Search found 877 matches

by 2stepsbehind
Mon Apr 27, 2020 6:57 am
Forum: Personal Consumer Issues
Topic: Infrequent Flyer Needs Advice Cancelling United Tickets
Replies: 7
Views: 822

Re: Infrequent Flyer Needs Advice Cancelling United Tickets

grettman wrote: Sun Apr 26, 2020 1:31 pm Thanks for the responses.

Not being much of a gambler, I don’t want rely on United extending the April 30 deadline. What’s the harm in me getting the ETC and just rebooking later if it turns out Glacier is open in August and I want to proceed with my trip?
You will be responsible for any fare differences. If the ticket prices go up, that's more money out of pocket. For those in competitive markets, it also locks you into flying United when there may be other carriers you'd consider flying.
by 2stepsbehind
Thu Jan 03, 2019 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Autistic sister being targeted by Nigerian scammers
Replies: 84
Views: 8959

Re: Autistic sister being targeted by Nigerian scammers

entropy2017 wrote: Wed Jan 02, 2019 9:43 pm
- She lives with my parents, who provide the basics of life, including a place to live, food, and transportation (rides). They also pay for mobile phone service.

If she has to start paying for some of these expenses, it would reduce the amount of money she would have available to send overseas. Perhaps your parents could start charging her below market level rent etc. Your parents could put the money she pays them into a special needs trust for her benefit.
by 2stepsbehind
Thu Jan 03, 2019 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Autistic sister being targeted by Nigerian scammers
Replies: 84
Views: 8959

Re: Autistic sister being targeted by Nigerian scammers

Contact Disability Rights California (1-800-776-5746); they may have law enforcement contacts that they've worked with on similar cases or may otherwise be able to advise you. I'd also suggest that you contact her bank and ask that a SAR (suspicious activity report) be filed (chances are they've already filed one, but it can't hurt to be proactive); this is one way some of these scams get on law enforcement's radar. Some of the advice you've received here is .... questionable to say the least. While money is important, personal freedom, bodily integrity and freedom from violence I would argue are more important. The suggestions that you introduce your sister to someone locally who "will just want to take advantage of her" or trave...
by 2stepsbehind
Thu Jan 03, 2019 12:30 am
Forum: Personal Finance (Not Investing)
Topic: Autistic sister being targeted by Nigerian scammers
Replies: 84
Views: 8959

Re: Autistic sister being targeted by Nigerian scammers

entropy2017 wrote: Wed Jan 02, 2019 9:43 pm
- Local police reports have been filed, but no actions have been taken.
- My parents have sent information to the FBI Internet Crime Complaint Center. However, I know the FBI is so busy, and there are so many cases like this, that I suspect they will not take action.
- I have talked to a close friend in law enforcement who has said that there is not much we can do. He has said that the police will probably not prosecute my sister because of her autism.
What state do you live in?
by 2stepsbehind
Sat Dec 01, 2018 2:17 am
Forum: Personal Consumer Issues
Topic: Vacation for single parent and 2 teens: Belize or where?
Replies: 29
Views: 3177

Re: Vacation for single parent and 2 teens: Belize or where?

If your teenagers are 13 + 16, you should consider having them research potential destinations + have them rank the potential options + flag activities of interest. This both reduces stress on your part by getting them involved in planning + minimizes grumbling on the back end (you guys said you wanted to do this!).
by 2stepsbehind
Sat Dec 30, 2017 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Securing Law School Scholarships
Replies: 37
Views: 5085

Re: Securing Law School Scholarships

Just saw this. I did the law school thing many moons ago. Law school admission is still all about the numbers (GPA + LSAT), and you have good ones. There are also other factors that could tip the scales in your favor, (geographic diversity, undergraduate college attended, essay, URM status, work experience, etc.) You have already been given a lot of good advice. Adding mine: -Cast a wide net with you applications and apply to as many top 14 schools as possible + the other ones you were planning on. Apply ASAP if you haven't already; many schools have rolling admissions even if they don't explicitly state this. With your #'s as a URM, you could have a shot at any school; however, if you happen to get in HYPS (reaches for practically everyon...
by 2stepsbehind
Tue Dec 26, 2017 12:11 am
Forum: Personal Consumer Issues
Topic: European Cities that don't interest you
Replies: 187
Views: 18480

Re: European Cities that don't interest you

Personally:
Tallin
Riga
Vilnius
Minsk
Chisinau
Skopje
Podgorica
Tirana
Gdansk

I haven't heard enough about these cities that would put them on the map and my sense is these cities are less cosmopolitan and potentially more hostile to outsiders.
by 2stepsbehind
Mon Dec 25, 2017 11:55 pm
Forum: Personal Consumer Issues
Topic: European Cities that don't interest you
Replies: 187
Views: 18480

Re: European Cities that don't interest you

Venice was the one city in Europe that I did not enjoy, but I wouldn't discourage anyone from going there. It is very much like Disneyland. Go there for a day, maybe a day and a half, and you will get the gist and in my case, want to move on. When I went it was the shoulder season and so it wasn't slammed with tourists, but even so, the whole area is so geared towards tourists, it is hard to see what is real. Smaller Italian cities, especially in Tuscany, give a much better representation of Italy. Vienna is more a livable city than a tourist one with a lot to do. The palaces are nice and I would highly recommend the opera, but those things take two days, tops. After that, the city is nice, the people are great, but there isn't much to do....
by 2stepsbehind
Fri Dec 22, 2017 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Paid Off $340K in Student Loans in 4 Years!
Replies: 21
Views: 2581

Re: Paid Off $340K in Student Loans in 4 Years!

I've been waiting a long time to cross the finish line on student loans, but it finally happened a few days ago. In 50 months, I paid off $340K in student loans (undergrad + law school + 2+ years of accrued interest while working in a legal clerkship). I refinanced three times along the way (Sofi --> DRB --> First Republic) and managed to max out my 401(k) each year as well. I bought two houses -- the first a fixer upper that I sold after 2.5 years and made a profit that went to the loans, got married, had a baby, and purchased several vehicles with cash. My income has fluctuated from $180K to $400K (still in BigLaw) and my net worth has increased by $600K during that time (currently at $225K). Thanks to everyone on this forum for all of t...
by 2stepsbehind
Fri Dec 22, 2017 8:34 am
Forum: Personal Finance (Not Investing)
Topic: opinions requested on student college decision / financial related
Replies: 87
Views: 7281

Re: opinions requested on student college decision / financial related

I went through this decision twice and at this very moment reaping the rewards of our decision to pay for two elite private schools. My youngest is now studying for a final exam in a very difficult class tomorrow morning. He is studying with and learning from some very bright kids. He has helped them in classes where he was strongest, and today getting help in a class he found very challenging. The quality of the student body at his school far outstrips the mega-public unis that would have cost me less than half. The whole point is to learn and you don't just learn from profs, you can learn from other students too, if surrounded by bright students. Both my kids met super bright kids of many different socioeconomic backgrounds. Both were hi...
by 2stepsbehind
Tue Dec 05, 2017 4:37 am
Forum: Personal Consumer Issues
Topic: Europe Suggestions
Replies: 44
Views: 4578

Re: Europe Suggestions

Looking at taking a family trip to Europe this summer. Kids will be 10 and 12, trying to beat the grumpy teen years (I guess). I'm thinking about 3 weeks in length. Should have a few airline tickets with miles and will likely use AirBandB, or some other lower budget option for housing. Looking for suggestions on: 1. Destinations. Thinking London and Paris but also considering a 3 week Eurorail pass (with many countries and stops). 2. Affordable housing suggestions. 3. Must sees. So far, I've only been to London, Paris, and Athens (and Greek Islands). 4. Perhaps more affordable destinations/countries that aren't as popular. 5. General advice on Europe. 6. Train vs Flying between countries. 7. Money saving tips (trying to do this for less th...
by 2stepsbehind
Fri Dec 01, 2017 4:05 am
Forum: Personal Consumer Issues
Topic: Should I consider a travel Credit Card?
Replies: 44
Views: 28542

Re: Should I consider a travel Credit Card?

I currently have Citi Double cash back card that gives 2% on everything. I uses it for almost all kind of purchases. My DW is an authorized user and uses it as well. Our current monthly spending with the card is $800~$1200. Starting next summer, we would probably start travelling internationally to our home country for visits. I estimate that will be around $1500~$2000/year in flight tickets. No hotel, restaurants (except very few may be) or car rental will be needed. may be some Uber as well.. I won't probably use the same airline every time.. Should I start considering a travel credit card instead of the 2% cash back one? And if so, which one would at least break-even if I replaced my card for it? I know there are a lot of sites that com...
by 2stepsbehind
Thu Nov 30, 2017 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Who are heirs? No will.
Replies: 63
Views: 10736

Re: Who are heirs? No will.

jonnyboy wrote: Thu Nov 30, 2017 10:37 am I am also confused as to whether there are three or four brothers. That answer will directly have an impact on the answer.

The applicable statute is IC 29-1-2-1, which can be located on pages 9 and 10 of this:

http://iga.in.gov/legislative/laws/2017 ... /IC%2029-1

Signed,
A FL/NY lawyer
Or at the link I hyperlinked above :wink:
by 2stepsbehind
Thu Nov 30, 2017 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: Who are heirs? No will.
Replies: 63
Views: 10736

Re: Who are heirs? No will.

novillero wrote: Thu Nov 30, 2017 5:50 am #10 is correct.
Signed a N.J./NY Lawyer

P.S. the surrogate’s office where the person died will be able to help. Don’t get lawyers involved. It’s not necessary.
There is no surrogate's office in Indiana and if you call the relevant county superior court they will direct you to obtain counsel.
by 2stepsbehind
Thu Nov 30, 2017 5:29 am
Forum: Personal Finance (Not Investing)
Topic: Who are heirs? No will.
Replies: 63
Views: 10736

Re: Who are heirs? No will.

They will likely need to hire counsel. Here's a link to the applicable statute for Indiana: http://codes.findlaw.com/in/title-29-probate/in-code-sect-29-1-2-1.html Particularly relevant for your purposes: (3) Except as provided in subsection (e), if there is no surviving spouse or issue of the intestate, then to the surviving parents, brothers, and sisters, and the issue of deceased brothers and sisters of the intestate...Issue of deceased brothers and sisters shall take by representation. (4) If there is no surviving parent or brother or sister of the intestate, then to the issue of brothers and sisters.  If the distributees described in this subdivision are all in the same degree of kinship to the intestate, they shall take equally or, if...
by 2stepsbehind
Sun Nov 26, 2017 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: The fallacy of spending money on "experiences" vs hard assets
Replies: 336
Views: 28828

Re: The fallacy of spending money on "experiences" vs hard assets

I think you use the word 'greatly' a bit to liberally. The risk is minuscule in either case and fretting over it reflects the irrational way we overweight fears of what we don't know while underweighting risks we are exposed to every day. Absolute vs relative risk. The relative risk of an encounter with a wild animal native to Africa is vastly greater if one goes to Africa and seeks out such animals than if one does not. Since the risk of being attacked by a rhino in suburban US is very close to zero any risk measurably above zero is a "great" increase. Ratio approaches infinity as the denominator approaches zero. http://www.nydailynews.com/news/national/american-tourist-75-killed-hippo-attack-safari-article-1.3403308 http://www....
by 2stepsbehind
Fri Nov 24, 2017 7:45 pm
Forum: Personal Investments
Topic: Seeking to save $20,000 in one year
Replies: 18
Views: 2735

Re: Seeking to save $20,000 in one year

Take on a second job. Otherwise between taxes and 403 contributions it may not be realistic to save 20k on a 47k salary--also if you have a paid in full house why do you need a 20k emergency fund? You might be better served contributing more to your 403 account and having a more modest amount of savings.
by 2stepsbehind
Fri Nov 24, 2017 7:41 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Finance Advice for New Grad (HCOL, comp better than expected)
Replies: 9
Views: 1473

Re: Personal Finance Advice for New Grad (HCOL, comp better than expected)

(more or less at the behest of my dad, who is a fairly prolific BH - can you guess who?!). TomatoTomahto. My understanding is that in my bracket I should max out my 401(k) and max out a backdoor ROTH. Does that make sense? yes I have heard that it is nothing short of a tax arbitrage to live in Jersey City / Hoboken because one avoids the city tax (worth $6-10k/yr in my bracket as far as I can tell). Do people have opinions about this? My commute to work from JC/Hoboken will not be bad at all. Live in Jersey; you get more space/amenities than you will in NYC The intersection of personal finance and my friendships seems particularly awkward. My friends seem to know that I'll be doing well based on my employer. I'm not sure how to deal with co...
by 2stepsbehind
Fri Nov 10, 2017 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: PayPal alternative?
Replies: 47
Views: 4365

Re: PayPal alternative?

There is no Paypal fee if you are sending money to a friend, even with a credit card. That is simply NOT true from my experience. I have done dozens of transactions this year. After a brutal experience with Paypal and a linked bank account, I absolutely refuse to link any bank account to my Paypal account. Care to elaborate ? Overdraft fee at my bank because Paypal not once but twice tried to take money from that account for the same purchase. It was enough for me to see red. They wouldn't even refund the 2nd attempt fee. Ever since then if I can avoid Paypal I do. I cannot imagine the headaches of people who have had their accounts frozen. Paypal is not a bank. Therefore they don't have to following banking regulations. That's not true. P...
by 2stepsbehind
Mon Oct 23, 2017 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: How to make a Will myself?
Replies: 20
Views: 2229

Re: How to make a Will myself?

First google and try to find out what's the worst case scenario if you die intestate in your state and figure out if you can live with that. Then go to your public library. Borrow Quicken will maker by Nolo for your state. Complete the questionnaire/use the software to draft the will. Follow its instructions to the letter on how to properly execute the document. Leave copies where accessible but not too accessible.
by 2stepsbehind
Sun Sep 24, 2017 10:59 am
Forum: Personal Finance (Not Investing)
Topic: Spouse Money Management
Replies: 94
Views: 10261

Re: Spouse Money Management

Not exactly what you asked, but I think you guys should wait until you are a bit more equally yoked to combine finances in the way you are envisioning it. I'd imagine it would be extremely difficult for a relationship to thrive/survive where one is perceived as largely subsidizing the other without that other taking on the bulk of household activities/disability/or a perceived payout down the line. Particularly given you aren't making that much money and the funds over which the gf has access are rather limited, your savings goals are likely unrealistic at this stage. You contribute to your retirement. Don't give your gf access to your money and then she can't overspend it.
by 2stepsbehind
Sat Sep 16, 2017 11:36 am
Forum: Personal Finance (Not Investing)
Topic: Mother-In-Law dying, Wife wants to buy a Porsche
Replies: 51
Views: 7125

Re: Mother-In-Law dying, Wife wants to buy a Porsche

I would suggest that the rest of the inheritance be parked for the 6 month type time frame recommended after a loss. This. Convince her to wait 6 months for the estate to settle out and emotions to cycle prior to making any decisions on purchases. Personally, I would utilize the angle she can research the car buying during the 6 month and perhaps wait for the current models to get sold/traded in before buying one. Don't tell her NOT to get one, just buy the 6 month time wait and use that time to have financial discussions with her. Another point I'd like to make is that while it is "her" inheritance, a highly educated adult should be able to see the utility and necessity of altering this from 'mine' to 'our family's'. There are p...
by 2stepsbehind
Sat Sep 16, 2017 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Mother-In-Law dying, Wife wants to buy a Porsche
Replies: 51
Views: 7125

Re: Mother-In-Law dying, Wife wants to buy a Porsche

Have your wife and her half sister discussed with their mother why the half sister is not getting part of the investments? This may be another source of stress/tension after her passing and it may be better to resolve any issues now.
by 2stepsbehind
Sat Sep 16, 2017 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Mother-In-Law dying, Wife wants to buy a Porsche
Replies: 51
Views: 7125

Re: Mother-In-Law dying, Wife wants to buy a Porsche

It doesn't sound like you two are on the same page financially. I don't think there is any way I or my husband could surprise each other financially. But I don't know if now is the time to address it. I'm curious to hear what other bogleheads think about inheritances, is it HER money or THEIR money? My mother passed away and when she did my father started to get his affairs in order for when his time came. He has multiple properties as well as investments and he has stated time and time again that my brothers and I come up with a plan irrespective of the spouses. My husband agrees 100%. And the inheritance is likely to be sizeable. My dad works for fun. Similarly when my mother died, my SIL deferred sorting through her jewelry to my brothe...
by 2stepsbehind
Tue Aug 29, 2017 11:35 pm
Forum: Personal Investments
Topic: Priorities - Biglaw junior associate
Replies: 58
Views: 10337

Re: Priorities - Biglaw junior associate

If the market tanks over the next couple of years, you are going to wish you had played it safe and paid down your debt. I knew way too many senior associates when I was a summer and junior associate who said they didn't pay down their debts because the rate was so low only to regret it. Max out your tax advantaged vehicles, put a healthy amount in taxable, but still work on reducing the albatross.

Unlike another poster, in my experience BigLaw firms don't tend to allow you to mega backdoor, but if your firm does, then by all means take advantage.
by 2stepsbehind
Sat Aug 26, 2017 11:41 am
Forum: Personal Finance (Not Investing)
Topic: School Redistricting - What should we do?
Replies: 96
Views: 12123

Re: School Redistricting - What should we do?

There is more than that to consider. Sure. My point is only that folks often overestimate the importance of school ratings, especially when they highlight the differences between excellent and good or average. I don't know the OP's circumstances. It may be that the new school will fundamentally limit options moving forward for students in that family. I disagree that folks overestimate the importance. I firmly believe you make life long friends in middle and highschool and you learn your fundamental habits equally from your friends. Education is the best life long gift you can give your children. My circle of friends is the same as it was in elementary school. We've known each other and been hanging out for nearly 30yrs, with a few excepti...
by 2stepsbehind
Sat Aug 26, 2017 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Special Needs Trust - Do we need it??
Replies: 23
Views: 3016

Re: Special Needs Trust - Do we need it??

Thank you all... much good information. SSI benefits are for a disabled child, receiving 1/2 of my Dad's amount. It looks like that would be reduced by ~$265 if funds provided from trust. Taxes of 39.6% for income over $12,400 if monies placed in trust. WOW! Obviously we don't want to the fund trust before we must (definitely not now)! Definitely something to think about if we're talking income on ~$1M invested! Mom will do whatever I think is best (since I'll be the guy managing it)... :annoyed I don't think brother will be a problem, but as you said, you never know... An ABLE account sounds good. I need to look into them. The trust sounds better now. However, paying Uncle Sam 39.6% would be ~22% over what I'd pay if I had it in separate ...
by 2stepsbehind
Sat Aug 12, 2017 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Investing Education and Mansplaining
Replies: 128
Views: 14074

Re: Investing Education and Mansplaining

Thesaints wrote: Thu Jul 27, 2017 8:07 pm
wrongfunds wrote: It seems to be extension of the old adage where in a man dominated field women (or a black man in traditionally white man's career) have be at least twice good if she has to succeed.
This adage must date back to times before AA...
::eye-roll:: It continues to this day as women and people of color have to overcome not only discrimination, but noxious stereotyping. Until you've been in the position of being in the minority in a field where many of your coworkers and/or superiors believe you don't belong or are incapable of performing (see, e.g., the recent Google kerfuffle) you will not understand the added toil/pressure that requires/creates.
by 2stepsbehind
Mon Jul 31, 2017 1:56 am
Forum: Personal Finance (Not Investing)
Topic: Philosophy major and future law student
Replies: 93
Views: 9389

Re: Philosophy major and future law student

Strangely, serious public interest law, or the kind of law that might lead to a career as a leading white collar criminal attorney (often with political ambitions) seems to be *tougher* to get into than even Big Law? Ivy League undergrad, top law school and law review, etc. I wouldn't say it's tougher than Big Law, but this statement is otherwise true. The Federal Public Defender program, US Attorneys' Offices, and state Solicitor General offices (and, to a lesser extent, state Attorney General offices) are chock full of Ivy-League-educated lawyers these days. Attorney positions in those programs definitely constitute "serious public interest law" that people with political ambitions consider plum. It's possible to move laterally...
by 2stepsbehind
Wed Jul 26, 2017 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: Post Nuptial agreement guaranteeing alimony?
Replies: 113
Views: 11127

Re: Post Nuptial agreement guaranteeing alimony?

I think putting your career on the back burner risks undermining your entire relationship. Frankly, I would have gone ahead and taken the position. Then the husband can't get ahead in his field? And he should look into a post-nup? After all, he would be giving up something to make it better for her. People do long distance marriages so I reject your premise. There is compromise in relationship, but that should mean both parties doing their fair share of compromises. I agree with the compromise part. But you said I think putting your career on the back burner risks undermining your entire relationship. Frankly, I would have gone ahead and taken the position. Would you also say this to the husband? So I'm not sure if you're trying to show bo...
by 2stepsbehind
Wed Jul 26, 2017 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Post Nuptial agreement guaranteeing alimony?
Replies: 113
Views: 11127

Re: Post Nuptial agreement guaranteeing alimony?

I think putting your career on the back burner risks undermining your entire relationship. Frankly, I would have gone ahead and taken the position. Then the husband can't get ahead in his field? And he should look into a post-nup? After all, he would be giving up something to make it better for her. Not everyone can take advantage of every opportunity. Suppose there is a couple living in the middle of the country and one gets an offer with a significant increase if they move to the East coast. The other gets a great offer that requires moving to the West coast. They both can't take their offer, while maintaining a regular relationship. This is where discussion, compromise, and doing what's best for the family comes into play. (It is likely...
by 2stepsbehind
Wed Jul 26, 2017 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: GF Picking a college major
Replies: 105
Views: 9898

Re: GF Picking a college major

Who is currently paying for her tuition? Her parents have been paying so she has zero debt now, but they run out of money so now, more college = debt. I don't think dropping out to wait tables is wise, but she might consider taking a leave of absence to teach English abroad and use that time to travel and figure out what she wants to do. She should probably also check out that career services office at the University and take an aptitude test to get an idea of types of professions she might be best suited to. That's an interesting idea, but another issue is her parents are pressuring her to finish school because they are believers in the traditional "4-year college is for everyone" myth. Why don't you think dropping out to wait t...
by 2stepsbehind
Wed Jul 26, 2017 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: Post Nuptial agreement guaranteeing alimony?
Replies: 113
Views: 11127

Re: Post Nuptial agreement guaranteeing alimony?

I think putting your career on the back burner risks undermining your entire relationship. Frankly, I would have gone ahead and taken the position. If your husband's career is as promising as you guys think it is, his employer would eventually get over it. But if you guys are bound and determined to let his employer set your fates, it certainly shouldn't be for some undefined term. To the extent they expressed discomfort that would have been the perfect segway to a "where do you see my future in this organization and in what time-frame" conversation. What I would not do is wait for some unspecified time for husband's career to take off. It will only cause resentment as you see opportunities pass you by. I see a certain amount of j...
by 2stepsbehind
Wed Jul 26, 2017 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: GF Picking a college major
Replies: 105
Views: 9898

Re: GF Picking a college major

Who is currently paying for her tuition? I don't think dropping out to wait tables is wise, but she might consider taking a leave of absence to teach English abroad and use that time to travel and figure out what she wants to do. She should probably also check out that career services office at the University and take an aptitude test to get an idea of types of professions she might be best suited to. Depending on how her social anxiety manifests itself, nursing could be a nightmare.
by 2stepsbehind
Fri Jun 30, 2017 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving big law for public interest- how to save/allocate 1 year of salary the best way to prep for this
Replies: 10
Views: 2007

Re: Leaving big law for public interest- how to save/allocate 1 year of salary the best way to prep for this

A few thoughts: If you have 90k sitting in savings now, why don't you go ahead and pay off the law school loans now or at the very least the highest interest student loans rather than waiting until January? There's no way you are getting a better interest rate in savings and 45k still leaves you with a decent cushion. I'm assuming the 1k in credit card debt is just what you've spent this month and plan to pay off and not a revolving balance. If it isn't you should go ahead and knock those out as well. Same with the car loans. As others have suggested, you should cut the 529 plan contributions completely and boost (or ideally max out) 401k savings while you are in this high tax bracket. Once you've moved into public interest land you can rol...
by 2stepsbehind
Wed Jun 14, 2017 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Would you take a 25% pay cut for more professional satisfaction?
Replies: 57
Views: 8475

Re: Would you take a 25% pay cut for more professional satisfaction?

I'll put in a yes vote, but caveat that with saying it's heavily industry-dependent so more details may be helpful to providing concrete advice. My wife and I are lawyers, we took a 60%+ paycut to move from private "big law" firms to work for the government. Haven't missed the money or regretted our decision one day since we left. Nor have we changed our spending significantly (which may just go to how overpaid associates in big law are). We obviously have had to cut down on savings, but are still saving a reasonable percentage of income/maxing out tax-advantaged accounts. If the move to a lower paying job won't hurt your long-time retirement plan, or impact your lifestyle to such an extent that it causes you greater unhappiness ...
by 2stepsbehind
Mon Jun 05, 2017 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Heir died before receiving full share due
Replies: 11
Views: 3728

Re: Heir died before receiving full share due

I now have a copy of the deceased heir’s will and had my filipina companion translate. That basically agrees with what I got from Google Translate. The will was dictated by the deceased to his then 15 year old (now 17) son who wrote it in his hand, signed with thumbprints and witnessed by two people. My Google searches show that the requirements for a holographic will are similar to ours. The will does not technically satisfy those requirements it does convey the man’s desires. Its very short addressing the house in one sentence and the money in another. My companion translates the disposition of his money as “The money in the bank belongs to my 3 children”. The children did not know the details of my previous disbursements so I provided t...
by 2stepsbehind
Wed May 31, 2017 6:45 pm
Forum: Personal Investments
Topic: Should I max out wife's 401k
Replies: 26
Views: 2724

Re: Should I max out wife's 401k

No, she should max out her OWN 401k.
by 2stepsbehind
Sun May 28, 2017 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Play Money for Spouse....
Replies: 138
Views: 17490

Re: Play Money for Spouse....

It is delicate to answer this question. Based on this post and on the previous post regarding your daughter providing online access to her college accounts, it seems that your family may think that you are a bit too hovering. The same comment or behavior that you mean to be helpful is possibly being received as that of an over involved spouse/parent. I suspect that your wife has asked you to come up with a number because she does not want to have to justify or even discuss the number for the "allowance" nor the purchases made with it. I think your wife knows you well. I think she wants some breathing room and knows that it might be hard for you. Her suggested approach is designed to get her the space she needs in a way that makes...
by 2stepsbehind
Sun May 21, 2017 11:02 am
Forum: Personal Investments
Topic: My dad is taking Social Security at 62, why would anyone not? (If they already quit working)
Replies: 241
Views: 51582

Re: My dad is taking Social Security at 62, why would anyone not? (If they already quit working)

OP, your father may want to check out the following concerning potential claiming strategies:https://www.onefpa.org/journal/Document ... Shuart.pdf

Curious what people think about this article. In particular "Table 2" would suggest that if a widow(er) only has a $500 worker benefit, but a $2000 widow(er)'s benefit, they should take the worker's benefit for two years and then switch to the widow(er)'s benefit whereas I'm guessing the advice on Bogleheads would be to wait it out until full retirement age. Is there a website that would map out where the break even point is on that?
by 2stepsbehind
Tue May 09, 2017 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Stay home with kids?
Replies: 103
Views: 12238

Re: Stay home with kids?

Guess who will be there to drop her off and pick her up every day?....Me. So, where is the benefit? I have near total autonomy to work from home if I so choose, throughout the entire summer if I wish. So, again, where is the benefit? All I said was that in our situation one of us staying home provides almost no utility once the children are in school. If Researcher can explain how it would, I'd love to hear it. I am quite aware that our situation, the amount of flexibility and autonomy we have with our work and the simplicity of our lives which makes a lot of these stay-at-home responsibilities unnecessary, is not the norm, but it is our situation . Your earlier comments are completely misleading, given this new information you provided. Y...
by 2stepsbehind
Sun May 07, 2017 9:51 pm
Forum: Personal Consumer Issues
Topic: United Mileage Plus CC - worth it?
Replies: 32
Views: 4085

Re: United Mileage Plus CC - worth it?

There are better United offers out there (70k+), but as others suggested make sure United is appropriate for your desired travel plans.
by 2stepsbehind
Sat May 06, 2017 9:20 am
Forum: Personal Consumer Issues
Topic: Southeast Asia for a week, in August first week
Replies: 24
Views: 2185

Re: Southeast Asia for a week, in August first week

Some on your list are not even countries...

If this is your family's first time in Asia/first international foray, I'd ease yourself into it by doing a country with a well developed tourism scene. Given you have provided zero details about your interests, I'd suggest Singapore or Thailand.

ETA: Better yet, I'd task your two college age kids with research and determining which destination to choose. That way the blame falls on them and not bogleheads. :twisted:
by 2stepsbehind
Sat May 06, 2017 3:59 am
Forum: Personal Finance (Not Investing)
Topic: Stay home with kids?
Replies: 103
Views: 12238

Re: Stay home with kids?

I've been in a bit of an existential crisis lately, and I'd like to hear the Bogleheads' thoughts. Some background on our situation: 2 working parents in their late 30s 2 young kids, 1 in full-time preschool and 1 school aged $6MM savings (windfall), $550k/yr income, $250k/yr expenses Parents both highly educated and in specialized work that they enjoy. Both have only been working in the "real world" (aka not grad students) for <6 years. I wonder if it wouldn't make sense for one of us (me) to just quit work and stay home full time with the kids. I feel really conflicted about this because of the amount of time I spent in grad school to be able to do what I do now, and the fact that I'm early in my career, which has been going we...
by 2stepsbehind
Sat May 06, 2017 3:50 am
Forum: Personal Finance (Not Investing)
Topic: Job Decision
Replies: 53
Views: 6114

Re: Job Decision

Thanks for the input. For all questions 1. Communication is not a problem. My business analytical reports were the best (comments from top managers). I admit when I am tired or in a rush, my writing may be sloppy. 2. Higher offer is impossible due to organizational structure. also, let me put this way. They will hire three burger flippers to move files from left to right whole day. They won’t hire a professional even a qualified person will do the whole thing in half day. It is deep in the company culture. Nothing can change. 3. I don’t view MBA highly. I think it is overvalued and a marketing scam. We don’t have to debate this. I got MBA because of my immigrant status and my previous employer paid for it. 4. I took the current job because...
by 2stepsbehind
Fri May 05, 2017 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: New member, new job, please critique plan
Replies: 6
Views: 970

Re: New member, new job, please critique plan

With your sign on bonus 1. Pay off $4000 of credit card that is accruing interest. 2. Pay off Student Loans $4384 @ 6.5% 3. Pay off other student loan debt 4. Boost emergency savings Going forward 1. Pay down the remaining $4000 of CC debt aggressively ($500-1000 a month) 2. Shift these payments to open Roth IRAs/Max out HSA/401k Your student loans aren't low enough that it is worth hanging on to/get rid of it. If you want to buy a new car do it the responsible way and save up for it. Purchasing another vehicle while you have high interest debt is not the way to financial independence/security. Thanks for the input! I should have said, that part of the reason I was going to keep 10k of the signing bonus, was that there is a claw back (retr...
by 2stepsbehind
Fri May 05, 2017 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: Job Decision
Replies: 53
Views: 6114

Re: Job Decision

Take the offer and keep looking for a new job.
by 2stepsbehind
Fri May 05, 2017 7:51 am
Forum: Personal Finance (Not Investing)
Topic: New member, new job, please critique plan
Replies: 6
Views: 970

Re: New member, new job, please critique plan

With your sign on bonus
1. Pay off $4000 of credit card that is accruing interest.
2. Pay off Student Loans $4384 @ 6.5%
3. Pay off other student loan debt
4. Boost emergency savings

Going forward
1. Pay down the remaining $4000 of CC debt aggressively ($500-1000 a month)
2. Shift these payments to open Roth IRAs/Max out HSA/401k

Your student loans aren't low enough that it is worth hanging on to/get rid of it. If you want to buy a new car do it the responsible way and save up for it. Purchasing another vehicle while you have high interest debt is not the way to financial independence/security.
by 2stepsbehind
Sat Apr 01, 2017 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Deleted
Replies: 17
Views: 2195

Re: which state is better to die in / do probate in?

letsgobobby wrote:
Gill wrote:There are only slight differences among states, and when both have no estate tax you really shouldn't give this issue any further thought. It certainly isn't worth attempting to change donicile from one state to another.
Gill
Thanks GIll. Aren't some states notoriously slow and expensive to probate in? As long as we avoid one of those, we'll be satisfied.

From a practical standpoint, it would be better if he changed domicile to the new state, because it is much closer to me and also where my sister lives, so she could take care of some things as well.
Why don't you post which states are involved and if anyone has experience they can then opine?
by 2stepsbehind
Sat Apr 01, 2017 4:26 am
Forum: Personal Finance (Not Investing)
Topic: So someone drained $13k from my checking account...
Replies: 150
Views: 43969

Re: So someone drained $13k from my checking account...

the bank may take the position that the consumer did not take reasonable measures to protect their password, or their computer, and allowed someone else to access their account. This is a good point. Again, the regulation does not give the bank much wiggle room for finding excuses. The commentary to Regulation E states the following: Consumer negligence. Negligence by the consumer cannot be used as the basis for imposing greater liability than is permissible under Regulation E. Thus, consumer behavior that may constitute negligence under state law, such as writing the PIN on a debit card or on a piece of paper kept with the card, does not affect the consumer's liability for unauthorized transfers. (However, refer to comment 2(m)-2 regardin...