Search found 410 matches

by Sam1
Sun Sep 15, 2019 7:24 am
Forum: Personal Finance (Not Investing)
Topic: Bay Area teacher saving half my income – why the doubt? (and asking more questions)
Replies: 226
Views: 8441

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

"Life is all about choices. Have you considered a spouse who works in the teaching profession so that they can max out both a 403b and a 457b as well as contribute the mandatory pension contribution to help lower your MAGI?" My thoughts are that picking a career for specific income or tax advantage...
by Sam1
Sun Sep 15, 2019 5:43 am
Forum: Personal Finance (Not Investing)
Topic: Bay Area teacher saving half my income – why the doubt? (and asking more questions)
Replies: 226
Views: 8441

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

Good job Ron 👍🏼. Life dealt you a hand, and you’ve played it phenomenally thus far. Haters are gonna hate 🤷🏽‍♂️. I find it funny when others say, oh no OP is doing this because of that and this, no OP is playing chess while you’re playing checkers. To answer your three questions, yes, the emergency...
by Sam1
Sun Sep 15, 2019 5:38 am
Forum: Personal Finance (Not Investing)
Topic: Bay Area teacher saving half my income – why the doubt? (and asking more questions)
Replies: 226
Views: 8441

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

You bought your home at extreme low in 2010, otherwise you’d be commuting from Manteca to Silicon Valley. There is an element of good fortune that is enabling your ability to live in tri-Valley Bay Area. He gambled and is winning thus far. I can't say I'd recommend someone purchase a home for $500K...
by Sam1
Sat Sep 14, 2019 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area teacher saving half my income – why the doubt? (and asking more questions)
Replies: 226
Views: 8441

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

You bought your home at extreme low in 2010, otherwise you’d be commuting from Manteca to Silicon Valley. There is an element of good fortune that is enabling your ability to live in tri-Valley Bay Area. This The real estate crash in 2008 to 2010 that allowed the OP to buy at a low price was not so...
by Sam1
Sat Sep 14, 2019 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area teacher saving half my income – why the doubt? (and asking more questions)
Replies: 226
Views: 8441

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

Why all the hate? OK, OP bought his house during a market downturn. So what, good for him! You guys never bought a house/stocks/bonds at a fortuitous time? The OP has also made some decisions that are good for his family (stay at home spouse, work to qualify for aca credits, etc.) that may be diffe...
by Sam1
Sat Sep 14, 2019 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area teacher saving half my income – why the doubt? (and asking more questions)
Replies: 226
Views: 8441

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

Thanks for your post. I found it very interesting. Being a Bay Area native, I know that a middle class lifestyle on your income is neither rare or an exception for the folks living here. It is not due to you being fortunate buying at the right time as you've already pointed out that a person today ...
by Sam1
Sat Sep 14, 2019 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area teacher saving half my income – why the doubt? (and asking more questions)
Replies: 226
Views: 8441

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

Unfortunately most people are just dumb. They think if they are not able to do it, then nobody can. If you went to the Mr Money Mustache forum, you'd be chastised for not saving 90% of your income. You'd be mr spendy pants in your clown house and your cable and not riding your bike to work. It’s no...
by Sam1
Sat Sep 14, 2019 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area teacher saving half my income – why the doubt? (and asking more questions)
Replies: 226
Views: 8441

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

Goal33 wrote:
Sat Sep 14, 2019 11:12 am
You bought your home at extreme low in 2010, otherwise you’d be commuting from Manteca to Silicon Valley.

There is an element of good fortune that is enabling your ability to live in tri-Valley Bay Area.
This
by Sam1
Thu Sep 12, 2019 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area budget for $350k family income
Replies: 94
Views: 6672

Re: Bay Area budget for $350k family income

The same issue pops up a lot on this board. People claiming to be earning middle class money and living a middle class lifestyle when in fact they are earning more and living more lavishly. In fact on this board a lot of people living above an middle class lifestyle claim to be living below middle ...
by Sam1
Thu Sep 12, 2019 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area budget for $350k family income
Replies: 94
Views: 6672

Re: Bay Area budget for $350k family income

What stands out to me from these posts is how insanely expensive having children is. How did this happen? We make well over $400k and a large portion of our take home pay goes towards childcare and college savings. The college calculator tells us it’s $1,200 per month for private and $600 for public...
by Sam1
Thu Sep 12, 2019 8:45 am
Forum: Investing - Theory, News & General
Topic: Index Funds Bubble? [Michael Burry article]
Replies: 206
Views: 19030

Re: Index Funds Bubble? [Michael Burry article]

Will someone please explain the liquidity factor for me? What do they mean that it will be harder to exit? Do index funds not actually own underlying stocks? Also, I read that more people investing in index funds is increasing the values. But isn’t this the same thing as more people investing in st...
by Sam1
Thu Sep 12, 2019 4:55 am
Forum: Investing - Theory, News & General
Topic: Index Funds Bubble? [Michael Burry article]
Replies: 206
Views: 19030

Re: Index Funds Bubble? [Michael Burry article]

Will someone please explain the liquidity factor for me? What do they mean that it will be harder to exit? Do index funds not actually own underlying stocks? Also, I read that more people investing in index funds is increasing the values. But isn’t this the same thing as more people investing in sto...
by Sam1
Mon Sep 02, 2019 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Federal Employee Burn or Sick Leave [before retirement]
Replies: 125
Views: 8862

Re: Federal Employee Burn or Sick Leave [before retirement]

I retired last year with a FERS pension and over 35 years of service. I had more than 17 months’ worth of unused sick leave. I viewed my sick leave balance as a short-term disability insurance policy. Fortunately, I never had to tap into it. That unused sick leave was added to my service time to in...
by Sam1
Tue Aug 27, 2019 6:02 am
Forum: Personal Finance (Not Investing)
Topic: Anyone retire in their 30s?
Replies: 108
Views: 13661

Re: Anyone retire in their 30s?

I can’t imagine how different the world could be in your 30s versus your 80s. It seems extremely risky. We could have major changes in our tax structure, a war that actually affects most Americans, extreme global warming, etc. Plenty of things can happen that are outside of your control. There are p...
by Sam1
Thu Aug 22, 2019 8:47 pm
Forum: Personal Investments
Topic: IRS Question on 2017 return
Replies: 6
Views: 582

Re: IRS Question on 2017 return

It is likely that if you never reported the sale on your return that the IRS has calculated the tax on the full sale price, not the gain on the sale (which they don't know). If the exchange was done at a profit over your original cost, the tax is likely less. If the exchange actually produced a los...
by Sam1
Mon Aug 19, 2019 5:30 am
Forum: Personal Finance (Not Investing)
Topic: How to define "HCOL" (high cost of living) areas?
Replies: 79
Views: 4654

Re: How to define "HCOL" (high cost of living) areas?

What category would people put Texas in (major metro)? I had up until recently thought it was relatively low cost. Maybe my standards are too high, but I found it difficult to find a house in a decent middle to upper middle class neighborhood with decent schools for less than 500k. That seems prett...
by Sam1
Sat Aug 17, 2019 12:30 am
Forum: Personal Finance (Not Investing)
Topic: How to define "HCOL" (high cost of living) areas?
Replies: 79
Views: 4654

Re: How to define "HCOL" (high cost of living) areas?

It seems disingenuous to compare San Jose prices with all of Washington, dc. Washington has large areas of poverty with very low housing prices. The median home price is NW dc is around 800k. I can’t imagine what kind of neighborhood you’d be in to find a 530k home in DC. That is a one bedroom cond...
by Sam1
Fri Aug 16, 2019 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: How to define "HCOL" (high cost of living) areas?
Replies: 79
Views: 4654

Re: How to define "HCOL" (high cost of living) areas?

According to the cite provided by H-Town, here are the top 20 cost of living areas in the U.S.... 1. Palo Alto, California 2. Mountain View, California 3. New York City, New York 4. San Francisco, California 5. Honolulu, Hawaii 6. Oakland, California 7. San Jose, California 8. Boston, Massachusetts...
by Sam1
Fri Aug 02, 2019 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: Do we move or add-on? Need some grounding...
Replies: 37
Views: 1877

Re: Do we move or add-on? Need some grounding...

It sounds like the life you've created together is in a really really really good situation. Close to parents and family, great lot, great location, great schools, great neighbors, wife is able to stay at home. And you want to upset everything for some extra closet space? +100000 We are in a simila...
by Sam1
Fri Aug 02, 2019 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: Do we move or add-on? Need some grounding...
Replies: 37
Views: 1877

Re: Do we move or add-on? Need some grounding...

You don't say how many bedrooms you have right now. What is actually the stress point about the current home? We have 3 bedrooms. I think the main stress is just trying to decide what we ought to do. Now that you ask what's the stress, I think there's actually nothing really stressing other than an...
by Sam1
Fri Aug 02, 2019 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Do we move or add-on? Need some grounding...
Replies: 37
Views: 1877

Re: Do we move or add-on? Need some grounding...

I reread your post and do see you have more equity than I previous thought. However, even with this equity you’ll be using a lot of it on closing costs and realtor fees. You say your current home is 2,100 square feet. This is more than enough space. I’d understand your strong desire to move if you ...
by Sam1
Fri Aug 02, 2019 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Do we move or add-on? Need some grounding...
Replies: 37
Views: 1877

Re: Do we move or add-on? Need some grounding...

I reread your post and do see you have more equity than I previous thought. However, even with this equity you’ll be using a lot of it on closing costs and realtor fees. You say your current home is 2,100 square feet. This is more than enough space. I’d understand your strong desire to move if you l...
by Sam1
Fri Aug 02, 2019 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Do we move or add-on? Need some grounding...
Replies: 37
Views: 1877

Re: Do we move or add-on? Need some grounding...

In my opinion, you can’t afford to do either. You should be maxing out your 401k AND putting at least some money in a private brokerage account before you trade up houses. Here are reasons not to do anything: 1. You barely have any equity 2. Your emergency fund is small. With a large mortgage you’d ...
by Sam1
Thu Aug 01, 2019 9:28 am
Forum: Personal Finance (Not Investing)
Topic: Federal Employee Burn or Sick Leave [before retirement]
Replies: 125
Views: 8862

Re: Federal Employee Burn or Sick Leave [before retirement]

I was a Fed and had the good fortune not to be sick very often. I also found that after 15 years of service the vacation time accrued faster than I could use it, so I occasionally used vacation time when sick leave would have been legit. I thought of the unused sick leave as a long term disability ...
by Sam1
Thu Aug 01, 2019 7:00 am
Forum: Personal Consumer Issues
Topic: Day care vs nanny for child care
Replies: 62
Views: 3380

Re: Day care vs nanny for childcare

jmk wrote:
Thu Aug 01, 2019 5:19 am
A child is better off in a good day care where he/she can develop social skills while interacting with other babies.
Babies don’t socialize. At all.

Children start socializing closer to age 3. Around age 2 they independently play.
by Sam1
Thu Aug 01, 2019 5:18 am
Forum: Personal Finance (Not Investing)
Topic: FMLA, short term disability and related questions
Replies: 14
Views: 1219

Re: FMLA, short term disability and related questions

Thanks for the responsez so far ! A quick followup question on short term disability - if she signs up for it now while pregnant, would it cover in case of any complications etc that would delay her getting back to work after 12 weeks ? I realize it wouldnt cover the normal recovery but wondering i...
by Sam1
Thu Aug 01, 2019 5:16 am
Forum: Personal Finance (Not Investing)
Topic: FMLA, short term disability and related questions
Replies: 14
Views: 1219

Re: FMLA, short term disability and related questions

Thanks for the responsez so far ! A quick followup question on short term disability - if she signs up for it now while pregnant, would it cover in case of any complications etc that would delay her getting back to work after 12 weeks ? I realize it wouldnt cover the normal recovery but wondering i...
by Sam1
Thu Aug 01, 2019 5:14 am
Forum: Personal Consumer Issues
Topic: Day care vs nanny for child care
Replies: 62
Views: 3380

Re: Day care vs nanny for childcare

OP - once your kid arrives imagine taking care of three or four of them at once. Would you do that? Because that’s a daycare.
by Sam1
Thu Aug 01, 2019 5:13 am
Forum: Personal Consumer Issues
Topic: Day care vs nanny for child care
Replies: 62
Views: 3380

Re: Day care vs nanny for childcare

All my 4 kids had nannies. They also went to pre-school play groups from age 3. All seem to have grown up great. Day care centers are the source of numerous, annoying infections, so if you are an anti-vaxxer that may sound good... Nannies are a luxury, but if you can afford it, IMHO it's a no-brain...
by Sam1
Tue Jul 30, 2019 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Wife (teacher) and I are trying for a baby. What are some "must-knows" and other tips?
Replies: 122
Views: 8930

Re: Wife (teacher) and I are trying for a baby. What are some "must-knows" and other tips?

Here’s a tip. It’s in your best financial interest to be a coparent and not just a dad. Most of my colleagues and friends who quit their jobs to stay home did so for a few reasons. I suspect loving the baby and wanting to spend 100% of their time with them was a major one. But another common theme ...
by Sam1
Mon Jul 29, 2019 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Relocation - buy or rent in new city
Replies: 13
Views: 1171

Re: Relocation - buy or rent in new city

I don’t understand why you’d buy when you haven’t nailed down your jobs. What if you change employers in six months...wouldn’t you want to at least consider your commute when buying a house? Why would you want a future job to be limited by a commute? Also like you mentioned, you’re taking a risk goi...
by Sam1
Mon Jul 29, 2019 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: Wife (teacher) and I are trying for a baby. What are some "must-knows" and other tips?
Replies: 122
Views: 8930

Re: Wife (teacher) and I are trying for a baby. What are some "must-knows" and other tips?

Here’s a tip. It’s in your best financial interest to be a coparent and not just a dad. Most of my colleagues and friends who quit their jobs to stay home did so for a few reasons. I suspect loving the baby and wanting to spend 100% of their time with them was a major one. But another common theme i...
by Sam1
Sun Jul 28, 2019 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Job Offer Evaluation - FANG
Replies: 114
Views: 13663

Re: Job Offer Evaluation - FANG

Glad you accepted the job and it’s going well!

You saved me writing a long comment about how turning down this opportunity would be a huge mistake.
by Sam1
Sun Jul 28, 2019 7:06 am
Forum: Personal Finance (Not Investing)
Topic: FMLA, short term disability and related questions
Replies: 14
Views: 1219

Re: FMLA, short term disability and related questions

Thanks for the responsez so far ! A quick followup question on short term disability - if she signs up for it now while pregnant, would it cover in case of any complications etc that would delay her getting back to work after 12 weeks ? I realize it wouldnt cover the normal recovery but wondering i...
by Sam1
Wed Jul 24, 2019 11:00 pm
Forum: Personal Investments
Topic: Can we afford $600k home?
Replies: 98
Views: 6867

Re: Can we afford $600k home?

I haven't approached any lander to get rate for 10% down with no PMI. I remember reading thread about lots of people getting regular rate with 10% down and no PMI. We are able to save $15k-20k post tax a year out of that $130-140k. (assuming we did not save for retirement) anonymoususer, 1) Is that...
by Sam1
Wed Jul 24, 2019 10:56 pm
Forum: Personal Investments
Topic: Can we afford $600k home?
Replies: 98
Views: 6867

Re: Can we afford $600k home?

I am assuming you live in the bay area, or another hcol tech hub. Here is my 2 cents, wait a few years until the market cycle plays out, good chance the tech industry will take a beating, and many of the housing prices in tech hubs will come down from their recent highs. If you are one of the lucky...
by Sam1
Wed Jul 24, 2019 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: Decision to buy earthquake insurance
Replies: 40
Views: 1976

Re: Decision to buy earthquake insurance

Would a roughly 1200 home in the Bay Area cost much more than $260k to build? I’m being serious. I’d assume almost all of your home’s value is from its land. A home like yours shouldn’t require expensive materials or whatnot due to the climate. I’m picturing a very basic house with a small kitchen ...
by Sam1
Wed Jul 24, 2019 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Decision to buy earthquake insurance
Replies: 40
Views: 1976

Re: Decision to buy earthquake insurance

Have you seen Blu homes? No, what's that? Btw if the earthquake strikes, I'm pretty sure te land will lose its value too :) So I ask once again, if I choose to build a house elsewhere, I get zilch; correct? I can’t imagine you’d be able to do that. I’d ask the insurance company and if they say you ...
by Sam1
Wed Jul 24, 2019 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Decision to buy earthquake insurance
Replies: 40
Views: 1976

Re: Decision to buy earthquake insurance

unclescrooge wrote:
Wed Jul 24, 2019 10:12 pm
Sam1 wrote:
Wed Jul 24, 2019 10:03 pm
According to the internet it’s 250-300 dollars per square foot to build in the Bay Area.

So you’re looking at $300k - $360k to build.
And a 2 year wait after a major earthquake to do repairs.
But in another thread I learned that Bay Area housing can only appreciate!
by Sam1
Wed Jul 24, 2019 10:03 pm
Forum: Personal Finance (Not Investing)
Topic: Decision to buy earthquake insurance
Replies: 40
Views: 1976

Re: Decision to buy earthquake insurance

According to the internet it’s 250-300 dollars per square foot to build in the Bay Area.

So you’re looking at $300k - $360k to build.
by Sam1
Wed Jul 24, 2019 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Decision to buy earthquake insurance
Replies: 40
Views: 1976

Re: Decision to buy earthquake insurance

Would a roughly 1200 home in the Bay Area cost much more than $260k to build? I’m being serious. I’d assume almost all of your home’s value is from its land. A home like yours shouldn’t require expensive materials or whatnot due to the climate. I’m picturing a very basic house with a small kitchen ...
by Sam1
Wed Jul 24, 2019 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Sell paid off house, invest proceeds and rent
Replies: 47
Views: 3719

Re: Sell paid off house, invest proceeds and rent

Here's some perspective from the reverse scenario: I'm 50, my wife is 40. We are "almost empty nesters" with two kids going through college over the next six years. We've decided to rent for our remaining career years and invest the savings in a taxable account. Folks who feel like renting is tossi...
by Sam1
Wed Jul 24, 2019 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Sell paid off house, invest proceeds and rent
Replies: 47
Views: 3719

Re: Sell paid off house, invest proceeds and rent

No. I would NOT give up a fixed housing expense of less than $10k per year. If you wanted to rent you should have sold years ago and then invested the difference (assuming rent was less). Now you need to stay and reap the benefit of your investment. The benefit being a low fixed housing expense in r...
by Sam1
Wed Jul 24, 2019 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Decision to buy earthquake insurance
Replies: 40
Views: 1976

Re: Decision to buy earthquake insurance

Would a roughly 1200 home in the Bay Area cost much more than $260k to build? I’m being serious. I’d assume almost all of your home’s value is from its land. A home like yours shouldn’t require expensive materials or whatnot due to the climate. I’m picturing a very basic house with a small kitchen a...
by Sam1
Tue Jul 23, 2019 9:29 pm
Forum: Personal Consumer Issues
Topic: Has anyone seen the documentary "Playing with FIRE?"
Replies: 216
Views: 19010

Re: Has anyone seen the documentary "Playing with FIRE?"

Got it... the guy gets under your skin... A LOT. Which is how it goes when you're really satisfied with your own life choices. :wink: meh - I wouldn't say he gets under my skin a lot. I would just say that I recognize him for what he is and therefore call him out in these threads. (and for whatever...
by Sam1
Tue Jul 23, 2019 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: Share your moving from HCOL to LCOL stories
Replies: 36
Views: 3660

Re: Share your moving from HCOL to LCOL stories

I'm looking for information on how your expenses changed when moving from HCOL areas to LCOL areas. Any and all information regarding overall expenses, income, and quality of life changes are welcome. Where are you considering moving from and to? j From NYC suburbs to somewhere to be determined. Ca...
by Sam1
Tue Jul 23, 2019 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house - bay area
Replies: 102
Views: 6081

Re: Buying a house - bay area

We get it. You think real estate in the Bay Area will only appreciate and that taking on 140k in fixed housing expenses each year is completely fine. Extremely likely to continue appreciating nicely for $2.5M single family homes. The $140K would depend on income, job stability, etc. If things don't...
by Sam1
Tue Jul 23, 2019 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house - bay area
Replies: 102
Views: 6081

Re: Buying a house - bay area

What are your job prospects in NYC? Are you tied to the Bay Area? I ask because housing is much less expensive based on what I’m seeing on this thread. You could rent a few more years and then go and buy a $2 million manhattan coop in cash. I firmly believe in living in HCOL areas if you’re a high e...
by Sam1
Tue Jul 23, 2019 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house - bay area
Replies: 102
Views: 6081

Re: Buying a house - bay area

We get it. You think real estate in the Bay Area will only appreciate and that taking on 140k in fixed housing expenses each year is completely fine. Extremely likely to continue appreciating nicely for $2.5M single family homes. The $140K would depend on income, job stability, etc. If things don't...
by Sam1
Tue Jul 23, 2019 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house - bay area
Replies: 102
Views: 6081

Re: Buying a house - bay area

What's interesting about this thread is, historically, Bhs have recommended no more than 2.5x salary as a "safe" mortgage ratio. Here, they are looking at 4x (or more, depending on how OP's income is calculated) and posters are saying "yeah, it's probably fine, houses are expensive, etc" I get that...