Search found 143 matches

by JuniorBH
Mon Jun 08, 2020 7:16 pm
Forum: Personal Consumer Issues
Topic: What fun car should I get in the $150k - $200k range?
Replies: 447
Views: 24959

Re: What fun car should I get in the $150k - $200k range?

Stop to think, I ask you the same question I asked our friendly TomatoTomahato above? I am for all intent and purposes financially independent, making very good money with no good reason to retire early. My portfolio is invested in index funds. If I keep saving I will have have more money than I ne...
by JuniorBH
Wed May 13, 2020 12:03 pm
Forum: Personal Consumer Issues
Topic: Is it worth buying an infant car seat for each car.
Replies: 71
Views: 3309

Re: Is it worth buying an infant car seat for each car.

If you can afford it, yes. We have four toddler seats across two cars for two kids. Wouldn't have it another way. When we had infants we had multiple "bases" installed and moved the carrier piece from car to car. As for the $190, that's perfectly reasonable. There are safe seats for less, and fancy...
by JuniorBH
Wed May 06, 2020 10:59 am
Forum: Personal Finance (Not Investing)
Topic: Car Purchase - Financing vs Down Payment, GAP Insurance, Extra Warranties
Replies: 58
Views: 2031

Re: Car Purchase - Financing vs Down Payment, GAP Insurance, Extra Warranties

I've been offered the wheel and tire protection on all the BMW's I've purchased and I always decline. It's the same rationale you come up with; the break-even is very high. Plus, they sell it as "we can fix a bent rim!"; I can tell you after driving BMW's for the last 12 years, I've never bent a rim...
by JuniorBH
Wed Apr 15, 2020 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: How many paid for kids' college?
Replies: 282
Views: 14138

Re: How many paid for kids' college?

My parents paid for college for my brother and I, though they wouldn't have paid full freight had we picked private/expensive out of state schools. Watching friends struggle with loans, I understand how much it set us up for success. I plan on doing the same for my kids, some combination of 529 and ...
by JuniorBH
Tue Mar 31, 2020 10:16 am
Forum: Personal Finance (Not Investing)
Topic: House Buying Advice - Contract Already Signed
Replies: 39
Views: 3748

Re: House Buying Advice - Contract Already Signed

Given the first part of your post, I'm not sure why you would back out. You love the house and the area and presumably you can afford it. You don't seem to have job security concerns, so I would move forward. Seems like you're trying to time the housing market. What if you back out, wait a few month...
by JuniorBH
Mon Mar 30, 2020 9:22 am
Forum: Personal Finance (Not Investing)
Topic: UPDATE: 50% paycut after starting new job
Replies: 53
Views: 6940

Re: 50% paycut after starting new job

To everyone saying "the company pulled this stunt"; how could they have seen this coming? And if "they should have known" about a pandemic, shouldn't OP have known as well? OP - two thoughts; if you feel the Company is still healthy enough to weather this and the opportunity is still there, I would ...
by JuniorBH
Mon Mar 30, 2020 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Question about sign on bonus
Replies: 14
Views: 1036

Re: Question about sign on bonus

I had this situation last year, I was required to pay back the after-tax amount.
by JuniorBH
Tue Mar 24, 2020 11:24 am
Forum: Personal Finance (Not Investing)
Topic: What credit card are you using that is not Citi 2% cashback?
Replies: 57
Views: 5320

Re: What credit card are you using that is not Citi 2% cashback?

Same cards as always BoA cash rewards: 5.25% on gas, 4.5% on grocery BoA premium rewards: 3.5% on travel and restaurants, 2.625% on everything else. Fantastic combo. Same here, though I'm not sure how you're getting 4.5% on groceries, I think it's 1.75% x 2% = 3.5% on groceries. I also use the amex...
by JuniorBH
Mon Mar 16, 2020 9:08 pm
Forum: Personal Consumer Issues
Topic: BMW X5 owners, do you recommend upgrading maintenance plan or tires?
Replies: 15
Views: 1073

Re: BMW X5 owners, do you recommend upgrading maintenance plan or tires?

I currently have an X5M. It has 36K miles on it and it's still on it's first set of brake pads with a ton of life left. When I bought the current car, I traded in an X5 50i with 64K miles, also on it's first set (though nearing time for replacement). So, no, I wouldn't spring for the maintenance to ...
by JuniorBH
Mon Mar 16, 2020 8:59 pm
Forum: Personal Consumer Issues
Topic: Daycare closed
Replies: 140
Views: 10998

Re: Daycare closed

We're expecting our daycare likely will close within the next few weeks and I've contemplated how to handle this. I suspect a large number of the employees are hourly and I doubt they will be getting paid. Combined with the reduction in overhead (i.e. food, service, utilities, etc), the majority of ...
by JuniorBH
Fri Mar 13, 2020 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Planned to pay off debt, now wondering if liquidity is more important.
Replies: 37
Views: 3242

Re: Planned to pay off debt, now wondering if liquidity is more important.

It does not need to all or nothing. If you paid off the credit cards that would leave you with $15.5k in cash. You could then pay that $950 a month on the student loans and have it paid off by the end of the year. If something happens like a layoff then not having that credit card debt would be a v...
by JuniorBH
Thu Jan 09, 2020 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Living in a HCOL and making a middle class salary is a struggle
Replies: 340
Views: 20732

Re: Living in a HCOL and making a middle class salary is a struggle

Kaizen Soze wrote:
Thu Jan 09, 2020 4:03 pm

Groceries/toiletries in NYC Suburbs cost $9.5k?
Interesting - I read that same thing and thought it seemed low. Our monthly bills for groceries, toiletries and other household items (paper towels, cleaning supplies, etc) is about $1K a month.
by JuniorBH
Wed Jan 08, 2020 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Living in a HCOL and making a middle class salary is a struggle
Replies: 340
Views: 20732

Re: Living in a HCOL and making a middle class salary is a struggle

Similar situation to OP, though I'm across the Tappan Zee, the situation is the same (Rockland property taxes are ~3.5% of home value, average house is in the $450K range). When we first moved here and bought our house, we were making ~$180K and it felt like a struggle, especially once the daycare p...
by JuniorBH
Fri Dec 06, 2019 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Thoughts on how to go about quitting job?
Replies: 28
Views: 2745

Re: Thoughts on how to go about quitting job?

This seems like a perfectly reasonable decision; people leave jobs all the time to relocate. I'm not sure why you wouldn't want to show your face. As others have said, consult the handbook on PTO before you give notice; if they will pay it out, getting another check might be nice. And, I would make ...
by JuniorBH
Tue Dec 03, 2019 10:03 pm
Forum: Personal Finance (Not Investing)
Topic: URGENT "Retention bonus" question / Check my math!
Replies: 25
Views: 2573

Re: URGENT "Retention bonus" question / Check my math!

I don't see any immediate flaws. If you have to pay the gross amount back, you'd potentially be out of pocket the withholdings until you file your taxes, but it sounds like that's not material to your net worth. FWIW, I had a similar situation last year; received a signing bonus when I changed compa...
by JuniorBH
Tue Dec 03, 2019 12:38 pm
Forum: Personal Consumer Issues
Topic: Airline overhead bins...do you think they're assigned?
Replies: 135
Views: 6758

Re: Airline overhead bins...do you think they're assigned?

As someone who takes 25+ flights a year, I've enjoyed seeing all the different points of view. My personal view is similar to others; try to use the bin above my seat when possible. If I'm coming down the aisle and see that won't be possible, grab any bin I can in front of my seat. Having to wait wh...
by JuniorBH
Fri Nov 08, 2019 3:10 pm
Forum: Personal Consumer Issues
Topic: How bad business travel is?
Replies: 62
Views: 5942

Re: How bad business travel is?

I travel about 20 times a year and really don't mind it. As others have said, when it eats into the weekend is when it's really bad. Otherwise, it breaks up the monotony and keeps things interesting. Plus you get into a groove and getting on a plane becomes routine. If you're truly only traveling 10...
by JuniorBH
Sat Oct 19, 2019 3:13 pm
Forum: Personal Consumer Issues
Topic: One thing to check when buying a used car privately [wheel locks]
Replies: 20
Views: 2497

Re: One thing to check when buying a used car privately [wheel locks]

Ran into this on the first BMW I owned; car had wheel locks and the key was missing from the tool kit. In my case, BMW dealer had a master set and was able to get them off.

I've never bothered with adding wheel locks; as others have mentioned, a serious thief will get around them.
by JuniorBH
Tue Oct 15, 2019 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Sign on bonus and taxes
Replies: 14
Views: 1640

Re: Sign on bonus and taxes

I had a similar situation this year. Earned a sign-on bonus in September 2018, left the company and paid back the bonus in March 2019. In my case, the former employer only requested back the after-tax portion I was actually paid. We'll see what my W2 says at the end of the year, but I was pleased to...
by JuniorBH
Mon Oct 14, 2019 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Refinancing NYC co-op apt we don't live in, should we go 30-year fixed or 7/1 ARM?
Replies: 22
Views: 2550

Re: Refinancing NYC co-op apt we don't live in, should we go 30-year fixed or 7/1 ARM?

Additionally, depending upon how far into the current loan, and especially so with only a small decrease in interest rate, resetting the clock back to 30 years could actually end up costing you *more* interest paid over the life of the loan. I thought this as well. Without knowing the rest of your ...
by JuniorBH
Mon Sep 30, 2019 11:26 am
Forum: Personal Consumer Issues
Topic: When and should I buy dream car? 1997 Toyota Supra
Replies: 38
Views: 3415

Re: When and should I buy dream car? 1997 Toyota Supra

If you're always going to want a Supra because you've always wanted a Supra, then just scratch the itch but accept that it's not financial wisdom. Another car guy here, and agree with the above. Pull the trigger and then assess; do you really get as much satisfaction/use from it as you expected? If...
by JuniorBH
Fri Aug 09, 2019 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Unlimited Paid Time Off ("PTO") and Sick Time: cui bono and how does it work?
Replies: 21
Views: 2460

Re: Unlimited Paid Time Off ("PTO") and Sick Time: cui bono and how does it work?

My wife worked in a law firm with "unlimited" PTO. In reality, you are still tied to your productivity - and in this case, billable hours. So, in reality, the unlimited PTO doesn't mean you have more time off. I have a similar situation in a consulting firm; I have billable hours and revenue genera...
by JuniorBH
Tue Jul 30, 2019 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Ethics of "bonus payback" when quitting a job
Replies: 158
Views: 12060

Re: Ethics of "bonus payback" when quitting a job

The expected loss of a bonus should have been negotiated with the new employer, typically as a sign-on bonus. In all scenarios I would pay the bonus back. Best of luck. IME, you negotiate with the new employer to make you whole, and the old employer gives you a confirming letter that you have had a...
by JuniorBH
Fri Jun 07, 2019 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Would you buy a house without a garage?
Replies: 95
Views: 6778

Re: Would you buy a house without a garage?

Without skimming through the replies, as someone who currently lives in an NYC suburb, no chance I'd buy a house without a garage. It's a personal decision; I would say >50% of our neighbors have a garage but don't use it for cars. We put both cars in the garage which is great when it's hot/cold/sno...
by JuniorBH
Tue Jun 04, 2019 12:19 pm
Forum: Personal Consumer Issues
Topic: Any BMW 535i Owners Out There?
Replies: 12
Views: 1557

Re: Any BMW 535i Owners Out There?

I have owned many BMWs and currently drive one. I would only own one that is under warranty. Ditto (on my 5th BMW currently) and ditto (wouldn't want one that's daily driven unless it had a warranty). A 2016 should have some of the factory full warranty left and a year of CPO, if you're buying from...
by JuniorBH
Fri May 03, 2019 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: How "trade in a leased car" for another used car works, without a down payment?!
Replies: 4
Views: 690

Re: How "trade in a leased car" for another used car works, without a down payment?!

It is possible; if the buyout on the car is less than what the dealer will give you in trade-in, you could end up with money toward the next car. The way to think about it is you can buy a lease out at any time for cash; if that cost is lower than FMV of the car, you would have equity. This is the e...
by JuniorBH
Fri May 03, 2019 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: PMI / Removing PMI question
Replies: 11
Views: 1031

Re: PMI / Removing PMI question

For an extra ~$1,200, I completely avoid the PMI in the first place and put the 20% down. Agree with the other poster on rate shopping; I would think another lender would give you the same rate without the points and it's at least worth exploring (you may find the current lender will waive it if you...
by JuniorBH
Tue Apr 02, 2019 8:50 am
Forum: Personal Consumer Issues
Topic: Do any of you have a fear of changing jobs?
Replies: 73
Views: 5232

Re: Do any of you have a fear of changing jobs?

Were you tempted to accept the counter offer? I have heard it is never a good idea to accept one. Yes, I was, I spent two weeks agonizing and talking to probably 8-10 different people between the firms. The decision came to a simple thought I read somewhere about counter offers: If the counter offe...
by JuniorBH
Mon Apr 01, 2019 10:12 am
Forum: Personal Finance (Not Investing)
Topic: I think we're FIRE in 8 or 9 years, feedback?
Replies: 15
Views: 2258

Re: I think we're FIRE in 8 or 9 years, feedback?

While we are younger than you, we're projected to be at similar assets and expenses in our late 40's, also with college for two on the horizon. In our projection, we're hoping to pull the plug around 50 years old, so for you to do so around 54-55 seems completely reasonable.
by JuniorBH
Mon Apr 01, 2019 10:07 am
Forum: Personal Consumer Issues
Topic: Do any of you have a fear of changing jobs?
Replies: 73
Views: 5232

Re: Do any of you have a fear of changing jobs?

I spent the first 11 years of my career with the same company and just left last summer. It was agonizing, especially when they matched the salary of the new job. Ultimately, I'd glad I did; it was helpful to get over the mental hurdle of knowing change isn't a terrible thing and I'm sure the old co...
by JuniorBH
Wed Mar 27, 2019 2:56 pm
Forum: Personal Consumer Issues
Topic: Returning back to former job
Replies: 12
Views: 1300

Re: Returning back to former job

The only comment I wonder about from your post is that you've only been there a few weeks. Is that really enough time to conclude that you shouldnt have left in the first place? I have the same thought; I'd at least give it 2-3 months. If your former company will take you back now, presumably they ...
by JuniorBH
Fri Mar 22, 2019 11:06 am
Forum: Personal Finance (Not Investing)
Topic: When to increase house size with a growing family?
Replies: 43
Views: 3065

Re: When to increase house size with a growing family?

I'm confused why everyone thinks you can't afford this. You're basically paying cash for this new house right? You have $200K in equity and $140 in cash/taxable so that covers your high end estimate. Sometimes the Bogleheads conservatism borders on maniacal. +1,000,000,000,000 A lot of members of t...
by JuniorBH
Thu Mar 21, 2019 9:27 am
Forum: Personal Consumer Issues
Topic: Being a Boglehead and car enthusiast stinks
Replies: 72
Views: 5092

Re: Being a Boglehead and car enthusiast stinks

As others have said, being a car enthusiast and being financially responsible shouldn't be mutually exclusive. Sure, you can think of it in terms of "If I invested the $X I would spend on a car, in 20 years I'll have $xx"; but who knows if you'll be physically able to enjoy the car then? Life is a j...
by JuniorBH
Fri Mar 08, 2019 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: [2018 tax return - How does it compare to previous years?]
Replies: 441
Views: 36979

Re: [2018 tax return - How does it compare to previous years?]

Effective tax rate went down from 28.5% to 24.8%. Also, we just barely dipped into the alternative minimum last year, so I imagine we would have really been into it this year under the new rules. Quick takeaways: - SALT deduction change cut itemized deductions almost in half, but we still itemized a...
by JuniorBH
Fri Mar 08, 2019 10:21 am
Forum: Personal Consumer Issues
Topic: Sports team season tickets
Replies: 45
Views: 4872

Re: Sports team season tickets

FWIW, I had a group of friends who went in on season tickets for the Knicks before the '10/'11 season (thought we might get Lebron, clearly that didn't pan out). That said, they had 6 seats together and sold probably 80% of the games through Stubhub/Craigslist, etc. While it was a pretty significant...
by JuniorBH
Wed Mar 06, 2019 8:59 am
Forum: Personal Consumer Issues
Topic: Anybody have a vehicle with ventilated driver's seat?
Replies: 25
Views: 1583

Re: Anybody have a vehicle with ventilated driver's seat?

We have them in our Grand Cherokee and they work very well. It's an option I'd select again on the next car.
by JuniorBH
Tue Mar 05, 2019 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Career: How to determine if new job will lead to more salary growth in the long term vs. current job?
Replies: 7
Views: 788

Re: Career: How to determine if new job will lead to more salary growth in the long term vs. current job?

I know this is tough for a lot of people, but honestly, when I recruit anybody other than entry level, I expect them to just give me a number. And when I last interviewed for my own position I gave a number after they described the benefits and the position requirements. It is rarely the final numb...
by JuniorBH
Tue Mar 05, 2019 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Accounting for a third car?
Replies: 18
Views: 1355

Re: Accounting for a third car?

The financial burden wouldn't be my concern, it's likely not material and seems to be completely offset by the enjoyment you'll get out of it. Seems like the real consideration is parking space (do you have somewhere to put it so it's out of the way) and maintenance (if one of the cars is parked out...
by JuniorBH
Tue Mar 05, 2019 10:14 am
Forum: Personal Consumer Issues
Topic: Why do you live where you live?
Replies: 134
Views: 10227

Re: Why do you live where you live?

Suburb of NYC. Two main reasons: 1. We were raised in the area and family is close by which means our kids can spend a lot of time with grandparents, uncles, etc. 2. Professional opportunity; despite the VHCOL, our compensation allows us to live well with additional upward mobility as we progress.
by JuniorBH
Fri Feb 15, 2019 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: Layoff Rehire and Career Options
Replies: 12
Views: 1432

Re: Layoff Rehire and Career Options

Are there conditions upon accepting the $10K now (i.e. if you leave within x months, you owe it back)? Regardless, if you're really serious about wanting a career change, I would probably take the severance. That gives you a number of months of income to find a new job. The caveat there is that you ...
by JuniorBH
Fri Feb 01, 2019 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Could Credit Card Work as Hypothetical Emergency Fund Instead of Cash?
Replies: 43
Views: 2640

Re: Could Credit Card Work as Hypothetical Emergency Fund Instead of Cash?

The only way credit cards should figure in an emergency plan is that you can float the outlay a month or so which gives you plenty of time to transfer the money from your savings account or wherever. Agree with this. Credit card can be useful when you need a large sum of money quickly and it can br...
by JuniorBH
Wed Jan 16, 2019 1:40 pm
Forum: Personal Consumer Issues
Topic: Who's flying?
Replies: 83
Views: 11031

Re: Who's flying?

Flew in/out of LGA and CLT this week. No obvious differences and although I have Precheck, the normal lines didn't appear longer than usual.
by JuniorBH
Fri Jan 11, 2019 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: Salary Question During Job Interview
Replies: 17
Views: 2610

Re: Salary Question During Job Interview

Ask for the range, and give the explanation of not wanting to waste everyone's time if the range isn't "in the ballpark." Most companies have them. DO NOT tell them what you're currently paid, as it allows them to lowball if you are indeed underpaid where you are. This. For exactly these reasons. I...
by JuniorBH
Wed Jan 09, 2019 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: First-time homebuying
Replies: 17
Views: 1327

Re: First-time homebuying

Agree with the other folks who have pointed to the downpayment as a pain point. It's great that your mortgage payment will be a relatively small portion of income, but that doesn't help you if the HVAC fails in the first month or two. Without running the math, I would imagine renting can't "cost you...
by JuniorBH
Wed Jan 09, 2019 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: Recast mortgage?
Replies: 28
Views: 3429

Re: Recast mortgage?

I would go ahead and recast. If you're going to keep making the same payment regardless, might as well have the extra wiggle room if you needed to revert back to only making the required monthly payment.
by JuniorBH
Mon Dec 31, 2018 10:27 am
Forum: Personal Consumer Issues
Topic: Corvette vs Cayman/Boxster......anyone owned both?
Replies: 57
Views: 5290

Re: Corvette vs Cayman/Boxster......anyone owned both?

But there is a an element of image to me and one reason I'm disinclined toward Corvette is it's a younger guy's car (which is part of the refinement/raw issue), I just don't want to be that 60 yr old guy in a Corvette. This made me chuckle; Corvette's are a "younger guy's car"? That might be the fi...
by JuniorBH
Fri Dec 21, 2018 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Having minor panic about finances with second child, best way to budget?
Replies: 54
Views: 3396

Re: Having minor panic about finances with second child, best way to budget?

Unfortunately this is the reality in some areas, including mine. If you can escape with full time care for under $20k per child you are very lucky, that is nearly unheard of here (top 5 COL metro area). The cheapest home daycare we ever used was $18,500 per year and it was definitely not nice at al...
by JuniorBH
Mon Dec 10, 2018 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Switching Jobs - Pension/401K/PTO Balance Payouts & Uncovered Medical
Replies: 9
Views: 564

Re: Switching Jobs - Pension/401K/PTO Balance Payouts

I recently changed company's after a similar time period and dealt with items 1-3. My choices were: 1. leave the pension, which had a similar balance and similar rate of return. I don't think I had the option of a lump sum, but figured it's a decent return anyway. 2. Rolled my 401K to an IRA. It was...
by JuniorBH
Tue Dec 04, 2018 9:21 am
Forum: Personal Finance (Not Investing)
Topic: What to negotiate in offers
Replies: 45
Views: 3600

Re: What to negotiate in offers

I think what determines your salary is what the market is willing to pay for it. However, I would be very uncomfortable in your shoes to ask for more if I am getting 55% of compensation raise. I am assuming this is same city, and not a relocation situation? Also, the bit about phone stipend seems v...
by JuniorBH
Fri Nov 09, 2018 2:12 pm
Forum: Personal Consumer Issues
Topic: Career/Life Advice Needed - When to start a business?
Replies: 20
Views: 1787

Re: Career/Life Advice Needed - When to start a business?

If you can FI in 3 years, that seems like a no-brainer. Completely understanding that it's easier for someone else to say "three years is a short time" when they aren't in the daily grind. However, knowing you're FI should actually help with starting a business since decisions won't be made based on...