Search found 161 matches

by MBB_Boy
Sat Sep 19, 2020 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Preparing for retirement in mid 30s
Replies: 302
Views: 17646

Re: Preparing for retirement in mid 30s

I question whether a food budget can be halved by simply moving to a LCOL? I don’t think it can. Cost of food isn’t materially different from one place to another, unless you’re talking about a lifestyle change (I.e. no longer going out to eat, etc). But again that’s more about your ability/desire ...
by MBB_Boy
Sat Sep 19, 2020 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Preparing for retirement in mid 30s
Replies: 302
Views: 17646

Re: Preparing for retirement in mid 30s

This is essentially what this blogger did: https://rootofgood.com/ Retired in 30s with 3 kids in a LCOL area on a $40k per year budget. He goes into a lot of detail on ACA subsidies. How much income does he get from his blog? OP does not have plans for that kind of income. About 12-13K a year, per ...
by MBB_Boy
Fri Sep 18, 2020 9:13 am
Forum: Personal Consumer Issues
Topic: Is this guy trying to scam me on a car I'm selling?
Replies: 171
Views: 12664

Re: Is this guy trying to scam me on a car I'm selling?

I am now super invested in this
by MBB_Boy
Fri Sep 18, 2020 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Student Loan ReFi - Fixed or Variable
Replies: 5
Views: 237

Re: Student Loan ReFi - Fixed or Variable

Do the variable. The actual mechanics and timing of the interest rate rising to 4% will take a while. It doesn't HAVE to, but in practice it moves up in small increments mostly in conjunction with the Fed rate. We have been told by the chairman himself that they don't plan on moving it for years. On...
by MBB_Boy
Tue Sep 15, 2020 8:28 am
Forum: Personal Finance (Not Investing)
Topic: Mega Back Door Roth and Avoiding Excess Contributions
Replies: 23
Views: 1122

Re: Mega Back Door Roth and Avoiding Excess Contributions

I think you have it right, and this is similar to how I calculated it myself this year. For your deposits paragraph, I just did that but didn't include the converted amount (17K in your example). That doesn't count toward the total. What this would mean is that you have more room available, because ...
by MBB_Boy
Fri Sep 11, 2020 5:34 pm
Forum: Personal Consumer Issues
Topic: Neccesities for a Man Cave
Replies: 51
Views: 3425

Re: Neccesities for a Man Cave

Redoing the basement that will have a new bedroom, bathroom, sitting area/bar sink along with a TV area. What are necessities in a man cave (mother in law suite a few times a year). 1. Sound system of some sort. 2. Kegerator. 3. Ginormous TV (at the very least 75"). 4. Refrigerator and wine cooler....
by MBB_Boy
Fri Sep 11, 2020 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: So how does CA track residency for tax purposes?
Replies: 37
Views: 2678

Re: So how does CA track residency for tax purposes?

If you have to ask, they think you're a resident :D
by MBB_Boy
Fri Sep 11, 2020 8:57 am
Forum: Personal Consumer Issues
Topic: Office space
Replies: 23
Views: 2026

Re: Office space

Those REGUS prices not only don't seem expensive, they sound cheap, no where you are going to get an office for $200 a month for 6+ hours a day 5 days a week.... just cut down on the calls, no one needs to have that many hours of calls a day.... LOL! It doesn't work that way. One can get on the cho...
by MBB_Boy
Wed Sep 09, 2020 4:09 pm
Forum: Personal Investments
Topic: Can't contact prior employer to rollover 401k
Replies: 21
Views: 2105

Re: Can't contact prior employer to rollover 401k

Why not just bridge it? Move it from old 401K to your IRA temporarily (which gets you around the trustee thing that TSP requires), and then move it from IRA to TSP utilizing the actually responsive IRA provider I don't want to move it into an IRA as I am using a backdoor Roth. If the TSP accepts a ...
by MBB_Boy
Wed Sep 09, 2020 9:22 am
Forum: Personal Investments
Topic: Can't contact prior employer to rollover 401k
Replies: 21
Views: 2105

Re: Can't contact prior employer to rollover 401k

Why not just bridge it? Move it from old 401K to your IRA temporarily (which gets you around the trustee thing that TSP requires), and then move it from IRA to TSP utilizing the actually responsive IRA provider
by MBB_Boy
Sun Sep 06, 2020 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Excel newbie table question
Replies: 8
Views: 829

Re: Excel newbie table question

Normchad wrote: Sat Sep 05, 2020 1:41 pm Pivot tables.

Master the pivot tables and you can do almost anything. (And Vlookup).
Boooo! Get that Vlookup out of here. Index match FTW!
by MBB_Boy
Sun Sep 06, 2020 9:51 am
Forum: Personal Investments
Topic: Mega Backdoor vs Taxable
Replies: 8
Views: 574

Re: Mega Backdoor vs Taxable

Go for MBD! Very little downside - if you really decide you hate it and don't want your money growing tax free and hate the flexibility of changing your holdings whenever you need to with absolutely no tax consequences or paperwork, you can withdraw the contributions and stick them in taxable later.
by MBB_Boy
Sun Sep 06, 2020 9:45 am
Forum: Personal Investments
Topic: Wife is "forcing" me to buy stock(s)
Replies: 112
Views: 8706

Re: Wife is "forcing" me to buy stock(s)

batrleby wrote: Sun Sep 06, 2020 6:51 am Advice from a Boglehead who also follows /r/WallStreetBets:

Stick $3K in a RobinHood account and install the app on her phone.

/jk
Just make sure to enable the diamond hands feature
by MBB_Boy
Sun Sep 06, 2020 9:15 am
Forum: Personal Finance (Not Investing)
Topic: What is PenFed good at?
Replies: 77
Views: 5477

Re: What is PenFed good at?

They're great at working the rules and regulations of the industry. Pretty amazing that they can claim to be a credit union (and therefore pay no federal taxes) while literally being able to accept anyone. They don't have a defined field of membership, yet are able to dodge both taxes AND the tough...
by MBB_Boy
Sat Sep 05, 2020 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Please recommend me a credit card
Replies: 27
Views: 2634

Re: Please recommend me a credit card

I'm going to throw out something a little weird - you should consider getting the Square Cash App / debit card. I am also a CC rewards points aficionado (and have been for years), but I've found that in the 6 months I've been using this thing, I frequently get $20 a week in cashback through the Boos...
by MBB_Boy
Sat Sep 05, 2020 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: What is PenFed good at?
Replies: 77
Views: 5477

Re: What is PenFed good at?

They're great at working the rules and regulations of the industry. Pretty amazing that they can claim to be a credit union (and therefore pay no federal taxes) while literally being able to accept anyone. They don't have a defined field of membership, yet are able to dodge both taxes AND the tough...
by MBB_Boy
Sat Sep 05, 2020 11:45 am
Forum: Personal Investments
Topic: Prepay student loans OR megabackdoor Roth? (26 y/o in Biglaw; 190k salary; 180k debt)
Replies: 82
Views: 4946

Re: Prepay student loans OR megabackdoor Roth? (26 y/o in Biglaw; 190k salary; 180k debt)

If you're uncomfortable with prepaying something as low as 3.25%......what if I told you that after refinancing to a variable student loan post MBA, my wife's student loan is currently 0.18%? I'm in the camp of putting as much in to the MBR as you can and refinancing the student loan to a lower rate...
by MBB_Boy
Sat Sep 05, 2020 11:24 am
Forum: Personal Finance (Not Investing)
Topic: What is PenFed good at?
Replies: 77
Views: 5477

Re: What is PenFed good at?

They're great at working the rules and regulations of the industry. Pretty amazing that they can claim to be a credit union (and therefore pay no federal taxes) while literally being able to accept anyone. They don't have a defined field of membership, yet are able to dodge both taxes AND the toughe...
by MBB_Boy
Fri Sep 04, 2020 9:31 am
Forum: Investing - Theory, News & General
Topic: P2P Lending (Reaching for Yields)
Replies: 35
Views: 2347

Re: P2P Lending (Reaching for Yields)

U.S. Treasuries have had positive nominal returns every single year in their history. That alone doesn't mean much. In addition to things like interest rate risk and default risk, LendingClub has platform risk. That risk has not been manifested yet and might never do so, but it's still there. Every...
by MBB_Boy
Fri Sep 04, 2020 9:22 am
Forum: Investing - Theory, News & General
Topic: "Indexes don't search for solutions. People do."
Replies: 17
Views: 2040

Re: "Indexes don't search for solutions. People do."

It's even worse than you think! You don't have to have a bad year to outweigh 80 years of history, you just need a few bad days! https://www.fool.com/investing/2019/04/11/what-happens-when-you-miss-the-best-days-in-the-st.aspx There are a bunch of different articles talking about these same studies ...
by MBB_Boy
Thu Sep 03, 2020 8:29 am
Forum: Personal Consumer Issues
Topic: charging an EV
Replies: 250
Views: 14267

Re: charging an EV

TL;DR: It costs about the same to drive a Tesla on a road trip as it does a comparable ICE car But don't forget, electricity is WAY cheaper in other parts of the country, just like gas. Texas is like .11 per kwh as an example. It's not certain that the BMW wins in parts of the country where gas is ...
by MBB_Boy
Wed Sep 02, 2020 8:27 am
Forum: Personal Consumer Issues
Topic: charging an EV
Replies: 250
Views: 14267

Re: charging an EV

TL;DR: It costs about the same to drive a Tesla on a road trip as it does a comparable ICE car But don't forget, electricity is WAY cheaper in other parts of the country, just like gas. Texas is like .11 per kwh as an example. It's not certain that the BMW wins in parts of the country where gas is ...
by MBB_Boy
Tue Sep 01, 2020 9:19 am
Forum: Personal Consumer Issues
Topic: charging an EV
Replies: 250
Views: 14267

Re: charging an EV

On your long distance trips, how was the price of charging compared to gas? Let's do the math. A Tesla Model 3 consumes about 280 Wh/mi when driving on the highway and a typical Tesla Supercharger (here in CA) dispenses juice at about $0.32/kWh. It costs just under $0.09/mi in electricity to drive....
by MBB_Boy
Tue Sep 01, 2020 8:29 am
Forum: Personal Finance (Not Investing)
Topic: What do Americans really do about cable and homeowners insurance?
Replies: 51
Views: 4441

Re: What do Americans really do about cable and homeowners insurance?

1. I call them every year. I'm no idiot! We did that with the cable company this year as we've done for the past 20 years. This year their answer was "sorry, we are no longer offering a lower rate". We would have to change to the phone company whose internet is significantly less reliable in our ar...
by MBB_Boy
Mon Aug 31, 2020 8:35 am
Forum: Personal Finance (Not Investing)
Topic: How to get over finance envy
Replies: 322
Views: 44910

Re: How to get over finance envy

The US is a very unequal country when it comes to wealth. There are many very wealthy people. If they want to be happy, less wealthy people just need to get over it. If it makes less wealthy people feel better by thinking the wealthy are living beyond their means, OK. But most people who are wealth...
by MBB_Boy
Mon Aug 31, 2020 8:16 am
Forum: Personal Finance (Not Investing)
Topic: What do Americans really do about cable and homeowners insurance?
Replies: 51
Views: 4441

Re: What do Americans really do about cable and homeowners insurance?

1. I call them every year. I'm no idiot! We did that with the cable company this year as we've done for the past 20 years. This year their answer was "sorry, we are no longer offering a lower rate". We would have to change to the phone company whose internet is significantly less reliable in our ar...
by MBB_Boy
Mon Aug 31, 2020 8:13 am
Forum: Personal Consumer Issues
Topic: So, I was playing Pickleball and Amazon sent me an offer
Replies: 87
Views: 7249

Re: So, I was playing Pickleball and Amazon sent me an offer

Why fight it, just buy the pickle ball paddles I use duck duck go browser and search for most things, Firefox as my secondary, chrome as a last resort... Usually for work looking for some code I wasn't able to find on stack overflow FWIW, I started using the Brave browser instead of Firefox. Way fa...
by MBB_Boy
Tue Aug 25, 2020 11:39 am
Forum: Investing - Theory, News & General
Topic: 2020 SP500 Returns
Replies: 21
Views: 3151

Re: 2020 SP500 Returns

The chartmaker is lucky Tesla isn't in the SP500. Would have really screwed up the axis :D
by MBB_Boy
Thu Aug 20, 2020 1:10 pm
Forum: Investing - Theory, News & General
Topic: 3% FDIC insured savings...too good to be true?
Replies: 29
Views: 7766

Re: 3% FDIC insured savings...too good to be true?

although we still have a bunch of the netspend, brinks and DCU accounts for 5% on $12k total (both of us) - amazed those continue to go on I had $30K wrapped up in those for only a few months... I let it go for quite a while longer after Mango nerfed theirs, and netspend dropped to $1k/account. Sti...
by MBB_Boy
Wed Aug 19, 2020 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Whats best website for homeowners insurance
Replies: 14
Views: 1035

Re: Whats best website for homeowners insurance

Vote for Gabi here. Was really easy earlier this year - just dropped in login info, they connect to current insurer and pull all the details, then they gather a bunch of offers and set up a dashboard for you to view everything. The offers have the same coverage as what you currently have, none of th...
by MBB_Boy
Wed Aug 19, 2020 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: Huge escalations in cost of homeowners insurance
Replies: 57
Views: 5732

Re: Huge escalations in cost of homeowners insurance

Mine went up 34% this year. Used Gabi to shop around (first time trying it) and was very pleased. Went from "Geico" (really Homesite) to Nationwide. Price is back to what it was before. They found me a lower price, but with some carrier I never heard of. Wasn't worth it to me for what I think was $3...
by MBB_Boy
Sat Aug 15, 2020 10:32 am
Forum: Personal Investments
Topic: Has Anybody used Varo??
Replies: 10
Views: 806

Re: Has Anybody used Varo??

I have had an account there with just under 10K since near the beginning. They got a provisional bank charter like a year ago, and just recently got their full approval. They will be launching new products soon as a result. The 2.8% is only for under 10K. If you go over, the ENTIRE account reverts t...
by MBB_Boy
Thu Aug 13, 2020 9:56 am
Forum: Personal Investments
Topic: Anyone using crypto exchanges to earn higher interest on their cash?
Replies: 79
Views: 6181

Re: Anyone using crypto exchanges to earn higher interest on their cash?

The stablecoin investments at the ~8% are also interesting. GUSD is the stablecoin backed by Gemini, which as I already mentioned is regulated by an aggressive entity. I would feel pretty confident in them. USDC is issued by Coinbase, also regulated by the same entity. Turning some $ into those ass...
by MBB_Boy
Thu Aug 13, 2020 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Struggling with Spending
Replies: 79
Views: 8165

Re: Struggling with Spending

I deal with this by keeping a page in my journal called "wish list". Large purchases that I want but talk myself out of go on this page, along with the date. If I stop thinking about buying it until I happen to look at that page again in a few months, I usually don't want it anymore and I cross it o...
by MBB_Boy
Wed Aug 12, 2020 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Venmo newly asking for personal information?
Replies: 20
Views: 2138

Re: Venmo newly asking for personal information?

If it's helpful, the Square Cash App links to your debit card, as opposed to bank account. Not sure if that's a functional difference for you, but also don't know your rationale
by MBB_Boy
Tue Aug 11, 2020 8:31 am
Forum: Personal Investments
Topic: Anyone using crypto exchanges to earn higher interest on their cash?
Replies: 79
Views: 6181

Re: Anyone using crypto exchanges to earn higher interest on their cash?

Claims that very risky loans are "guaranteed" and "can't default" to me is purely disinformation. You are just repeating the claims by industry insiders that really are designed to funnel more money into crypto without consideration for actual risk. I didn’t say “guaranteed”. I said 100%+ collatera...
by MBB_Boy
Tue Aug 11, 2020 8:28 am
Forum: Personal Investments
Topic: Anyone using crypto exchanges to earn higher interest on their cash?
Replies: 79
Views: 6181

Re: Anyone using crypto exchanges to earn higher interest on their cash?

Claims that very risky loans are "guaranteed" and "can't default" to me is purely disinformation. You are just repeating the claims by industry insiders that really are designed to funnel more money into crypto without consideration for actual risk. I didn’t say “guaranteed”. I said 100%+ collatera...
by MBB_Boy
Mon Aug 10, 2020 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: Venmo newly asking for personal information?
Replies: 20
Views: 2138

Re: Venmo newly asking for personal information?

Are there more secure alternatives to Venmo? Inquiring dinosaurs want to know. This is asked sincerely. Dinosaur Specks Zelle, same thing but owned and run by a consortium of banks. However, the implication that Venmo isn't secure isn't one I would agree with. Others are probably in a better positi...
by MBB_Boy
Mon Aug 10, 2020 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: Venmo newly asking for personal information?
Replies: 20
Views: 2138

Re: Venmo newly asking for personal information?

This regulation isn't new, they just haven't been doing it and probably got caught. Or decided that it wasn't worth getting caught later. Not as uncommon as you think - I work in banking (also as a mgmt consultant before) and know at least 2 household names that weren't dotting their Is and crossing...
by MBB_Boy
Mon Aug 10, 2020 4:07 pm
Forum: Personal Investments
Topic: Anyone using crypto exchanges to earn higher interest on their cash?
Replies: 79
Views: 6181

Re: Anyone using crypto exchanges to earn higher interest on their cash?

OP, Thanks for raising the topic. I was an early adopter / investor in a few different crypto assets, and am up a bunch even after the big crash (but boy do I wish I had cashed more out!). Anyway, have spent some time looking at the various options and catching up on some parts of the space. Based o...
by MBB_Boy
Fri Aug 07, 2020 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Accounting for CC cash back in personal budget
Replies: 41
Views: 2225

Re: Accounting for CC cash back in personal budget

I can see the merits of both major approaches (income or offset spending). I chose to offset spending categories, because that's the same way I treat hotel points / upgrades / airline miles. If we buy $15K worth of tickets for an international trip, but only spend $5K - I don't go update my budget f...
by MBB_Boy
Fri Aug 07, 2020 11:25 am
Forum: Personal Finance (Not Investing)
Topic: List of One Stop Shops
Replies: 19
Views: 1617

Re: List of One Stop Shops

SoFi and M1 Finance are options as well.

Weathfront, Betterment, and Personal Capital belong if you are willing to pay for the investing.
by MBB_Boy
Fri Aug 07, 2020 9:10 am
Forum: Investing - Theory, News & General
Topic: Vanguard "sunsetting" CFP consultations
Replies: 137
Views: 11584

Re: Vanguard "sunsetting" CFP consultations

OP, FWIW, Sofi offers free CFP consulations. I used one to double check my math and understanding of the larger IRS limits when planning how to maximize wife's mega-backdoor (I have had one for years, but the max contribution % prevents me from getting to limit. She does not have this problem). All ...
by MBB_Boy
Fri Aug 07, 2020 8:55 am
Forum: Personal Investments
Topic: MEG backdoor: Vanguard Paperwork In Service Roll over
Replies: 9
Views: 497

Re: MEG backdoor: Vanguard Paperwork In Service Roll over

I have never had to get forms notarized when doing this with Vanguard. Are you sure you have that right? Paperwork is a slight hassle, really wish they would allow electronically. But typically I fill out an online form at my employer, they mail me 2 checks (one with earnings, one with contribution)...
by MBB_Boy
Tue Aug 04, 2020 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: In retirement, a $100 monthly expense needs $30,000 in your portfolio
Replies: 179
Views: 22775

Re: In retirement, a $100 monthly expense needs $30,000 in your portfolio

I like this simple way of approaching expenses in retirement. (And usually if I like something simple it means I’m missing an important subtlety.) Of course, it implies one is actually good at tracking their expenses before/in retirement, but that’s a separate issue. One thing that struck me: this ...
by MBB_Boy
Tue Aug 04, 2020 8:11 am
Forum: Personal Consumer Issues
Topic: Any Chase Sapphire Reserve cardholders planning on cancelling?
Replies: 80
Views: 7708

Re: Any Chase Sapphire Reserve cardholders planning on cancelling?

Can someone fill me in on the Pay Yourself Back feature? I haven’t used that at all. You can use your UR points to "pay off" certain charges (currently groceries, dining, home improvement, and select national charities) at a rate of 1.5 cents per point. It's really spending points to get a statemen...
by MBB_Boy
Mon Aug 03, 2020 8:48 am
Forum: Personal Consumer Issues
Topic: Any Chase Sapphire Reserve cardholders planning on cancelling?
Replies: 80
Views: 7708

Re: Any Chase Sapphire Reserve cardholders planning on cancelling?

Chase also charges $75 per year to add an authorized user on this card. It’s criminal. We’ll likely cancel or downgrade, and then go back to the card when things are normal and get a sign up bonus along the way. Before the pandemic, this card was a no brainer. I’m able to run about $50,000 to $75,0...
by MBB_Boy
Sun Aug 02, 2020 8:53 am
Forum: Personal Finance (Not Investing)
Topic: 529 accounts, kids home due to covid, Room and Board
Replies: 28
Views: 2854

Re: 529 accounts, kids home due to covid, Room and Board

You are wanting to take money from your kid's 529 to pay yourself? Is that even allowed? You are not an education expense, as far as I know. I'd be interested in hearing if any other parents whose kid lived at home for all of college was able to do this. Why not just take out whatever is left when ...
by MBB_Boy
Sun Aug 02, 2020 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Borrow from family or sell equities for cash
Replies: 43
Views: 3715

Re: Borrow from family or sell equities for cash

I like the 60 day IRA option. I've done it twice before, and it was very simple. Just have to make sure you don't miss the deadline, and realize you can only do it once every 365 days, no matter how many IRAs you have
by MBB_Boy
Sat Aug 01, 2020 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Do not use Personal Capital
Replies: 165
Views: 36071

Re: Do not use Personal Capital

Since they were acquired, Personal Capital has been stalking me constantly with cold calls from "advisors", who want to sell me on their portfolio management. Now knowing that these guys have access to my account without my permission has left a bad taste in my mouth. Does anyone have a recommendat...