Search found 349 matches

by bling
Thu Oct 17, 2019 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: Handling a substantial salary increase - suggestions?
Replies: 24
Views: 2641

Re: Handling a substantial salary increase - suggestions?

you'll get a pretty awesome adrenaline rush the 1st time you get your new paycheck, but it wears off pretty quickly after a couple.

and to reiterate others, control lifestyle creep and increase your savings rate, but you should also splurge from time to time to enjoy your higher income.
by bling
Sun Oct 06, 2019 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?
Replies: 289
Views: 20950

Re: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?

Expenses are higher but are not 2x. The balance goes into savings. Compounded in the market that is a huge incremental wealth driver over time. Expenses and taxes may indeed be 2x higher... I know my house would cost at least 4x higher in San Fran. Taxes are higher too... Yes, food at a grocery sto...
by bling
Sat Oct 05, 2019 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?
Replies: 289
Views: 20950

Re: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?

so, 210k/12 = 17.k per month, vs 288k/12 = 24k per month. 17k - 1.4k = 15.6k remaining 24k - 5k = 19k remaining you are still 3.4k better off every month. We only looked at housing so far. There are many other expenses that are significantly greater in HCOL areas. One very big one noted by many Bay...
by bling
Sat Oct 05, 2019 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?
Replies: 289
Views: 20950

Re: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?

I've known several people who did just what you refer to and got very wealthy (i.e. deca-millionaires). If you earn $300k gross in a LCOL area vs. $500k in a HCOL area, it's almost a slam dunk that the LCOL area will result in greater wealth building potential. 300k in Texas after taxes = 210k 500k...
by bling
Sat Oct 05, 2019 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?
Replies: 289
Views: 20950

Re: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?

I've known several people who did just what you refer to and got very wealthy (i.e. deca-millionaires). If you earn $300k gross in a LCOL area vs. $500k in a HCOL area, it's almost a slam dunk that the LCOL area will result in greater wealth building potential. 300k in Texas after taxes = 210k 500k...
by bling
Fri Oct 04, 2019 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?
Replies: 289
Views: 20950

Re: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?

throughout my life, i've always followed the money and moved to where the opportunities were. this meant moving to HCOL areas for a higher compensation. every single time, after adjusting for costs, in absolute terms i was able to save more. if you're not picky about living arrangements you can real...
by bling
Wed Oct 02, 2019 8:53 pm
Forum: Investing - Theory, News & General
Topic: If all brokerages charged zero commission for trades, which brokerage would you pick?
Replies: 75
Views: 6355

Re: If all brokerages charged zero commission for trades, which brokerage would you pick?

sticking with merrill edge myself. 2.625% minimum, up to 5.25% cash back on credit cards is too good to pass up.
by bling
Wed Aug 14, 2019 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: "Negotiating" Salary
Replies: 74
Views: 5680

Re: "Negotiating" Salary

put me in the camp of stating your expectations up front and don't waste any time. if you don't have much experience, then you have no leverage and should be thankful that anyone took a chance on you. once you have your foot in the door, it's easy to job hop and get that rapid growth in salary until...
by bling
Thu Jun 13, 2019 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Professional work titles
Replies: 30
Views: 2810

Re: Professional work titles

Would you take a pay cut for a title raise?
by bling
Sat May 11, 2019 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Cash - Throw it all on the table!!!
Replies: 181
Views: 30985

Re: Cash - Throw it all on the table!!!

a couple months back i was targeting around $500 in my checkings account. today, i target $10k in cash, because that's the cap for my credit union checkings account where they give me 3% risk free (there's a bunch of hoops to jump, but i can deal). i consider cash part of my bond allocation, so for ...
by bling
Sun May 05, 2019 11:12 am
Forum: Investing - Theory, News & General
Topic: adjusting international in AA, gradual or cold turkey?
Replies: 15
Views: 976

adjusting international in AA, gradual or cold turkey?

i'm one of those people who have a healthy dose of international in my stock allocation. hypothetically speaking, if i wanted lower it substantially, what would be the best course of action? a) do nothing, stay the course. b) all new funds go into my "new" desired AA. c) put all the numbers into my ...
by bling
Sat Apr 20, 2019 10:59 am
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth
Replies: 8
Views: 608

Re: Backdoor Roth

The point of a backdoor is to allow high income individuals to bypass the income restriction and indirectly contribute to a Roth, effectively bypassing the law. It's all still legal, of course, however, morality is subjective, not objective. If it bothers you that you're "cheating" the system, then ...
by bling
Thu Apr 11, 2019 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAcT - PSA on gouging
Replies: 14
Views: 1466

Re: TaxAcT - PSA on gouging

I used taxact for many years until they decided to more than double the price on me in 2017. I switched to taxhawk (same as freetaxusa), and couldn't be happier. For 2018, taxact had a really good promo, something like $5 federal and $10 state. I still used taxhawk even though it was a couple dollar...
by bling
Wed Apr 03, 2019 6:52 am
Forum: Personal Finance (Not Investing)
Topic: "Stop Asking Kids What They Want to Be When They Grow Up"
Replies: 25
Views: 1959

Re: "Stop Asking Kids What They Want to Be When They Grow Up"

Everything in moderation.

You can't enjoy life if you have no money. But you can't enjoy life without time.

The lucky few have fun at work.
by bling
Tue Apr 02, 2019 8:39 pm
Forum: Personal Finance (Not Investing)
Topic: How to get cash quickly
Replies: 102
Views: 7246

Re: How to get cash quickly

Depending on the bank I think you can move that much through zelle over 2 days. I suppose I would not sleep well the middle night. Edit to add or can you zelle to yourself? I don't think so. This is veering off course but if you bargained down there are not multiple people interested. i zelle to my...
by bling
Tue Apr 02, 2019 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: How often do you check your net worth?
Replies: 257
Views: 16226

Re: How often do you check your net worth?

i'm close to daily and also a personal capital user. i also have a spreadsheet that i update monthly. the concerns about security are overblown. yes, you have to give your bank passwords to yodlee and that sounds scary. but 2-factor makes it pretty much impossible for you to be compromised. even if ...
by bling
Thu Mar 21, 2019 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: No drama, no minimum high yield checking accounts?
Replies: 21
Views: 1578

Re: No drama, no minimum high yield checking accounts?

Every debit card swipe is a credit card swipe that didn't happen, and credit card rewards that weren't earned. I wonder why banks and credit unions keep trying to convince consumers to use their debit cards 10+ times a month, especially when the debit cards offer fewer consumer protections. Nothing...
by bling
Thu Mar 21, 2019 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: No drama, no minimum high yield checking accounts?
Replies: 21
Views: 1578

Re: No drama, no minimum high yield checking accounts?

Every debit card swipe is a credit card swipe that didn't happen, and credit card rewards that weren't earned. I wonder why banks and credit unions keep trying to convince consumers to use their debit cards 10+ times a month, especially when the debit cards offer fewer consumer protections. Nothing...
by bling
Thu Mar 21, 2019 6:40 am
Forum: Personal Finance (Not Investing)
Topic: Did I mess up when I did my Backdoor Roth IRA?
Replies: 11
Views: 939

Re: Did I mess up when I did my Backdoor Roth IRA?

Why did you get a 1099-R for your Roth account? If you're doing a backdoor, contributions only go into a traditional.
by bling
Sun Mar 17, 2019 7:57 am
Forum: Personal Finance (Not Investing)
Topic: How many companies have you worked for?
Replies: 125
Views: 7502

Re: How many companies have you worked for?

mid 30s; 5 jobs since college (6 if you include my internship, which is in my field. 8 if you include jobs in my teenage years). in regard to all the comments saying they got all their raises by job hopping, that's not the only way. while i have obviously benefited from job hopping, i've also gotten...
by bling
Sun Mar 17, 2019 7:22 am
Forum: Personal Finance (Not Investing)
Topic: AmEx Blue Cash Everyday Card
Replies: 26
Views: 2135

Re: AmEx Blue Cash Everyday Card

.... lower my FICO score? For many years now it bounces back and forth from 827 to 847. I most definitely do not want it to go below 800 - you have nothing to worry about. anything over 740 will get you the best rates. Yeah, but Not concerned with interest rates for future loans/borrowing. It's my ...
by bling
Sat Mar 16, 2019 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: AmEx Blue Cash Everyday Card
Replies: 26
Views: 2135

Re: AmEx Blue Cash Everyday Card

My concern: Is this going to lower my FICO score? For many years now it bounces back and forth from 827 to 847. I most definitely do not want it to go below 800 - My credit "utilization" factor is well below 10%, more like 6% I think. you have nothing to worry about. anything over 740 will get you ...
by bling
Sun Mar 10, 2019 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7811

Re: Savings Rate

i don't really have a savings rate per se, because my frugal mentality more than makes up for it. when i was single, i easily saved more than half my income because i would always find reasons not to buy stuff. in any case, savings rate is not a good metric. a 20% savings rate mean very different th...
by bling
Thu Mar 07, 2019 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: [2018 tax return - How does it compare to previous years?]
Replies: 441
Views: 34057

Re: [2018 tax return - How does it compare to previous years?]

using 'total tax' / 'agi' (line 18 / line 7) my effective tax came out to be 16% this year. previous years it hovered around 12%, so the new law was not good for me.
by bling
Mon Mar 04, 2019 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Job Offer Negotiation
Replies: 17
Views: 1300

Re: Job Offer Negotiation

Assuming that similar roles in the market pay more, you could make the case. However, IMO it's a bit disengenious to ask for more money when they have already given you a range. Now you just sound greedy. I was planning to back my case up with two things: the in-person interview revealed more respo...
by bling
Mon Mar 04, 2019 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Job Offer Negotiation
Replies: 17
Views: 1300

Re: Job Offer Negotiation

Assuming that similar roles in the market pay more, you could make the case. However, IMO it's a bit disengenious to ask for more money when they have already given you a range. Now you just sound greedy.
by bling
Sun Mar 03, 2019 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Safest way to pay tax due
Replies: 17
Views: 1390

Re: Safest way to pay tax due

Are you filing it online? If so, just let them take it out of your checking/savings account. Too late. I already efiled. I did not feel comfortable giving Taxact my bank account information. May not be rational, but that was my feeling at the moment. so you'll give them your name, SSN, address, inc...
by bling
Sun Mar 03, 2019 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Wow, my paycheck is now at 2015 levels after the "tax cut"
Replies: 19
Views: 3219

Re: Wow, my paycheck is now at 2015 levels after the "tax cut"

New tax law resulted in a a big increase in my tax bill this year, fed and state, as a result of same withholding as last year . Increase in personal exemption in no way offsets value of allowed deductions (now gone) from previous years. When I increase withholding to lower my 2019 tax bill, my tak...
by bling
Sat Mar 02, 2019 5:28 pm
Forum: Investing - Theory, News & General
Topic: Tax-loss harvesting not always a great idea in New Jersey
Replies: 22
Views: 3448

Re: Tax-loss harvesting not always a great idea in New Jersey

What were you doing with the tax money you didn't have to pay during those 3 years? Now imagine instead of 3 years it is 30 years of growth on that money before paying the "same amount of taxes"? This benefit is compounded if you pay a long-term gain in the future, but recoup a short-term/income ga...
by bling
Sat Mar 02, 2019 2:32 pm
Forum: Investing - Theory, News & General
Topic: Tax-loss harvesting not always a great idea in New Jersey
Replies: 22
Views: 3448

Re: Tax-loss harvesting not always a great idea in New Jersey

What were you doing with the tax money you didn't have to pay during those 3 years? Now imagine instead of 3 years it is 30 years of growth on that money before paying the "same amount of taxes"? This benefit is compounded if you pay a long-term gain in the future, but recoup a short-term/income ga...
by bling
Sat Mar 02, 2019 2:00 pm
Forum: Investing - Theory, News & General
Topic: Tax-loss harvesting not always a great idea in New Jersey
Replies: 22
Views: 3448

Re: Tax-loss harvesting not always a great idea in New Jersey

bumping old thread....can someone explain why aiming for $0 makes sense? if the tax rate is the same, you end up with the same amount, no? assuming 15% tax rate: | | asset 1 | asset 2 | |---------------+---------+---------| | year 1 | $10000 | $10000 | | year 2 | $5000 | $15000 | | year 3 | $15000 ...
by bling
Sat Mar 02, 2019 12:21 pm
Forum: Investing - Theory, News & General
Topic: Tax-loss harvesting not always a great idea in New Jersey
Replies: 22
Views: 3448

Re: Tax-loss harvesting not always a great idea in New Jersey

bumping old thread....can someone explain why aiming for $0 makes sense? if the tax rate is the same, you end up with the same amount, no? assuming 15% tax rate: | | asset 1 | asset 2 | |---------------+---------+---------| | year 1 | $10000 | $10000 | | year 2 | $5000 | $15000 | | year 3 | $15000 |...
by bling
Sat Mar 02, 2019 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Tell The Truth to Boss Why I'm Leaving? (More Money)
Replies: 78
Views: 8729

Re: Tell The Truth to Boss Why I'm Leaving? (More Money)

it's a small world. make every effort to build bridges when you're leaving. just be honest and tell them you have a better opportunity. don't ask for a counter offer and don't take it either. if you're feeling particularly bad about taking advantage of them for the sponsorship, offer to pay it back....
by bling
Sat Mar 02, 2019 8:25 am
Forum: Personal Finance (Not Investing)
Topic: How Much in Your Emergency Fund And Is It Used?
Replies: 240
Views: 36718

Re: How Much in Your Emergency Fund And Is It Used?

4-5 years of funds in CDs/cash. You folks who, by choice, have no emergency fund or one that will keep you going for only 8 months or so have never actually experienced an emergency. That's my opinion, from experience. the opportunity cost here is huge. can you imagine just sitting on the sidelines...
by bling
Mon Feb 25, 2019 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: Why Do I Need the 3-6 Month Emergency Fund If I Have That in a Roth IRA?
Replies: 47
Views: 4965

Re: Why Do I Need the 3-6 Month Emergency Fund If I Have That in a Roth IRA?

It never ceases to amaze me how passionate bogleheads are when it comes to emergency funds, or lack there of, yet at the same time will push the need, ability, and willingness to take risk as the universally accepted answer when it comes to stocks vs bonds. This is risk tolerance question and as suc...
by bling
Sat Feb 23, 2019 9:33 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 4103
Views: 773863

Re: What's Your Credit Card Rewards Strategy?

MR are great for domestic travel you just need to go beyond “transfer to delta, book delta flight.” You need to learn to leverage foreign carriers. For example, you can fly on United by transferring to Avianca, Air Canada, or Singapore Airlines. I just booked a domestic United flight for 15,000 Avi...
by bling
Fri Feb 22, 2019 9:22 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 4103
Views: 773863

Re: What's Your Credit Card Rewards Strategy?

after the recent amex gold refresh, i jumped ship and moved all of my food and grocery spend to that card. this is because 4x MR is better than 3x UR, and 4x MR is better than 6% cashback -- now...i'm not so sure. i mostly fly domestic and economy, which makes it difficult to get the most value out...
by bling
Fri Feb 22, 2019 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 4103
Views: 773863

Re: What's Your Credit Card Rewards Strategy?

after the recent amex gold refresh, i jumped ship and moved all of my food and grocery spend to that card. this is because 4x MR is better than 3x UR, and 4x MR is better than 6% cashback -- now...i'm not so sure. i mostly fly domestic and economy, which makes it difficult to get the most value out ...
by bling
Fri Feb 08, 2019 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct problems? Anyone have success with a return which includes "backdoor" Roth reporting?
Replies: 62
Views: 4500

Re: TaxAct problems? Anyone have success with a return which includes "backdoor" Roth reporting?

i'm a past user of taxact, and they sent me a targeted promo for $5 federal, $5 state, so i signed up.

this is definitely not fixed across the board yet.
by bling
Fri Feb 08, 2019 8:43 am
Forum: Personal Investments
Topic: Merrill Edge or Fidelity
Replies: 42
Views: 3467

Re: Merrill Edge or Fidelity

Merrill edge is the overall better package. Free stock trades and because you have over 100k you get a minimum 2.625% cashback on their credit cards, and with the recently refreshed cash rewards card you can get 5.25%.
by bling
Sat Feb 02, 2019 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct problems? Anyone have success with a return which includes "backdoor" Roth reporting?
Replies: 62
Views: 4500

Re: TaxAct problems? Anyone have success with a return which includes "backdoor" Roth reporting?

If TA keeps up with such lousy products and poor service, it will not be around too much longer. It is unfortunate because we need competition for Intuit. i switched to taxhawk.com (same company as freeusatax.com) last year when taxact decided to triple their price. since taxact was already the "bu...
by bling
Sat Feb 02, 2019 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Unpleasant surprise 2018 Federal Tax - high level overview?
Replies: 114
Views: 16751

Re: Unpleasant surprise 2018 Federal Tax - high level overview?

there seems to be an uptick of posts from people saying their taxes went up. i wonder how much of this is because they forgot to update their W4 allowances... i live in a high tax state, and max out all my tax advantaged vehicles, so my allowances were very high pre-2018. i left them alone the first...
by bling
Thu Jan 31, 2019 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: CA homes and new SALT limits
Replies: 48
Views: 5884

Re: CA homes and new SALT limits

yes, SALT is capped at 10k now, but the AMT threshold also increased to 500k/1M (single/married). in the previous law, if you're able to pay so much in SALT (more than the new 24k standard deduction), it also likely means you're paying extra taxes via AMT; not so anymore. for the most part everyone...
by bling
Thu Jan 31, 2019 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: CA homes and new SALT limits
Replies: 48
Views: 5884

Re: CA homes and new SALT limits

yes, SALT is capped at 10k now, but the AMT threshold also increased to 500k/1M (single/married). in the previous law, if you're able to pay so much in SALT (more than the new 24k standard deduction), it also likely means you're paying extra taxes via AMT; not so anymore. for the most part everyone ...
by bling
Sun Jan 27, 2019 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Need Advice - quit 6-figure job to do coding school?
Replies: 118
Views: 9980

Re: Need Advice - quit 6-figure job to do coding school?

250K is not a high income in the Bay Area. for the tech industry that's pretty solidly in the middle of the pack. software engineering is a good career for those who are good at it and have a passion for it. typically these people enter the industry because they love programming and have done it sin...
by bling
Sun Jan 27, 2019 12:18 am
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage in 7 years using HELOC?
Replies: 42
Views: 16359

Re: Pay off mortgage in 7 years using HELOC?

The idea is you use a HELOC to pay off your mortgage and then pay that down by putting all your extra money each month towards it. fixed your OP for you :sharebeer on a more serious note, i also ran the numbers when i discovered this, and it really depends on what your mortgage rate is compared wit...
by bling
Tue Jan 15, 2019 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: A co-worker makes more than me
Replies: 77
Views: 7087

Re: A co-worker makes more than me

Talk to your manager about the value you're bringing to the firm, and that your great performance warrants a promotion and/or raise. Don't mention your coworker, it's not relevant. Meanwhile you should also be interviewing elsewhere to know for real what your current market value is. The new company...
by bling
Sat Jan 12, 2019 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Salary Question During Job Interview
Replies: 17
Views: 2480

Re: Salary Question During Job Interview

it depends on how much you're currently making compared to the market value (which you should know). if you're on the lower end, it doesn't make sense to talk money since you don't really have any leverage. if you're on the upper end of the spectrum, you can be aggressive and on the 1st conversation...