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Snert

retire2044 wrote: ↑Wed Oct 28, 2020 8:20 am Paying off the mortgage may slow down this lifestyle creep.

In the short term, perhaps. Long term, it may have the opposite effect. With no mortgage to worry about, we've loosened the reins a bit!

Snert

I was in a similar situation a while back. Business going well, Simple IRA fully funded, putting a similar amount towards taxable every month, and no debt other than a mortgage at 2.875%. While paying off the house wasn't the optimal mathematic formula (I'm sure of that now, but I didn't know what t...

Snert

Am I crazy to consider buying now? Mixing personal and business is what scares me. The personal guaranty and putting a possible lien on my home scares me. I’ve run the business for 12 years now and I feel confident in my abilities but this just bothers me. Do banks really go after people’s home if ...

Snert

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Snert

So do you save for retirement as if you couldn't sell your business? My mind set is that I'll be OK (hopefully) saving a bit less in traditional retirement accounts since I should be able to sell my business one day and use the proceeds to fund a portion of my retirement. From a purely financial st...

Snert

Nice job building a business worth $3 million. That's a huge accomplishment. I don't consider the value of my business as part of a "retirement account", since I'd probably have to sell the business to actually retire. However, I absolutely count the business as an asset and I track the ap...

Snert

There is an excellent article on Lane Powell's website that encourages adding headcount during the 8-week period following PPP funding. https://www.lanepowell.com/Our-Insights/203205/Run-It-Back-Maximizing-PPP-Loan-Forgiveness "Employers should consider adding headcount during the covered perio...

Snert

If your company has the wherewithal to hire new employees at this time, how can you certify that you needed the loan to continue operations? I don't see any problem here. The OP didn't certify that (s)he needed the loan to continue operations forever or on a particular future date . The relevant it...

Snert

I sat in on a National Small Business Town Hall call today with the US Chamber of Commerce and Inc. magazine. One of the panelists said that "fintech" companies (online banks, essentially) would be able to process PPP loans soon. It was suggested that this would provide access to PPP loans...

Snert

There's no way I'd do this. Back of the napkin math shows about $4M net worth. After the $1.2M draw down to make the down payment, assuming the house is worth the $2.7M you paid for it (unlikely), you still have a $4M net worth, but now 67% of your net worth is tied up in your house. Looking at it f...

Snert

Sorry, I screwed up and meant the DOW. I still don't get all this, but YES I KNOW the stock market goes up and down, but the news said "in one of the worse losses since October" or something. I always love the "worst losses since _____" headlines! Often, the market goes way up a...

Snert

While we cannot control the actions of others, we can hold our heads high knowing when we've done the right thing.

You know the right thing to do. Do that.

Snert

You might like www.airtable.com. It's a cloud-based database that works a lot like a spreadsheet. You can attach photos and sort, filter, or link to your heart's content.

Snert

Lots of very successful people did not attend elite schools. Many did not complete college.

A second thought is that the experience children receive at home has a mighty influence on their future. That experience may outweigh the experience they have in school. Or vice versa.

Snert

My wife and I recently purchased Bromptons. I have no experience with other brands of folding bikes, but no other folding bike we've seen in stores or on the street seem nearly as good. We are frequent travelers and plan to take our Bromptons with us everywhere. They also fit nicely in the backs of ...

Snert

Followed my passion for teaching > graduated from college and grad school with no/little debt > started teaching > married a kind and supportive wife > started a side business as a workshop presenter and publishing ed materials > struggled like heck raising 5 kids for the first 20 or so years. The ...

Snert

Nice to see so many entrepreneurs chiming in. I agree with others that business owners have unique considerations and, in many cases, we need more liquidity. I do keep my personal and business affairs completely separate, though, and try to keep my business liquidity in my business accounts. I'm abo...

Snert

Interesting - it's never occurred to me to check the manufacturing date of new tires. I happened to have a set replaced last week on an SUV I bought new in the summer of 2016. I had the original tires replaced because they were getting noisy, but they still had quite a bit of thread left. When I men...

Snert

mancich wrote: ↑Wed Dec 12, 2018 2:39 pm I recommend ExcelisFun on YouTube. The teacher, Mike Girvin, has videos going back 8 or 9 years with topics from all the basics up to advanced tools. Very clear teaching style, and great for advanced users too, with topics like Power Query, Power Pivot, and Power BI.

+1!

Snert

Long-time entrepreneur here. I bought a commercial office building recently and negotiated seller-financing with favorable terms. During my due diligence period, I contacted a number of banks, including the one I've used for many years, a few regional banks, and a couple community banks. I was surpr...

Snert

I second (third?) the Toastmaster's idea. Toastmasters is a GREAT way to get comfortable talking with others. And you'll probably make some new friends along the way!

Snert

I paid $2265 for 154 square feet of sidewalk repair a few months ago. The contractor dug out the damaged sections, built forms, poured the new sections, and removed the forms a few days later. No permit required in my area (suburban Atlanta).

Snert

Speaking as a community college dropout and entrepreneur of 20+ years, I agree with @student. If you figured out how to start and build a business, you don't need a college degree. You can continue to build the business you already have, you can build another business, you can consult, you can inves...

Snert

it never has to be all or nothing. Sell one property and see how that goes? +1 I like this idea. It reduces your risk, but keeps you invested in real estate with your remaining property. Also, if you choose to refinance your primary, you'd probably reduce your minimum payment and that will help wit...

Snert

I have the same issue with fingerprint ID my older iPhone. Works a couple of times then quits. I just use the password through my password manager. It’s not worth the hassle to keep re-loading the app and resetting things over and over. This is probably where I'm going to end up. A complication, ho...

Snert

do you have issues with faceID on other apps? i would rescan your face, watch some youtube tutorials to get it perfect. then try again. otherwise, i also would bet its probably an issue with the app. No issues with Face ID on other apps. Also unlocks the phone consistently and simply, even in the d...

Snert

I just upgraded to an iPhone X and I'm having trouble getting the Vanguard app to work with Face ID. When I attempt to use the feature (which happens automatically when I open the app), I get an error saying that my logon credentials are incorrect. At that point, I can enter my password manually and...

Snert

Here's a relevant blog site worth checking out...

http://www.frugalwoods.com/

Snert

You might consider Maslow's hierarchy of needs, which places priority on air to breathe, water to drink, food to eat, sleep, clothing and shelter. In fact, you're far ahead of many in the world if you reliably have access to all of those things. With all those things reliably covered, I'd probably f...

Snert

I recently joined LA Fitness. I paid $818.76 cash for a 3-year membership that allows me to visit any LA Fitness location. The initiation fee was waived or rolled into the amount I paid, making my effective rate ~$22.75/mo.

Snert

Hang on a second. Some folks are suggesting that you should take the loss and start over. I wouldn't be so quick to do that, personally. If I'm reading correctly, you managed to create a $75K portfolio in 4 years flat. You're about 31 years old, so your time horizon is long and your best earning yea...

Snert

Thanks. The footnotes to go with the Rollover chart are also different than reflected on the wiki.

Snert

The Rollover Chart on section 1.2 of the IRA rollovers and transfers page is out of date.

The current version is located here (PDF). Specifically, it is now allowable to rollover a traditional IRA to a Simple IRA, though there may be other changes, as well.

Snert

Appreciate the thoughts. Thanks, all.

Snert

I like the idea of Vanguard's new US Multifactor ETF (VFMF). Based on the fund's published goals and the fact that it is structured as an ETF, it seems reasonable to believe that VFMF will be tax-efficient.

Any tax-efficiency concerns about holding VFMF in a taxable account?

Snert

Not a direct answer to your question, but an interesting and relevant read:

https://www.financialsamurai.com/the-av ... ge-person/

Snert

I'm using QuickBooks Online to keep track of accounting for an LLC that owns commercial income property. I don't love it, but it's the best thing I've found, so far. I've also tried Xero and QuickBooks Professional, but neither suited my workflow. There are other purpose-made packages (like Argus, f...

Snert

While I am certainly glad to be a Boglehead, I found myself wanting to convince him on why I was right. He of course was trying to do the same. How do you tackle such situations? Both sides could provide evidence to boost their claims and have all kinds of data to back their arguments. Why can't yo...

Snert

Thanks for the responses.

Snert

Two or three years ago, I read an article about a real estate tycoon that had sustained heavy losses during the Great Recession, only to re-emerge as a more conservative investor several years later. If memory serves, the article appeared in Forbes or Wired magazine, but I suppose it could have been...

Snert

Valuethinker, thank you for the reply. For the benefit of others, I thought I'd post a bit about the outcome of my decision. Aside from the risks, it became clear that the structure of the rate swap loan made extra principal payments impossible. Between that limitation and the risk that an early pay...

Snert

I'd say that you're in a GREAT position to "pivot" out of your business. For starters, applying the 4% rule to your 1.6M portfolio, you've potentially got $64K of income right off the bat. That's 91% of your W2 income, according to your post. Just about any job would close the gap and then...

Snert

I am shopping for a commercial mortgage and one of the banks has proposed an interest rate swap as a method to secure a competitive fixed rate. I was not familiar with interest rate swaps, so I read up on the topic and I now have a basic understanding of how the process works. What is not as clear t...

Snert

Googling this topic, it seems that the filing status of an LLC determines whether or not it is subject to the Georgia Net Worth tax. From the Georgia Dept of Revenue website ( https://dor.georgia.gov/net-worth-tax-corporations#field_related_links-486-4 ): Is a disregarded single member LLC subject t...

Snert

Hello. Longtime (20+ years) professional services business owner here. I own an Inc 5000 company and I do my own books (Quickbooks Pro). You can learn to do the same and it will make you a better entrepreneur. Manage your finances well and your business will be worth more when and if you decide to s...

Snert

Wow. It certainly seems like a new job is your best bet. Have you done the math on that commute, though? It sounds terrible! 1 hr 10 mins x 2 (each direction) = 2 hrs 20 mins per day 2 hrs 20 mins x 5 days per week = 11 hrs 40 mins per week 11 hrs 40 mins x 50 weeks per year = 583 hrs 20 mins per ye...

Snert

Earl Lemongrab wrote:I know that for the i401(k) plans Vanguard doesn't allow Admiral or ETF shares. I don't know if that's the case for SIMPLE IRAs.

I have not had any trouble purchasing Admiral funds in my Simple IRA. I don't own any ETFs, but I'm not aware of any restrictions.

Snert

I have a Vanguard Simple IRA set up for my business. What kind of feedback are you looking for?

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