Search found 95 matches

by CMD1
Tue Jan 28, 2020 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 668
Views: 56050

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

I've started to rethink this myself. We have been pretty modest earners but recently went back to a 2 person income and live in a VHCOL area and finally bumped out of the 12% bracket, well into the 22% and switched away from ROTH. The case for ROTH seems to be strongest when you consider tax rates ...
by CMD1
Tue Jan 28, 2020 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 668
Views: 56050

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

I've started to rethink this myself. We have been pretty modest earners but recently went back to a 2 person income and live in a VHCOL area and finally bumped out of the 12% bracket, well into the 22% and switched away from ROTH. The case for ROTH seems to be strongest when you consider tax rates w...
by CMD1
Thu Jan 23, 2020 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford?
Replies: 41
Views: 2720

Re: How much house can we afford?

Around here $700k is barely above a starter home these days.
by CMD1
Tue Jan 14, 2020 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: What age did you reach 100K networth?
Replies: 433
Views: 92184

Re: What age did you reach 100K networth?

I doubt that. Not many, but I've seen posts from people who never made six figures. At 41 (a year ago) our retirement accounts were nearly the same as yours. Things look brighter now, despite moving to a HCOL area, higher pay allows us to save more and still get by, but there were some lean years wi...
by CMD1
Wed Jan 08, 2020 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Living in a HCOL and making a middle class salary is a struggle
Replies: 340
Views: 18110

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

We make ~25% less than the OP and live in a HCOL west coast market. Not sure if they are an option where the OP lives, but we are considering houses with an ADU/rental unit. The numbers pencil much better on a much nicer place this way if you don't mind being a landlord and having someone else live ...
by CMD1
Mon Dec 30, 2019 2:00 pm
Forum: Personal Consumer Issues
Topic: Has anyone done Whole 30? [Diet]
Replies: 141
Views: 5495

Re: Has anyone done Whole 30? [Diet]

Anyone listen to Dr. Joe Esposito, he is a chiropractor and nutrition expert out of Atlanta with a radio show with online podcast. Interesting and good info. Also has a line of vegan supplements, but he goes into the details behind specific symptoms, not just diet. As always do your own research and...
by CMD1
Fri Dec 27, 2019 12:06 am
Forum: Personal Investments
Topic: Former Employer 401k @ Fidelity - options?
Replies: 6
Views: 377

Re: Former Employer 401k @ Fidelity - options?

I have 2 Fidelity 401k's from prior jobs, have kept as is. Partly for protection and secondly because the plans are excellent with low fees. May reconsider at some point.
by CMD1
Mon Dec 23, 2019 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone start saving late and still retire early?
Replies: 61
Views: 5355

Re: Anyone start saving late and still retire early?

Completely realistic. Of course it comes down in large part to your expenses as others have mentioned. I've saved since my early 20's but now in my early 40's its clear I made such little money through my 20's and most of my 30's that it wasn't significant compared to my current salary (still not hi...
by CMD1
Thu Dec 19, 2019 1:17 pm
Forum: Personal Investments
Topic: Change from Regular 401K To Roth 401K question
Replies: 13
Views: 453

Re: Change from Regular 401K To Roth 401K question

I don't think it is what you intend, but if you switch completely away from 401k to Roth 401k, you would no longer receive an employer match. Matching only happens on pre-tax accounts. This has not been true in any 401k plan I have had - the match still applies but your employer matches with tradit...
by CMD1
Fri Dec 13, 2019 4:28 pm
Forum: Investing - Theory, News & General
Topic: Too poor to invest - living in the 12% bracket
Replies: 114
Views: 11526

Re: Too poor to invest - living in the 12% bracket

YES!! Spouse was home with the kids and pretty much we were that bracket until the last two years. Always tried to save 10%-15% and pick up the 401k match, even when making $23k in my twenties. Was in the $50k's for a while with two kids at home and still managed to save 15%+match. There wasn't much...
by CMD1
Mon Dec 02, 2019 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: How not to feel poor...
Replies: 78
Views: 12763

Re: How not to feel poor...

Congrats, looks like your going to be fine. With wife working you have the income you need and can reinvest $40k a year in dividends. At some point sounds like SS will replace her income AND whatever you do and earn will be a bonus to get further ahead and take those trips. Go on a least one trip as...
by CMD1
Thu Nov 28, 2019 2:58 am
Forum: Personal Investments
Topic: Good books for rental properties?
Replies: 16
Views: 890

Re: Good books for rental properties?

Landlording by Leigh Robinson. A really good book on actually running your landlord business, how to do everything. I think the advice to just jump in is dangerous, having the right advice and doing it right will save you lots of headaches and dollars. Also Mrlandlord.com has a good forum if your se...
by CMD1
Wed Nov 27, 2019 3:26 pm
Forum: Personal Consumer Issues
Topic: I wish I could ignore it...but I can't (ZILLOW!)
Replies: 68
Views: 9529

Re: I wish I could ignore it...but I can't (ZILLOW!)

What do you think caused the change - I know you mentioned a change at Zillow. But was there any new listings in the area, I notice often when someone lists, the estimate changes to nearly match the list price. Do you live in an area with a number of sales and listings or very few? What do recent co...
by CMD1
Wed Nov 20, 2019 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: How much Mortgage can I afford?
Replies: 42
Views: 4382

Re: How much Mortgage can I afford?

Around here $4,000 a month will get you a bit more than $550k mortgage, more in the range of $650-700k...and $550k will barely get you a 2 bedroom starter, but you don't mention what state you are in and therefore how much of that 4,000 would be property taxes (can vary widely).
by CMD1
Mon Nov 18, 2019 2:49 pm
Forum: Personal Consumer Issues
Topic: Exposure to Cigarette Smoke in Portugal Restaurants/Bars
Replies: 9
Views: 1957

Re: Exposure to Cigarette Smoke in Portugal Restaurants/Bars

We were in Portugal this summer and can't remember any smoking inside restaurants. Like much of Europe there is a bit more smoking in general, but nothing like we experienced in Paris. BTW, Portugal is amazing and those restaurant bills will be very friendly on the wallet. Cheapest restaurant bottle...
by CMD1
Tue Nov 12, 2019 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Should I do a cash out refinance?
Replies: 24
Views: 1919

Re: Should I do a cash out refinance?

I'm not a fan of taking on additional years via refinance, but my goal with our 1 rental is to pay it off, not maximize leverage. Perhaps yours is different. That said, if you need funds to maintain your property then either refi or a Heloc. Can you do the repairs over a couple years and mostly fund...
by CMD1
Mon Nov 11, 2019 3:58 pm
Forum: Personal Consumer Issues
Topic: My married son's employer health insurance - HDHP
Replies: 8
Views: 747

Re: My married son's employer health insurance - HDHP

I don't know that any health plans exclude pregnancy. In fact, I'd bet it's not allowed to exclude it. So then, you'd just be liable for the plan deductible/co insurance. Are you suggesting you want him to switch to a non high ded plan?
by CMD1
Fri Nov 01, 2019 12:11 pm
Forum: Personal Consumer Issues
Topic: Costa Rica
Replies: 14
Views: 1858

Re: Costa Rica

In Guanacaste I really like Playa Grande, although it's been a few years. Can see the enormous leatherback turtles there too. Can't go wrong with most of that pacific northwest coast. As mentioned you can also go to the volcano Arenal either as a day trip or for a couple days, easy drive. Lake Arena...
by CMD1
Wed Oct 30, 2019 3:50 pm
Forum: Personal Consumer Issues
Topic: Olympic National Park and Mount Rainier National Park First Week of November - Worth It?
Replies: 15
Views: 900

Re: Olympic National Park and Mount Rainier National Park First Week of November - Worth It?

Have you been to the PNW before? If the weather in the mountains isn't to your liking there would be tons of other choices near puget sound. After a few days exploring the Olympics, bring your passport and hope a ferry to Victoria on Vancouver Island BC. Deception Pass is a beautiful State Park that...
by CMD1
Wed Oct 30, 2019 3:39 pm
Forum: Personal Consumer Issues
Topic: Olympic National Park and Mount Rainier National Park First Week of November - Worth It?
Replies: 15
Views: 900

Re: Olympic National Park and Mount Rainier National Park First Week of November - Worth It?

The Olympic Peninsula gets a lot of rain outside the summer months so something to keep in mind/watch the forecast - maybe the rain forest is of interest. Keep in mind the Olympics are really spread out too. Do you want to see the ocean or mountains, both are possible of course. A third option to lo...
by CMD1
Wed Oct 30, 2019 11:25 am
Forum: Personal Investments
Topic: Please criticize my plan to save in taxable
Replies: 40
Views: 2605

Re: Please criticize my plan to save in taxable

How about putting the money in a Roth. If you decide not to buy a house you have tax free money in retirement (contributions + growth). If you need it for a house you can pull out the contributions with no penalty. There is also an option to pull up to $10k out of a traditional IRA (no penalty but t...
by CMD1
Mon Oct 28, 2019 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: How much does a "good school district" matter?
Replies: 76
Views: 7104

Re: How much does a "good school district" matter?

Great topic. We rent in a nice neighborhood of a large VHCOL city close to downtown and our jobs. Our local elementary school was rated a 9 when our first started there and is now rated a 6 on greatschools after they added criteria for diversity etc. It's also an expensive neighborhood with houses a...
by CMD1
Wed Oct 23, 2019 1:21 pm
Forum: Personal Consumer Issues
Topic: Sharing my camry 2011 overall/annual ownership costs.
Replies: 19
Views: 1331

Re: Sharing my camry 2011 overall/annual ownership costs.

We own a 2009 Camry, got lucky and it with only 65k miles from a retired couple 4 years ago for ~$9k. We drive no more than 10k a year (still under 100k). Before that we had much older cars and I have to say the lack of repair costs we have had the past 4 years have been nice. Of course with a new c...
by CMD1
Mon Oct 21, 2019 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Home buying advice: Build new or buy used?
Replies: 76
Views: 6028

Re: Home buying advice: Build new or buy used?

Where we live the vast majority of homes are either 1910-1930 or 1950's. The few from the 1970's-1990's are much less attractive in almost every respect and anything 2000 or newer, well it's $1M plus. Of course older homes are going to be in the best locations if your into that, newer usually means ...
by CMD1
Mon Oct 21, 2019 3:50 pm
Forum: Personal Consumer Issues
Topic: Living life post smart phone
Replies: 68
Views: 6127

Re: Living life post smart phone

There are actually a lot of stories out there about people doing just this. https://www.independent.co.uk/life-style/dumb-phones-sales-rise-disconnect-technology-mindfulness-social-media-a8499086.html Sales of “dumbphones” are on the rise as consumers increasingly seek ways to disconnect from the te...
by CMD1
Wed Oct 09, 2019 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone want to share their monthly budget? Here's ours
Replies: 153
Views: 33493

Re: Anyone want to share their monthly budget? Here's ours

I'm now super depressed at what we spend for rent after seeing this thread. We're a married couple, single earner making 185K gross in Seattle. Our avg monthly expenses right now are $5,250/mo all in, $3,000/mo of that is rent. Remainder covers all necessities as well as any discretionary. Rent inc...
by CMD1
Mon Oct 07, 2019 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Should I sell or hold [house]?
Replies: 31
Views: 2985

Re: Should I sell or hold [house]?

Whether you still want to be a landlord is a big part of the equation. But don't discount the large expense of selling real estate (upwards of 10% in many states) plus the cost of paying the dep recapture tax (also significant if you've had the house as a rental for many years). If your making money...
by CMD1
Fri Oct 04, 2019 11:46 pm
Forum: Personal Finance (Not Investing)
Topic: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?
Replies: 289
Views: 23281

Re: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?

It often doesn't feel like it, but I think you can get further ahead in a VHCOL area. This assumes you save of course. On top of having additional income hopefully, I think for many the opportunities are just greater so you grow into greater jobs a lot easier because opportunities are more plentiful...
by CMD1
Fri Oct 04, 2019 6:03 pm
Forum: Personal Consumer Issues
Topic: First car for child
Replies: 129
Views: 8855

Re: First car for child

We have a few years before this is even an issue but we don't spend a lot on cars anyways - our only car in the family today is a 2009 Camry and it's got a lot of life left - about to hit 100k miles. I imagine your income level and experience as a youth plays a lot into your philosophy. I was not gi...
by CMD1
Thu Oct 03, 2019 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Buying and living in a multi family unit
Replies: 24
Views: 1316

Re: Buying and living in a multi family unit

Regarding price and Cap rate - without knowing what market the property is in and the goal of the OP it's hard to be judgemental. If it's in the southeast or midwest cap rate is very important. If it's in a top west coast market your likely betting on price appreciation, basing on the 1% rule or cap...
by CMD1
Thu Oct 03, 2019 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Buying and living in a multi family unit
Replies: 24
Views: 1316

Re: Buying and living in a multi family unit

Folks on this forum are quite conservative, generally higher income and prefer passive investments (meaning, usually negative on the subject of investment real estate). There are good points and you would want to consider carefully the risks you are taking on, BUT if you've always wanted rental prop...
by CMD1
Tue Oct 01, 2019 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Luxury condo
Replies: 56
Views: 5123

Re: Luxury condo

The 1% rule is great, but it's useless in today's market in HCOL markets. Maybe 0.25-0.5%. But many landlords in these expensive coastal markets have made life changing amounts due to appreciation and it's hard to argue with the long term record of appreciation in many of the markets. Could also be ...
by CMD1
Tue Oct 01, 2019 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Luxury condo
Replies: 56
Views: 5123

Re: Luxury condo

You don't say what the average home/condo price is for your market. Where I live in a VHCOL, $520k is hundreds of thousands below the medium and therefore you gotta pay if you want to own and would NEVER buy if you look at it as a cap rate analysis. Then again, those that did buy have doubled in the...
by CMD1
Wed Sep 25, 2019 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: New Credit Card Search - 2 Front Runners?
Replies: 46
Views: 5999

Re: New Credit Card Search - 2 Front Runners?

I really like the Fidelity card, simple 2% cash back on everything. Of course you can do better if you go for multiple cards but for simple, one of the 2% cash back cards is as good as it gets.
by CMD1
Sat Sep 14, 2019 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Accountant Salary Growth
Replies: 32
Views: 3746

Re: Accountant Salary Growth

You will get to the $120k goal, the question is how quickly you want to get there. I am not at your level but am a CPA and things started going well for me when I landed at a F500 company in Atlanta as a Sr Accountant at $70k. In the almost 6 years since then I have had 5 jobs spread among 2 F500 co...
by CMD1
Wed May 15, 2019 4:39 pm
Forum: Personal Investments
Topic: CPA advice needed for selling two homes in 2019
Replies: 30
Views: 1484

Re: CPA advice needed for selling two homes in 2019

Generally you are always required to pay recapture on the depreciation, even if you didn't actually take it when it was a rental. That said, if it was a rental for 18 months 1-2 years of recapture shouldn't be big enough to drive your decision, it might add a little to your tax bill however. Someone...
by CMD1
Wed May 08, 2019 2:16 pm
Forum: Personal Investments
Topic: Advice on 401K contribution
Replies: 3
Views: 401

Re: Advice on 401K contribution

$19k each. Your likely phased partially or fully out of getting a tax break for contributing to a IRA on top of that however.
by CMD1
Wed May 01, 2019 6:34 pm
Forum: Investing - Theory, News & General
Topic: Do I live in a HCOL area?
Replies: 56
Views: 3710

Re: Do I live in a HCOL area?

Using housing as a measure, you could look at the Zumper monthly rent report and the top 10 most expenseive

https://www.zumper.com/blog/2019/04/zum ... -may-2019/
by CMD1
Mon Apr 22, 2019 4:37 pm
Forum: Personal Consumer Issues
Topic: Montana / Wyoming Summer Trip Ideas
Replies: 29
Views: 2644

Re: Montana / Wyoming Summer Trip Ideas

Glacier is amazing and most the campsites in the park are non reservable so arrive early. Not sure you would need to add Glacier on to the other destinations you mentioned but it is awesome. Alternatively you could do Glacier and north up to Banff. When we went to Glacier a couple years ago we arriv...
by CMD1
Mon Apr 01, 2019 3:04 pm
Forum: Personal Consumer Issues
Topic: Men's no iron dress shirt recommendations
Replies: 88
Views: 10685

Re: Men's no iron dress shirt recommendations

I really like Lands End. Mine seem to be lasting for years (At least 4+years so far). I am sure there is better but compared to Costco or many other low end shirts I find they are superior and it's all I am buying now.
by CMD1
Thu Mar 28, 2019 5:34 pm
Forum: Personal Consumer Issues
Topic: Why are used cars now so expensive?
Replies: 63
Views: 5879

Re: Why are used cars now so expensive?

The average new car purchase is $30k now. Cars have changed ALOT - technology, computers, safety upgrades. Backup cameras etc. These things aren't free.
by CMD1
Thu Feb 28, 2019 3:33 pm
Forum: Investing - Theory, News & General
Topic: When do you notice the compounding at work?
Replies: 137
Views: 29196

Re: When do you notice the compounding at work?

The OP mentions the last year or two. Well, calendar year 2018 was basically flat. I bet of your $180k you have a solid portion that is appreciation as opposed to contributions.
by CMD1
Mon Feb 25, 2019 7:11 pm
Forum: Personal Finance (Not Investing)
Topic: Who does their own taxes?
Replies: 111
Views: 8291

Re: Who does their own taxes?

Been using TaxAct for years and we have rental property.
by CMD1
Thu Jan 24, 2019 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: Help needed: wife seeking new job to escape megacorp hell
Replies: 58
Views: 6068

Re: Help needed: wife seeking new job to escape megacorp hell

Sounds like she is at a point where she just needs to move on no matter what because once you get to a point where you are pissed at your employer and feel you have been slighted, its hard to get back to a positive growth mindset and be productive again in the same environment. Plus, changing compan...
by CMD1
Wed Jan 16, 2019 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: Best kids savings account
Replies: 22
Views: 2325

Re: Best kids savings account

We literally just opened up savings accounts with our kids. We choose a local credit union that offered kids accounts that included a $20/yr rebate of kids activity fees (ie swimming lessons). The interest rate on the account is abysmal but they are 5 and 7 so it was more important to find something...
by CMD1
Mon Jan 07, 2019 2:19 am
Forum: Investing - Theory, News & General
Topic: Where does the 20% downpayment rule come from?
Replies: 3
Views: 878

Re: Where does the 20% downpayment rule come from?

Its actually more that 20% down was always the rule rather than the exception prior to the run up to '08. Government policy to increase home ownership and other factors led to low down and zero down lows but historically even 1980's, 1990's you needed 20% down. It seemed like common sense you needed...
by CMD1
Thu Jan 03, 2019 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Recent Engineering College Graduate can’t get job interviews, needs advice
Replies: 149
Views: 13882

Re: Recent Engineering College Graduate can’t get job interviews, needs advice

Does he have any working experience. I've found many new grads had 100% focus on school and have never worked. Even if it's unrelated to his degree it could be helpful.

If your not in a major metro, is he willing to move?
by CMD1
Wed Jan 02, 2019 6:45 pm
Forum: Personal Finance (Not Investing)
Topic: Time to Sell Rental Property?
Replies: 26
Views: 1980

Re: Time to Sell Rental Property?

Thanks for the input ... I'm still up in the air on how to minimize my capital gains taxes as I might consider doing a 1031 exchange as well and live in that new place Is that allowed in a 1031? I believe it has to be like kind, as in a rental for another rental. Unless you plan on renting and then...
by CMD1
Wed Jan 02, 2019 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Time to Sell Rental Property?
Replies: 26
Views: 1980

Re: Time to Sell Rental Property?

We consider this same thing from time to time. The biggest factors for us - the recapture tax hit if we don't 1031 is a deterrent to selling as we have had it as a rental for a decade plus. Other factors - cash flow positive on a 15 year mortgage means it's being paid down and will be paid for in a ...
by CMD1
Wed Jan 02, 2019 4:19 pm
Forum: Personal Investments
Topic: Another 401k vesting question
Replies: 4
Views: 279

Re: Another 401k vesting question

Sound right, assuming the employer matches each pay period as opposed to some who match once per year. Many plans also have a period of 3 months to a year before you are eligible to enroll and contribute that could affect this scenario. It's a bummer when you get stuck in an old school 5 year vestin...