Search found 723 matches

by djpeteski
Tue Feb 12, 2019 8:38 am
Forum: Personal Consumer Issues
Topic: Seller is an expert, but may be lowballing themself, advice? (Audio added)
Replies: 46
Views: 4069

Re: Seller is an expert, but may be lowballing themself, advice? (Audio added)

So someone comes to you and ask for a suggestion about violins, where are you going to send them? Next time you need to buy something that this guy sells where are you going to go? Perhaps the $800 price also represents a nice profit margin for him. He can make a profit and gain a customer who will ...
by djpeteski
Tue Feb 12, 2019 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Attempting To Be Debt Free
Replies: 56
Views: 4464

Re: Attempting To Be Debt Free

As a fellow divorced father, the advice I would offer is daveramsey.com. It is counter intuitive, and goes against conventional wisdom, but it works. Conventional wisdom ignores the fact that we are emotional and often that emotion short circuits logical decision making. Marketing is designed to tak...
by djpeteski
Mon Feb 11, 2019 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Should/Could I semi-retire now, and question about medical insurance until 65?
Replies: 18
Views: 1332

Re: Should/Could I semi-retire now, and question about medical insurance until 65?

My Vanguard personal advisor has advised me not to quit my job. He wants me to continue to work until at least 62 and not draw SS until full retirement age. If he had his way, he’d have me working until full retirement age and not collecting SS until 70. If he is a paid adviser then he has a vested...
by djpeteski
Fri Feb 08, 2019 3:18 pm
Forum: Personal Investments
Topic: Feedback on Financial Health
Replies: 12
Views: 946

Re: Feedback on Financial Health

The thing that scares me is that you have very little cash for the mortgage risk you have assumed. You have 1.344 mil in mortgages and only 35K? Yikes. If you enjoy owning the rentals I would sell one. The easiest thing to do is sell #1, pay off #2 and invest ~125k. Not you have a really nice cushio...
by djpeteski
Fri Feb 08, 2019 12:39 pm
Forum: Personal Investments
Topic: Lost Job - Paying off Mortgage or Not
Replies: 14
Views: 1645

Re: Lost Job - Paying off Mortgage or Not

If it was me, I would keep about 150K in ally. Maybe do some investing with a similar amount and build somewhat of a short term CD ladder with the rest of your short term cash. No way am I paying off the mortgage. The important part is determine a date certain on when you should either close or cont...
by djpeteski
Thu Feb 07, 2019 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Need Help - DW Laid Off and Company wants her back now
Replies: 107
Views: 10701

Re: Need Help - DW Laid Off and Company wants her back now

DW has now been asked what it would take to come back (or rather stay). DW was recently responsible for bringing in multi million client business. She also has some restricted stock from several years ago when she joined that is still vesting. For the record, I am munching on my popcorn seeing how ...
by djpeteski
Tue Feb 05, 2019 10:42 am
Forum: Personal Consumer Issues
Topic: How exactly are eligible deaths determined for term life insurance
Replies: 27
Views: 1772

Re: How exactly are eligible deaths determined for term life insurance

Obviously, one would want to disclose any dangerous activity or occupation (alaskan crab fishing, seasoned sky diver, etc.) but how meticulous do insurance companies go to try to deny claims? In these cases they would pay. Now if you did not disclose these things on your application they might redu...
by djpeteski
Mon Feb 04, 2019 12:47 pm
Forum: Personal Investments
Topic: What to do with 2 January bonuses?
Replies: 23
Views: 1749

Re: What to do with 2 January bonuses?

It will barely make a dent, but my vote would be toward the second mortgage. I bet clearing that up would change the cash flow situation. If it was me, it would be gone tomorrow, and I would use the bonus to increasing the future home fund that was depleted to pay off the second. However, mega317 is...
by djpeteski
Mon Feb 04, 2019 7:47 am
Forum: Personal Consumer Issues
Topic: The real dog food diet...
Replies: 59
Views: 3736

Re: The real dog food diet...

We just make our dog food. About 2 cups of rice, a can of veg all, 4 chicken backs last about a week. Given that the chicken is about .99/lb it is pretty cheap, he is very happy, and it seems to keep his health in order.
by djpeteski
Fri Feb 01, 2019 1:43 pm
Forum: Personal Investments
Topic: Making a 3.8 million deposit
Replies: 96
Views: 10406

Re: Making a 3.8 million deposit

I have sold my business. I will have a 3.8 million dollar check to deposit into my local bank. I will transfer 3.2 million to an online bank or investment bank to earn better interest. My accountant told me to keep around $600,000 to pay capital gains tax and state tax. I want the money I transfer ...
by djpeteski
Fri Feb 01, 2019 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance for Dummies?
Replies: 19
Views: 747

Re: Life Insurance for Dummies?

As for duration and amount, that's the trickier part. I went with $300k for 15 years (for $14/month). I have no idea why people recommend a particular multiple of income - I can't see why income is relevant. Only expenses. You are correct in this, but for many people income <= expenses. Also given ...
by djpeteski
Fri Feb 01, 2019 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance for Dummies?
Replies: 19
Views: 747

Re: Life Insurance for Dummies?

All great advice so far. Here are some additional factoids: The purpose of life insurance is to protect those that depend on your income in the case of your untimely death. The proceeds replaces the income you would have earned. As others have said, if your spouse is of the stay at home variety, you...
by djpeteski
Thu Jan 31, 2019 12:26 pm
Forum: Investing - Theory, News & General
Topic: An emergency fund cautionary tale
Replies: 89
Views: 10395

Re: An emergency fund cautionary tale

This has some dealings with the government shutdown, but out of the last 8 biweekly paychecks my wife has received 1 It is late January and have only been paid once since mid October. Also since I am hourly and do not get hourly pay part of November, most of December, and quite a bit of January (due...
by djpeteski
Wed Jan 30, 2019 12:05 pm
Forum: Investing - Theory, News & General
Topic: 1st year with a rental property - hitting singles
Replies: 37
Views: 3958

Re: 1st year with a rental property - hitting singles

It is a small 2 bedroom property in an up and coming neighborhood on Long Island, NY. From my time there, all neighborhoods are up and coming. When I moved there in the mid-70s Nesconset/Smithtown were considered to far out to be worthy much. Now those towns are prime real estate. 4. Before you get...
by djpeteski
Wed Jan 30, 2019 9:12 am
Forum: Personal Consumer Issues
Topic: Anyone bought a Ford recently? Advice please...
Replies: 42
Views: 2874

Re: Anyone bought a Ford recently? Advice please...

I bought a Ford in late 2017 and got an amazing deal. I had a choice that came down to two vehicles: 1) 2014 Ford Edge with 22K miles for 24K 2) 2016 Ford Edge new (less than 1K) for 27K I went with number 2, new from the dealer. It was August of 2017, so the 2018's were coming out. The dealer wante...
by djpeteski
Tue Jan 29, 2019 7:16 am
Forum: Personal Investments
Topic: Helping Kids with Home Purchase
Replies: 70
Views: 4904

Re: Helping Kids with Home Purchase

duplicate
by djpeteski
Tue Jan 29, 2019 7:16 am
Forum: Personal Investments
Topic: Helping Kids with Home Purchase
Replies: 70
Views: 4904

Re: Helping Kids with Home Purchase

We are likely to help our son (31) and DIL (28) buy their first house by co-signing so our income helps them qualify. I would be interested to hear what experience others have had. Better still, if there's a related thread I didn't find, I'd appreciate a pointer. Details: -- We can afford to help, ...
by djpeteski
Mon Jan 28, 2019 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Money Troubles: Need advice to start over from a hole.
Replies: 37
Views: 3008

Re: Money Troubles: Need advice to start over from a hole.

One answer to his issues: daveramsey.com If he is a bit of an intellectual, he might balk at the simplicity and the "mathematically inefficiency", however, it worked excellent for me and many others. The thing that DR does different is that he addresses the behavioral aspect of financial decisions. ...
by djpeteski
Mon Jan 28, 2019 7:11 am
Forum: Personal Finance (Not Investing)
Topic: Opinions on Computational Engineering Undergraduate Major
Replies: 91
Views: 3267

Re: Opinions on Computational Engineering Undergraduate Major

No matter what kind of engineering this person want's to do, their resume would be stronger with programming skills.

I know a recently graduated ME who "hates" programming, and he can't find a job but he is somewhat geographically limited.
by djpeteski
Mon Jan 28, 2019 7:08 am
Forum: Personal Investments
Topic: High Earners Mostly Use Taxable Accounts?
Replies: 167
Views: 13302

Re: High Earners Mostly Use Taxable Accounts?

How do middle to high earners save enough for early retirement? The max on tax friendly accounts (e.g. 401k, Back Door Roth, etc.) are not very high. Sorry, my wife and I make around 350k to 450k a year (depending on bonuses). I am 42 and she is 37. We are hoping to reach around 2.5M to be financia...
by djpeteski
Fri Jan 18, 2019 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Have I Now Become Out of Touch Financially? Aging question...
Replies: 90
Views: 11310

Re: Have I Now Become Out of Touch Financially? Aging question...

even a decent pickup truck is $40+K, tradesmen driving $65K trucks and their wives driving $70K Escalades. I think the car thing is out of control nationwide. Here in central FL you see guys without meaningful work, wife works as an RN (good but not great living), driving 120K+ of vehicles. Another...
by djpeteski
Thu Jan 17, 2019 10:27 am
Forum: Personal Consumer Issues
Topic: Washington State Solar Incentives
Replies: 18
Views: 987

Re: Washington State Solar Incentives

We have the same size system as my sister who lives in Salt Lake City. In July we produced more than they did. Those short winter days conversely mean very long summer days. True, but one would think that those long summer days, in Western Washington, would have less electrical demand. For one ther...
by djpeteski
Wed Jan 16, 2019 3:16 pm
Forum: Personal Investments
Topic: Why are you NOT buying rental properties?
Replies: 221
Views: 16760

Re: Why are your NOT buying rental properties?

So, I have to ask..if you are willing to hustle and you have the money, why are you not buying rental properties? I am glad that things are working for you now and hopes it continues to do so. Where were you in the 2006 time frame? You may want to remind/study about that so would know the disaster ...
by djpeteski
Wed Jan 16, 2019 12:44 pm
Forum: Personal Consumer Issues
Topic: Washington State Solar Incentives
Replies: 18
Views: 987

Re: Washington State Solar Incentives

How is solar going to work in Washington state? I assume you mean west of the Cascades, or perhaps places like Sequim. But even then it would seem like the shortened winter daylight hours would make it a poor value at almost any cost.
by djpeteski
Wed Jan 16, 2019 10:31 am
Forum: Personal Consumer Issues
Topic: Swimming, do you? Advice sought.
Replies: 32
Views: 2387

Re: Swimming, do you? Advice sought.

The common term is "Adult onset swimmer", like you I took lessons in my youth but never learned to crawl properly. At 50, I did my first sprint triathlon which included a 400m swim. Even after my 4th and over two years later I am still alternating side stroke and crawl. For me the hypoxic is tough t...
by djpeteski
Mon Jan 14, 2019 11:53 am
Forum: Personal Finance (Not Investing)
Topic: Getting a Mortgage when You can Pay Cash for a House
Replies: 162
Views: 8870

Re: Getting a Mortgage when You can Pay Cash for a House

If you are dead set on getting a loan, I would advise against a conventional loan. Conventional loans have high origination costs, and in the case you cite (30 year fixed) a relatively high interest rate. From my experience you are better off getting a fixed rate and length home equity loan. While ...
by djpeteski
Fri Jan 11, 2019 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Getting a Mortgage when You can Pay Cash for a House
Replies: 162
Views: 8870

Re: Getting a Mortgage when You can Pay Cash for a House

If you are dead set on getting a loan, I would advise against a conventional loan. Conventional loans have high origination costs, and in the case you cite (30 year fixed) a relatively high interest rate. From my experience you are better off getting a fixed rate and length home equity loan. While m...
by djpeteski
Thu Jan 10, 2019 7:48 am
Forum: Personal Finance (Not Investing)
Topic: Paid off Mortgage...what to do next
Replies: 32
Views: 2719

Re: Paid off Mortgage...what to do next

Congratulations! Radical, and aggressive plan! It is a bit too aggressive for my blood, but it is not my life. :sharebeer :sharebeer So to me you have a looming deadline: April 15th, and you need 11K to fully fund the Roths. Between now and that time you have about 20K: 2,900 * 4.5 + 7000. If it was...
by djpeteski
Tue Jan 08, 2019 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Need a little insight from STEM Bogleheads
Replies: 59
Views: 2700

Re: Need a little insight from STEM Bogleheads

My GF and I are very different when it comes to money. I’m very fickle while she’s relaxed. For the record this is normal. This is a typical dynamic in most relationships. Even with depression survivors, one tends to be less thrifty although both might be more thrifty compared to you. So if you fin...
by djpeteski
Tue Jan 08, 2019 7:19 am
Forum: Personal Consumer Issues
Topic: Leasing a car
Replies: 27
Views: 2770

Re: Leasing a car

We want to lease a car vs buying. We are retired and like the idea of getting a new car with new technology every three years. That being said, I have read and watched many video’s of ways to lease. The overall idea is to negotiate the price of the vehicle first. But why? We have a monthly cost we ...
by djpeteski
Mon Jan 07, 2019 9:21 am
Forum: Personal Finance (Not Investing)
Topic: $100 Christmas gift
Replies: 14
Views: 1747

Re: $100 Christmas gift

For years and years I wanted a pair of hockey skates, but I could never justify the cost from a financial perspective, is it "ok" to let the money go in this case or should I invest it? If you want a pair of hockey skates, get them. However, you might want to spend a bit more. Do you know your actu...
by djpeteski
Mon Jan 07, 2019 6:58 am
Forum: Personal Consumer Issues
Topic: Thoughts on Buying a Ryan Home?
Replies: 30
Views: 3091

Re: Thoughts on Buying a Ryan Home?

Questions for the Bogleheads community: - Would you buy it if you were in a similar situation? If not, why not? Sometimes a new home is a better value. I was faced with a similar situation many years ago and had no choice but to buy new. Either I was going to pay the same for a 20 year old home tha...
by djpeteski
Mon Jan 07, 2019 6:48 am
Forum: Personal Consumer Issues
Topic: $70k Salary, how much Car can I afford? Recommendations?
Replies: 22
Views: 2728

Re: $70k Salary, how much Car can I afford? Recommendations?

91 Honda Civic Sedan - 169k miles (purchase price, $1500 in '14 at 125k miles) I drive quite a bit for my day job (on-site consulting IT service) and use the civic as my daily driver for the gas savings. At times I am concerned with how old my civic actually is, but it still continues to crank up e...
by djpeteski
Fri Jan 04, 2019 12:07 pm
Forum: Personal Consumer Issues
Topic: Gift Ideas for wife
Replies: 76
Views: 5566

Re: Gift Ideas for wife

run/lift When it comes to sports, there are countless things you can spend money on that are not considered needs, but would be very handy. For one running shoes, they wear out frightfully fast. In order to stay in decent shape to run a 5k, one should be running about 15 miles per week. Doing that,...
by djpeteski
Fri Dec 28, 2018 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance - Is this too much?
Replies: 22
Views: 1863

Re: Life Insurance - Is this too much?

How do those costs seem high? His employer coverage is $450 for 700K of coverage. His spouse's policy outside of work costs $525 for 500K of coverage - that is cheap compared to what you are paying. They could shop with an independent agent, they sound reasonable. In the event, he loses job, then e...
by djpeteski
Thu Dec 27, 2018 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance - Is this too much?
Replies: 22
Views: 1863

Re: Life Insurance - Is this too much?

5 years into a 30 year term life policy. My age 44, wife age 41, both good health. I am an engineer and she is a SAHM. We have 4 kids ages 4-10. My policy - $1500/yr - $1M coverage Her policy - $525/yr - $500K On top of that we have coverage from my employer. Total cost is $450/year for coverage of...
by djpeteski
Wed Dec 26, 2018 8:12 am
Forum: Personal Finance (Not Investing)
Topic: SEP or pay off mortgage
Replies: 24
Views: 1686

Re: SEP or pay off mortgage

The thing you don't know is if the stocks will go lower. At the end of 2020 would you have been better off buying stocks or paying down the mortgage? You don't really know, so flipping a coin is good advice as any. In the end either decision is really good. However here are some options: 1) Stick it...
by djpeteski
Wed Dec 26, 2018 7:53 am
Forum: Personal Finance (Not Investing)
Topic: Credit Card Question
Replies: 30
Views: 2093

Re: Credit Card Question

Credit score hackers are often working on old information and the algorithm to determine your score is in constant flux. Specific score models rarely change, at least not consequentially. New score models come out all the time, but most never see widespread adoption. If you are correct then the cre...
by djpeteski
Tue Dec 11, 2018 11:19 am
Forum: Personal Investments
Topic: My PenFed 5 yr CDs are maturing
Replies: 35
Views: 2790

Re: My PenFed 5 yr CDs are maturing

Currently the 5 year brokered CDs are at 3.5% as well. The one I am looking at is from Wells Fargo and has a monthly coupon. However, it sounds like you don't need the income.
by djpeteski
Tue Dec 11, 2018 9:01 am
Forum: Personal Finance (Not Investing)
Topic: How Do You Discover Software For Your Small Business?
Replies: 7
Views: 714

Re: How Do You Discover Software For Your Small Business?

@Pepperz, can you recommend any books or resources? I can't recall titles right now... The Lean Startup is probably resource #1. Basically say you think a feature is important. You use the beta partners as a resource to decide if it is important, it may not be. Instead you implement what they want ...
by djpeteski
Tue Dec 11, 2018 7:25 am
Forum: Personal Investments
Topic: Income is greatly reduced. When would you absolutely stop 401k contributions?
Replies: 12
Views: 1583

Re: Income is greatly reduced. When would you absolutely stop 401k contributions?

If it was me, I would go into survival mode, cutting all expenses including the 401K. I would tend to put a date certain on making a decision about what to do if you don't have a profitable client by a certain date. This is not a situation where you are "missing out" on an employer's match. As an S ...
by djpeteski
Tue Dec 11, 2018 7:25 am
Forum: Personal Investments
Topic: Income is greatly reduced. When would you absolutely stop 401k contributions?
Replies: 12
Views: 1583

Re: Income is greatly reduced. When would you absolutely stop 401k contributions?

If it was me, I would go into survival mode, cutting all expenses including the 401K. I would tend to put a date certain on making a decision about what to do if you don't have a profitable client by a certain date. This is not a situation where you are "missing out" on an employer's match. As an S ...
by djpeteski
Mon Dec 10, 2018 1:44 pm
Forum: Personal Consumer Issues
Topic: To each his own ( I guess ) [Opinions of traveling in retirement]
Replies: 109
Views: 7998

Re: To each his own ( I guess )

Call us uncultured.... Uncultured! Sorry to do that, but you asked. It's your (you and wifey) damn money do with it as you please. Editorially, it says something very positive about you, your wife, kids, and grand kids that you are able to and find joy in traveling together. It is a real blessing, ...
by djpeteski
Mon Dec 10, 2018 11:09 am
Forum: Investing - Theory, News & General
Topic: New NFCU Certificate Offering
Replies: 6
Views: 814

Re: New NFCU Certificate Offering

As the name implies it sounds like their goal is to get people "started" into the mode of buying their CDs. The fact that you can only have one, and the very low maximum ($3K) means you're not going to get big profits from this. That said, anyone who can should buy one - no reason to leave even mod...
by djpeteski
Thu Dec 06, 2018 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Should we sell farmland to coal company?
Replies: 33
Views: 2059

Re: Should we sell farmland to coal company?

greg24 wrote:
Thu Dec 06, 2018 11:27 am
Do you want a surface coal mine 4 miles from your house?
This +1
by djpeteski
Wed Dec 05, 2018 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Odd question re: whole life insurance
Replies: 7
Views: 677

Re: Odd question re: whole life insurance

I'm guessing the ownership must have reverted to the kids at age 21. They will find out how much they are getting when they go to collect it. Great for them regardless! This is what I would have answered. Your DH was the owner when the kids were minors, and at sometime (I would think 18), the took ...
by djpeteski
Tue Dec 04, 2018 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Reuqesting Help With Managing of Winnings
Replies: 37
Views: 3797

Re: Reuqesting Help With Managing of Winnings

With any kind of gambling the most important skill is bankroll management. You will have events and runs were you get extremely unlucky. Those times must not bankrupt you and your regular life. There are times were you get hot, like you just did. Some of it goes to the bankroll, some of it gets save...
by djpeteski
Tue Dec 04, 2018 7:15 am
Forum: Personal Investments
Topic: Will we make it saving only in employer plans?
Replies: 58
Views: 4249

Re: Will we make it saving only in employer plans?

I'm (the family) is having a tough time putting away anything beyond what's offered by our employer's. It's embarrassing really, I know we could do more but it feels like we are constantly hemorrhaging money right & left for both expected and unexpected reasons. There's always something going on wi...
by djpeteski
Mon Dec 03, 2018 6:59 am
Forum: Personal Investments
Topic: The first million?
Replies: 36
Views: 5617

Re: The first million?

That's amazing you were able to do this in just 4 years. That was an extremely lucky run, which I'm sure was sped up by diligent savings. Thank you for the real numbers though yes, I agree it's all just gray thinking for now. However, as the saying goes-a journey of a thousand miles begins with a s...
by djpeteski
Mon Dec 03, 2018 6:56 am
Forum: Personal Consumer Issues
Topic: First Triathlon. What bike to buy?
Replies: 34
Views: 1922

Re: First Triathlon. What bike to buy?

I would second the opinion on doing the sprint distance on her current bike. It sounds like she has the right attitude, she is just trying to try out the format to see if she likes it. Its a pretty short distance to ride. If you/her are going to spend money make sure she has a good tri suit. The fit...