Search found 570 matches

by NewMoneyMustBeSmart
Wed Jul 28, 2021 9:27 pm
Forum: Personal Consumer Issues
Topic: What was your best quality of life improvement for $1000?
Replies: 180
Views: 21347

Re: What was your best quality of life improvement for $1000?

neilpilot wrote: Tue Jun 22, 2021 7:11 pm
LiveSimple wrote: Tue Jun 22, 2021 6:57 pm Puppy !!!
Maybe where you live. Where I live there are way too many puppies that can be had for <=$100 from various rescue agencies.
Cheap to buy; expensive to own!
by NewMoneyMustBeSmart
Wed Jul 28, 2021 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: Refinancing - "Distribution Letter" request from Better
Replies: 21
Views: 1735

Re: Refinancing - "Distribution Letter" request from Better

No, I closed, but it was a pain in the rear. I kept arguing with my “closing expert” and telling her to tell the underwriters they weren’t going to get what they were asking for and it was unreasonable. I told the BofA underwriter that their 3 of their requests were unreasonable and they dropped th...
by NewMoneyMustBeSmart
Wed Jul 28, 2021 7:54 pm
Forum: Investing - Theory, News & General
Topic: Switching half my portfolio to treasuries?
Replies: 39
Views: 4619

Re: Switching half my portfolio to treasuries?

zetsui wrote: Wed Jul 28, 2021 5:21 am 1) Lets say I think the market is grossly overvalued.
"I think the market is grossly overvalued." There you go.

Do you have a newsletter I can subscribe to? I'd love to get input from one who knows where the market will go.
by NewMoneyMustBeSmart
Wed Jul 28, 2021 7:53 pm
Forum: Personal Investments
Topic: Reply to Relationship Manager?
Replies: 41
Views: 3761

Re: Reply to Relationship Manager?

Cui Bono.... A lot of these relationship managers are comped as follows, based on how one explained it to me: 1. How much new money they bring in 2. How much money they lose or retain So they are assigned to you. They get credit for you putting more in; and get dinged if you leave or withdraw. I pre...
by NewMoneyMustBeSmart
Wed Jul 28, 2021 7:41 pm
Forum: Personal Investments
Topic: E*TRADE Line of Credit 1.4% APR
Replies: 37
Views: 3689

Re: E*TRADE Line of Credit 1.4% APR

No, but: ML - 1.5% (floating) TD - 1.25% Schwab - 1.25% I would not think about using margin for more than 2 years for a home loan/cost - based on my personal belief the feds will hold interest down for 18-30 months before raising. Curious if these quoted rates are margin rates or rates for a line ...
by NewMoneyMustBeSmart
Tue Jul 27, 2021 6:30 pm
Forum: Personal Investments
Topic: E*TRADE Line of Credit 1.4% APR
Replies: 37
Views: 3689

Re: E*TRADE Line of Credit 1.4% APR

Cucumbers wrote: Tue Jul 27, 2021 8:58 am Yes, line of credit.
Anyone else negotiate a rate on E*TRADE?
No, but:

ML - 1.5% (floating)
TD - 1.25%
Schwab - 1.25%

I would not think about using margin for more than 2 years for a home loan/cost - based on my personal belief the feds will hold interest down for 18-30 months before raising.
by NewMoneyMustBeSmart
Mon Jul 26, 2021 8:49 pm
Forum: Personal Investments
Topic: Kiddie tax/UTMA
Replies: 15
Views: 1284

Re: Kiddie tax/UTMA

Great. Thank you. This is what I'm planning to do. :) Regarding state tax benefits, is contribution UTMA 529 eligible? If not it will negate the whole purpose of doing this. some states are, some states aren't. Do a web search. Do I need to transfer assets from UTMA to UTMA 529 directly? Can I just...
by NewMoneyMustBeSmart
Sat Jul 24, 2021 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: Ways to build wealth. How to?
Replies: 33
Views: 3907

Re: Ways to build wealth. How to?

newyorker wrote: Sat Jul 24, 2021 10:24 pm How does one build wealth?
Make more than you spend and invest the difference wisely.
by NewMoneyMustBeSmart
Sat Jul 24, 2021 10:18 pm
Forum: Personal Investments
Topic: Ways to lower the Expense Ratio
Replies: 22
Views: 1952

Re: Ways to lower the Expense Ratio

Welcome to the Forum! Does your plan offer in-service withdrawals at age 59.5? If so, you could roll money from your workplace plan into an IRA at a provider of your choosing when you reach 59.5 in 15 months. Prior to that time, and based on what you’ve posted so far, the S&P 500 fund seems lik...
by NewMoneyMustBeSmart
Sat Jul 24, 2021 10:14 pm
Forum: Personal Consumer Issues
Topic: Boglehead Tips for Long Flights
Replies: 76
Views: 8595

Re: Boglehead Tips for Long Flights

Compression socks to prevent blood pooling in lower extremities (and blood clots). Don't take drugs or alcohol. You want to be at your best during an emergency. I fly 75k miles give or take per year for last 20 years. I've never been in an emergency. Compression socks are only needed if you're old ...
by NewMoneyMustBeSmart
Sat Jul 24, 2021 10:12 pm
Forum: Personal Finance (Not Investing)
Topic: How Much for a Consulting Fee?
Replies: 27
Views: 2722

Re: How Much for a Consulting Fee?

An investment research firm has contacted me inquiring if I would be interested in speaking with them about the industry I’ve worked in for over ten years and said they would compensate me at an hourly rate for my time. However, they asked me to propose the hourly rate. I’ve never been contacted fo...
by NewMoneyMustBeSmart
Sat Jul 24, 2021 10:07 pm
Forum: Personal Investments
Topic: Kiddie tax/UTMA
Replies: 15
Views: 1284

Re: Kiddie tax/UTMA

Each child would be entitled to that tax break. (1st $1100 gain is tax-free and another $1100 is taxed at the child's rate) Yes. I'm aware. I just opened up UTMA account with Vanguard for each one of them. May I know what you have been doing? We created 529 accounts in our name. We have been puttin...
by NewMoneyMustBeSmart
Sat Jul 24, 2021 10:02 pm
Forum: Personal Consumer Issues
Topic: Tesla Plaid
Replies: 53
Views: 4740

Re: Tesla Plaid

With the exciting news about how amazingly great and fast this vehicle this is, are there any Boglehead Tesla model S Plaid owners (or future) owners here? It appears the plaid outperforms most exotics and supercars so I'm interested to hear first hand user experience, from ordering to delivery, de...
by NewMoneyMustBeSmart
Sat Jul 24, 2021 9:54 pm
Forum: Personal Consumer Issues
Topic: Podcast for a Long Flight
Replies: 29
Views: 2998

Re: Podcast for a Long Flight

coalcracker wrote: Tue Jul 20, 2021 5:05 am
BillWalters wrote: Mon Jul 19, 2021 10:08 pm Dan Carlin’s Hardcore History.
+1000

His series on WW1 (Countdown to Armageddon?) and Genghis Khan are excellent and engrossing. One or both of these may be behind a paywall now.
And worth it!
by NewMoneyMustBeSmart
Sat Jul 24, 2021 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting from joint account
Replies: 58
Views: 3085

Re: Gifting from joint account

Non-spousal joint accounts during life are typically owned to the extent each owner contributed to the account. So if that is true as to your account and you and your brother each contributed $15k that remains in the account you could each gift $15k to mom without needing to file a gift tax return,...
by NewMoneyMustBeSmart
Fri Jul 23, 2021 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Overpay new home downpayment to write off investment expense
Replies: 7
Views: 652

Re: Overpay new home downpayment to write off investment expense

You paid no interest and took out no loan. I do not see the qualified investment loan. Sounds like a good way to get audited to this non tax attorney. It’s entirely possible this scheme is too complex for me to wrap my non tax specialized head around though, but I doubt it. I'm not sure you're wron...
by NewMoneyMustBeSmart
Fri Jul 23, 2021 10:10 pm
Forum: Personal Investments
Topic: Sell Rentals?
Replies: 19
Views: 1936

Re: Sell Rentals?

mdavis6890 wrote: Fri Jul 23, 2021 6:18 pm Question: Do we sell one of our rentals (and likely others as well shortly)?
Do this:

Let X be the value of the sold properties net of sale.

Put X into https://www.portfoliovisualizer.com/ with your asset allocation.

Look at your annual dividends and yield.

Follow your nose....
by NewMoneyMustBeSmart
Fri Jul 23, 2021 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: Overpay new home downpayment to write off investment expense
Replies: 7
Views: 652

Overpay new home downpayment to write off investment expense

Can I overpay my downpayment and use the money from the title company as an investment loan? We are buying a house for around $2M. Loan is $1.6M (80%). Interest rate is 2.5%. My CPA informed me that while the cap for mortgage interest deduction is at a mortgage of $750k; if I take certain steps I ca...
by NewMoneyMustBeSmart
Wed Jul 21, 2021 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: My house isn't selling
Replies: 228
Views: 37020

Re: My house isn't selling

Buyer story. Purchase contract for X (High dollar house) with 3 month closing date (!) with contingency that it must appraise at or above. Appraisal came in 2 weeks before close and was 5% under. Renegotiated discount of 2.5% (split the difference of 5%). Belly is softening.
by NewMoneyMustBeSmart
Tue Jul 20, 2021 7:23 pm
Forum: Personal Investments
Topic: ACATS security risks?
Replies: 21
Views: 1473

Re: ACATS security risks?

This seems to be the standard, and has been for ages, but are there not obvious security risks with this? Yes. Most of the world operates on trust. There are also security risks with ACH and checks, similar to this. In theory, this is not "cyber security" - this is bank fraud. Banks have ...
by NewMoneyMustBeSmart
Fri Jul 16, 2021 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Starting Charitable Foundation
Replies: 13
Views: 1257

Re: Starting Charitable Foundation

... We wanted to do good in the world, do it with pre-tax money, issue scholarships, and have control over the money and scholarships. My filter suggested that we need to do a private foundation. We hired an attorney (PM me for details) and spent <$1500 to set this up. We wrote up the application f...
by NewMoneyMustBeSmart
Fri Jul 16, 2021 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Starting Charitable Foundation
Replies: 13
Views: 1257

Re: Starting Charitable Foundation

Are there any smart ways to supercharge this and really scale it up into a foundation of sorts, that has it’s own culture and vibe of carrying out the mission? (I am comfortable spending in the neighborhood of 500k-1m per year) We wanted to do good in the world, do it with pre-tax money, issue scho...
by NewMoneyMustBeSmart
Fri Jul 16, 2021 4:00 pm
Forum: Personal Consumer Issues
Topic: Pickleball Rule Question
Replies: 20
Views: 2321

Re: Pickleball Rule Question

New to the game and rules - in a rules summary it says that when the first server loses the serve , the partner then serves from their correct side of the court ( except for the first service sequence of the game ) - is their correct side of the court the one they're in when their partner loses the...
by NewMoneyMustBeSmart
Mon Jul 12, 2021 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: Large Windfall - Advice Needed
Replies: 7
Views: 1995

Re: Large Windfall - Advice Needed

Due to an employee secondary offering, I will be able to liquidate some shares to the tune of ~$250k. From a tax perspective, this will be ordinary income so we will be around $450-500k for the year, married filing jointly. We will fully fund both 401ks. My question is: is it worth funding an IRA, ...
by NewMoneyMustBeSmart
Mon Jul 12, 2021 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: looking for a specific type of credit card
Replies: 111
Views: 6276

Re: looking for a specific type of credit card

goonie wrote: Sat Jul 10, 2021 3:19 pm Any other cards fit what I'm looking for?
https://secure.bankofamerica.com/apply- ... le/#/info/
by NewMoneyMustBeSmart
Mon Jul 12, 2021 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: What has to be titled in the family trust ?
Replies: 33
Views: 3083

Re: What has to be titled in the family trust ?

DoubleComma wrote: Mon Jul 12, 2021 6:18 pm When we built our trust it was $150k could be held outside the trust, but I think that was increased.
What's the significance of $150k?
by NewMoneyMustBeSmart
Mon Jul 12, 2021 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: Random Tax Question
Replies: 6
Views: 582

Re: Random Tax Question

chasingbutterflies wrote: Mon Jul 12, 2021 5:51 pm So I would only be able to deduct if I traveled from one clinic to the other in the same day? Thank you for satisfying my curiosity!
Correct. Since you leave your stethoscope at clinic 1, you might ought need to drive by clinic 1 en route to clinic 2 in order to pick up your medical tools.
by NewMoneyMustBeSmart
Thu Jul 08, 2021 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Appraisers know offer price?
Replies: 28
Views: 3483

Appraisers know offer price?

I was just told by our realtor that the appraisal company will have a copy of the purchase contract and know the offer price for the house. Our home purchase has a contingency that the house must appraise for the amount we offered, or else we can get out of the contract. It seems like a conflict of ...
by NewMoneyMustBeSmart
Mon Jul 05, 2021 8:37 pm
Forum: Investing - Theory, News & General
Topic: Broker sent me an incorrect Portfolio valuation: is there anything I should do?
Replies: 26
Views: 2773

Re: Broker sent me an incorrect Portfolio valuation: is there anything I should do?

steve321 wrote: Mon Jul 05, 2021 2:18 pm Anyway, I now received this kind of official document which is incorrect: is there anything I should do?
I would call or email and ask him to correct it and offer me a lower margin rate to make up for his startling mistake.
by NewMoneyMustBeSmart
Sat Jul 03, 2021 2:54 pm
Forum: Personal Investments
Topic: Investing in Equities on Margin - Looking for Feedback
Replies: 47
Views: 2920

Re: Investing in Equities on Margin - Looking for Feedback

That you have increased returns during a remarkable bull market with leverage is unremarkable. May I gently suggest that you read up on Long Term Capital Management, John Kelly, and the Kelly Criterion. https://en.wikipedia.org/wiki/Kelly_criterion I'm not looking to obtain 30 to 1 leverage a la LT...
by NewMoneyMustBeSmart
Fri Jul 02, 2021 7:33 pm
Forum: Personal Investments
Topic: Investing in Equities on Margin - Looking for Feedback
Replies: 47
Views: 2920

Re: Investing in Equities on Margin - Looking for Feedback

That you have increased returns during a remarkable bull market with leverage is unremarkable.

May I gently suggest that you read up on Long Term Capital Management, John Kelly, and the Kelly Criterion.

https://en.wikipedia.org/wiki/Kelly_criterion
by NewMoneyMustBeSmart
Thu Jul 01, 2021 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: My dilemma... What would you do?
Replies: 160
Views: 14314

Re: My dilemma... What would you do?

Your thoughts and input are greatly appreciated. The person who suggested you rediscover your market value by polishing resume and interviewing was spot on. This will help you understand your BATNA. A few other ideas: 1. Ask them to hire you a chauffeur and car 2. Ask them to pay you to relocate 3....
by NewMoneyMustBeSmart
Tue Jun 29, 2021 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Is this job offer ruined?
Replies: 134
Views: 16843

Re: Is this job offer ruined?

At my company we don’t lose people over 10 or 20%. Not in this economic climate with it being an employee‘s market
by NewMoneyMustBeSmart
Mon Jun 28, 2021 9:58 pm
Forum: Personal Consumer Issues
Topic: Tesla Model Y Ride + Quality
Replies: 190
Views: 17786

Re: Tesla Model Y Ride + Quality

My model X has much smoother ride on 19” vs 20” tires. I’m a little old to consider the “look” of high vs low profile tires, and I personally think an SUV/CUV looks natural with a beefier tire. What PotatoPotahto said. I purchased the X with the big tires. Ignoring diminished battery life, the tire...
by NewMoneyMustBeSmart
Sun Jun 27, 2021 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: How to generate income from cash?
Replies: 14
Views: 3028

Re: How to generate income from cash?

I have a margin rate of 1.25% - how did you get yours guaranteed for 10 years? Good luck! I was able to negotiate this as part of bringing in all my self directed accounts (close to $1M) into this brokerage. That's awesome! Are you sure it's 1.25% or maybe FFR+1%? What brokerage is that, I'd like t...
by NewMoneyMustBeSmart
Sat Jun 26, 2021 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: How to generate income from cash?
Replies: 14
Views: 3028

Re: How to generate income from cash?

I believe there are lots of people in this forum who have sizable margins that can be borrowed at low rates. So seeking some ideas. I have a margin rate of 1.25% - how did you get yours guaranteed for 10 years? Some ideas below. Whether they are good or not is TBD: 1. borrow $200k from margin at 1....
by NewMoneyMustBeSmart
Thu Jun 24, 2021 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: car got rear ended , claims adjuster will not co-operate
Replies: 68
Views: 6166

Re: car got rear ended , claims adjuster will not co-operate

my 2014 mercedes c-class got rear ended with damages/repair work amounting to 7.5k , the insurance is young america / fred loya insurance . I have made a claim for car damges and they have created a claim number . I am trying to get in touch with this company claims department which is hard to get ...
by NewMoneyMustBeSmart
Mon Jun 21, 2021 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: Job opportunity dilemma (albeit good) - Need advice desperately!!
Replies: 37
Views: 3389

Re: Job opportunity dilemma (albeit good) - Need advice desperately!!

anon_investor wrote: Sun Jun 20, 2021 11:43 pm You are still young, whatever you decide, make sure not to burn any bridges.
I agree, but I burned more bridges that most people see in their careers, and I still succeeded. But not as much as I could have!
by NewMoneyMustBeSmart
Mon Jun 21, 2021 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: Job opportunity dilemma (albeit good) - Need advice desperately!!
Replies: 37
Views: 3389

Re: Job opportunity dilemma (albeit good) - Need advice desperately!!

I have already gone through all the interviews (4 interview - 1 hour each + cognitive assessment, etc) so it has been an extensive process to say the least but overall everything has gone very smooth. Wow, that doesn't sound at all extensive to me. We decision will be made in the next 2 weeks and I...
by NewMoneyMustBeSmart
Sun Jun 20, 2021 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Golden Handcuffs
Replies: 104
Views: 15771

Re: Golden Handcuffs

Chris33 wrote: Sun Jun 20, 2021 5:42 pmI haven't commented in a long time, but I'd love to hear from the "winners."
What will you do after you retire. Don’t retire until you figure that out.

Could you go to half time?
by NewMoneyMustBeSmart
Sat Jun 19, 2021 10:16 am
Forum: Personal Investments
Topic: RSUs-sell or keep (FAANG)
Replies: 28
Views: 2338

Re: RSUs-sell or keep (FAANG)

1) The most recent RSUs were vested about a week ago. What would be my tax implications if we sell them now? Short-term capital gain tax? The amount I want to sell would be around $150K. 2) What would be the tax implications for those RSUs that we have had for more than a year if I want to sell mor...
by NewMoneyMustBeSmart
Sat Jun 19, 2021 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Changing from Cash Purchase to Mortgage
Replies: 2
Views: 348

Changing from Cash Purchase to Mortgage

Hello, Summary: Will a bank care about financing a mortgage for a property with a purchase contract that says "Cash Sale?" We recently closed on a purchase contract to buy a new primary residence. In the original purchase contract we wrote down (and signed) "Cash Purchase." We we...
by NewMoneyMustBeSmart
Wed Jun 16, 2021 9:20 pm
Forum: Personal Investments
Topic: ISO stock options exercise strategy after quit
Replies: 14
Views: 1216

Re: ISO stock options exercise strategy after quit

And if you hadn't been lucky, do you think you'd be here giving that advice now? People who got lucky in the casino make a lot of noise, the majority just silently take their losses. Hard to say. You're describing confirmation bias, and I don't think that's it. The expected value should be consider...
by NewMoneyMustBeSmart
Tue Jun 15, 2021 7:25 pm
Forum: Personal Investments
Topic: ISO stock options exercise strategy after quit
Replies: 14
Views: 1216

Re: ISO stock options exercise strategy after quit

Could someone please let me know your experience or strategy for such situation? Sell all in 90 days? Or hold? Or hybrid, i.e. sell 1/3 and buy back another 2/3 to hold? Risk, tax etc??? I bought them as they vested to minimize AMT, but unless you have a time machine, my experience and recommendtio...
by NewMoneyMustBeSmart
Tue Jun 15, 2021 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Mentorship - Engineering to Business
Replies: 24
Views: 2346

Re: Mentorship - Engineering to Business

heard). Are the questions listed below appropriate questions to ask? I have a feeling they might be too personal but these are the answers I'm after.] I don't like your questions; they seem canned. Maybe just my style. Here's what I'd respond to if I were the fellow you want to talk with: Dear NewM...
by NewMoneyMustBeSmart
Sun Jun 13, 2021 11:52 am
Forum: Investing - Theory, News & General
Topic: Question about how/why the super-rich pay so little in tax
Replies: 29
Views: 2421

Re: Question about how/why the super-rich pay so little in tax

So you all think basically they take out loans and DO NOT REPAY THEM AT ALL during their lifetime, and then the estate pays off the loans with stocks that are sold after death with a stepped up basis? But what kind of loan does not require any yearly/monthly payment (and then is payed off all at on...
by NewMoneyMustBeSmart
Sun Jun 13, 2021 10:50 am
Forum: Personal Investments
Topic: At what point do you stop contributing to employer sponsored retirement plans?
Replies: 34
Views: 5140

Re: At what point do you stop contributing to employer sponsored retirement plans?

go2run wrote: Fri Jun 11, 2021 5:43 pm Current Contributions:
$27,850 his Roth 401k (includes EE and employer contributions)
$19,000 her 457 (pre-tax)
+$10,500 her Voluntary Additional Contribution
$50,000 taxable
*Unable to contribute directly to Roth IRA due to income limits
Does it make sense to do a backdoor Roth in addition?
by NewMoneyMustBeSmart
Tue Jun 08, 2021 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: WF or Schwab Jumbo Mortgage?
Replies: 9
Views: 969

Re: WF or Schwab Jumbo Mortgage?

Your WF rate is horrible if that is what you are getting after the $1M asset discount (0.5% discount). If that is true, that means your starting rate is 3.375%. For comparison, I am currently rate locked for 2.625% at WF not including any kind of asset discounts. Maybe. Is yours conforming or non-c...
by NewMoneyMustBeSmart
Sat Jun 05, 2021 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: WF or Schwab Jumbo Mortgage?
Replies: 9
Views: 969

WF or Schwab Jumbo Mortgage?

Would you advise against using Wells Fargo v. Schwab for a somewhat better deal? Both Wells Fargo and Schwab are offering a mortgage at 2.875% Fixed 30 Year (jumbo). House is 2.5M. Schwab won't do 20% down; they want 25% down. WF will do 20% down, and to get the rate I have to move $1M to them. I've...
by NewMoneyMustBeSmart
Sat May 29, 2021 7:47 pm
Forum: Investing - Theory, News & General
Topic: "Stay the course"?
Replies: 27
Views: 4932

Re: "Stay the course"?

I’m often inclined to change my asset allocation, and I know of no clear rationale for not doing so. Take note of Mr. Emerson's words, with especial focus on the word "foolish": A foolish consistency is the hobgoblin of little minds, adored by little statesmen and philosophers and divines...