Search found 78 matches

by tryingtogetahead
Mon Sep 28, 2020 12:01 am
Forum: Personal Consumer Issues
Topic: A simpler car.
Replies: 233
Views: 16543

Re: A simpler car.

We have enough to buy whatever we want but I don't feel compelled spend $20-30k on a car... am I crazy? Yes. Just lease something decent and you'll always have a warranty. If you have the means, life is too short to drive old needy cars. That's just silly. :oops: Why is it silly? Calculate the all-...
by tryingtogetahead
Sun Sep 20, 2020 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1665
Views: 240481

Re: Fidelity as a one stop shop

I don’t understand why anyone would open a CMA. Isn’t it easier to just have a checking account with a local bank and a brokerage account with Fidelity or another broker? You can use the local bank for spending and typical cash flow needs and transfer excess monthly to Fidelity for investing? What a...
by tryingtogetahead
Fri Sep 11, 2020 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off sub 4% mortgage interest rate early
Replies: 167
Views: 14677

Re: Paying off sub 4% mortgage interest rate early

2.99% 15 year paid if off a few months ago. Why? Several reasons. 1) I like cash flow 2) I don't like debt 3) I have this thing where I can't let things linger. Can't have unread emails in my inbox, when I start looking at buying something, I gotta research, shop and pull the trigger soon, my only ...
by tryingtogetahead
Wed Sep 09, 2020 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: What % of income to spend on car?
Replies: 122
Views: 8525

Re: What % of income to spend on car?

Read this. It will answer all of your questions. https://www.financialsamurai.com/the-110th-rule-for-car-buying-everyone-must-follow/ IMO, the Accord is the best value car on the road. Just make sure it fits within the 1/10 rule. 10%.. so you’re telling OP to spend $7k on a car. It’s not easy, I pr...
by tryingtogetahead
Wed Sep 09, 2020 9:13 am
Forum: Personal Finance (Not Investing)
Topic: What % of income to spend on car?
Replies: 122
Views: 8525

Re: What % of income to spend on car?

Read this. It will answer all of your questions.

https://www.financialsamurai.com/the-11 ... st-follow/

IMO, the Accord is the best value car on the road. Just make sure it fits within the 1/10 rule.
by tryingtogetahead
Sun Sep 06, 2020 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Any gaps in our thinking?
Replies: 46
Views: 3533

Re: Any gaps in our thinking?

Sounds like a great idea and you’re certainly more than able to make this happen. Congrats on everything you have done and what you’re about to embark on!
by tryingtogetahead
Sat Sep 05, 2020 2:33 pm
Forum: Personal Investments
Topic: Prepay student loans OR megabackdoor Roth? (26 y/o in Biglaw; 190k salary; 180k debt)
Replies: 82
Views: 5107

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

I was in your almost exact situation 12-13 years ago. I worked in BigLaw and had over $200,000 of student loans and about $50-60,000 saved when I graduated law school. I immediately bought a small condo with my savings and then started aggressively paying off my student loans. I paid them all off in...
by tryingtogetahead
Fri Sep 04, 2020 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Should I do family loan?
Replies: 38
Views: 2949

Re: Should I do family loan?

Very dangerous proposition. Do nothing financially other than giving advice and referring them to this site. You need to train your kids to survive in the world and not defang them. You need to give them the tools to do for themselves. Various studies have shown that people do more when they do for ...
by tryingtogetahead
Thu Sep 03, 2020 8:35 am
Forum: Personal Finance (Not Investing)
Topic: How to get over finance envy
Replies: 377
Views: 51459

Re: How to get over finance envy

I know a lady, late 50's, who does not contribute a penny to her 401K because she claims she does not have enough money. Which is definitely not true. In talking to her, I suggested that at the least, maybe, contribute to company matching. Last year, she sold her paid-off home (paid off because of ...
by tryingtogetahead
Thu Sep 03, 2020 8:26 am
Forum: Personal Finance (Not Investing)
Topic: How to get over finance envy
Replies: 377
Views: 51459

Re: How to get over finance envy

Lots of great advice in this thread, especially from Taylor (as always). As a child of someone who lived above their means, I've seen the damage it can do. Struggling with finances and worrying about debt makes things tough, especially when income goes down or unexpected expenses pop up. I am fortu...
by tryingtogetahead
Tue Sep 01, 2020 10:20 pm
Forum: Personal Investments
Topic: China-Focused Mutual Funds and ETFs
Replies: 2
Views: 294

China-Focused Mutual Funds and ETFs

Can anyone recommend the best mutual fund or ETF options for investing in China? I would prefer a mutual fund so I can add it to my monthly auto-investments, but I can make an ETF work if it's a better option. China is a fast growing economy with a huge population and will likely become the largest ...
by tryingtogetahead
Sun Aug 30, 2020 1:27 am
Forum: Personal Finance (Not Investing)
Topic: At what point can you afford a 2nd home?
Replies: 46
Views: 3937

Re: At what point can you afford a 2nd home?

Many financial advisors suggest you spend no more than 28% or so of your HHI on a home and that your home's purchase price represent no more than 2.5x your HHI. I believe if both of your homes in the aggregate fall within these boundaries, you can pull the trigger. Treat all housing together in the ...
by tryingtogetahead
Sun Aug 30, 2020 1:21 am
Forum: Investing - Theory, News & General
Topic: Home Equity & Asset Allocation
Replies: 15
Views: 1201

Re: Home Equity & Asset Allocation

OP, I was in a very similar situation to you recently with a fully paid-off home that represented a large percentage of my NW (23%), except that I also had some rental properties with significant equity in each of them. I think your age and NW are also big factors. How old are you and what is your N...
by tryingtogetahead
Fri Aug 28, 2020 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Finding balance in life: When do you let up off the gas?
Replies: 105
Views: 9741

Re: Finding balance in life: When do you let up off the gas?

FWIW, I respect your scarcity mindset, and can appreciate your history of high debt. It’s not unnatural to have the reaction you’re having when experiencing such a dramatic change in socioeconomic status. In fact there’s a great deal of research in how people coming up from low socioeconomic status...
by tryingtogetahead
Fri Aug 28, 2020 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Finding balance in life: When do you let up off the gas?
Replies: 105
Views: 9741

Re: Finding balance in life: When do you let up off the gas?

I don't see what problem is being "solved" here. Someone makes a good income, lives comfortably and saves the rest. Sounds like prudent financial management. Doing this, the OP continues to accumulate assets. Again, good. OP does not spend as much as they could. Good for them. OP likes to drive new...
by tryingtogetahead
Fri Aug 28, 2020 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Finding balance in life: When do you let up off the gas?
Replies: 105
Views: 9741

Re: Finding balance in life: When do you let up off the gas?

Saving 87%... :shock: Man my life balance must be way out of balance with saving at only 25-30%... I’ve tried to follow the 50/30/20 rule for monthly budgeting and have overshot saving for retirement some when bonuses come in. In the next 2-3 years I plan on getting to a 40/30/30 setup. What’s your...
by tryingtogetahead
Fri Aug 28, 2020 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Finding balance in life: When do you let up off the gas?
Replies: 105
Views: 9741

Re: Finding balance in life: When do you let up off the gas?

I don't see what problem is being "solved" here. Someone makes a good income, lives comfortably and saves the rest. Sounds like prudent financial management. Doing this, the OP continues to accumulate assets. Again, good. OP does not spend as much as they could. Good for them. OP likes to drive new...
by tryingtogetahead
Thu Aug 27, 2020 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Finding balance in life: When do you let up off the gas?
Replies: 105
Views: 9741

Re: Finding balance in life: When do you let up off the gas?

I'm confused - your ages and NW have both declined since this thread: https://www.bogleheads.org/forum/viewtopic.php?f=2&t=316064&p=5278151#p5278151 Good catch! Looks like this account might be a financial advisor or some media writer looking to pick the Bogleheads’ brains for content for free Sorr...
by tryingtogetahead
Tue Aug 25, 2020 10:30 pm
Forum: Personal Finance (Not Investing)
Topic: Finding balance in life: When do you let up off the gas?
Replies: 105
Views: 9741

Re: Finding balance in life: When do you let up off the gas?

Thank you everyone for your thoughts. Some people have said I didn’t give enough facts to give the right advice. I took a closer look at my finances after reading these posts. I have a few refis pending at the moment that will close shortly. My NW will be broken down as follows after the refis clos...
by tryingtogetahead
Tue Aug 25, 2020 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: Finding balance in life: When do you let up off the gas?
Replies: 105
Views: 9741

Re: Finding balance in life: When do you let up off the gas?

Thank you everyone for your thoughts. Some people have said I didn’t give enough facts to give the right advice. I took a closer look at my finances after reading these posts. I have a few refis pending at the moment that will close shortly. My NW will be broken down as follows after the refis close...
by tryingtogetahead
Tue Aug 25, 2020 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: Finding balance in life: When do you let up off the gas?
Replies: 105
Views: 9741

Re: Finding balance in life: When do you let up off the gas?

I think you are saving way too much. I have similar tendencies, and whenever I start to get tight just for the sake of being tight, my husband points out that spending is what money is for. When we were young and childless, we "super-saved." Now, we have dialed it back some. We still max out our re...
by tryingtogetahead
Tue Aug 25, 2020 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Finding balance in life: When do you let up off the gas?
Replies: 105
Views: 9741

Re: Finding balance in life: When do you let up off the gas?

What I don’t understand from some of the recent BH posts is many BHs have luxury cars like Porsches and MBs that lease for $1,000 or $1,500 per month. We own an expensive Porsche Cayenne Turbo, a Tesla Model X, and (our son’s) Volvo XC60. I can’t tell you how much they lease for . We pay cash for c...
by tryingtogetahead
Tue Aug 25, 2020 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Are emergency funds for suckers?
Replies: 202
Views: 15884

Re: Are emergency funds for suckers?

Depends on your situation. If you have your financial life together, you don’t need one:

https://www.google.com/amp/s/earlyretir ... -fund/amp/
by tryingtogetahead
Tue Aug 25, 2020 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Finding balance in life: When do you let up off the gas?
Replies: 105
Views: 9741

Re: Finding balance in life: When do you let up off the gas?

What I don’t understand from some of the recent BH posts is many BHs have luxury cars like Porsches and MBs that lease for $1,000 or $1,500 per month. We own an expensive Porsche Cayenne Turbo, a Tesla Model X, and (our son’s) Volvo XC60. I can’t tell you how much they lease for . We pay cash for c...
by tryingtogetahead
Tue Aug 25, 2020 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Finding balance in life: When do you let up off the gas?
Replies: 105
Views: 9741

Re: Finding balance in life: When do you let up off the gas?

This is ultimately a question of happiness. Will spending more make you happy, or will you be worried that you're not saving enough? Only you can make that call. From my perspective, you can absolutely spend more. I'm not sure if your 550k/yr is pre- or post-tax, but if you're saving 87% of take ho...
by tryingtogetahead
Tue Aug 25, 2020 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Finding balance in life: When do you let up off the gas?
Replies: 105
Views: 9741

Finding balance in life: When do you let up off the gas?

DW and I are in back half of 30s, MCOL area, household income around 550k/yr and NW approaching 3.3mm. We drive 2 economy Japanese leased cars for $200/month each and live in a 750k suburban house (MCOL bc this buys 3,000 sq ft, great schools and town, and large lot). We save approx 87% of our take ...
by tryingtogetahead
Tue Aug 25, 2020 10:38 am
Forum: Personal Consumer Issues
Topic: Low Earner... Creative ways to own a Tesla Model 3?
Replies: 101
Views: 7819

Re: Low Earner... Creative ways to own a Tesla Model 3?

Don’t do it. https://www.financialsamurai.com/the-110th-rule-for-car-buying-everyone-must-follow/ I haven't seen this article before, but I recently bought a Honda Fit on our $150-200k gross income (actually one of the car examples he gives for that income range). It's a 2015 though and I got it fo...
by tryingtogetahead
Tue Aug 25, 2020 10:12 am
Forum: Personal Consumer Issues
Topic: Any car enthusiasts? (or soon to be)
Replies: 112
Views: 6938

Re: Any car enthusiasts? (or soon to be)

DW and I are mid/late 30s, MCOL area, household income mid 500s/yr and NW approaching 3.3mm. We drive 2 economy Japanese leased cars for $200/month each. I am blown away that a forum like BH that is focused on wealth creation and frugality would have a thread like this so focused on buying upmarket ...
by tryingtogetahead
Mon Aug 24, 2020 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Tax implications of opening a joint account as an unmarried couple
Replies: 12
Views: 913

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

Do not do this. Why even entertain it? Wait for after the wedding.
by tryingtogetahead
Mon Aug 24, 2020 6:30 am
Forum: Personal Finance (Not Investing)
Topic: Quit corporate job @ age 34 with $1.3M?
Replies: 225
Views: 22876

Re: Quit corporate job @ age 34 with $1.3M?

$1.3mm is not enough money and you’ll be bored to death at 34. Keep going.
by tryingtogetahead
Mon Aug 24, 2020 6:29 am
Forum: Personal Consumer Issues
Topic: Which 3 row luxury SUV?
Replies: 70
Views: 5206

Re: Which 3 row luxury SUV?

It’s not on your list, but if I were to spend the money, I’d get the Volvo XC90. It’s available in trim levels at your price range and even below. I am surprised, however, that so many BHs own Audis, Mercedes, Escalades, etc. These are very expensive cars. How can you be BHs? Why don’t you all have ...
by tryingtogetahead
Fri Aug 21, 2020 11:39 am
Forum: Personal Consumer Issues
Topic: Tires recommendations?
Replies: 61
Views: 3641

Re: Tires recommendations?

Go to Costco when they do their big sale and buy their cheapest all season tires. They are great. Good value.
by tryingtogetahead
Fri Aug 21, 2020 11:37 am
Forum: Personal Investments
Topic: How Much to Save
Replies: 27
Views: 3038

Re: How Much to Save

Hello, So I'm very new to investing and just finished the Bogleheads Guide to Investing book. My question to the community would be: what would you think is a good amount to start investing in? Of course, I'm going to diversify my investments based on the methods in the book. But I wanted to get yo...
by tryingtogetahead
Thu Aug 20, 2020 11:49 pm
Forum: Personal Investments
Topic: How Much to Save
Replies: 27
Views: 3038

Re: How Much to Save

Hello, So I'm very new to investing and just finished the Bogleheads Guide to Investing book. My question to the community would be: what would you think is a good amount to start investing in? Of course, I'm going to diversify my investments based on the methods in the book. But I wanted to get yo...
by tryingtogetahead
Thu Aug 20, 2020 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Percent of Net Worth in Home too Much?
Replies: 27
Views: 2327

Re: Percent of Net Worth in Home too Much?

Isn't someone's home generally their largest asset and many people sell their homes in retirement and downsize to use the appreciation to fund part of their retirement? If so, isn't home value very important to most people? Also, isn't this an important measure b/c if you are buying a house that wo...
by tryingtogetahead
Thu Aug 20, 2020 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: how often do you check your net worth?
Replies: 153
Views: 9831

Re: how often do you check your net worth?

I use Mint.com to check other accounts like CCs, so I end up seeing my NW every day. I have big fluctuations due to a large % in stocks. I think this is unhealthy to look so often so I may delete accounts other than CCs just so I am not influenced by the number. It can become an obsession.
by tryingtogetahead
Thu Aug 20, 2020 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Percent of Net Worth in Home too Much?
Replies: 27
Views: 2327

Re: Percent of Net Worth in Home too Much?

Isn't someone's home generally their largest asset and many people sell their homes in retirement and downsize to use the appreciation to fund part of their retirement? If so, isn't home value very important to most people? Also, isn't this an important measure b/c if you are buying a house that wou...
by tryingtogetahead
Thu Aug 20, 2020 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Percent of Net Worth in Home too Much?
Replies: 27
Views: 2327

Percent of Net Worth in Home too Much?

I know many BHs do not even count their home in their NW, but if I do, my home equity represents almost 20% of my total NW (i.e., $625,000 home equity on a $3.25mm NW). The home has done nothing for me appreciation wise over the 7 years I have owned it while my stock portfolio has ballooned. My tota...
by tryingtogetahead
Thu Aug 20, 2020 9:59 am
Forum: Personal Investments
Topic: How Much to Save
Replies: 27
Views: 3038

Re: How Much to Save

Hello, So I'm very new to investing and just finished the Bogleheads Guide to Investing book. My question to the community would be: what would you think is a good amount to start investing in? Of course, I'm going to diversify my investments based on the methods in the book. But I wanted to get yo...
by tryingtogetahead
Sat Aug 15, 2020 1:11 am
Forum: Personal Investments
Topic: How do you manage cash flow for investing?
Replies: 26
Views: 2040

Re: How do you manage cash flow for investing?

Thanks for all of the insight. I moved a few things around in the last few days, primarily due to mortgage refis on 2 rental properties at 2.5%. NW total today is about 3.25mm. Post-refis, we will be 69% stocks/30% RE/1% cash. 72% of stocks are SP500 index mutual fund (FXAIX) and the rest (28%) is ...
by tryingtogetahead
Sat Aug 15, 2020 1:08 am
Forum: Personal Investments
Topic: How do you manage cash flow for investing?
Replies: 26
Views: 2040

Re: How do you manage cash flow for investing?

Thanks for all of the insight. I moved a few things around in the last few days, primarily due to mortgage refis on 2 rental properties at 2.5%. NW total today is about 3.25mm. Post-refis, we will be 69% stocks/30% RE/1% cash. 72% of stocks are SP500 index mutual fund (FXAIX) and the rest (28%) is ...
by tryingtogetahead
Fri Aug 14, 2020 1:47 pm
Forum: Personal Investments
Topic: How do you manage cash flow for investing?
Replies: 26
Views: 2040

Re: How do you manage cash flow for investing?

Thanks for all of the insight. I moved a few things around in the last few days, primarily due to mortgage refis on 2 rental properties at 2.5%. NW total today is about 3.25mm. Post-refis, we will be 69% stocks/30% RE/1% cash. 72% of stocks are SP500 index mutual fund (FXAIX) and the rest (28%) is i...
by tryingtogetahead
Fri Aug 14, 2020 9:06 am
Forum: Personal Investments
Topic: How do you manage cash flow for investing?
Replies: 26
Views: 2040

Re: How do you manage cash flow for investing?

So, over time you end up with 90% or more of your NW in mutual funds? People are comfortable with that and the inherent fluctuations that result from it? I have the Mint.com app and look at it every day and see the swings. Maybe this is the problem? Do the BH rules for being 100% index funds change ...
by tryingtogetahead
Thu Aug 13, 2020 3:03 pm
Forum: Personal Investments
Topic: How do you manage cash flow for investing?
Replies: 26
Views: 2040

How do you manage cash flow for investing?

DW and I both max out our 401ks and Backdoor Roth IRAs every year. On top of that, after we pay all of our bills each month, we are left with about $25,000/month. Right now, we just have $25,000 automatically transfer from our joint checking account to our joint brokerage account and it's automatica...
by tryingtogetahead
Wed Aug 12, 2020 10:22 pm
Forum: Personal Finance (Not Investing)
Topic: Struggling with Spending
Replies: 79
Views: 8272

Re: Struggling with Spending

I have the same problem so I can’t help anyone else. :greedy
by tryingtogetahead
Wed Aug 12, 2020 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Auto Decision
Replies: 60
Views: 4134

Re: Auto Decision

Does anyone have any experience with Range Rovers? I like the Velar. The Mercedes GLE, BMW X5, Tesla Model Y, Audi Q7 and Volvo XC90 are all nice comps also. Does anyone have experience with one being better and cheaper to own?
by tryingtogetahead
Tue Aug 11, 2020 1:04 am
Forum: Personal Finance (Not Investing)
Topic: Rates so low. Should we take out a mortgage on home?
Replies: 33
Views: 3920

Re: Rates so low. Should we take out a mortgage on home?

Are those rentals helping or hurting? It’s unlikely that they’re helping, but the post doesn’t make it clear $3.2m NW would be fine if it was all in low fee US index. But those rentals could be problematic $1.3m in rentals could be a 12 unit MF generating $230k a year or it could be dead money that...
by tryingtogetahead
Tue Aug 11, 2020 12:31 am
Forum: Personal Finance (Not Investing)
Topic: Rates so low. Should we take out a mortgage on home?
Replies: 33
Views: 3920

Re: Rates so low. Should we take out a mortgage on home?

Are those rentals helping or hurting? It’s unlikely that they’re helping, but the post doesn’t make it clear $3.2m NW would be fine if it was all in low fee US index. But those rentals could be problematic $1.3m in rentals could be a 12 unit MF generating $230k a year or it could be dead money that...