Search found 53 matches

by gloss151
Sun Oct 15, 2017 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: You career roots and your path to financial independence. "Actionable: steps and tips for others?
Replies: 56
Views: 5362

Re: You career roots and your path to financial independence. "Actionable: steps and tips for others?

Get a degree or certification. Live below means. Make sure you are compensated above average for field, or make a change. My wife and I are 34 and have $1.1 net worth. We are both engineers. We live in a duplex, rent out the other half. We save $148k per year. Our income is $260k. We take advantage ...
by gloss151
Sun Oct 08, 2017 11:12 am
Forum: Personal Consumer Issues
Topic: Spouse gets blowouts? [Hair care]
Replies: 47
Views: 2255

Re: Spouse gets blowouts?

Actionably: A monthly "fun money" account might be a good idea.... or leave an envelope filled with 100 dollar bills on her dresser every month. We already have a pile of money in a box from the crap we sell on Craigslist, but perhaps I should slip a salon gift certificate in there from time to time.
by gloss151
Sun Oct 08, 2017 11:08 am
Forum: Personal Consumer Issues
Topic: Spouse gets blowouts? [Hair care]
Replies: 47
Views: 2255

Re: Spouse gets blowouts?

Does your wife work? If you are the sole income earner, it seems like she's spending foolishly (especially paying someone to blow dry her hair and $80 shampoos). I use 99 cents Suave and I get compliments on my soft hair all the time. I use make up from the dollar store and people often compliment ...
by gloss151
Sun Oct 08, 2017 11:02 am
Forum: Personal Consumer Issues
Topic: Spouse gets blowouts? [Hair care]
Replies: 47
Views: 2255

Re: Spouse gets blowouts?

OP, <<We bank $148k per year on $260k income, >> If you save enough, you can spend the rest. In your case, it is definitely the case. So, why worry about the tree in the forest? I save 30+% of my gross income. I just spent $1,700 on a folding electric bike. KlangFool We have achieved an extremely h...
by gloss151
Sun Oct 08, 2017 10:34 am
Forum: Personal Consumer Issues
Topic: Spouse gets blowouts? [Hair care]
Replies: 47
Views: 2255

Re: Spouse gets blowouts?

Does your wife work? If you are the sole income earner, it seems like she's spending foolishly (especially paying someone to blow dry her hair and $80 shampoos). I use 99 cents Suave and I get compliments on my soft hair all the time. I use make up from the dollar store and people often compliment ...
by gloss151
Sun Oct 08, 2017 10:31 am
Forum: Personal Consumer Issues
Topic: Spouse gets blowouts? [Hair care]
Replies: 47
Views: 2255

Re: Spouse gets blowouts?

I would suggest you live with it. It is a super small portion of your income and also of what you save. There are a lot of things my wife does that I don't understand, but they don't cost a lot, and they make her happy. If you say something, best case scenario is she is mad, worse case scenario is ...
by gloss151
Sun Oct 08, 2017 10:23 am
Forum: Personal Consumer Issues
Topic: Spouse gets blowouts? [Hair care]
Replies: 47
Views: 2255

Re: Spouse gets blowouts?

ceheaper than equestrian horses :shock: :moneybag Actionably: make a mutual budget or apportion "spending money" separately. A wise person once told me that one should never let your child within reaching distance of a horse, bc they will fall in love and you'll be paying stable fees for the next t...
by gloss151
Sun Oct 08, 2017 10:21 am
Forum: Personal Consumer Issues
Topic: Spouse gets blowouts? [Hair care]
Replies: 47
Views: 2255

Re: Spouse gets blowouts?

You just have to accept it and move on. Between deodorant and razors, I might spend $50/yr on hair/hygiene, my wife generally spends that much per week on her nails. Then there is the eyelashes and clothes or I'll come home one day and her hair is a different color. I simply don't understand, it's ...
by gloss151
Sun Oct 08, 2017 10:01 am
Forum: Personal Consumer Issues
Topic: Spouse gets blowouts? [Hair care]
Replies: 47
Views: 2255

Re: Spouse gets blowouts?

what was your agreement about these things before you got married? None. We just agreed we wanted kids and would have joint finances and a budget. After getting married we did collaborate on creating a financial strategy document, which has out savings rate/insurance strategy/ debt policies (no deb...
by gloss151
Sun Oct 08, 2017 9:55 am
Forum: Personal Consumer Issues
Topic: Spouse gets blowouts? [Hair care]
Replies: 47
Views: 2255

Re: Spouse gets blowouts?

Pajamas wrote:
Sun Oct 08, 2017 9:25 am

It sounds like a certificate for a day at the spa would make a thoughtful gift for her for a special occasion or even for no reason at all.
Excellent idea, perhaps I'll get one for her and a friend. This would really make her happy since she seems to really enjoy getting the pedi
by gloss151
Sun Oct 08, 2017 9:49 am
Forum: Personal Consumer Issues
Topic: Spouse gets blowouts? [Hair care]
Replies: 47
Views: 2255

Re: Spouse gets blowouts?

If it's affordable, forget it. Do you spend that much on something non-essential that interests you? (I thought you were going to ask about tire trouble...) We bank $148k per year on $260k income, it is very affordable. I need to forget it, or better yet follow advice of other posters, compliment /...
by gloss151
Sun Oct 08, 2017 9:12 am
Forum: Personal Consumer Issues
Topic: Spouse gets blowouts? [Hair care]
Replies: 47
Views: 2255

Spouse gets blowouts? [Hair care]

My spouse gets blowouts, which I'm probably oversimplifying but it is paying someone to dry your hair. $80 bottles of shampoo. Mani/peti spouse, pawdi for the dog. These are all things that provide value and enjoyment to my spouse. The total cosmetic maintenance cost is likely under $2k per year, de...
by gloss151
Sun Oct 08, 2017 7:51 am
Forum: Personal Consumer Issues
Topic: Too much house? (nervous 1st time buyer)
Replies: 57
Views: 3976

Re: Too much house? (nervous 1st time buyer)

Have you considered a duplex? Depending on where you are in the country, you may find something affordable that gives you a yard and basically covers your mortgage by renting out the other unit. I would not be in a rush to buy a house in the current market unless you are planning on living in the a...
by gloss151
Sat Oct 07, 2017 7:35 pm
Forum: Personal Consumer Issues
Topic: Tips on Uber
Replies: 77
Views: 7028

Re: Tips on Uber

A low rating on Uber is probably from soiling their car or being rude. Tips should be reserved for extraordinary service. If everyone tipped every ride, Uber would lower their fares (and drivers cut).
by gloss151
Fri Oct 06, 2017 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area Real Estate
Replies: 154
Views: 14156

Re: Bay Area Real Estate

Yes, millionaire next door metric. It's extremely flawed for people who invest a lot of money in their personal skill capital, like doctors, but it's a useful for the vast majority of people as a validator of prodigous accumulators of wealth or spendthrift Calvinists It's flawed because it uses "in...
by gloss151
Thu Oct 05, 2017 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area Real Estate
Replies: 154
Views: 14156

Re: Bay Area Real Estate

Yes, millionaire next door metric. It's extremely flawed for people who invest a lot of money in their personal skill capital, like doctors, but it's a useful for the vast majority of people as a validator of prodigous accumulators of wealth or spendthrift Calvinists
by gloss151
Wed Oct 04, 2017 8:13 pm
Forum: Investing - Help with Personal Investments
Topic: 2M savings investment help
Replies: 37
Views: 4953

Re: 2M savings investment help

Thanks for the detailed info. The 401k and private stock make it a bit tricky to keep fees down and take those into account for AA. I sell my stock grants as soon as I am able. I buy company stock at a discount and sell that once or twice a year after it goes long-term capital gains, to minimize fee...
by gloss151
Tue Oct 03, 2017 3:16 am
Forum: Investing - Help with Personal Investments
Topic: 30,000 in Checking Account
Replies: 136
Views: 21133

Re: 30,000 in Checking Account

Baxter credit union has power plus checking, which gives me 2% on up to 20k. Atm fees get subtracted from that 2%, if u use a fee atm. We just max that out and put everything extra in the taxable. 20k is > 6mo of spending for us since we have no debt and rent out the other half of our duplex. I can'...
by gloss151
Mon Oct 02, 2017 5:58 am
Forum: Personal Finance (Not Investing)
Topic: Two Comma Club
Replies: 17
Views: 4288

Re: Two Comma Club

Our household income is about 300K now, and 4 years ago it was about 180K. Thanks for this post. Books like millionaire next door can make one think owning a business is the only way to get your finances squared away. Reality is someone who is willing to seek out an above average salary using their...
by gloss151
Tue Sep 26, 2017 4:51 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 11025

Re: The Rolex and The Boglehead

I own a nice watch. It also monitors my fitness and heart rate. Love my Fitbit. :D I've owned many gps/hr monitor/step counting/abc mountaineering watches over the years. Fun to use them for a couple months, but the novelty quickly wears off, IMO. The one watch I wear today is a Timex Ironman watch...
by gloss151
Tue Sep 26, 2017 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area Real Estate
Replies: 154
Views: 14156

Re: Bay Area Real Estate

I feel like current Bay Area housing prices require 2 well educated professionals both work and contribute to the mortgage. It's harder to get ahead, but it can be done. 2 people in tech, 2 in medicine etc. However, I'm not sure that the current growth trends can continue. The past growth in housin...
by gloss151
Tue Sep 26, 2017 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Bay Area Real Estate
Replies: 154
Views: 14156

Re: Bay Area Real Estate

Rent until you can buy with cash, then decide what you want to do In the bay area that pretty much means renting forever. You are paying the equivalent of a very expensive mortgage anywhere else in the country for *rent*. Hoping in the meanwhile to amass 1M+ in cash to buy a house. Good luck with t...
by gloss151
Mon Sep 25, 2017 11:21 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area Real Estate
Replies: 154
Views: 14156

Re: Bay Area Real Estate

Rent until you can buy with cash, then decide what you want to do
by gloss151
Mon Sep 25, 2017 10:52 pm
Forum: Personal Finance (Not Investing)
Topic: Coworker asked me about a adviser
Replies: 24
Views: 3288

Re: Coworker asked me about a adviser

I sometimes get asked for advice, or someone will mention something about market timing which makes me cringe. I usually email these people the link to the boglehead video page rather than tell them they should manage their own 3 fund portfolio or avoid an advisor. I also recommend the boglehead inv...
by gloss151
Fri Sep 22, 2017 12:41 pm
Forum: Investing - Help with Personal Investments
Topic: I won the Lottery. Need sound advice.
Replies: 220
Views: 24045

Re: I won the Lottery. Need sound advice.

Fair enough. You automatically think of doubling up your efforts at your W-2 job to earn the extra $3K of income. I suppose that would be your only choice if you are heavily invested in mutual funds. I used real estate to create an extra $4K of income I needed for FI, and I've only been investing i...
by gloss151
Thu Sep 21, 2017 9:56 pm
Forum: Investing - Help with Personal Investments
Topic: I won the Lottery. Need sound advice.
Replies: 220
Views: 24045

Re: I won the Lottery. Need sound advice.

And biking to work only works if you live in a place that is >30°F year round, among other things. The average high for Dec, Jan, and Feb in Minneapolis is below 30F, and the morning bike is usually around 10F, on a balmy day. There are many bikers throughout the winter, afterall MPLS has 5% of com...
by gloss151
Thu Sep 21, 2017 8:25 pm
Forum: Investing - Help with Personal Investments
Topic: I won the Lottery. Need sound advice.
Replies: 220
Views: 24045

Re: I won the Lottery. Need sound advice.

The amount of self-righteous individuals on this thread is staggering. I read that book, nice read. But the stingy, live like a pauper mindset on MMM is not for everyone. It is damaging in my opinion. Soo much save this and that, don't travel, it's too expensive, don't drive a lot, don't eat out is...
by gloss151
Thu Sep 21, 2017 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: 30yr Mortgage Refi Rates
Replies: 16
Views: 2514

Re: 30yr Mortgage Refi Rates

Do the math on just making additional cost payments on your current mortgage. I once refinanced from a 15 to a 10, but any savings were eaten by closing costs and then we sold the place. The right decision in that scenario would have been to just pay a couple hundred extra into the 15yr per month.
by gloss151
Thu Sep 21, 2017 12:01 pm
Forum: Investing - Help with Personal Investments
Topic: I won the Lottery. Need sound advice.
Replies: 220
Views: 24045

Re: I won the Lottery. Need sound advice.

I immediately began researching what to do. OP, watch the bogle head videos from the homepage. They're great. Then read the bogelheads investing book, after which you can let your financial advisor collect fees elsewhere. Since your savings rate must have been atrocious, read Dave Ramsey "Total Mon...
by gloss151
Wed Sep 20, 2017 7:38 am
Forum: Personal Consumer Issues
Topic: Costco vs sams club vs neither.
Replies: 77
Views: 4586

Re: Costco vs sams club vs neither.

I dropped our Costco membership. It was more expensive than Aldi. The time wasted going in and out of Costco was more than I could bear. One typically needs to drive several miles to one, which is wasteful of your time, money, and has a negative environmental impact.
by gloss151
Tue Sep 19, 2017 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: Worth buying an excessive priced house?
Replies: 43
Views: 3991

Re: Worth buying an excessive priced house?

Mortgage would be about 3x with plenty in portfolio to easily cover if "disaster" strikes. I'd suggest just buying your next house with cash. Our values get thrown out of whack when we use debt to finance a residence. Also, I've been working 12 years and have 22x annual expenditures in savings and ...
by gloss151
Thu Sep 14, 2017 7:42 am
Forum: Personal Consumer Issues
Topic: Is it really Worth it to brown bag your lunch at work?
Replies: 313
Views: 18284

Re: Is it really Worth it to brown bag your lunch at work?

I just water fast until 6pm on weekdays. total cost $0. Prior to this radical lifestyle, i just grabbed a tin of sardines and an avocado before heading out the door in the morning, which is $2-3 worth of food. I think its worth it because you can waste a lot of time walking to a cafeteria, waiting f...
by gloss151
Wed Sep 06, 2017 1:27 pm
Forum: Personal Consumer Issues
Topic: Contemplating an Electric Car
Replies: 147
Views: 8955

Re: Contemplating an Electric Car

Use an electric bike. Save space. Park darn near anywhere. Get a bit of exercise to boot. And the environmental impact of building the bike and recycling the batteries is far less than a car. For small trips use a Segway by Ninebot and take it on the bus with you. I have an 18 mile commute, and so ...
by gloss151
Wed Sep 06, 2017 10:58 am
Forum: Personal Consumer Issues
Topic: Contemplating an Electric Car
Replies: 147
Views: 8955

Re: Contemplating an Electric Car

Consider a bike :happy Kidding aside, the choice to make a trip has a cost. If by bicycling, we take shorter journeys, that has a benefit. Above and beyond the benefits to ourselves. When one buys groceries via bike, what ends up in the shopping cart ends up changing as well. Specifically, I no lon...
by gloss151
Wed Sep 06, 2017 10:22 am
Forum: Personal Consumer Issues
Topic: Contemplating an Electric Car
Replies: 147
Views: 8955

Re: Contemplating an Electric Car

Use an electric bike. Save space. Park darn near anywhere. Get a bit of exercise to boot. And the environmental impact of building the bike and recycling the batteries is far less than a car. For small trips use a Segway by Ninebot and take it on the bus with you. I have an 18 mile commute, and so ...
by gloss151
Tue Sep 05, 2017 8:45 pm
Forum: Personal Consumer Issues
Topic: Contemplating an Electric Car
Replies: 147
Views: 8955

Re: Contemplating an Electric Car

Consider a bike :happy
by gloss151
Tue Sep 05, 2017 8:43 pm
Forum: Personal Consumer Issues
Topic: Name something you had to have and now you regret purchasing it?
Replies: 275
Views: 24186

Re: Name something you had to have and now you regret purchasing it?

Ebike. I'm not lazy enough or in that much of a hurry to use it. Once someone finally buys it off Craigslist tho we'll be down to two bikes and one car for the two of us
by gloss151
Tue Aug 29, 2017 12:47 pm
Forum: Investing - Theory, News & General
Topic: [Bitcoin] question
Replies: 125
Views: 8914

Re: Bit Coin question

I remember hearing about bitcoin on Planet Money when it was worth less than a dollar per bitcoin. There are 16.5 million bitcoin around today. The algorithm will peak at 21 million at which point no more can be mined. It's not very cost effective to mine the coin unless you are generating it very c...
by gloss151
Tue Aug 29, 2017 11:25 am
Forum: Investing - Help with Personal Investments
Topic: 33 years old, how am I doing ?
Replies: 54
Views: 8207

Re: 33 years old, how am I doing ?

Perhaps 2/3 or even 1/2 full time hours to help with stress/burnout. Jaferd- I recently listened to a podcast on mad fientist about a physician who made the difficult decision to cut back on his hours. you may find it interesting: http://www.madfientist.com/the-happy-philosopher-interview/ . The gu...
by gloss151
Wed Aug 23, 2017 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: I did it and feel great about it (paid off mortgage)
Replies: 53
Views: 5796

Re: I did it and feel great about it (paid off mortgage)

Congrats. I paid off our duplex in May. It was exciting the weeks before, but sending in the final check was about as anti climactic as the solar eclipse on a cloudy day. Next goal would be to have 4% rule exceed expenses, but we're already there in our early thirties. I may just have to find a purp...
by gloss151
Wed Aug 23, 2017 8:22 pm
Forum: Investing - Help with Personal Investments
Topic: 33 years old, how am I doing ?
Replies: 54
Views: 8207

Re: 33 years old, how am I doing ?

I'm same age, I do: Age-10 in bonds (VBMPX total bond) Rest in stocks (30% Int VTIAX / 70% Total US) I recently made the decision to drop bond TIPS and to not do REITs. I rebalance quarterly, let me know if u want to see the google spreadsheet i use. I'm glad to see you manage your own portfolio, as...
by gloss151
Thu Aug 10, 2017 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Struggling with Justifying an Expensive Car Purchase
Replies: 120
Views: 6407

Re: Struggling with Justifying an Expensive Car Purchase

https://radicalpersonalfinance.com/356/ Listen to this radical personal finance podcast on the merits of a minivan, its really great and I always recommend our younger engineers at work get a minivan to stave off spendthrift women. I don't own a car, but my wife does and if we were to replace her CR...
by gloss151
Thu Aug 10, 2017 8:15 pm
Forum: Investing - Theory, News & General
Topic: 4% Rule has changed.....not
Replies: 80
Views: 8552

Re: 4% Rule has changed.....not

If I'm lucky enough to celebrate my 110th birthday, I won't care much if I'm broke. If one lives to 110, odds are we've made tremendous advances in reversing aging. If you're 110 and feel like you're 20, you will likely want to have enough money to enjoy your new youth. Also, the wealthy will be th...
by gloss151
Thu Aug 10, 2017 7:49 pm
Forum: Personal Consumer Issues
Topic: Trip Cancellation Insurance.
Replies: 37
Views: 2687

Re: Trip Cancellation Insurance.

We recently booked a 7 week vacation through homeaway. Home away offers trip insurance . AAA does too and we are wondering if any credit cards offer it too.BH travelers,. What do you use? Chase Sapphire Reserve offers some for free. See here https://www.chase.com/card-benefits/sapphirereserve/trave...
by gloss151
Thu Aug 10, 2017 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: I pay $6K in rent. Am I an idiot for not buying?
Replies: 50
Views: 6684

Re: I pay $6K in rent. Am I an idiot for not buying?

I want to point out that the 1% thing IS NOT intended at a rent vs buy calculation Thanks J. I didn't know the the 1% rule of thumb was influenced by mortgage rates so I appreciate that insight, though as you say probably shouldn't be used when comparing renting/buying. Selling a property can cost ...
by gloss151
Wed Aug 09, 2017 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: I pay $6K in rent. Am I an idiot for not buying?
Replies: 50
Views: 6684

Re: I pay $6K in rent. Am I an idiot for not buying?

No, you are brilliant for not buying. $6k per month in rent seems extremely reasonable. A rule I loosely follow is that an investment property needs to return 1% of the value per month in rent, which is $15k/mo in rent if the flat is worth $1.5m. I'd avoid buying. You have a higher than typical inco...
by gloss151
Fri Jun 02, 2017 10:00 am
Forum: Personal Consumer Issues
Topic: Do I deserve it? [A new car]
Replies: 69
Views: 6058

Re: Do I deserve it? [A new car]

Before you buy a car, rent an apartment, or buy a house, educate yourself on the true costs of where you live and how you get around. I recently stopped driving, opting to bike and bus to work and cost savings are substantial, from 3700 per year to 1k. If my car was worth more than 3.5k, like your 3...
by gloss151
Thu Jun 01, 2017 9:16 pm
Forum: Personal Consumer Issues
Topic: What Do You Pay for an Oil Change?
Replies: 129
Views: 9341

Re: What Do You Pay for an Oil Change?

To lube the chain its maybe $.10 or perhaps double that if using a dry ptfe lube. I lube the drivetrain every 3 weeks or so. Every month or two I'll use a quarter of a can of break cleaner to completely clean the bikes cassette and chainrings. This is for a 20 year old dura ace drive train.
by gloss151
Mon May 29, 2017 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Not Another Payoff The Mortgage Thread....
Replies: 38
Views: 4586

Re: Not Another Payoff The Mortgage Thread....

I floated the idea of downsizing because that would be one mechanism (albeit 6% fee way) to pay off the debt. That's assuming the current residence is a 2000+ sqft american dream home. Seems like many families on this planet get by with less than 300sq/ft per person. Currently our tenants have two k...
by gloss151
Sun May 28, 2017 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: When does Saving become missing out on life?
Replies: 74
Views: 9190

Re: When does Saving become missing out on life?

I'm also 33 and am in the same boat as you, trying to pinch every penny after reading frugality blogs/books and paying off the mortgage. I recently felt guilty for buying a plane ticket for a friend from college's bachelor party, but since it is money to be with friends it is money well spent. Simil...