Search found 95 matches

by vtjon02
Tue Sep 29, 2020 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing a lake house with my parents
Replies: 37
Views: 3605

Re: Purchasing a lake house with my parents

Hi all, An opportunity has arisen for my wife and me to purchase a lake house in our town. This would be our 2nd home. We own our first home outright. My parents, who also live in our town, are interested in being co-investors in the lake home. The purchase price of the lake home would be $700K. We...
by vtjon02
Fri Sep 25, 2020 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Captive Insurance [Can you pay yourself a salary and open a 401(k)?]
Replies: 4
Views: 326

Re: Captive Insurance [Can you pay yourself a salary and open a 401(k)?]

You should speak to the captive manager and attorney and then they will have to approach the regulators at the state of domicile. Captives are regulated licensed insurance companies and depending on the domicile this may or may not be allowed. It is certainly not prudent to do this if the captive is...
by vtjon02
Thu Sep 24, 2020 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Advice for young people
Replies: 15
Views: 1874

Re: Advice for young people

Develop your human capital, it will be the best investment you ever make. Do you have an education? Is the job you are entering going to give you the training that you need? Is there room to grow? When you are young the money you make is far less important than being in a role that will educate you ...
by vtjon02
Thu Sep 17, 2020 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: New York Life - Invest as Favor for Friend
Replies: 40
Views: 2221

Re: New York Life - Invest as Favor for Friend

Good afternoon all, An acquaintance recently started at New York Life as an insurance salesman. I'd like to help him out (his family has been a great help to me professionally and personally) although investing outside Vanguard (or investing in something other than a passive index fund) goes agains...
by vtjon02
Thu Sep 17, 2020 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Discretionary spending strategy
Replies: 21
Views: 1862

Re: Discretionary spending strategy

We each get a fun money allocation each month. It has grown a lot over the years. An amount is transferred into individual accounts. There is no accountability on this money but if we want to exchange gifts it comes out of this. It also makes gifting more fun because it can truly be a surprise. I us...
by vtjon02
Thu Sep 17, 2020 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Preparing for retirement in mid 30s
Replies: 311
Views: 21041

Re: Preparing for retirement in mid 30s

I agree with public college. Is that cost included in the $45k/yr? When my wife and I die, they will inherit a good chunk of money. It will be roughly equivalent to an inflation-adjusted 1.5M today. Because my retirement plan is to only spend 3% plus inflation and counts on portfolio growth of 3% p...
by vtjon02
Mon Sep 14, 2020 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Financial Elder Abuse/Neglect/Inheritance Theft - lawsuit or mediation?
Replies: 71
Views: 6054

Re: Financial Elder Abuse/Neglect/Inheritance Theft - lawsuit or mediation?

Have you ever thought of giving up and moving on with your life? You mentioned you didn't think mediation would net you much. These are things I at times wonder for myself. It's a lot of money. Yet the quality of my life, the years left of my life are precious. And fighting, and angst, and reminisc...
by vtjon02
Fri Sep 11, 2020 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: Should we buy a $3M+ house with parental help?
Replies: 167
Views: 11911

Re: Should we buy a $3M+ house with parental help?

There are always strings attached. I know from experience. It's also already been proven by the fact that there would be less money available in 5 years (for some reason). I'd not turn down free money, but the above gives me pause. It doesn't really make sense why this ability to gift would go down...
by vtjon02
Fri Sep 11, 2020 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Reduce our mortgage rate for 12 month CD?
Replies: 8
Views: 698

Re: Reduce our mortgage rate for 12 month CD?

Going to be closing soon on our no cost refi, 15 year at 2.75%. Our mortgage broker reached out to us yesterday with an offer to reduce to 2.625 if we opened a $25k 12 month CD earning essentially nothing (~0.1%). Mortgage amount is $700k, home value $1.2M on recent appraisal. Won’t be in major rus...
by vtjon02
Wed Sep 09, 2020 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Dog Bite Case (for real - and I own the dog)
Replies: 56
Views: 7653

Re: Dog Bite Case (for real - and I own the dog)

To summarize - the only reason I'd pay this claim directly is to avoid a premium bump of some unknown amount. The problem is that your insurance company already knows of the incident. So even though they may not end up paying a claim, they know you have a dog with a dog bite history. So they could ...
by vtjon02
Fri Sep 04, 2020 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Daughter almost ready to launch into professional life
Replies: 45
Views: 4305

Re: Daughter almost ready to launch into professional life

The beginning of your career is where you set yourself up for the future. The single best financial thing you can do is to invest in your human capital. Fresh out of school that capital is worth something but not much; and honestly probably far less than what your starting compensation is. But you h...
by vtjon02
Thu Sep 03, 2020 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: Career Advice
Replies: 15
Views: 2044

Re: Career Advice

Thank you for the thoughts ShowMeTheER and Watty! As far as going back, I think staying 3 to 5 years would make it the most beneficial amount of time for me to get more experience to where I could leave for a CFO role and it also is a long enough period of time where it doesn't make it seem like my...
by vtjon02
Thu Sep 03, 2020 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: A personal finance checklist for a couple who are about to start living together and get married soon after
Replies: 21
Views: 1920

Re: A personal finance checklist for a couple who are about to start living together and get married soon after

We are about to start living together and get married soon after. What personal finance advise do you have for us? Here are some of the things we already discussed. Prenup for pre-marital assets and combine everything we make after marriage Agree on a long-term financial goal and stick to it Have s...
by vtjon02
Thu Sep 03, 2020 8:27 am
Forum: Personal Investments
Topic: Should I take short term gains and face the taxes?
Replies: 94
Views: 4729

Re: Should I take short term gains and face the taxes?

OP, I am a CFA and a CPA. But I don't even attempt to buy and actively trade equities because I don't think I have much if any edge, and I don't want to dedicate the time. I believe in indexing and staying the course. When the market is down, the only thing that I do is tax loss harvest and try to ...
by vtjon02
Wed Sep 02, 2020 5:34 pm
Forum: Personal Investments
Topic: Should I take short term gains and face the taxes?
Replies: 94
Views: 4729

Re: Should I take short term gains and face the taxes?

OP, I am a CFA and a CPA. But I don't even attempt to buy and actively trade equities because I don't think I have much if any edge, and I don't want to dedicate the time. I believe in indexing and staying the course. When the market is down, the only thing that I do is tax loss harvest and try to t...
by vtjon02
Tue Sep 01, 2020 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Cancer Insurance
Replies: 43
Views: 3342

Re: Cancer Insurance

What is the "payout"? Is it in addition to medical expenses that are already covered by medical insurance? Or is it considered secondary coverage to your primary health insurance? Basically, the sum is paid if he gets cancer. It's as simple as that. I think it's only offered as part of a package to...
by vtjon02
Mon Aug 31, 2020 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone have experience with Excess Social Security withholding due to more than one employer for the tax year?
Replies: 8
Views: 392

Re: Anyone have experience with Excess Social Security withholding due to more than one employer for the tax year?

An easy fix is to adjust your federal withholding down to compensate for this. That way you won't end up with an unnecessary refund and an interest free loan to the government.
by vtjon02
Sat Aug 29, 2020 1:04 am
Forum: Personal Finance (Not Investing)
Topic: ‘Play money’ invested by Dad growing huge - what would you do?
Replies: 99
Views: 13310

Re: ‘Play money’ invested by Dad growing huge - what would you do?

If you do any charitable giving, you might want to consider a DAF for the appreciated securities.
by vtjon02
Thu Aug 27, 2020 11:56 pm
Forum: Personal Finance (Not Investing)
Topic: Profit Sharing vs. Cash Bonus
Replies: 16
Views: 1493

Re: Profit Sharing vs. Cash Bonus

I’d take the profit sharing plan and I don’t think it’s even remotely close given tax implications, ability to get more money into tax deferred accounts and low target for current year under cash plan.
by vtjon02
Wed Aug 26, 2020 12:06 am
Forum: Personal Investments
Topic: Suggestions for 100x moonshots
Replies: 86
Views: 11976

Re: Suggestions for 100x moonshots

I have a very bogleheadian portfolio. Mostly VTSAX (or FSKAX) and recently venturing into the other 2 legs of the 3 fund portfolio. However, I do have a "play money" account which is at present about 4% of my investible assets (and 2% of NW). I have had some success with this play money. But nothin...
by vtjon02
Tue Aug 25, 2020 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Tax implications of opening a joint account as an unmarried couple
Replies: 12
Views: 910

Re: Tax implications of opening a joint account as an unmarried couple

That said, it's amazing to me how difficult it is to find specific, practical information about combining finances pre-marriage online. I'm sure plenty of couples are or have been in this position. I would surmise that it is the same reason that financial pressures is one of the top reasons for div...
by vtjon02
Tue Aug 25, 2020 2:26 pm
Forum: Personal Investments
Topic: Emerging Market ETF Concentration
Replies: 4
Views: 474

Emerging Market ETF Concentration

Hello, My desired asset allocation is 75/25 equity to bonds. My desired equity mix is: 55% US - VTI 45% International I obviously have a good sized concentration of international equities to get close to an overall global equity allocation. My desired international mix is: 80% Total International VX...
by vtjon02
Tue Aug 25, 2020 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Possible job change, juggling timing/options
Replies: 5
Views: 507

Re: Possible job change, juggling timing/options

When does this incentive program pay out/vest/become available to you under normal conditions? It dribbles out slowly, over the course of years. Basically it gets topped off each year if/when we have a bonus, and then paid out a small fraction each year. Other than a layoff, the only way to get the...
by vtjon02
Tue Aug 25, 2020 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: New Job Offer - $100,000 Raise - Would I Be a Fool to Not Accept?
Replies: 94
Views: 7904

Re: New Job Offer - $100,000 Raise - Would I Be a Fool to Not Accept?

Lots of great comments and perspective in this thread. However I have questions. Why is the income so much larger? Are the expectations proportionally large? Did you by any chance really overstate your current capabilities? Wishing you good luck! My thoughts exactly. Your post doesn't really indica...
by vtjon02
Tue Aug 25, 2020 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Possible job change, juggling timing/options
Replies: 5
Views: 507

Re: Possible job change, juggling timing/options

I think I need a sanity check here. I've been looking to move away from my small, remote town to a larger, more accessible environment, one that's closer to the ocean. Work is fine, it's more about location, climate, and amenities. I've got some leads, including one that's looking pretty promising....
by vtjon02
Mon Aug 24, 2020 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Umbrella Insurance - Worst Case
Replies: 142
Views: 9952

Re: Umbrella Insurance - Worst Case

Yes should definitely have renters insurance to cover belongings and enough liability coverage to be able to buy an umbrella. And then buy a $1-$2M umbrella policy above it. It is cheap coverage and could come in handy. Let's say you have a close friend or relative over and something disastrous happ...
by vtjon02
Thu Aug 20, 2020 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: Filed IRS taxes once, received two different refunds? [5% interest on refunds after April 15th]
Replies: 18
Views: 722

Re: Unexpected Small IRS Deposit in my Checking Account

I had not seen that news, but it must be that. Thank you all for the quick replies.
by vtjon02
Thu Aug 20, 2020 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Filed IRS taxes once, received two different refunds? [5% interest on refunds after April 15th]
Replies: 18
Views: 722

Unexpected Small IRS Deposit in my Checking Account

[merged this thread and its replies into the existing topic - moderator prudent] I just noticed that a small unexpected deposit was put into our checking account a few days ago. I filed our taxes on 7/15 and got our expected refund on 7/22. We did not qualify for a stimulus payment. But yet $20.51 ...
by vtjon02
Mon Aug 17, 2020 8:53 am
Forum: Personal Finance (Not Investing)
Topic: Too much cash is making me panic
Replies: 29
Views: 4371

Re: Too much cash is making me panic

Pay down the mortgage . +1 I was in a similar scenario a few years ago. I know you only asked about $25k, so take it for what it is. I will tell you that once you get within striking range, paying off the entire mortgage is fantastic on the cash flow and an emotional victory. I'm assuming no other ...
by vtjon02
Sat Aug 15, 2020 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Best HSA Provider for Rollover
Replies: 31
Views: 1290

Re: Best HSA Provider for Rollover

I am an active participant in a new HSA through my work at Via Benefits. There is a $2 fee per month to be able to invest, and can only invest after keeping $1,000 in cash. I max this out but still a small balance as only recently converted to a HDHP. I intend to not spend the funds until retirement...
by vtjon02
Thu Aug 06, 2020 5:58 pm
Forum: Personal Investments
Topic: Help my Aunt decide on Edward Jones or somewhere else
Replies: 55
Views: 3222

Re: Help my Aunt decide on Edward Jones or somewhere else

My best friend is an EJ financial advisor. To support him I am in their lowest cost program to repeatedly buy fractional shares of ETFs. This program is almost never made available to their clients and it still is very expensive. I pay about 2% of the purchase amount per year in unnecessary commissi...
by vtjon02
Mon Jul 27, 2020 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Buying Beach House in New England
Replies: 44
Views: 4263

Re: Buying Beach House in New England

Not really surprised to hear the opinion that what we have saved is nowhere near enough to enjoy life, fund grandchildren educations and buy a $1M beach house. Please do not listen to the folks here who wouldn’t retire unless they had $10M in the bank and 10 years left to live. You have $6M. Let’s ...
by vtjon02
Mon Jul 20, 2020 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: How to find a new job early in your career
Replies: 6
Views: 493

Re: How to find a new job early in your career

Let's say, hypothetically , you were one year into a prestigious consulting job out of undergrad, and therefore had no real industry experience. How would you go about finding a new job? How would you know what the likely salary of job postings would be or even whether you would be likely to be con...
by vtjon02
Mon Jul 20, 2020 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Comparing three insurance options
Replies: 4
Views: 514

Re: Comparing three insurance options

Given your ages, health and your comment about peace of mind coming from the PPO plan, I would go with option 2 and also fully fund the HSA. I was going to suggest option 1 but reconsidered due to your "peace of mind" comment. Maybe after a year or two of option 2 you'll feel comfortable moving to o...
by vtjon02
Fri Jul 17, 2020 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Death of estranged parent
Replies: 54
Views: 5933

Re: Death of estranged parent

You need to hire an estate attorney, they go to the court and have someone appointed as the administrator. Very important: If multiple people do not want to be involved in the estate settlement process, do not ask to both be appointed as administrators. My sister and I were both appointed and the at...
by vtjon02
Mon Jul 13, 2020 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Helping my nephew out of his rut
Replies: 82
Views: 8954

Re: Helping my nephew out of his rut

I have a nephew in his mid 20s that needs some guidance. He recently lost his mother (my sister) after her long battle with cancer. His father is not in the picture and/or fairly useless. I feel like I need to try to help him. My nephew has built up about $10K in high interest (~18%) debt spread ov...
by vtjon02
Thu Jul 09, 2020 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Why is libor so low?
Replies: 5
Views: 538

Re: Why is libor so low?

Libor rates are going away soon, I think at the end of 2021. You should probably research what the replacement rate will be.
by vtjon02
Sat Jun 27, 2020 9:14 am
Forum: Personal Finance (Not Investing)
Topic: Which College degrees are worthwhile?
Replies: 248
Views: 17284

Re: Which College degrees are worthwhile?

Accounting by far. It might be boring but if you work in public accounting for 5 years and become a cpa, you will have a well paying job for the rest of your life.
by vtjon02
Wed Jun 24, 2020 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Merit increase: lump sum bonus vs additional PTO?
Replies: 22
Views: 1189

Re: Merit increase: lump sum bonus vs additional PTO?

Nobody is thinking about taxes. You don’t pay extra tax when you get to take more time off. You do with a bonus. That makes the PTO option better. I’ve heard this a few times in my career that I was at the top of my level for compensation. My response has always been the same: if you want to retain ...
by vtjon02
Wed Jun 10, 2020 12:27 pm
Forum: Personal Consumer Issues
Topic: Tipping why % of bill and not flat amount?
Replies: 159
Views: 9450

Re: Tipping why % of bill and not flat amount?

When I go out, even if it is just me getting a cheap breakfast or lunch, there is a minimum tip of $5 or 20% (whichever is higher) for decent service. If the service is not decent I do not tip. If service is great the percentage is higher. This works for me. I have some friends and relatives that ar...
by vtjon02
Fri Jun 05, 2020 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Seller breach of contract on home. I need advice.
Replies: 64
Views: 6824

Re: Seller breach of contract on home. I need advise.

If you want to force the sale the key words are specific performance (https://en.wikipedia.org/wiki/Specific_performance). You will likely need to hire an attorney. Good luck, there are way too many ways for both buyers and sellers to get out of contracts. You will also nearly always not be able to...
by vtjon02
Wed Jun 03, 2020 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Wife's expectations of subsidizing her friends' lives
Replies: 82
Views: 4592

Re: Wife's expectations of subsidizing her friends' lives

-Single income, community property state -I'm already seeing a therapist, but more sound counsel is always welcome -long rant alert In a previous thread, I mentioned that my wife is a bit spendy, but I'm OK with her making certain lifestyle choices - fancy gym, personal training, weekly spa days, e...
by vtjon02
Fri May 29, 2020 11:33 am
Forum: Personal Investments
Topic: Buying Voo - Robinhood or Vanguard?
Replies: 41
Views: 2004

Re: Buying Voo - Robinhood or Vanguard?

For periodic purchases I'm quite a fan of M1. Fractional shares, great customer service, streamlined interface and app. They've also been very responsive to suggestions. I submitted an idea through email, got an email back from the CEO a day later, and it was on the site a few weeks later. I use it ...
by vtjon02
Fri May 29, 2020 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Employer approval for a side gig
Replies: 43
Views: 2382

Re: Employer approval for a side gig

Looking for some basic advice here and thoughts on what sort of outcome I should expect. I work as a manager in a relatively large organization. Typical work weeks are 55-60 hours and to the best of my knowledge I am considered a value added employee and my work ethic is respected and has never bee...
by vtjon02
Thu May 28, 2020 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Employer approval for a side gig
Replies: 43
Views: 2382

Re: Employer approval for a side gig

Looking for some basic advice here and thoughts on what sort of outcome I should expect. I work as a manager in a relatively large organization. Typical work weeks are 55-60 hours and to the best of my knowledge I am considered a value added employee and my work ethic is respected and has never bee...
by vtjon02
Wed May 13, 2020 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Turning 30. Living 30s without regrets
Replies: 87
Views: 9886

Re: Turning 30. Living 30s without regrets

Hi group, I am turning 30 soon. When I was 22 and got my first job, I read a ton of what to do in my 20s that seems to have helped me a ton. Some things that have helped: - Maxed out my 401k every year. 401k is ~275k - Travelled as much as I could. Visited 10 countries in Europe. - Started an HSA a...
by vtjon02
Mon Mar 23, 2020 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Housing Market Response in this environment?
Replies: 57
Views: 7592

Re: Housing Market Response in this environment?

Just a tangential thought, I've never been happier to be a homeowner than right now. I can stay inside my comfortable house, not think about rent increasing, landlord entering, moving etc. I can stockpile goods and install extra locks. I have a friend whose lease is up and she has told me that it is...
by vtjon02
Sun Jan 05, 2020 10:18 pm
Forum: Personal Finance (Not Investing)
Topic: Rollover pension into 401(k) or IRA?
Replies: 10
Views: 873

Re: Rollover pension into 401(k) or IRA?

It seems really obvious to me now that a IRA rollover is better than a 401k rollover, but now the challenge is that my father is refusing to use Vanguard, ugh. This is because he is deeply uncomfortable with Vanguard not having offices and people to talk to in-person. Pray that I may somehow quickl...
by vtjon02
Mon Dec 30, 2019 4:18 am
Forum: Personal Finance (Not Investing)
Topic: CFA confidentiality
Replies: 48
Views: 2935

Re: CFA confidentiality

The CFA Standards of Professional Conduct include: https://www.cfainstitute.org/en/research/multimedia/2018/professional-conduct-standard-IIIE-preservation-of-confidentiality "Members and Candidates must keep information about current, former, and prospective clients confidential unless: The inform...