Search found 676 matches

by RocketShipTech
Sat Aug 22, 2020 5:03 pm
Forum: Personal Consumer Issues
Topic: charging an EV
Replies: 250
Views: 14284

Re: charging an EV

Charge at home overnight

Rent a gas car for long distance trips. $30/day
by RocketShipTech
Sat Aug 22, 2020 4:22 pm
Forum: Personal Consumer Issues
Topic: buying a car every year for almost no money
Replies: 61
Views: 10190

Re: buying a car every year for almost no money

I went to our Honda dealer, cash in pocket, to test drive a Clarity and they gave me nothing but a cold shoulder. Ended up with a Prius Prime which was hard to find, too. Overall, I find switching cars yearly to take advantage of multiple government rebates to be (1) a lot of work for little person...
by RocketShipTech
Sat Aug 22, 2020 2:00 pm
Forum: Personal Consumer Issues
Topic: buying a car every year for almost no money
Replies: 61
Views: 10190

Re: buying a car every year for almost no money

Agree this is probably not repeatable for ever. Might be able to do this once more next year, before honda runs out of its tax credit quota. According to this EV sales tracker Honda has only sold 30k tax credit qualifying EVs as of mid 2019, and is only selling 1k per month. At this rate it will ta...
by RocketShipTech
Sat Aug 22, 2020 11:26 am
Forum: Personal Consumer Issues
Topic: buying a car every year for almost no money
Replies: 61
Views: 10190

Re: buying a car every year for almost no money

Well I decided to pull the trigger. MSRP for base model Clarity: $34,355 Taxes & DMV fees: $3,179 BS dealer charges and accessories: $433 Negotiated discount: -$6,155 Total OTD cost: $31,912 This is the absolute lowest price at the moment in the Bay Area. I reached out to a dozen dealers. 3% cash ba...
by RocketShipTech
Sat Aug 22, 2020 11:09 am
Forum: Personal Consumer Issues
Topic: buying a car every year for almost no money
Replies: 61
Views: 10190

Re: buying a car every year for almost no money

Dudley wrote: Sat Aug 22, 2020 6:53 amMorals.
Can you explain what is immoral about this?
by RocketShipTech
Fri Aug 21, 2020 11:04 am
Forum: Investing - Theory, News & General
Topic: If International, what specifically?
Replies: 88
Views: 7012

Re: If International, what specifically?

I’ve been putting 125% of my paychecks into IMTM
by RocketShipTech
Thu Aug 20, 2020 8:20 pm
Forum: Personal Investments
Topic: Using Margin as Emergency Fund?
Replies: 23
Views: 1065

Re: Using Margin as Emergency Fund?

If you’re going to do this, do it with M1 Finance or Interactive Brokers, who offer 2% and 1% margin loans, respectively.
by RocketShipTech
Thu Aug 20, 2020 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Health Care Costs (California Family) - Not a political discussion
Replies: 19
Views: 975

Re: Health Care Costs (California Family) - Not a political discussion

Well that’s your problem right there. You’re paying for two houses. Does your father not have any resources?
by RocketShipTech
Thu Aug 20, 2020 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford a new car?
Replies: 79
Views: 5270

Re: Can I afford a new car?

livesoft wrote: Thu Aug 20, 2020 4:50 pm Very interesting. My last few cars were a new Subaru Outback, and two Lexus RX's. None of them came close to $40K. Something is wrong if a RAV4 costs $40K. Is a big chunk of that state sales tax?
https://insideevs.com/news/433153/2021- ... e-gouging/
by RocketShipTech
Thu Aug 20, 2020 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford a new car?
Replies: 79
Views: 5270

Re: Can I afford a new car?

https://caredge.com/toyota/rav4/depreciation Buying a new car never makes sense financially. Let someone take the initial depreciation hit. If you "want" a new car, you can afford it. However, fully fund your retirement options first. Blanket statements are always false. A smart car buyer can often...
by RocketShipTech
Thu Aug 20, 2020 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: 30YO Biglaw Associate- Advice Welcome!!
Replies: 49
Views: 5647

Re: 30YO Biglaw Associate- Advice Welcome!!

Not every in-house legal role is a cost center.

At my tech company, commercial counsel are essentially a part of the sales team, negotiating MSAs with new enterprise customers. They are as close to revenue as anyone.
by RocketShipTech
Thu Aug 20, 2020 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford a new car?
Replies: 79
Views: 5270

Re: Can I afford a new car?

You can, but might I advise you buy the Rav4 Prime instead. Unlike the hybrid it's much faster, it has 42 miles of electric-only range, and since there is a massive federal tax credit and possible state credits it will cost you similar to the regular hybrid anyway, and then you end up with the pree...
by RocketShipTech
Thu Aug 20, 2020 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Percent of Net Worth in Home too Much?
Replies: 27
Views: 2193

Re: Percent of Net Worth in Home too Much?

If this actually concerns you there are a few things you can do about it: 1. Take out a HELOC, invest it in the stock market 2. Refinance into an interest-only mortgage, cash-out if possible 3. Increase your stock allocation (by selling bonds or leveraging up) so that your portfolio grows faster tha...
by RocketShipTech
Wed Aug 19, 2020 11:29 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Margin Loans
Replies: 16
Views: 658

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I can bring 200K in equity to IBKR, then withdraw 100K in cash and keep it a Bank of America for 1 year. The interest on the 100K margin loan for that year is tax-deductible AFAIK. It looks to me like you're saying that's not the case? Bank interest does count as taxable income, so you can deduct t...
by RocketShipTech
Wed Aug 19, 2020 10:45 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Margin Loans
Replies: 16
Views: 658

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

3. The margin loan is not tax deductible unless you use it to buy taxable securities. Now there is a way around this, you could use the margin loan to buy securities and then buy the house with another $800k you had laying around that you would have put into securities. In this particular case mone...
by RocketShipTech
Wed Aug 19, 2020 10:28 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2405
Views: 399817

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

3. The margin loan is not tax deductible unless you use it to buy taxable securities. Now there is a way around this, you could use the margin loan to buy securities and then buy the house with another $800k you had laying around that you would have put into securities. In this particular case mone...
by RocketShipTech
Wed Aug 19, 2020 9:08 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2405
Views: 399817

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Sure. There isn't much to know, however. You need a margin account with marginable securities. Then you simply make a withdrawal that exceeds the amount of cash you have. You can take it as a wire transfer, ACH, check, or you can spend money on the debit card they give you or use bill pay. What is ...
by RocketShipTech
Wed Aug 19, 2020 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: 30YO Biglaw Associate- Advice Welcome!!
Replies: 49
Views: 5647

Re: 30YO Biglaw Associate- Advice Welcome!!

OP the way to get upside in-house is to join a company with upside (and pays in equity). If you’re interested in a Commercial Counsel role with a fast growing tech company, feel free to DM me.
by RocketShipTech
Wed Aug 19, 2020 8:43 pm
Forum: Personal Investments
Topic: Over-allocated (70%) to well performing company stock
Replies: 33
Views: 1764

Re: Over-allocated (70%) to well performing company stock

There's a 3.8% NIIT tax if your total income is over $250K per year. So if you make $200K salary and realize $200K of LTCG you'll pay an extra 3.8% NIIT tax on $150K of LTCG. I would try to stay below that threshold. If possible, harvest some capital losses elsewhere and then realize the gains in D...
by RocketShipTech
Wed Aug 19, 2020 8:39 pm
Forum: Personal Finance (Not Investing)
Topic: BoA Premium Rewards status
Replies: 61
Views: 3397

Re: BoA Premium Rewards status

This is correct. We had $100K+ in a BoA Money Market account earning near 0 interest and moved it to a HYSA. Our Platinum Honors status lasted for 12 months from the date the balance dropped, during which time they send us frequent emails reminding us to bring the balance up or we would lose our st...
by RocketShipTech
Wed Aug 19, 2020 4:54 pm
Forum: Personal Investments
Topic: Over-allocated (70%) to well performing company stock
Replies: 33
Views: 1764

Re: Over-allocated (70%) to well performing company stock

Unless you have inside information that the company will do even better than the market expects, sell everything now.
by RocketShipTech
Wed Aug 19, 2020 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: 30YO Biglaw Associate- Advice Welcome!!
Replies: 49
Views: 5647

Re: 30YO Biglaw Associate- Advice Welcome!!

You are in a major market. If you do go in house you should not be settling for a 70% pay drop from Associate pay.
by RocketShipTech
Wed Aug 19, 2020 11:37 am
Forum: Personal Finance (Not Investing)
Topic: What if my renter DOESN’T call me at 3am about the toilet?
Replies: 37
Views: 5407

What if my renter DOESN’T call me at 3am about the toilet?

I own a condo which has been rented to the same tenant for five years now. The rent check comes in on the first, every month, like clockwork. Otherwise I don’t hear from her. Not even during the pandemic. Is there a regular “check-up” visit that I should be making to the unit, just to make sure ever...
by RocketShipTech
Wed Aug 19, 2020 11:27 am
Forum: Investing - Theory, News & General
Topic: How does one respond to this ethical/emotional critique of indexing?
Replies: 57
Views: 4031

Re: How does one respond to this ethical/emotional critique of indexing?

So, the vast majority of people who have typical 401(k) plans are acting shamefully because they have no other option? Hmm... I guess the "correct" thing to do would be not to invest at all... Self-beneficial "advice" like this is shameful by definition -- and therefore easily ignored. Literally th...
by RocketShipTech
Wed Aug 19, 2020 11:26 am
Forum: Investing - Theory, News & General
Topic: How does one respond to this ethical/emotional critique of indexing?
Replies: 57
Views: 4031

Re: How does one respond to this ethical/emotional critique of indexing?

Perhaps a little bit of a tangent. But Vanguard has been criticized for taking large stakes in companies. In some instances even being the largest shareholder. The criticism here is that they do not fulfill their role during annual shareholders meetings. AKA not keeping the company accountable in a...
by RocketShipTech
Wed Aug 19, 2020 12:10 am
Forum: Personal Investments
Topic: Assets going from 600K->15M, should I change my asset allocation?
Replies: 175
Views: 17382

Re: Assets going from 600K->15M, should I change my asset allocation?

Howdy The new investment only variable annuities are interesting products. I went through this recently with my Fidelity adviser who was trying to sell me one. I couldn’t get the math to work. So far I have not seen a product where the underlying expenses was below 1%, when you total the fund expen...
by RocketShipTech
Tue Aug 18, 2020 8:19 pm
Forum: Investing - Theory, News & General
Topic: Investment strategies for high net worth individuals
Replies: 56
Views: 5073

Re: Investment strategies for high net worth individuals

I am about to dip my toes into venture capital.
by RocketShipTech
Tue Aug 18, 2020 8:07 pm
Forum: Personal Consumer Issues
Topic: Move to NE Ohio?
Replies: 71
Views: 4348

Re: Move to NE Ohio?

EverHopeful wrote: Tue Aug 18, 2020 8:03 pm no wonder it’s a Covid hotspot!
Well if that doesn’t clinch the deal...

:confused

Some friendly advice for the OP: don’t judge any Midwest locale by what it’s like in the middle of summer.
by RocketShipTech
Tue Aug 18, 2020 7:38 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2405
Views: 399817

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Could you elaborate on how one can deduct margin interest when you itemize deductions? Does it require also having a mortgage and doing some accounting wizardry? Schwab explains it well: https://www.schwab.com/resource-center/insights/content/investment-expenses-whats-tax-deductible For me the 1.1%...
by RocketShipTech
Tue Aug 18, 2020 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance products bought by Insurance sellers
Replies: 33
Views: 1614

Re: Insurance products bought by Insurance sellers

Index funds are extremely tax efficient, with no capital gain distributions per year, low dividends, and favorable capital gain tax rate. Combined with EE and Ibonds annual limits (tax deferred). I certainly wouldn't buy a horrible permanent life insurance product for some fantasy tax benefit. I do...
by RocketShipTech
Mon Aug 17, 2020 6:04 pm
Forum: Personal Consumer Issues
Topic: buying a car every year for almost no money
Replies: 61
Views: 10190

Re: buying a car every year for almost no money

Without any negotiation I am able to get an offer on a new Clarity for $32,300 OTD: https://i.ibb.co/s9KKp7b/A938-ED8-D-EC02-4-DAC-98-EA-294-F8159347-C.jpg Subtract $7500 federal tax credit and $800 PG&E rebate and the effective price is $24,000. I am pretty sure I’ll be able to get $24k for the car...
by RocketShipTech
Mon Aug 17, 2020 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance products bought by Insurance sellers
Replies: 33
Views: 1614

Re: Insurance products bought by Insurance sellers

Index funds are extremely tax efficient, with no capital gain distributions per year, low dividends, and favorable capital gain tax rate. Combined with EE and Ibonds annual limits (tax deferred). I certainly wouldn't buy a horrible permanent life insurance product for some fantasy tax benefit. I do...
by RocketShipTech
Mon Aug 17, 2020 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance products bought by Insurance sellers
Replies: 33
Views: 1614

Re: Insurance products bought by Insurance sellers

Stinky wrote: Mon Aug 17, 2020 2:15 pm
RocketShipTech wrote: Mon Aug 17, 2020 1:59 pm Please enlighten us on what other investment offers unlimited tax deferred space.
Multi year guaranteed annuities. Aka MYGAs.
Agreed! I am considering supplementing my EE bonds with MYGAs
by RocketShipTech
Mon Aug 17, 2020 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance products bought by Insurance sellers
Replies: 33
Views: 1614

Re: Insurance products bought by Insurance sellers

...do some of these products which many of us (understandably) malign now become attractive relative to other current fixed income options?... Probably not... Please enlighten us on what other investment offers unlimited tax deferred space. That's why I said "probably not." If you need unlimited ta...
by RocketShipTech
Mon Aug 17, 2020 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance products bought by Insurance sellers
Replies: 33
Views: 1614

Re: Insurance products bought by Insurance sellers

https://humbledollar.com/2020/08/my-retirement/ So I found the above interesting. If I get my insurance license and thereby enable myself to sell whole life/hybrid policies and annuities to myself and pocket the commissions, do some of these products which many of us (understandably) malign now bec...
by RocketShipTech
Mon Aug 17, 2020 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance products bought by Insurance sellers
Replies: 33
Views: 1614

Re: Insurance products bought by Insurance sellers

https://humbledollar.com/2020/08/my-retirement/ So I found the above interesting. If I get my insurance license and thereby enable myself to sell whole life/hybrid policies and annuities to myself and pocket the commissions, do some of these products which many of us (understandably) malign now bec...
by RocketShipTech
Mon Aug 17, 2020 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance products bought by Insurance sellers
Replies: 33
Views: 1614

Re: Insurance products bought by Insurance sellers

Very interesting!

Apparently in CA the only time investment required for a “Life-Only Agent” license allowing you to sell annuities and insurance [to yourself] are (1) 32 hours of coursework, and (2) a 90 minute exam.
by RocketShipTech
Mon Aug 17, 2020 10:43 am
Forum: Investing - Theory, News & General
Topic: Why not 100% PSLDX?
Replies: 551
Views: 55097

Re: Why not 100% PSLDX?

columbia wrote: Mon Aug 17, 2020 10:34 am That obviously hasn't worked out (aside from collecting high fees).
The lowest fee class of the fund has worked out just fine:

https://www.portfoliovisualizer.com/fun ... mark=VFINX
by RocketShipTech
Mon Aug 17, 2020 6:32 am
Forum: Personal Investments
Topic: Is this all there is?
Replies: 20
Views: 1946

Re: Is this all there is?

#8 with a large long mortgage is an underappreciated driver of wealth
by RocketShipTech
Mon Aug 17, 2020 6:31 am
Forum: Personal Investments
Topic: Is this all there is?
Replies: 20
Views: 1946

Re: Is this all there is?

manatee2005 wrote: Mon Aug 17, 2020 6:01 am
dziuniek wrote: Mon Aug 17, 2020 5:57 am Wait, what's up with the alcohol thing?

I am gonna have to turn my boglehead club card in.
I've been hearing more and more that alcohol is poison and its best to stay away.
Only for those who can’t handle it.

Kind of like the Excellent Adventure.
by RocketShipTech
Mon Aug 17, 2020 12:57 am
Forum: Personal Investments
Topic: Financial Planning Advice for Bay Area Mid to Late 30 Somethings
Replies: 7
Views: 953

Re: Financial Planning Advice for Bay Area Mid to Late 30 Somethings

OP I can’t tell from your post whether you actually want to retire early or work as long as possible.

If it’s the former I’d suggest you read my inaugural post as we are in virtually identical positions

viewtopic.php?f=1&t=317614&p=5312690#p5312690
by RocketShipTech
Sun Aug 16, 2020 9:37 pm
Forum: Personal Consumer Issues
Topic: Car shopping PHEV / ICE / or all electric?
Replies: 114
Views: 8284

Re: Car shopping PHEV / ICE / or all electric?

I'm glad the OP shared their journey. Unfortunately I missed this thread, but I'm surprised nobody suggested a Honda Clarity to her. It met most of her requirements on paper - 55-60 mile EV range, PHEV, has a pretty nice interior, and you can get a great price for it - about $30-31k OTD in SoCal on...
by RocketShipTech
Sun Aug 16, 2020 9:10 pm
Forum: Personal Investments
Topic: Index annuity
Replies: 60
Views: 2805

Re: Index annuity

So I bought one of these in 2008. Did not know much and was not reading this forum. It sounded good. 4% min return or what the market was with the funds they offered. Problem is the 4% guaranteed was only if I Annuitized. I did not understand that part. I was 48 and 58 when it ended and no penaliti...
by RocketShipTech
Sun Aug 16, 2020 8:40 pm
Forum: Personal Investments
Topic: Still using total bond market?
Replies: 169
Views: 21910

Re: Still using total bond market?

Welcome to the forum :) . Earlier this year I sold my Total Bond Market Fund (VBTLX) and put the money into the Intermediate Term Bond Fund (VBILX). For me, this is a long term holding. At this time in my life, I have no use for short term bonds. Our only bond fund is Vanguard Intermediate-term Bon...
by RocketShipTech
Sun Aug 16, 2020 12:47 pm
Forum: Personal Consumer Issues
Topic: new car purchase: any reason NOT to do 0% financing
Replies: 90
Views: 7131

Re: new car purchase: any reason NOT to do 0% financing

never mention how you are going to pay for a vehicle until you are sitting in the finance office with an agreed upon price for the cost of the car, tax,tile, and license fees all compiled and ready for signature. Yes that means OTD in the fiance office, not in the showroom! If they won't do that, w...