Search found 88 matches

by slalom
Sat Jan 02, 2021 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2397
Views: 546648

Re: Share your net worth progression

alexL wrote: Sat Jan 02, 2021 1:38 am For reference, here is the latest professional study for the retirement savings by age:
So just to confirm, this study is household not single person?

Makes a huge difference especially for two professionals..
by slalom
Fri Jan 01, 2021 11:25 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2397
Views: 546648

Re: Share your net worth progression

41, Single, VHCOL (These are all EoY and include home equity) 2001 - ~$0 - broke, just graduated college - no loans but wanted to be in the arts 2002 - ~$0 - making enough to get by, zero savings after rent etc 2003 - “ 2004 - “ 2005 - ~$? - got a job in tech, but it was a small company run by a mis...
by slalom
Mon Nov 16, 2020 10:47 pm
Forum: Personal Finance (Not Investing)
Topic: Can you upgrade a BoA credit card but not change the number/exp/etc?
Replies: 3
Views: 385

Can you upgrade a BoA credit card but not change the number/exp/etc?

I've been using BoA Cash Rewards for cash back for a long time now. I'd like to upgrade to the BoA Premium Rewards card, but I have such an incredible amount of things tied to auto-pay on my current card, not to mention it takes me about 2 years to memorize all my card info and be able to use it wit...
by slalom
Sat Oct 31, 2020 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax 2020 available Nov 4
Replies: 86
Views: 10192

Re: TurboTax 2020 available Nov 4

I wish the web version wasn’t typically several weeks later.
by slalom
Thu Oct 22, 2020 1:03 am
Forum: Personal Finance (Not Investing)
Topic: [How to determine budget for toys/luxuries?]
Replies: 54
Views: 4636

Re: [How to determine budget for toys/luxuries?]

Watches are an interesting discussion topic because brands like Rolex and Patek (at least some of their collections) are likely to retain and even grow in value. Many lesser brands will depreciate. A new car will always depreciate. A vintage car you spend quite a bit on but work on yourself to get i...
by slalom
Sun Sep 06, 2020 6:22 pm
Forum: Personal Investments
Topic: Ways to max out 401k (including employer contribution)
Replies: 5
Views: 1049

Re: Ways to max out 401k (including employer contribution)

thank you both, makes more sense now!
by slalom
Thu Sep 03, 2020 10:05 pm
Forum: Personal Investments
Topic: Ways to max out 401k (including employer contribution)
Replies: 5
Views: 1049

Ways to max out 401k (including employer contribution)

I realize the personal contribution limit is $19,500 (I do max these days) and my employer does a 50% match up to 6% of income. I realize that's not great terms and plenty of places match 100% up to 6% or even more. But now, the $57,000 combined employee + employer limit. Even if you had 100% match ...
by slalom
Tue Aug 04, 2020 4:38 am
Forum: Personal Finance (Not Investing)
Topic: Thinking of buying a vacation home in NC mountains and doing Airbnb. Bad idea?
Replies: 66
Views: 6999

Re: Thinking of buying a vacation home in NC mountains and doing Airbnb. Bad idea?

The big 'unknown' to me is the location and how likely renters are to find the place desirable. I've spent some time at a house in the mountains near Brevard, NC near the Great Smoky Mountains. Very nice, however it didn't seem like an area too bustling with vacationers other than people driving thr...
by slalom
Mon Jan 27, 2020 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Torn Between Aggressive Home Payoff or Investing
Replies: 67
Views: 7264

Re: Torn Between Aggressive Home Payoff or Investing

I was in nearly the same exact position as you down to the numbers. I made the decision to pay a lump sum at the end of the year from bonus while also increasing my extra principal amount once a year (for the whole year). What seemed like a far away payoff date is starting to feel close now and i do...
by slalom
Sat Jan 18, 2020 7:39 pm
Forum: Personal Investments
Topic: 401k - time to make changes?
Replies: 14
Views: 1258

Re: 401k - time to make changes?

Thank you very much for all the advice and especially ruralavalon for the eye popping reply!
by slalom
Sat Jan 18, 2020 6:44 am
Forum: Personal Investments
Topic: 401k - time to make changes?
Replies: 14
Views: 1258

Re: 401k - time to make changes?

Do have a strong preference and belief that tilting to one sector is still a good idea? If so, figure out what that tilt should be (whether to technology stocks, or value stocks, or whatever). Otherwise (and this is my suggestion) I think you should consolidate what you have into something resembli...
by slalom
Sat Jan 18, 2020 6:42 am
Forum: Personal Investments
Topic: 401k - time to make changes?
Replies: 14
Views: 1258

Re: 401k - time to make changes?

Is 401k the only account that you contribute to? No Roth/Trad IRA or Brokerage/after-tax account? I see a VG Tot Bond (VBTLX) and VG Tot Intl Stock (VTIAX). For a total stock for US, VG Inst Index / VG SmallCAp / JPM Mid Cap might all work in some %. I am not an expert on this and hope others will ...
by slalom
Tue Jan 14, 2020 1:53 pm
Forum: Personal Investments
Topic: 401k - time to make changes?
Replies: 14
Views: 1258

401k - time to make changes?

Hi there - another portfolio thread. I'm afraid I'm not going to fill out the giant recommended template in the sticky but this should be enough: Age: 40 Expected Retirement: ~65-70? State: CA No debt outside mortgage (which will be paid off in 2025) I max out 401k every year now - didn't start cont...
by slalom
Fri Jan 10, 2020 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: What age did you reach 100K networth?
Replies: 433
Views: 95198

Re: What age did you reach 100K networth?

Age 31, i was absolutely broke until 26.
by slalom
Fri Jan 10, 2020 6:41 am
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 1134
Views: 120339

Re: Why are you NOT buying rental properties?

For lack of a better term i think the ‘class’ of people that rent varies greatly with location. A renter in an area with cheap homes is much less likely to be financially stable and reliable than e.g. San Francisco. The chances of a professional paying $3500/mo destroying your property or getting ev...
by slalom
Fri Jan 10, 2020 1:20 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2397
Views: 546648

Re: Share your net worth progression

Single, VHCOL (These are all EoY and include home equity) 2001 - ~$0 - broke, just graduated college - no loans but wanted to be in the arts 2002 - ~$0 - making enough to get by, zero savings after rent etc 2003 - “ 2004 - “ 2005 - ~$? - got a job in tech, but it was a small company run by a miserl...
by slalom
Thu Jan 09, 2020 5:04 pm
Forum: Personal Investments
Topic: Sanity check - Vanguard Backdoor Roth IRA year?
Replies: 9
Views: 693

Re: Sanity check - Vanguard Backdoor Roth IRA year?

The other reason i was confused was in the physicianonfire site (not sure if I can link it here?), there's two different Step 2 sections one for mutual funds and one for brokerages. The former talks about needing to choose a tax year when converting to Roth IRA, the latter (what I"m doing) doe...
by slalom
Thu Jan 09, 2020 4:31 pm
Forum: Personal Investments
Topic: Sanity check - Vanguard Backdoor Roth IRA year?
Replies: 9
Views: 693

Re: Sanity check - Vanguard Backdoor Roth IRA year?

Thanks for the clarifications - I think this is what I did/will do: January 2018 - created traditional IRA account, deposited $5,500 (not sure what tax year, can i find that?), converted to roth IRA January 2019 - deposited $6,000 (this must have been for 2019 tax year since it shows i contributed t...
by slalom
Thu Jan 09, 2020 5:21 am
Forum: Personal Investments
Topic: Dividends not working how I thought they did.
Replies: 69
Views: 10734

Re: Dividends not working how I thought they did.

Then create your own dividend by selling appreciated shares whenever you feel like it along the way at CG tax rate. Most people probably reinvest them anyway in the company invested if it's a single stock so the "gloom and doom" you mentioned still applies. This reminds me - what I really...
by slalom
Thu Jan 09, 2020 3:33 am
Forum: Personal Investments
Topic: Sanity check - Vanguard Backdoor Roth IRA year?
Replies: 9
Views: 693

Sanity check - Vanguard Backdoor Roth IRA year?

This is the second year I'll be doing a Backdoor Roth IRA conversion on Vanguard. Some of the 'step by step' sites are now differing quite a bit vs the current prompts that come up when doing so. For example they now have a direct Convert to Roth IRA button on Traditional IRA accounts. Last year I r...
by slalom
Wed Jan 08, 2020 1:31 am
Forum: Personal Finance (Not Investing)
Topic: Living in a HCOL and making a middle class salary is a struggle
Replies: 340
Views: 21229

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

ohai wrote: Tue Jan 07, 2020 5:48 pm Teachers in Westchester get $100k salaries with tenure?
Now you know why the property taxes are so high.
by slalom
Sun Dec 15, 2019 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Fell asleep at the wheel - Predicting a 2019 tax underpayment penalty
Replies: 31
Views: 4248

Re: Fell asleep at the wheel - Predicting a 2019 tax underpayment penalty

Option #1.

I did it last year and will again need to this year.
by slalom
Tue Sep 17, 2019 4:21 am
Forum: Personal Finance (Not Investing)
Topic: Tax avoidance and estate planning ‘for the rich’?
Replies: 61
Views: 7313

Tax avoidance and estate planning ‘for the rich’?

I realize this is a vague request but there is always a lot of discussion in the media and punditry about how the super wealthy can hire teams of lawyers to accumulate more money via avoiding taxes and shielding assets etc. but I never see any in-depth discussions about what it is exactly they’re do...
by slalom
Tue Sep 17, 2019 4:04 am
Forum: Personal Finance (Not Investing)
Topic: Bay Area teacher saving half my income – why the doubt? (and asking more questions)
Replies: 508
Views: 35257

Re: Bay Area teacher saving half my income – why the doubt? (and asking more questions)

Not to be flip about the question posed in the subject line - the doubt about that might be that most Bay Area teachers make much less. A quick google says the average is about $70k.
by slalom
Sun Mar 03, 2019 4:32 am
Forum: Personal Finance (Not Investing)
Topic: ESPP at tax time
Replies: 8
Views: 952

Re: ESPP at tax time

Also, we transferred some shares from the company custodian to our discount brokerage and sold them from there. Should I just take whatever cost basis numbers I receive from them and proceed with them or do I need to check for any gotchas? If so, what kind of gotchas should I look for? Would apprec...
by slalom
Sun Mar 03, 2019 4:26 am
Forum: Personal Finance (Not Investing)
Topic: ESPP at tax time
Replies: 8
Views: 952

Re: ESPP at tax time

I buy-and-hold until ESPP shares are eligible for a qualified disposition. I recently sold a couple years' worth (first time with new company) and searched for information on 2019 tax consequences. I found this link the most useful of the ones I explored: https://financialgeekery.com/2012/05/15/the...
by slalom
Sat Mar 02, 2019 5:21 am
Forum: Personal Finance (Not Investing)
Topic: If you currently or are planning to spend over $120k/year in retirement, what is your projected budget?
Replies: 196
Views: 16505

Re: If you are currently or planning to spend over $120k/year in retirement, what is your projected budget?

Admiral wrote: Tue Feb 26, 2019 12:33 pm Current dollars, $120-150k in 8-10 years

Per month, high estimates:

Travel and misc: $5000
$5000/mo for travel and misc?
by slalom
Sat Mar 02, 2019 5:12 am
Forum: Personal Finance (Not Investing)
Topic: Trying to understand how I got hit with such a big amount in taxes owed
Replies: 40
Views: 6055

Re: Trying to understand how I got hit with such a big amount in taxes owed

I saw a study a few days ago that estimated 10-11 million households will actually see a tax rate increase in 2018 versus 2017 because of the new tax structure. So it's not necessarily all due to withholding issues. This is mostly caused by the SALT $10k deduction limit, and so affects high earners...
by slalom
Thu Feb 14, 2019 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Filing taxes ASAP and ignoring corrected forms?
Replies: 9
Views: 878

Filing taxes ASAP and ignoring corrected forms?

I receive corrected 1099-Bs and such well after filing most years, but never update or amend my return. Two questions i guess.. 1. How often are corrections ‘worth’ bothering with? Theyve seemed minimal to me but maybe if you have huge transactions it can be significant.. 2. Should I feel guilty? Is...
by slalom
Thu Feb 07, 2019 3:03 am
Forum: Personal Finance (Not Investing)
Topic: Teachers Who Have Net Worth of $1 million +
Replies: 191
Views: 32253

Re: Teachers Who Have Net Worth of $1 million +

While it’s true that some teachers are doing quite well, it really depends on the specifics. My mother taught public school in Connecticut for 17 years after being a SAHM until I was 7. She had a masters degree and credits beyond that, so was in a decent level on the pay scale. Then she had to move ...
by slalom
Wed Feb 06, 2019 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Need Help - DW Laid Off and Company wants her back now
Replies: 109
Views: 12663

Re: Need Help - DW Laid Off and Company wants her back now

If she got a call that fast, she's probably not technically terminated yet, which means she doesn't need to get re-hired?

That would kind of change things, IMO.
by slalom
Wed Feb 06, 2019 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: CA homes and new SALT limits
Replies: 48
Views: 6140

Re: CA homes and new SALT limits

As a single, childless CA homeowner with a ~$750k-ish house, the SALT cap hugely affected me. I lost over $25,000 in deductions and have ended up owing over $6,000 in federal income tax (after usually getting a refund every year). I never re-did my W4 worksheet, assuming that things might come out ...
by slalom
Wed Feb 06, 2019 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: CA homes and new SALT limits
Replies: 48
Views: 6140

Re: CA homes and new SALT limits

As a single, childless CA homeowner with a ~$750k-ish house, the SALT cap hugely affected me. I lost over $25,000 in deductions and have ended up owing over $6,000 in federal income tax (after usually getting a refund every year). I never re-did my W4 worksheet, assuming that things might come out r...
by slalom
Mon Feb 04, 2019 4:14 pm
Forum: Personal Investments
Topic: TurboTax Premier appears to not be able to import Fidelity brokerage account documents related to ESPP
Replies: 9
Views: 2057

Re: TurboTax Premier appears to not be able to import Fidelity brokerage account documents related to ESPP

Rainier wrote: Sun Feb 03, 2019 1:26 pm The CD version, which btw, was $10 less than downloading on Amazon.
Right, yes I use the online version which has more restricted tiers.
by slalom
Sun Feb 03, 2019 1:44 am
Forum: Personal Investments
Topic: TurboTax Premier appears to not be able to import Fidelity brokerage account documents related to ESPP
Replies: 9
Views: 2057

Re: TurboTax Premier appears to not be able to import Fidelity brokerage account documents related to ESPP

Rainier wrote: Sat Feb 02, 2019 6:25 am Why did you pay for TurboTax Premier?
Deluxe doesn’t import investment account transactions. If you mean why I didn’t use some other service, I like TT. I also get a discount on it from TDA.
by slalom
Thu Jan 31, 2019 9:32 pm
Forum: Personal Investments
Topic: TurboTax Premier appears to not be able to import Fidelity brokerage account documents related to ESPP
Replies: 9
Views: 2057

TurboTax Premier appears to not be able to import Fidelity brokerage account documents related to ESPP

My account info does not work in TurboTax's import. I read the fine print after searching 'turbotax import' on the Fidelity site, and it says: "* Not all Fidelity account information can be imported directly into TurboTax. For example, information on institutional retirement plan accounts servi...
by slalom
Fri Jan 25, 2019 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: ESPP limitation - purchase price or market price?
Replies: 4
Views: 445

Re: ESPP limitation - purchase price or market price?

Here's what my company gives within the FAQ...from my understanding is calculated as below. We get a notice email that the max number shares that can be bought for a period is Y, which is the $25k divided by market price on period open. The IRS limits your ESPP purchases to a maximum market value o...
by slalom
Fri Jan 25, 2019 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: ESPP limitation - purchase price or market price?
Replies: 4
Views: 445

ESPP limitation - purchase price or market price?

I have googled and read numerous articles that specifically try to answer this question in them but the details/wording never quite makes sense to me. Is the $25,000 limit on ESPP purchases a limit on: a) how much you can contribute to the plan b) how much you can buy based on the purchase price (in...
by slalom
Sun Jan 06, 2019 5:26 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2397
Views: 546648

Re: Share your net worth progression

(These are all EoY and include home equity) 2001 - ~$0 - broke, just graduated college - no loans but wanted to be in the arts 2002 - ~$0 - making enough to get by, zero savings after rent etc 2003 - “ 2004 - “ 2005 - ~$? - got a job in tech, but it was a small company run by a miserly CEO. No reco...
by slalom
Mon Sep 17, 2018 7:27 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 4910
Views: 1308518

Re: What Book Are You Currently Reading? Part VI

I just read Mark Frost's Secret History of Twin Peaks. It was pretty chilling in parts and kind of fun reading, I have some complaints though. - The early stuff about Lewis & Clark, the fake documents were incredibly hard to read. - There's too many footnotes and they're in some sort of bright p...
by slalom
Mon Sep 17, 2018 12:35 am
Forum: Personal Investments
Topic: How real is cyber risk?
Replies: 176
Views: 14039

Re: How real is cyber risk?

The chances of your phone’s SMS messages being hacked or someone getting a SIM card that steals your phone number are so incredibly small you may as well not consider it just like you don’t plan your life around getting struck by lightning. Your identity being stolen on the other hand is increasingl...
by slalom
Sat Sep 15, 2018 3:43 am
Forum: Personal Finance (Not Investing)
Topic: Side Hustle Options/Suggestions.
Replies: 99
Views: 13245

Re: Side Hustle Options/Suggestions.

BTW...an earlier poster who said dog walking....I just had lunch with my old business partner. He told me he knows a guy making $50K/year as a full time dog walker. #wth I know one as well, makes even more from boarding them. He could even afford to hire some additonal people. Tons of upper middle ...
by slalom
Mon Sep 10, 2018 11:23 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area housing frenzy cooling
Replies: 120
Views: 20590

Re: Bay Area housing frenzy cooling

SALT cap is more meaningful, but let’s do some quick math. For a family earning $300k (state income tax of $20k) and property tax of $20k the change means $30k in newly non-deductible income, which translates into only additional $10k of tax, not a game changer. I’m not even taking into account the...
by slalom
Sun Sep 09, 2018 12:46 am
Forum: Forum Issues and Administration
Topic: Posting spreadsheets?
Replies: 5
Views: 1628

Posting spreadsheets?

I looked in the forum rules and maybe I missed it but I was curious if there was a rule against posting a link to an excel spreadsheet?

I wanted to post in personal finance and get some of the wizards here to double check my math on some things related to financial planning.
by slalom
Tue Jul 17, 2018 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: California Homeowners - Do you have earthquake insurance?
Replies: 21
Views: 2738

Re: California Homeowners - Do you have earthquake insurance?

Thanks for all the info and advice so far! One thing to reiterate is that my home was built in 2012 to quite strong EQ codes and is a slab foundation. So I don’t think retrofitting or bolting is applicable/needed. My tentative plan was that I was leaning toward insurance, once it’s paid off (2026). ...
by slalom
Mon Jul 16, 2018 5:08 am
Forum: Personal Finance (Not Investing)
Topic: California Homeowners - Do you have earthquake insurance?
Replies: 21
Views: 2738

Re: California Homeowners - Do you have earthquake insurance?

I thought i looked but apparently i failed. Sorry, this can get deleted if a mod can do so.
by slalom
Mon Jul 16, 2018 4:37 am
Forum: Personal Finance (Not Investing)
Topic: California Homeowners - Do you have earthquake insurance?
Replies: 21
Views: 2738

California Homeowners - Do you have earthquake insurance?

My home in the Bay Area is over 60% of the value of all my assets and it will be paid off in a handful of years. What are your feelings on whether getting insurance from the earthquake authority is a good idea? The house was built in 2012 - so built to modern codes - and is a medium size (1800 sq ft...
by slalom
Thu Jul 05, 2018 4:03 pm
Forum: Personal Investments
Topic: How to sell shares purchased at different times?
Replies: 5
Views: 717

Re: How to sell shares purchased at different times?

In case it helps anyone else - on Fidelity's platform, there IS an option to 'select specific lots', after which you can choose specific tax lots to apply to your order. I don't see anything like this on TD Ameritrade, at least by default, but Fidelity does have it which is my immediate concern. Tha...