Search found 34 matches

by mike_in_ny
Mon Nov 23, 2020 9:57 pm
Forum: Personal Consumer Issues
Topic: Car will fit in garage with one inch to spare - thoughts?
Replies: 72
Views: 5952

Re: Car will fit in garage with one inch to spare - thoughts?

I second the comment above about hanging a marker ball from the ceiling such that when you touch it with the windshield you stop pulling forward. We do this and its very easy to always park within 0.25" of perfect. I would be more concerned if it was tight width wise, than length because of the...
by mike_in_ny
Sun Nov 22, 2020 12:03 pm
Forum: Investing - Theory, News & General
Topic: How to teach your kids about money/wealth
Replies: 23
Views: 1348

Re: How to teach your kids about money/wealth

I think the important thing is to talk about money matters as they grow up. This goes a long way to build the foundation and for them to get an idea of your money values. We've done a lot of the things you hear about including allowance, having them have a "clothing allowance" for back to ...
by mike_in_ny
Sat Nov 21, 2020 2:18 pm
Forum: Personal Investments
Topic: Maximize after tax returns: question on understanding
Replies: 23
Views: 836

Re: Maximize after tax returns: question on understanding

I agree with the idea of putting bonds in tax advantaged accounts, but have actually embarked on the following strategy. I'd appreciate comments if I'm view this poorly. My current asset allocation is 80/20 (stock/bond). 1) While I'm working (High income and high tax state) - keep fairly large amoun...
by mike_in_ny
Fri Nov 06, 2020 6:52 am
Forum: Personal Consumer Issues
Topic: What do you give your adult children at holiday time?
Replies: 175
Views: 12349

Re: What do you giver your adult children at holiday time?

Gift Certificate for a local restaurant. Even if you're afar, you'll be amazed at how helpful places are to mail it to you, etc. Nobody needs another thing around the house in my family, but this is a nice way for them to think about us when they're using it. Even if its just when they find it in th...
by mike_in_ny
Sat Oct 31, 2020 8:02 am
Forum: Personal Consumer Issues
Topic: Recirculator for tankless hot water heater?
Replies: 16
Views: 1192

Re: Recirculator for tankless hot water heater?

We also found that when the incoming water is cold (winter) that we could not get the water hot enough with our tank-less system (to fill up the bathtub, for example). We added a hot water tank to go with our oil-fueled furnace with baseboard heating. It is setup such that the tank essentially acts ...
by mike_in_ny
Sun Oct 25, 2020 1:00 pm
Forum: Personal Investments
Topic: Portfolio Analysis: Can We Retire Early?
Replies: 14
Views: 2276

Re: Portfolio Analysis: Can We Retire Early?

I agree with the other feedback, that you look reasonably good, but I would recommend sharpening your pencil on what
your spending will be, including your health insurance.
by mike_in_ny
Fri Oct 23, 2020 6:40 am
Forum: Personal Investments
Topic: Going “all in” on paying mortgage
Replies: 178
Views: 14439

Re: Going “all in” on paying mortgage

As others have noted, liquidity is important to consider when you are doing this. I went "all-in" on paying down the mortgage when the following was true: B>A A = Total liquid financial assets (taxable, 401k, etc. but not house) / spending rate B = (Total liquid FAs- mortgage amount) / (sp...
by mike_in_ny
Fri Oct 02, 2020 8:02 pm
Forum: Personal Investments
Topic: 529 vs Taxable Account
Replies: 49
Views: 3626

Re: 529 vs Taxable Account

I've said this on different threads here before -- but you really need to think about what asset allocation is in 529. If you get no gains, there is no benefit to the tax-free account....so you sort of need to swing for the fences (perhaps compensating elsewhere for ideal AA) until you get some gain...
by mike_in_ny
Wed Aug 12, 2020 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Career advice
Replies: 88
Views: 8124

Re: Career advice

I would not involve my former boss in any meetings with my current management, nor try to "litigate" this by dredging up email "evidence" to try to prove or disprove a particular point. These issues are not point - counterpoint type of discussions. I'd directly ask my boss' boss ...
by mike_in_ny
Fri Jul 03, 2020 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with all this MONEY ?
Replies: 201
Views: 21292

Re: What to do with all this MONEY ?

Buy a beach or lake house -- someplace the kids and grand-kids will want to come visit you.

Beyond that, charity.
by mike_in_ny
Fri Jul 03, 2020 8:52 am
Forum: Personal Finance (Not Investing)
Topic: considering paying cash for house- What would you do?
Replies: 54
Views: 3786

Re: considering paying cash for house- What would you do?

This is really a liquidity question to me -- I don't think you have enough assets to go all in
on the house with cash. If there were a significant benefit/discount to a cash offer, that
may change my mind, but as it is, I'd use the mortgage.
by mike_in_ny
Fri Jun 12, 2020 11:45 pm
Forum: Personal Consumer Issues
Topic: Really hard to avoid "Keeping up with the Joneses"!
Replies: 313
Views: 32645

Re: Have you ever kept up with the Jones’?

Keep up with the Jones? Truthfully, as a BH, I've likely surpassed them. Of course, I don't have their financial advisors nor their hot stocks that they rave about....but somehow I think the math will say my index portfolio beats most of them. That said, here are some thoughts: 1) Is the driving for...
by mike_in_ny
Fri Jun 05, 2020 9:37 pm
Forum: Personal Investments
Topic: Vanguard vs. Fidelity
Replies: 123
Views: 9832

Re: Vanguard vs. Fidelity

Does anyone else have any input on difference between the "big 3" companies (Schwab, Vanguard, Fidelity) in terms of their distribution of capital gains? I NEVER get capital gains distributions on my Vanguard funds (all core index). In contrast, I get ~0.5% distribution on my Schwab S&...
by mike_in_ny
Thu Jun 04, 2020 5:45 am
Forum: Personal Finance (Not Investing)
Topic: Late husband's life insurance from childhood
Replies: 21
Views: 2682

Re: Late husband's life insurance from childhood

Sorry for your loss. My parents had taken one of these policies out on my when I was 2-3 months old, through a company called SBLI (Savings Bank Life Insurance) and truthfully it just sort of snowball in the background. They were getting annual dividend statements and at some point had them transfer...
by mike_in_ny
Sat May 16, 2020 8:02 am
Forum: Personal Finance (Not Investing)
Topic: [any downside to telling your parents your income?]
Replies: 32
Views: 2618

Re: [any downside to telling your parents your income?]

I think you should share the news / recognition of "top salesperson" etc. My view is that people
have a hard time putting today's salaries in the context of theirs from 30 years ago.

But then again, I think my mom still inherently believes a candy bar is $.20.....and a movie
is $3.
by mike_in_ny
Sun Mar 29, 2020 1:48 pm
Forum: Personal Investments
Topic: Diversifying bond funds in taxable account for high-income?
Replies: 7
Views: 397

Re: Diversifying bond funds in taxable account for high-income?

I have been using an intermediate term, tax exempt, fund (VWIUX) for a similar situation and historically have been reasonably happy. However, I have to admit that I was surprised at how poorly it did these last few weeks relative to other bond portfolios. It has since recovered / closed the gap, bu...
by mike_in_ny
Sat Mar 21, 2020 10:02 am
Forum: Investing - Theory, News & General
Topic: I am up 7%!
Replies: 11
Views: 2430

Re: I am up 7%!

I appreciate this post -- was not sure what to expect when I read the title.

I've been buy and hold through it all, and looking at the Vanguard site, my 10 year return
3/1/10 to 3/20/20 has been 8.1%. I'll take it!

Thanks for being an optimist -- we need more of that these days.
by mike_in_ny
Sat Mar 21, 2020 7:56 am
Forum: Investing - Theory, News & General
Topic: Team Buy and Hold
Replies: 8
Views: 949

Re: Team Buy and Hold

As my user name notes, I'm in NY, near one of the hot-zone that everyone talks about. I'm considerably older and am (was?) within five years of looking to transition into something different career wise. My allocation plan was 80/20, with 70/30 US/Int within the equities. The paper loss of recent we...
by mike_in_ny
Wed Mar 18, 2020 11:46 pm
Forum: Personal Consumer Issues
Topic: How can bogleheads help during this crisis?
Replies: 20
Views: 1345

Re: How can bogleheads help during this crisis?

1) If your local restaurant is closed, but still offering take-out.....spend some money with them -- they're going to need the revenue. 2) Continue with charitable donations, the organizations will have a great need coming out of this. 3) Be thankful. Many on this board are very well off, and financ...
by mike_in_ny
Sat Nov 23, 2019 7:51 am
Forum: Personal Finance (Not Investing)
Topic: switch to manager role with 10% less pay, good idea?
Replies: 36
Views: 3116

Re: switch to manager role with 10% less pay, good idea?

My advice is always the same: figure out what you want to do with your life (Family, kids,
location to live, hobbies, etc) and then figure out what you can do to achieve your career goals.

I personally would not move a HS Jr unless absolutely necessary.....too much downside with
little upside.
by mike_in_ny
Wed Nov 20, 2019 7:02 am
Forum: Personal Investments
Topic: 529 in S&P fund, child senior in HS
Replies: 18
Views: 1133

Re: 529 in S&P fund, child senior in HS

"When you've won the game, stop playing."

I'd take the money off the table.
by mike_in_ny
Wed Nov 13, 2019 11:45 pm
Forum: Personal Investments
Topic: How to combine finances with your spouse? Recently married/early30s
Replies: 72
Views: 6488

Re: How to combine finances with your spouse? Recently married/early30s

I don't understand why folks are so critical of the poster. This is a young couple figuring it out. When Anna Nicole Smith married (and they say it wasn't for money!), I'm sure many of you thought Marshall was a fool for not keeping "his" assets. How is this situation (with two less commas...
by mike_in_ny
Tue Nov 12, 2019 7:03 am
Forum: Personal Investments
Topic: UTMA v. 529 in no-tax state
Replies: 10
Views: 807

Re: UTMA v. 529 in no-tax state

My suggestion, being 18 years ahead of you, is the 529. You will likely have plenty of taxable money in various forms when he/she hits college age. The 529 truly is a tax wonder and not having to deal with dividends or growing cap gains makes it easy through time. I will admit now that I'm in withdr...
by mike_in_ny
Fri Nov 08, 2019 6:09 am
Forum: Personal Investments
Topic: Please critique IPS
Replies: 4
Views: 646

Re: Please critique IPS

As a template, I think this IPS is good. It clearly focuses on asset allocation, which to me is the foundation of any investment policy. What you choose for numbers is somewhat irrelevant for the structure of the policy. I like the fact that you describe the "why" so that when questioning ...
by mike_in_ny
Mon Aug 19, 2019 8:39 pm
Forum: Personal Investments
Topic: 529s: One for family vs. One per kid
Replies: 35
Views: 2629

Re: 529s: One for family vs. One per kid

If there is any chance you will have too much money in the account, I'd propose that you set them up in a slightly different (but more complicated) way. I'd open additional accounts such that all the contributions in each account were of the same cost basis, even if you needed to use different state...
by mike_in_ny
Thu Aug 01, 2019 6:23 am
Forum: Personal Finance (Not Investing)
Topic: How do you decide what car to buy for your kid
Replies: 91
Views: 4874

Re: How do you decide what car to buy for your kid

I'm going to propose a different option that while not Boglehead-like is worth considering: lease a new low end car. If you look at stripped down cars Civics, Hyundai, etc, you can often get a brand new car with all the latest safety features and without any headaches of maintenance for less than $2...
by mike_in_ny
Fri Jul 27, 2018 6:43 am
Forum: Personal Investments
Topic: Biggest financial decision of my life: selling a big wad of options
Replies: 46
Views: 6020

Re: Biggest financial decision of my life: selling a big wad of options

I also work in Tech and have seen it before. While difficult to do (FOMO), the smart decision is to sell a significant portion to lock in gains and lifestyle. Even the multi-billionaires founders that we all read about at IPO lock in their gains (often $20-50M) as soon as they can, while letting the...
by mike_in_ny
Tue Jun 12, 2018 9:11 pm
Forum: Personal Investments
Topic: Taking $1M+ Long Term Capital Gains
Replies: 74
Views: 10189

Re: Taking $1M+ Long Term Capital Gains

I agree that you shouldn't let taxes prevent you from executing your investment plan, whatever that is. Many people have been in similar situations with Options or RSUs and have kicked themselves waiting for best tax treatment. That said, I'd suggest loading up a Donor Advised Fund if that's your th...
by mike_in_ny
Sat May 26, 2018 8:47 am
Forum: Investing - Theory, News & General
Topic: Couple of questions about passages from Bogle's book "Enough"
Replies: 19
Views: 3116

Re: Couple of questions about passages from Bogle's book "Enough"

I don't think that he's talking about the buy/sell of a stock when he refers to the asymmetry. I think he's talking about Wall Street "products." The best example I can think of for this is an annuity. The buyer has only a fraction of the understanding of the contract that the seller has p...
by mike_in_ny
Thu May 24, 2018 1:45 am
Forum: Personal Investments
Topic: Parents with pre-K kids and 529 target
Replies: 50
Views: 4100

Re: Parents with pre-K kids and 529 target

I'm on the back half of this decision now, with kids in 7th, 8th, and 12th grade, and struggled with the similar questions. I don't have an answer, but some thoughts that may help. As background, between the 3 kids, I have about $500k in their 529s, more than half of which is growth. I view this as ...
by mike_in_ny
Thu Mar 22, 2018 5:40 am
Forum: Personal Finance (Not Investing)
Topic: What Budget? Do you keep one?
Replies: 116
Views: 10679

Re: What Budget? Do you keep one?

We do not keep a budget, but what we do is track our spending. To me this is the most valuable thing that you can do to understand your finances. I don't go crazy--only 10 categories. It takes about 15 minutes each month and I use an old fashioned self-made spreadsheet. Some categories are surprisin...
by mike_in_ny
Wed Dec 27, 2017 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax Online vs. Download
Replies: 34
Views: 9855

Re: Turbotax Online vs. Download

I had been doing the cloud version of Turbotax these last few years without issue. Last year, I ran into a problem, with the lack of ability to file multiple returns under the same purchase. My 17 year-old daughter had some small capital gains in addition to summer income, and because of that, could...
by mike_in_ny
Sat Dec 23, 2017 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 886
Views: 73896

Re: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]

I have not seen a discussion related to dependent children in the college-age category. I understand that the $2k tax credit benefit is for children up through age 16, and there are no individual deductions anymore. So I'm thinking about what that means for those of us with a kid that is over 16, bu...