Search found 561 matches

by Wricha
Sun May 24, 2020 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 1002
Views: 103913

Re: Why are you NOT buying rental properties?

Reits and being in the real estate business are not synonymous. You can develop real estate you can also change the nature of the property by making improvements, pull cash out for other opportunities, control expenses. These are things that are not generally available to reits Investors (they get t...
by Wricha
Sun May 24, 2020 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Worried about sibling financial future
Replies: 31
Views: 3946

Re: Worried about sibling financial future

Maybe some BHs have similar situation.... I have one older sibling, early 40s, married 20+ years. Still lives in same small-ish town we grew up in. Honestly, I am not really close to this sibling. Only communication would be during the holidays, or maybe the occasional happy birthday text. I apolog...
by Wricha
Sun May 24, 2020 12:23 pm
Forum: Personal Consumer Issues
Topic: If Jeep has such poor reliability, how come they are everywhere?
Replies: 154
Views: 11189

Re: If Jeep has such poor reliability, how come they are everywhere?

I have had 5 Jeep 4 door wranglers in the past 10 years. I used it 3-6 months in Fl during the winter. I trade it every other year with between 7,500 -15,000 miles and get a new Jeep for $5k or $2,500/year. I can’t say they are reliable as I get new one but they do hold their value. No new tires som...
by Wricha
Sun May 24, 2020 6:12 am
Forum: Personal Consumer Issues
Topic: Warning: Virginia State Inspection
Replies: 38
Views: 3731

Re: Warning: Virginia State Inspection

Folks, Be very careful as to where you bring your older car for Virginia State Inspection. If the car mechanic rejects your car inspection and put in all kind of stuff that you need to fix, you have to fix it. You cannot bring your car to some other places and reinspect without fixing the problems....
by Wricha
Wed May 20, 2020 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: At 30, what are some key financial milestones I should have hit?
Replies: 51
Views: 4298

Re: At 30, what are some key financial milestones I should have hit?

Broad brush stuff. In 30’s Make sure you match any employer contributions Become free of CC debt, school loans, car payments and only have Mortgage. In 40’s Pay off all debt/Mortgage Max out 401k options Open taxable account save at least 10% In 50’s Live the lifestyle of your 40’s and save/invest u...
by Wricha
Tue May 19, 2020 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking of buying a boat during pandemic – am I CRAZY?
Replies: 80
Views: 5334

Re: Thinking of buying a boat during pandemic – am I CRAZY?

$65k for a boat is a relatively modest expense given your income. How big is the lake overnight trips? I would bet 2 houses and boat with kids will be a tight budget on $200k I might rethink that budget a bit.
by Wricha
Sun May 17, 2020 7:21 am
Forum: Personal Finance (Not Investing)
Topic: Mountain cabin?
Replies: 24
Views: 3758

Re: Mountain cabin?

When you talk about fixing up, how much do you plan to put into fixing up? If you “fix up” cabin do you plan on letting the house fall in disrepair? So you need to plan for removal cost of the house. Without seeing the place I would lean toward fixing up house as it might be more valued in the futur...
by Wricha
Sun May 10, 2020 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Setting up wife after devorce
Replies: 45
Views: 5903

Re: Setting up wife after devorce

If I were in your position. I “might” find 2 or 3 financial advisors (hourly). Let her pick one and you are done. The sooner your out the better for both of you.
by Wricha
Sat May 09, 2020 3:58 pm
Forum: Personal Investments
Topic: Buying second home
Replies: 20
Views: 2435

Re: Buying second home

What people are suggesting about selling your house and buying a home in the mountains is reasonable. I was in a similar situation for 11 years. My parents were in a retirement community until Mom died at 90 and Dad died at 98. I would fly in or drive depending where I was at least twice a month som...
by Wricha
Fri May 08, 2020 9:39 pm
Forum: Personal Investments
Topic: Vanguard to Charles Schwab
Replies: 18
Views: 2067

Re: Vanguard to Charles Schwab

AFN wrote:
Fri May 08, 2020 4:06 pm
student wrote:
Fri May 08, 2020 9:52 am
Get someone to refer you so that you can get a bonus. https://www.schwab.com/public/schwab/nn ... spect.html
Good idea, thank you!
I moved from Vanguard to Schwab and FWIW I am pleased much better service. I also got $2500 for moving my account.
by Wricha
Sun May 03, 2020 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Working with commercial landlord during this mess??
Replies: 8
Views: 922

Re: Working with commercial landlord during this mess??

I have/own a fair amount of commercial real estate. Depending on you state, they may favor the renter (you need an attorney). You should sit down and have a conversation with landlord and get some deferred rent arrangement. He would be a fool not to work with you, as the courts are not going to look...
by Wricha
Sun Apr 26, 2020 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Payoff house and quit good-paying job?
Replies: 112
Views: 8076

Re: Payoff house and quit good-paying job?

Not to pile on or make you feel bad. Let me, Succinctly rewrite your post and ask you a question.

I am, 30 married with a toddler and I want to join the circus. Does this sound dorky and immature?
by Wricha
Sat Apr 25, 2020 11:19 am
Forum: Personal Investments
Topic: Rethinking annuities with a strong portfolio
Replies: 30
Views: 1363

Re: Rethinking annuities with a strong portfolio

Now fully into retirement (mid 60’s) and with this Covid situation I really feel retired (not good or bad just retired). I built what I thought was almost a bulletproof portfolio. (34% SPY 33% muni/treasury/CD and 33% commercial real estate) plus a small pension. Planning on SS at 70 (have not fact...
by Wricha
Sat Apr 25, 2020 9:36 am
Forum: Personal Investments
Topic: Rethinking annuities with a strong portfolio
Replies: 30
Views: 1363

Re: Rethinking annuities with a strong portfolio

Congratulations on earning that strong portfolio and having a sound strategy. 1 Do nothing. Feeling as if you have to “do something” might pass. 2 Consider possible 1031 Exchanges to residential multi unit income property as it is normally less volatile in economic downturns. How dependent are you ...
by Wricha
Fri Apr 24, 2020 8:23 pm
Forum: Personal Investments
Topic: Rethinking annuities with a strong portfolio
Replies: 30
Views: 1363

Re: Rethinking annuities with a strong portfolio

Thanks Megabad and jjface
by Wricha
Fri Apr 24, 2020 7:56 pm
Forum: Personal Investments
Topic: Rethinking annuities with a strong portfolio
Replies: 30
Views: 1363

Re: Rethinking annuities with a strong portfolio

Can you clarify “annuities”? The vast majority of annuities range from useless to complete ripoffs. There are a tiny fraction that are moderately useful in limited capacities for limited numbers of people. Any annuity that someone volunteers to sell you is likely complete junk. I was thinking singl...
by Wricha
Fri Apr 24, 2020 7:55 pm
Forum: Personal Investments
Topic: Rethinking annuities with a strong portfolio
Replies: 30
Views: 1363

Re: Rethinking annuities with a strong portfolio

Now fully into retirement (mid 60’s) and with this Covid situation I really feel retired (not good or bad just retired). I built what I thought was almost a bulletproof portfolio. (34% SPY 33% muni/treasury/CD and 33% commercial real estate) plus a small pension. Planning on SS at 70 (have not fact...
by Wricha
Fri Apr 24, 2020 7:40 pm
Forum: Personal Investments
Topic: Rethinking annuities with a strong portfolio
Replies: 30
Views: 1363

Rethinking annuities with a strong portfolio

Now fully into retirement (mid 60’s) and with this Covid situation I really feel retired (not good or bad just retired). I built what I thought was almost a bulletproof portfolio. (34% SPY 33% muni/treasury/CD and 33% commercial real estate) plus a small pension. Planning on SS at 70 (have not facto...
by Wricha
Thu Apr 23, 2020 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: Expert Consultant: $110 / hr??
Replies: 70
Views: 6433

Re: Expert Consultant: $110 / hr??

I am not sure, is this a one time deal? If this is a one time deal an hourly rate seems silly. One time deal, nothing less than $1k and if it’s a continuous assignment $110/hr is not going to make you very much. The more you charge, the likelihood that they play attention is far greater. Of course y...
by Wricha
Mon Apr 13, 2020 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Just how easy is owning real estate if you have a property manager? (super easy, or just “less hard”)?
Replies: 51
Views: 4584

Re: Just how easy is owning real estate if you have a property manager? (super easy, or just “less hard”)?

The idea that a REIT’s = being an Real estate owner/developer/landlord is not true. As someone who buys shares in a REIT you are more like a bank without the control/authority.
by Wricha
Sat Apr 11, 2020 7:06 pm
Forum: Personal Investments
Topic: How much cash is too much cash?
Replies: 73
Views: 8947

Re: How much cash is too much cash?

Given your age and your jobs seem somewhat secure I would invest in the market. 12 month EF should be plenty. What is your current asset allocation? More money in an EF is going to do little to improve your long term financial success. Not counting the cash in the EF it is 75/25. I think we will be...
by Wricha
Sat Apr 11, 2020 5:58 pm
Forum: Personal Investments
Topic: Ponzi Scheme?
Replies: 215
Views: 17348

Re: Ponzi Scheme?

If you want to know for certain and I am convinced it’s a scam. Ask this “money guy” if he would consider taking $1m from a friend of yours who is not a member of this tight knit community. See how quickly he will make that exception.
by Wricha
Sat Apr 11, 2020 5:45 pm
Forum: Personal Investments
Topic: How much cash is too much cash?
Replies: 73
Views: 8947

Re: How much cash is too much cash?

Given your age and your jobs seem somewhat secure I would invest in the market. 12 month EF should be plenty. What is your current asset allocation? More money in an EF is going to do little to improve your long term financial success. Not counting the cash in the EF it is 75/25. I think we will be...
by Wricha
Sat Apr 11, 2020 3:17 pm
Forum: Personal Investments
Topic: How much cash is too much cash?
Replies: 73
Views: 8947

Re: How much cash is too much cash?

Given your age and your jobs seem somewhat secure I would invest in the market. 12 month EF should be plenty. What is your current asset allocation? More money in an EF is going to do little to improve your long term financial success.
by Wricha
Tue Apr 07, 2020 2:20 pm
Forum: Investing - Theory, News & General
Topic: What percentage of your paycheck do you invest?
Replies: 268
Views: 16347

Re: What percentage of your paycheck do you invest?

OP, you are fine. 15% is an excellent start. I think the key is when your pay/income increases don’t let your lifestyle increase proportionally. I probably had a negative net worth at 35 and a savings rate close to zero. By the time I retired (late 50’s) my saving rate was probably 90%. I am vey com...
by Wricha
Sat Apr 04, 2020 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Help for Landlords in the Stimulus Bills?
Replies: 198
Views: 13403

Re: Help for Landlords in the Stimulus Bills?

The tax code has all kinds of goodies for landlords and capital gains. We can’t get into why or whether it’s good/bad but it’s reality. The tax code may have all kinds of goodies for some landlords, but I’d bet that for many Boglehead landlords, other then the step-up in basis they’ll give to their...
by Wricha
Fri Apr 03, 2020 7:35 am
Forum: Personal Finance (Not Investing)
Topic: Can I un-file my 2019 taxes in order to get a bigger stimulus check based on my 2018?
Replies: 30
Views: 2880

Re: Can I un-file my 2019 taxes in order to get a bigger stimulus check based on my 2018?

I mean he could contribute to a 2019 HSA or TIRA and amend, if he didn't do that already. Or recharacterize a 2019 Roth contribution to TIRA since he's probably under the income limit. If none of those work, then he should think about 2020 and whether this year's income could be lowered to capture ...
by Wricha
Tue Mar 31, 2020 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: Help for Landlords in the Stimulus Bills?
Replies: 198
Views: 13403

Re: Help for Landlords in the Stimulus Bills?

A great opportunity for my tenant to build up his emergency fund, wouldn’t you say? Why would I want to throw a wrench into that? Highly unlikely they'll do so (or if they do, keep it) That 75" TV is an emergency. What makes you think they'll suddenly become fiscally responsible by giving them "fre...
by Wricha
Sat Mar 28, 2020 11:31 am
Forum: Personal Finance (Not Investing)
Topic: How are you going to use your stimulus money?
Replies: 222
Views: 12680

Re: How are you going to use your stimulus money?

260chrisb wrote:
Fri Mar 27, 2020 6:49 pm
Down payment on a 2020 Porsche 911S Turbo. :D
Finally something reasonable
by Wricha
Wed Mar 25, 2020 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Buy house with coronavirus uncertainty?
Replies: 15
Views: 1975

Re: Buy house with coronavirus uncertainty?

Bought and sold a house in the past 8 days. I am very fortunate to have cash, to buying a house and not yet sold my house. Closed on my house yesterday. With the market volatility of past couple of weeks I must admit it was a bit unsettling. I thought the buyer for my house would back out (he did no...
by Wricha
Mon Mar 09, 2020 4:08 pm
Forum: Personal Consumer Issues
Topic: Why I should cancel our trip to Tokyo next month.
Replies: 26
Views: 2198

Re: Why I should cancel our trip to Tokyo next month.

I think you will be fine. Next question: Is this the most responsible thing I can do, given the current situation? Might require looking beyond your personal needs. Can’t answer that one.
by Wricha
Sat Feb 29, 2020 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Medicare vs IRMAA vs health care coverage
Replies: 37
Views: 2018

Re: Medicare vs IRMAA vs health care coverage

If a Medicare beneficiary has the income to be subject to IRMAA, then he certainly has the ability to pay IRMAA. So if a person has income more than you they should pay more for a “benefit” ? Given that they more than likely paid more than you during their entire working career for Medicare. Just t...
by Wricha
Wed Feb 26, 2020 7:52 pm
Forum: Personal Consumer Issues
Topic: bought a used laptop on eBay at great price but feel guilty
Replies: 38
Views: 4291

Re: bought a used laptop on eBay at great price but feel guilty

Sounding like Warren Buffet I wish I could pay my fair share of taxes. Strike another check it’s easy.
by Wricha
Mon Feb 24, 2020 6:15 pm
Forum: Personal Consumer Issues
Topic: Do you ever use cash?
Replies: 228
Views: 13448

Re: Do you ever use cash?

I keep a few hundred in 20s in the house. Other than that I put $20 a day in my wallet. I either use it for lunch or a cup of coffee. The change from that $20 goes into a jar at the end of the day. I either invest it quarterly or put it towards our vacation fund. Funny how much it adds up to after ...
by Wricha
Mon Feb 24, 2020 6:47 am
Forum: Personal Consumer Issues
Topic: How often do you need new car tires?
Replies: 50
Views: 4037

Re: How often do you need new car tires?

Live outside of Asheville, NC the road are very curvy and steep. Rarely does one get over 15k miles irrespective of the rating or what the manufacturer may say. But views are worth it.
by Wricha
Sat Feb 22, 2020 7:43 am
Forum: Personal Investments
Topic: Trust Investments for young couple
Replies: 17
Views: 1583

Re: Trust Investments for young couple

Unless you are professional multi generational wealth advisor with years of experience I think you are out of your league (and taking on unnecessary aggravation). You are not only dealing with finances you are dealing with the emotional baggage of a tour group. Maybe accompany wife to meet with said...
by Wricha
Thu Feb 20, 2020 5:20 am
Forum: Personal Finance (Not Investing)
Topic: Optimal age to purchase SPIA
Replies: 42
Views: 4694

Re: Optimal age to purchase SPIA

There's no peak or optimum or "sweet spot" in the sense of money's worth. If you look at a mortality table like the one at Social Security's website , the columns labelled "probability of death," you will see that once you reach age 10, the numbers do nothing but increase continually with age. The ...
by Wricha
Sat Feb 15, 2020 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare vs IRMAA vs health care coverage
Replies: 37
Views: 2018

Re: Medicare vs IRMAA vs health care coverage

If a Medicare beneficiary has the income to be subject to IRMAA, then he certainly has the ability to pay IRMAA. So if a person has income more than you they should pay more for a “benefit” ? Given that they more than likely paid more than you during their entire working career for Medicare. Just t...
by Wricha
Fri Feb 14, 2020 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare vs IRMAA vs health care coverage
Replies: 37
Views: 2018

Re: Medicare vs IRMAA vs health care coverage

Is one allowed to buy healthcare insurance if they are eligible for Medicare?
by Wricha
Wed Feb 12, 2020 9:22 pm
Forum: Personal Finance (Not Investing)
Topic: Where to leave money when we die
Replies: 68
Views: 5340

Re: Where to leave money when we die

It maybe alright for an individual one knows but to setup a scholarship for the university to administer......is foolish. This is the same university that allows a student with communication major to go into debt $80k and feel righteous when they should be prosecuted. Yes - I do see your point abou...
by Wricha
Wed Feb 12, 2020 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Where to leave money when we die
Replies: 68
Views: 5340

Re: Where to leave money when we die

Also having similar thoughts. Higher education is off my list as they have done nothing to lower the cost of education to make it more affordable to more people. Instead they have driven up the cost (even with new technology) forcing students into some devastating situations. Lately I have been jus...
by Wricha
Wed Feb 12, 2020 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Where to leave money when we die
Replies: 68
Views: 5340

Re: Where to leave money when we die

Also having similar thoughts. Higher education is off my list as they have done nothing to lower the cost of education to make it more affordable to more people. Instead they have driven up the cost (even with new technology) forcing students into some devastating situations. Lately I have been just...
by Wricha
Mon Feb 10, 2020 5:43 pm
Forum: Personal Consumer Issues
Topic: What is your most luxury/expensive hobby.
Replies: 262
Views: 19240

Re: What is your most luxury/expensive hobby.

Cycling, easily. And my riding partner got a fat bike, so now I need one of those. Every time I have gone snowshoeing this winter there has easily been 25x as many people on e-assist fatbikes than those on foot. I want one bad. Wife has agreed that I can spend stupid money one one ($5k or so) after...
by Wricha
Mon Feb 10, 2020 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 968
Views: 132239

Re: How much money do you need to retire?

Agree that the issue goes both ways. Not sure about the proportion of attitudes but either way it tends to make these threads battlegrounds of divergent lifestyles and attitudes, often including the implied judgemental criticism. Folks are really invested with trying to identify with a “group, fami...
by Wricha
Mon Feb 10, 2020 8:05 am
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 968
Views: 132239

Re: How much money do you need to retire?

Whatever his reasons, they are his. And his business. People retiring on just SS or $10M don't need the scorn of those who think their perfect number isn't that. Yes, you’ve uncovered the basic problem with these types of threads. If I may state it: “my spending level is perfect for me and should a...
by Wricha
Fri Feb 07, 2020 7:21 am
Forum: Personal Investments
Topic: How does my plan look? $1 million income.
Replies: 53
Views: 8929

Re: How does my plan look? $1 million income.

What is the magic of $4 Million? Appears to be a number picked out of a hat it ties into nothing. Given your age and guessing your expenses at $325k your should be thinking closer to $12M (minimum) So I think your plan Is flawed and baseless. My annual expenses are 120k/year. I’m using the 3% rule ...
by Wricha
Thu Feb 06, 2020 9:49 pm
Forum: Personal Investments
Topic: How does my plan look? $1 million income.
Replies: 53
Views: 8929

Re: How does my plan look? $1 million income.

What is the magic of $4 Million? Appears to be a number picked out of a hat it ties into nothing. Given your age and guessing your expenses at $325k your should be thinking closer to $12M (minimum) So I think your plan Is flawed and baseless.
by Wricha
Tue Jan 28, 2020 1:36 am
Forum: Personal Consumer Issues
Topic: Prescription Drug Pricing: Good Rx Coupon vs. Medicare Part D insurance
Replies: 27
Views: 2214

Re: Prescription Drug Pricing: Good Rx Coupon vs. Medicare Part D insurance

I'm new to Part D, so let me see if I'm following correctly ...... You all have Part D, but you check the price on Good Rx and if lower go that route? What then is the point of having Part D? I'm guessing so that there will be coverage if a new diagnosis is made that necessitates a very expensive n...