Search found 82 matches

by enclee
Mon Oct 19, 2020 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Just general comments for a 22 y/o on financial position
Replies: 44
Views: 8311

Re: Just general comments for a 22 y/o on financial position

This is the OP here. I'm 27 now with a net worth of $655K ($484K Taxable, $102K in 401K and $68K in Roth IRA). It's pretty crazy to see this thread and see how much my money has grown. I've been 100% invested in the vanguard total stock market and I just max out my 401k and Roth IRA every year for ...
by enclee
Wed Oct 14, 2020 11:44 am
Forum: Personal Consumer Issues
Topic: IPhone SE has been around a little while now, so what's the verdict?
Replies: 46
Views: 3695

Re: IPhone SE has been around a little while now, so what's the verdict?

I replaced my 6S with a SE 2020, and I love it. Personally, love that the size of the phone goes back to the design vision of Steve Jobs.
by enclee
Sat Oct 10, 2020 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Investing in real estate - what is your opinion?
Replies: 53
Views: 4634

Re: Investing in real estate - what is your opinion?

It’s a terrific option for the right person and the right property. There are different avenues to make money in real estate whether it’s commercial or residential. Individually, you need to decide your approach cash flow, appreciation, flips, wholesale, long term hold. As for the current market, it...
by enclee
Sat Oct 10, 2020 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Should I quit high paying job?
Replies: 144
Views: 17324

Re: Should I quit high paying job?

Any thought on simply confronting your boss establishing boundaries? Some people are just rude, but any resistance and they move on to an easier target. After I leave he'll just find someone else to bully. I assume you're right, that's how a bully works. However, your co-workers might put up resist...
by enclee
Sat Oct 10, 2020 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Buying second house - dilemma
Replies: 46
Views: 5901

Re: Buying second house - dilemma

Keeping and renting current house would be something like $15000 income on $500k of equity if mortgage were paid off. That's a pretty poor return on investment. About 3.0%... As a long-time real estate investor and landlord, I laugh at that analysis. It does not take price appreciation into account...
by enclee
Tue Oct 06, 2020 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Should I quit high paying job?
Replies: 144
Views: 17324

Re: Should I quit high paying job?

Any thought on simply confronting your boss establishing boundaries? Some people are just rude, but any resistance and they move on to an easier target.
by enclee
Fri Oct 02, 2020 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Potential Family Land Sale - 120 Acres Austin, TX Area
Replies: 51
Views: 5490

Re: Potential Family Land Sale - 120 Acres Austin, TX

I’m just up 130 a bit from your property, and I wouldn’t sell yet. If, you don’t need the money then just keep holding it. You’ve seen the sprawl encompass Pflugerville, Hutto, Taylor.
by enclee
Fri Oct 02, 2020 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Six Figure Student Debt
Replies: 84
Views: 6963

Re: Six Figure Student Debt

wait so, just make payments and hope for the gvt to forgive it in some number of years is being touted as a viable option? I suggest you read up on income driven repayment plans before making snarky comments about them. It’s not really snarky, but the government isn’t known for making loan forgiven...
by enclee
Fri Oct 02, 2020 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Buying half a house
Replies: 78
Views: 7095

Re: Buying half a house

Great follow up OP. I’m wondering, if this house and land might be the way that your mother is trying to provide for her children. She gets to know that she provided home(s) and helps to keep the family close.
by enclee
Thu Oct 01, 2020 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Six Figure Student Debt
Replies: 84
Views: 6963

Re: Six Figure Student Debt

You all know that if he has federal loans, he can go on PAYE and have the loans forgiven after 20 years, or IBR after 25 years right? I just want to know if all the Dave Ramsey adherents know this or not. Other than the tax liability at the end, I'm not sure what the down side is other than a possi...
by enclee
Thu Oct 01, 2020 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: Six Figure Student Debt
Replies: 84
Views: 6963

Re: Six Figure Student Debt

willthrill81 wrote: Thu Oct 01, 2020 4:58 pm
NotWhoYouThink wrote: Thu Oct 01, 2020 3:47 pm OP appears to have left the building.
That happens with disheartening regularity.
I browse here regularly, and I’ve noticed people taking a “beating” for things not related to their questions.
by enclee
Thu Oct 01, 2020 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Buying half a house
Replies: 78
Views: 7095

Re: Buying half a house

Just a thought, but if the brother is going to benefit from the property and additional dwelling unit then it would make sense for you to live rent free. This at least creates a modicum of fairness in regards to inheritance, and not to mention you’ll be providing care more often.
by enclee
Thu Oct 01, 2020 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Six Figure Student Debt
Replies: 84
Views: 6963

Re: Six Figure Student Debt

You all know that if he has federal loans, he can go on PAYE and have the loans forgiven after 20 years, or IBR after 25 years right? I just want to know if all the Dave Ramsey adherents know this or not. Other than the tax liability at the end, I'm not sure what the down side is other than a possi...
by enclee
Wed Sep 30, 2020 11:41 pm
Forum: Personal Finance (Not Investing)
Topic: How much house can i afford
Replies: 19
Views: 2390

Re: How much house can i afford

Congratulations on the new job and salary! It must feel like quite an achievement. Plus, you mentioned you're nearly debt free. I agree with the other posters that you should direct that bigger shovel into retirement and savings for now. Take some time to evaluate your lifestyle goals, expenses and ...
by enclee
Wed Sep 30, 2020 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Six Figure Student Debt
Replies: 84
Views: 6963

Re: Six Figure Student Debt

student loans down to $163,000 I will make ~$80,000 this year. Money management has never been a big problem for me False, that seems like a poor investment. While not the worst, certainly not good. You probably could have received the same education for 1/4 the cost and the same income prognosis. ...
by enclee
Wed Sep 30, 2020 10:43 am
Forum: Personal Finance (Not Investing)
Topic: Six Figure Student Debt
Replies: 84
Views: 6963

Re: Six Figure Student Debt

I wonder how Nike is going to sell growing numbers of $200 sneakers when so many young people have so much debt. Nike's current PE is around 70. OP should buy secondhand clothes until his/her debt is paid off. Offer financing plans for the shoes, $25/month for only 12 months. Just in time for next ...
by enclee
Wed Sep 30, 2020 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Housing Oh Housing
Replies: 21
Views: 1807

Re: Housing Oh Housing

It’s not wrong, but it’s just an opportunity cost calculation. It all depends how you want to live you lifestyle. Also, like you said the market has gone up and up, and it’s likely that the 700-750k house now has bids approaching 800k on its first day of listing.
by enclee
Wed Sep 23, 2020 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Reason not to rent out your old house?
Replies: 58
Views: 4778

Re: Reason not to rent out your old house?

-Maintenance & Upkeep
-Repairs/Renovations after renter moves out
-Cash flow would be too low
by enclee
Wed Sep 23, 2020 12:48 am
Forum: Investing - Theory, News & General
Topic: 'Wealth Calculator' in Millionaire Next Door
Replies: 33
Views: 3947

Re: 'Wealth Calculator' in Millionaire Next Door

I guess it depends on the industry you’re in.....but going by your numbers, if you’re a 28 year old earning 55,000 dollars, and you only get up to 115,000 dollars over a 35 year period that seems pretty poor. I would think your salary at 63 years of age would be higher than you specified, thus rais...
by enclee
Wed Sep 23, 2020 12:26 am
Forum: Investing - Theory, News & General
Topic: 'Wealth Calculator' in Millionaire Next Door
Replies: 33
Views: 3947

Re: 'Wealth Calculator' in Millionaire Next Door

I guess it depends on the industry you’re in.....but going by your numbers, if you’re a 28 year old earning 55,000 dollars, and you only get up to 115,000 dollars over a 35 year period that seems pretty poor. I would think your salary at 63 years of age would be higher than you specified, thus rais...
by enclee
Tue Sep 22, 2020 10:56 pm
Forum: Personal Finance (Not Investing)
Topic: In-network provider refusing service if we use insurance
Replies: 122
Views: 6649

Re: In-network provider refusing service if we use insurance

The responses from the docs in this thread have really eroded my trust in their profession. It's a business like any other, but when you walk into the medical facility there is an expectation that patient care comes first. It's not like a car dealership where you're swimming with sharks. Now, I have...
by enclee
Tue Sep 22, 2020 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: In-network provider refusing service if we use insurance
Replies: 122
Views: 6649

Re: In-network provider refusing service if we use insurance

I feel so confused just reading the back and forth responses that you’ve been getting. At least you know now that they just don’t want to do it, but wow what a difficult system to deal with.
by enclee
Tue Sep 22, 2020 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Finance App (if you start fresh)?
Replies: 32
Views: 1534

Re: Personal Finance App (if you start fresh)?

I was asked to discuss personal budgeting to college students. I thought students will benefit from using personal finance app so that they can track of their spending/income/debt/investment/NWT etc. Imagine you are a recent graduate and just started your first job. What app/program would you start...
by enclee
Tue Sep 22, 2020 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Physicians: Should I leave my job?
Replies: 207
Views: 16132

Re: Physicians: Should I leave my job?

There is a phenomenon throughout this thread with comparing salaries. I am not familiar enough with the psychology literature to cite studies, but it is well established that satisfaction is more about relativity than absolute numbers. I am paraphrasing because I don't know the studies but if you t...
by enclee
Tue Sep 22, 2020 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Physicians: Should I leave my job?
Replies: 207
Views: 16132

Re: Physicians: Should I leave my job?

How many IT folks or lawyers have to go through the rigirous, competitive, stressfull and might I mention extended years training as Physcians, especially OP with his speciality? I would say almost none. The amount of stress and years of training just to begin practicing, especially in high special...
by enclee
Wed May 20, 2020 11:29 am
Forum: Personal Finance (Not Investing)
Topic: Student debt vs investing
Replies: 37
Views: 2193

Re: Student debt vs investing

Knock out the student loan debt. I've never woken up and regretted that I paid them off. It's a huge relief.
by enclee
Thu May 14, 2020 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Should you include home equity in Net Worth?
Replies: 160
Views: 8283

Re: Should you include home equity in Net Worth?

I for one don't think that borrowing money at 3.5% only to then loan it back out at 1.5% is a good deal. Now if you borrow that money only to buy stocks, that's a different matter, but you clearly aren't. willthrill81, If you believe that I can borrow money to buy bond (0/100) or stock (100/0), why...
by enclee
Thu May 14, 2020 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Should you include home equity in Net Worth?
Replies: 160
Views: 8283

Re: Should you include home equity in Net Worth?

Where does that 10% number come from besides just some arbitrary number used to prove your definition of “house poor”. Someone who lives in a $300,001 house and who has a net worth of $3,000,000 is not “house poor” according to most people. They will most likely make their heirs very happy. Kenkat,...
by enclee
Thu May 14, 2020 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Should you include home equity in Net Worth?
Replies: 160
Views: 8283

Re: Should you include home equity in Net Worth?

I like to include Home Value minus 10% to account for fees and negotiating. I view Net Worth the same as I view checking my weight on a scale. It's a decent health indicator.
by enclee
Sat May 09, 2020 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Quitting a job after two weeks: relocation expenses
Replies: 196
Views: 18147

Re: Quitting a job after two weeks: relocation expenses

Stop doing math, and just listen to yourself. You didn't need your current job to get where you are at in life. It's money, you're great at making it and it'll come back, but you're health might never come back. If, you're afraid of being "quitter" you need to move past that in a couple ye...
by enclee
Tue May 05, 2020 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Amica vs USAA Insurance
Replies: 27
Views: 1768

Re: Amica vs USAA Insurance

It's difficult to compare rates with USAA because they usually pay a dividend back annually to policyholders which reduces the effective cost of their coverage. The amount of the dividend is unpredictable, but is often significant. No complaints here about their service. It all depends what part of...
by enclee
Tue May 05, 2020 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Amica vs USAA Insurance
Replies: 27
Views: 1768

Re: Amica vs USAA Insurance

Saved a significant amount moving from USAA to Geico. USAA has pretty good service, but they're not competitive.
by enclee
Tue May 05, 2020 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Taking a pay cut to get off work earlier?
Replies: 30
Views: 1720

Re: Taking a pay cut to get off work earlier?

If the hours are changed I can easily pick up 5 to 6 of my partner's shifts per year and cut the loss of pay in half. That would be my goal. Working 5 or 6 extra days isnt a big deal and I would get off earlier the other 120 days a year I would the long hours. You're willing to trade days off for r...
by enclee
Thu Dec 12, 2019 8:41 am
Forum: Personal Finance (Not Investing)
Topic: My first investment property purchase
Replies: 27
Views: 3152

Re: My first investment property purchase

Thanks for the replies. lol I'll post an update to this thread once everything is finalized. Good luck with you first flip. Your original post comes off as one with a lot of hope and certainty of the money, you'll be pocketing but you're missing quite few things though in your evaluation. Fortunate...
by enclee
Sat Sep 14, 2019 11:13 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area teacher saving half my income – why the doubt? (and asking more questions)
Replies: 508
Views: 35001

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

Great post, Ron. It’s hard to believe you’re catching grief about controlling your major purchases, minimizing expenses, and understanding tax laws.
by enclee
Fri May 03, 2019 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Please Critique our Budget
Replies: 28
Views: 2620

Re: Please Critique our Budget

Everything else looks reasonable, but these items I think you can trim a little? 1. Lawn care if $120 per month. Does this include mowing or only fertilizing etc? Can you reduce it by buying a mower yourself? I think that’s a justifiable cost considering the OP has two professional jobs as well as ...
by enclee
Tue Apr 23, 2019 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: Marriage and Student Loans
Replies: 62
Views: 4588

Re: Marriage and Student Loans

666 Credit Score :twisted: It ain't too late, you can still run. ...but really, if you are going to marry this person, it makes no difference who pays off the student loans. I paid off some of my wife's student loans even though she never worked after college. 120k student loans is a lot though, es...
by enclee
Tue Apr 23, 2019 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: Marriage and Student Loans
Replies: 62
Views: 4588

Re: Marriage and Student Loans

666 Credit Score :twisted: It ain't too late, you can still run. ...but really, if you are going to marry this person, it makes no difference who pays off the student loans. I paid off some of my wife's student loans even though she never worked after college. 120k student loans is a lot though, es...
by enclee
Tue Apr 23, 2019 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Marriage and Student Loans
Replies: 62
Views: 4588

Re: Marriage and Student Loans

666 Credit Score :twisted: It ain't too late, you can still run. ...but really, if you are going to marry this person, it makes no difference who pays off the student loans. I paid off some of my wife's student loans even though she never worked after college. 120k student loans is a lot though, es...
by enclee
Sat Apr 20, 2019 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: Sell Home Now or Wait? Relocating with Spouse
Replies: 14
Views: 1158

Re: Sell Home Now or Wait? Relocating with Spouse

This is a complicated question with a lot of weighting towards the relationship health. Is this the first you and your fiancée will be in a long distance relationship for an extended time? It’s something you have to consider. 1) Which partner has the house in their name? Assuming you own the house t...
by enclee
Thu Apr 18, 2019 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Marriage and Student Loans
Replies: 62
Views: 4588

Re: Marriage and Student Loans

OP, 3) Why is she having that amount of student loan while having a low income? IMHO, a better approach would be to cover her living expense while she saved and pay off her loan by herself. No pain no gain. If she is not suffering the pain of student loan, why won't she take on more debts? KlangFoo...
by enclee
Tue Apr 16, 2019 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: In Laws Retirement Nest Egg
Replies: 156
Views: 16108

Re: In Laws Retirement Nest Egg

You worry too much, and it's not your position to decide someone's retirement age. Also, you're viewing them as failures for having saved 700k with a paid off house with only one income, but they know how to manage money. They had a successful working life. Family is important and expect your spouse...
by enclee
Mon Mar 11, 2019 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Are academic enrichment courses for school age kids worth it
Replies: 61
Views: 3726

Re: Are academic enrichment courses for school age kids worth it

But I guess that’s just my kids. I think they understand how I feel about school and I will do my best to reiterate that to get to where they want to be in life, school is part of it . I just have to figure out a way to do it in a non threatening or competitive way. Because I do think I come on too...
by enclee
Mon Mar 11, 2019 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Are academic enrichment courses for school age kids worth it
Replies: 61
Views: 3726

Re: Are academic enrichment courses for school age kids worth it

Or am I just trying to keep up with the Jones’ and am secretly jealous of the parents of those kids who are doing advanced work. Am I just in the weeds and just need to slog through and everything will be fine in the end? You're trying to keep up with Jones', and from your description of the neighb...
by enclee
Mon Mar 11, 2019 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Are academic enrichment courses for school age kids worth it
Replies: 61
Views: 3726

Re: Are academic enrichment courses for school age kids worth it

Making sure they love reading (in whatever subject matter they choose) This is the part that drives me nuts about online forums. Folks say things that sound good in principle but in practice are impossible. I have a daughter (second grade) who hates reading. She is good at it but doesn't enjoy it. ...
by enclee
Tue Feb 26, 2019 9:17 am
Forum: Personal Finance (Not Investing)
Topic: On this Forum, is X% of Income Saved Pre-Tax or Post-Tax?
Replies: 95
Views: 7075

Re: On this Forum, is X% of Income Saved Pre-Tax or Post-Tax?

[/quote] Yes. My formula is very simple. Gross income = taxes + expense + savings. I count the whole mortgage PITI as an expense. You can find your total taxes (Federal+state+FICA+Medicare) via your last paycheck and your tax return. Everything else is either expense or saving. KlangFool [/quote] Th...
by enclee
Tue Feb 26, 2019 8:10 am
Forum: Personal Finance (Not Investing)
Topic: On this Forum, is X% of Income Saved Pre-Tax or Post-Tax?
Replies: 95
Views: 7075

Re: On this Forum, is X% of Income Saved Pre-Tax or Post-Tax?

OP, I save 1 year of my current annual expense every year. I do not save based on X% of income. KlangFool Wouldn't that be saving 50% of pretax income? So wouldn't you recommend saving 50% of pretax income every year? Olemiss540, No. I do not consider taxes as an expense. Gross income = taxes (Fede...
by enclee
Thu Feb 07, 2019 10:37 am
Forum: Personal Finance (Not Investing)
Topic: Sell the house or keep it for rent?
Replies: 30
Views: 1995

Re: Sell the house or keep it for rent?

Hello, Due to job relocation and other personal reasons, I got 3 houses and 3 mortgages. Having THREE mortgages is so SCARY! Especially I only have a single income of $140K/yr.. I really need to make a right decision on these investment. But I'm not sure what to do.. Some of friends said that it's ...
by enclee
Wed May 23, 2018 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: Need help with debt strategy
Replies: 47
Views: 3331

Re: Need help with debt strategy

I don't know where to start with my debt and have struggled with finances my entire life. I am looking for advice on how to tackle my debt in the best way possible. Any information is helpful, thank you in advance. My background information is as follows: *29 Year old male in CA graduating this May...
by enclee
Fri May 18, 2018 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Are there any experienced real-estate people here?
Replies: 39
Views: 4684

Re: Are there any experienced real-estate people here?

There is a big difference between a house that needs updates but is livable vs immediate gut/reno vs teardown. When I'm casually browsing on zillow i've seen a lot of pre 80's kitchens where I think, this eventually needs to be replaced but could live with it for a few years. How would the house lo...