Search found 35 matches

by fastrak99
Fri Sep 06, 2019 5:45 pm
Forum: Personal Investments
Topic: How to show accountant how VUSXX is taxed ..?
Replies: 20
Views: 1918

Re: How to show accountant how VUSXX is taxed ..?

Thank you for the responses - I was able to clear it up and make sure that we are all on the same page regarding the taxation.
by fastrak99
Fri Sep 06, 2019 5:16 pm
Forum: Personal Investments
Topic: How to show accountant how VUSXX is taxed ..?
Replies: 20
Views: 1918

How to show accountant how VUSXX is taxed ..?

What official literature and/or prospect can I provide to the accountant to be sure that I am taxed properly on VUSXX and other money market funds (taxed on Federal but not state level, etc)?
by fastrak99
Sat Jul 13, 2019 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35230

Re: Have $3m at 33, "approach to career" advice needed

Thought I would post a short update. After approx. a year at my job, I left. It just didn’t seem worth it. Hopefully this isn’t a shortsighted decision, but I just felt too busy and wasn’t happy day to day. I met a lot of interesting people and found a part time remote role through someone I met at...
by fastrak99
Thu May 09, 2019 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 436
Views: 116706

Re: If your net worth is over $3 million, how did you do it?

Agree with most of which have been said here - the investment / saving route definitely works to get to high net worth but takes MANY many years of compounding, diligent saving, being thrifty etc. To me achieving that number took starting and scaling a number of eCommerce businesses (that run outsid...
by fastrak99
Wed Apr 24, 2019 11:54 pm
Forum: Personal Finance (Not Investing)
Topic: Whats the Point of Climbing the Corporate Ladder?
Replies: 164
Views: 18767

Re: Whats the Point of Climbing the Corporate Ladder?

The point of climbing the corporate ladder is like the point of doing anything else in life. It comes with its pros, cons, risks and rewards. Much like any other field / topic / area of life there will be people naturally drawn to that, some who vehemently oppose and despise corporate structure and ...
by fastrak99
Tue Apr 23, 2019 3:31 pm
Forum: Personal Consumer Issues
Topic: Can one own a Porsche 911 that is not a money pit?
Replies: 79
Views: 11290

Re: Can one own a Porsche 911 that is not a money pit?

The 911 is IMHO one of the best cars to get in and out of (in the sports car segment) without as much as losing a dime on the entire ordeal. I've owned 2 911s and have made money on both. Stick to desirable models, sub 100K and you will do just fine. Do your research, know some of the pitfalls of ma...
by fastrak99
Fri Apr 05, 2019 1:21 pm
Forum: Personal Investments
Topic: Tax clarification of money market vs bond index investing
Replies: 4
Views: 356

Re: Tax clarification of money market vs bond index investing

Thank you for the clarification.

So regardless whether the dividends are reinvested or not, do you still pay taxes on them each year?
by fastrak99
Fri Apr 05, 2019 12:34 pm
Forum: Personal Investments
Topic: Tax clarification of money market vs bond index investing
Replies: 4
Views: 356

Tax clarification of money market vs bond index investing

I'm still partially confused - as I know there are definitely differences in tax implications of Treasury Money Market Funds (vusxx) vs Total Bond Index Fund (vbtlx). Vusxx is taxed at federal income levels, while total bond index is taxed at capital gains, correct? Also - do you pay the taxes on di...
by fastrak99
Sun Mar 24, 2019 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Where do you find high paying jobs?
Replies: 72
Views: 6076

Re: Where do you find high paying jobs?

Even though I have an advanced degree - I learned early on between my personality, politics and long hours to be put in - 100K in any 'traditional' route was a no-go. I realized that 100K / year (goal over a decade ago) was to figure out a way to sell 6 'trinkets' a day for $50 each. A trinket could...
by fastrak99
Thu Jan 17, 2019 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 802
Views: 84073

Re: Why are you NOT buying rental properties?

Great thread. I am also one of the ones on here who believes in the boglehead philosophy - but has an 'inkling' to figure out what this real estate hype has been all about with rentals etc. But the more I read on it from current / past tenants - the more I am dissuaded of learning, looking into this...
by fastrak99
Fri Dec 21, 2018 12:19 pm
Forum: Personal Consumer Issues
Topic: Buyer's Remorse on purchasing a Mercedes
Replies: 82
Views: 7359

Re: Buyer's Remorse on purchasing a Mercedes

You would have to run some numbers and do some additional thinking on what to do here - and what the replacement would cost you as well, as well as flipping all this around. Many other variables come into play as in how much you drive (for depreciation), gas costs (can be huge on an AMG), and repair...
by fastrak99
Mon Dec 17, 2018 12:12 pm
Forum: Personal Consumer Issues
Topic: peloton fitness bike
Replies: 22
Views: 2917

Re: peloton fitness bike

Been seeing commercials for this seems like a great business model / product
by fastrak99
Mon Dec 17, 2018 11:14 am
Forum: Personal Consumer Issues
Topic: Can I buy a Tesla?
Replies: 140
Views: 12185

Re: Can I buy a Tesla?

I briefly skimmed all the replies and am surprised I did not see the one line of reasoning that I use to approach every car purchase, and that makes the most sense to me. My question always is --- what is this car going to 'cost' me for year 1, 2 and 3 of ownership, if and when I do decide to sell h...
by fastrak99
Sun Dec 16, 2018 1:07 pm
Forum: Personal Consumer Issues
Topic: Audi S4 vs S3
Replies: 36
Views: 2745

Re: Audi S4 vs S3

Ended up with an 2016 S4 certified pre owned has 43k on it. Audi changed their CPO program, now instead of 2 years 50k (whichever comes first) it is 1 year unlimited miles with the option to extend it to 2 years unlimited for 3290 or 3 years for 4930....interested in hearing opinions and thoughts o...
by fastrak99
Wed Nov 14, 2018 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: [Financial] Habits of the Rich
Replies: 238
Views: 36893

Re: [Financial] Habits of the Rich

I’ve never actively thought until recently (last 5 years) about being ‘successful’ or ‘rich/wealthy’ habits, or what it takes to get there. Many habits and though process that takes to get there, I adopted at an early age (circumstance / biology / 5 closest who you are surrounded with), and have kep...
by fastrak99
Thu Nov 08, 2018 1:03 pm
Forum: Personal Investments
Topic: Capital gains on Total Bond Market Index Fund?
Replies: 4
Views: 541

Re: Capital gains on Total Bond Market Index Fund?

Still playing around with numbers and trying to get my head around the investing game - Its correct to assume that capital gains apply to VBTLX as long as its held for 365 days or longer? How does that work when its time to 'rebalance' the portfolio (If have to sell or buy some shares) - do I wait ...
by fastrak99
Thu Nov 08, 2018 12:33 pm
Forum: Personal Investments
Topic: Capital gains on Total Bond Market Index Fund?
Replies: 4
Views: 541

Capital gains on Total Bond Market Index Fund?

Still playing around with numbers and trying to get my head around the investing game - Its correct to assume that capital gains apply to VBTLX as long as its held for 365 days or longer? How does that work when its time to 'rebalance' the portfolio (If have to sell or buy some shares) - do I wait 3...
by fastrak99
Wed Nov 07, 2018 11:49 am
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 896
Views: 148355

Re: High Earners - What's Your Profession?

Great thread - skimming through I'm surprised there are not more business owners / small business owners in here. I have an engineering background / worked in corporate for several years out of school - but realized really fast it will take a long time for me to climb to the 100K+ ranks, or build an...
by fastrak99
Sun Oct 07, 2018 6:02 pm
Forum: Personal Consumer Issues
Topic: Help with choices for new car
Replies: 28
Views: 2746

Re: Help with choices for new car

IF the main concern is winter driveability - dedicated snow / winter tires will fix that to you better than any other 'new' car can. It is incredible the difference it causes. Taken you do not drive your lexus like a maniac, at 10/10s of the car potential, you will not notice any significant downsid...
by fastrak99
Thu Sep 13, 2018 11:37 am
Forum: Personal Investments
Topic: Any issues keeping <$1MIL in VMFXX (Money Market Fund)?
Replies: 21
Views: 4272

Re: Any issues keeping <$1MIL in VMFXX (Money Market Fund)?

Thank you for all the replies and suggestions -- So my next step is to figure out which of these money market funds to purchase - for my specific tax situation. How do I go about figuring that out? I'm in the highest tax bracket (> $1/MIL income). I reside in Arizona. This will be in a taxable accou...
by fastrak99
Wed Sep 12, 2018 11:38 pm
Forum: Personal Investments
Topic: Any issues keeping <$1MIL in VMFXX (Money Market Fund)?
Replies: 21
Views: 4272

Re: Any issues keeping <$1MIL in VMFXX (Money Market Fund)?

rob wrote:
Wed Sep 12, 2018 10:13 pm
Maybe consider the tax free MM fund instead of Federal - depending on your tax situation?
Thank you - I will consider this as well.
by fastrak99
Wed Sep 12, 2018 11:33 pm
Forum: Personal Investments
Topic: Any issues keeping <$1MIL in VMFXX (Money Market Fund)?
Replies: 21
Views: 4272

Re: Any issues keeping <$1MIL in VMFXX (Money Market Fund)?

I guess the OP is referring to protection levels. FDIC for bank accounts, etc... Ah. Thanks, TS. Well then, back to my post, it depends on OP's risk tolerance. Personally, I'd be fine with it, but I'm not OP. And there are plenty of folks who'd never place the funds in anything not FDIC-insured whi...
by fastrak99
Wed Sep 12, 2018 10:06 pm
Forum: Personal Investments
Topic: Any issues keeping <$1MIL in VMFXX (Money Market Fund)?
Replies: 21
Views: 4272

Re: Any issues keeping <$1MIL in VMFXX (Money Market Fund)?

Going to start my Vanguard journey with $500K-1MIL (3 fund portfolio) - but while I'm waiting to sort out details of allocation I want, etc -- are there any issues or repercussions with keeping that money in VMFXX in the meantime for up to 3 months or so? That way I can start collecting yields imme...
by fastrak99
Wed Sep 12, 2018 10:00 pm
Forum: Personal Investments
Topic: Any issues keeping <$1MIL in VMFXX (Money Market Fund)?
Replies: 21
Views: 4272

Any issues keeping <$1MIL in VMFXX (Money Market Fund)?

Going to start my Vanguard journey with $500K-1MIL (3 fund portfolio) - but while I'm waiting to sort out details of allocation I want, etc -- are there any issues or repercussions with keeping that money in VMFXX in the meantime for up to 3 months or so? That way I can start collecting yields immed...
by fastrak99
Thu Aug 23, 2018 6:21 pm
Forum: Personal Investments
Topic: Vanguard up and running now what?
Replies: 11
Views: 977

Re: Vanguard up and running now what?

How long have you been making 1.5 mill a year? Self-Employed? Inherited money? Yes, you need a CPA accountant to help you on what type of accounts you are eligible for. You can't just open a Roth or a self 401k etc etc without actually knowing why that would be the appropriate in your situation. An...
by fastrak99
Thu Aug 23, 2018 5:49 pm
Forum: Personal Investments
Topic: Vanguard up and running now what?
Replies: 11
Views: 977

Re: Vanguard up and running now what?

Current and past income are around 2.5MIL/year. Pick up a phone and call Vanguard. Ask for Vanguard PAS. They'll be happy to assist you. :beer No call me, I'll do it for 50% less! I don't mind paying for some consultation - but don't think I need ongoing oversee for .3% -- unless they can help me g...
by fastrak99
Thu Aug 23, 2018 5:41 pm
Forum: Personal Investments
Topic: Vanguard up and running now what?
Replies: 11
Views: 977

Re: Vanguard up and running now what?

sport wrote:
Thu Aug 23, 2018 5:40 pm
Where is the money now? What kind of accounts? Roth IRA, traditional IRA, taxable, 401k, 457, etc.
Money is all held in cash ( :x :x )

Thats my question - what do I need setup? Roth IRAs? Traditional? What will help me answer these questions?
by fastrak99
Thu Aug 23, 2018 5:36 pm
Forum: Personal Investments
Topic: Vanguard up and running now what?
Replies: 11
Views: 977

Vanguard up and running now what?

Finally got my vanguard account opened - and decided after much reading, risk evaluation and my hands free approach -- to go the 3 fund portfolio route. Also will potentially keep some cash in vanguard money market fund. How do I go about actually purchasing or funding my accounts correctly - for be...
by fastrak99
Thu Aug 16, 2018 1:24 pm
Forum: Personal Investments
Topic: What are the cons of multi-family housing investments?
Replies: 4
Views: 797

What are the cons of multi-family housing investments?

I'm not sure if this is the place to talk about it or not - but I thought it is appropriate as a comparison to market investing. As I'm starting to look into investing more and more - I've been seeing and hearing a lot about investing in multi-family real estate (through syndication) - with returns ...
by fastrak99
Wed Aug 08, 2018 1:46 pm
Forum: Personal Investments
Topic: Help me understand a 'Life Income Plan' ?
Replies: 19
Views: 2091

Re: Help me understand a 'Life Income Plan' ?

I am a little surprised that variable universal life appears to have made so much of a comeback for salespeople. It has such a negative connotation I guess that is why they use the moniker Life Income Plan. I assume the meaning is that these plans will provide Life Income to the salesperson that se...
by fastrak99
Wed Aug 08, 2018 11:21 am
Forum: Personal Investments
Topic: Help me understand a 'Life Income Plan' ?
Replies: 19
Views: 2091

Re: Help me understand a 'Life Income Plan' ?

If you talk to financial advisors salespeople and tell them that you are looking for ways to invest $1M, they will come up with these kinds of products. From the link, 'Life Income Plan' is a dressed up version of 'variable universal life plan' it isn't even dressed up. Just has a name tag. But it ...
by fastrak99
Tue Aug 07, 2018 6:54 pm
Forum: Personal Investments
Topic: Help me understand a 'Life Income Plan' ?
Replies: 19
Views: 2091

Re: Help me understand a 'Life Income Plan' ?

Thank you for all the heads up - While I have not compared the two back to back it does seem that this 'Life Income Plan' is a dressed up version of 'variable universal life plan' - and have a hard time understanding the way either works. I am still confused on how it would be beneficial to my curre...
by fastrak99
Tue Aug 07, 2018 4:18 pm
Forum: Personal Investments
Topic: Help me understand a 'Life Income Plan' ?
Replies: 19
Views: 2091

Help me understand a 'Life Income Plan' ?

As my interest in investing recently picked up - I have started looking into options of where to invest ~1MIL. Through much reading, etc the best I came up with is the 3 Fund Portfolio. At the current time, it makes sense to me - especially for a buy and hold route, without engulfing in much specula...
by fastrak99
Thu Aug 02, 2018 11:58 am
Forum: Personal Investments
Topic: Help set my investing mindset right with where to go managing Millions?
Replies: 11
Views: 1269

Re: Help set my investing mindset right with where to go managing Millions?

Thanks everyone. All great points to consider. I have spent entire night last night reading about the 3 fund portfolio - it resonates very well with my thinking, passive investing and long term outlook. I'm currently trying to figure out allocation between the three. Yes as someone pointed out - my ...
by fastrak99
Tue Jul 31, 2018 10:31 pm
Forum: Personal Investments
Topic: Help set my investing mindset right with where to go managing Millions?
Replies: 11
Views: 1269

Help set my investing mindset right with where to go managing Millions?

So Im totally new to the investing game in the markets. I have focused the last 10 years on building up my business and cash flow, and it always made sense to learn more and invest into the business, then anything I could have potentially ‘accumulated’ and ‘compounded’ over the same time. I've alway...