Search found 186 matches

by gougou
Wed Sep 18, 2019 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: Tax avoidance and estate planning ‘for the rich’?
Replies: 61
Views: 5745

Re: Tax avoidance and estate planning ‘for the rich’?

I'm trying to follow the story on Jeffrey Epstein's $500M+ estate and why it seems like he won't pay any federal estate taxes. I think it might have something to do with a trust on US Virgin Islands.
by gougou
Wed Sep 18, 2019 2:35 pm
Forum: Personal Investments
Topic: Investing in an apt complex through a real estate equity firm
Replies: 38
Views: 2061

Re: Investing in an apt complex through a real estate equity firm

What type of ownership do you get in this deal? (LLC? Partnership? something else?)
by gougou
Mon Sep 16, 2019 4:07 pm
Forum: Personal Consumer Issues
Topic: Used Tesla S or new Tesla 3?
Replies: 40
Views: 3045

Re: Used Tesla S or new Tesla 3?

Model S, bigger car, roomy interior. Model 3, newer, longer range, more miles/kWh. I drive a model S 75 RWD with FSD. I really want more range. Navigate on Autopilot is very useful since my commute is mostly highway. I didn't buy the autopilot or FSD initially but got both when they were on sale for...
by gougou
Thu Sep 12, 2019 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage refi - pull cash out?
Replies: 25
Views: 1902

Re: Mortgage refi - pull cash out?

If you do, make sure you talk to a CPA so that you can deduct the interests from your investment gains. For example, if you pull $1M out and pay $27.5K per year in interest, while earning $37.5K dividend from those $1M, you could deduct $27.5K and only pay tax on $10K of dividend.
by gougou
Thu Sep 12, 2019 3:11 am
Forum: Personal Finance (Not Investing)
Topic: Bay Area budget for $350k family income
Replies: 94
Views: 7074

Re: Bay Area budget for $350k family income

What if we compare it to a budget for a LCOL city? The only difference is that housing is much cheaper. Let's say the LCOL budget has a $300K house with $3k/yr property tax and $13k/yr mortgage. Bay area budget has $22k/yr property tax and $47k/yr mortgage. The LCOL budget saved $53k on housing. Con...
by gougou
Tue Sep 10, 2019 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Some Computer Science Career Advise?
Replies: 56
Views: 4639

Re: Some Computer Science Career Advise?

Current megacorp just came back with a counteroffer of promotion I'd been asking for + $14k to go with that promotion. So, they would move my base up to $163k. I'm leaning towards staying because stock at the new place seems a bit harder to get than here. They keep saying that new megacorp is more ...
by gougou
Thu Sep 05, 2019 5:14 pm
Forum: Personal Consumer Issues
Topic: How much do you tip ubereats?
Replies: 35
Views: 2842

Re: How much do you tip ubereats?

I don't.
by gougou
Wed Sep 04, 2019 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance 7/1 ARM mortgage
Replies: 27
Views: 2286

Re: Refinance 7/1 ARM mortgage

I just closed a 2.75% 7-year ARM no closing cost refinance with HSBC after moving some assets over to HSBC. Without moving assets the rate they offered was about 3%. That was a month back and rates have dropped further so you should get better rates now. Thanks, was there >20% equity? I am just try...
by gougou
Wed Sep 04, 2019 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 291
Views: 29316

Re: Relationship mortgage discounts for moving a million assets

Even with the 10-year treasury dropping, I have not found rates to be any better now than when I locked about a month ago. Same here. Just closed on 15-year at 3% with no points/closing costs/relationship discount. Locked in early August and pushed for lower rate but loan officer claimed pricing di...
by gougou
Wed Sep 04, 2019 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 291
Views: 29316

Re: Relationship mortgage discounts for moving a million assets

Found this thread very useful and wanted to add a data point of mine. Options I'm working with right now BofA - Leading contender. 3.5% APR and 4.2k Lender credits which covers closing costs. Rate drops to 3.25% if I bring in $500k in AUM Citi - Currently working on matching BofA's offer. Hoping th...
by gougou
Wed Sep 04, 2019 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance 7/1 ARM mortgage
Replies: 27
Views: 2286

Re: Refinance 7/1 ARM mortgage

I just closed a 2.75% 7-year ARM no closing cost refinance with HSBC after moving some assets over to HSBC. Without moving assets the rate they offered was about 3%. That was a month back and rates have dropped further so you should get better rates now.
by gougou
Thu Aug 22, 2019 3:32 pm
Forum: Investing - Theory, News & General
Topic: Chinese property bubble?
Replies: 59
Views: 2825

Re: Chinese property bubble?

The 70 year lease doesn't mean a property will depreciate to 0 after it expires. Even though it is a lease in name, Chinese government cannot and will not confiscate properties and expel residents when the leases run out. It will have to pass a property tax law that people are willing to accept, oth...
by gougou
Thu Aug 22, 2019 3:00 pm
Forum: Investing - Theory, News & General
Topic: Chinese property bubble?
Replies: 59
Views: 2825

Re: Chinese property bubble?

What I find fascinating is I don't understand where the wealth is going. If Chinese buyers are overpaying for properties, than presumably the sellers of those properties - the real estate development companies - should be raking in cash. But they seem to be up to their eyeballs in debt and the stoc...
by gougou
Wed Aug 14, 2019 7:25 pm
Forum: Investing - Theory, News & General
Topic: Ray Dalio bullish on China (China market cap to overtake US in 2030?)
Replies: 47
Views: 3781

Re: Ray Dalio bullish on China (China market cap to overtake US in 2030?)

An alternative to investing directly in China is to invest in some Australia index funds such as VAS (or just long the index futures directly): https://www.asx.com.au/asx/share-price-research/company/VAS China buys one third of all Australia exports. If China does well so should the Australia stock ...
by gougou
Wed Aug 14, 2019 1:06 pm
Forum: Investing - Theory, News & General
Topic: Ray Dalio bullish on China (China market cap to overtake US in 2030?)
Replies: 47
Views: 3781

Re: Ray Dalio bullish on China (China market cap to overtake US in 2030?)

The same stocks in China trade at significant discount in HK vs in China. See: http://finance.sina.com.cn/stock/hkstock/anh.shtml e.g. Bank of China (HK.3988) trades at a 25% discount in HK vs Shenzhen. Luoyang Glass (HK.1108) trades at a whopping 86% discount in HK vs Shenzhen. If you are intereste...
by gougou
Mon Aug 12, 2019 5:42 pm
Forum: Personal Investments
Topic: Life insurance, is it a good deal?
Replies: 35
Views: 1684

Re: Life insurance, is it a good deal?

She does not want to lose money so stocks are too risky for her. She doesn't know much English and she has no desire to manage her investments. Also adding ... IF she really wants to do life insurance, go with low-cost VUL through TIAA or Ameritas. That's interesting and I'll look into it. What abo...
by gougou
Mon Aug 12, 2019 5:40 pm
Forum: Personal Investments
Topic: Life insurance, is it a good deal?
Replies: 35
Views: 1684

Re: Life insurance, is it a good deal?

This sounds like a "whole life insurance" scam. The broker is going to pocket 6 figures and rip her off. She won't get the "investment" part AND the death benefit. Scenario 1, as life insurance: Pay $500,000 for a $2.5M life insurance policy. If she dies, the "investment" principal and interest dis...
by gougou
Mon Aug 12, 2019 4:35 pm
Forum: Personal Investments
Topic: Life insurance, is it a good deal?
Replies: 35
Views: 1684

Re: Life insurance, is it a good deal?

...She wants to know if it is a good deal... It is a very good deal for at least one person - the insurance salesperson who closes the deal. In life insurance sales it is not unusual for the commission paid to the salesperson to be 50% or more of the first year premium. That varies depending on the...
by gougou
Mon Aug 12, 2019 4:30 pm
Forum: Personal Investments
Topic: Life insurance, is it a good deal?
Replies: 35
Views: 1684

Re: Life insurance, is it a good deal?

RickBoglehead wrote:
Mon Aug 12, 2019 3:18 pm
She is a sitting duck. Warn her off. Bank CDs or US Treasuries.
US Treasuries return is probably too low so it's difficult to recommend it.
by gougou
Mon Aug 12, 2019 4:22 pm
Forum: Personal Investments
Topic: Life insurance, is it a good deal?
Replies: 35
Views: 1684

Re: Life insurance, is it a good deal?

DarkHelmetII wrote:
Mon Aug 12, 2019 3:27 pm
gougou wrote:
Mon Aug 12, 2019 3:14 pm
She does not want to lose money so stocks are too risky for her. She doesn't know much English and she has no desire to manage her investments.
Also adding ... IF she really wants to do life insurance, go with low-cost VUL through TIAA or Ameritas.
That's interesting and I'll look into it.
by gougou
Mon Aug 12, 2019 3:14 pm
Forum: Personal Investments
Topic: Life insurance, is it a good deal?
Replies: 35
Views: 1684

Re: Life insurance, is it a good deal?

She does not want to lose money so stocks are too risky for her. She doesn't know much English and she has no desire to manage her investments.
by gougou
Mon Aug 12, 2019 2:09 pm
Forum: Personal Investments
Topic: Life insurance, is it a good deal?
Replies: 35
Views: 1684

Life insurance, is it a good deal?

So my father's friend (female, 55yo) is looking to invest some money to leave to her child. The deal she got is that she pays $100K per year for the next 5 years, and the total death benefit is $2.5M up until she is 104 yo, and grows at about 3% per year after that, until she's 120 yo then the death...
by gougou
Fri Aug 09, 2019 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 291
Views: 29316

Re: Relationship mortgage discounts for moving a million assets

I'm getting a 7/1 with 2.75% with .13 points from PNC with no assets moved (but again, a 0.5 point discount for this loan officer), so HSBC seems in-line. This was locked on Tuesday this week. OK, but do they cover your closing costs? Also I expect my rate to drop about 0.2% because of the recent m...
by gougou
Fri Aug 09, 2019 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 291
Views: 29316

Re: Relationship mortgage discounts for moving a million assets

I got 2.75% 7 year ARM for a no closing cost cash out refinance with HSBC. Loan amount is about $1M. Max LTV is 75%. The rate was locked 2 weeks ago (7-year yield was about 1.9%) after moving $500K deposit. They have a promotional savings account which pays 2.25% APY which is good enough for me to p...
by gougou
Thu Aug 08, 2019 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate Negotiation Came to a Halt
Replies: 67
Views: 5107

Re: Real Estate Negotiation Came to a Halt

You said you could pay cash, why don't you put in an unconditional offer? You could still leave enough time for getting a mortgage. If you walk away they could keep your security deposit, which is a very strong incentive for them to take your offer.
by gougou
Sun Jul 28, 2019 11:26 pm
Forum: Non-US Investing
Topic: Are Irish domiciled ETFs the BEST for non states investors?
Replies: 5
Views: 535

Re: Are Irish domiciled ETFs the BEST for non states investors?

S&P futures are better than Irish domiciled ETFs.
by gougou
Wed Jul 24, 2019 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)
Replies: 110
Views: 12707

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Thanks OP! This post is worth $1000 to me.
by gougou
Wed Jul 24, 2019 1:23 pm
Forum: Personal Investments
Topic: Etrade denies promotion on $1 mil new account
Replies: 65
Views: 7538

Re: Etrade denies promotion on $1 mil new account

I opened a Discover Bank account expecting $200 for moving $25K earlier this year. I didn't click the link and they denied me the bonus. They said that the bonus code was not applied during application so there is nothing they can do. Next time I'll call to ask if the bonus code has been applied bef...
by gougou
Wed Jul 24, 2019 1:11 pm
Forum: Personal Investments
Topic: Gold?
Replies: 137
Views: 7598

Re: Gold?

It really is worthwhile to read from mid page 17 to page 19 in the Berkshire Hathaway shareholders letter from 2011. Begin where you see this title The Basic Choices for Investors and the One We Strongly Prefer https://www.berkshirehathaway.com/letters/2011ltr.pdf Buffett discusses gold, fixed inco...
by gougou
Tue Jul 23, 2019 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: Business loan to relative
Replies: 33
Views: 1446

Re: Business loan to relative

You are doing seed funding, and you should get equity, voting power and all the financial information of his company. If he just wants a loan he should go to a bank.
by gougou
Tue Jul 23, 2019 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house - bay area
Replies: 102
Views: 6124

Re: Buying a house - bay area

Absolutely rent. Do not spend $140k to own a [(removed) --admin LadyGeek] . You should be THRILLED about a home when spending $2.5 million on it. You haven’t answered the question of how much less rent is. I’d guess you could find a decent place to rent for $8k per month. Now invest the difference....
by gougou
Tue Jul 23, 2019 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house - bay area
Replies: 102
Views: 6124

Re: Buying a house - bay area

Absolutely rent. Do not spend $140k to own a [(removed) --admin LadyGeek] . You should be THRILLED about a home when spending $2.5 million on it. You haven’t answered the question of how much less rent is. I’d guess you could find a decent place to rent for $8k per month. Now invest the difference....
by gougou
Tue Jul 23, 2019 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Best Mortgage for High Net Worth? 20% down then HELOC the 80% balance?
Replies: 17
Views: 1425

Re: Best Mortgage for High Net Worth? 20% down then HELOC the 80% balance?

What's the interest rate? IMO the interest rate is the only thing that matters. HELOC typically has higher interest rate than an ARM.
by gougou
Tue Jul 23, 2019 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house - bay area
Replies: 102
Views: 6124

Re: Buying a house - bay area

It's like valuing GOOG stock or AMZN stock at 0. Do you value the stock portion of your portfolio at 0? I certainly don't. My job security is good and the RSUs I receive can be sold immediately after vesting. Maybe it will drop by 40% in a huge market crash but I don't see it going to 0. If you say...
by gougou
Tue Jul 23, 2019 1:34 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house - bay area
Replies: 102
Views: 6124

Re: Buying a house - bay area

Some things to consider: 1)I would look for housing costs where you could barely get by on one salary. That way, if one of you does lose their job, you can still stay afloat and you would hopefully not be in a place where both of you are unemployed for an extended period of time so your savings wou...
by gougou
Mon Jul 22, 2019 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house - bay area
Replies: 102
Views: 6124

Re: Buying a house - bay area

I think you are in pretty good shape to make the purchase. I would consider a 7-year ARM. I just did a no-cost refinance at 2.79% which is about a full percentage lower than your 30-year fixed rate, that's $20K a year you could save over the next 7 years. With your income you could just pay it off a...
by gougou
Wed Jul 17, 2019 3:41 pm
Forum: Personal Investments
Topic: Gold?
Replies: 137
Views: 7598

Re: Gold?

Why do people only talk about gold when it ran up from $1.2K to $1.4K recently? How would a 5% allocation help a portfolio in any ways? Gold has historically returned less than bond with higher volatility so it is unlikely to help a stock/bond portfolio. https://www.gold.org/goldhub/portfolio-tools/...
by gougou
Mon Jul 15, 2019 9:05 pm
Forum: Personal Consumer Issues
Topic: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]
Replies: 31
Views: 2510

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

If you decide to buy from one of the online dealers such as APMEX, you should buy the 2019 version that's straight from mint. Gold maples are fragile and easily scratched, so even those BU (brilliant uncirculated) gold maples might not look that good. You should avoid silver maples as they can get ...
by gougou
Mon Jul 15, 2019 8:53 pm
Forum: Personal Consumer Issues
Topic: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]
Replies: 31
Views: 2510

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

If you are buying non-numismatic gold coins, which you seem to be interested in doing, you should have no worries about your daughter damaging the coins to an extent that will reduce their value. Not true, if you have a 1 oz gold coin in reasonable condition you can usually sell it for spot price. ...
by gougou
Mon Jul 15, 2019 3:54 pm
Forum: Personal Consumer Issues
Topic: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]
Replies: 31
Views: 2510

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

If you are buying non-numismatic gold coins, which you seem to be interested in doing, you should have no worries about your daughter damaging the coins to an extent that will reduce their value. Not true, if you have a 1 oz gold coin in reasonable condition you can usually sell it for spot price. ...
by gougou
Mon Jul 15, 2019 3:52 pm
Forum: Personal Consumer Issues
Topic: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]
Replies: 31
Views: 2510

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

If you decide to buy from one of the online dealers such as APMEX, you should buy the 2019 version that's straight from mint. Gold maples are fragile and easily scratched, so even those BU (brilliant uncirculated) gold maples might not look that good. You should avoid silver maples as they can get m...
by gougou
Tue Jul 09, 2019 4:50 pm
Forum: Personal Investments
Topic: paper gold or physical gold?
Replies: 37
Views: 2374

Re: paper gold or physical gold?

I don't understand some people's mentality that gold is only for the total collapse of world orders. Gold appreciates against USD (or any other currency) when the currency gets debased. When Nixon ended gold-USD convertibility in 1971, gold shot up from $35 to over $600 within a decade. OP: If you p...
by gougou
Mon Jul 08, 2019 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Card Sign up bonuses
Replies: 16
Views: 1561

Re: Credit Card Sign up bonuses

Get Chase Ink Preferred card which has 80K points sign-up bonus.

I believe Chase Sapphire cards have a 48-month language now so you need to wait more than 4 years to re-signup.
by gougou
Wed Jul 03, 2019 6:13 pm
Forum: Personal Investments
Topic: Pick one: $135,000 rental property or $110,000 in REITs
Replies: 89
Views: 10945

Re: Pick one: $135,000 rental property or $110,000 in REITs

Let's say there is a rental property that is worth about $135,000 in its current as-is condition. Right now, this rental property brings in about $6,500 in net profit per year after all expenses are paid for. Is it better to keep this rental property? Or sell it and buy VNQ (Vanguard Real Estate RE...
by gougou
Wed Jul 03, 2019 1:40 pm
Forum: Investing - Theory, News & General
Topic: Good times: 2008 vs Now
Replies: 145
Views: 15226

Re: Good times: 2008 vs Now

... we were living in a house in 2006 that dropped in value by 50% in 2008. It was cheap and in my wife's name so we just walked away from the mortgage and it sold as a short sale. It was a countrywide loan (they are now out of business of course), so there were no long term consequences to this. M...
by gougou
Tue Jul 02, 2019 6:52 pm
Forum: Non-US Investing
Topic: Non-US citizen with US Brokers: Estate Tax risk?
Replies: 103
Views: 32930

Re: Non-US citizen with US Brokers: Estate Tax risk?

What I like most of all about this article is its shrieking, alarmist, and sanctimonious tone coupled with a complete disregard for the fact that at $60k the US estate tax exemption for nonresident aliens is currently a mere 0.54% of that allowed to a US citizen (it was just over 1% of US citizen r...
by gougou
Mon Jul 01, 2019 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: 75 vs 78% LTV
Replies: 8
Views: 1038

Re: 75 vs 78% LTV

Maybe you can just refinance for a better rate now and ditch your current mortgage servicing agency for good.
by gougou
Fri Jun 21, 2019 6:30 pm
Forum: Personal Consumer Issues
Topic: Highest % cash back credit card
Replies: 77
Views: 5877

Re: Highest % cash back credit card

PayPal credit card -- 2% on everything 0 AF. Fidelity Visa -- 2% everything 0 AF. Citi Double Cash -- 2% everything 0 AF. Capital One Spark Cash -- 2% everything $59 AF, $500 sign up bonus. BofA Premium Rewards -- 2.625% everything $95 AF, $500 signup bonus, requires $100K assets at BofA, you get a ...
by gougou
Fri Jun 21, 2019 6:04 pm
Forum: Personal Consumer Issues
Topic: Highest % cash back credit card
Replies: 77
Views: 5877

Re: Highest % cash back credit card

I can't speak to the Cash Rewards card, but I've never hit any sort of limit on the 3.5% and 2.625% levels on the Premium Rewards card. The T&C are quite clear that the earnings are unlimited. It's not unlimited. I was shut down by Bank of America for using the Premium Rewards card too much and the...
by gougou
Thu Jun 20, 2019 5:35 pm
Forum: Personal Consumer Issues
Topic: Highest % cash back credit card
Replies: 77
Views: 5877

Re: Highest % cash back credit card

There appears to be a $ limit of $2500 per quarter to which the elevated cashback applies. After that it drops to 1% + whatever premier status bonus. I can't speak to the Cash Rewards card, but I've never hit any sort of limit on the 3.5% and 2.625% levels on the Premium Rewards card. The T&C are q...