Search found 247 matches

by NYC_Guy
Sat Dec 15, 2018 1:25 am
Forum: Personal Finance (Not Investing)
Topic: What are your property taxes?
Replies: 365
Views: 20892

Re: What are your property taxes?

I’m paying about $55,000 in property tax per year in NY on a $2 mm appraised property. The SALT limitation has hit my community hard, which has impacted sale price. I’m in the process of getting my home revalued (mostly due to SAlT limitation).
by NYC_Guy
Wed Dec 05, 2018 10:59 pm
Forum: Investing - Theory, News & General
Topic: Anybody Miss the Crypto Rage on BH Forums
Replies: 96
Views: 6957

Re: Anybody Miss the Crypto Rage on BH Forums

I have a serious investment in wine. It’s quite a liquid asset. Unfortunately, my investment manager eats (err...drinks) away at my returns. In all seriousness, my wine purchases of left bank bordeaux in the 1990s would have returned over a 6x return (over 10x in some cases). And it would have been ...
by NYC_Guy
Tue Nov 27, 2018 11:24 pm
Forum: Personal Consumer Issues
Topic: Electricity bill should be 7% per month of home sq footage.
Replies: 66
Views: 3908

Re: Electricity bill should be 7% per month of home sq footage.

I pay nearly $0.30 per kwh. 7% of sqf is a dream.
by NYC_Guy
Tue Nov 27, 2018 10:31 pm
Forum: Personal Consumer Issues
Topic: So that's why 2-day shipping isn't what I expected!
Replies: 41
Views: 4954

Re: So that's why 2-day shipping isn't what I expected!

Most of my free two-day shipments arrive in one day. Prime is awesome.
by NYC_Guy
Tue Nov 20, 2018 4:51 pm
Forum: Investing - Help with Personal Investments
Topic: Amazon TLH Apple
Replies: 5
Views: 468

Re: Amazon TLH Apple

50% Netflix and 50% Google.
by NYC_Guy
Fri Nov 16, 2018 3:31 pm
Forum: Investing - Help with Personal Investments
Topic: First grandchild
Replies: 21
Views: 1757

Re: First grandchild

I urge my grandparent friends not to set up 529s directly. The financial aid calculations are generally much more favorable if those accounts are parent-controlled accounts. Have your son/daughter set up the account and then you can make the contribution to that account. If you can’t trust your son/...
by NYC_Guy
Thu Nov 08, 2018 9:24 am
Forum: Personal Consumer Issues
Topic: College graduation gift amount
Replies: 25
Views: 1816

Re: College graduation gift amount

I helped my kids with post-graduation trips before their full-time jobs started (graduation in May, jobs starting in August/September). ~6 week around the world, staying in cheap hostels. Budget airlines. If they didn’t have a job secured, I wouldn’t have funded the trips.
by NYC_Guy
Fri Nov 02, 2018 7:37 pm
Forum: Investing - Help with Personal Investments
Topic: My Grandmother has 80% stocks
Replies: 55
Views: 5650

Re: My Grandmother has 80% stocks

Sounds ok to me. My view is that equity allocations - generally - should go up after age ~70. Fewer years to worry about and much of the investment may be for future generations. Everyone’s situation is different, of course.
by NYC_Guy
Fri Oct 12, 2018 8:28 am
Forum: Personal Finance (Not Investing)
Topic: If I retire to a State that has no State taxes...
Replies: 46
Views: 7523

Re: If I retire to a State that has no State taxes...

BTW: Many FT RV folks use income tax free SD since it only requires one overnight per LIFETIME to become a resident (be careful to NOT trigger residency in another state (rules vary by state). It has become a pain, in that you currently have to return to SD to renew your DL every several yrs. I wou...
by NYC_Guy
Mon Oct 01, 2018 12:02 am
Forum: Personal Finance (Not Investing)
Topic: Why is Home Part of NW [Net Worth]
Replies: 98
Views: 6890

Re: Why is Home Part of NW

<< And I'm also *obviously* assuming there is actual "value" there (beyond mortgage, or no mortgage remaining) >> The market value of the house changes. So, between the time that someone counted the value versus when they actually need to sell it, the value may disappear. This was demonstrated clea...
by NYC_Guy
Tue Sep 18, 2018 12:07 pm
Forum: Investing - Theory, News & General
Topic: Equity in house / Do you use it?
Replies: 56
Views: 3609

Re: Equity in house / Do you use it?

Bogleheads do not borrow money to use for investment. Bogleheads buy bonds and other fixed income investments to control (not amplify) risk. Investing with borrowed money is called "leverage". Using leverage amplifies both gains and LOSSES. Unwise use of leverage can turn an otherwise small loss in...
by NYC_Guy
Mon Sep 17, 2018 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: retroactive change to State Retirement plan illegal?
Replies: 17
Views: 2042

Re: retroactive change to State Retirement plan illegal?

This is often a matter of state constitutional law. Some states have constitutional provisions that protect state government pensions (and have state supreme courts that have interpreted those provisions quite broadly). There are no federal protections here (unless the state were discriminating on t...
by NYC_Guy
Tue Sep 11, 2018 10:08 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard ETF to Fidelity ETF
Replies: 9
Views: 843

Re: Vanguard ETF to Fidelity ETF

Gains - Yes
Losses - Might be a wash transaction
by NYC_Guy
Sun Sep 09, 2018 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: My daughter's inheritance.
Replies: 64
Views: 9022

Re: My daughter's inheritance.

A wealth adviser at a bank will probably put her in things she shouldn’t be in. My friend is 64 years old and the bank tried to convince her to purchase whole life insurance. The only place to go where she won’t get taken advantage of is Vanguard Personal Advisory service. They are not getting comm...
by NYC_Guy
Sun Sep 09, 2018 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: My daughter's inheritance.
Replies: 64
Views: 9022

Re: My daughter's inheritance.

Leaving this in cash (a suggestion that this website suggests for windfalls) may be a violation of your fiduciary duties as a trustee (assuming you are a trustee). If you are not a financial expert or financially sophisticated, you should get some professional guidance. I’d suggest a flat fee-based ...
by NYC_Guy
Sun Sep 09, 2018 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: $250,000 family loan to parents?
Replies: 50
Views: 4689

Re: $250,000 family loan to parents?

A gift would eat up some of your federal estate exemption. And it sounds like that may become relevant for you (the exemption will decline substantially in about 7 years). I’d do a simple loan and set interest at the short term AFR. You’ll have a tiny bit of reportable interest. This can be a one or...
by NYC_Guy
Thu Sep 06, 2018 5:01 am
Forum: Investing - Help with Personal Investments
Topic: Psychology of saving for college vs retirement
Replies: 66
Views: 4171

Re: Psychology of saving for college vs retirement

I agree that people are overthinking this. Fill 401k/403b and IRA space first. Roth vs Traditional should be based on your particular facts. After fully filling retirement tax advantaged space, if you have some additional ability to save and project you have expected unfunded future educational expe...
by NYC_Guy
Fri Aug 31, 2018 10:02 pm
Forum: Investing - Theory, News & General
Topic: "Mutual Funds and Securities Lending"
Replies: 32
Views: 1795

Re: "Mutual Funds and Securities Lending"

Bogleheads: Mutualfunds.com has an informative article about little known "Securities Lending" by mutual fund companies. The article helps explain how Fidelity is able to offer two total market index funds with zero expense ratios. Vanguard is mentioned thusly: Mutual fund sponsor Vanguard gives 10...
by NYC_Guy
Thu Aug 30, 2018 11:10 am
Forum: Investing - Help with Personal Investments
Topic: 2018 August - Dollar Cost Averaging vs LumpSum of 420k
Replies: 42
Views: 3169

Re: 2018 August - Dollar Cost Averaging vs LumpSum of 420k

If you wanted to be at >75% equity w.r.t this amount, I would DCA over a two year horizon. If your desired equity / fixed income AA is less than 75% equity, I would lump sum and rebalance quarterly if AA gets out of whack. 75% is somewhat arbitrary, but the idea is to have the ability to jump into (...
by NYC_Guy
Mon Aug 27, 2018 6:35 pm
Forum: Investing - Help with Personal Investments
Topic: Retiring. 28 y.o. $5M in cash. Asking for advice for portfolio.
Replies: 79
Views: 13832

Re: Retiring. 28 y.o. $5M in cash. Asking for advice for portfolio.

Many of the prior posts ignore the OP’s tax situation. Suggestions like VTI and VTSAX may not be the best advice. I also would urge a somewhat higher equity allocation given your age. And then leave it alone. I think you may be a very good candidate for Swedroe’s small cap value approach. Maybe 25% ...
by NYC_Guy
Sun Aug 26, 2018 4:31 am
Forum: Personal Finance (Not Investing)
Topic: How do you calculate net worth with pensions?
Replies: 105
Views: 6818

Re: How do you calculate net worth with pensions?

A pension definitely adds to your net worth. If you don't think so, tell me if someone said they're going to start paying you $5,000/month for the rest of your life, are you wealthier before or after they did this? How to calculate the value? Like @marshall said earlier, it's the same value as an i...
by NYC_Guy
Thu Aug 23, 2018 7:35 am
Forum: Investing - Help with Personal Investments
Topic: Municipal Bond Ladder / Tax Efficient Allocation of New Funds
Replies: 23
Views: 1944

Re: Municipal Bond Ladder / Tax Efficient Allocation of New Funds

The OP is in Virginia. Is your muni ladder just VA munis? If it isn’t, then comparing to a national muni fund (like the Vanguard fund that several posters mention above) isn’t appropriate. You’ll have tax leakage of +/- 15 basis points. Just something to consider.
by NYC_Guy
Tue Aug 21, 2018 9:52 pm
Forum: Investing - Theory, News & General
Topic: (NEW) WisdomTree 90/60 U.S. Balanced Fund
Replies: 172
Views: 12322

Re: (NEW) WisdomTree 90/60 U.S. Balanced Fund

Excellent new addition: https://www.wisdomtree.com/etfs/asset-allocation/ntsx Expense Ratio: 0.2 hdas: Jane Bryant Quinn, syndicated columnist and author of "Smart and Simple Financial Strategies" offers this good advice: "You shouldn't buy anything too complex to explain to the average 12-year old...
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: 39638

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: 972

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: 14950

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: 1777

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: 1777

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: 1455

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: 1731

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: 97
Views: 6984

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: 10672

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: 10336

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: 10672

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: 4971

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: 20469

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: 6540

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: 4773

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: 2263

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: 9057

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: 5611

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: 1244

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: 6258

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: 1199

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: 10377

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: 10377

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...