Are people using “after-tax” savings, tax-deferred or both for this calculation?
25x annual expenses would require more $ if the majority of my savings were locked in a tax-deferred 401K versus a Roth for example…
Search found 156 matches
- Mon Jul 26, 2021 9:11 pm
- Forum: Personal Finance (Not Investing)
- Topic: Really how many times your annual spending?
- Replies: 110
- Views: 15235
- Fri Nov 27, 2020 10:14 pm
- Forum: Personal Finance (Not Investing)
- Topic: Refinance Mega Thread
- Replies: 12862
- Views: 1265257
Re: Refinance Mega Thread
Seeing all the great rates in this thread are making me jealous
Five years in, I just refinanced existing mortgage ($1.2M+) from a 3.625% 30-yr fixed to a 2.625% 15-yr fixed...
Five years in, I just refinanced existing mortgage ($1.2M+) from a 3.625% 30-yr fixed to a 2.625% 15-yr fixed...
- Sun May 17, 2020 10:38 am
- Forum: Personal Consumer Issues
- Topic: Dual citizen, USA passport expiring, how to travel internationally
- Replies: 72
- Views: 5951
Re: Dual citizen, USA passport expiring, how to travel internationally
Leaving the US is not an issue. Coming back will be painful without a valid passport. He can try getting an emergency passport via a US consulate while abroad but having gone through that myself, it is very stressful and there are no guarantees he will be able to get through. Hours are short, lines are very long, and it is very hard to find someone to speak to in general.
I would try getting an emergency one while in the US if possible. August is still 2-3 months away so there is a chance. Otherwise, I wouldn't risk it.
I would try getting an emergency one while in the US if possible. August is still 2-3 months away so there is a chance. Otherwise, I wouldn't risk it.
- Sun May 10, 2020 10:36 pm
- Forum: Investing - Theory, News & General
- Topic: Strategy for paying down mortgage
- Replies: 22
- Views: 2238
Re: Strategy for paying down mortgage
Maybe I’m misunderstanding the advantage of paying down a mortgage early. Whether I keep paying off principal over 10 years or I accumulate the money in a separate account and pay off the mortgage in a lump sum, shouldn’t the interest paid for the duration of the loan the same?
Isn’t it therefore a better idea to put those extra payments in a separate account so it can accumulate some modest interest as I reach my goal of paying off the house in 10 years’ time? Once that amount in the account reaches the loan balance, I would pay it off in full.
I understand I can refinance but the jumbo rates were not that good last time I checked. Also, stuff happens and I may prefer to have some flexibility in my plan.
Isn’t it therefore a better idea to put those extra payments in a separate account so it can accumulate some modest interest as I reach my goal of paying off the house in 10 years’ time? Once that amount in the account reaches the loan balance, I would pay it off in full.
I understand I can refinance but the jumbo rates were not that good last time I checked. Also, stuff happens and I may prefer to have some flexibility in my plan.
- Sun May 10, 2020 4:39 pm
- Forum: Investing - Theory, News & General
- Topic: Strategy for paying down mortgage
- Replies: 22
- Views: 2238
Re: Strategy for paying down mortgage
I guess the real question is whether there is an advantage of choosing option A versus B. I have been doing A but wonder if B presents any disadvantages. B seems to provide you additional flexibility in the event of a financial hardship.
If people feel this specific question has been covered before, I would welcome a link to the thread.
Thanks again!
If people feel this specific question has been covered before, I would welcome a link to the thread.
Thanks again!
- Sun May 10, 2020 3:53 pm
- Forum: Investing - Theory, News & General
- Topic: Strategy for paying down mortgage
- Replies: 22
- Views: 2238
Strategy for paying down mortgage
Say I have a $1M mortgage with a fixed rate of 3.625% (25 years remaining in a 30 year term). If I want to pay this off in the next ten years, is it better to:
A) simply add extra payments to the principal directly to the bank/lender or
B) forward that money somewhere else (savings account) and once I accumulate enough, pay off the mortgage in a lump sum?
Apologies if this seems like a basic question. Thanks!
A) simply add extra payments to the principal directly to the bank/lender or
B) forward that money somewhere else (savings account) and once I accumulate enough, pay off the mortgage in a lump sum?
Apologies if this seems like a basic question. Thanks!
- Sat Oct 26, 2019 8:11 pm
- Forum: Personal Finance (Not Investing)
- Topic: Flagship clients no longer have a personal rep
- Replies: 48
- Views: 6332
Re: Flagship clients no longer have a personal rep
Is it bad that I have never called to ask to speak with a representative?
What do people here call for? Trying to decide on a fund? Make a transaction by phone? Annual portfolio review?
Just curious...
What do people here call for? Trying to decide on a fund? Make a transaction by phone? Annual portfolio review?
Just curious...
- Sun Nov 04, 2018 10:08 pm
- Forum: Personal Consumer Issues
- Topic: Time to splurge. MB E class, BMW 5 or Audi 6?
- Replies: 70
- Views: 7925
Re: Time to splurge. MB E class, BMW 5 or Audi 6?
I own a 2017 E400 wagon. Great car.
I recommend you test drive the cars you are interested in at night as well. Can't speak for the other brands but the MB has apple CarPlay which I use 100% of the time while I drive (Navigation, messaging, Prime music, etc). Easiest interface IMO.
I recommend you test drive the cars you are interested in at night as well. Can't speak for the other brands but the MB has apple CarPlay which I use 100% of the time while I drive (Navigation, messaging, Prime music, etc). Easiest interface IMO.
- Fri Aug 31, 2018 11:27 pm
- Forum: Personal Consumer Issues
- Topic: Lexus vs. Mercedes
- Replies: 86
- Views: 11438
Re: Lexus vs. Mercedes
I looked at those cars as well as different crossovers and was going to purchase a low-mileage 2016 MB E class.
I ended up buying a new 2017 E class wagon (new body style) for $5000 more than the 2016 (old body style) which had 15,000 miles.
It is glorious.
Buy what you want - I don't think you can make a bad decision between those 2 cars.
I ended up buying a new 2017 E class wagon (new body style) for $5000 more than the 2016 (old body style) which had 15,000 miles.
It is glorious.
Buy what you want - I don't think you can make a bad decision between those 2 cars.
- Fri Aug 31, 2018 9:46 pm
- Forum: Personal Investments
- Topic: Investing in taxable vs mortgage
- Replies: 17
- Views: 2313
Re: Investing in taxable vs mortgage
401K VWENX $675,000 – Invest approximately $43,000/year (my contributions + employer profit sharing) SEP-IRA VAIPX $241,000 – Invest approximately $18,000-20,000/year Traditional IRA VEMAX $19,000 – Currently invest $0/year (no tax benefits) VBTLX $15,000 – Currently invest $0/year (no tax benefits) DEFERRED COMPENSATION PLAN VTTVX $735,000 - Invest $120,000/year Who owns each of the above four accounts? Will the 401k and DCP allow incoming IRA rollovers? If the SEP IRA is from self-employment are there employees or can a solo 401k be substituted? I own all these accounts. I’m not sure if the 401K or deferred comp will allow rollovers. The SEP IRA is from self employment - no employees currently but my accountant has alluded that this shou...
- Fri Aug 31, 2018 9:44 pm
- Forum: Personal Investments
- Topic: Investing in taxable vs mortgage
- Replies: 17
- Views: 2313
Re: Investing in taxable vs mortgage
Paid $300K at the time. Fixed it up for $25-30K. Zillow estimate is $400K. Rent is $2000/mo (covers $1700 mortgage + $300 condo fees). Rationale for buying this at the time was an alternative for paying for my kids’ higher education. By the time the mortgage was paid for, my oldest would be starting college.
- Fri Aug 31, 2018 1:55 pm
- Forum: Personal Investments
- Topic: Investing in taxable vs mortgage
- Replies: 17
- Views: 2313
Re: Investing in taxable vs mortgage
As mentioned I’m avoiding the Backdoor option given the SEP-IRA’s.
With respect to paying the mortgage down to < $1M, would people favor recasting the mortgage? Is it worth cashing in part of taxable and paying taxes on that? I would not feel comfortable putting all my cash into the mortgage.
With respect to paying the mortgage down to < $1M, would people favor recasting the mortgage? Is it worth cashing in part of taxable and paying taxes on that? I would not feel comfortable putting all my cash into the mortgage.
- Fri Aug 31, 2018 8:03 am
- Forum: Personal Investments
- Topic: Investing in taxable vs mortgage
- Replies: 17
- Views: 2313
Investing in taxable vs mortgage
Hi everyone, I have been a member of this forum for approximately 7 years and have learned a lot. Purchased a home 3 years ago for 2.2M with 20% down that I had saved up. Sold my prior home and recovered $500,000 from the proceeds of that sale. Although I had planned on applying that $ into the current home, I left most of it in a savings account. Not sure why but it is what it is... Here is my financial picture 45-year old salaried physician (Finished residency/fellowship by age 34) Annual income – His: $650,000-750,000/yr Hers: $40,000/yr Tax-filing status = married with 3 young kids Net worth including home equity (based on purchase price): approximately $4M I try to allocate our income in thirds: One third for taxes, one third for long-...
- Tue Sep 19, 2017 7:33 am
- Forum: Personal Consumer Issues
- Topic: Name something you had to have and now you regret purchasing it?
- Replies: 505
- Views: 80035
- Thu Aug 10, 2017 8:07 pm
- Forum: Personal Finance (Not Investing)
- Topic: Struggling with Justifying an Expensive Car Purchase
- Replies: 120
- Views: 12824
Re: Struggling with Justifying an Expensive Car Purchase
I'll take a stab at the $70K SUV and go with Lexus GX460. For the $35K SUV, I'll pick Toyota Highlander or Honda Pilot.
Although everyone here seems to be focusing on your financial situation, I'm a car guy and have kids and I would pick the Highlander (or Honda Pilot). With the $ you save, buy a real sports car such as a Miata, S2000, Mustang, etc
My 2 cents...
Please tell us what you decide and congrats on your success! You are way ahead of most people at 34.
Although everyone here seems to be focusing on your financial situation, I'm a car guy and have kids and I would pick the Highlander (or Honda Pilot). With the $ you save, buy a real sports car such as a Miata, S2000, Mustang, etc
My 2 cents...
Please tell us what you decide and congrats on your success! You are way ahead of most people at 34.
- Wed Dec 28, 2016 1:10 am
- Forum: Personal Consumer Issues
- Topic: At what age, income, and NW would you buy a $50k car?
- Replies: 174
- Views: 18631
Re: At what age, income, and NW would you buy a $50k car?
I just hope OP delivers and posts a pic of his new ride.
I was in his situation with similar income but with NW at about $1M and we purchased a then-new 2012 Highlander Hybrid that was $50,000 (after taxes). We test drove several cheaper cars but felt that this vehicle met our needs. I paid cash. Ultimately, this was money well spent for our growing family.
Almost 5 years later, we couldn't be happier.
I was in his situation with similar income but with NW at about $1M and we purchased a then-new 2012 Highlander Hybrid that was $50,000 (after taxes). We test drove several cheaper cars but felt that this vehicle met our needs. I paid cash. Ultimately, this was money well spent for our growing family.
Almost 5 years later, we couldn't be happier.
- Sat May 14, 2016 6:03 pm
- Forum: Personal Investments
- Topic: The Intelligent Investor
- Replies: 14
- Views: 3393
Re: The Intelligent Investor
I almost purchased it yesterday for $13.99. Glad I didn't...
- Sat May 14, 2016 2:35 am
- Forum: Personal Finance (Not Investing)
- Topic: Physician Retirement Savings
- Replies: 464
- Views: 109701
Re: Physician Retirement Savings
Very eye opening to me how many MDs are trying to retire earlier than most (50ish). I'd love to hear from MDs who retired early what was the incentive. The hours? The call?
- Tue Apr 12, 2016 11:34 pm
- Forum: Personal Finance (Not Investing)
- Topic: Refinance Offer
- Replies: 18
- Views: 2429
Re: Refinance Offer
Minor ding to your credit score, assuming they do a credit check.
Having said that, I did the exact refinance (and my loan was sent to Chase both times!).
Having said that, I did the exact refinance (and my loan was sent to Chase both times!).
- Sun Mar 20, 2016 12:02 pm
- Forum: Personal Investments
- Topic: Moving to an expensive new home - mortgage paydown question
- Replies: 9
- Views: 2360
Re: Moving to an expensive new home - mortgage paydown question
As a follow-up to my OP, the house in question is finally in the process of selling (closing this week) and I should net about $525,000. My overall status has not changed. Only thing is we are expecting baby #3 this fall so may need to do a few renovations in the house. May include finishing the attic and renovating the kitchen which could cost $150,000-200,000. There is about $1,770,000 left to pay on the new home. Currently paying about $8,100 monthly in a 30-year fixed mortgage at 3.625%. Total projected interest to be paid: $1,135,959. I have inquired about the possibility of refinancing into a 15-year while paying down the principal. If I pay off the mortgage to $1,400,000, my 15-year rate would be at 3.125%. Monthly payment would be $...
- Sun Oct 11, 2015 10:41 am
- Forum: Personal Investments
- Topic: Need advice on priorities in allocating a $300k lump sum
- Replies: 9
- Views: 1172
Re: Need advice on priorities in allocating a $300k lump sum
If you choose to put money down into mortgage, may be an opportunity to refinance.
- Wed Apr 29, 2015 11:26 pm
- Forum: Personal Consumer Issues
- Topic: Help re Car [convertible]
- Replies: 43
- Views: 6179
Re: Help re Car [convertible]
Another vote for the S2000 if you're OK with a manual transmission. It will hold its value better than any of your other options.Sally wrote:Okay....first, I am DUMB when it comes to cars...but, I have decided that since I now live in paradise, I would like a convertible--reliable, reliable, easy maintenance convertible....at a reasonable price. Any ideas where to start--???? What make, model or any other suggestions would be wonderful....
I currently have a Honda Element (yes, I picked it out and am not sorry--I have been offered more than I paid for it and may still keep it b/c it is so functional but) I think I want a fun car too--yes, I am getting old, so why not????
I'd like to know where "paradise" is...
- Sun Apr 12, 2015 9:19 am
- Forum: Personal Investments
- Topic: Moving to an expensive new home - mortgage paydown question
- Replies: 9
- Views: 2360
Moving to an expensive new home - mortgage paydown question
Hi everyone, I have been a member of this forum for approximately 4 years and have learned a lot. Just purchased a home for 2.2M with 20% down that I had saved up. I am in the process of selling my existing home where I hope to receive between $500,000-$600,000 after freeing up the equity tied to it. Here is my financial picture 42-year old salaried physician (Finished residency/fellowship by age 34) Annual income – His: $650,000-750,000/yr Hers: $60,000/yr Tax-filing status = married with two young kids Debt = 1. Mortgage = New home: $1.788M at 4.0% (30-year-fixed) - already in the process of refinancing to 3.75% Current home (going on sale): $542,000 left to pay at 3.75% (15-year) - home worth about 1.2-1.3M based on comps 2. Credit card ...
- Thu Sep 11, 2014 6:58 pm
- Forum: Personal Finance (Not Investing)
- Topic: Rental rate of return
- Replies: 17
- Views: 2167
Re: Rental rate of return
Not to threadjack, but how do you do this? How do you quantify your time spent?strafe wrote: If you manage the property yourself, you need to account for your time as a management expense. It's not appropriate to factor in your labor in the rate of return.
- Wed Sep 10, 2014 9:39 pm
- Forum: Personal Consumer Issues
- Topic: Experience with dealer finding the exact car you want?
- Replies: 26
- Views: 2961
Re: Experience with dealer finding the exact car you want?
With the upcoming new generation recently introduced, I would think you should have some leverage. Also, why not used? Any other color you would be amenable to?mfswatz9 wrote:Mazda mx-5 Miata with power-retractable top...in red with auto transmission...
- Wed Sep 10, 2014 6:24 pm
- Forum: Personal Consumer Issues
- Topic: Experience with dealer finding the exact car you want?
- Replies: 26
- Views: 2961
Re: Experience with dealer finding the exact car you want?
+1Busting Myths wrote:Which car?mfswatz9 wrote:I am toying with buying a new car. The model I want is an automatic and the only ones within 100 or more miles all have manual shift. If I have the dealer find the one I like, would I have any wiggle room on the price? Just wondering what other people's experience has been....
So rare these days to have difficulty finding an automatic over a manual. It's usually the reverse!
- Sat Aug 16, 2014 9:27 am
- Forum: Personal Finance (Not Investing)
- Topic: Roth questions from an MD
- Replies: 32
- Views: 5005
Re: Roth questions from an MD
I am going to do the backdoor Roth for my spouse. (It doesn't trigger a tax event for my SEP-IRA, correct?)retiredjg wrote:I hope this doesn't mean you aren't going to use the back door contribution to Roth IRA, at least for your spouse.iceman99 wrote:I think I'm leaning towards staying as I am with my investment strategy.
- Sat Aug 16, 2014 1:04 am
- Forum: Personal Finance (Not Investing)
- Topic: Roth questions from an MD
- Replies: 32
- Views: 5005
Re: Roth questions from an MD
I think I'm leaning towards staying as I am with my investment strategy.
I can't imagine having an annual income > $450,000 in retirement unless I work like this until I'm 70! I always planned for something in the $200K range (gross) which roughly meant getting to $5-6M. Achievable in 10-15 years, I think, assuming income stays the same and my spending habits don't change too much.
Haven't even factored in Social Security...
I can't imagine having an annual income > $450,000 in retirement unless I work like this until I'm 70! I always planned for something in the $200K range (gross) which roughly meant getting to $5-6M. Achievable in 10-15 years, I think, assuming income stays the same and my spending habits don't change too much.
Haven't even factored in Social Security...
- Thu Aug 14, 2014 10:39 pm
- Forum: Personal Finance (Not Investing)
- Topic: Roth questions from an MD
- Replies: 32
- Views: 5005
Re: Roth questions from an MD
Hi everyone, I have been a member of this forum for approximately 4 years and have learned a lot. A nagging question I ask myself is whether a Roth 401K and/or backdoor Roth is/are appropriate for my situation. Here is my financial picture 41-year old salaried physician (Finished residency/fellowship by age 34) Annual income – His: $600,000-750,000/yr Hers: $60,000/yr Tax-filing status = married (with one 2-year old and one on the way) Emergency funds/short term savings = $400,000 parked in an Ally bank account for possible downpayment on future house/other large expenses. Debt = 1. Line of credit = $1,500 at 3.00% 2. Mortgage = $570,000 at 3.75% (15-year fixed with 10 years remaining). Home is worth probably about $1.1M 3. Credit card deb...
- Thu Aug 14, 2014 10:36 pm
- Forum: Personal Finance (Not Investing)
- Topic: Roth questions from an MD
- Replies: 32
- Views: 5005
Re: Roth questions from an MD
Would investing into a Roth 401K (instead of the “regular” 401K) be a better idea at these tax rates? I cannot imagine any circumstance where Roth 401k would be a good idea for you. The whole idea behind deferral of taxes is to put taxes off until a time when you will be in a lower tax bracket. It seems to me that you will be very wealthy in retirement, but I can't imagine that you will still be in the 39.6% tax bracket. In fact, if you do things right, you could be in a very low tax bracket. What I don't know is if you lose some of the benefit of deferring taxes because of the Alternative Minimum Tax (something I know almost nothing about). Nevertheless, I still can't imagine that Roth 401k would be good for you. Should my wife and I cons...
- Thu Aug 14, 2014 8:30 am
- Forum: Personal Finance (Not Investing)
- Topic: Roth questions from an MD
- Replies: 32
- Views: 5005
Re: Roth questions from an MD
Aren't you above the limits if you combine the SEP-IRA and 401k totals? I always contributed to an IRA even if it was not deductible. The question regarding a Roth contribution vs. traditional IRA is what will be your tax bracket in the future. If you expect to have a long career then it is likely your tax bracket will not go down unless you move to a state with lower income tax rates. Your wife's tax rate will go up in retirement if you pre-decease her. If you make back door conversions yearly, the taxes will be based on your total in IRAs. Maybe your 401k plan will allow transfers of your traditional IRAs into it. I have never believed in keeping a lot in cash. Your $400,000 is earning nothing for you. When Vanguard looked at my assets t...
- Wed Aug 13, 2014 11:38 pm
- Forum: Personal Finance (Not Investing)
- Topic: Roth questions from an MD
- Replies: 32
- Views: 5005
Roth questions from an MD
Hi everyone, I have been a member of this forum for approximately 4 years and have learned a lot. A nagging question I ask myself is whether a Roth 401K and/or backdoor Roth is/are appropriate for my situation. Here is my financial picture 41-year old salaried physician (Finished residency/fellowship by age 34) Annual income – His: $600,000-750,000/yr Hers: $60,000/yr Tax-filing status = married (with one 2-year old and one on the way) Emergency funds/short term savings = $400,000 parked in an Ally bank account for possible downpayment on future house/other large expenses. Debt = 1. Line of credit = $1,500 at 3.00% 2. Mortgage = $570,000 at 3.75% (15-year fixed with 10 years remaining). Home is worth probably about $1.1M 3. Credit card debt...
- Fri Jul 11, 2014 10:03 pm
- Forum: Personal Consumer Issues
- Topic: High end purses
- Replies: 119
- Views: 20539
Re: High end purses
This thread will rapidly go the way of those such as discussions about $5,000 watches. The bottom line from other threads, about not saving everything and enjoying life too, is probably along the lines of: -- can you/she afford something expensive? -- will she enjoy it for a long time? -- do you have emergency & retirement planning well funded, or on track? ... etc. The point of planning carefully for current and future expenses isn't supposed to be to deny oneself all pleasures, or even all expensive pleasures. And don't let others decide what gives *you* or your wife pleasure. Or whether you can "afford" it. For some people the $300-500 range is wildly expensive. For others, barely a minimum. If you/she do go this route, I'...
- Wed Jun 04, 2014 7:57 pm
- Forum: Personal Finance (Not Investing)
- Topic: Poll: Luxury and Happiness
- Replies: 141
- Views: 15932
Re: Poll: Luxury and Happiness
I vote a luxury as I use mine for about 10% of my pictures. (The rest are with my smartphone or P & S camera)richard wrote:Is a DSLR a luxury item compared to a point and shoot or is it a better tool for taking photos?
- Wed Jun 04, 2014 5:01 pm
- Forum: Personal Finance (Not Investing)
- Topic: Poll: Luxury and Happiness
- Replies: 141
- Views: 15932
Re: Poll: Luxury and Happiness
Never knew $5 beer was a luxury...
I've bought some luxury items in the past. An Omega watch (needed to be repaired twice in the past 4 years). A Louis Vuitton briefcase that I bought on St-Germain des Pres in Paris. It made a nice memento of a beautiful trip with my wife and was much cheaper than buying it in the US. Used it regularly but it too needed repair (twice!) in the past 3 years...
I still wear the Omega because I love having a mechanical watch
I've been more careful of what I put in the LV bag, however.
I've bought some luxury items in the past. An Omega watch (needed to be repaired twice in the past 4 years). A Louis Vuitton briefcase that I bought on St-Germain des Pres in Paris. It made a nice memento of a beautiful trip with my wife and was much cheaper than buying it in the US. Used it regularly but it too needed repair (twice!) in the past 3 years...
I still wear the Omega because I love having a mechanical watch
I've been more careful of what I put in the LV bag, however.
- Wed Jun 04, 2014 7:52 am
- Forum: Personal Consumer Issues
- Topic: Hernia Surgery
- Replies: 15
- Views: 1979
Re: Hernia Surgery
Is it the general anesthetic that is bothering you? I have had general anesthesia for a procedure and it went fine.
Why do you think all these general surgeons want to use mesh in their repairs?
Why do you believe non-mesh repair is superior?
Why do you think all these general surgeons want to use mesh in their repairs?
Why do you believe non-mesh repair is superior?
- Tue Dec 31, 2013 7:48 pm
- Forum: Personal Finance (Not Investing)
- Topic: At what age did your portfolio hit $1M?
- Replies: 33
- Views: 6660
Re: At what age did your portfolio hit $1M?
Buying a new car is an urge I constantly fight...The Wizard wrote:Yeah, this.sscritic wrote:Before or after the divorce? Two eggs make a bigger omelette than just one.
Hit it once before and another time afterwards.
It's an amusing waypoint enroute to The Goal.
I resisted the urge to run out and buy a Cadillac...
I made it to the "2 comma club" last week but realize that it's very much artificial since some of those funds are in tax-advantaged accounts and dependent on the markets.
- Sat Dec 14, 2013 7:57 am
- Forum: Personal Investments
- Topic: What percentage of your income are you saving?
- Replies: 208
- Views: 26374
Re: What percentage of your income are you saving?
I honestly have no idea what my exact percentage is (likely 20-30% gross). I am 40, married with a young child.
I work hard and try to earn as much as I can (paid based on productivity). With my after-tax income, I spend wisely.
The rest goes into either into short-term savings/emergency fund or long-term investing.
I think many people feel they'll live until they're 100 and are afraid of outliving their assets. I almost feel somewhat contrarian to this. I see people around me dying at younger than expected ages and feel I want to live many experiences before I pass on.
I also want to own a 911 at some point but that's another story!
I work hard and try to earn as much as I can (paid based on productivity). With my after-tax income, I spend wisely.
The rest goes into either into short-term savings/emergency fund or long-term investing.
I think many people feel they'll live until they're 100 and are afraid of outliving their assets. I almost feel somewhat contrarian to this. I see people around me dying at younger than expected ages and feel I want to live many experiences before I pass on.
I also want to own a 911 at some point but that's another story!
- Sat Nov 16, 2013 9:57 am
- Forum: Personal Consumer Issues
- Topic: Self-Indulgence
- Replies: 52
- Views: 6413
Re: Self-Indulgence
Always drooled over nice cars throughout my life. I can afford it now but just can't get myself to spend the money on a depreciating asset. As a physician with 20 years or so left in my working years I don't know how all the changes in healthcare will affect my profession so I hesitate to make "big" purchases.
- Thu Aug 01, 2013 9:28 pm
- Forum: Personal Consumer Issues
- Topic: Help with picking a mid-size luxury sedan
- Replies: 28
- Views: 3934
Re: Help with picking a mid-size luxury sedan
Avalon is a nice ride
- Fri Jul 19, 2013 4:53 pm
- Forum: Investing - Theory, News & General
- Topic: How and when did you do it - to get to 1 Million
- Replies: 129
- Views: 31285
Re: How and when did you do it - to get to 1 Million
Pretty much sums it up.steve roy wrote:I think it's simple and ... fairly boring.
Make money
Save more than you spend
Pick an AA you're comfortable with
Stick with the plan during ups and downs
- Sun Jun 16, 2013 10:05 pm
- Forum: Personal Consumer Issues
- Topic: Highlander Hybrid
- Replies: 7
- Views: 1334
Re: Highlander Hybrid
Own a 2012 Highlander Hybrid. Great ride. Somewhat expensive when you compare it to a base nonhybrid model but it has more amenities and the mileage is decent. 25-27 mpg is about right although that will decrease if you live near hills.
No problems to report.
I'm not sure if you're buying new or not but next generation is just around the corner if you care.
No problems to report.
I'm not sure if you're buying new or not but next generation is just around the corner if you care.
- Wed Apr 24, 2013 8:22 pm
- Forum: Personal Finance (Not Investing)
- Topic: Deleted
- Replies: 93
- Views: 13575
Re: [physician wants to explore career options]
I don't think I could leave medicine entirely.
As another poster has mentioned I too am thinking about diversifying my practice by becoming more involved in research and teaching with the residents.
Physician burnout is a reality that people don't fully appreciate given the relatively higher salaries we make.
OP, maybe you should consider taking a sabbatical.
As another poster has mentioned I too am thinking about diversifying my practice by becoming more involved in research and teaching with the residents.
Physician burnout is a reality that people don't fully appreciate given the relatively higher salaries we make.
OP, maybe you should consider taking a sabbatical.
- Thu Apr 11, 2013 10:42 pm
- Forum: Personal Consumer Issues
- Topic: Spouse wants to purchase a bicycle for 5000.
- Replies: 129
- Views: 12602
Re: Spouse wants to purchase a bicycle for 5000.
EmergDoc wrote:Does it come with a watch?
Let her get the bike.
or him?
- Sat Mar 30, 2013 9:17 am
- Forum: Personal Consumer Issues
- Topic: can i buy my sportscar?
- Replies: 129
- Views: 15151
Re: can i buy my sportscar?
Good for you -- buy the car -- enjoy -- sometimes amazed at my fellow boeglehead's inability to spend money. I understand this board, frugality is a good thing, and has served me well. I read the millionaire next door when it came out. Came on to it by chance, but after reading it, it gave me a perspective on things. I think it helped me stay frugal, but still enjoy life to some degree. However, lost in all of it, is the idea that you can't do much with a lot of money except pass it on to heirs. I certainly want to pass money on to my kids, but once in a while, there is no real direction to splurge. Frugality I think has been very important for us. We still use coupons, and my wife buys clothes at target, not at the expensive mall. We stil...
- Sat Mar 23, 2013 12:35 pm
- Forum: Personal Consumer Issues
- Topic: Midlife Crisis
- Replies: 109
- Views: 16305
Re: Midlife Crisis
If I were to buy a new "midlife crisis" car (Porsche or other make) I would put it to good use and go on a road trip. I enjoy watching shows like "Diners, Drive-in's, and drives" or the Food Paradise series on Travel Channel. Would make a good excuse to check out these featured restaurants and visit some cool cities.
- Wed Mar 06, 2013 10:13 pm
- Forum: Investing - Theory, News & General
- Topic: I hit my number today.
- Replies: 74
- Views: 10286
Re: I hit my number today.
How does one determine one's number? Is it a multiple of one's annual income?
I really just try to save as much as I can of what I earn and live below my means.
It's an honest questions for people on this forum. When do you know you have "enough" in your portfolio?
I really just try to save as much as I can of what I earn and live below my means.
It's an honest questions for people on this forum. When do you know you have "enough" in your portfolio?
- Fri Feb 15, 2013 10:13 pm
- Forum: Investing - Theory, News & General
- Topic: The end of an investing era (Market Watch article)
- Replies: 13
- Views: 2850
Re: The end of an investing era (Market Watch article)
I don't see the enjoyment in investing either. It's a means to one end: making money. Although the end result (growth of your portfolio) may produce enjoyment, the process (especially the "Boglehead mentality" of investing) is implicitly boring.
But then, I'm an adopter of one of the Lazy Portfolio's so there's little excitement going on on my computer screen.
But then, I'm an adopter of one of the Lazy Portfolio's so there's little excitement going on on my computer screen.
- Thu Feb 14, 2013 12:12 pm
- Forum: Personal Consumer Issues
- Topic: Sienna 2013 AWD. MSRP $33,700.
- Replies: 22
- Views: 4014
Re: Sienna 2013 AWD. MSRP $33,700.
Another vote for the Highlander Hybrid. Although, when optioned out can push the MSRP close to $50K.
- Thu Feb 07, 2013 7:17 pm
- Forum: Investing - Theory, News & General
- Topic: What % of your income are you saving for retirement?
- Replies: 228
- Views: 35099
Re: What % of your income are you saving for retirement?
About 30% gross