Search found 707 matches

by miamivice
Tue Jan 23, 2018 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Working in the real world
Replies: 30
Views: 1080

Re: Working in the real world

Getting back to the point of the OP, the wages that folks claim on here are absurd, except for the few doctors and some senior managers. I think a lot of posters lie about their salaries, perhaps in part to keep up with other posters. But I recall some folks who claim to make 800k/year, tech workers...
by miamivice
Tue Jan 23, 2018 6:28 pm
Forum: Investing - Theory, News & General
Topic: Vanguard opens special offices for $1 million clients
Replies: 101
Views: 20901

Re: Vanguard opens special offices for $1 million clients

I would prefer a coffee mug once my account reaches $1 million. Yes. I also would like to say "Vanguard Flagship Status" and then I will drink from it while at meetings with both co-workers and management. I am sure I will make a lot of work friends once word gets out that I am a Flagship member. O...
by miamivice
Tue Jan 23, 2018 5:13 pm
Forum: Investing - Help with Personal Investments
Topic: 529: dollar cost average or fund it heavy now?
Replies: 4
Views: 454

Re: 529: dollar cost average or fund it heavy now?

For each of our children, I calculated how much today I would need if the stock market appreciated at it's historical rate (8%) and tuition goes up at it's historical rate (6%). We then knocked 25% off as I feel our kids should have a child-contribution to their education. We lump sum contributed th...
by miamivice
Mon Jan 22, 2018 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of living comparison (HCOL vs LCOL)
Replies: 67
Views: 3600

Re: Cost of living comparison (HCOL vs LCOL)

You seem to be forgetting the opportunity cost of money. You might do better living in a less expensive house and actually investing the difference in equities rather than assuming that a single house is an ideal or even good investment. That is especially true if you will be buying soon, as intere...
by miamivice
Mon Jan 22, 2018 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of living comparison (HCOL vs LCOL)
Replies: 67
Views: 3600

Re: Cost of living comparison (HCOL vs LCOL)

The main way you save money in a LCOL area is housing. Anything you can buy online costs the same everywhere, with maybe some slight differences in shipping costs. Vacations and travel can cost more from a LCOL area, as you're not flying out of a major hub. Out of pocket medical costs will depend m...
by miamivice
Mon Jan 22, 2018 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of living comparison (HCOL vs LCOL)
Replies: 67
Views: 3600

Re: Cost of living comparison (HCOL vs LCOL)

So when you sell, you will be moving to a less expensive house and extracting profit? If so, then that might favor the HCOLA now and then moving to a LCOLA later. Some people do downsize when they retire, but otherwise, I rarely see people doing that, they seem to almost always want a bigger and mo...
by miamivice
Mon Jan 22, 2018 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of living comparison (HCOL vs LCOL)
Replies: 67
Views: 3600

Re: Cost of living comparison (HCOL vs LCOL)

When and how do you realize the gain, if it occurs? When you sell. I'm assuming that neither the house that I live in today (in the HCOL area) or the house I would buy in the LCOL would be my forever home. Both homes I'd sell. I guess I'm just trying to wrap my mind around a 43% drop in housing cos...
by miamivice
Mon Jan 22, 2018 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of living comparison (HCOL vs LCOL)
Replies: 67
Views: 3600

Re: Cost of living comparison (HCOL vs LCOL)

Housing does not always act as a good "investment" and is a necessity of living (for most people, anyway) so it makes no sense to me to exclude it from the cost of living any more than excluding food because it is an "investment" in good health or dental care because it is an investment in teeth. I...
by miamivice
Mon Jan 22, 2018 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of living comparison (HCOL vs LCOL)
Replies: 67
Views: 3600

Re: Cost of living comparison (HCOL vs LCOL)

How does the appreciation in home value “cover” maintenance and PITI payments? When you sell it, you receive the maintenance and PITI payments back (in the form a big check) as long as your house turned out to be a decent purchase. If it was a rotten purchase, then the appreciation in home value mi...
by miamivice
Mon Jan 22, 2018 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of living comparison (HCOL vs LCOL)
Replies: 67
Views: 3600

Cost of living comparison (HCOL vs LCOL)

I am looking at relocating from a HCOL area to a LCOL area and am trying to compare the cost of living. I looked at one site and it said the new area was 43% less expensive than the current area, but that was primarily due to housing. If I exclude housing (explained below) then there was only about ...
by miamivice
Mon Jan 22, 2018 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Does anyone here with net worths north of $1 mil use financial advisors?
Replies: 205
Views: 23676

Re: Does anyone here with net worths north of $1 mil use financial advisors?

I have a portfolio north of $1 million and pay little to no taxes on it each year. I am a buy and hold type of person when it comes to investing, and since taxes are deferred until the sale is made, I pay little taxes. The future tax liability keeps growing as the market gets strong and someday the ...
by miamivice
Sun Jan 21, 2018 9:34 pm
Forum: Personal Finance (Not Investing)
Topic: Discussing a 529 with your kids
Replies: 73
Views: 4394

Re: Discussing a 529 with your kids

When kids have "skin in the game" they don't cut class casually or put up with professors who love to tell stories rather than teach or are poor teachers. Once they've calculated how hard they had to work for each hour of class it had more value. They are also less inclined to go on the 5 year prog...
by miamivice
Sun Jan 21, 2018 9:24 pm
Forum: Personal Finance (Not Investing)
Topic: Transfer money to family members to take advantage of lower tax rates
Replies: 30
Views: 2666

Re: Transfer money to family members to take advantage of lower tax rates

It doesn't work that way.

You can read up on IRS publications to see why.
by miamivice
Sun Jan 21, 2018 9:17 pm
Forum: Investing - Help with Personal Investments
Topic: Sell Home Depot?
Replies: 51
Views: 3693

Re: Sell Home Depot?

CyclingDuo, If you truly are a great stock picker, and know that Home Depot is a better stock than PG&E, Enron, Washington Mutual, Kodak, or any of a large contingent of companies, then I would invite you to become a fund manager and create an actively managed fund. You will do far better than the p...
by miamivice
Sun Jan 21, 2018 10:15 am
Forum: Investing - Help with Personal Investments
Topic: Sell Home Depot?
Replies: 51
Views: 3693

Re: Sell Home Depot?

How would you feel if Home Depot went bankrupt in the next week and you lost your entire investment? This has happened before, to companies that have appeared very strong. The OP has owned HD since 2000 - meaning this is the 18th year of the OP owning the shares. The company is not going bankrupt n...
by miamivice
Sun Jan 21, 2018 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Bankruptcy questions
Replies: 16
Views: 1330

Re: Bankruptcy questions

The kids are under 18, so I assume they are custodial accounts.
by miamivice
Sun Jan 21, 2018 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Discussing a 529 with your kids
Replies: 73
Views: 4394

Re: Discussing a 529 with your kids

A few points: The kids know to get a job in a field that will pay good money. A degree in math / science with a focus on either engineering or healthcare are two fields we use as examples. The kids are on board with this. I am not on board with your comments. Engineering is a very rigorous college ...
by miamivice
Sun Jan 21, 2018 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Bankruptcy questions
Replies: 16
Views: 1330

Bankruptcy questions

A friend of mine is looking at filing for bankruptcy, due to medical bills and employer instability. She is worried about three things: Her kids bank accounts, college savings, and her retirement. I'm not sure off hand what happens to children's college savings. I don't think the money is in a 529. ...
by miamivice
Sat Jan 20, 2018 1:06 pm
Forum: Investing - Help with Personal Investments
Topic: Sell Home Depot?
Replies: 51
Views: 3693

Re: Sell Home Depot?

How would you feel if Home Depot went bankrupt in the next week and you lost your entire investment?

This has happened before, to companies that have appeared very strong.
by miamivice
Thu Jan 18, 2018 4:10 pm
Forum: Personal Consumer Issues
Topic: Car accident - was directed to sign release
Replies: 71
Views: 4842

Re: Car accident - was directed to sign release

denovo wrote:
Thu Jan 18, 2018 3:58 pm
miamivice wrote:
Thu Jan 11, 2018 9:26 am

$300 - carseat replacement

Did you pay $300 for the car seat you already had?
We are replacing our existing carseat with one of the same brand, model, and color as the previous carseat. I don't recall how much my wife paid for the one that was in the accident.
by miamivice
Thu Jan 18, 2018 4:06 pm
Forum: Personal Consumer Issues
Topic: Car accident - was directed to sign release
Replies: 71
Views: 4842

Re: Car accident - was directed to sign release

Please be fair and considerate to all parties. Consider your wife could have lingering issues which cause pain and suffering or require treatment. But also consider the insurance company is trying to keep claims and rates low by not paying frivolous claims. Asking for anything more than actual plus...
by miamivice
Thu Jan 18, 2018 3:48 pm
Forum: Personal Consumer Issues
Topic: Car accident - was directed to sign release
Replies: 71
Views: 4842

Re: Car accident - was directed to sign release

Why would you assume the car seat needs to be replaced? Was it damaged? You should always replace any car seat that has been in an accident if only as a precaution If you want to pay for it. The National Highway Traffic Safety Administration has clear guidelines on this. "Always" is indefensible an...
by miamivice
Tue Jan 16, 2018 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: How to max out 401k
Replies: 19
Views: 1591

Re: How to max out 401k

Your HR department should automatically stop your contribution at the max. Just be sure you have After tax (spillover election) contributions turned off for when you get to that point. Why? If the plan allows after-tax, then that's potentially a powerful added benefit (Mega Backdoor Roth). It shoul...
by miamivice
Tue Jan 16, 2018 12:21 pm
Forum: Personal Consumer Issues
Topic: How can I become a better consumer?
Replies: 18
Views: 1575

How can I become a better consumer?

I find that I'm a better saver than consumer. That is, I'm always happy when I stick $100 (or $500 or $1000) in the bank. But when I purchase an item (again, for $100, or $500, or $1000) it's a mixed bag as to whether that purchase was something that I actually use, and is fun to use. Case in point:...
by miamivice
Mon Jan 15, 2018 10:01 pm
Forum: Personal Consumer Issues
Topic: Selling one owner car. Give new owner service records?
Replies: 15
Views: 1212

Re: Selling one owner car. Give new owner service records?

I have always provided service records to the new owner when selling private party. I don't really care what they do with them, but their eyes light up when I bring out the stack of receipts, invoices, and bills. But whether you keep your receipts or not doesn't add or subtract value to your car. In...
by miamivice
Mon Jan 15, 2018 9:26 pm
Forum: Investing - Help with Personal Investments
Topic: Funding 529s and retirement from taxable investment accounts
Replies: 11
Views: 808

Re: Funding 529s and retirement from taxable investment accounts

Be careful not to overfund your 529, as any extra that isn't used for education you have to pay ordinary income tax plus penalty on. Just to be clear (I'm sure this is what miamivice meant but a lot of people think there are huge penalties with the FULL account balance) statement above could be cla...
by miamivice
Mon Jan 15, 2018 2:59 pm
Forum: Personal Consumer Issues
Topic: PTO policy after international business travel
Replies: 53
Views: 3118

Re: PTO policy after international business travel

Out of curiosity, how often does an individual contributor get to set the departure and return dates of business travel?

I have never had that opportunity. My travel dates are always set by others, and I'm not able to adjust the dates for my convenience.
by miamivice
Mon Jan 15, 2018 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Consulting side gig while at mega corp
Replies: 25
Views: 2176

Re: Consulting side gig while at mega corp

There is a lot of wrong information posted above.

Best (and most accurate) information is to check with your employer. Some will restrict you more than others. Bottom line though is that it is up to the mega corp as to how much freedom you have with your free time.
by miamivice
Mon Jan 15, 2018 10:13 am
Forum: Investing - Help with Personal Investments
Topic: Funding 529s and retirement from taxable investment accounts
Replies: 11
Views: 808

Re: Funding 529s and retirement from taxable investment accounts

Every year my wife and I make an annual contribution to our children's 529 and our individual Roth IRAs. In the past we've been able to fund these with savings, while still keeping our emergency savings amount intact. This year will be different and my question is should we liquidate any of our tax...
by miamivice
Sun Jan 14, 2018 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Rolling old Roth IRAs to 529s
Replies: 22
Views: 780

Re: Rolling old Roth IRAs to 529s

no. leave them alone. your kids can borrow for college. you cant borrow for retirement. you can also pass them along to your kids when you die. I disagree with this advice. It is easily possible to save up too much for your own retirement, and in doing so, saddle your children with college debt whi...
by miamivice
Sun Jan 14, 2018 10:51 am
Forum: Personal Finance (Not Investing)
Topic: Rolling old Roth IRAs to 529s
Replies: 22
Views: 780

Re: Rolling old Roth IRAs to 529s

Can you just use the Roth IRA for college tuition? If it happens you have enough to pay for college by other means then you haven’t overcomitted to your 529s. Blue man depends on circumstances.........if this little Roth is their only Roth, the earnings if withdrawn early are subject to both tax an...
by miamivice
Sun Jan 14, 2018 10:17 am
Forum: Investing - Help with Personal Investments
Topic: Funding 529s and retirement from taxable investment accounts
Replies: 11
Views: 808

Re: Funding 529s and retirement from taxable investment accounts

Every year my wife and I make an annual contribution to our children's 529 and our individual Roth IRAs. In the past we've been able to fund these with savings, while still keeping our emergency savings amount intact. This year will be different and my question is should we liquidate any of our tax...
by miamivice
Sun Jan 14, 2018 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Rolling old Roth IRAs to 529s
Replies: 22
Views: 780

Re: Rolling old Roth IRAs to 529s

no. leave them alone. your kids can borrow for college. you cant borrow for retirement. you can also pass them along to your kids when you die. I disagree with this advice. It is easily possible to save up too much for your own retirement, and in doing so, saddle your children with college debt whi...
by miamivice
Thu Jan 11, 2018 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Any downside to paying with HSA?
Replies: 21
Views: 1747

Re: Any downside to paying with HSA?

Are you maxing out your retirement accounts? If you aren't maxing out, then you should pay from the HSA. Paying $3000 from the HSA lets you contribute $3000 more to, say, a Roth IRA, which will also grow tax-free but can be spent on anything in retirement. If you are maxing out, then you should pay...
by miamivice
Thu Jan 11, 2018 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Any downside to paying with HSA?
Replies: 21
Views: 1747

Re: Any downside to paying with HSA?

Since HSA is much greater tax advantaged than 401k/Roth IRA/Trad IRA; I am prioritizing HSA over retirement. Of course, the improved tax advantage is only if the money is used for medical purposes. Sadly, I think we all will have enough medical expenses in retirement to fully use a HSA for medical p...
by miamivice
Thu Jan 11, 2018 2:49 pm
Forum: Personal Consumer Issues
Topic: Car accident - was directed to sign release
Replies: 71
Views: 4842

Re: Car accident - was directed to sign release

OP, Are you guessing at "maybe $1000 in damage" or do you have an actual written estimate? Have you been to the body shop recently? There may be more to the repair than you think. The repair costs are very high and unless very very minor there is a chance it will cost more than $1000. The repair sh...
by miamivice
Thu Jan 11, 2018 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: What career related challenges can one pursue after age 40?
Replies: 13
Views: 1418

What career related challenges can one pursue after age 40?

I think I'm hitting a mid-life crisis, or something like that. For much of my life, I have been pursuing goals in life. Graduating from high school. Graduating from college. Obtaining a professional license. Graduating from graduate school. Landing a dream job. Getting married. Having kids. Buying a...
by miamivice
Thu Jan 11, 2018 11:00 am
Forum: Personal Consumer Issues
Topic: Car accident - was directed to sign release
Replies: 71
Views: 4842

Re: Car accident - was directed to sign release

Seems like there's a tendency here to milk the insurance company for the maximum payout, irrespective of actual damages. In addition to a new car seat, maybe you should have them replace all of your seat belts? Most auto manufacturers suggest that the seat belts be replaced in all occupied seating ...
by miamivice
Thu Jan 11, 2018 10:48 am
Forum: Personal Consumer Issues
Topic: Car accident - was directed to sign release
Replies: 71
Views: 4842

Re: Car accident - was directed to sign release

Why would you assume the car seat needs to be replaced? Was it damaged? Car seats typically sell for $50 to $100, so .... unclear on your basis for that claim. You can google car seat accident and see that it's common to replace them when a car has been in an accident. I'm not sure where you pick u...
by miamivice
Thu Jan 11, 2018 10:42 am
Forum: Personal Consumer Issues
Topic: Car accident - was directed to sign release
Replies: 71
Views: 4842

Re: Car accident - was directed to sign release

Why would you assume the car seat needs to be replaced? Was it damaged? Car seats typically sell for $50 to $100, so .... unclear on your basis for that claim. You can google car seat accident and see that it's common to replace them when a car has been in an accident. I'm not sure where you pick u...
by miamivice
Thu Jan 11, 2018 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Pay off student loans after kid graduates?
Replies: 35
Views: 2175

Re: Pay off student loans after kid graduates?

One trick you might want to look into ASAP - Can you do a quick contribution into a 529, get a state deduction - and use that? I'm not sure that is possible or not, but something that might turn out to juice your own state tax load. I'm pretty sure you cannot use 529 money to pay off student loans.
by miamivice
Thu Jan 11, 2018 10:06 am
Forum: Personal Consumer Issues
Topic: Car accident - was directed to sign release
Replies: 71
Views: 4842

Re: Car accident - was directed to sign release

My wife was in a car accident (her car was rear ended while she was turning right at a stop light). Did maybe $1000 in damages to her car plus injured her hand. She had to take a few hours off work without pay as a result of the accident. We have incurred about $700 in medical bills so far. The med...
by miamivice
Thu Jan 11, 2018 10:00 am
Forum: Personal Consumer Issues
Topic: Car accident - was directed to sign release
Replies: 71
Views: 4842

Re: Car accident - was directed to sign release

Would a lawyer want to get involved with a minor auto accident, where the out of pocket costs are less than $2000?
by miamivice
Thu Jan 11, 2018 9:46 am
Forum: Personal Consumer Issues
Topic: Car accident - was directed to sign release
Replies: 71
Views: 4842

Re: Car accident - was directed to sign release

Why are you dealing with the other party's insurance company? You should have your insurance company represent you (that's what they are "hired" by you to do) My understanding is that I could have filed a collision claim against my own insurance company, they would have repaired my car, and then th...
by miamivice
Thu Jan 11, 2018 9:32 am
Forum: Personal Consumer Issues
Topic: Diminished value claim - small claims court
Replies: 23
Views: 1242

Re: Diminished value claim - small claims court

OK - what if we turn the situation around and suppose this does not involve insurance. You do damage to my car and it is your fault. Complete repair of the damage costs $1,000 -- BUT I (legitimately) claim my car now has "diminished value" (after the repair) of $2,000. In addition to having paid th...
by miamivice
Thu Jan 11, 2018 9:28 am
Forum: Personal Consumer Issues
Topic: Diminished value claim - small claims court
Replies: 23
Views: 1242

Re: Diminished value claim - small claims court

It can be tricky, since you do not have a contract with state farm and may have to sue in the court where they are headquartered. This as opposed to suing your own insurance company, where you would have the option of filing in the court where the contract was established. Other than that, small cl...
by miamivice
Thu Jan 11, 2018 9:26 am
Forum: Personal Consumer Issues
Topic: Car accident - was directed to sign release
Replies: 71
Views: 4842

Car accident - was directed to sign release

My wife was in a car accident (her car was rear ended while she was turning right at a stop light). Did maybe $1000 in damages to her car plus injured her hand. She had to take a few hours off work without pay as a result of the accident. We have incurred about $700 in medical bills so far. The medi...
by miamivice
Thu Jan 11, 2018 8:56 am
Forum: Personal Finance (Not Investing)
Topic: Liability Issues with Organizing Meetup Events
Replies: 10
Views: 1286

Re: Liability Issues with Organizing Meetup Events

I'm a member of a pretty large organization and have been asked to organize some outings on Meetup.com. I've also thought about starting my own organization and having a Meetup group for it. All of the activities will be legal and I obviously wouldn't force anyone to do anything, but they will be a...
by miamivice
Tue Jan 09, 2018 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: Any downside to paying with HSA?
Replies: 21
Views: 1747

Re: Any downside to paying with HSA?

HSA money is the only money triple tax advantaged: You put money in pretax, it's gains are tax free, and if used for medical, withdrawals are tax free. That's a huge benefit. For our HSA, we have opted to use it as another retirement vehicle, with this retirement vehicle dedicated to paying medical ...