Search found 191 matches

by FoolMeOnce
Fri Jul 20, 2018 4:03 pm
Forum: Investing - Help with Personal Investments
Topic: Should I Dump a Pile of Money on Young Son?
Replies: 121
Views: 7127

Re: Should I Dump a Pile of Money on Young Son?

Your son sounds like a very smart and responsible young man with a bright future. However, I wouldn't dump a pile of money on him. I think you should use it to help him out during your lifetime. It sounds like he's already on a great path, and I wouldn't risk altering it. When I was 24, I had gradu...
by FoolMeOnce
Fri Jul 20, 2018 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Downsize or just move on
Replies: 11
Views: 979

Re: Downsize or just move on

Are you still earning that income? If so, you should easily be able to build up large savings/investments in a matter of years. Wait, you are only 29 and still have $560k liquid even after this house? Why do you feel so insecure about your savings? Just keep doing what you are doing, including conti...
by FoolMeOnce
Fri Jul 20, 2018 12:33 pm
Forum: Investing - Help with Personal Investments
Topic: Should I Dump a Pile of Money on Young Son?
Replies: 121
Views: 7127

Re: Should I Dump a Pile of Money on Young Son?

No you should not dump a pile of money on your young son. He's doing great, and you might ruin him with it. The wrong sorts of people may become attracted to him (they seem to be able to smell money on a person). See an estate planning lawyer for help in preserving and protecting that money for you...
by FoolMeOnce
Fri Jul 20, 2018 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off share of children's student loans with house or stay?
Replies: 17
Views: 703

Re: Paying off share of children's student loans with house or stay?

My share is 58K and that is covered by my share of the house equity. I have no debt and ample retirement saved so I think respectively you missed my question. Should I stay in house for next 4-5 years given the #'s I provided. 1) They are your kids' shares, not yours. 2) 6.78% on $137k is an awful ...
by FoolMeOnce
Wed Jul 18, 2018 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirement
Replies: 145
Views: 13254

Re: Early retirement

texasdiver wrote:
Wed Jul 18, 2018 3:24 pm
Honestly I think it is kind of like the difference between porn and art. You know it when you see it but it is really hard to define.
Whether the work, taken as a whole, appeals to the pecuniary interest...
by FoolMeOnce
Wed Jul 18, 2018 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirement
Replies: 145
Views: 13254

Re: Early retirement

I retired 2 years ago at 47 and my wife last year at 49. We still have side gigs for about 1 week per month so I guess we are really 75% retired. The days go so quick. We look at each other every night and think where did the day go? We are active and workout most days. We spend 30-40% of the year ...
by FoolMeOnce
Wed Jul 18, 2018 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Early retirement
Replies: 145
Views: 13254

Re: Early retirement

I retired 2 years ago at 47 and my wife last year at 49. We still have side gigs for about 1 week per month so I guess we are really 75% retired. The days go so quick. We look at each other every night and think where did the day go? We are active and workout most days. We spend 30-40% of the year ...
by FoolMeOnce
Wed Jul 18, 2018 7:43 am
Forum: Personal Finance (Not Investing)
Topic: Selling mom's house
Replies: 50
Views: 3716

Re: Selling mom's house

rosepetal wrote:
Tue Jul 17, 2018 8:01 pm
She has asked us to take 100K AND turn around and give her 5k from each of our share so she can fix the house.
Sounds like this struggle is all over $5k each from you and two of your siblings. Is that right? If so, just agree and be done with it.
by FoolMeOnce
Tue Jul 17, 2018 10:22 pm
Forum: Personal Finance (Not Investing)
Topic: Buy a vacation home while renting
Replies: 61
Views: 3522

Re: Buy a vacation home while renting

We bought out first vacation property (lake house) while still renting in the city. Paid cash. One of our best decisions. Within a year or two bought a condo in the city when our landlord asked us to move in order to move his parents in. Up until that point we were quite happy to rent. Vacation pro...
by FoolMeOnce
Tue Jul 17, 2018 10:16 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie: 35 and I have no idea what I'm doing
Replies: 9
Views: 1399

Re: Newbie: 35 and I have no idea what I'm doing

[*] My asset allocation for the taxable accounts are messed up because I misunderstood the "higher proportion of stocks when you're younger" advice. I didn't realize it was talking about tax-advantaged accounts and long-term investing for retirement. I'm very wary of the asset allocation now and wo...
by FoolMeOnce
Tue Jul 17, 2018 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Buy a vacation home while renting
Replies: 61
Views: 3522

Re: Buy a vacation home while renting

I think as an investment there is a chance it could appreciate sufficiently to make it worthwhile, especially since I think land itself is a good investment and want to get at least 20 acres or so. There have been a couple recent threads on real estate discussing how the historical return for home ...
by FoolMeOnce
Tue Jul 17, 2018 8:28 am
Forum: Personal Finance (Not Investing)
Topic: Buy a vacation home while renting
Replies: 61
Views: 3522

Re: Buy a vacation home while renting

We bought out first vacation property (lake house) while still renting in the city. Paid cash. One of our best decisions. Within a year or two bought a condo in the city when our landlord asked us to move in order to move his parents in. Up until that point we were quite happy to rent. Vacation pro...
by FoolMeOnce
Mon Jul 16, 2018 1:56 pm
Forum: Investing - Help with Personal Investments
Topic: Help me analyze this real estate sale
Replies: 15
Views: 957

Re: Help me analyze this real estate sale

ebeard wrote:
Mon Jul 16, 2018 1:24 pm
But I also won't have to pay for repairs and HOA fees once it is sold.
Or property taxes. Or other maintenance. You aren't netting $3k/month on the unit, right?
by FoolMeOnce
Sat Jul 14, 2018 8:03 am
Forum: Investing - Theory, News & General
Topic: Direct Real Estate Returns
Replies: 208
Views: 8870

Re: Direct Real Estate Returns

From a prior post, so I don't have to write it out again: Buy a property at $100K, $20K down. Monthly rents of $900-$950. I personally buy in markets with 6-8% long term appreciation, but lets be very conservative and use the general longer-term real estate appreciation value across the entire U.S....
by FoolMeOnce
Fri Jul 13, 2018 9:14 am
Forum: Investing - Theory, News & General
Topic: Saving 20% of paycheck isn't enough
Replies: 111
Views: 12645

Re: Saving 20% of paycheck isn't enough

The 20% savings rate recommendation is not aimed at allowing people to retire in their 40s. I don't find it misleading. It is a fine, easy to understand target to get people to save enough for a traditional retirement after working 40ish years. And yes, people saving 20% will have different account ...
by FoolMeOnce
Sat Jun 23, 2018 3:12 pm
Forum: Investing - Theory, News & General
Topic: Avoiding Capital Gains Tax
Replies: 16
Views: 1756

Re: Avoiding Capital Gains Tax

This is accurate, but it can be confusing. To take the example further, the marginal rate on additional capital gains over the 22% tax bracket threshold remains 15%. But the marginal rate on additional earned income becomes 27%, up until all capital gains are taxed at 15% and ordinary income alone ...
by FoolMeOnce
Sat Jun 23, 2018 9:26 am
Forum: Investing - Theory, News & General
Topic: Avoiding Capital Gains Tax
Replies: 16
Views: 1756

Re: Avoiding Capital Gains Tax

jeffyscott wrote:
Sat Jun 23, 2018 8:02 am
Now what if your LTCG is $7400, you still are in the 12% bracket but have exceeded the 0% LTCG bracket, I assume this would mean just the extra $200 is subject to 15% tax, so $30. Or does the whole $7400 become subject to 15% tax?
Just the extra $200.
by FoolMeOnce
Wed Jun 20, 2018 9:30 pm
Forum: Investing - Help with Personal Investments
Topic: How much of your taxable holdings is unrealized capital gains?
Replies: 58
Views: 5027

Re: How much of your taxable holdings is unrealized capital gains?

Many people have a lot of room in early retirement to take capital gains at a 0% tax rate. Others plan to hold the largest gains until death so their heirs get a stepped-up basis. Others donate the holdings with the largest gains. So even knowing what percent are unrealized gains, everyone's assets ...
by FoolMeOnce
Tue Jun 19, 2018 4:19 pm
Forum: Investing - Theory, News & General
Topic: Advice on Roth conversions
Replies: 21
Views: 1676

Re: Advice on Roth conversions

Thanks, couple more questions: (1) Since the 12% bracket tops out at $77,400K, what you are saying is that I can roll over $77+K while remaining in this bracket. (2) What are the implications of the expected large LTCGs (if any)? As previously stated, I have $300K+ of LTCG for the next 3 years... t...
by FoolMeOnce
Tue Jun 19, 2018 1:59 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement Investing With Healthcare $$ Concerns
Replies: 10
Views: 848

Re: Retirement Investing With Healthcare $$ Concerns

There is a pending lawsuit seeking to invalidate the entire ACA, and the administration has taken the position that only certain provisions should be struck, including protections for those with pre-existing conditions. So the second advisor was right to suggest that this is something to consider in...
by FoolMeOnce
Tue Jun 19, 2018 9:58 am
Forum: Investing - Help with Personal Investments
Topic: Asset Allocation for a 26 year old?
Replies: 15
Views: 1382

Re: Asset Allocation for a 26 year old?

I agree with the posters who suggest paying off the student loans as quickly as possible, but probably not in one year. First maximize contributions to tax-preferred spaces (401k, 403(b), etc), then throw the rest at your loans. If you keep your lifestyle the same, you could probably do this in ~2 y...
by FoolMeOnce
Tue Jun 19, 2018 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Do you think it is smart to disclose that you have passive investments to other people?
Replies: 43
Views: 4377

Re: Do you think it is smart to disclose that you have passive investments to other people?

I agree with everyone piling on here. Also, Also, I think some clients may think their doctors/lawyers/real estate agents are just after the money right? I would think disclosing other income-generating assets would build trust. Learning that my doctor or lawyer has time-consuming real estate involv...
by FoolMeOnce
Mon Jun 18, 2018 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: Retire at 50: Should I?
Replies: 93
Views: 12200

Re: Retire at 50: Should I?

TravelforFun wrote:
Mon Jun 18, 2018 6:53 pm
What would you do with all the free times at age 50.5? . . .

TravelforFun
Seems like as good an answer as any. :wink:
by FoolMeOnce
Fri Jun 15, 2018 4:38 pm
Forum: Investing - Theory, News & General
Topic: Which boglehead rule do you break--and are ok with
Replies: 152
Views: 11904

Re: Which boglehead rule do you break--and are ok with

I'm a pretty strict boglehead. The one guide I don't do is a written out directive Investment Plan Statement. I have some guiding heuristics I stick to religiously (segregating buckets according to desired risk and timeline, rebalancing) but I personally have never felt the need to write out anythi...
by FoolMeOnce
Wed Jun 13, 2018 12:03 pm
Forum: Personal Consumer Issues
Topic: Living Abroad - Who's done it?
Replies: 52
Views: 4910

Re: Living Abroad - Who's done it?

I have not and I regret not doing it. My career path to this point hasn't really allowed it, and now with a wife who loves her job and two young kids, it is not a possibility. About a couple of the things holding you back: Things holding me back: Aging parents. I have two siblings who live in the sa...
by FoolMeOnce
Tue Jun 12, 2018 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Boring Job
Replies: 64
Views: 7370

Re: Boring Job

There is only so much I can do since I am new to the field and my tasks are scheduled throughout the day for longer periods of time then it takes me so I can't tell my boss that I finished something early or else it looks bad Why does it look bad to tell your boss you can complete a task more quick...
by FoolMeOnce
Mon Jun 11, 2018 12:20 pm
Forum: Investing - Help with Personal Investments
Topic: Large inheritance -- looking for advice
Replies: 56
Views: 6726

Re: Large inheritance -- looking for advice

You can always decrease how much you withdraw with market fluctuations. It depends on market performance. There's been follow up studies to the Trinity study and they are putting the number between 3-4% still... Furthermore if you FI/RE early on you can still find other ways to make money by pursui...
by FoolMeOnce
Sun Jun 10, 2018 9:57 pm
Forum: Investing - Help with Personal Investments
Topic: Large inheritance -- looking for advice
Replies: 56
Views: 6726

Re: Large inheritance -- looking for advice

You've gotten good advice and seem to be on a good track processing it. This, however, is wrong: With the amount you have you can withdraw .04% (~240k) per year forever and your 6m will still grow. The 4% "rule" is based on having more than $0.00 left after 30 years. (Though if you withdrew ".04%" ...
by FoolMeOnce
Sat Jun 09, 2018 9:56 pm
Forum: Investing - Help with Personal Investments
Topic: Large inheritance -- looking for advice
Replies: 56
Views: 6726

Re: Large inheritance -- looking for advice

You've gotten good advice and seem to be on a good track processing it. This, however, is wrong: With the amount you have you can withdraw .04% (~240k) per year forever and your 6m will still grow. The 4% "rule" is based on having more than $0.00 left after 30 years. (Though if you withdrew ".04%" ...
by FoolMeOnce
Fri Jun 08, 2018 3:54 pm
Forum: Investing - Help with Personal Investments
Topic: Large inheritance -- looking for advice
Replies: 56
Views: 6726

Re: Large inheritance -- looking for advice

You've gotten good advice and seem to be on a good track processing it. This, however, is wrong: With the amount you have you can withdraw .04% (~240k) per year forever and your 6m will still grow. The 4% "rule" is based on having more than $0.00 left after 30 years. (Though if you withdrew ".04%" y...
by FoolMeOnce
Wed Jun 06, 2018 1:16 pm
Forum: Investing - Theory, News & General
Topic: FIRECalc anomaly
Replies: 10
Views: 995

Re: FIRECalc anomaly

I think this happens even if you include spending. I don't understand why. ETA: just tested some absurd numbers and got results below zero... But with a highest value exactly equal to the starting value. It says this is the maximum value after 30 years, not the maximum during any point in the 30 yea...
by FoolMeOnce
Wed Jun 06, 2018 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Super funding 529
Replies: 13
Views: 1201

Re: Super funding 529

Very helpful mcraepat9. I'm going to run some numbers on pros/cons of superfunding vs. staggering the payments to capture max deductions. This seems to be the main decision I need to make. What is more important? Gain in the account or saving $1K in taxes? If you put in $100K, the market goes up sa...
by FoolMeOnce
Wed May 23, 2018 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Buy this home?
Replies: 39
Views: 4144

Re: Buy this home?

I'm also someone who is not handy at all---if I can minimize the probability of maintenance issues than that is a much better outcome for me -> thus new construction. If the goal is to find something that will likely require the least maintenance, I would prefer something 10-20 years old. New const...
by FoolMeOnce
Tue May 22, 2018 11:39 am
Forum: Personal Consumer Issues
Topic: How have you upgraded your wardrobe?
Replies: 104
Views: 6222

Re: How have you upgraded your wardrobe?

I bought some new socks from JC Penney a couple of years ago. It took me a year to get around to opening the package. I usually only introduce a new pair into my sock rotation when there's a special occasion, like when we visit friends/relatives where the custom is to remove shoes when we enter the...
by FoolMeOnce
Mon May 21, 2018 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Are high dividend stocks advantageous for the 15% tax rate?
Replies: 46
Views: 4130

Re: Are high dividend stocks advantageous for the 15% tax rate?

I prefer dividends over selling index funds to produce income. There are reasons to prefer it, like for the mechanics of cash appearing in your account with no effort rather than dealing will selecting what to sell and executing trades. But I've never seen a reason to prefer it for performance. The...
by FoolMeOnce
Thu May 17, 2018 1:50 pm
Forum: Personal Consumer Issues
Topic: How to think about schools/homes (Greatschools/Niche)
Replies: 70
Views: 4866

Re: How to think about schools/homes (Greatschools/Niche)

I never heard of greatschools, so I just went there to see how our excellent schools are rated. Wow, expected better than 5, 5 and 7! I looked deeper as this makes no sense, and the schools got really bad marks for lack of diversity, equity, and some other non-relevant stuff. Got 10/10 for college ...
by FoolMeOnce
Thu May 17, 2018 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off Debt vs. Investing
Replies: 25
Views: 1497

Re: Paying off Debt vs. Investing

That's just my reading of all the mortgage v. invest discussions. Maybe it's just me. But nobody is saying to get the guaranteed return of mortgage interest rate by paying it down early and then take the interest savings/earnings and set them on fire. As I said above, it looks like the only tried re...
by FoolMeOnce
Wed May 16, 2018 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off Debt vs. Investing
Replies: 25
Views: 1497

Re: Paying off Debt vs. Investing

I agree with all of this. I guess what I'm getting at, assuming the math is correct, is that in all of the pay off debt vs. investing commentary I have seen, I have never once heard anyone say that you have to put that debt payment towards some kind of investment once the debt is paid off in order ...
by FoolMeOnce
Wed May 16, 2018 10:17 am
Forum: Investing - Help with Personal Investments
Topic: Large Personal Injury Settlement
Replies: 58
Views: 5335

Re: Large Personal Injury Settlement

A chunk of it will be allocated for my sisters' college (twins just turned 13) Good for you. Also, you edited your first post for more anonymity, but one of your later posts (copying and pasting the email you sent to the advisory firm) includes what I presume is your first name. Might want to go ed...
by FoolMeOnce
Wed May 16, 2018 9:04 am
Forum: Investing - Help with Personal Investments
Topic: Friend says "Stock market will crash, invest in silver" - thoughts?
Replies: 127
Views: 8513

Re: Friend says "Stock market will crash, invest in silver" - thoughts?

SmilerUK wrote:
Wed May 16, 2018 3:57 am
Noob question :-)

He said that come October or March next year, there are likely to be big crashes.
What about November through February? We'll be ok then?
by FoolMeOnce
Tue May 15, 2018 6:34 pm
Forum: Investing - Help with Personal Investments
Topic: Bringing individual assets into joint account
Replies: 27
Views: 1194

Re: Bringing individual assets into joint account

I moved a multiple of what you are considering into a joint account, haven't given it a second thought. As for the comments about keeping inheritances and legacies on one or the other side of the family, that can still be accomplished (though less precisely). You don't need to decide things evenly ...
by FoolMeOnce
Tue May 15, 2018 6:32 pm
Forum: Investing - Help with Personal Investments
Topic: Bringing individual assets into joint account
Replies: 27
Views: 1194

Re: Bringing individual assets into joint account

celia wrote:
Tue May 15, 2018 5:55 pm
FoolMeOnce wrote:
Tue May 15, 2018 5:33 pm
I meant how does keeping separate accounts help achieve that goal?
There are also other goals for the separate accounts.
Of course. I was asking about this goal, though. I'm just trying to learn something I might not know.
by FoolMeOnce
Tue May 15, 2018 6:22 pm
Forum: Investing - Help with Personal Investments
Topic: Bringing individual assets into joint account
Replies: 27
Views: 1194

Re: Bringing individual assets into joint account

I moved a multiple of what you are considering into a joint account, haven't given it a second thought. As for the comments about keeping inheritances and legacies on one or the other side of the family, that can still be accomplished (though less precisely). You don't need to decide things evenly ...
by FoolMeOnce
Tue May 15, 2018 5:33 pm
Forum: Investing - Help with Personal Investments
Topic: Bringing individual assets into joint account
Replies: 27
Views: 1194

Re: Bringing individual assets into joint account

Part of our goal is to get the separate assets from the person who dies first to our kids, so they don't have to wait for both of us to die. Just curious: how does help; why would they have to wait? They don't. They also get sizable gifts now, but not so much that they get "lazy". I meant how does ...
by FoolMeOnce
Tue May 15, 2018 5:09 pm
Forum: Investing - Help with Personal Investments
Topic: Bringing individual assets into joint account
Replies: 27
Views: 1194

Re: Bringing individual assets into joint account

I moved a multiple of what you are considering into a joint account, haven't given it a second thought. As for the comments about keeping inheritances and legacies on one or the other side of the family, that can still be accomplished (though less precisely). You don't need to divide things evenly i...
by FoolMeOnce
Tue May 15, 2018 5:05 pm
Forum: Investing - Help with Personal Investments
Topic: Bringing individual assets into joint account
Replies: 27
Views: 1194

Re: Bringing individual assets into joint account

celia wrote:
Tue May 15, 2018 4:46 pm
Part of our goal is to get the separate assets from the person who dies first to our kids, so they don't have to wait for both of us to die.
Just curious: how does help; why would they have to wait?
by FoolMeOnce
Mon May 14, 2018 10:17 am
Forum: Personal Consumer Issues
Topic: How to think about schools/homes (Greatschools/Niche)
Replies: 70
Views: 4866

Re: How to think about schools/homes (Greatschools/Niche)

Take Greatschools rating with huge lumps of salt. We have heard nothing but glowing things about the elementary school our kids will go to from anyone we come into contact with who sends their kids there. This is in an affluent neighborhood, yet with a student population that is diverse in many ways...
by FoolMeOnce
Sun May 13, 2018 9:19 am
Forum: Investing - Help with Personal Investments
Topic: About to fire advisor, lagging. Comments?
Replies: 17
Views: 1225

Re: About to fire advisor, lagging. Comments?

There are many reasons to leave an advisor (I did!); performance over six months is not one of them.
by FoolMeOnce
Sat May 12, 2018 1:39 pm
Forum: Investing - Help with Personal Investments
Topic: What would you do to lower our oversized emergency fund?
Replies: 35
Views: 3480

Re: What would you do to lower our oversized emergency fund?

BashDash wrote:
Fri May 11, 2018 11:55 am
130k in Merril Edge.
Mostly large cap stocks and 40% index funds. All future dividends going to index funds.
You can take the dividends for cash flow while increasing your tax-deferred contributions instead of reinvesting in taxable.
by FoolMeOnce
Fri May 11, 2018 10:05 am
Forum: Investing - Help with Personal Investments
Topic: Better to Sell Shares appreciated 10% for Short Term Gain or Shares appreciated 30+% for Long Term Gain?
Replies: 10
Views: 1110

Re: Better to Sell Shares appreciated 10% for Short Term Gain or Shares appreciated 30+% for Long Term Gain?

From The numbers you gave, it sounds like selling the short term assets will generate less of a tax hit (~$1660) than the long term assets (~$2300) to liquidate $50k. This will, in turn, use up less of your carried losses, allowing you to use more against your ordinary income. Huh? The way I read t...