Search found 586 matches

by LFKB
Tue Oct 01, 2019 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Car price ratio to NW
Replies: 140
Views: 9719

Re: Car price ratio to NW

Mine is about 1.2% of net worth
by LFKB
Wed Sep 25, 2019 6:09 pm
Forum: Personal Investments
Topic: VTIAX International fund - should I give up on it?
Replies: 297
Views: 27833

Re: VTIAX International fund - should I give up on it?

VTIAX has been pretty frustrating but I fell below my allocation for international recently and bought another $25k today. It wasn't fun to do, but long term, it felt like the right move.
by LFKB
Wed Jul 17, 2019 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: in CA, what is the best way to save for kids college, in detail?
Replies: 21
Views: 1129

Re: in CA, what is the best way to save for kids college, in detail?

We have a 1 year old and live in CA. We put about $50k in upfront and then put $1k per month in. We use the Nevada plan because it integrates with the Vanguard website and has low cost Vanguard fund options.
by LFKB
Wed Jul 10, 2019 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: How much should I have saved for retirement by age 40?
Replies: 111
Views: 19499

Re: How much should I have saved for retirement by age 40?

TomatoTomahto wrote:
Wed Jul 10, 2019 5:27 am
LFKB wrote:
Wed Jul 10, 2019 12:17 am
$43 million

If you have saved less, you are behind

Next question
Are you including home equity in that? I think it should be liquid assets.
Apologies for not being more specific...

Yes, liquid assets only. It excludes SS, home equity and even rolexes
by LFKB
Wed Jul 10, 2019 12:17 am
Forum: Personal Finance (Not Investing)
Topic: How much should I have saved for retirement by age 40?
Replies: 111
Views: 19499

Re: How much should I have saved for retirement by age 40?

$43 million

If you have saved less, you are behind

Next question
by LFKB
Wed Jul 03, 2019 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Staying the course is so hard (support thread)
Replies: 141
Views: 15660

Re: Staying the course is so hard (support thread)

If you make 720k/yr, I don't understand why it will take you 13 years to retire. It should take much less than that unless you are having other budget problems. What are your current expenses, where is all that money going? BTW, I am very similar to you. Physician, 15 year mortgage, kid, with plans...
by LFKB
Fri Jun 21, 2019 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Permanent DINK couples - Considerations, thoughts, etc?
Replies: 97
Views: 10852

Re: Permanent DINK couples - Considerations, thoughts, etc?

Not assuming anything, but don't not have kids for financial reasons. If you want kids, you will be much happier having kids and less money than you will not having kids and having more money. I assume you're not having them for another reason (and no need to disclose the reason), but just wanted to...
by LFKB
Thu Jun 06, 2019 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 317
Views: 39410

Re: Relationship mortgage discounts for moving a million assets

Based on where you are in the process you should still be able to change the term or to IO. Just ask. Also, the relationship rate won’t be reflected in the loan estimate initially as you were told, but they’ll come through with it so long as you move the assets. I will ask about it, thanks. I have ...
by LFKB
Thu Jun 06, 2019 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 317
Views: 39410

Re: Relationship mortgage discounts for moving a million assets

I refi’ed a few months ago with BofA. $3M mortgage Interest only 10 year IO at 2.625% with the 0.5% discount for moving over $1M Also got about $5k in cash bonuses so long as I keep my assets there for 9 months They offered me 2.375% on the 7 year IO The 10 year treasury is down about .25% from 2.3...
by LFKB
Thu Jun 06, 2019 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 317
Views: 39410

Re: Relationship mortgage discounts for moving a million assets

I refi’ed a few months ago with BofA. $3M mortgage Interest only 10 year IO at 2.625% with the 0.5% discount for moving over $1M Also got about $5k in cash bonuses so long as I keep my assets there for 9 months They offered me 2.375% on the 7 year IO The 10 year treasury is down about .25% from 2.3...
by LFKB
Thu Jun 06, 2019 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 317
Views: 39410

Re: Relationship mortgage discounts for moving a million assets

.... or just goto a credit union. Patelco 3.0% 5/1 ARM done. None of this goofy AUM nonsense. It’s probably not the absolute lowest, but darn close, without the hassles. Okay, but the 10/1 ARM is 3.375%, which is exactly Citi's rate without the relationship discount. It's a difference of 0.5% - do ...
by LFKB
Thu Jun 06, 2019 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 317
Views: 39410

Re: Relationship mortgage discounts for moving a million assets

These rates are so low that I fear you may be letting perfect be the enemy of good enough. The ARM is risky, the 30 year fixed is so low as to be nearly a no-brainer. It would be for me. A 30 year is not the right product for most people. If you’re going to live in a house for 15 years or less you ...
by LFKB
Thu Jun 06, 2019 2:04 am
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 317
Views: 39410

Re: Relationship mortgage discounts for moving a million assets

Timely topic. At what point in the process do they lock in the discount? For example, if I move some accounts just prior to closing does that count or does it have to be done at the time of application? My experience with BofA/Merrill was that the accounts had to be moved by five days prior to clos...
by LFKB
Thu Jun 06, 2019 1:51 am
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 317
Views: 39410

Re: Relationship mortgage discounts for moving a million assets

I refi’ed a few months ago with BofA. $3M mortgage Interest only 10 year IO at 2.625% with the 0.5% discount for moving over $1M Also got about $5k in cash bonuses so long as I keep my assets there for 9 months They offered me 2.375% on the 7 year IO The 10 year treasury is down about .25% from 2.35...
by LFKB
Thu May 30, 2019 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 273
Views: 28676

Re: Can I afford this 2.3 million dollar home?

My rule-of-thumb for the last 50 years: never buy a home worth more than 3x income or 2.5x combined income. Yes, you can afford it. But my most important rule-of-thumb: save and invest at least 30% of after tax income. Paying off principal on your home mortgage qualifies, but NOT the payment of int...
by LFKB
Thu May 30, 2019 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 273
Views: 28676

Re: Can I afford this 2.3 million dollar home?

I was at about $1 million income and Low $2 millions net worth and I bought a $4 million house about 3 years ago. I had similar concerns but went for it, even though many on the board told me not to. Since then net worth is up to about $5.6M and the home has appreciated from $4M to $5M. If you love...
by LFKB
Thu May 30, 2019 12:22 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 273
Views: 28676

Re: Can I afford this 2.3 million dollar home?

I was at about $1 million income and Low $2 millions net worth and I bought a $4 million house about 3 years ago. I had similar concerns but went for it, even though many on the board told me not to. Since then net worth is up to about $5.6M and the home has appreciated from $4M to $5M. If you love ...
by LFKB
Sun May 19, 2019 5:02 pm
Forum: Personal Investments
Topic: Merrill Edge Users - What Do You Use for Cash Management?
Replies: 11
Views: 1965

Re: Merrill Edge Users - What Do You Use for Cash Management?

Does anyone use any of the Blackrock or Federated fund options from this link?

https://olui2.fs.ml.com/Publish/Content ... eSheet.pdf
by LFKB
Tue May 14, 2019 3:40 pm
Forum: Personal Investments
Topic: Merrill Edge Users - What Do You Use for Cash Management?
Replies: 11
Views: 1965

Merrill Edge Users - What Do You Use for Cash Management?

I recently switched over from Vanguard to Merrill Edge. For others who use Edge, what did you choose for cash management and why? These are the primary options which are available through Blackrock and Federated Funds (page 2). https://olui2.fs.ml.com/Publish/Content/application/pdf/GWMOL/ICCRateShe...
by LFKB
Tue May 14, 2019 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1147
Views: 323281

Re: Share your net worth progression

Finished college in 2008 2008: $40k 2009: $100k 2010: $200k 2011: $400k 2012: $620k 2013: $850k 2014: $1.15M 2015: $1.6M 2016: $2.1M 2017: $2.8M Today: $5.5M If you don’t mind sharing, what is your occupation and income history? Great job! Private equity and my wife works also and does well. Combin...
by LFKB
Mon May 13, 2019 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1147
Views: 323281

Re: Share your net worth progression

Finished college in 2008 2008: $40k 2009: $100k 2010: $200k 2011: $400k 2012: $620k 2013: $850k 2014: $1.15M 2015: $1.6M 2016: $2.1M 2017: $2.8M Today: $5.5M If you don’t mind sharing, what is your occupation and income history? Great job! Private equity and my wife works also and does well. Combin...
by LFKB
Sun May 12, 2019 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1147
Views: 323281

Re: Share your net worth progression

Finished college in 2008

2008: $40k
2009: $100k
2010: $200k
2011: $400k
2012: $620k
2013: $850k
2014: $1.15M
2015: $1.6M
2016: $2.1M
2017: $2.8M
Today: $5.5M
by LFKB
Sun Apr 21, 2019 12:02 pm
Forum: Personal Consumer Issues
Topic: How much do you spend on food per month, per person?
Replies: 190
Views: 16360

Re: How much do you spend on food per month, per person?

RickBoglehead wrote:
Sun Apr 21, 2019 10:23 am
LFKB wrote:
Sun Apr 21, 2019 9:41 am
We spend about $1k per week for two of us, so about $500 person
So, to conform to the OP's question, you are spending $2,000 per person per month. :shock:
Correct
by LFKB
Sun Apr 21, 2019 9:41 am
Forum: Personal Consumer Issues
Topic: How much do you spend on food per month, per person?
Replies: 190
Views: 16360

Re: How much do you spend on food per month, per person?

We spend about $1k per week for two of us, so about $500 person
by LFKB
Wed Apr 17, 2019 10:02 pm
Forum: Personal Consumer Issues
Topic: Bogleheads privacy warning
Replies: 61
Views: 5848

Re: Bogleheads privacy warning

I’m not really sure how this would be actionable unless someone has a lot of cash or gold or some other asset i. Their house and posted about that. It’s very easy to identify people with high net worth, but that doesn’t mean it is easy to take their money from them.
by LFKB
Tue Apr 16, 2019 7:25 am
Forum: Personal Consumer Issues
Topic: What about IEOR at Berkeley vs CS at UMich/UCLA?
Replies: 52
Views: 3506

Re: What about IEOR at Berkeley vs CS at UMich/UCLA?

For context, I am 11 years out of college and work in finance (private equity) and run recruiting at my firm. If he wants to go into finance, all three of those are very good options. The big investment banks (as well as the consulting firms) recruit from all three of those schools. For context, the...
by LFKB
Tue Apr 16, 2019 12:14 am
Forum: Personal Consumer Issues
Topic: seriously thinking about leaving S. CA but where to?
Replies: 177
Views: 11551

Re: seriously thinking about leaving S. CA but where to?

Charleston, South Carolina. Beautiful city, tons of restaurants and culture, good weather (although not Southern California good) and right on the water. It does get the sporadic hurricane but usually they stay further south I believe.
by LFKB
Mon Apr 08, 2019 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Q to ppl who use spreadsheet for personal finance
Replies: 64
Views: 5898

Re: Q to ppl who use spreadsheet for personal finance

I have been considering switching from quicken to spreadsheet for yrs. (Currently, importing downloaded bank files to quicken) If you are using spreadsheet to keep personal finance record, can you answer any of these? Any know-how will be appreciated. 1. Do you have a current snap shot showing all ...
by LFKB
Mon Apr 08, 2019 11:35 am
Forum: Personal Investments
Topic: BofA / Merrill Edge is [Tempting me to] Switch from Vanguard
Replies: 49
Views: 4943

Re: BofA / Merrill Edge is Making Me Switch from Vanguard

Do you start with a BofA mortgage agent or contact the your Merrill Edge relationship manager? I started with a BofA mortgage agent. I also locked my rate on March 27th when the 10 year treasury was at it's low over the last year at about 2.38%. It's now at 2.51% so any rates would likely be at lea...
by LFKB
Mon Apr 08, 2019 11:30 am
Forum: Personal Investments
Topic: BofA / Merrill Edge is [Tempting me to] Switch from Vanguard
Replies: 49
Views: 4943

Re: BofA / Merrill Edge is Making Me Switch from Vanguard

The offer does sound intriguing. Two questions I would explore: 1) what are closing costs of the refinance --e.g., title insurance, origination fee/points, miscellaneous costs such as payoff fees, doc fees, recording fees, etc. 2) What is the interest rate on the settlement account at Merrill Edge ...
by LFKB
Mon Apr 08, 2019 11:26 am
Forum: Personal Investments
Topic: BofA / Merrill Edge is [Tempting me to] Switch from Vanguard
Replies: 49
Views: 4943

Re: BofA / Merrill Edge is Making Me Switch from Vanguard

xerxes101 wrote:
Sat Apr 06, 2019 9:54 am
Also, did you pay any points with that rate? Sounds like you must have.
No points. They initially wanted some small amount of points (I think 0.1 but I don't recall entirely) but I was able to leverage another lender's offer to get them to get rid of the points.
by LFKB
Wed Apr 03, 2019 11:38 am
Forum: Personal Investments
Topic: BofA / Merrill Edge is [Tempting me to] Switch from Vanguard
Replies: 49
Views: 4943

Re: BofA / Merrill Edge is Making Me Switch from Vanguard

Why do you like interest only loans? I get that you're paying a lower payment but it always made sense to me to eventually have no house payment. I have the funds to pay off the mortgage if I wanted to, but I’d rather borrow at a low rate and earn more than that rate on my money. Let’s use my 30 ye...
by LFKB
Tue Apr 02, 2019 8:54 pm
Forum: Personal Investments
Topic: BofA / Merrill Edge is [Tempting me to] Switch from Vanguard
Replies: 49
Views: 4943

Re: BofA / Merrill Edge is Making Me Switch from Vanguard

Why do you like interest only loans? I get that you're paying a lower payment but it always made sense to me to eventually have no house payment. I have the funds to pay off the mortgage if I wanted to, but I’d rather borrow at a low rate and earn more than that rate on my money. Let’s use my 30 ye...
by LFKB
Tue Apr 02, 2019 5:36 pm
Forum: Personal Investments
Topic: BofA / Merrill Edge is [Tempting me to] Switch from Vanguard
Replies: 49
Views: 4943

Re: BofA / Merrill Edge is Making Me Switch from Vanguard

7 year treasury yields 2.4% and you got a 2.375% offer on a 7-year ARM? So you are more creditworthy than the United States Government? I stated explicitly that I got a 0.5% rate reduction for moving over $1M in assets. Without that, I would be at 2.875% which would be the rate to compare to the US...
by LFKB
Tue Apr 02, 2019 5:32 pm
Forum: Personal Investments
Topic: BofA / Merrill Edge is [Tempting me to] Switch from Vanguard
Replies: 49
Views: 4943

Re: BofA / Merrill Edge is Making Me Switch from Vanguard

They aren't making me of course but their offer is tough to pass up. It all started with a refi on my home. I am currently about 3 years in on a a 7 year interest only at 2.7% with another bank. BofA has me locked in on a $3M loan refi at a 7 year interest only at 2.375% or a 10 year interest only ...
by LFKB
Tue Apr 02, 2019 3:53 pm
Forum: Personal Investments
Topic: BofA / Merrill Edge is [Tempting me to] Switch from Vanguard
Replies: 49
Views: 4943

Re: BofA / Merrill Edge is Making Me Switch from Vanguard

They aren't making me of course but their offer is tough to pass up. It all started with a refi on my home. I am currently about 3 years in on a a 7 year interest only at 2.7% with another bank. BofA has me locked in on a $3M loan refi at a 7 year interest only at 2.375% or a 10 year interest only ...
by LFKB
Tue Apr 02, 2019 2:45 pm
Forum: Personal Investments
Topic: BofA / Merrill Edge is [Tempting me to] Switch from Vanguard
Replies: 49
Views: 4943

Re: BofA / Merrill Edge is Making Me Switch from Vanguard

The 100 free trades per month are for equities and ETFs, both sales and purchases. Mutual funds are not included. LFKB, I did the same to pick up the 50 bps rate reduction, there's really no catch. The 75% bonus cash back on the BofA credit cards is also enticing. Thanks for confirming. My Merrill ...
by LFKB
Tue Apr 02, 2019 2:42 pm
Forum: Personal Investments
Topic: BofA / Merrill Edge is [Tempting me to] Switch from Vanguard
Replies: 49
Views: 4943

Re: BofA / Merrill Edge is Making Me Switch from Vanguard

7 year treasury yields 2.4% and you got a 2.375% offer on a 7-year ARM? So you are more creditworthy than the United States Government? I stated explicitly that I got a 0.5% rate reduction for moving over $1M in assets. Without that, I would be at 2.875% which would be the rate to compare to the US...
by LFKB
Tue Apr 02, 2019 1:42 pm
Forum: Personal Investments
Topic: BofA / Merrill Edge is [Tempting me to] Switch from Vanguard
Replies: 49
Views: 4943

BofA / Merrill Edge is [Tempting me to] Switch from Vanguard

They aren't making me of course but their offer is tough to pass up. It all started with a refi on my home. I am currently about 3 years in on a a 7 year interest only at 2.7% with another bank. BofA has me locked in on a $3M loan refi at a 7 year interest only at 2.375% or a 10 year interest only a...
by LFKB
Tue Mar 19, 2019 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford a $1.5 million house?
Replies: 125
Views: 9438

Re: Can I afford a $1.5 million house?

Net worth is amazingly low for such high incomes. They are paying high taxes too. The OP can afford $500K, but after that really needs to buckle down and save save save. The OP is in his/her mid 30s with ~17x annual spend saved and no debt and being told to "save save save." They are doing just fin...
by LFKB
Mon Mar 18, 2019 10:19 pm
Forum: Investing - Theory, News & General
Topic: That's enough for me in 2019
Replies: 888
Views: 112808

Re: That's enough for me in 2019

This is my top-calling post. Feel free to bump as we make new highs. We are less than a quarter into 2019 and it has already been incredible year for equities and bonds. My portfolio is up 15% YTD and crossed a nice round number on Friday. Thanks to a decade of low interest rates, I've never had a ...
by LFKB
Mon Mar 18, 2019 12:21 am
Forum: Personal Finance (Not Investing)
Topic: How Important is a Credit Score?
Replies: 86
Views: 4389

Re: How Important is a Credit Score?

Having good credit is very important. Different lenders have different thresholds for just how good it needs to be to qualify for their best rates. Typically if you are over 760 you’ll qualify for the best rate, but a recent bank I dealt it had to be 780 or higher. Both of your scores will likely ma...
by LFKB
Mon Mar 11, 2019 1:53 am
Forum: Investing - Theory, News & General
Topic: After ten years, most of the record of the crash is gone
Replies: 41
Views: 6579

Re: After ten years, most of the record of the crash is gone

UpperNwGuy wrote:
Sat Mar 09, 2019 6:29 pm
I am intrigued by the fact that Intermediate-Term Tax-Exempt outperformed Total Bond even before taxes were taken into consideration.
OP didn’t mention anything about intermediate term tax exempt. I think you mis-interpreted the fund he/she mentioned.
by LFKB
Sun Mar 03, 2019 11:14 pm
Forum: Personal Consumer Issues
Topic: Why do you live where you live?
Replies: 134
Views: 9748

Re: Why do you live where you live?

I live in LA

Best weather in world
Beautiful landscape along the ocean
Great restaurants, nightlife, golf, hiking, sports and entertainment
My job is here

The only reason I don’t like living here is the taxes
by LFKB
Sat Mar 02, 2019 1:45 pm
Forum: Personal Investments
Topic: Why Does a Custom Variable Universal Life Insurance Policy Not Make Sense For Me?
Replies: 46
Views: 2774

Re: Why Does a Custom Variable Universal Life Insurance Policy Not Make Sense For Me?

+1 +2 Run away. Fast. Run. -2. OP, if you have come to get unbiased analysis of this product you have come to the wrong place. A few weeks back I posted a similar analysis of a variable annuity product that, after all the math, came out in my favor, and despite everything I posted, folks here refus...
by LFKB
Sat Mar 02, 2019 1:14 pm
Forum: Personal Investments
Topic: Why Does a Custom Variable Universal Life Insurance Policy Not Make Sense For Me?
Replies: 46
Views: 2774

Re: Why Does a Custom Variable Universal Life Insurance Policy Not Make Sense For Me?

LOL. Nope. +1 +2 Run away. Fast. Run. -2. OP, if you have come to get unbiased analysis of this product you have come to the wrong place. A few weeks back I posted a similar analysis of a variable annuity product that, after all the math, came out in my favor, and despite everything I posted, folks...
by LFKB
Sat Mar 02, 2019 1:07 pm
Forum: Personal Investments
Topic: Why Does a Custom Variable Universal Life Insurance Policy Not Make Sense For Me?
Replies: 46
Views: 2774

Re: Why Does a Custom Variable Universal Life Insurance Policy Not Make Sense For Me?

The consensus is clear yet you do not want to hear opposing views. These horrible products are anti-Bogleheads and you are being extremely nieve about the hidden fees and actual return you will get. But doubt anyone can change your mind so good luck. Lol. I have laid out the math and reasoning. You...
by LFKB
Sat Mar 02, 2019 11:53 am
Forum: Personal Investments
Topic: Why Does a Custom Variable Universal Life Insurance Policy Not Make Sense For Me?
Replies: 46
Views: 2774

Re: Why Does a Custom Variable Universal Life Insurance Policy Not Make Sense For Me?

Once again, consistency is necessary. You assume that you'll never touch the multi-million $ cash value in a UL policy, but that you will sell the mutual funds and incur taxes. You need to be consistent - either never touch both, or surrender both. Yes, and the other option mentioned is that the in...
by LFKB
Sat Mar 02, 2019 11:28 am
Forum: Personal Investments
Topic: Why Does a Custom Variable Universal Life Insurance Policy Not Make Sense For Me?
Replies: 46
Views: 2774

Re: Why Does a Custom Variable Universal Life Insurance Policy Not Make Sense For Me?

I am not sure you appreciate how the policy works. I wouldn’t pay any taxes on the gain within the life insurance policy, that is what makes the math work. So your $783k tax shouldn’t be factored in to your math above. I identified in my original post a few things 1) the rate of return of the cash ...
by LFKB
Sat Mar 02, 2019 10:37 am
Forum: Personal Investments
Topic: Why Does a Custom Variable Universal Life Insurance Policy Not Make Sense For Me?
Replies: 46
Views: 2774

Re: Why Does a Custom Variable Universal Life Insurance Policy Not Make Sense For Me?

What would scare me is reading the very well written post by investorage83 and noting the level of expertise and the nuances and gotchas from a veteran of the industry. If I have to study for weeks/months and inherently know the pitfalls and forks in the road 10, 20 years ahead of them and stay ahe...