Search found 206 matches

by newyorker
Sun Nov 29, 2020 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: Emergency Fund for a business owner
Replies: 5
Views: 332

Re: Emergency Fund for a business owner

Its a dental office. And the loans were for buying the practice goodwill + real estate. Ah, OK. The real estate and the practice are held by the same entity? If I were you I'd (a) get a business line of credit set up to help smooth out cashflow when needed, (b) keep maybe $200K in liquid assets/cas...
by newyorker
Sun Nov 29, 2020 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Emergency Fund for a business owner
Replies: 5
Views: 332

Re: Emergency Fund for a business owner

Would like to know a bit more about the business -- very consistent and predictable cashflow? And I'm a bit confused why there's a huge loan when it appears to be a services business? (your cost-of-goods-sold is just salaries?) But based on what you've written here, sounds like you have plenty of c...
by newyorker
Sun Nov 29, 2020 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: Emergency Fund for a business owner
Replies: 5
Views: 332

Emergency Fund for a business owner

Need BH’s opinion on emergency fund for a business owner. I currently own a small business with monthly expense of 40k/month. 8k for my building mortgage + property tax + maintenance 8k for my business loan And the rest 24k for payroll and supplies and etc. (Total loan in 2.1M region) I have around ...
by newyorker
Sat Nov 28, 2020 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: My car insurance rate is $1000/month. HELP
Replies: 69
Views: 7296

Re: My car insurance rate is $1000/month. HELP

How is that humanly possible to go from $150 a month to a $1,000 a month with two major carriers like that? I never would have dreamed there could be that sort of spread. Funny story about Geico, I got an upcoming renewal and they seemed to really jack up my price. I went online and looked at other...
by newyorker
Sat Nov 28, 2020 12:35 pm
Forum: Personal Investments
Topic: Rental Property vs S&P index
Replies: 17
Views: 1931

Re: Rental Property vs S&P index

gch wrote: Sat Nov 28, 2020 12:33 pm You can’t really compare leveraging stocks vs leveraging a property.


Why is that? S&p gives out dividends too. No property tax and appreciates.
by newyorker
Sat Nov 28, 2020 12:23 pm
Forum: Personal Investments
Topic: Rental Property vs S&P index
Replies: 17
Views: 1931

Re: Rental Property vs S&P index

Would this work? Only problem is that VOO is too liquid (which is a good thing in normal circumstance but in the time of crash, one can freak out and sell at a loss unlike real estate which is illiquid). No such thing as “too liquid” IMHO. If you might freak out in a crash, then the problem isn’t t...
by newyorker
Sat Nov 28, 2020 12:21 pm
Forum: Personal Consumer Issues
Topic: Gift for departing physician
Replies: 47
Views: 3820

Re: Gift for departing physician

Give her an amazon gift card. Cash is king :greedy
by newyorker
Sat Nov 28, 2020 11:57 am
Forum: Personal Finance (Not Investing)
Topic: My car insurance rate is $1000/month. HELP
Replies: 69
Views: 7296

Re: My car insurance rate is $1000/month. HELP

That does seem out of line. What was your premium in your prior state? Are you sure that's a monthly rate, and not semi-annual? Even for my 16 year old duaghter, its "only" $1,500 per six months in a major metro area. Yeah it was. $5900 for 6 months. Now its $850 for 6 months. Thank god I...
by newyorker
Sat Nov 28, 2020 11:09 am
Forum: Personal Investments
Topic: Rental Property vs S&P index
Replies: 17
Views: 1931

Re: Rental Property vs S&P index

1. Leverage is not the only reason to invest in rental property. 2. With respect to the question of whether you should leverage the S&P 500 index, that topic has been beaten to death in other threads on this forum. I certainly wouldn't recommend leveraging the S&P 500 index on its own . Wha...
by newyorker
Sat Nov 28, 2020 10:48 am
Forum: Personal Investments
Topic: Rental Property vs S&P index
Replies: 17
Views: 1931

Rental Property vs S&P index

I am pretty sure this topic has been beaten to death. But I was thinking last night that the only advantage of real estate investing is that you can leverage significantly and make capital gain from appreciation of price. What if I do the same for S&P? Take a loan from bank. Lumpsum into VOO and...
by newyorker
Fri Nov 27, 2020 11:50 pm
Forum: Personal Finance (Not Investing)
Topic: My car insurance rate is $1000/month. HELP
Replies: 69
Views: 7296

Re: My car insurance rate is $1000/month. HELP

Grt2bOutdoors wrote: Fri Nov 27, 2020 11:34 pm
newyorker wrote: Fri Nov 27, 2020 9:49 pm Switched for $150/month
Which company did you wind up going with?


Progressive. You guys were right.
by newyorker
Fri Nov 27, 2020 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: My car insurance rate is $1000/month. HELP
Replies: 69
Views: 7296

My car insurance rate is $1000/month. HELP

I just moved to a state with little higher crime rate and my driving record is less than perfect (but nothing crazy) I got a quote of $1000/month from Geico. What can I do? Should I call other insurance companies? Or would it be an option to contact my accountant and see if I can sell my car to my L...
by newyorker
Sat Nov 14, 2020 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Where should a business owner get health insurance
Replies: 4
Views: 627

Where should a business owner get health insurance

I own a small business and dont provide healthcare to my employees. Where should I get a health insurance from? Healthy man in 30s. Is there any particar insurer people recommend? Just for myself. No family.
by newyorker
Wed Nov 11, 2020 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella Insurance for business. Needed?
Replies: 4
Views: 290

Umbrella Insurance for business. Needed?

Hi Guys,

I already have liability insurance and worker's comp insurance for my business.

Is adding an umbrella insurance for $400/year be a good idea? (1 mil coverage)

Also, there's something called cybersecurity insurance as well.

Lots of headaches :S
by newyorker
Tue Nov 10, 2020 3:08 pm
Forum: Personal Consumer Issues
Topic: Someone dinged my car. What to do now?
Replies: 21
Views: 1820

Re: Someone dinged my car. What to do now?

Did the responsible other party stay and provide their information or did they have to be "tracked down"? If they were cooperative and if your car is a used daily driver with average value, before you file a claim, you may want to have a highly rated paintless dent removal (PDR) company n...
by newyorker
Tue Nov 10, 2020 3:05 pm
Forum: Personal Consumer Issues
Topic: Someone dinged my car. What to do now?
Replies: 21
Views: 1820

Re: Someone dinged my car. What to do now?

While my dad was using my car (insured by me). He parked at a mall and someone dinged the car. We got the person. Person uses Geico. I use Geico (but I moved to new place 1 week ago and haven't changed my address yet). Do I let Geico know and does geico take care of it? Your address change issue do...
by newyorker
Tue Nov 10, 2020 2:19 pm
Forum: Personal Consumer Issues
Topic: Someone dinged my car. What to do now?
Replies: 21
Views: 1820

Re: Someone dinged my car. What to do now?

TheDDC wrote: Tue Nov 10, 2020 2:16 pm
newyorker wrote: Tue Nov 10, 2020 2:14 pm The other party being uncareful and scraping my door.. its a cavity into the bare metal
Is it smaller or greater than a golf ball?

-TheDDC
Smaller
by newyorker
Tue Nov 10, 2020 2:15 pm
Forum: Personal Consumer Issues
Topic: Someone dinged my car. What to do now?
Replies: 21
Views: 1820

Re: Someone dinged my car. What to do now?

I wonder my dad driving it (accident happened when car was parked) or me not changing address could cause geico to say something otherwise. (Although I just moved and forgot to do so)
by newyorker
Tue Nov 10, 2020 2:14 pm
Forum: Personal Consumer Issues
Topic: Someone dinged my car. What to do now?
Replies: 21
Views: 1820

Re: Someone dinged my car. What to do now?

TheDDC wrote: Tue Nov 10, 2020 2:14 pm Define "ding". How bad is it? Is it a dent (a cavity in the metal)? What caused the ding?

-TheDDC
The other party being uncareful and scraping my door.. its a cavity into the bare metal
by newyorker
Tue Nov 10, 2020 2:07 pm
Forum: Personal Consumer Issues
Topic: Someone dinged my car. What to do now?
Replies: 21
Views: 1820

Someone dinged my car. What to do now?

While my dad was using my car (insured by me). He parked at a mall and someone dinged the car. We got the person. Person uses Geico. I use Geico (but I moved to new place 1 week ago and haven't changed my address yet). Do I let Geico know and does geico take care of it?
by newyorker
Tue Nov 10, 2020 2:04 pm
Forum: Personal Consumer Issues
Topic: Cat surgery cost accumulating
Replies: 27
Views: 1699

Re: Cat surgery cost accumulating

Unpopular comment: Get a new one :twisted:
by newyorker
Mon Nov 09, 2020 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Is a $2M condo way too much, or easy for us?
Replies: 34
Views: 5312

Re: Is a $2M condo way too much, or easy for us?

Renting is definitely an option. Main reasons are the usual: moving sucks; want more control than rentals provide; don't want to invest in things like furniture that are perfect for a place we only stay in for a year or two. Plus, the whole "throwing away our money" thing, which I'm gener...
by newyorker
Mon Nov 09, 2020 11:30 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 10744
Views: 844651

Re: U.S. stocks continue to soar!

DCA ALL THE DAY :)

$2k a day :D
by newyorker
Mon Nov 09, 2020 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Is a $2M condo way too much, or easy for us?
Replies: 34
Views: 5312

Re: Is a $2M condo way too much, or easy for us?

I think you can easily afford it.

What neighborhood are you in? Thing about NYC condo is not the price, but the crazy maintenance and tax. Avoid buildings with unionized staff and etc.
by newyorker
Sun Nov 01, 2020 6:50 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 20768
Views: 2837185

Re: U.S. stocks in free fall

Future down again...
by newyorker
Sat Oct 31, 2020 8:06 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 20768
Views: 2837185

Re: U.S. stocks in free fall

Who is worried now? Im kinda stressed lol. Next week feels like another bloodbath.
by newyorker
Fri Oct 30, 2020 6:47 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 20768
Views: 2837185

Re: U.S. stocks in free fall

Stinky wrote: Fri Oct 30, 2020 6:35 am
stocknoob4111 wrote: Fri Oct 30, 2020 1:59 am yikes -2.1% down now
Futures are moving into the “pink” zone. Still down about 0.6%, but well higher than the overnight lows.


Went out for a drink. Woke up at 2am due to hangover and I saw -2% on S&P future... i almost threw up
by newyorker
Thu Oct 29, 2020 9:07 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 20768
Views: 2837185

Re: U.S. stocks in free fall

Another bloody day tomorrow looking at the future.


Brace yourself!
by newyorker
Thu Oct 29, 2020 2:23 pm
Forum: Personal Consumer Issues
Topic: What lifestyle creep made you happier?
Replies: 602
Views: 80631

Re: What lifestyle creep made you happier?

Business class when travelling. Very comfy.
by newyorker
Thu Oct 29, 2020 12:46 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 10744
Views: 844651

Re: U.S. stocks continue to soar!

More of a dead bull bounce?

New shutdown coming. I am scared (for my business :shock: )
by newyorker
Thu Oct 29, 2020 8:50 am
Forum: Personal Investments
Topic: Hit 2M, at 38, should I retire?
Replies: 106
Views: 15743

Re: Hit 2M, at 38, should I retire?

Im jealous! I think 2.5M for a single guy is safe retirement number. What country are you from?
by newyorker
Wed Oct 28, 2020 9:00 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 20768
Views: 2837185

Re: U.S. stocks in free fall

What is causing this???
by newyorker
Mon Oct 26, 2020 12:33 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 20768
Views: 2837185

Re: U.S. stocks in free fall

Hyperchicken wrote: Mon Oct 26, 2020 12:30 pm
newyorker wrote: Mon Oct 26, 2020 12:27 pm ... hopefully it doesn't drop further.
Famous last words.
Sure is. Reaching -3% soon. Well what can I do other than DCA... a dumb man like myself have no other choices.
by newyorker
Mon Oct 26, 2020 12:27 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 20768
Views: 2837185

Re: U.S. stocks in free fall

This sure is stressful. Well putting in another 2k today but hopefully it doesn't drop further.
by newyorker
Fri Oct 23, 2020 10:20 pm
Forum: Personal Finance (Not Investing)
Topic: Any way to store CAD in US bank?
Replies: 2
Views: 428

Any way to store CAD in US bank?

I have around 300k cash in CAD that is being a pain in the ass due to foreign account reporting or whatever by IRS.


Is there any way to save them in Canadian Dollar in a US bank account?


Thank you!
by newyorker
Sat Oct 17, 2020 11:30 am
Forum: Personal Consumer Issues
Topic: iPhone SE 2020 or iPhone 12 Mini?
Replies: 138
Views: 10177

Re: iPhone SE 2020 or iPhone 12 Mini?

No contest 2020 SE.

I just can't part with touch ID.
by newyorker
Tue Oct 13, 2020 8:14 pm
Forum: Personal Investments
Topic: New business owner - need help with experience Bogleheads!
Replies: 36
Views: 2040

Re: New business owner - need help with experience Bogleheads!

OP, I owned & operated a small manufacturing business in Ohio for 40 years. We used Quickbooks/Quickbooks Pro for the last 28 years, and found that to be very powerful, customizable & easy to use. Also, you will find that many CPA’s & PA’s are well versed in that software. We also used ...
by newyorker
Tue Oct 13, 2020 8:12 pm
Forum: Personal Investments
Topic: New business owner - need help with experience Bogleheads!
Replies: 36
Views: 2040

Re: New business owner - need help with experience Bogleheads!

First things first! Instead of focusing on peripheral aspects of your your business, spend your time/energy on the business itself. Most importantly, this means spending time on improving your skills as a team leader and a small business manager. How well-developed are your soft skills. Believe me,...
by newyorker
Tue Oct 13, 2020 8:09 pm
Forum: Personal Investments
Topic: New business owner - need help with experience Bogleheads!
Replies: 36
Views: 2040

Re: New business owner - need help with experience Bogleheads!

I would use a separate accountant just to make sure of objectivity. Probably not much to worry about but just to be safe. Also, as a small business owner you should have a good understanding of the finances and monitor them closely. You may find that you can do the bookkeeping without the accountan...
by newyorker
Tue Oct 13, 2020 8:08 pm
Forum: Personal Investments
Topic: New business owner - need help with experience Bogleheads!
Replies: 36
Views: 2040

Re: New business owner - need help with experience Bogleheads!

Congrats on becoming a new business owner! There's a few things that I would recommend having been in business for myself for almost 15 years: 1) As long as you're comfortable with the existing accountant I would try them out for the first year. After that you can assess if they're a good fit for y...
by newyorker
Tue Oct 13, 2020 12:32 pm
Forum: Personal Investments
Topic: New business owner - need help with experience Bogleheads!
Replies: 36
Views: 2040

Re: New business owner - need help with experience Bogleheads!

I agree with #5 but how do you do it? Seems like sep ira requires employer contribution for employees That's why I recommended don't do any retirement accounts that involve employees. More to do and more potential headaches down the road. What type of retirement account do you recommend then? Some ...
by newyorker
Tue Oct 13, 2020 10:08 am
Forum: Personal Investments
Topic: New business owner - need help with experience Bogleheads!
Replies: 36
Views: 2040

Re: New business owner - need help with experience Bogleheads!

Hi guys, I am a new business owner (or soon to be). I bought a small dental office with 7 employees currently enrolled and it is already giving me a headache how I will be handling this. First of all, for an accountant. Would it be the best to use the previous owner's accountant just for a smooth t...
by newyorker
Mon Oct 12, 2020 7:50 pm
Forum: Personal Investments
Topic: New business owner - need help with experience Bogleheads!
Replies: 36
Views: 2040

Re: New business owner - need help with experience Bogleheads!

Congratulations! I've owned or operated a handful of businesses. For payroll, I've used a service called Gusto for 5-6 businesses. It's very easy, cost effective, and you can do it quickly yourself. Gusto, and services like it, handle your tax filings and nearly everything else you need. You can do...
by newyorker
Mon Oct 12, 2020 6:39 pm
Forum: Personal Investments
Topic: New business owner - need help with experience Bogleheads!
Replies: 36
Views: 2040

New business owner - need help with experience Bogleheads!

Hi guys, I am a new business owner (or soon to be). I bought a small dental office with 7 employees currently enrolled and it is already giving me a headache how I will be handling this. First of all, for an accountant. Would it be the best to use the previous owner's accountant just for a smooth tr...
by newyorker
Tue Oct 06, 2020 8:31 pm
Forum: Personal Investments
Topic: About right time to start investing in VT???
Replies: 17
Views: 2001

Re: About right time to start investing in VT???

livesoft wrote: Tue Oct 06, 2020 8:24 pm
newyorker wrote: Tue Oct 06, 2020 8:23 pmSorry! Dont wanna beat the horse to death obviously. Will read other threads!
No need to read the other threads as this thread already has all the useful information in it. :twisted:


Lol!!!


Ugh why is expense ratio so high in these international ones. I love cushy 0.03% er
by newyorker
Tue Oct 06, 2020 8:23 pm
Forum: Personal Investments
Topic: About right time to start investing in VT???
Replies: 17
Views: 2001

Re: About right time to start investing in VT???

absolute zero wrote: Tue Oct 06, 2020 8:13 pm That horse gets beat to death on this forum daily. Check out the thousands of existing threads.

For some reason I hate international/US threads, but I can't help but click them. :annoyed


Sorry! Dont wanna beat the horse to death obviously. Will read other threads!
by newyorker
Tue Oct 06, 2020 8:22 pm
Forum: Personal Investments
Topic: About right time to start investing in VT???
Replies: 17
Views: 2001

Re: About right time to start investing in VT???

000 wrote: Tue Oct 06, 2020 8:14 pm No foreign tax credit from VT. In taxable consider VTI and VXUS (I actually use VEA).

good luck


Thanks! Its taxable. Will look into that.
by newyorker
Tue Oct 06, 2020 8:10 pm
Forum: Personal Investments
Topic: About right time to start investing in VT???
Replies: 17
Views: 2001

About right time to start investing in VT???

Hi guys,

I have around 200k in VOO/VFIAX but understand that I may need to diversify a little more. Would it be a good time to start another 200k worth of DCA into VT?

Maybe time has come (yes nobody knows nothing) that international may catch up with US market.

What do you guys think?
by newyorker
Fri Sep 25, 2020 11:49 pm
Forum: Personal Finance (Not Investing)
Topic: At what networth is okay to splurge on a 200k car ? (Tesla roadster)
Replies: 159
Views: 10783

Re: At what networth is okay to splurge on a 200k car ? (Tesla roadster)

Driving sports car now vs when you are wearing denture sure feels different. Buy now. Life is too short and you aint taking leftover money with you when you die.