Search found 73 matches

by NextMil
Mon Feb 19, 2018 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Is it wise for us to make a one-time lump sum mortgage payment?
Replies: 23
Views: 1180

Re: Is it wise for us to make a one-time lump sum mortgage payment?

Drop the $20k on it, recast in the process, and continue to pay the same payment you are currently making - essentially you will increase your monthly principal reduction. It accomplishes all of your goals, with some risk reduction in the process.
by NextMil
Wed Feb 07, 2018 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: Unincorporating? How easy to do? S corp to sole proprietorship?
Replies: 26
Views: 1564

Re: Unincorporating? How easy to do? S corp to sole proprietorship?

Not sure I understand your question. I was an S Corp in 2017 and will unincorporated in 2018. Am told I am better off on the tax front within my plan to max retirement by electing to unwind. I am not a professional, but my thinking in your situation would be that your taxes are your taxes depending ...
by NextMil
Wed Feb 07, 2018 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Unincorporating? How easy to do? S corp to sole proprietorship?
Replies: 26
Views: 1564

Re: Unincorporating? How easy to do? S corp to sole proprietorship?

Not a doc. My friction is maxing retirement contributions, and taking a reasonable salary. TBH, this is the first year I did an S-Corp, and hated the excesses paperwork/hoops. I am thrilled to be going back to Sole P, so much easier. CPA just told me that its much better to unwind given my prioritie...
by NextMil
Tue Feb 06, 2018 7:37 am
Forum: Personal Finance (Not Investing)
Topic: Unincorporating? How easy to do? S corp to sole proprietorship?
Replies: 26
Views: 1564

Re: Unincorporating? How easy to do? S corp to sole proprietorship?

CPA is recommending an unwinding of S Corp to deal with tax law. Don't have more information, yet.
by NextMil
Sat Feb 03, 2018 2:25 pm
Forum: Personal Consumer Issues
Topic: Life Balance of spending and saving
Replies: 54
Views: 4536

Re: Life Balance of spending and saving

Country club membership. More than just a pool, and you can get out of it later if you decide its not for you.
by NextMil
Fri Feb 02, 2018 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Unincorporating? How easy to do? S corp to sole proprietorship?
Replies: 26
Views: 1564

Re: Unincorporating? How easy to do? S corp to sole proprietorship?

With a five year lock out on re-election of S Corp, is it even worth considering returning to Sole P? I guess you are considering bird in hand, right? I had a cursory discussion with my CPA yesterday and he seemed to think we would still capture some of the 20% with the phase out. I am MFJ so not su...
by NextMil
Thu Feb 01, 2018 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Independent Consulting Liability
Replies: 15
Views: 734

Re: Independent Consulting Liability

Is the field highly litigious? Its very common to have a consulting agreement with pages full of clauses to protect client and consultant relationship. There is too little to go on here to see if you even need E&O, or just protect yourself within the contract by making sure you are covered. Post emp...
by NextMil
Thu Feb 01, 2018 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Unincorporating? How easy to do? S corp to sole proprietorship?
Replies: 26
Views: 1564

Re: Unincorporating? How easy to do? S corp to sole proprietorship?

I see. That makes sense, but the 20% is phase out though, right? So you should be able to capture a good bit of it regardless.
by NextMil
Thu Feb 01, 2018 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Unincorporating? How easy to do? S corp to sole proprietorship?
Replies: 26
Views: 1564

Re: Unincorporating? How easy to do? S corp to sole proprietorship?

If you can get the taxable income below 315k with 401k etc., then full pass through deduction in play for 2018. That will probably be entire income as sole prop. Distribution only as s-corp. If so outweighs any medicare tax savings on distribution. Also easier to max out your 401k with more w2 or s...
by NextMil
Wed Jan 31, 2018 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Unincorporating? How easy to do? S corp to sole proprietorship?
Replies: 26
Views: 1564

Re: Unincorporating? How easy to do? S corp to sole proprietorship?

As crushing as the paperwork, hoops, and higher CPA fees are, you are much better off staying in an S Corp.
by NextMil
Tue Jan 30, 2018 6:37 am
Forum: Personal Consumer Issues
Topic: Certified Used BMW, Audi or Mercedes
Replies: 53
Views: 3921

Re: Certified Used BMW, Audi or Mercedes

Again, skip the CPO, and just get a used one under warranty. Just make sure you get all the known issues addressed in the final year of warranty, and you can find those on the countless forums and blogs devoted to these cars. As for Lexus vs German, lexus is cheaper to maintain, but its just not the...
by NextMil
Mon Jan 29, 2018 10:41 am
Forum: Personal Consumer Issues
Topic: Certified Used BMW, Audi or Mercedes
Replies: 53
Views: 3921

Re: Certified Used BMW, Audi or Mercedes

I love german cars. Find a good independent mechanic first and they can tell you what models to avoid etc. Why go certified? People turn in leases all the time. See if you can snag one within the warranty and before they make it CPO, because all you are paying for is a battery of tests on a vehicle ...
by NextMil
Sat Jan 27, 2018 6:22 pm
Forum: Local Chapters and Bogleheads Community
Topic: Post your Financial Milestone Announcements Here
Replies: 182
Views: 12818

Re: Can I be a member of the two comma club?

It’s absurd that anyone would suggest that home equity does not count towards net worth. Unless, of course, they are making up their own rules. I think absurd, respectfully, it too strong a word, as is the phrase making up their own rules. There is support for this in the definition of "accredited ...
by NextMil
Sat Jan 27, 2018 3:51 pm
Forum: Local Chapters and Bogleheads Community
Topic: Post your Financial Milestone Announcements Here
Replies: 182
Views: 12818

Re: Can I be a member of the two comma club?

It’s absurd that anyone would suggest that home equity does not count towards net worth. Unless, of course, they are making up their own rules.
by NextMil
Fri Jan 26, 2018 1:00 pm
Forum: Investing - Help with Personal Investments
Topic: Oops! Miscalculated International AA, should I just stick with it?
Replies: 19
Views: 931

Re: Oops! Miscalculated International AA, should I just stick with it?

How long ago? If its same day, you might be able to get your broker to make the change without any issue.
by NextMil
Fri Jan 26, 2018 12:56 pm
Forum: Investing - Help with Personal Investments
Topic: Buying a home - Financial Benefits? HCOL
Replies: 75
Views: 3401

Re: Buying a home - Financial Benefits? HCOL

Basically, I don’t care I just want to make sure I’m not way off base on my view of buying a home in my area (sort of “Why am I the only one that realizes it’s not an “investment”). I’m quite content and know my net worth is more than theirs with no debt - oh, and I can enjoy my weekends without wo...
by NextMil
Fri Jan 26, 2018 12:34 pm
Forum: Investing - Help with Personal Investments
Topic: Buying a home - Financial Benefits? HCOL
Replies: 75
Views: 3401

Re: Buying a home - Financial Benefits? HCOL

I think you get my point on the first house - BUYING is cheaper. Renting is $3000/month (and these houses go fast at that price) and buying is much cheaper, especially if you have 20% down. The bad part - I don't want to live in these houses. Soggy basements, crappy kitchens, flooring, bathrooms, r...
by NextMil
Fri Jan 26, 2018 12:11 pm
Forum: Investing - Help with Personal Investments
Topic: Buying a home - Financial Benefits? HCOL
Replies: 75
Views: 3401

Re: Buying a home - Financial Benefits? HCOL

Are you comparing like-same? When I look at rentals I look at the cheapest house I can get that my family fits in - $3000/month. That means to buy would e $450,000 When I look to buy (which I am now), I look to the house we want to LIVE in. Schools, space, light, comfort, neighborhood, commute, abi...
by NextMil
Fri Jan 26, 2018 11:51 am
Forum: Investing - Help with Personal Investments
Topic: Buying a home - Financial Benefits? HCOL
Replies: 75
Views: 3401

Re: Buying a home - Financial Benefits? HCOL

I don’t feel “pressure” to buy ... it just seems to be the “thing to do” across my friends / family / elders and I’m just making sure I’m not missing something / waaay off base on my views Strictly from a financial perspective - looks I’m right and would be way better off dumping that money into in...
by NextMil
Fri Jan 26, 2018 11:24 am
Forum: Personal Finance (Not Investing)
Topic: How to pay extra mortgage principal?
Replies: 11
Views: 787

Re: How to pay extra mortgage principal?

Glad to hear this worked out for you.
by NextMil
Thu Jan 25, 2018 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Thinking through Paying Down the Mortgage
Replies: 58
Views: 4271

Re: Thinking through Paying Down the Mortgage

We paid ours off a few months ago. From the link: http://www.mdmag.com/physicians-money-digest/investing/6-reasons-the-rich-should-pay-off-their-mortgage 3. Lower Marginal Utility of Extra Wealth This was the item that I most identified with. If your retirement savings are getting closer and closer...
by NextMil
Thu Jan 25, 2018 7:19 am
Forum: Personal Consumer Issues
Topic: Smart home lighting: which lights to automate?
Replies: 19
Views: 1589

Re: Smart home lighting: which lights to automate?

coalcracker wrote:
Thu Jan 25, 2018 12:52 am

THIS is exactly the type of setup I am looking to do. Thanks for the info.
No problem. Let me know if you have any follow up questions - feel free to PM. For the record my house was built in '78, and I didn't need to do any additional wiring with caseta.
by NextMil
Wed Jan 24, 2018 6:01 pm
Forum: Personal Consumer Issues
Topic: Lawn service etiquette
Replies: 36
Views: 3743

Re: Lawn service etiquette

Just be honest. Tell him that you didn't approve it, and didn't know it was coming. Ask for a cost breakdown and tell him that from here on out you need a schedule of services and the cost for the year. I have a lawn service and we agree on a contract at the beginning of the year with prices include...
by NextMil
Wed Jan 24, 2018 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Prioritizing paying down debt
Replies: 19
Views: 1495

Re: Prioritizing paying down debt

Okay with everyone's help, we have drafted a new plan that we feel pretty good about. We plan to pay off the 4.41 percent student loan with liquidated stocks/emergency fund leaving us at almost 5k in savings and about 8.8k on the SL. After looking at the time frame debt would be paid off we felt co...
by NextMil
Wed Jan 24, 2018 1:24 pm
Forum: Personal Consumer Issues
Topic: Smart home lighting: which lights to automate?
Replies: 19
Views: 1589

Re: Smart home lighting: which lights to automate?

I purchased a home that will need fairly extensive remodeling before we move, part of which will be an update of many of the (fluorescent) lighting fixtures. There is also some knob and tube wiring, so we will be doing close to a complete overhaul of the electrical system. As part of this, I'd like...
by NextMil
Wed Jan 24, 2018 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay extra mortgage principal?
Replies: 11
Views: 787

Re: How to pay extra mortgage principal?

In that case, if you live near Charlotte where they are headquartered I might drive it over and have a chat with them.
by NextMil
Wed Jan 24, 2018 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking through Paying Down the Mortgage
Replies: 58
Views: 4271

Re: Thinking through Paying Down the Mortgage

I'm a little reluctant to increase my 403b contributions since it's automated from employer...just a bit of a hassle to tinker with it too much. Again, it's only $400 a month or so that I have to "play" with. Having the house paid off prior to a move, and thereby being able to buy the next house wi...
by NextMil
Wed Jan 24, 2018 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay extra mortgage principal?
Replies: 11
Views: 787

Re: How to pay extra mortgage principal?

I just pulled the google reviews on the company and they seem like a horrific company. If I were in your shoes, I might consider taking the loan to someone else and paying the $100k in the process of refinancing.
by NextMil
Wed Jan 24, 2018 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Family dilemma involving wills/trusts
Replies: 24
Views: 2571

Re: Family dilemma involving wills/trusts

Books on Wills, Trusts, and Estates Beyond the Grave: The Right Way and the Wrong Way of Leaving Money to Your Children (And Others) https://www.amazon.com/gp/product/0887307035/ref=oh_aui_search_detailpage?ie=UTF8&psc=1 Seek legal counsel ASAP. j :D Timely, as I am in the process of developing a w...
by NextMil
Wed Jan 17, 2018 3:11 pm
Forum: Investing - Help with Personal Investments
Topic: Investing beyond 401K / Roth IRA
Replies: 2
Views: 205

Re: Investing beyond 401K / Roth IRA

There is a wiki that shows investment order, and provides options on other items you could invest in - some pre-tax - check it out on the main bogleheads page. Once you fill those up its moves to taxable investments. I don't have experience in real estate, but what I have gathered is that generally ...
by NextMil
Fri Jan 12, 2018 9:42 am
Forum: Personal Finance (Not Investing)
Topic: "Emergency Fund" Strategy
Replies: 39
Views: 4093

Re: "Emergency Fund" Strategy

remomnyc wrote:
Thu Jan 11, 2018 1:51 pm

You should not be investing if you don't have an adequate emergency fund. Fill up the emergency fund, then turn to investing at whatever allocation fits your ability, need, and willingness to take risk.
+1
by NextMil
Fri Jan 12, 2018 9:32 am
Forum: Personal Consumer Issues
Topic: portable chargers for electronic devices
Replies: 35
Views: 1888

Re: portable chargers for electronic devices

This one is my favorite so far, but it won't charge a laptop. Not having to fool with finding a cord is huge.

https://www.amazon.com/Jackery-Bolt-Por ... ds=jackery
by NextMil
Fri Jan 12, 2018 9:21 am
Forum: Personal Consumer Issues
Topic: Paid mortgage: Now what do I do?
Replies: 21
Views: 2704

Re: Paid mortgage: Now what do I do?

Nothing substantive to add, just want to say nice work and that I am definitely jealous.
by NextMil
Wed Jan 10, 2018 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Should I use a CPA for my taxes this year?
Replies: 9
Views: 755

Re: Should I use a CPA for my taxes this year?

Taxes are one area where I don't mind hiring a good professional at market rate, rather than DIY'ing. If your wife is a 1099, is she operating under Sole Proprietorship or doing an S-Corp? S-Corp while more complicated could save you a bunch of money, which is what my CPA pointed out to me. He has s...
by NextMil
Wed Jan 10, 2018 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: "Emergency Fund" Strategy
Replies: 39
Views: 4093

Re: "Emergency Fund" Strategy

I agree. Much too complicated. You are probably overthinking it, which all of us tend to do. I would figure out what you are on the hook for monthly (that is bare bones, no frills - eliminate anything you can live without in terms of costs) and multiply by 6 - that should be your emergency fund numb...
by NextMil
Wed Jan 10, 2018 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Sell bonds, pre-pay mortgage instead?
Replies: 10
Views: 805

Re: Sell bonds, pre-pay mortgage instead?

I have a similar mortgage rate and timeline left on my mortgage, so I am guessing that this is not a ton of cash ratio wise if it only knocks off a year. Do you have sufficient liquidity in other places you can access if need be? If so, IWIYS, I would drop it on the mortgage and slide up in the amor...
by NextMil
Wed Jan 03, 2018 6:38 am
Forum: Personal Finance (Not Investing)
Topic: Downloading eStatements from Schwab
Replies: 4
Views: 424

Re: Downloading eStatements from Schwab

Is there an easier way to download eStatements from Schwab? It is pathetically cumbersome and painful to pull statements, trade confirmations, tax forms from the various accounts… If anyone has a better way to receive these e-statements, please kindly advise. Many thanks. If you go to the page list...
by NextMil
Fri Dec 22, 2017 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: pay down mortgage or invest in taxable
Replies: 73
Views: 6428

Re: pay down mortgage or invest in taxable

We are getting way off topic here, but that seems like a rather pessimistic viewpoint, and the reason I bring this up is I had the same unfounded fears. I started my own company and every year I would say to myself this year was better than the last, but how long will this last and when will this a...
by NextMil
Fri Dec 22, 2017 7:24 am
Forum: Personal Finance (Not Investing)
Topic: pay down mortgage or invest in taxable
Replies: 73
Views: 6428

Re: pay down mortgage or invest in taxable

We are getting way off topic here, but that seems like a rather pessimistic viewpoint, and the reason I bring this up is I had the same unfounded fears. I started my own company and every year I would say to myself this year was better than the last, but how long will this last and when will this al...
by NextMil
Thu Dec 21, 2017 10:46 pm
Forum: Personal Finance (Not Investing)
Topic: pay down mortgage or invest in taxable
Replies: 73
Views: 6428

Re: pay down mortgage or invest in taxable

I'm trying to get to FI... I thought I would pay it off as a goal and before now I never intended to pay it off because of the low interest rate and the inflation advantage ... And the deduction and but I wanted to make sure I wasn't being crazy by never paying it off. jessikaur, You have unstable ...
by NextMil
Thu Dec 21, 2017 10:23 pm
Forum: Personal Finance (Not Investing)
Topic: pay down mortgage or invest in taxable
Replies: 73
Views: 6428

Re: pay down mortgage or invest in taxable

I'm trying to get to FI... I thought I would pay it off as a goal and before now I never intended to pay it off because of the low interest rate and the inflation advantage ... And the deduction and but I wanted to make sure I wasn't being crazy by never paying it off. jessikaur, You have unstable ...
by NextMil
Thu Dec 21, 2017 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: pay down mortgage or invest in taxable
Replies: 73
Views: 6428

Re: pay down mortgage or invest in taxable

I agonize over this issue with a 2.9% mortgage on a 15year fixed with 10 years to go. I have finally come to the conclusion that I split my excess cash between principal reductions and taxable, and then I find a thread like this and start the process over of beating up myself over my decision in bo...
by NextMil
Thu Dec 21, 2017 11:13 am
Forum: Personal Finance (Not Investing)
Topic: pay down mortgage or invest in taxable
Replies: 73
Views: 6428

Re: pay down mortgage or invest in taxable

Thx. That is helpful to hear.
by NextMil
Thu Dec 21, 2017 11:10 am
Forum: Personal Finance (Not Investing)
Topic: availability of nonstardard mortgage term
Replies: 6
Views: 259

Re: availability of nonstardard mortgage term

I would take the 15, but if you are worried about it, I would get the 20, and just accelerate your payments.
by NextMil
Thu Dec 21, 2017 10:54 am
Forum: Personal Finance (Not Investing)
Topic: pay down mortgage or invest in taxable
Replies: 73
Views: 6428

Re: pay down mortgage or invest in taxable

I agonize over this issue with a 2.9% mortgage on a 15year fixed with 10 years to go. I have finally come to the conclusion that I split my excess cash between principal reductions and taxable, and then I find a thread like this and start the process over of beating up myself over my decision in bot...
by NextMil
Mon Dec 18, 2017 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: Reposession - worth it?
Replies: 17
Views: 2030

Re: Reposession - worth it?

Absolutely don't let it get repossessed. If you want to get rid of try to get a personal loan for the difference of private party sales price and sell it yourself. +1 Do this. Heck, status quo would be better than a repo. I appreciate the willingness to get radical, but channel getting radical to g...
by NextMil
Fri Dec 15, 2017 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loans vs 401K
Replies: 11
Views: 795

Re: Student Loans vs 401K

Forego the 401k until you have 6 months saved. Its clearly creating stress and anxiety for you, but I would race to get that six months done, like cutting back on everything you possibly can until its done, and up your workload to bill as many hours as you humanly can. Then re-engage on the 401k. Yo...
by NextMil
Fri Dec 15, 2017 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Recast mortgage as part of a pay down strategy
Replies: 60
Views: 3142

Re: Recast mortgage as part of a pay down strategy

Ok. So I read up a bit more on both sides of the argument. Here is where I landed in case anyone cares. I am going to split the difference. I will continue to plow in a bunch extra but only enough to do the yearly recast, and use the remainder split between CDs, and S&P index funds with the hopes of...
by NextMil
Fri Dec 15, 2017 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Recast mortgage as part of a pay down strategy
Replies: 60
Views: 3142

Re: Recast mortgage as part of a pay down strategy

I get the liquidity side of the argument. It makes perfect sense to me, and its my only hesitation in the pay down/off process. The CDs are provocative, as I said earlier, its definitely given me something to think about in terms of a better strategy. I do think there is value in the recast process ...
by NextMil
Fri Dec 15, 2017 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Home owner liablity questions - parcel delivery
Replies: 19
Views: 1958

Re: Home owner liablity questions - parcel delivery

koozie wrote:
Fri Dec 15, 2017 11:41 am
I have an umbrella policy just so I don't have to worry about these things.
Bingo. Chalk it up to insure so its not a problem until its a problem that you have already accounted for. I wouldn't lose sleep over this.