Search found 228 matches

by SeaToTheBay
Thu Dec 01, 2022 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: Unique Home Situation: Stay Put, Rent, or Buy?
Replies: 43
Views: 3842

Re: Unique Home Situation: Stay Put, Rent, or Buy?

Watty wrote: Thu Dec 01, 2022 4:57 pm
SeaToTheBay wrote: Thu Dec 01, 2022 1:53 pm The ~12-13hrs/wk of driving is somewhat split between my wife and I, although since she's generally busier and in more meetings it's more like 70/30. I am a car nut so I mind driving less than the average person, but that doesn't mean it's still not a waste of time that could be spent in better ways.
The bigger problem is that your kid is sitting in the car 12-13 hours a week.
Technically only half that because when we're going home from drop-off or back to school for pickup, he's not with us. But yes, on certain days when we have to wake him up vs. letting him sleep a bit more, or he falls asleep on the way home, I feel bad.
by SeaToTheBay
Thu Dec 01, 2022 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Unique Home Situation: Stay Put, Rent, or Buy?
Replies: 43
Views: 3842

Re: Unique Home Situation: Stay Put, Rent, or Buy?

Speaking from experience with a child that required lots of therapy that also required travel, and whose entry into both pre-school and kindergarten was challenging. The advice to make the choice as if money didn't matter (within reason) was the best on this thread. You value: your time, your spouse's time, the school, the therapists, and proximity to family. Those are good priorities. You are already a multimillionaire. The value of your housing deal should take a far, far backseat to all of this. If you are like me, your desire to spend time with your child will only increase as they get older. While everything you are giving right now is extraordinarily important to your child's development, they won't remember any of it. Focus your cho...
by SeaToTheBay
Thu Dec 01, 2022 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Unique Home Situation: Stay Put, Rent, or Buy?
Replies: 43
Views: 3842

Re: Unique Home Situation: Stay Put, Rent, or Buy?

Since the school seems to be non-negotiable, I would simply move. I bet you can find a stand-alone house (rather than the townhouse you are in now) within 20 minutes of the school for ~$2m. Yes, it might need work. It doesn't need to be the $3m+ one across the street from the school. With those home prices I'm sure the public schools are considerably better than where you are now, and living closer to the Montessori, you will not feel pressure every day even if you decide to keep your child there until grade 8. Yes, it's a lot of money, but you should be able to easily afford it and the quality of life improvement will be substantial for years. Unless you are terribly unlucky, you will simply be temporarily transferring some of your wealth...
by SeaToTheBay
Thu Dec 01, 2022 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Unique Home Situation: Stay Put, Rent, or Buy?
Replies: 43
Views: 3842

Re: Unique Home Situation: Stay Put, Rent, or Buy?

tashnewbie wrote: Thu Dec 01, 2022 12:18 pm OP, if you decide to put your son in public school in a couple years, do you know with any reasonable certainty that you'd want a different school district than the one you're currently in?

Do you have any idea what your plan would be then? I assume you'd have to move.
Yes, the public schools where we are now are good but not great - we would likely want to move. The district that surrounds my son's current private school is very good, although quite competitive so not completely sure if it would be a good fit for him.
by SeaToTheBay
Thu Dec 01, 2022 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Unique Home Situation: Stay Put, Rent, or Buy?
Replies: 43
Views: 3842

Re: Unique Home Situation: Stay Put, Rent, or Buy?

It seems like the OP wants their cake and eat it too. You have to make comprises. It helps that the OP is extraordinarily wealthy but they want to retire early, keep their kids great school, not want the long drive to the great school, and not lose the financial benefit of their current house. Guess what? Something's got to give....you can't have it all. If I had that kind of income, I would cut the check(s) and make it work. That's what we do. We send one kid to a top private school because it fits their needs better....it costs a decent chunk of change and it's a farther drive....but WE SACRIFICE TO MAKE IT WORK. If I was the OP, I would either rent an apartment close to the school and stay there a few days a week and/or I would hire a c...
by SeaToTheBay
Thu Dec 01, 2022 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Unique Home Situation: Stay Put, Rent, or Buy?
Replies: 43
Views: 3842

Re: Unique Home Situation: Stay Put, Rent, or Buy?

I would consider finding a co-working space (or maybe a room in a house with good WiFi) near the school. Work there all day, and then the commute is reduced to one R/T per school day. This. I was also going to suggest this. This cuts down your driving by half. And really, if it's 55-min RT that means, ~20-30 one way. That's not too bad at all. That's our commute basically. Do this for at least one year or two, then evaluate. Your kid's needs may change. School situation may change. There could be other school nearby, etc etc. I'm thinking more about doing this using the corporate office I mentioned that's 12-15min away. That would save 30-40min total. There are 3 days/wk where due to therapy I need to drop him off at school during lunch ho...
by SeaToTheBay
Thu Dec 01, 2022 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Unique Home Situation: Stay Put, Rent, or Buy?
Replies: 43
Views: 3842

Re: Unique Home Situation: Stay Put, Rent, or Buy?

:shock: Nobody knows your situation, but geez...In a slightly similar position we paid my MIL more than full-time local childcare to watch our kids 3-days a week (with us providing food and everything else), not because we preferred it, but because she refused to work, but they needed financial help and that is the only way we could justify giving them money. She never had a child seat (let alone two) and she watched them for 2 years - that never bothered me, as she could borrow ours if needed. IMO, this part of your post comes off as SUPER judgmental. You're right that no one knows our situation. My MIL had her mother raise her daughter alone halfway across the world for 13 years, never visiting once and never providing any financial assi...
by SeaToTheBay
Thu Dec 01, 2022 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Unique Home Situation: Stay Put, Rent, or Buy?
Replies: 43
Views: 3842

Re: Unique Home Situation: Stay Put, Rent, or Buy?

Also consider what that will be like when the weather is bad especially if you live somewhere where there is snow or ice. Where I live it is not unheard of for schools to announce that the weather is worse than expected so they are closing early so you need to come and pick up your kid. In an area that never gets snow/ice so not a factor. Raining hard today but doesn't seem to have affected traffic much. You mention MIL and Grandmother live nearby and MIL would have to find a new job if you moved to stay near you (At least that's how I read it). How much does your MIL make? The $4000+ cost to move is expensive. What if you agreed to pay/support your MIL to help transport to school and therapies? Slippery slope mixing family and pay but tru...
by SeaToTheBay
Wed Nov 30, 2022 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Unique Home Situation: Stay Put, Rent, or Buy?
Replies: 43
Views: 3842

Re: Unique Home Situation: Stay Put, Rent, or Buy?

Thanks all - some great perspective and out-of-the-box ideas. I think what really hit home is the time = money and health concept. We are aggressive savers (sometimes it doesn't feel like it since we max 401k, HSA, after-tax 401k to Roth conversion, and don't sell RSUs although we'll be switching to quick-sale this year), but that leaves room to increase certain expenses - even by a lot - if it means better quality of life for all of us. Just hard to give up a place that's so relatively inexpensive, yet nice. The first rental house I toured was across the street from the school... but literally more dated than the places I lived in college and grad school. According to Redfin that day, it was worth $3.9MM at 1,5xx sq ft. :shock: On renting:...
by SeaToTheBay
Tue Nov 29, 2022 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: Unique Home Situation: Stay Put, Rent, or Buy?
Replies: 43
Views: 3842

Re: Unique Home Situation: Stay Put, Rent, or Buy?

Time is money. No way I would spend up to 3h a day ferrying a child to preschool. I highly doubt there is not another school with similar quality that is closer. Can you move to a lower COL area since you both work remotely? You would think so, but we're in a bit of a unique situation in a couple of ways. This school uses the Montessori method, which seems to really fit our son's unique strengths and weaknesses. Tons of schools claim to follow Montessori but are mostly "inspired" by it and don't really follow the theory much at all. They also tend to end at age 4-5 while this school goes through 8th grade and is starting a high school this year. At least at this stage, I think he would really struggle in a more traditional, group...
by SeaToTheBay
Tue Nov 29, 2022 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Unique Home Situation: Stay Put, Rent, or Buy?
Replies: 43
Views: 3842

Re: Unique Home Situation: Stay Put, Rent, or Buy?

Yes, son just started school after Labor Day. Renting out our current home while we rent somewhere else is on the table. Reasons I'm not terribly excited about that are 1) the rent would only break even with our cost, 2) this is speculation, but I'm not optimistic about housing values over the next year or two - I would be okay if it just stayed the same, 3) laws here are extremely tenant-friendly so I worry about getting stuck with a problem tenant, and 4) HELOCs and cash-out refis are getting harder to find and more expensive if we do decide to buy something. We could potentially sell taxable investments for a down payment and keep our current home indefinitely as a rental, but I was a landlord of my old condo unit for 9 years and I'm not...
by SeaToTheBay
Tue Nov 29, 2022 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Unique Home Situation: Stay Put, Rent, or Buy?
Replies: 43
Views: 3842

Unique Home Situation: Stay Put, Rent, or Buy?

My wife and I have owned our townhouse for 6 years in a VHCOL area. Paid $825k, worth $1.1-1.2M, and we owe $580k. We have 30-yr fixed at 2.99%, so our price x rate is dirt cheap relative to buying anything else right now. The space is feeling slightly cramped lately with all of my son's "stuff", but we like it overall (was new construction). Our preschool-age son has some unique learning challenges, but is doing well at a school that is very dedicated to the Montessori method, which we think really benefits him. We believe this school is truly one-of-a-kind and that this is the right place for him, at least until he reaches Kindergarten age, at which point we'll know more about where he's headed with his learning accommodations a...
by SeaToTheBay
Thu Jan 06, 2022 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 4273
Views: 1072390

Re: Share your net worth progression

2006: 47k. Graduated college, bought condo 50/50 with parents (bad timing, good location - still have it and renting out). Had saved all money from birthdays, Christmas, etc. since I was 5, mutual fund since 10, usually $300/mo from HS/college side jobs into a Roth IRA. My parents set me up well with regards to a saving mindset! :) 2007: 81k (age 23, first full year of employment, four-figure college debt due to parents' help, working during college, and low in-state tuition) 2008: 89k (saved 39k and lost 40k in investments... like pouring water into a strainer :x ) 2009: 109k 2010: 164k 2011: 157k (started full-time MBA) 2012: 72k mid-2013: 56k (graduated MBA along with now-wife, started work again, 110k in student loans :| ) 2013: 95k 201...
by SeaToTheBay
Thu Jan 06, 2022 1:18 pm
Forum: Personal Consumer Issues
Topic: Don't pay full price for SiriusXM radio
Replies: 649
Views: 112415

Re: Don't pay full price for SiriusXM radio

Que1999 wrote: Wed Jan 05, 2022 8:22 pm I got the $5.99 monthly price for good a couple weeks ago when I chatted them up online to cancel. They basically offered me this promo price without having to call to reinstate it every 6 months, which I have done consistently probably for the last 5 years or so. Needless to say, I jumped on it as I was reassured the price would never increase from the $5.99 price as long as I didn't call to cancel...

I'll take it! :beer
Thanks for this! Went from $21.84 w/taxes to like $8.50. Just took a couple minutes via online chat and good for 12mos. One of the easiest $160 savings I've ever gotten :happy
by SeaToTheBay
Thu Nov 04, 2021 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 4273
Views: 1072390

Re: Share your net worth progression

2006: 47k. Graduated college, bought condo 50/50 with parents (bad timing, good location - still have it and renting out). Had saved all money from birthdays, Christmas, etc. since I was 5, mutual fund since 10, usually $300/mo from HS/college side jobs into a Roth IRA. My parents set me up well with regards to a saving mindset! :) 2007: 81k (age 23, first full year of employment, four-figure college debt due to parents' help, working during college, and low in-state tuition) 2008: 89k (saved 39k and lost 40k in investments... like pouring water into a strainer :x ) 2009: 109k 2010: 164k 2011: 157k (started full-time MBA) 2012: 72k mid-2013: 56k (graduated MBA along with now-wife, started work again, 110k in student loans :| ) 2013: 95k 20...
by SeaToTheBay
Thu Nov 04, 2021 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 4273
Views: 1072390

Re: Share your net worth progression

2006: 47k. Graduated college, bought condo 50/50 with parents (bad timing, good location - still have it and renting out). Had saved all money from birthdays, Christmas, etc. since I was 5, mutual fund since 10, usually $300/mo from HS/college side jobs into a Roth IRA. My parents set me up well with regards to a saving mindset! :) 2007: 81k (age 23, first full year of employment, four-figure college debt due to parents' help, working during college, and low in-state tuition) 2008: 89k (saved 39k and lost 40k in investments... like pouring water into a strainer :x ) 2009: 109k 2010: 164k 2011: 157k (started full-time MBA) 2012: 72k mid-2013: 56k (graduated MBA along with now-wife, started work again, 110k in student loans :| ) 2013: 95k 20...
by SeaToTheBay
Tue Jul 13, 2021 4:17 pm
Forum: Personal Consumer Issues
Topic: Tesla Model Y Ride + Quality
Replies: 207
Views: 28853

Re: Tesla Model Y Ride + Quality

lightheir wrote: Tue Jul 13, 2021 11:00 am Note that they are NOT saying the Mach-E is a better car than the Teslas. Not in the slightest.
Except they did: https://www.caranddriver.com/reviews/co ... -compared/
by SeaToTheBay
Tue May 11, 2021 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: What are some places where I can work 1-day per week on the weekends?
Replies: 40
Views: 7398

Re: What are some places where I can work 1-day per week on the weekends?

If you have an interest in cycling, get a job at a bike shop. In HS and college I was a bike mechanic and we had to work one weekend day for obvious reasons.

It was a lot of fun hanging out with free-spirited co-workers while tinkering with bikes, and usually you get a discount from bike manufacturers that's actually a % off wholesale prices. Back in 2001 I got a bike which retailed for $1,900 and only paid $950. Then I customized it to my liking, selling the "stock" parts I didn't want and buying what I wanted with the discount. Best part-time "fun job" I could have asked for.
by SeaToTheBay
Thu Apr 08, 2021 1:30 pm
Forum: Investing - Theory, News & General
Topic: How long to turn 1 million to 2 millions for you?
Replies: 104
Views: 51563

Re: How long to turn 1 million to 2 millions for you?

For us it took exactly 2 years - just hit $2M portfolio on Monday. Saving a lot and investing a lot, plus ~$140k windfall from selling a rental property and a car in 2020.

NW took just over 3 years to go from $1M to $2M.
by SeaToTheBay
Wed Apr 07, 2021 4:35 pm
Forum: Personal Investments
Topic: Taxable account, early retirement, and profits
Replies: 3
Views: 1142

Re: Taxable account, early retirement, and profits

I'm doing something somewhat similar. I have 20% in my taxable "trading" account, similar to your high risk/high reward, ST gain account. We're also in the 50+% fed + state marginal tax bracket. My view is that the "trading" portfolio is risky so if there's losses, I want to use it for TLH harvesting. If you feel like you can be fairly confident on substantial gain on the high risk portfolio then go ahead move it to tax advantaged account but otherwise I would suggest to stay in taxable. We haven't facing any adversity in the market over the last 10 months, wait until there's very substantial volatility like March 2020 or 2008 or 2000 before you can be confident of your trading strategy (remember backtesting don't alway...
by SeaToTheBay
Tue Apr 06, 2021 6:17 pm
Forum: Personal Investments
Topic: Taxable account, early retirement, and profits
Replies: 3
Views: 1142

Taxable account, early retirement, and profits

Quick intro: -Wife and I are mid-30s with a 2-year-old, no plans to have another (but he's great) -Goal to retire mid-40s -High income in HCOL = high marginal tax bracket -$2.5M NW ($2.0M portfolio + $500K in home) 50% / $1M of our portfolio is in 401k/HSA (all index funds) and wife's company stock (taxable). Other 50% / $1M is split about 60/40% between Taxable and Roth/Rollover IRAs My strategy has been to put funds and more conservative individual stocks (many paying dividends) into the Roth/Rollover, and using Taxable accounts for higher risk/reward funds and stocks (I know, not very Boglehead-ish). My main question is if I'm approaching this correctly. Over the past 10 months I have developed a leveraged ETF trading strategy (again, no...
by SeaToTheBay
Thu Jan 21, 2021 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Millionaire kids: Do your parents know you’re rich?
Replies: 54
Views: 6403

Re: Millionaire kids: Do your parents know you’re rich?

My parents know my wife and I are doing well, but I bet they would be pretty amazed to hear just how much we make, how much we save, how much we have invested and how early we're aiming to retire.

Frankly all of these things have surprised me as well - never would have guessed we'd be in this position without some unexpected windfall. Wish I could share a bit more with my parents without "showing off" as I think they would be proud and happy for us. I feel like particularly in the U.S. we are a little bit too cagey about finances.
by SeaToTheBay
Tue Jan 19, 2021 7:07 pm
Forum: Personal Consumer Issues
Topic: Paging BH Gearheads: Reasonable Net Worth for Exotic
Replies: 153
Views: 16747

Re: Paging BH Gearheads: Reasonable Net Worth for Exotic

To my mind, the niche market for exotics is someone who (a) wants the feel of a high-performance car on the street, (b) has tons of money and doesn't care about parting with a chunk of it, and (c) wants to advertise their wealth, or is at least indifferent to advertising their wealth. I think it can also just be d) fulfilling a lifelong dream. Similar to how some people always want to visit Italy/France/_____, some people always want that sleek, low, exotic car they had on their bedroom wall when they were a kid. You saw it a few years ago with '70s muscle cars, and you're seeing it more now with the Japanese sports cars that were popular in the '90s. Supercars are kind of the upper echelon of that. Even though I think new supercars are to...
by SeaToTheBay
Tue Jan 19, 2021 7:00 pm
Forum: Personal Consumer Issues
Topic: Paging BH Gearheads: Reasonable Net Worth for Exotic
Replies: 153
Views: 16747

Re: Paging BH Gearheads: Reasonable Net Worth for Exotic

I like the "5% of NW" metric for all cars in the household, and could maybe stretch it upward a bit as NW increases. It really depends though. Buying a brand new $300k exotic car and trading it on another one every year or two could very easily cost you $100k incl. taxes each time you trade, and there are a LOT of people who fit that bill (including leasing). Whereas buying something that likely won't depreciate much, if at all (911 GT3 w/manual transmission for instance) might not cost you much more than the opportunity cost of investing that money. The guy I sold my last car to (a mere BMW M3) has a Ferrari F430 w/manual trans he bought 6 years ago for just over $100k, and a virtually identical one incl. miles just sold on Bring...
by SeaToTheBay
Wed Dec 09, 2020 7:29 pm
Forum: Personal Consumer Issues
Topic: Economics of CFH (coffee from home)
Replies: 35
Views: 3241

Re: Economics of CFH (coffee from home)

I'd recommend going to Costco and getting the Kirkland Signature 100% Colombian Coffee. It's already ground and comes in a 3lb can for about $12, so $4/lb and although I'm not a coffee snob, it tastes quite good to me.

Before WFH, my wife would have a Keurig K-cup coffee in the morning before going to work, while I almost always waited until after work. Now that we work from home, we got a $20 coffee maker and brew at home. The cost difference is pretty big. Even buying K-cup pods at Costco, the cost for Keurig was roughly $0.50/cup vs. drip coffee maker is closer to $0.20 by my calculations.

Occasionally we splurge on a Nespresso at $0.70/cup, lol. Never understood those who buy $5 Starbucks every day - sometimes multiple times per day!
by SeaToTheBay
Fri Dec 04, 2020 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Commuting after COVID
Replies: 133
Views: 10531

Re: Commuting after COVID

I have so much to say about this topic, but the one thing I haven't seen mentioned here is for the times we do have to go back in the office, traffic should be far less gridlocked, which I'm looking forward too. Before, even on Fridays traffic would be far better just because maybe 10-15% of people were not going to the office. If companies on average request employees to be in the office 3 days out of the week, that's still a ~40% reduction (speaking of office jobs only).
by SeaToTheBay
Fri Nov 20, 2020 2:00 pm
Forum: Personal Consumer Issues
Topic: Should I buy a new BMW X3?
Replies: 37
Views: 4369

Re: Should I buy a new BMW X3?

If you can get used to the infotainment controls, I'd give the Acura RDX a shot. Can get similar performance and features as the X3 for many thousands less.
by SeaToTheBay
Thu Nov 19, 2020 10:46 am
Forum: Personal Consumer Issues
Topic: Long time retirees: any regrets?
Replies: 216
Views: 31214

Re: Long time retirees: any regrets?

I'm only 36 and have a 19-month old son (no plans to have more, although he is great!), but have a good amount saved and aiming to retire by 50, but hopefully closer to 45. Wife and I both dislike work, and especially for her it adds a lot of stress, frustration, and anxiety - her job pays 50% more, but is at least 50% more work and aggravation. I feel fortunate that we should hopefully be able to have many good years retired. One thing I worry about is a chasm in interests between her and I. We enjoy just being together doing nothing in particular, but I have always had more hobbies/interests than time to explore them, while she has few hobbies and close personal relationships. She also has anxiety and doesn't like being apart from me, so ...
by SeaToTheBay
Fri Aug 28, 2020 4:12 pm
Forum: Personal Consumer Issues
Topic: Any car enthusiasts? (or soon to be)
Replies: 142
Views: 12439

Re: Any car enthusiasts? (or soon to be)

DetroitAvant wrote: Fri Aug 28, 2020 2:44 pm
SeaToTheBay wrote: Fri Aug 28, 2020 11:04 am Not a bad idea. I'd like something maybe a little bigger than my M3 though - one of the bummers about the Alfa (especially the trunk).

I'd be all over the Civic Type R but the juvenile styling is a huge turn-off. I actually don't even mind how it looks *to me* but can't deny that I don't like how it looks to others...
Golf R? Less juvenile looking than the GTI (which is the one I own).
I like the GTI, just seems a little smaller than I'd like. I'm pretty sure the Civic hatch is bigger inside, but not certain.
by SeaToTheBay
Fri Aug 28, 2020 11:04 am
Forum: Personal Consumer Issues
Topic: Any car enthusiasts? (or soon to be)
Replies: 142
Views: 12439

Re: Any car enthusiasts? (or soon to be)

I'm a manual-trans die-hard (have never owned a car without one) but have pretty much accepted that my E90 M3 will likely be my last manual daily driver. Not because I dislike driving a manual in traffic, but they just don't make much of anything with 4 doors and a manual anymore that's more fun than that car. Newer M3 didn't do it for me. STi? I know it's very different from a BMW. More a tin can AWD version of a Mustang GT. Lots of performance for little money and zero refinement. Not a bad idea. I'd like something maybe a little bigger than my M3 though - one of the bummers about the Alfa (especially the trunk). I'd be all over the Civic Type R but the juvenile styling is a huge turn-off. I actually don't even mind how it looks *to me* ...
by SeaToTheBay
Thu Aug 27, 2020 6:31 pm
Forum: Personal Consumer Issues
Topic: Any car enthusiasts? (or soon to be)
Replies: 142
Views: 12439

Re: Any car enthusiasts? (or soon to be)

In a year or so when I expect to need a sedan to drive to work/daycare again, I'm going to have a great dilemma: -Keep the Lotus and blow the whole car fund on something like a 2018 AMG E63S wagon? -Get something a bit more reasonable (Alfa Giulia QV or Tesla Model 3 Performance) and keep some invested? -Get a cheap reliable daily and replace the Lotus with an F430 Spider? -Replace everything with a Ferrari FF? Life is short... -Get a boring daily and keep as much as possible invested for as long as I can resist temptation? I'm in a similar predicament as you. Want a sporty, luxurious family hauler. I'm a manual-trans die-hard (have never owned a car without one) but have pretty much accepted that my E90 M3 will likely be my last manual da...
by SeaToTheBay
Thu Aug 27, 2020 5:51 pm
Forum: Personal Consumer Issues
Topic: Any car enthusiasts? (or soon to be)
Replies: 142
Views: 12439

Re: Any car enthusiasts? (or soon to be)

I'm a huge car enthusiast in my mid-30s, and other than my very first car (Acura Integra owned for 13 years and modded/autocrossed a ton) I've actually made money overall on cars since. Cars since then have been BMW E39 M5 (sold for $5k+ profit), Honda S2000 (sold for $900 profit) and E90 M3 (just sold this month since it wasn't getting driven for $2k loss, not bad for being my daily driver for 4 years). Currently have a Lotus Elise, and those haven't depreciated in about a decade. If you're smart about it and don't require the latest and greatest, you can have some pretty awesome cars while spending less than folks who get a new Honda Accord every 4 years. 3 years ago my wife was cool enough to propose the idea of a "fun car fund"...
by SeaToTheBay
Mon May 04, 2020 7:14 pm
Forum: Personal Consumer Issues
Topic: Spending advice for younger kids?
Replies: 13
Views: 1498

Re: Spending advice for younger kids?

Growing up, my parents would double any money I put into savings and didn't touch (like a 401k match if you will). Taught me not only good habits (I save a huge chunk of income and don't think to spend unexpected bonuses) but also set me up with a decent chunk of change by the time I reached college.
by SeaToTheBay
Thu Apr 23, 2020 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on buying a weekend car [UPDATE]
Replies: 91
Views: 6902

Re: Advice on buying a weekend car

I currently own a Lotus Elise and an E90 M3 sedan for kid hauling and daily driving - adore them both. Also owned an S2000 for 3.5yrs and my mom has a 987.1 Cayman. My suggestion would be to go for it, but something that's cheaper and/or depreciates less. Building up that down payment is going to be a long process, and $35k + expenses of a second car will take a big chunk out of savings. Your retirement savings are good, but with your cash/taxable savings it will take a while to build up that down payment while keeping an emergency fund. A 981 Boxster will continue depreciating a fair amount more. Why not get a previous-generation 987 Boxster and have 90% the same car for 2/3rds the price? Or spend even less on an S2000 and get lower deprec...
by SeaToTheBay
Thu Apr 23, 2020 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: Afford 800K forever home w/ 600K mortgage?
Replies: 17
Views: 2989

Re: Afford 800K forever home w/ 600K mortgage?

One thing I haven't seen mentioned is the condition of the house, and any HOA fees. When we bought our townhouse in 2016 with similar mortgage but somewhat higher income, what helped us get comfortable with the purchase is the fact we were buying new construction with a warranty. Sure, things can still go wrong, but we're not likely to need a new roof, mold repair, etc. Those things can add up quickly and make a major dent in your savings/budget, even if it's not an "old" home.
by SeaToTheBay
Wed Feb 19, 2020 4:42 pm
Forum: Personal Consumer Issues
Topic: [Chromebook recommendation]
Replies: 39
Views: 2651

Re: Chromebook

We got one about 2yrs ago for $230 (fairly large screen - 15" I think?) and it's our main computer at home for all things on the web. It's pretty quick and does the job, would recommend. Particular starting/waking up, it's much faster than a Windows computer with a standard disk hard drive.
by SeaToTheBay
Tue Feb 18, 2020 5:05 pm
Forum: Personal Consumer Issues
Topic: What do you/did you spend your bonus on?
Replies: 109
Views: 10524

Re: What do you/did you spend your bonus on?

2013-2017, they went to my student loans. Currently, my bonus is targeted at 45% of my base salary, and my wife's is 20%. Historically little deviation from that target. We save it all (split between 401k and taxable) except for 15% of mine (gross) goes into a separate taxable account for my "fun car" (50% of my incremental base salary raises also go as a one-time contribution to the same account). I have invested this account most aggressively since it is "play money", and it has done extremely well (99.8% gain last year!). I now have my fun car and a good portion invested to fuel my dreams of other fun cars and to cover the running costs of the current one. Wife doesn't spend any of it. And the fun car fund was her ide...
by SeaToTheBay
Tue Feb 18, 2020 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: $90k windfall and 529
Replies: 11
Views: 943

Re: $90k windfall and 529

anon_investor wrote: Tue Feb 18, 2020 1:17 pm
SeaToTheBay wrote: Tue Feb 18, 2020 12:46 pm Our income/savings, barring unforeseen circumstances, will surely preclude us from any financial aid, so we can set that part aside.
Assuming you have maxed out all other tax advantaged vehicles, and you have no urgent need to use this money, the plan seems okay.

One question though, do you think you may move to another state anytime soon where you might be able to receive a state income tax deduction for 529 contribution?
Only state we're likely to move in the next few years has no state income tax.
by SeaToTheBay
Tue Feb 18, 2020 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: $90k windfall and 529
Replies: 11
Views: 943

Re: $90k windfall and 529

Our income/savings, barring unforeseen circumstances, will surely preclude us from any financial aid, so we can set that part aside.
by SeaToTheBay
Tue Feb 18, 2020 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: $90k windfall and 529
Replies: 11
Views: 943

$90k windfall and 529

Our first kid (likely not having more) is nearing 1 year old. We are selling an investment property and should net about $90k after taxes, so was thinking about superfunding a 529 with this.

Anything I need to consider in comparing throwing it all into 529 now vs. putting it in a taxable account for now and taking a more gradual approach to the 529? Wherever the funds reside, I'm hesitant to invest it all right away due to what feels like a pretty frothy market (maybe invest 40-50% so I'm not completely market timing?). We are in the 35% fed tax bracket and have nearly 10% state income taxes with no deduction for 529.
by SeaToTheBay
Tue Feb 18, 2020 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Baby, House, Parent, HCOL
Replies: 9
Views: 1316

Re: Baby, House, Parent, HCOL

Is it possible to expand or even remodel/add a room to your current home? A friend of mine is in a HCOL and has a condo in a stellar location they bought ~10yrs ago, but it's a 2bd and was getting crowded with a family of 4. Rather than move to a 3-bd and increase their housing cost by $1M, he spent $38k remodeling most of his condo and opening up some main room space while dividing a portion of it into a 3rd bedroom. Got to keep his relatively low housing cost and outstanding location while making the place work for his situation and boosting the value of his condo to boot.
by SeaToTheBay
Tue Feb 18, 2020 12:01 pm
Forum: Personal Consumer Issues
Topic: How big of a car do you need for a kid and his/her stuff?
Replies: 66
Views: 4825

Re: How big of a car do you need for a kid and his/her stuff?

Thanks all for the replies! I ended up test driving a Model 3 last Friday and liked it a lot. Comfortable, tons of power, and Autopilot was fantastic. However, it's hard for me to justify spending the $30k over the value of my '11 M3 for the Performance model (which I would require as a lifelong car nut!) after taxes. Luckily my M3 is hardly depreciating anymore (rare combo of V8, manual transmission in a sedan, along with many options highly desired by car nuts) so maybe in a couple of years the price delta will be smaller with a used Model 3. Or ideally, I can get my wife to get one :D I also have a Lotus Elise so I don't think I can drive ANYthing with 1 kid :D You have plans on selling the Elise or is this a "hold forever car?"...
by SeaToTheBay
Thu Feb 13, 2020 3:15 pm
Forum: Personal Consumer Issues
Topic: How big of a car do you need for a kid and his/her stuff?
Replies: 66
Views: 4825

Re: How big of a car do you need for a kid and his/her stuff?

Entertaining and useful responses, thanks. Sounds like I'm likely to be fine for common requirements. Absolute worst case, I'm not married to the thing and can also rent a larger vehicle if we ever go on some extensive road trip (in which case an electric car is probably a suboptimal choice anyway).
by SeaToTheBay
Thu Feb 13, 2020 2:18 pm
Forum: Personal Consumer Issues
Topic: How big of a car do you need for a kid and his/her stuff?
Replies: 66
Views: 4825

Re: How big of a car do you need for a kid and his/her stuff?

HereToLearn wrote: Thu Feb 13, 2020 2:11 pm Do you anticipate wanting to drive your child's friends anywhere?
That's exactly the kind of thing I was thinking about... And these days with car seats required until a much later age than when I was growing up, 3 across in the back basically isn't possible for a number of years. Hmm...
bloom2708 wrote: Thu Feb 13, 2020 2:03 pm With 1 kid, you can drive anything.

The 2nd and really the 3rd can alter the dynamics based on the ages.
I also have a Lotus Elise so I don't think I can drive ANYthing with 1 kid :D
by SeaToTheBay
Thu Feb 13, 2020 1:59 pm
Forum: Personal Consumer Issues
Topic: How big of a car do you need for a kid and his/her stuff?
Replies: 66
Views: 4825

How big of a car do you need for a kid and his/her stuff?

I currently have a BMW M3 sedan and am thinking about replacing it with a Tesla Model 3. My wife has a same-sized car (Mercedes C-class) that she wants to keep a few more years, and we both hate driving big cars. We have a 10-month-old son and are leaning toward not having any more kids, although haven't ruled it out. Despite being a huge car enthusiast, I tend to keep cars for a few years (the transaction cost kills me and I've never bought a new car before), so I want to make sure a Model 3 will have enough space for our kiddo (or two?) and all the things he will want to do for the first few years of his life. While our compact sedans have worked fine so far, taking all his baby gear for even a weekend trip (bulky car seat, cooler, luggag...
by SeaToTheBay
Tue Feb 04, 2020 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford a bigger home -- or should I buy a bigger home? (Bay area, CA)
Replies: 41
Views: 4462

Re: Can I afford a bigger home -- or should I buy a bigger home? (Bay area, CA)

We are in a pretty similar scenario, but slightly more income, slightly bigger house, but not quite as good (expensive) part of the Bay Area, and my wife and I both work. We are considering a lot of the same options, and are really on the fence. I am hoping to stick it out in the existing home as long as it makes sense, because the money we're able to save now will only present more options later.

Another option we're considering at some point is moving to a place like Seattle, which is expensive but not compared to the Bay Area. Main reason being it's ridiculous to make half a million dollars a year with a fairly thrifty mentality yet struggle to afford a house big enough for *one kid* in a good area.
by SeaToTheBay
Tue Feb 04, 2020 4:53 pm
Forum: Personal Investments
Topic: Paralyzed by TSLA
Replies: 58
Views: 9030

Re: Paralyzed by TSLA

Tax means you're making money. You have a ton of profit and a good reason to sell.
by SeaToTheBay
Wed Jan 29, 2020 2:07 pm
Forum: Personal Consumer Issues
Topic: Buying a new-construction home
Replies: 28
Views: 4258

Re: Buying a new-construction home

1) Has anyone bought a new-construction home before? What was it like? Did you use a realtor? Is there anything you wished you had done differently? We bought a new-construction townhouse in 2016. We didn't realize at the time, but we could only have a realtor if he/she was present during the first tour. Wish we would've known that beforehand. Otherwise it went pretty smoothly other than just trying to get a bunch of fairly minor issues corrected in the first couple of months. 2) Is there anything I should be careful about during the process, that is, things I should ask for or make sure I get that I might really miss down the line? Related: is there a typical or standard type of deal I can compare against? Make sure to strongly consider a...
by SeaToTheBay
Wed Jan 22, 2020 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Kick off 2020 with a $100 Savings Bonus! [Marcus]
Replies: 10
Views: 1212

Re: Kick off 2020 with a $100 Savings Bonus!

Yep, enrolled this morning. If you transfer $10k and keep there for the required 60 days, that's about a 6% return, plus the interest you would earn at their going rate (currently 1.70%).
by SeaToTheBay
Fri Jan 17, 2020 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: Switch career path for more $
Replies: 7
Views: 1265

Re: Switch career path for more $

Thanks for the responses thus far! When the kiddo is off at college and you are 52 are you going to be happier retiring right then and finally having free time after the kid is gone or are you going to be happier having spent more time with the kid but needing to work a few more years after they are out of the house? That’s not intended to be a loaded question - there isn’t a “right” answer - but since you appear to have decided to have a kid and also decided you are likely “one and done” I’d make the decision based on what you were/are hoping to get from the whole kid thing as that isn’t something you can rewind or redo. Career opportunities can of course be difficult to revisit later but are a lot more flexible in general than the inexora...