Dec 20, 2017 11:06 pm
bob60014 wrote:
Wed Dec 20, 2017 9:56 pm
Not a surprise. You are aware they are in BK?
Burger King? Big Kahuna?? British Kolumbia?
Pretty obvious BK = Bankruptcy... Were you actually confused?