Search found 1066 matches

by djpeteski
Mon Feb 21, 2022 5:10 am
Forum: Personal Finance (Not Investing)
Topic: When to take Social Security
Replies: 35
Views: 4367

Re: When to take Social Security

Would you, or a surviving spouse, benefit from Roth conversions from your Traditional IRA or 401s? See https://www.bogleheads.org/wiki/Roth_IRA_conversion No. We are solidly in the middle of the 22% bracket, which will likely remain after retirement. If we do drop below, then yes we will do some Roth conversion. Do you plan to keep working after age 62? SS decreases the amount received by $1 for every two dollars earned. I don't know, but unlikely. My job is easy money and will offer a part time option as well. Are you married, female, well educated and well paid, or living in a safe neighborhood? Those factors will each increase your estimated lifespan. Take a look at https://www.livingto100.com/ to get a sense of your estimate. If you ar...
by djpeteski
Fri Feb 18, 2022 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: When to take Social Security
Replies: 35
Views: 4367

When to take Social Security

While I am at least 7 years away from deciding to take social security, like many of you I am a planner. Also I have run some of the SS calculators, and they don't seem to be correct IMHO. So please point out any flaws in my logic. Situation: I have no pension or other income. My monthly income will come from investments or social security. So if I do not take social security, it will have to come from my investments. I may retire before 62, or I may work part time. The work I do pays well enough and is not very stressful. For this reason I use a discount rate of 10% for a dollar of social security received today over one received in the future. It is the average return of the S&P500 which I am heavily invested in. I am and will use a 9...
by djpeteski
Tue Oct 26, 2021 1:05 pm
Forum: Personal Investments
Topic: Getting off Fisher Investment mailing list
Replies: 64
Views: 7660

Re: Getting off Fisher Investment mailing list

Mel Lindauer wrote: Tue Oct 26, 2021 11:22 am Use their prepaid return envelope to put a one-word message "DECEASED" inside.
Oh I like that.
by djpeteski
Tue Oct 26, 2021 10:52 am
Forum: Personal Investments
Topic: Getting off Fisher Investment mailing list
Replies: 64
Views: 7660

Re: Getting off Fisher Investment mailing list

Sorry all this was snail mail, not email. Luckily they do not have my email.
by djpeteski
Tue Oct 26, 2021 9:30 am
Forum: Personal Investments
Topic: Getting off Fisher Investment mailing list
Replies: 64
Views: 7660

Getting off Fisher Investment mailing list

Somehow, some way I got on the Fisher Investment mailing list. Despite being bombarded with web ads, I have never clicked on one, or requested their valuable information. From reading other posts, I feel like it will become a regular occurrence. In the mailer, they congratulated me on "out saving my peers" and becoming "among the wealthiest" whatever and offered some very "valuable" reports for free if I respond right away. I have no idea how they got my information. I am considering responding. Given that Fisher targets those with > 500K in investable assets, I am thinking of responding saying I have much less. The hope being that I get kicked off their mailing list. One of the boxes one can check is 0-199K in...
by djpeteski
Wed Jul 28, 2021 7:15 am
Forum: Personal Finance (Not Investing)
Topic: One month, still no counteroffer [job]
Replies: 79
Views: 7282

Re: One month, still no counteroffer

smalliebigs wrote: Tue Jul 27, 2021 9:01 pm For sure. Mentally, after the 3rd week of no updates, I've started to just feel disappointed at the lack of communication.
I don't think you should feel disappointed. This company has trouble signs: no annual increases, no bonuses, no new hires. It is not so much they don't care about you they care more about "how can we turn this ship around and become profitable again". It is a very sick business that may not survive, or may be severely handicapped for years to come. Most people that are battling stage 4 cancer do not concern themselves with upgrading a car or wardrobe.

IMHO your only option is the new job. It is far easier to work for, and be promoted in a health, vibrant business.
by djpeteski
Wed Jul 28, 2021 6:02 am
Forum: Personal Finance (Not Investing)
Topic: How close am I to early retirement?
Replies: 20
Views: 4065

Re: How close am I to early retirement?

First step: Float the idea of scaling back work with your current employer. Shoot for 50%. If not can you find a different job that will allow that?

You can determine how likely 100K will provide for you with increased leisure time. Let the nest egg grow. Try and do it for 3 years then make the jump into full time retirement.
by djpeteski
Tue Jul 27, 2021 2:33 pm
Forum: Personal Consumer Issues
Topic: How to become an Adjunct Professor?
Replies: 63
Views: 6336

Re: How to become an Adjunct Professor?

Do you have a PhD? Without that it is not worth it at most schools.

I looked into Adjunct teaching at a community college as I only have a masters. They desperately needed people to teach some advanced programming classes, and I could do so in a few different areas. The problem was the pay. Working at McDonalds would have been more lucrative and less stressful.

It might be better now with online classes, as these would have been in person classes. But still the pay was low.
by djpeteski
Mon Jul 26, 2021 8:57 am
Forum: Personal Investments
Topic: Employer to only match while using financial advisor/firm
Replies: 92
Views: 7194

Re: Employer to only match while using financial advisor/firm

What is the likelihood of your wife finding a different job? It would seem the 3% match is a losing proposition over the long and short term.

Going to an employer with a unconditional match might be very lucrative.
by djpeteski
Mon Jul 26, 2021 6:25 am
Forum: Personal Finance (Not Investing)
Topic: Have you ever taken a huge salary cut to live somewhere you wanted to be?
Replies: 35
Views: 5378

Re: Have you ever taken a huge salary cut to live somewhere you wanted to be?

Think about it the opposite way. If someone offered you double, of what you make now, to live in a place that you loathed would you take it?

I am guessing "no".

Take the job in Germany as it will make you happy. Hell even if you had no money you could probably live off that salary comfortably.
by djpeteski
Mon Jul 26, 2021 6:19 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Pay Off Question
Replies: 60
Views: 6643

Re: Mortgage Pay Off Question

There are times when you cannot make a wrong decision. You have 3.1 million dollars in cash, plus an income. You have a 275k mortgage. Small potatoes in comparison.

Do what makes you happy. If you want to lease some cars, have a mortgage, or even carry a small balance on a CC, then do so. It will not change your life.

For the DW and I we look at it like a convenience thing. Just as we may pay more for an item at the particular grocery store we find ourselves in, we don't want the hassle of making a mortgage payment.
by djpeteski
Thu Jul 22, 2021 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay for large purchase
Replies: 25
Views: 2851

Re: How to pay for large purchase

What is the reason you are holding all that cash? Is the purpose an emergency fund or is it for this exact large purchase?
by djpeteski
Thu Jul 22, 2021 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Mass Mutual whole life legacy pay 20
Replies: 44
Views: 3440

Re: Mass Mutual whole life legacy pay 20

While I’m not familiar with this particular product, it sounds like a “20-pay whole life policy”. As you note, payments for 20 years, insurance coverage for life. In general, Bogleheads would advise against buying any form of whole life insurance, including this product. If you have needs for life insurance, you will be far better served with level term insurance. In my view, whole life is a mish-mash of life insurance and “savings” elements thrown together. It doesn’t do either function very well. Buy term if you need life insurance. Use your $90 per month to invest in a low cost equity index fund like Total Stock Market. You will come out way ahead of whole life over time. From my calculations $90 a month or $1080 a year invest for 20 ye...
by djpeteski
Thu Jul 22, 2021 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Making a career change ideas
Replies: 4
Views: 776

Re: Making a career change ideas

IMHO you have to way two factors: the first is the market place. What service are people willing to pay for now, and in the future? The second is your abilities and interest. While brain surgery will continue to be a highly sought after field most people do not the ability, time, and money to seek after such a career.

While you might have the ability to be a great type writer repair person, you may not find a market for such skills.

A limiting factor might be the ability to obtain training in new career you choose.
by djpeteski
Thu Jul 22, 2021 5:50 am
Forum: Personal Investments
Topic: Review my parents' humble retirement with me
Replies: 37
Views: 8326

Re: Review my parents' humble retirement with me

I would sell the ball team stake, but value it at less than 21K not 75K. If the income was consistent you would have: 1300*3 = 4200 20% valuation: 21,000 If someone offered them 20K, I would take it. It is a cool luxury, but the last thing they need is inconsistent income or requirements for additional investments. Myself, I would be tempted to buy just to say I was part of an ownership group. Others may be willing to pony up a lot more money to have that "flex". It certainly is a cool luxury! I live in another state and they send me an unlimited-use card that gets me into any minor league game for free, park for free, sit wherever I want. I feel like a VIP! I'm unfamiliar with the 20% valuation. Can you tell me more about how yo...
by djpeteski
Wed Jul 21, 2021 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Rate Question
Replies: 37
Views: 4801

Re: Mortgage Rate Question

For some peace of mind I found Chase rates to be very good. What is not so good is the closing time of the loan.

Having purchased 7 months ago, I went with a mortgage company that could close in a short time (2 weeks) but the rate was higher. However, it did help us get the house at the price we wanted. The difference was .75%.

If I did not have the time constraint I probably would have went with Chase.
by djpeteski
Wed Jul 21, 2021 5:34 am
Forum: Personal Investments
Topic: Review my parents' humble retirement with me
Replies: 37
Views: 8326

Re: Review my parents' humble retirement with me

I would sell the ball team stake, but value it at less than 21K not 75K.

If the income was consistent you would have: 1300*3 = 4200

20% valuation: 21,000

If someone offered them 20K, I would take it. It is a cool luxury, but the last thing they need is inconsistent income or requirements for additional investments. Myself, I would be tempted to buy just to say I was part of an ownership group. Others may be willing to pony up a lot more money to have that "flex".
by djpeteski
Mon Jul 19, 2021 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice on how to retire with two underwater properties
Replies: 74
Views: 6721

Re: Need advice on how to retire with two underwater properties

FinalSign wrote: Mon Jul 19, 2021 11:09 am They have made many poor financial decisions and we've tried to counsel them for the past 15 years (once we realized what was going on) and they have been very resistant to our help.
It is sad, but your responsibility has long since ended.

The answer is, to go back to work until they can actually retire.
by djpeteski
Tue Jul 13, 2021 9:12 am
Forum: Investing - Theory, News & General
Topic: Writing covered calls.....free lunch?
Replies: 105
Views: 16147

Re: Writing covered calls.....free lunch?

IMHO the market, at time, presents us with excellent opportunity to make money rather easily. Buying a stock that is an attractive price, and then writing covered calls on it is an easy way to increase profits, than if you had just waited until the stock is no longer on sale. It will never be life changing money which is the crux of the fallacy of "infinite money glitch". Eventually, the market will price the stock correctly. Writing short term puts and calls, that are covered, are an excellent way to profit from a side ways market. With so much volatility, the opportunities are few however. Personally I like WBA for covered calls right now, pick up at ~48, write the 50 calls 3 weeks out until you get exercised. It is like getting...
by djpeteski
Mon Jul 12, 2021 7:07 am
Forum: Personal Consumer Issues
Topic: Restaurants in South Florida
Replies: 18
Views: 2650

Re: Restaurants in South Florida

galawdawg wrote: Sun Jul 11, 2021 12:19 pm
Seriously??? Wow. A restaurant that wanted me to to "put up a deposit" on the meal would be a restaurant that would experience the sight of me leaving without ordering, I wouldn't care how good the food was reputed to be. :annoyed
For some, the last thing they think of when choosing a restaurant, is the menu offering or customer service. For some it is all about being "seen" at the right place with the right people. I don't get it either, but I have witnessed it. A lot of south Florida is like that. The only thing terrific about some restaurants are the prices (for the owners) and the view so the beautiful people can be admired by the plebes.
by djpeteski
Mon Jul 12, 2021 5:50 am
Forum: Personal Consumer Issues
Topic: Ideas for DW's 40th Birthday
Replies: 34
Views: 4344

Re: Ideas for DW's 40th Birthday

What is her love language?

https://www.5lovelanguages.com/

From the way you wrote the question, it is not "Gifts". If it is "quality time" then a family vacay with baby sitter, or a vacay with just the two of you is an excellent idea.

If it is "words of affirmation" then having friends, coworkers, family write nice letters to her would be a great gift. You can even make something like that into something Pinterest-y.

Understanding what her love languages are will really help guide you to a gift.
by djpeteski
Thu Jul 01, 2021 5:40 am
Forum: Personal Consumer Issues
Topic: Would you send your kids to a high school rated 3 of 10?
Replies: 91
Views: 8807

Re: Would you send your kids to a high school rated 3 of 10?

You should investigate why the schools are low rated. In FL one thing that contributes significantly is standardized testing scores. My Daughter went to a high school, that was a "C" rated school and it actually worked out quite well for her. First and foremost she was safe. She went to school with a lot of lower income kids. So her sensible high school car was cool, because she had a car. In wealthier parts of Orlando, a Porsche is necessary to hit the same level of coolness. Not that that is all that important. What was important, is that she was able to try out and make the varsity cheer squad her junior and senior years, and take whatever AP classes she wanted. Had she gone to a higher rated school in a wealthier school distri...
by djpeteski
Mon Jun 28, 2021 9:19 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire today?
Replies: 98
Views: 17567

Re: Can I retire today?

If I woke up in your shoes, I would get a job that I really loved. Something like a dive master or bike shop employee. My goal would be to spend a lot of time outdoors and be able to commute on a bicycle. You can do some tax returns on the side and easily generate a ~40K or some income. No need to ever touch your investments and would give you significant downside protection.

These kinds of romantic life plans go awry when you meet a pretty significant other and have children.
by djpeteski
Mon Jun 28, 2021 9:10 am
Forum: Personal Finance (Not Investing)
Topic: HELOC for parent's mortgage payoff (short term) and other expenses
Replies: 7
Views: 954

Re: HELOC for parent's mortgage payoff (short term) and other expenses

I am a no debt guy, so please take this with a grain of salt. 100K is for "nice to haves" for your family. While you were working you were unable to save up and pay cash for those "nice to haves", so what you propose is to quit your job and borrow the money. That does not seem wise when you say that out loud. I can make other points, but I do not want to diminish from this one. Less income and higher debt load is a recipe for "tales of woe". Perhaps others can comment on the first 100K for Grandma's house, but I would be a firm "no" on the second 100K. Keep in mind, that if you do either a HELOC or cash out refi and use your income to qualify, quitting your job soon after funding could cause the loan ...
by djpeteski
Mon Jun 28, 2021 6:47 am
Forum: Personal Consumer Issues
Topic: Does a cheap road bike really exist?
Replies: 244
Views: 24585

Re: Does a cheap road bike really exist?

Update: I had a contend 3 on order, expected in 3 weeks. However, they had a contend AR 3 in my M size at the lbs! Yep, so i bought it! Excited. Better components and disk brakes, but importantly for me thicker tires. 1. Lbs recommended not getting clips/clip shoes (as did a friend). A friend said something similar. What shoes are recommended if I'm not using clips? Just looking for ideas. 2. Cycling shorts/tops. Never bought any. Time to now I think. Any recommendations? Cheers! I think that you will be very happy with this bike. You will need maintenance about 6 weeks/30 miles of riding. It is normal with every bike, cables stretch and stuff, that will not be an indication of long term maintenance needs of the bike. I think this is a muc...
by djpeteski
Thu Jun 24, 2021 12:13 pm
Forum: Personal Consumer Issues
Topic: What was your best quality of life improvement for $1000?
Replies: 193
Views: 30606

Re: What was your best quality of life improvement for $1000?

inittowinit wrote: Wed Jun 23, 2021 10:52 am I bought a used sit-stand desk for the pandemic for $400.
This is what I recommend, the damage I have done to my back/quads/hamstrings, from sitting in an office chair for many hours per day, are taking a very long time to undo. And I work really hard at it.
by djpeteski
Thu Jun 24, 2021 6:53 am
Forum: Personal Investments
Topic: Help deciding best way to pay off mortgage faster
Replies: 60
Views: 5106

Re: Help deciding best way to pay off mortgage faster

Is there a cost to paying biweekly? If so that may not be a good option. Many places charge for this and the bottom line is that it just does not make sense when the costs are considered.

For us, we just threw all our extra dollars at the mortgage. Our lender allowed principle only payments online and allowed more than one per month. So If I sold something and had an extra $80 in my pocket, I just deposited the money in the bank and put it to the mortgage.

In the end, there is no real miracles to paying off a mortgage. One must go with the lowest costs/least hassle way to get the principle paid down.
by djpeteski
Thu Jun 24, 2021 6:44 am
Forum: Personal Investments
Topic: Am I the only one whose taxes increased in 2017?
Replies: 11
Views: 1670

Re: Am I the only one whose taxes increased in 2017?

Those tax changes worked out really well if:
  • You have little or no itemizable deductions. This would include state taxes (income and property) or mortgage interest expense
  • Have an S or C Corp and pay yourself a small salary and take a high portion of income in dividends
A person with a high W2 salary, high state taxes, and a large mortgage would pay more in federal income taxes under the 2018 plan.

My speculation is that few itemized deductions are here to stay. Both political parties, historically, have sought to simplify the tax process. This is despite the fact that the current administration has promised to do away with all the changes. I also think the increased time to pay back 401K loans is here to stay.
by djpeteski
Mon Jun 21, 2021 7:44 am
Forum: Investing - Theory, News & General
Topic: What pitfalls do even smart people make when buying a home?
Replies: 211
Views: 25400

Re: What pitfalls do even smart people make when buying a home?

Not understanding the cost to transact real estate. It costs real dollars to buy and sell a home. For a trade in home, that we recently completed, it costs us about 50K for what most would consider moderately priced homes. Trading homes every few years will rob you of wealth. I have never heard a financial adviser talk about that.

Also taking the advice of real estate agents with a grain of salt. In order to sell real estate well you have to have a personality that does not mesh well with those who are conservative financially.
by djpeteski
Tue Jun 01, 2021 1:21 pm
Forum: Personal Investments
Topic: Please help me decide what to do with this life insurance policy
Replies: 14
Views: 1374

Re: Please help me decide what to do with this life insurance policy

Despite not being able to get 4% anywhere else, you may still want to cash it in. Part of the obligation, to get that 4%, is to buy life insurance. With whole life, you buy annual renewable term each year, and that is well hidden from the consumer. As you said, you don't need the insurance.

So it becomes a question if paying for a product you don't need is worth the extra return and tax avoidance.
by djpeteski
Wed May 26, 2021 9:28 am
Forum: Investing - Theory, News & General
Topic: Thieves stealing retirement funds - news article
Replies: 136
Views: 14864

Re: Thieves stealing retirement funds - news article

One take away is to have fewer accounts to login into. If you have left over 401Ks from various employers it might be best to consolidate them into one place. Another option is to have other banking through your broker of choice.

Fidelity offers a CC where rewards are directly deposited into your investment account. If this is your main card, you then have the need to login at least once per month.

Also it gives credence to those who track their net worth monthly. It is part of the wife and I's monthly budget meeting.
by djpeteski
Tue May 25, 2021 9:54 am
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 3606
Views: 562257

Re: Hello, 2 comma club

Very well done in a climate of spend, spend, spend. You are very young to reach this milestones.

Of those you do tell, beware of those that would diminish you accomplishment. There are people that rate the Grand Canyon with one star. Nothing/no one is immune from the haters.
by djpeteski
Wed May 19, 2021 10:46 am
Forum: Personal Consumer Issues
Topic: Suits (for work) - where and what brands?
Replies: 51
Views: 6899

Re: Suits (for work) - where and what brands?

NYCaviator wrote: Fri May 14, 2021 9:17 pm How was the fit when you first bought it? I've been skeptical about measuring myself and ordering a suit online.
Then don't measure yourself. Go to where you have your suits cleaned and they will probably do it for you for a small fee if not free. Of course you want the person that does the alternations to measure you.
by djpeteski
Wed May 19, 2021 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Anyone know about co-signing car leases?
Replies: 22
Views: 2032

Re: Anyone know about co-signing car leases?

Thanks for the great feedback. She loves being able to pay for the car... You are welcome. It is easy to have a knee jerk reaction about leasing. My mom leases and it kind of makes sense for her. I’m not on the insurance.... I see others have mentioned liability, what can I do to prevent any issues. Are you in the umbrella policy realm? If so you probably need to have a long talk with your insurance agent and hers. You could be sued if a liability incident occurs. The result is that you may need to add her to your umbrella policy and it will probably cost you like $100 or so more dollars per year. No need to tell mom about it as might cause negative feelings for her. Is there anything I can do after the fact? You could always redo the fina...
by djpeteski
Tue May 18, 2021 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Interest Only loan on my Investment Property
Replies: 15
Views: 1218

Re: Interest Only loan on my Investment Property

IMHO sell the property. While the new mortgage is slightly better, it still sounds like a terrible deal. With high rates and fees you are really limiting your ability to turn a profit.
by djpeteski
Tue May 18, 2021 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Quitting job with no plan- Please help assess my situation
Replies: 95
Views: 12493

Re: Quitting job with no plan- Please help assess my situation

For people in your situation what is preventing you from taking all the pressure off yourself and stopping after an 8 hour day or 40 hour work week? Boss: Why didn't you complete all your assignments this week? You: Well I only want to put in 40 hours of work for the week and I gave you 43, so some stuff got left undone. I will get to it as time permits. Boss: You have to complete all your assignments! You: I will, eventually, which ones would you like done first? Boss: You have to work whatever hours necessary! You: That is no longer going to work for me. Boss: You will be fired! You: Your prerogative, but without me the backlog will grow much faster. Boss: Yelling and screaming! You: Let me know when you calm down if you want to discuss f...
by djpeteski
Tue May 18, 2021 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Anyone know about co-signing car leases?
Replies: 22
Views: 2032

Re: Anyone know about co-signing car leases?

You didn't cosign, you are a co-owner for both this and the last lease. It seems with this lease you are the primary owner, where previously your mom was. You were lied to by the car dealerships. It seems this is common, I am active on another financial site and people run into trouble with this all the time. This occurs when there is a toxic relationship between the driver of the car and the "cosigner", but I strongly doubt this will apply to you and your mom. While I am normally dead set against car leases and cosigning. Both make sense in this case. For older folks, with a steady pension why not lease? Yea it cost more but it is a small price to pay for a bit of luxury and doesn't tie up funds. Also cosigning for your mom is th...
by djpeteski
Tue May 18, 2021 6:13 am
Forum: Personal Consumer Issues
Topic: How to get out of a timeshare presentation?
Replies: 142
Views: 17653

Re: How to get out of a timeshare presentation?

In your case, remember that "No" is a complete sentence. You are not obligated to offer any explanations as to why. In fact you don't want to offer "whys" as they are trained to overcome objections. If they ask you a second or third time, you may want to add: "No, please stop asking." They are relying on you being worn out from the travel and just give in. Know that ahead and time and have your script set in your head.
by djpeteski
Tue Apr 27, 2021 11:14 am
Forum: Personal Consumer Issues
Topic: Motobecane fantom do sport 2020
Replies: 23
Views: 1984

Re: Motobecane fantom do sport 2020

For the record I bought a Giant Roam for about $700. Really a very nice bike and am very happy with it. Purchased from the local bike shop, and it took a bit to come in, but really a nice easy bike to ride with smooth shifting.

I have purchased (3) bike direct bikes and have replaced them all with something better. I would have been far better off just buying better in the first place.
by djpeteski
Mon Apr 26, 2021 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Expensive lesson from Amica - any recourse?
Replies: 87
Views: 10168

Re: Expensive lesson from Amica - any recourse?

new2bogle wrote: Mon Apr 26, 2021 8:16 am How do I or Amica prove roof age?
Generally speaking, through permitting. In just about every municipality one must pull a permit and have the work inspected to repair a roof. For many all the data is available online. I was able to find all the paper work that had to do with my home that was reroofed in 2016 when I was not the owner.
by djpeteski
Thu Apr 22, 2021 8:50 am
Forum: Personal Finance (Not Investing)
Topic: How Long Would You Stay in a Boring Government Job?
Replies: 114
Views: 12007

Re: How Long Would You Stay in a Boring Government Job?

CoastLawyer2030 wrote: Wed Apr 21, 2021 7:03 am
What do you mean 4x?
Basically I would want 4x the amount of work you book part time booked before I left the government job. I am not sure if that is possible, but I would like a nice "accounts receivable" column on the balance sheet.
by djpeteski
Wed Apr 21, 2021 6:28 am
Forum: Personal Consumer Issues
Topic: Who's been to Disney World during Pandemic?
Replies: 18
Views: 3447

Re: Who's been to Disney World during Pandemic?

Former Annual Pass Holder here (ours just expired due to some personal reasons). We went to WDW a lot during the pandemic took the grand kids, and adult children. PM with any specific questions. We went to all 4 parks, did the Epcot eating fairs, ate at restaurants onsite and at the Springs. For me, the worst thing is the way people who are Anti-Covid-19 policies (like wearing masks) treat employees who are just enforcing policy dictated by management. On several occasions Disney workers were struck by people unhappy with being told to wear their mask. I hate that crap. When the parks first opened after the pandemic, they were pretty empty. No however, they are crowded again. Lines are physically much longer because of social distancing. Fo...
by djpeteski
Wed Apr 21, 2021 6:07 am
Forum: Personal Finance (Not Investing)
Topic: How Long Would You Stay in a Boring Government Job?
Replies: 114
Views: 12007

Re: How Long Would You Stay in a Boring Government Job?

Will you need office space and furnishings? A secretary? Phone system? I would get those kinds of things in place first. Then, I would attempt to book about 4 to 5 times the amount of work you are currently doing. Then jump ship. I think in the long run you would regret not doing it sooner. P.S. I am an older guy (54) saying this. In case I wasn't clear about this, I've had my side practice up and running for three years. I already have my website, my phone number, a virtual assistant, a secretary I pay quarterly, my office, etc. It's all set up. I'm sitting here right now about to file something that's due today. Really you have a couple of choices and they are all pretty good ones. It really depends upon the nature of your work and your ...
by djpeteski
Tue Apr 20, 2021 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: How Long Would You Stay in a Boring Government Job?
Replies: 114
Views: 12007

Re: How Long Would You Stay in a Boring Government Job?

Will you need office space and furnishings? A secretary? Phone system? I would get those kinds of things in place first. Then, I would attempt to book about 4 to 5 times the amount of work you are currently doing. Then jump ship. I think in the long run you would regret not doing it sooner.

P.S. I am an older guy (54) saying this.
by djpeteski
Mon Apr 05, 2021 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: How much Net Worth do you really need to be in the Top One Percent?
Replies: 12
Views: 3044

Re: How much Net Worth do you really need to be in the Top One Percent?

Aged Maduro wrote: Mon Apr 05, 2021 1:43 pm Finally, an interesting piece from Joshua Kennon back in 2011. He claims that IRS Estate Multiplier data from 2004 shows it takes less than $1,500,000.
https://www.joshuakennon.com/how-much-m ... ed-states/
This article talks about the IRS valuing individuals. For those of us that are dual income and highly integrated with our spouses how does that relate? Do they take our net worth and divide by 2? That would seem a bit inaccurate.

Based on observation of the cars people drive and the homes they buy, I feel our net worth and income are more likely in the bottom 1/3.
by djpeteski
Wed Mar 31, 2021 9:27 am
Forum: Personal Consumer Issues
Topic: What to do with 26 year old central AC unit?
Replies: 46
Views: 5123

Re: What to do with 26 year old central AC unit?

I think the annual maintenance on AC units is a scam. Mainly they are already there if something needs fixing and will likely gain your business.

A lot of AC repair can be done yourself a much lower costs. The most egregious was my last suggested repair. AC is not quite working right, and I have the dude diagnosis it for $100. Bad circuit board/relay. We can replace it for $600 or you should probably just get a new unit for $8k as it is 16 years old already.

I found the part on Amazon for $60. It took me less than 5 mins to replace.
by djpeteski
Tue Mar 30, 2021 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Career Advice
Replies: 12
Views: 1679

Re: Career Advice

It really is impossible to tell what the future holds. Could you be ruining your future advancements, maybe, but maybe not. There are a lot of scenarios that could play out, beyond your control, where in hindsight a different decision would have been better. You make a very good salary, and really what will impact your future is what you do with that salary. Give some, spend some, but invest some. Even if you currently had zero dollars, never got another raise, and invested 15% of your income you would be in pretty good shape. So the possibility exists that you may ruin your chances with these guys, but there are other guys that will give you an opportunity as well. However, the current management seems very understanding and I would do wha...
by djpeteski
Tue Mar 30, 2021 7:39 am
Forum: Personal Investments
Topic: Helping out Mom
Replies: 10
Views: 1230

Re: Helping out Mom

You could put the windfall in to Vanguard in the three fund portfolio and leave it there. Then take her withdrawals from the ML account. Over the years she will reduce the amount paid for professional fees.
by djpeteski
Tue Mar 30, 2021 6:05 am
Forum: Personal Consumer Issues
Topic: Fidelity Study on Retirement
Replies: 18
Views: 2392

Fidelity Study on Retirement

I ended up reading a not so great article on this study. The cool thing was I was able to find the study:

https://s2.q4cdn.com/997146844/files/do ... _FINAL.pdf

82% of Americans feel that their retirements plans were thrown off track by the pandemic. I feel like our situation improved and the same with most of my friends and family.
by djpeteski
Mon Mar 29, 2021 7:32 am
Forum: Personal Finance (Not Investing)
Topic: Sell the Big House or Keep?
Replies: 45
Views: 5952

Re: Sell the Big House or Keep?

mceagle555 wrote: Tue Mar 09, 2021 2:45 pm - House has basement mother-in-law suite that I rent out for $1k/month
It would not be my desire, but you could always live in the MIL suite and rent out the larger house.

I think you can also count refi costs against your profit.