Search found 89 matches

by Mullins
Wed Nov 20, 2019 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Car negotiation question
Replies: 46
Views: 2927

Re: Car negotiation question

So, this is how some dealerships operate. The goal of the "internet" dept., comprised of the sales people who answer the phone taking price inquiries, is simply this: to get you in and hand you over to a sales person. The quoted price is designed to do just that, they know if you shop that price aro...
by Mullins
Tue Nov 19, 2019 6:22 pm
Forum: Investing - Theory, News & General
Topic: Warren Buffet says NOT to diversify?
Replies: 32
Views: 3473

Re: Warren Buffet says NOT to diversify?

Mr. Buffet has his skills. Most other people don't. Consider he intends to leave his wife with a couple of index funds.
by Mullins
Fri Nov 15, 2019 10:14 am
Forum: Personal Investments
Topic: Which SS strategy makes more sense?
Replies: 24
Views: 1863

Re: Which SS strategy makes more sense?

To help me decide I also looked at the dollar amount I'd have to self-fund if delaying my SS until 70, and further noted it wouldn't be until I'm 82 that I break-even, but what really grabbed me was that it wouldn't be until 95+ that I'd maybe match what I estimate I might have gained on the savings...
by Mullins
Thu Nov 14, 2019 5:50 pm
Forum: Personal Investments
Topic: Tax advisor
Replies: 13
Views: 1159

Re: Tax advisor

What are the circumstances that make you think this?
by Mullins
Thu Nov 14, 2019 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Sell Higher or Lower Basis first?
Replies: 17
Views: 639

Re: Sell Higher or Lower Basis first?

What else is happening in your accounts this year, such as other realized gains/losses up to now, or distributions yet to be declared by year's end? How about carryover losses from previous year, if any? What other income will you be reporting? What tax bracket does it put you into? Then you'll have...
by Mullins
Thu Nov 14, 2019 9:26 am
Forum: Personal Investments
Topic: How to combine finances with your spouse? Recently married/early30s
Replies: 72
Views: 4974

Re: How to combine finances with your spouse? Recently married/early30s

However, with his student loan it doesn't quite work. If he puts less money in the joint accounts in order to pay his loan, I'd be responsible more for our daily expenses (which I'm ok with), and I'll be the only one who puts money in the savings account, that's no difference than me paying off his...
by Mullins
Wed Nov 13, 2019 4:32 pm
Forum: Personal Consumer Issues
Topic: Productizing an idea
Replies: 28
Views: 1532

Re: Productizing an idea

First: Never fall in love with your idea! And never throw good money after bad. OK, then, success is always going to be about how well the item's marketed and if there's a profitable market for it, sizable enough to make it worthwhile, where you can easily identify and reach that market. Then the re...
by Mullins
Wed Nov 13, 2019 9:57 am
Forum: Personal Investments
Topic: How to combine finances with your spouse? Recently married/early30s
Replies: 72
Views: 4974

Re: How to combine finances with your spouse? Recently married/early30s

Anything beyond that we haven't quite figured out yet, we keep a rough budget (34k/yr) and try to stick to it. That's it. Any advice on how we actually do it would be much appreciated! Figure out the budget for covering both your monthly living expenses (housing, utilities, cable, groceries, etc.) ...
by Mullins
Tue Nov 12, 2019 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: What do I do with S corp money?
Replies: 7
Views: 365

Re: What do I do with S corp money?

I'm going to guess it may be helpful to leave a portion in the corporate bank account for further operating expenses and unforeseen, unexpected business expenses. You don't want to be cashing out personal investments or savings to loan the corporation funds from time to time.
by Mullins
Tue Nov 12, 2019 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Selling house with no commissions,fair deal?
Replies: 38
Views: 1738

Re: Selling house with no commissions,fair deal?

If I'm understanding this correctly, you agreed to take $765k along with several conditions but think it unfair should the new owner subsequently invest more of his money into the property and attempt to sell the property for its then revised market value. I think they're entitled to do whatever th...
by Mullins
Tue Nov 12, 2019 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Evaluating going self employed, what to consider?
Replies: 11
Views: 555

Re: Evaluating going self employed, what to consider?

Thanks guys for the comments. Yes, I think ideally I would love to create my own business WHILE employed...like keeping one foot on each side of the creek. I know that not being 100% committed to a business is a recipe for failure, but on the other side I am risk averse. I thought about a franchise...
by Mullins
Tue Nov 12, 2019 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Selling house with no commissions,fair deal?
Replies: 38
Views: 1738

Re: Selling house with no commissions,fair deal?

If I'm understanding this correctly, you agreed to take $765k along with several conditions but think it unfair should the new owner subsequently invest more of his money into the property and attempt to sell the property for its then revised market value. I think they're entitled to do whatever the...
by Mullins
Tue Nov 12, 2019 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Evaluating going self employed, what to consider?
Replies: 11
Views: 555

Re: Evaluating going self employed, what to consider?

So, my view is franchises can be a poor investment when you consider the costs, so much goes to the franchiser and also the franchisee is so dependent on the franchiser for materials, support, marketing... plus the franchisee's hands are tied with that they're permitted to do. To go into your own bu...
by Mullins
Tue Nov 12, 2019 9:31 am
Forum: Investing - Theory, News & General
Topic: Rich people are hoarding cash
Replies: 153
Views: 23233

Re: Rich preparing for market drop

Maybe what's actually happening isn't that the wealthy are going to cash to hedge a stock market decline but rather going to cash to buy up when Sellers exit the market due to fears whipped up by these kinds of articles.
by Mullins
Mon Nov 11, 2019 2:31 pm
Forum: Personal Investments
Topic: Asset Allocation for larger portfolio
Replies: 29
Views: 1950

Re: Asset Allocation for larger portfolio

Seems to me you could not touch the equity portion of your portfolio, and spend down some of the 20 year's worth of BND/cash for ten years and then still end up with enough to cover what you budget you'd need in BND/cash to go through a bear market... with the full percentage of the equities then ha...
by Mullins
Thu Nov 07, 2019 10:13 am
Forum: Personal Investments
Topic: Self employed retirement options
Replies: 10
Views: 703

Re: Self employed retirement options

Thank you all for the guidance. They dont have alot to save each year. Can they just have their own traditional or Roth IRA funded with salary/ distribution from s- corp business and not to worry about employee distributions from business? Yes, you can fund a traditional or ROTH IRA with earned inc...
by Mullins
Thu Nov 07, 2019 10:05 am
Forum: Personal Investments
Topic: VTSAX vs Target Retirement Date vs Lazy 3 Fund...
Replies: 14
Views: 1481

Re: VTSAX vs Target Retirement Date vs Lazy 3 Fund...

You're 30 with an investment timeline of at minimum 30 years and can invest $200k at this time for the next several years? I'd be 100% in total stock market or S&P 500 mutual funds. Because... you're the very epitome of why we can believe that the USA stock market will continue to prosper. As newer ...
by Mullins
Thu Nov 07, 2019 9:52 am
Forum: Personal Investments
Topic: Extra cost to become an S-corp vs sole proprietorship?
Replies: 7
Views: 511

Re: Extra cost to become an S-corp vs sole proprietorship?

I believe you can give yourself some fringe benefits over and above the salary and deductible for the S-Corp, which would be claimed as additional personal income yet not taxed for SS and medicare.
by Mullins
Thu Nov 07, 2019 9:48 am
Forum: Personal Investments
Topic: convincing someone of the wisdom of 'buy and hold' instead of selling in a market crash
Replies: 38
Views: 2624

Re: convincing someone of the wisdom of 'buy and hold' instead of selling in a market crash

what if you knew that the market was going to go down so you sell? So, equity moves aren't linear and neither is the market. It goes up, down and sideways. What happens is you get out but then, say the market reverses. There's a rally. It goes on for a couple of days. A week. Do you get back in? If...
by Mullins
Wed Nov 06, 2019 1:58 pm
Forum: Personal Investments
Topic: Extra cost to become an S-corp vs sole proprietorship?
Replies: 7
Views: 511

Re: Extra cost to become an S-corp vs sole proprietorship?

As the sole shareholder of your S-Corp... you'll determine (along with a knowledgeable CPA) how much to pay yourself in wages which will be subject to payroll taxes and the balance comes to you as a dividend which is not subject to payroll taxes. But you will have to pay the employer's part of the w...
by Mullins
Tue Nov 05, 2019 1:18 pm
Forum: Personal Investments
Topic: Retirement
Replies: 21
Views: 2716

Re: Retirement

I'd say no, you're not screwed, because people have a cognitive tendency to believe the way things are today for them will be the way things will always be for them, yet you have 30 years to go and a lot of things which you can't foresee can happen in that time.
by Mullins
Mon Nov 04, 2019 3:16 pm
Forum: Personal Investments
Topic: Do you consider pensions as part of your overall asset allocation?
Replies: 67
Views: 5059

Re: Do you consider pensions as part of your overall asset allocation?

Do you value these income flows along with social security as fixed income as part of an overall asset allocation? For example, if we have $1 Million in 401k/roth and $1 Million in taxable along with $60,000 income from pensions, $30,000 from social security, how do you value the pensions/social se...
by Mullins
Mon Nov 04, 2019 12:15 pm
Forum: Personal Investments
Topic: Do you consider pensions as part of your overall asset allocation?
Replies: 67
Views: 5059

Re: Do you consider pensions as part of your overall asset allocation?

Do you value these income flows along with social security as fixed income as part of an overall asset allocation? For example, if we have $1 Million in 401k/roth and $1 Million in taxable along with $60,000 income from pensions, $30,000 from social security, how do you value the pensions/social se...
by Mullins
Mon Nov 04, 2019 10:12 am
Forum: Personal Investments
Topic: How much money is really needed in retirement?
Replies: 74
Views: 9187

Re: How much money is really needed in retirement?

When I was 30 I wouldn't have known to factor into my retirement expenses such things as computer purchases, smart devices, internet, NetFlix or other subscriptions... planning is like travel, you pick a destination and re-align from time to time as you go along.
by Mullins
Thu Oct 31, 2019 2:27 pm
Forum: Personal Investments
Topic: Vanguard's SpecID Lists Average Cost instead?
Replies: 9
Views: 705

Vanguard's SpecID Lists Average Cost instead?

I had switched the Cost Basis in my Vanguard account from its default setting not too long ago to SpecID. Now when I display the lots, and these are of covered shares, I get the same, exact cost per share for every lot regardless of the date or year acquired over the last several years (except the l...
by Mullins
Wed Oct 30, 2019 3:13 pm
Forum: Personal Investments
Topic: 2019 Update
Replies: 4
Views: 732

Re: 2019 Update

peddler12 wrote:
Wed Oct 30, 2019 2:03 pm
Since the market is now at a peak, at least for today anyway.
Good qualifier you added there. Just as an aside, recently I've been reading through some 2015, 2016 and 2017 threads, the take-away being how many times a poster has said they viewed the market at that time as being at a peak.
by Mullins
Wed Oct 30, 2019 2:19 pm
Forum: Personal Investments
Topic: Capital Gains Question
Replies: 5
Views: 587

Re: Capital Gains Question

Rexindex wrote:
Wed Oct 30, 2019 1:09 pm
I want to pay taxes on the capital gains I am hit with from a mutual fund sale. How do I estimate what to pay?
You could run a sample 1040 through your tax prep software or perhaps this online calculator might be helpful: http://www.moneychimp.com/features/tax_calculator.htm
by Mullins
Wed Oct 23, 2019 11:47 am
Forum: Personal Finance (Not Investing)
Topic: When is S Corp better than sole proprietor?
Replies: 87
Views: 3587

Re: When is S Corp better than sole proprietor?

And don't overlook that as an S-Corp you might be able to deduct certain expenses or parts thereof you're incurring in that business which you perhaps may not be able to deduct as an individual. That's something to research with your CPA.
by Mullins
Wed Oct 23, 2019 11:31 am
Forum: Personal Investments
Topic: How do you get over an investing mistake?
Replies: 42
Views: 2060

Re: How do you get over an investing mistake?

You've let your emotions get involved. You see it as a a loss and I see it as a gain. Changing your perspective and thoughts about it will change how you feel about it. What's more, people tend to remember the bad stuff and feel its pain over remembering the good stuff and delighting in its pleasure...
by Mullins
Tue Oct 22, 2019 4:10 pm
Forum: Personal Investments
Topic: How can you capture the "Total Stock Market" with Fidelity?
Replies: 17
Views: 2262

Re: How can you capture the "Total Stock Market" with Fidelity?

Fidelity's version of the total stock market fund, FSKAX: https://fundresearch.fidelity.com/mutua ... /315911693

They also have another version featuring a zero expense ratio.

If it's not available in your plan, the S&P 500 index is comparable enough in results.
by Mullins
Tue Oct 22, 2019 2:53 pm
Forum: Personal Investments
Topic: Determining One's Starting Account Value for Retirement
Replies: 3
Views: 769

Re: Determining One's Starting Account Value for Retirement

If you are even thinking about whether to add that last paycheck, you aren't ready to retire. Well, that's actually not what I was thinking. I meant, in other words, that's it - that's all the career earnings you're gonna make, it's all said and done, wrapped up and tucked away. Despite that, nothi...
by Mullins
Mon Oct 21, 2019 11:10 am
Forum: Personal Investments
Topic: How do you cope with regret over selling too soon?
Replies: 72
Views: 8721

Re: How do you cope with regret over selling too soon?

You sold for a gain. That's good. You learned a lesson. That's good too. The lesson and the real regret here would be that you listened to stock market television entertainment and permitted it to affect you. If it helps, I'm assuming the stock price did not rise linearly so if I'm correct about tha...
by Mullins
Sat Oct 19, 2019 7:26 pm
Forum: Personal Investments
Topic: Determining One's Starting Account Value for Retirement
Replies: 3
Views: 769

Determining One's Starting Account Value for Retirement

A question to those retired or retiring, as I am soon. And you're going to withdraw X% annually from your account every year to fund that retirement. And so you sit down to calculate how much in dollars to withdraw the very first time and... well, account values fluctuate, don't they? So is there a ...
by Mullins
Fri Oct 18, 2019 3:36 pm
Forum: Personal Investments
Topic: Retiring and Getting Over The Fear of Quitting?
Replies: 84
Views: 9813

Re: Retiring and Getting Over The Fear of Quitting?

I am employed as a lawyer. I don’t see how my job could be restructured to allow me to retire, as I envision retirement. Well, brainstorming here to get the ball rolling to where work could be streamlined or arranged to fit your picture of retirement: some rough ideas would range from the obvious s...
by Mullins
Fri Oct 18, 2019 1:15 pm
Forum: Personal Investments
Topic: Retiring and Getting Over The Fear of Quitting?
Replies: 84
Views: 9813

Re: Retiring and Getting Over The Fear of Quitting?

But I like having a paycheck (I don't like earning it), and I love being able to save money and invest it. And if you did, how did you get over that fear? Is it about getting over the fear or is it about figuring out how you want to live? If I may ask, what is it you do for a living that you hate? ...
by Mullins
Sun Oct 06, 2019 12:47 pm
Forum: Personal Investments
Topic: Where to put excess savings?
Replies: 14
Views: 2394

Re: Where to put excess savings?

So, first a note: Though I understand what you mean, I'd adjust my thinking to never describe or perceive any of my money as being "extra," "surplus," "funny money" or "spare change." It's ALL money, equally valuable, hard earned and hard to replace. Have no internal thermostat at which point you co...
by Mullins
Sat Oct 05, 2019 10:56 am
Forum: Personal Investments
Topic: Deducting building costs from business income?
Replies: 6
Views: 434

Re: Deducting building costs from business income?

Your business owns the property in which you use some of the space to run the business... so if there's other space you can lease out wouldn't that make it so you may be able to deduct expenses associated with operating and leasing space not used by the business as well as the proportional share of ...
by Mullins
Fri Sep 27, 2019 12:23 pm
Forum: Personal Investments
Topic: Taking A Crack At This...[Portfolio Review]
Replies: 23
Views: 2216

Re: Taking A Crack At This...[Portfolio Review]

I'm still trying to decide what to use in my Roth IRA as I haven't yet started one. Same as I'd advise for the other, VFIAX, Vanguard 500 Index. They may be different types of accounts but it's all one big pocket. And at age 25ish, lots of years ahead for a stock index fund to work for you. So, bac...
by Mullins
Tue Sep 03, 2019 8:25 pm
Forum: Personal Investments
Topic: How do you let go of decisions that turned out to be the wrong ones?
Replies: 63
Views: 5224

Re: How do you let go of decisions that turned out to be the wrong ones?

I'd say the way to let regrets go, isn't easy, but it starts with to stop thinking about it. As long as you keep thinking about it, the feelings those thoughts generate will follow, and fester, and keep eating away at you. At some point it gets ridiculous because the amount of time feeling regret be...
by Mullins
Fri Aug 23, 2019 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Do you sacrifice to save?
Replies: 97
Views: 8958

Re: Do you sacrifice to save?

If you're saving a lot of your income and on target for your goals (or to exceed them) and still have enough for your everyday needs, fun and wishes... and taxes... if you're happy then I'd say that's all that counts. Because we're all hurtling into the future so you have to enjoy now or maybe go st...
by Mullins
Thu Aug 22, 2019 10:45 am
Forum: Personal Investments
Topic: 64 yrs young! Am I making the best choices and going in the right direction?
Replies: 4
Views: 1265

Re: 64 yrs young! Am I making the best choices and going in the right direction?

Age: 63 – planning to retire at FRA (66 or 67) Debt: Mortgage $88,000 ($850 mo payment which include escrow for property taxes) 30 yr loan at 3.86% Far too many funds. That's a management and expense issue. You can take whatever tax-advantaged funds and put them all into one fund, or two. Next, you...
by Mullins
Thu Aug 22, 2019 9:54 am
Forum: Personal Investments
Topic: Anyone else more aggressive in retirement than required?
Replies: 52
Views: 4557

Re: Anyone else more aggressive in retirement than required?

I work here and there on contract and if it really got bad I could go back into more 3/4 time on contract and make another $100K to invest during a time the market is suffering or at least to stop pulling money out at that time I was thinking that too, if necessary then go back to work, but I'm won...
by Mullins
Thu Aug 22, 2019 9:41 am
Forum: Personal Investments
Topic: $1M cash: how to invest
Replies: 40
Views: 3749

Re: $1M cash: how to invest

Trying to get some advice on how to invest a $1M cash inheritance? I don't need the funds in the short-term. My fee-only advisor is suggesting I invest it all lumpsum into index funds 70/30 allocation. I am a 37 y/o physician. I feel anxious about investing it all at once -- my thought was to place...
by Mullins
Mon Aug 19, 2019 3:41 pm
Forum: Personal Investments
Topic: Getting Married - Portfolio Optimization Questions
Replies: 7
Views: 822

Re: Getting Married - Portfolio Optimization Questions

what is the advantage of gifting between partners? I believe it's also not a taxable event. Do we each incorporate a "consulting" business (or maybe just one?), then combine real estate and other projects\consulting under this for tax write offs? Maybe separate businesses, one for real estate, one ...
by Mullins
Mon Aug 19, 2019 3:25 pm
Forum: Personal Investments
Topic: When Did You Ease Up On Saving Aggressively?
Replies: 170
Views: 13873

Re: When Did You Ease Up On Saving Aggressively?

For me, quite the other way around. I save more aggressively the closer I get. One reason is because I can... I make more than some years prior. And that savings plan will end when there's no new income to accumulate.
by Mullins
Thu Aug 15, 2019 8:25 am
Forum: Personal Investments
Topic: Paralysis
Replies: 16
Views: 3376

Re: Paralysis

We have Wellesley at Vanguard VWINX in an old IRA. I really like that find. It just goes with no drama... ...Can we get away with 70 bonds and 30 stock? Just a reminder you've already experienced a 30/70 allocation because Wellesley is one-third stocks, two-thirds bonds (with a focus on higher quar...
by Mullins
Wed Aug 14, 2019 1:58 pm
Forum: Personal Investments
Topic: Laid off - 59yo - advice please
Replies: 44
Views: 7088

Re: Laid off - 59yo - advice please

I say start building on that 10-15k per year in freelance. +1. Our culture has us ingrained on being so dependent on getting a job we forget how to make money. You have a marketable skills, knowledge and experience but knowing how to create a lucrative freelance income from that requires another se...
by Mullins
Wed Aug 14, 2019 12:51 pm
Forum: Personal Investments
Topic: what to buy in this market
Replies: 15
Views: 1777

Re: what to buy in this market

gram wrote:
Wed Aug 14, 2019 12:42 pm
Any specific funds/stocks/investment recommendations in the current casino type market with swings triggered by tweets from one person.
Just about any whiskey stock.
j/k
by Mullins
Tue Aug 13, 2019 7:58 am
Forum: Personal Investments
Topic: Can having wealthy parents be a justification for a more aggressive investment strategy?
Replies: 97
Views: 7840

Re: Can having wealthy parents be a justification for a more aggressive investment strategy?

I believe there's a sense of self-esteem, purpose and accomplishment which comes from attaining goals yourself. Despite what I may inherit I set my eyes on becoming self-reliant. What's more, your last surviving parent may live to be 103 and if you're still waiting at the age of 73 for that inherita...
by Mullins
Wed Aug 07, 2019 3:38 pm
Forum: Personal Investments
Topic: My NEW Portfolio + The State of the Market (DOWN)
Replies: 56
Views: 3524

Re: My NEW Portfolio + The State of the Market (DOWN)

I bought into the VTSMAX fund. You mean VTSAX. Vanguard Total Stock Market Index Fund. after seeing the terrible performance of the stock market last week and this week (Monday was the worst day of the year) Which is still up from the single worst day of 2018. What do I do!? Looking at the news is ...