Bogleheads.org

Olemiss540

Sorry if I missed it, but how much liquid CASH do you have for this home purchase/home sale transaction? Definately agree to RENT while home shopping. TAKE YOUR TIME, as this is the largest purchase of your lives and can have the biggest negative impacts on your financial futures if you make a mista...

Olemiss540

SLOW DOWN! STOP! DON'T JUST DO SOMETHING, STAND THERE! You have accumulated 300k over your life. Congrats. What you do over the next 3-6 months will make ZERO appreciable difference in the outcome, so I STRONGLY recommend you sit in cash/CDs for the next 6 months while you educate yourself and your...

Olemiss540

SLOW DOWN! STOP! DON'T JUST DO SOMETHING, STAND THERE! You have accumulated 300k over your life. Congrats. What you do over the next 3-6 months will make ZERO appreciable difference in the outcome, so I STRONGLY recommend you sit in cash/CDs for the next 6 months while you educate yourself and your ...

Olemiss540

When she ate at a restaurant, my ex-MIL would order water with ice and extra lemon, then she would squeeze the lemons into the water and add sugar from the sugar packets on the table and make what I would refer to as "cheapskate lemonade." I think that crosses the line to cheap and it always embarr...

Olemiss540

Really, the "American Dream" is about new Ford Expeditions, fancy gated neighborhoods, nice furniture, and expensive electronics. You don't need to pay a lot for "experiences", many life long memories I have were amazingly cheap. The question is why do you try to justify spending through internal mo...

Olemiss540

Strongly consider a budgeting software like YNAB. I would immediately wipe out the CC deficit with my emergency funds and spend the next year getting the emergency fund up to 25 or 30k. No more wine at auctions :beer You don't need to do as good as the Jones'on here, just have to have the patience t...

Olemiss540

Mods should just lock this thread. Nothing actionable at this point and turning into every other forum on the internet with quipping/whining/complaining. Since you have the whining and complaining down, I will jump in for the quip before the lock! I think people get worried about these FI bloggers ...

Olemiss540

Race car
Relocating to beach town for a year
Going to NYC and Turks in next 60 days

Going to Mexican tonight to treat the twins!
Meet my savings goals then spend the rest before my wife does.

Olemiss540

Wish we could get a pic! Want one and have since I was 16, but not versatile enough to justify and rather a track car than a trail car.

Congrats on the purchase! Hold their resell well that's for sure..

Olemiss540

I knew that any server in that state would know the message I was sending: "I've waited tables myself and you stunk. But I'm NOT going to make YOU pay for the fact that I chose to dine here." Then shouldn't you have tipped 12% of 9.5%? I personally tip at frequented local restaurants on takeout ser...

Olemiss540

I enjoy fun cars as well, but living in LA there's not much point to have a fun commuter. Driving a slow car fast > driving a fast car slow. +1000 Thats why I don't bother with newer cars for my fun car...my M3 is a 98 and is a blast to drive because you can push it to its limits in the canyons wit...

Olemiss540

Could they implement a cheap keycode lock or otherwise secure the trash dumpster? I would think the landlord would be receptive to keep their waste costs down.

Olemiss540

We usually stick to two go-to's:

1.) Tray of baked rigatoni with side trays of meatballs and sausages from local italian eatery
2.) Food truck (we usually book BBQ truck)

Olemiss540

Your progress can not be measured without goals to measure them against. What is your family's goals with regards to savings? When do you both want to retire? What is your marginal tax rate (including fed and state taxes)? Have you ever done your own taxes to see the effect of the marginal dollar on...

Olemiss540

I rent, so property taxes = $0. A bit like saying "my monthly mortgage payment includes an escrow payment that covers tax and insurance so my property tax = $0" Except in one scenario the property taxes are paid by me, and the other they are not. Pretty much the same though. This thread seems kind ...

Olemiss540

I rent, so property taxes = $0.

Olemiss540

Do it! For folks not living on the west coast (I live in Seattle), a million dollar house is pretty ordinary for those in the top 5% and likely to continue to get more expensive. Enjoy your life and (future) kids! I clarified that statement. This is why some folks come on Bogleheads and don't come ...

Olemiss540

1.) KISS when it comes to trying to eek out an additional .5% from short term savings (and taking additional risk commiserate). Just leave the prime fund be and continue to plow down payment funds into it. 2.) What is you combined federal and state marginal rate? With a 400-500k house, I would plan ...

Olemiss540

Can I go tell my boss that I feel used? He had already made up his mind about hiring Carlos. He used me to show to his colleagues that Carlos was chosen amongst multiple applicants. It was a sham interview. He said my interview went really well and my technical skills are unmatched, but he hasn't s...

Olemiss540

Anything bought at grocery store for us counts as "grocery" budget. I usually subtract out make-up and condoms tho and put them in personal care category. condoms could go into "cheaper than kids" category I guess. Your condom budget is big enough to break out from your groceries? ^ guy *sexs*

Olemiss540

2 year old Lexus. I do like the look of the new highlander tho!

Olemiss540

I honestly believe that going into a trade like plumbing will be more lucrative and stable than engineering. It's one of the jobs that can't be outsourced. Civil Engineers will never be outsourced to another country. There are too many local, state, and federal regulations, codes, standards, requir...

Olemiss540

Topic-starter mentioned that he reached $100.000 in investments before reaching a $100.000 net worth. I'm a Dave Ramsey-fan and balk at the idea. Am I alone in that? I thought an emergency fund is common practice here? I don't have an emergency fund. Many here do, but I wouldn't categorize it as "c...

Olemiss540

You can go ahead and roll the entire balance to a TIRA at Vanguard and Roth convert some of it towards the end of the year when you have a good grasp on your marginal rate. No need to make a guess now and rush a decision that could cost you thousands.

*not a tax advisor so definitely do your own HW.

Olemiss540

Topic-starter mentioned that he reached $100.000 in investments before reaching a $100.000 net worth. I'm a Dave Ramsey-fan and balk at the idea. Am I alone in that? I thought an emergency fund is common practice here? I don't have an emergency fund. Many here do, but I wouldn't categorize it as "c...

Olemiss540

r/wallstreetbets

I got u fam.

Olemiss540

Personally, I think it is a waste of brain power to concern yourself with this non-issue. To think your 7 figure account balance somehow gives you additional say in the operations of a multi billion dollar bank comes of a bit arrogant tbh.

Olemiss540

OP, I know I'm not ansewring your question but you stated you're not funding the HSA. Why? If you're eligible for an HSA account which is the best saving and investing instrument available, fund it. If you have to, reduce the 401K contribution enough to get the maximum match and use the difference ...

Olemiss540

Automotive repair (racecar building) and driving said racecar at high performance driving events.

Most fun I have had since I was 10 driving my first go-cart. A bit more expensive though......

Olemiss540

How big is your extended family? Frequency of overnight visitors? Not sure your question makes much sense given you don't have an apparent NEED for a 4th bedroom regardless of the financial impacts. Only get a 4 bedroom if it prevents another move in the future as value in reducing transaction costs...

Olemiss540

You have $250k in cash already, and your bonus coming, and a very healthy income if you’re in the 32% bracket. Look at the situation in reverse. If you were debt free today, would you borrow $190k so you could put a bunch of cash in savings accounts? That’s effectively what you’re doing. I think I’...

Olemiss540

Why? Strong desire to become a landlord?

Olemiss540

COL differences in either city?

Zero long term difference in pay with either role?

Stress is a killer. I would erroron the lower stress side if all else was equal.

Olemiss540

So, a top 2% salary with family time aplenty? Would you also like to telecommute and live in a LCOL area? Try volunteering for the needy and doing some reading on contentment. Maybe some meditation? I have heard that helps. Being stuck in a quicksand pit of upper middle class America is MANY peoples...

Olemiss540

Can you sell some stuff? Downgrade cars? Sell any expensive collectables or furniture? Have a yard sale? Get a second job? Get a third job? I would treat the debt as an emergency. Your life is on pause while you lay under a mountain of consumer debt. Knock this stuff out while putting a complete hol...

Olemiss540

I think you are feeling rushed to not be "priced out". As hard as it may be, with your tremendous savings rate and your young age, I would seriously consider putting off a house for another 2-3 years and enjoying the time you have with your SO. Leave the stressful $%^# for the idiots and enjoy trave...

Olemiss540

Congrats!!

Olemiss540

Look at it this way... if you had both car loans paid for ($58k), would you go BORROW $58k just to invest it? Even worse, would you go borrow $58k just to finance another vehicle? The question isn't about financing another vehicle, but paying off a loan vs. investing. I'm not the OP, but at 1.24% w...

Olemiss540

Why don't you say yes (that you intend to quit), and mean it? You have a lot of "excuses" as to why you haven't done it yet, or why this job is important to you, or how you can't "part time it" because you would have to pay for 2 extra days of day care. Tell themyou will quit if youare not allowed t...

Olemiss540

I would not have bought a $460k house on a 110k salary that's for sure.... Sell the rental and pay off your debts. Live on YOUR salary and SAVE/INVEST your wife's salary. Retire in 20 years. Easy button. The hard part is staying focused and driven to not "keep up with the jones's". With 300k in sala...

Olemiss540

Why do you have 300k in cash? How much do you have in retirement?

These are important questions as it allows others to determine the alternative options if you don't pay full cash.

Olemiss540

It is easy to have the numbers work out better when you are pulling them off your laptop. Are you planning to sell it yourself or trade it in? You going to spend any money fixing it in preperation for a sale? Are you going to have to pay sales tax on a new car? Have you negotiated the price of the n...

Olemiss540

Trying to find a blind spot? How about trying to figure out how to spend the other 15k a month?

1.4M at 37? Congrats and good work!

Olemiss540

I know your position on the car, but know it is severely impacting your ability to compound investments early in your career, which will lose HUNDREDS of thousands of dollars in future $$$. Consider again selling the car and buying a reliable car for 10k. Consider buying a new BMW 3 series now is co...

Olemiss540

I wouldn't bother with bond funds. I would hold your efund in an online savings account (high yield) and adding the $500-600 a month, and then start putting every raise into your Roth IRA/4013b. That will build your cash holding up by 6k/year while also building your savings rate up for the potentia...

Olemiss540

I follow this site but don’t post advice ever, apart from a few about paying off student loans. But you can pay straight cash for your house and not have a mortgage payment... so unless you’re looking for gratification of your net worth, I don’t understand why you’re even asking. +1. Here's the pat...

Olemiss540

If your tax rate is the same while you are working and while you are retired, then the deferral offers no advantage -- I assume that's the point you're making. No, I'm making the opposite point, that it in fact does offer an advantage. The reason is the difference between effective and marginal tax...

Olemiss540

short answer. Get serious about reducing your expenses as much as possible until it hurts. Throw everything at your student loan debt (ext $, summer school, bonuses). You don't want to be mid-50's paying off student loan debt-- at the same time your kids head off to college. Once you have knocked o...

Olemiss540

Love the folks who claim it's impossible to support a family of 5 on a $2.8 Mil best egg. Literally nobody has said that. People have stated that the portfolio wouldn't support a $120k annual withdrawal figure. The OP can certainly support a family of 5 if they reduce their withdrawal rate. Literal...

Olemiss540

Love the folks who claim it's impossible to support a family of 5 on a $2.8 Mil best egg. Literally nobody has said that. People have stated that the portfolio wouldn't support a $120k annual withdrawal figure. The OP can certainly support a family of 5 if they reduce their withdrawal rate. Literal...

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