Search found 475 matches

by Wricha
Thu Oct 17, 2019 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Should I take the job in OKC or Orlando?
Replies: 95
Views: 4856

Re: Should I take the job in OKC or Orlando?

Spent 30 years buying physician practices (hundreds of them). OP’s quote “The practice a owned by a couple, one of which is a physician.” This is going no where good for you. Remember, no one and I mean no one can put to another doc like a “Senior partner” and with a spouse involved look for an exit...
by Wricha
Fri Sep 27, 2019 6:05 am
Forum: Personal Investments
Topic: Which brokerages can display Personal Portfolio Performance?
Replies: 26
Views: 1645

Re: Which brokerages can display Personal Portfolio Performance?

Thanks. That's a big enough difference between Schwab and Fidelity that it would tip the scales towards Schwab for me. I am very happy with schwab and their costumer service is great. One other feature they recently added was cash flow (past and future/anticipated for the year) I have many individu...
by Wricha
Thu Sep 19, 2019 5:43 am
Forum: Personal Finance (Not Investing)
Topic: Tax avoidance and estate planning ‘for the rich’?
Replies: 61
Views: 6250

Re: Tax avoidance and estate planning ‘for the rich’?

Warren Buffett no doubt buys his health insurance though one of his companies. By the way, based on Warren’s net worth proportional to my net worth his additional IRMAA payment would be in excess of $18M . The bolded is untrue, right? I thought the max that IRMAA can increase one's tab is a few hun...
by Wricha
Thu Sep 19, 2019 5:41 am
Forum: Personal Finance (Not Investing)
Topic: Tax avoidance and estate planning ‘for the rich’?
Replies: 61
Views: 6250

Re: Tax avoidance and estate planning ‘for the rich’?

Warren Buffett no doubt buys his health insurance though one of his companies. By the way, based on Warren’s net worth proportional to my net worth his additional IRMAA payment would be in excess of $18M . The bolded is untrue, right? I thought the max that IRMAA can increase one's tab is a few hun...
by Wricha
Wed Sep 18, 2019 10:47 pm
Forum: Personal Finance (Not Investing)
Topic: Tax avoidance and estate planning ‘for the rich’?
Replies: 61
Views: 6250

Re: Tax avoidance and estate planning ‘for the rich’?

Warren Buffett no doubt buys his health insurance though one of his companies. By the way, based on Warren’s net worth proportional to my net worth his additional IRMAA payment would be in excess of $18M . The bolded is untrue, right? I thought the max that IRMAA can increase one's tab is a few hun...
by Wricha
Tue Sep 17, 2019 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: Tax avoidance and estate planning ‘for the rich’?
Replies: 61
Views: 6250

Re: Tax avoidance and estate planning ‘for the rich’?

The super wealthy can create different corporate structures that allow them certain advantages based on those corporate structures. These structures allow them to account for expenses and place assets strategically. One example that I am confronted with now is IRMMA. Although not technically a tax ...
by Wricha
Tue Sep 17, 2019 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Tax avoidance and estate planning ‘for the rich’?
Replies: 61
Views: 6250

Re: Tax avoidance and estate planning ‘for the rich’?

The super wealthy can create different corporate structures that allow them certain advantages based on those corporate structures. These structures allow them to account for expenses and place assets strategically. One example that I am confronted with now is IRMMA. Although not technically a tax ...
by Wricha
Tue Sep 17, 2019 5:46 am
Forum: Personal Finance (Not Investing)
Topic: Tax avoidance and estate planning ‘for the rich’?
Replies: 61
Views: 6250

Re: Tax avoidance and estate planning ‘for the rich’?

The super wealthy can create different corporate structures that allow them certain advantages based on those corporate structures. These structures allow them to account for expenses and place assets strategically. One example that I am confronted with now is IRMMA. Although not technically a tax i...
by Wricha
Sun Sep 15, 2019 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area teacher saving half my income – why the doubt? (and asking more questions)
Replies: 493
Views: 26455

Re: Bay Area teacher saving half my income – why the doubt? (and asking more questions)

"Life is all about choices. Have you considered a spouse who works in the teaching profession so that they can max out both a 403b and a 457b as well as contribute the mandatory pension contribution to help lower your MAGI?" My thoughts are that picking a career for specific income or tax advantage...
by Wricha
Sun Sep 08, 2019 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on selling real estate (Family Property)
Replies: 19
Views: 1201

Re: Advice on selling real estate (Family Property)

This is an easy one. Sell. Your wife and child are your primary family/concern. Lesson learned never get emotional attached to real estate. I have bought my dream house 5 times the best commercial real estate in the world 20 times and land I had big plans at least 10 times. Everyone’s circumstances ...
by Wricha
Sat Aug 31, 2019 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage with sale of taxable account assets?
Replies: 87
Views: 4682

Re: Pay off mortgage with sale of taxable account assets?

Quote from previous post “Putting all of your investable money into just one home at an early age is similar to putting all of your money into just one stock (not a mutual fund, but an actual individual company)”. First: it not all. Second: when that individual stock loses value will it keep the rai...
by Wricha
Sat Aug 17, 2019 8:46 pm
Forum: Personal Consumer Issues
Topic: Aliens have captured my husband [wants to buy a Porsche]
Replies: 138
Views: 10726

Re: Aliens have captured my husband [wants to buy a Porsche]

At least they were well informed aliens. Porsche’s are terrific cars and extremely reliable based on 25 years of personal experience.
The only word of advice I can give you is “proceed”.
by Wricha
Fri Aug 16, 2019 11:05 pm
Forum: Personal Investments
Topic: AA on real estate for overall portfolio?
Replies: 20
Views: 1246

Re: AA on real estate for overall portfolio?

I am now retired and have about 31% in commercial real estate (class A office space), 38% in stock (almost all SPY) and 21% in bonds (muni and government, cash) More importantly is the cash flow from these asset classes: Real estate is 65%, stocks 15%, bonds 20%. This is just me but cash flow is wha...
by Wricha
Thu Aug 01, 2019 10:20 pm
Forum: Personal Finance (Not Investing)
Topic: USAA suspects credit card may have been compromised
Replies: 17
Views: 1486

Re: USAA suspects credit card may have been compromised

I did not get that message. I did get a message from USAA asking me if I had charged $4400 and $6000 at Target two weeks ago. I have not been in a Target store in two years. So I got new credit cards.
by Wricha
Tue Jul 30, 2019 10:56 am
Forum: Personal Finance (Not Investing)
Topic: How do you move past old financial mistakes?
Replies: 57
Views: 4994

Re: How do you move past old financial mistakes?

I make a huge daily effort to keep, "coulda', shoulda', and woulda'" out of my life. There was an old carpenter guy I worked with in the old days that called it, "stinkin' thinkin'". It's tough to move past the past, they have a way of creeping back. :shock: Focus on proactively going forward, make...
by Wricha
Fri Jul 26, 2019 12:22 am
Forum: Personal Finance (Not Investing)
Topic: Commercial Real Estate knowledge and/or experience? Help!!
Replies: 25
Views: 1486

Re: Commercial Real Estate knowledge and/or experience? Help!!

Can anyone with experience in this share any suggestions or guidance that may help get us find something quicker and also comment on financing of a project like this. If we have a million for down payment, how much will a bank be willing to lend for this type of project?? Sure, I would put up my ot...
by Wricha
Thu Jul 25, 2019 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Commercial Real Estate knowledge and/or experience? Help!!
Replies: 25
Views: 1486

Re: Commercial Real Estate knowledge and/or experience? Help!!

Can anyone with experience in this share any suggestions or guidance that may help get us find something quicker and also comment on financing of a project like this. If we have a million for down payment, how much will a bank be willing to lend for this type of project?? Sure, I would put up my ot...
by Wricha
Fri Jul 19, 2019 10:03 pm
Forum: Personal Finance (Not Investing)
Topic: If you own a sportfishing boat...when did you pull the trigger?
Replies: 18
Views: 1734

Re: If you own a sportfishing boat...when did you pull the trigger?

TL;DR: If you can pay for the boat for cash and you can cash flow $10K+ year for operating costs while maintaining your standard of living and investing, you might be able to afford a 25' sport fishing boat docked at a marina, presuming you spend 50 hours of your manual labor keeping the boat up. M...
by Wricha
Fri Jul 19, 2019 10:57 am
Forum: Personal Investments
Topic: Etrade denies promotion on $1 mil new account
Replies: 65
Views: 7606

Re: Etrade denies promotion on $1 mil new account

In March I received an email promotion from Etrade offering $3000 for a $1 mil new account. Instead of clicking on the email link to open the new account, I went to the Etrade web page for security reasons to open the account. The account was funded a few weeks later. Recently, I contacted Etrade t...
by Wricha
Thu Jul 18, 2019 3:19 pm
Forum: Personal Consumer Issues
Topic: Vancouver in October
Replies: 10
Views: 870

Re: Vancouver in October

Thanks for the responses
by Wricha
Wed Jul 17, 2019 8:57 pm
Forum: Personal Consumer Issues
Topic: Vancouver in October
Replies: 10
Views: 870

Vancouver in October

Going to Vancouver in October for 4 days recommendation for hotels (like the Fairmount chain in Canada) things to do and Restaurants. Any information is greatly appreciated thanks in advance.
by Wricha
Wed Jul 17, 2019 4:54 am
Forum: Personal Finance (Not Investing)
Topic: Tenant turned off all utilities advice please!!
Replies: 85
Views: 8165

Re: Tenant turned off all utilities advice please!!

My brother needs advice. He rented his prior house out to a woman for a 1 year lease. He used to live in the house and it was totally remodeled and nice. The woman moved in and complained about everything and he always fixed everything. He even had the house professionally cleaned THREE times after...
by Wricha
Wed Jul 17, 2019 4:41 am
Forum: Personal Finance (Not Investing)
Topic: How have elderly parents affected your retirement?
Replies: 29
Views: 5341

Re: How have elderly parents affected your retirement?

Struggling with this issue now; I retired a few weeks ago and simultaneously my 85 year old widowed father has had a series of health and life management problems that required enormous time and attention to resolve. I literally left my office for the last time and drove him to urgent care! He is c...
by Wricha
Tue Jul 16, 2019 10:34 pm
Forum: Personal Finance (Not Investing)
Topic: How do I determine the interest rate if I finance the sale of my business?
Replies: 7
Views: 607

Re: How do I determine the interest rate if I finance the sale of my business?

I’m in the process of selling my business to two employees and I have agreed to finance the sale. I’m comfortable with this and think the risk is minimal. The plan is for them to pay 10% down and then monthly payments for ten years at a fixed rate and then a balloon payment to complete the loan. My...
by Wricha
Thu Jul 11, 2019 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Home insurance - over insured
Replies: 9
Views: 996

Home insurance - over insured

Recently, I bought a second home. I got a very good deal, honest! USAA sent an appraiser out to look at the house. I told the appraiser I only wanted to insure the house for what I have into it. He tried his best and the appraisal come in at 2.5x the price I paid for the house. Hence, good deal mayb...
by Wricha
Sun Jul 07, 2019 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Prenuptial for future son-in-law - RESOLVED
Replies: 46
Views: 2706

Re: Prenuptial for future son-in-law

Yikes, sorry not your call. You are on very thin ice and it’s getting warmer quickly.
by Wricha
Sat Jul 06, 2019 4:58 am
Forum: Personal Investments
Topic: Invest $2-3M now and how? Index vs self made stock portfolio? How's my Portfolio?
Replies: 111
Views: 7465

Re: Invest $2-3M now and how? Index vs self made stock portfolio? How's my Portfolio?

OP, You are getting excellent advice here. Had you been charged for this advice you would be paying more attention and thinking through your strategy (which my experience says is flawed). Unfortunately, when one does not pay for the card trick they won’t remember it. The biggest problem with youthfu...
by Wricha
Fri Jul 05, 2019 7:23 am
Forum: Personal Finance (Not Investing)
Topic: Home Price as a % of Net Worth
Replies: 20
Views: 1846

Re: Home Price as a % of Net Worth

student wrote:
Fri Jul 05, 2019 5:38 am
My personal guideline is not as a percentage of net worth but as a percentage of income. I use 2.5x to 3x annual gross income.
Agree unless you are planning to pay cash, net worth is less of a factor. In my opinion net worth is an over rated variable.
by Wricha
Fri Jul 05, 2019 6:43 am
Forum: Personal Finance (Not Investing)
Topic: Do you share your net worth with family members?
Replies: 252
Views: 21562

Re: Do you share your net worth with family members?

No, I would not share that information. I have yet to see any value in doing so, even on this board (no one has shown the value in it) unless they are assisting parents etc. My Father who was in his late 90’s. Ask me if I was doing ok? He never made more than $25k/yr. By this time he was in an assis...
by Wricha
Tue Jul 02, 2019 6:51 am
Forum: Personal Finance (Not Investing)
Topic: Would we regret buying a 2nd home?
Replies: 90
Views: 8692

Re: Would we regret buying a 2nd home?

I have owned second home(s) for more than 20 years. The houses have been in beautiful areas. They have been at least a 2 hour plane ride away. The price of boarding a plane with just iPad knowing clothes and personal items were already at your house priceless. If you can afford it and will enjoy it ...
by Wricha
Thu Jun 27, 2019 8:58 am
Forum: Personal Finance (Not Investing)
Topic: Taking out a loan to build a commercial building
Replies: 27
Views: 1782

Re: Taking out a loan to build a commercial building

OP here. Just to answer some of the questions raised: This is a start-up business. I have a high-ish net worth, probably 3 1/2- 4x what the loan amount would be. This includes several rental properties, plus my personal home, all paid off. I have a high-ish income that could support the business un...
by Wricha
Mon Jun 17, 2019 11:06 pm
Forum: Personal Investments
Topic: What percentage of total portfolio in REIT's do you have? Why? . . Why not?
Replies: 229
Views: 16484

Re: What percentage of total portfolio in REIT's do you have? Why?

I don’t own any REITs but I have 31% of my portfolio in commercial real estate. Is that in physically held, personally owned, commercial R/E? j [/quote There are several buildings (8) that are owned by two partners. They are professionally managed with very little direct involvement by the partners...
by Wricha
Mon Jun 17, 2019 9:14 pm
Forum: Personal Investments
Topic: What percentage of total portfolio in REIT's do you have? Why? . . Why not?
Replies: 229
Views: 16484

Re: What percentage of total portfolio in REIT's do you have? Why?

I don’t own any REITs but I have 31% of my portfolio in commercial real estate.
by Wricha
Fri Jun 14, 2019 3:36 am
Forum: Investing - Theory, News & General
Topic: What financial information do you wish was more commonly known?
Replies: 50
Views: 9554

Re: What financial information do you wish was more commonly known?

Even on this forum. The importance/value of cash flow vs net worth.
by Wricha
Sun Jun 09, 2019 7:24 pm
Forum: Personal Consumer Issues
Topic: I'm thinking about buying a supercar anyone here done this and feedback?
Replies: 241
Views: 14600

Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

I am not sure where the dividing line is on a exotic super car. I have owned Porsche(s) for 25 years currently 911 turbo and it all the car I can handle/want. New, your in around $200k. Test drive one maybe worth it. Great cars although maybe not an exotic super car.
by Wricha
Sat Jun 08, 2019 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Tell us your side hustle success stories.
Replies: 68
Views: 7305

Re: Tell us your side hustle success stories.

My side hustle\ extracurricular activity has been real estate for over 40 years. I enjoy looking at real estate (all types) and taking to agents. Particularly on vacation! Traded up over the years and now only own “class A” medical office space. This represents 35% of my net worth and 65% of my cash...
by Wricha
Thu Jun 06, 2019 1:25 pm
Forum: US Chapters
Topic: June 6, 1944 D Day and General Patton [D-Day plus 11 days, a war article by Ernie Pyle]
Replies: 42
Views: 4292

Re: June 6, 1944 D Day and General Patton

Truly "The Greatest Generation". I watched "Saving Private Ryan" again over Memorial Day weekend, and couldn't help but be struck by awe and gratitude at the thought of all these young men storming that beach, probably scared out of their wits, many losing their lives, to defeat tyranny. Amazing. I...
by Wricha
Wed May 29, 2019 12:15 pm
Forum: Personal Consumer Issues
Topic: Its a Jeep thing?
Replies: 40
Views: 3595

Re: Its a Jeep thing?

I have owned 4 Jeeps in eight years. Mine is basically a stripped down 4 door wrangler (list for $37k 2019). Every two years the dealer calls and asks me if I am interested selling. I give him my old Jeep and $5k (done it 4x) and I may change oil once or twice and never tires. So it cost me $2,500/y...
by Wricha
Tue May 28, 2019 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Annuity purchase
Replies: 27
Views: 2974

Re: Annuity purchase

... Another way to do this is to put assets in a trust and appoint someone (and pay him/her) to manage the trust and distribute the money as desired. ... That's a less expensive and more flexible solution. The annuity may make sense for someone who needs the insurance against living too long and ru...
by Wricha
Tue May 28, 2019 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Annuity purchase
Replies: 27
Views: 2974

Re: Annuity purchase

... Another way to do this is to put assets in a trust and appoint someone (and pay him/her) to manage the trust and distribute the money as desired. ... That's a less expensive and more flexible solution. The annuity may make sense for someone who needs the insurance against living too long and ru...
by Wricha
Mon May 27, 2019 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Annuity purchase
Replies: 27
Views: 2974

Re: Annuity purchase

22twain wrote:
Mon May 27, 2019 5:53 pm
Swimmer wrote:
Mon May 27, 2019 5:10 pm
Here in Florida
For which, see the Florida Life & Health Insurance Guaranty Association. Other states have something similar.
Thanks 22twain
by Wricha
Sun May 26, 2019 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Annuity purchase
Replies: 27
Views: 2974

Re: Annuity purchase

... Another way to do this is to put assets in a trust and appoint someone (and pay him/her) to manage the trust and distribute the money as desired. ... That's a less expensive and more flexible solution. The annuity may make sense for someone who needs the insurance against living too long and ru...
by Wricha
Sun May 26, 2019 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Annuity purchase
Replies: 27
Views: 2974

Re: Annuity purchase

What is a life annuity. One possible reason is the one that Wricha named. He wants to ensure that after his death, his partner receives a steady income without needing to know how to withdraw money from inherited assets. Another way to do this is to put assets in a trust and appoint someone (and pa...
by Wricha
Sun May 26, 2019 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: Annuity purchase
Replies: 27
Views: 2974

Re: Annuity purchase

I have struggled with the thought of buying annuities. I am almost over the fact it’s insurance and not a savvy investment. My reason for buying is old age insurance and if something happens to me, partner doesn’t like dealing with investments. We have a fairly complicated portfolio (stock, bonds, ...
by Wricha
Sun May 26, 2019 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Annuity purchase
Replies: 27
Views: 2974

Annuity purchase

I have struggled with the thought of buying annuities. I am almost over the fact it’s insurance and not a savvy investment. My reason for buying is old age insurance and if something happens to me, partner doesn’t like dealing with investments. We have a fairly complicated portfolio (stock, bonds, s...
by Wricha
Fri May 24, 2019 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to buy Part D if you are subject to IRMAA?
Replies: 43
Views: 2646

Re: Does it make sense to buy Part D if you are subject to IRMAA?

Not a lot of activists for the IRMAA Coalition. I’m not too bothered by the notion of higher premiums for those of us with higher incomes. My primary beef with IRMAA is its “cliff effect”, and the mental energy required to stay on the right side of its bracket boundaries. If your not worried about ...
by Wricha
Fri May 24, 2019 4:26 pm
Forum: Investing - Theory, News & General
Topic: Switching from Vanguard to Schwab
Replies: 19
Views: 2988

Re: Switching from Vanguard to Schwab

Switch from Vanguard to Schwab five years ago. Could not be more pleased. Bonus of $5000 plus 100 free trades with costumer service that is much better than Vanguard. Vanguard just grew to big to fast without training staff properly but still a good company just not in Schwab’s league. Just one per...
by Wricha
Fri May 24, 2019 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to buy Part D if you are subject to IRMAA?
Replies: 43
Views: 2646

Re: Does it make sense to buy Part D if you are subject to IRMAA?

Those of you who are subject to IRMAA, do you buy Part D? As there is no additional IRMAA-related penalty for late enrollment in Part D, simple math suggests that buying Part D when a need arises makes more sense. Anyone did an in-depth analysis on that? IRMAA ! I am just about over it (not quite)....
by Wricha
Thu May 23, 2019 9:07 pm
Forum: Investing - Theory, News & General
Topic: Switching from Vanguard to Schwab
Replies: 19
Views: 2988

Re: Switching from Vanguard to Schwab

Switch from Vanguard to Schwab five years ago. Could not be more pleased. Bonus of $5000 plus 100 free trades with costumer service that is much better than Vanguard. Vanguard just grew to big to fast without training staff properly but still a good company just not in Schwab’s league. Just one pers...