Search found 376 matches

by mac808
Sun Jun 25, 2017 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: irrevocable trust for children receiving an inheritance
Replies: 35
Views: 1223

Re: irrevocable trust for children receiving an inheritance

I believe that if all parties agree, you can change the terms of the trust and might be able to avoid creating a new trust.
by mac808
Sun Jun 25, 2017 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Mediator for ownership division of primary home
Replies: 46
Views: 1374

Re: Mediator for ownership division of primary home

OP I've been in a very similar situation. You need to go with your mom and find out what exactly the legal position on ownership is. Per one of your earlier posts, she believes the law would back her up regarding 80/20 ownership. Well, find out for sure. If the law backs up 80/20, then your mom has ...
by mac808
Sat Jun 24, 2017 7:35 am
Forum: Personal Finance (Not Investing)
Topic: Can we/should we afford a $2M house?
Replies: 41
Views: 4442

Re: Can we/should we afford a $2M house?

My opinion is that these cases come down to stability of jobs and income. Are you a vascular surgeon, or a biglaw attorney, or a senior engineer at a tech company with generous RSUs? Ditto for your wife - assume she will want to quit working when kids are little - how easily can she take 5-8 years o...
by mac808
Fri Jun 23, 2017 9:35 pm
Forum: Personal Consumer Issues
Topic: Bitcoin in the event of owner death
Replies: 9
Views: 957

Re: Bitcoin in the event of owner death

There is no good solution to this problem. Anyone to whom you entrust the key could take the money. You can use a safe deposit box or similar to increase the security of a printed key but it's not perfect. If you use an online service, all an attacker needs to compromise is your first and second fac...
by mac808
Thu Jun 15, 2017 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Curious to odd estate question
Replies: 88
Views: 4745

Re: Curious to odd estate question

Despite all the Bitcoin hype lately this seems to be an effective use case for it. You can use a Bitcoin account to store all value while you're alive (and save/spend as needed). If you keep your password in your head and never write it down, then the moment you die, it's gone forever.
by mac808
Tue Jun 13, 2017 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Who takes financial chances and why is this forum so financially conservative?
Replies: 139
Views: 11852

Re: Who takes financial chances and why is this forum so financially conservative?

To me, if you have a "fear of missing out," you just don't get it. Adjust your lifestyle and expectations, be happy with what you have and keep everything in balance. Once you reach a certain point, you don't have to spend a lot of additional money to life a satisfying and fulfilling life...
by mac808
Sun Jun 11, 2017 12:06 pm
Forum: Investing - Theory, News & General
Topic: Bitcoin: The worst investment in 2014
Replies: 83
Views: 10699

Re: Bitcoin: The worst investment in 2014

I had a debate about this with my sister (recent bandwagon joiner) last night. I pointed out that there were important reasons that modern society moved away from bearer assets (not just anti-money laundering). I suspect some Bitcoin investors will re-learn those painful lessons.
by mac808
Sat Jun 10, 2017 6:00 am
Forum: Investing - Theory, News & General
Topic: "Here's why bonds still belong in your portfolio."
Replies: 8
Views: 2172

Re: "Here's why bonds still belong in your portfolio."

I'll confess when risk-free FDIC accounts are paying 1.25% and 3 year CDs are paying 2% I've had a hard time understanding the value of certain shorter and medium term bond funds.
by mac808
Thu Jun 08, 2017 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: How to deal with a personal finance cynic
Replies: 109
Views: 5811

Re: How to deal with a personal finance cynic

One of my dad's favorite sayings: "Whether you think you can or you think you can't, you're probably right."
by mac808
Thu Jun 08, 2017 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Married filing separately vs staying single for tax savings
Replies: 31
Views: 2343

Re: Married filing separately vs staying single for tax savings

If you don't get married but do have the ceremony, do not travel to Texas together as a couple until the 4.5 years is past. Common law marriage is very easy to trigger in Texas, even for a brief stopover. This sounds a little extreme to me. Does anyone know of any instances of a "married coupl...
by mac808
Thu Jun 08, 2017 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Any tips on creating a budget for a SAHM ?
Replies: 24
Views: 1774

Re: Any tips on creating a budget for a SAHM ?

Why not create one account for common expenses (kids, food, housing), and two smaller (equal) accounts for personal expenses? Seems like it's fair that you would each spend the same amount on clothes and personal items.
by mac808
Tue Jun 06, 2017 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: I'm considering buying a house in the $800k range.. can I?
Replies: 67
Views: 6061

Re: I'm considering buying a house in the $800k range.. can I?

I'm really curious how a 29 year old has a work at home job that pays upwards of $360k a year. Looking back at past posts, he was making about $100k two and a half years ago, so he has done well in performance over the last couple years. Understanding how likely his income will continue at this lev...
by mac808
Tue Jun 06, 2017 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Chicago Real Estate
Replies: 24
Views: 2419

Re: Chicago Real Estate

I've spent a lot of time studying the numbers in Illinois in connection with some municipal bond projects. I don't think the State will BK but it will get REAL close and (in order to avoid that scenario) all taxes will be going up significantly - income and property taxes especially. Both are likely...
by mac808
Tue Jun 06, 2017 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Anti virus protection
Replies: 27
Views: 2054

Re: Anti virus protection

Another recommendation here for Avast anti virus, it's free and excellent. Since Microsoft has taken Windows 10 more in the direction of tracking user data/profiles and becoming an ad platform, I don't trust them as much (mixed incentives), and would use one of the free alternatives to Defender no m...
by mac808
Tue Jun 06, 2017 5:10 am
Forum: Investing - Help with Personal Investments
Topic: High Income Earner Humbly Seeks Advice
Replies: 73
Views: 9302

Re: High Income Earner Humbly Seeks Advice

Cutterinnj- what about advertising? Like livesoft said- flyers? Say you run an HVAC company and send out information to customers, TV ads, business cards, etc. that would easily costs you $5k. Accountant said if asked it needs to be a reasonable fee for work. LongTerm -- Just a real world reality c...
by mac808
Sun Jun 04, 2017 7:39 pm
Forum: Investing - Help with Personal Investments
Topic: High Income Earner Humbly Seeks Advice
Replies: 73
Views: 9302

Re: High Income Earner Humbly Seeks Advice

I'm assuming you are a nsx taking lots of trauma call and working around the clock. This goes without saying but make sure you have great malpractice coverage, as even post tort reform in Texas I've heard of some frightening cases. Disability also. Investing efficiently is great, but you need to do ...
by mac808
Sun May 21, 2017 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Watching elderly family members burn money
Replies: 17
Views: 2631

Re: Watching elderly family members burn money

I agree that auctions can be expensive but even so, are often better than rooms full of stuff left behind for kids to deal with. That said, if grandma prevented her daughter from taking a <$100 painting that held sentimental value then there are clearly psychological more so than financial issues in...
by mac808
Tue May 16, 2017 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone else agree with my logic on silicon valley housing?
Replies: 84
Views: 7191

Re: Anyone else agree with my logic on silicon valley housing?

Silicon Valley is full of couples who make $300k to $500k each for household income of $600k to a million. It's nirvana for these people because of the abundance of well paid tech HQ jobs. @ $250k/year, as others have mentioned here, you're better off moving somewhere else (maybe Austin, maybe elsew...
by mac808
Tue May 16, 2017 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Retirees afraid to spend? (Bloomberg)
Replies: 47
Views: 2651

Re: Retirees are hoarding cash

Wouldn't the 2009 financial crisis be expected to create another mini generation of "depression era" folks?
by mac808
Sat May 13, 2017 11:02 am
Forum: Investing - Help with Personal Investments
Topic: I'm hoping I didn't quit too soon
Replies: 8
Views: 2645

Re: I'm hoping I didn't quit too soon

Is that 40k pulled from IRAs pre-tax or after-tax? Have you given thought to what your marginal tax rate will be in retirement?
by mac808
Fri May 12, 2017 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Will I ever have enough for a condo/house in Cali?
Replies: 42
Views: 3228

Re: Will I ever have enough for a condo/house in Cali?

California is not a comfortable place for those who make $60k and don't own a (mortgage free) home. Living at home is very smart. You should laser-focus on getting income up, and forget about buying a home (for now). What do you do for work? You might be underpaid as is.
by mac808
Mon May 08, 2017 10:53 pm
Forum: Investing - Theory, News & General
Topic: If everybody indexed, the only word you could use is chaos, catastrophe
Replies: 66
Views: 8086

Re: If everybody indexed, the only word you could use is chaos, catastrophe

It seems intuitive that if there are fewer price setters in the market then we could see more short-term price volatility, but if you buy and hold for the long haul, then how much does short-term volatility matter?
by mac808
Mon May 08, 2017 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Remarried parent wants to leave house in trust to children. Implications?
Replies: 8
Views: 1390

Re: Remarried parent wants to leave house in trust to children. Implications?

You should talk to a lawyer. As the other poster mentioned, Bruce Steiner is excellent. Part of the house's value may be community property, depending on how long your friend has been married, and the value of the house at time of marriage versus now. In which case, you would most likely need to get...
by mac808
Fri May 05, 2017 1:18 pm
Forum: Investing - Theory, News & General
Topic: Buffett/IBM
Replies: 73
Views: 6166

Re: Buffett/IBM

Almost every technology company is one great CEO and management team away from a renaissance, or one poor CEO and management team away from irrelevance.
by mac808
Thu May 04, 2017 2:52 pm
Forum: Investing - Help with Personal Investments
Topic: Is there a limit on the number of times an Inherited IRA can be passed down?
Replies: 3
Views: 750

Re: Is there a limit on the number of times an Inherited IRA can be passed down?

I'm interested in the ability to leave an IRA to a trust for a group of very young beneficiaries (grandchildren). From what I've read, it seems like the RMD schedule is based on the age of the eldest beneficiary. As newly-born grandchildren are added to the mix, I assume they would just receive thei...
by mac808
Mon May 01, 2017 12:55 am
Forum: Local Chapters and Bogleheads Community
Topic: John Bogle's Legacy!
Replies: 19
Views: 3039

Re: John Bogle Will Pass Away Someday.

I watched the video tour of Mr Bogle's office the other day and it occurred to me that he has created a great, well-run, principled company (the embodiment of many of his personal values) that will outlast him for decades, perhaps centuries. I've worked for many founders of companies (a few multi-bi...
by mac808
Mon Apr 24, 2017 2:21 pm
Forum: Investing - Theory, News & General
Topic: Reasons to Hold Corporate Bonds vs. Munis, given equal after-tax yield?
Replies: 7
Views: 787

Re: Reasons to Hold Corporate Bonds vs. Munis, given equal after-tax yield?

When confronted with questions like this I think back to "diversification is the only free lunch". I would divide dollars between the two, with an eye to correlated risk exposure that the rest of your portfolio might share with each type.
by mac808
Sun Apr 23, 2017 5:09 pm
Forum: Personal Consumer Issues
Topic: If you are financially independent, how much monywould you bother to make?
Replies: 31
Views: 3744

Re: If you are financially independent, how much monywould you bother to make?

I do 1-2 promos a quarter, more out of curiosity and a desire to remain "street smart" and connected to what's going on in the consumer credit, banking, and loyalty markets, than any meaningful financial upside. If you enjoy it, then I'd do it; if not, then I wouldn't.
by mac808
Sun Apr 23, 2017 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Helping adult children
Replies: 81
Views: 8432

Re: Helping adult children

It sounds like your sons are both mature and well-adjusted (congrats), so I would be as transparent as possible with them. If someone has an issue, let them raise it, make their arguments, and propose a solution. I think it's reasonable to "true up" son #2 who might not need as much help, ...
by mac808
Thu Apr 20, 2017 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford to purchase this new house?
Replies: 13
Views: 1408

Re: Can we afford to purchase this new house?

How stable is your income? Whenever I read these threads I always think there's a world of difference between someone in health care versus sales, etc. Stability of career and income seems increasingly important these days.
by mac808
Tue Apr 18, 2017 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford private school for my kids?
Replies: 67
Views: 5365

Re: Can I afford private school for my kids?

I don't know how student/teacher ratios translate into classroom sizes, but your kids are very unlikely to learn anything at all in a class with >20 students.
by mac808
Sun Apr 16, 2017 8:45 am
Forum: Personal Finance (Not Investing)
Topic: My kids don't care about saving
Replies: 114
Views: 11671

Re: My kids don't care about saving

Have you given them books to read like the bogleheads guide, the millionaire next door, and your money or your life? May be helpful if they hear the message from a more objective source.
by mac808
Wed Apr 12, 2017 9:52 am
Forum: Personal Finance (Not Investing)
Topic: NY Free College for household AGI less than $125k
Replies: 3
Views: 454

Re: NY Free College for household AGI less than $125k

In a completely apolitical voice I would tell you to get ready for a lot more of this coming down the pipe from Government at all levels. There are likely a great many means-testing type programs headed our way. It's actionable in the sense that you can plan accordingly, either reducing your retirem...
by mac808
Wed Apr 12, 2017 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Legality of renters posting reviews of a condominium complex?
Replies: 82
Views: 3796

Re: Legality of renters posting reviews of a condominium complex?

But assuming that's not the case and these are just disgruntled tenants, what law do you think would prevent them from posting their opinions to website intended for that very purpose? The issue is they are not owners, just renters. A condominium serves it's owners , not renters. So I am confused w...
by mac808
Wed Apr 12, 2017 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Legality of renters posting reviews of a condominium complex?
Replies: 82
Views: 3796

Re: Legality of renters posting reviews of a condominium complex?

If the reviews are provably untrue and malicious in nature (intended to cause damage), then perhaps there could be a potential fraud or libel claim. But assuming that's not the case and these are just disgruntled tenants, what law do you think would prevent them from posting their opinions to websit...
by mac808
Tue Apr 11, 2017 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on Healthcare Sharing?
Replies: 17
Views: 1141

Re: Thoughts on Healthcare Sharing?

I self-insure up to a certain high dollar amount, at which point a catastrophic insurance plan kicks in. I signed up with a healthcare sharing ministry to avoid the ACA penalties, since the ACA doesn't recognize self-insurance. I've never filed a claim but it's less than $100/month and I enjoy readi...
by mac808
Sat Feb 18, 2017 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice on girlfriend debt/finances
Replies: 82
Views: 7908

Re: Need advice on girlfriend debt/finances

Are you comfortable taking care of her financially for the rest of her life? Because that is likely what will happen. She will work less, not more, once you're married and have kids. As far as specific debts, no, I wouldn't pay off any of her debts. I know it's annoying to see that car loan at 7% bu...
by mac808
Fri Feb 17, 2017 11:22 am
Forum: Personal Consumer Issues
Topic: The russians are hacking me
Replies: 36
Views: 6009

Re: The russians are hacking me

Password managers roughly fall into two categories - those which store your master password on their servers, and those which don't. I only recommend the latter. The downside is that if you forget your master password, your account is gone forever (no 'forgot password' reset). But the upside is that...
by mac808
Thu Jan 26, 2017 10:28 am
Forum: Local Chapters and Bogleheads Community
Topic: HAPPY 93RD BIRTHDAY, TAYLOR!
Replies: 199
Views: 9376

Re: HAPPY 93RD BIRTHDAY, TAYLOR!

Happy Birthday! :sharebeer Some day I aspire to pack 1/2 as much wisdom per word as you seem to in your posts.
by mac808
Mon Jan 23, 2017 1:59 pm
Forum: Investing - Help with Personal Investments
Topic: Reflecting the value of pre-IPO shares in Net Worth
Replies: 21
Views: 1644

Re: Reflecting the value of pre-IPO shares in Net Worth

Well known pre-IPO tech companies (Pinterest, Airbnb, Uber, Palantir, etc) have active and liquid secondary markets for common stock. You can search for secondary brokers and find some pretty easily as they tend to do lots of self-promotion to drum up business. In the case of the investment, you cou...
by mac808
Sat Jan 21, 2017 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: When/If a degree is useful for software developers?
Replies: 45
Views: 3477

Re: When/If a degree is useful for software developers?

Consider this -- No one on this forum would even think about going to a 'doctor' that never went to med school or graduated with a MD or DO degree. But hiring your local Starbucks barista who dropped out of high school to be your lead software developer at your company is somehow perfectly acceptab...
by mac808
Fri Jan 20, 2017 9:41 pm
Forum: Personal Finance (Not Investing)
Topic: Medical Billing Disagreement - Stark Law
Replies: 95
Views: 6019

Re: Medical Billing Disagreement - Stark Law

Derm offices are very sensitive to feedback on public review sites like Realself, Yelp, and Google. If you really felt you had a bad experience then write out a well reasoned, polite but detailed 1 or 2 star review on a few of those sites. If the practice has any meaningful cosmetic volume it will e...
by mac808
Fri Jan 20, 2017 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: When/If a degree is useful for software developers?
Replies: 45
Views: 3477

Re: When/If a degree is useful for software developers?

I've hired close to a hundred software developers over the last ten years. A degree from a top school (MIT, Stanford, or close equivalent) will get you interviews at the top companies and is likely worth the $ and time spent, but other than that, CS degrees aren't worth much for routine web/software...
by mac808
Thu Jan 19, 2017 2:52 am
Forum: Investing - Help with Personal Investments
Topic: Mother handing over investments to me, not sure which route to go
Replies: 12
Views: 1693

Re: Mother handing over investments to me, not sure which route to go

What's her/your basis in the farmland? Seems like this is a situation to optimize for taxes more so than anything else. As far as AA once the farmland is liquidated, I'd personally go something like 1/3 stocks, 1/3 bonds, and 1/3 CDs.
by mac808
Wed Jan 18, 2017 5:40 am
Forum: Personal Consumer Issues
Topic: Rental car--new windshield crack
Replies: 14
Views: 2475

Re: Rental car--new windshield crack

What credit card did you use to pay for the reservation? You'd be surprised how many include coverage for rental car damage in their fine-print benefits.
by mac808
Tue Jan 17, 2017 6:06 pm
Forum: Investing - Theory, News & General
Topic: Junior and Senior Financial Independence
Replies: 35
Views: 2099

Re: Junior and Senior Financial Independence

In other words - a 5% and 2% SWR.
by mac808
Mon Jan 16, 2017 12:27 pm
Forum: Investing - Theory, News & General
Topic: "Millennials may need to double how much they save for retirement"
Replies: 173
Views: 18274

Re: "Millennials may need to double how much they save for retirement"

From over here in Europe, it's really interesting to see the developments over there in the US. Once upon a time, Europe was the class-based society and America was the rags-to-riches country. Nowadays it's incredibly important in the US who your parents are; much more so than in Europe. And the tr...
by mac808
Sun Jan 15, 2017 2:55 pm
Forum: Investing - Theory, News & General
Topic: "Millennials may need to double how much they save for retirement"
Replies: 173
Views: 18274

Re: "Millennials may need to double how much they save for retirement"

It's hard to imagine an equivalent generational market trend that would distribute as much wealth into the pockets of millennials, but I admit it's possible. Maybe millennials will inherit more from their parents than the previous generation? Yes, I think they will, and I think it will become an in...
by mac808
Sun Jan 15, 2017 2:46 pm
Forum: Investing - Theory, News & General
Topic: "Millennials may need to double how much they save for retirement"
Replies: 173
Views: 18274

Re: "Millennials may need to double how much they save for retirement"

I would ilke to see a report from millennials on their parents who are retired or retiring now. I'd like to see millennials ask their parents how much they saved and invested every year so that they could reach this stage of their lives "retired" or "retiring now." I will bet th...
by mac808
Fri Jan 13, 2017 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: Options for parents' Social Security
Replies: 21
Views: 1866

Re: Options for parents' Social Security

Thanks so much for the info guys. Much appreciated.

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