Search found 63 matches

by Count of Notre Dame
Thu Oct 31, 2019 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: How do I make more money with my accounting degree?
Replies: 29
Views: 2975

Re: How do I make more money with my accounting degree?

I live in Southern California, and those that make more than about $150k per year work on average 50-55 hour weeks. The public accounting firms pay below average compensation, I would look to leave and move into the private sphere.
by Count of Notre Dame
Thu Oct 31, 2019 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Budget tracking with CC "float"
Replies: 19
Views: 960

Re: Budget tracking with CC "float"

What is your objective? Tracking spending as it is incurred will tell you something about your behavior. Tracking cash flow (when the CC is paid) will help you to allocate surplus cash to investing. I personally look at my cash balance at the very end of the month, look up the statement balance of e...
by Count of Notre Dame
Sun Sep 29, 2019 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Staying the course is so hard (support thread)
Replies: 141
Views: 14983

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

Hi all - I'm trying my best to stay the course. I'm 38, I'd love to retire in 13 years. I say 13 years because my mortgage (15 year bi-weekly payments) finishes then, and thats the same time my kid turns 18, so no more child support, and she'll have a healthy 529 by then. I'm trying to stay the cou...
by Count of Notre Dame
Sun Sep 29, 2019 10:08 am
Forum: Personal Finance (Not Investing)
Topic: 529 Qualified Expenses (K-12 Private School)
Replies: 9
Views: 287

Re: 529 Qualified Expenses (K-12 Private School)

TIAX wrote:
Sun Sep 29, 2019 10:04 am
If you have the expenses now why not just use the 529 now?
I'd rather pay them out of pocket now and let the tax-deferred growth compound longer, similar to an HSA.
by Count of Notre Dame
Sun Sep 29, 2019 10:02 am
Forum: Personal Finance (Not Investing)
Topic: 529 Qualified Expenses (K-12 Private School)
Replies: 9
Views: 287

529 Qualified Expenses (K-12 Private School)

Hi Everyone, I am currently paying ~$18k per child for my two daughters attending a K-12 private school. I am also funding a 529 plan at the same time. If I do not withdraw the money now, can I withdraw it later and count their past tuition (I think the current limit is $10k per year) against future...
by Count of Notre Dame
Fri Sep 27, 2019 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: Success stories of NOT buying more/too much house
Replies: 109
Views: 18304

Re: Success stories of NOT buying more/too much house

I would wager that Buffet has given more to charity than most everyone on this forum will earn in our lifetimes, combined. Miser is a ridiculous word to use to describe him. Warren Buffett has pledged to give the majority of his fortune to the Gates Foundation and other charities. The total value o...
by Count of Notre Dame
Fri Sep 27, 2019 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford around a $2M home?
Replies: 31
Views: 4098

Re: Can I afford around a $2M home?

My wife and I currently own a condo in VHCOL and are contemplating a home purchase in the suburbs in 2020 or 2021. We have two toddlers. We're trying to figure out 1) TIMING of the purchase and 2) PRICE RANGE that we should be looking at. We would like to hold on to our current home and rent it out...
by Count of Notre Dame
Sun Sep 22, 2019 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: A story, and a feeling of financial under-accomplishment
Replies: 49
Views: 13177

Re: A story, and a feeling of financial under-accomplishment

Congrats! You have come a long way, and a bachelors in IT will open a lot of doors, especially of you can code and learn quickly. No debt gives you a lot of personal options also. Don't let the high earners discourage you. They often discourage me, but again, many have had it worse than you. The Bo...
by Count of Notre Dame
Sun Sep 22, 2019 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: What next? A personal finance story starting in 2012, updated in 2016, and again in 2018
Replies: 51
Views: 6200

Re: What next? A personal finance story starting in 2012, updated in 2016, and again in 2018

I find the psychology behind these posts so different than mine I am always fascinated to read them. What I mean by that statement is that you are so focused on eeking out the very best of returns, when you could simplify your life greatly by selling your taxable investments, using your cash just si...
by Count of Notre Dame
Sun Sep 22, 2019 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Success stories of NOT buying more/too much house
Replies: 109
Views: 18304

Re: Success stories of NOT buying more/too much house

When it comes to success stories, Warren Buffett has been asked why he doesn't have a house that many billionaires have and his standard answer is that he's happy there and he's cool in the summer and warm in the winter. good point.. Buffett is just about the best example you can cite for this thre...
by Count of Notre Dame
Sun Sep 22, 2019 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Success stories of NOT buying more/too much house
Replies: 109
Views: 18304

Re: Success stories of NOT buying more/too much house

We live in Southern California and recently upgraded from a 2,300 sqft ($1.25M) to a 5,700 sqft home ($1.975M). The reasons we did it? I wanted a much bigger lot with entertaining backyard (I watch college football the entire fall), a casita for my sister who lives with us during the week and takes ...
by Count of Notre Dame
Sat Sep 21, 2019 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Need help opening a HELOC
Replies: 20
Views: 1395

Re: Need help opening a HELOC

I was just quoted 6% (after discounts) for a 90/10 LTV with BBVA Compass. Not a great rate, but not too bad as an emergency fund with no plans to touch unless a temporary job loss.
by Count of Notre Dame
Fri Sep 20, 2019 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Take out HELOC or sell bonds for private investment?
Replies: 20
Views: 652

Re: Take out HELOC or sell bonds for private investment?

I took out a line of credit at 4% for a similar investment that ended up making 20% per annum over 4 years. It's certainly going to be viewed as risky by these forums, so make sure this investment is not your entire nest egg and if you lost money it would not impact you significantly.
by Count of Notre Dame
Wed Sep 18, 2019 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Paying "early" on mortgage may be unwise
Replies: 229
Views: 20878

Re: Paying "early" on mortgage may be unwise

My personal approach is to max out all tax-favored accounts (401ks, backdoor IRAs, HSAs) and then payoff debt. My current mortgage rate is 3% on a 7-year ARM, although I could have had 2.75% on a 5 year. I'm going to pay off my wife's student loans first (2.2%), then work on the mortgage as that bal...
by Count of Notre Dame
Sun Sep 15, 2019 9:43 am
Forum: Personal Finance (Not Investing)
Topic: 90/10 LTV HELOC?
Replies: 11
Views: 894

Re: 90/10 LTV HELOC?

Found a HELOC currently @ 4.8% with BBVA Compass. They will go up to 90% LTV, pending the appraisal.
by Count of Notre Dame
Thu Sep 12, 2019 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage refi - pull cash out?
Replies: 25
Views: 1971

Re: Mortgage refi - pull cash out?

Hi Bogleheads, I’m in the middle of a refi on our primary residence mortgage. Property value is 2.6m and we owe about 1.2m. So we have a lot of our net worth tied up in this illiquid asset. The refi rate on the 10/1 ARM is 2.75%. As counterintuitive as it seems, I’m considering pulling a meaningful...
by Count of Notre Dame
Tue Sep 10, 2019 12:50 pm
Forum: Personal Investments
Topic: 28yr/200k Net Worth - Will I reach my short term goals?
Replies: 12
Views: 2780

Re: 28yr/200k Net Worth - Will I reach my short term goals?

Don't completely ignore your personal relationships while you are so focused on your career and money.
by Count of Notre Dame
Mon Sep 09, 2019 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: 90/10 LTV HELOC?
Replies: 11
Views: 894

Re: 90/10 LTV HELOC?

Stickler.

$120k would count under the annual gift tax exclusion - $15k x my two parents x 4 family members.
by Count of Notre Dame
Mon Sep 09, 2019 4:44 pm
Forum: Personal Investments
Topic: CA Resident - What Vanguard Bonds in Taxable Account?
Replies: 21
Views: 2620

Re: CA Resident - What Vanguard Bonds in Taxable Account?

I've seen it mentioned a lot to make sure to max out I-Bonds - why are these such a good investment compared to muni bonds?
by Count of Notre Dame
Sat Sep 07, 2019 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Stressed Over Money 25 Yr. Old
Replies: 65
Views: 5166

Re: Stressed Over Money 25 Yr. Old

I'm 35 with an amazing wife, two kids and two puppies, with only a $700k net worth. I would trade all of my wealth to continue to have my family. I would focus more on building a family and friends who are supportive and engaging. Most studies show that those who have these things live longer, happi...
by Count of Notre Dame
Sat Sep 07, 2019 10:46 am
Forum: Personal Finance (Not Investing)
Topic: 90/10 LTV HELOC?
Replies: 11
Views: 894

Re: 90/10 LTV HELOC?

That's correct - looking to cash out. I borrowed $200k from my mother and I feel obligated to pay her back quickly, although the loan with her is interest free.
by Count of Notre Dame
Fri Sep 06, 2019 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: 90/10 LTV HELOC?
Replies: 11
Views: 894

90/10 LTV HELOC?

Do any banks offer a HELOC as a secondary lien for the 80 to 90% portion of the value of your home? I originally wanted a 10% down mortgage, but my bank required 20% at the time and I couldn't find a good rate. Rates seem to be very low right now, are there any products out there with a good rate ar...
by Count of Notre Dame
Sun Sep 01, 2019 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: Moving for better public schools?
Replies: 64
Views: 5369

Re: Moving for better public schools?

We pay for two private school educations. Is it worth it? I think our kids get exposed to more interesting and enriching things than at their former public school, and I am hoping they will find their passions. Will it mean they get into a better college? My personal experience has been that college...
by Count of Notre Dame
Fri Aug 30, 2019 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Minimum to keep in checking account?
Replies: 40
Views: 3265

Re: Minimum to keep in checking account?

This should depend on your average monthly spending and the delta in that number from month to month. For instance, I keep a $40k balance at each month end because ~$20k hits my bank account in the first two weeks of the month, and I need to maintain a $20k balance at my bank to keep my low student ...
by Count of Notre Dame
Tue Aug 14, 2018 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Big 4 Who Jumped to Industry - Compensation
Replies: 35
Views: 9227

Re: Big 4 Who Jumped to Industry - Compensation

This was a long time ago but I received a 50% raise. I felt like I was on vacation working 40-45 hours per week. Also, public accounting is horribly inefficient for the firm. Each engagement team turns over each year and the newbies spend all of busy season learning the new client only to repeat it ...
by Count of Notre Dame
Tue Aug 14, 2018 10:59 am
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 48
Views: 6159

Re: After Tax Savings Rate

Apparently our savings rate is 65%, but I'm counting our employer's contribution to the 401k and our principal paydown on all of our "forced" savings. Not a great measure of discipline, but nonetheless tells us we're on track for "FI" in about 10-15 years, if we were able to tap our 401ks - which w...
by Count of Notre Dame
Mon Aug 13, 2018 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 48
Views: 6159

Re: After Tax Savings Rate

Apparently our savings rate is 65%, but I'm counting our employer's contribution to the 401k and our principal paydown on all of our "forced" savings. Not a great measure of discipline, but nonetheless tells us we're on track for "FI" in about 10-15 years, if we were able to tap our 401ks - which we...
by Count of Notre Dame
Mon Aug 13, 2018 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: Mid 30s Crisis: Personal budget, savings and goals
Replies: 36
Views: 7688

Re: Mid 30s Crisis: Personal budget, savings and goals

Hello and welcome to the forum! Your crisis is not due to financial concerns. It's something else - stop looking at your social media, stop looking at your co-workers, stop watching HGTV. You are doing fantastic! How many employers offer a $25K match? - I can count them on two fingers, I know of on...
by Count of Notre Dame
Sat Aug 11, 2018 12:10 pm
Forum: Personal Investments
Topic: Investment Projection Software?
Replies: 3
Views: 471

Re: Investment Projection Software?

Just use excel's future value formula. Plug in the assumptions in separate cells from the FV formula itself so you can change them to play with your outcome.
by Count of Notre Dame
Thu Aug 09, 2018 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1091
Views: 307081

Re: Share your net worth progression

Incendiary wrote:
Sun Jan 07, 2018 10:18 am
Count of Notre Dame wrote:
Sat Jan 06, 2018 1:43 pm
34-year old married couple with two kids. I'm in investment operations for a mutual fund complex and she's an OB-GYN doc.

https://imgur.com/a/Ax4I2
What are non taxable investments?
401ks and IRAs.
by Count of Notre Dame
Sat Jan 06, 2018 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 88
Views: 8994

Re: Home Affordability [check my calculations]

Nice win against your rivals to end the year!
by Count of Notre Dame
Sat Jan 06, 2018 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Should I take this promotion?
Replies: 26
Views: 2711

Re: Should I take this promotion?

This feels like exactly where I'm at in my career.
by Count of Notre Dame
Sat Jan 06, 2018 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1091
Views: 307081

Re: Share your net worth progression

34-year old married couple with two kids. I'm in investment operations for a mutual fund complex and she's an OB-GYN doc.

https://imgur.com/a/Ax4I2
by Count of Notre Dame
Sat Jan 06, 2018 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 88
Views: 8994

Re: Home Affordability [check my calculations]

I can't believe how quickly time passes. This strategy worked out for us, mostly because we continued to keep our spending in check as our income increased (my wife was promoted to partner in her medical practice). Right now I am focusing on paying down debt but leveraging as new investment opportun...
by Count of Notre Dame
Wed Jun 07, 2017 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Selling practice for a lump sum
Replies: 51
Views: 9060

Re: Selling practice for a lump sum

I forgot... SHOP AROUND! If you're for sale, see who else is buying. We were solicited out of nowhere, causing much internal discussion. Then we called 3-4 national firms, announcing we were considering a buyout. Presto, 2 more offers, one of which had an 10x earnings multiple - I think the others ...
by Count of Notre Dame
Wed Jun 07, 2017 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Selling practice for a lump sum
Replies: 51
Views: 9060

Re: Selling practice for a lump sum

I forgot... SHOP AROUND! If you're for sale, see who else is buying. We were solicited out of nowhere, causing much internal discussion. Then we called 3-4 national firms, announcing we were considering a buyout. Presto, 2 more offers, one of which had an 10x earnings multiple - I think the others ...
by Count of Notre Dame
Thu Dec 08, 2016 1:31 am
Forum: Personal Investments
Topic: IRR Calculation Fully Leveraged
Replies: 2
Views: 370

IRR Calculation Fully Leveraged

Perhaps a bit too risky for Boglehead eyes, however, I'd thought I'd ask anyway. I recently made a private equity investment of $75k having borrowed the money with a business line of credit @ 4%. The first year income return on the investment was $14k or what is 19%. I attempted to research how to c...
by Count of Notre Dame
Sun Sep 28, 2014 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 88
Views: 8994

Re: Home Affordability [check my calculations]

Is that budget matching your net income? Fwiw, you don't have to live like hermit or finance yourself to the max on everything. There are moderate approaches to life. I have a friend who also had to have a house like that. Bad timing in real estate and a divorce and they had to sell it for 300k bel...
by Count of Notre Dame
Sat Sep 27, 2014 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 88
Views: 8994

Re: Home Affordability [check my calculations]

You're not wrong but I have made a clear plan of when I can be totally debt free (besides mortgage) which is in about 10 years. I never count on my bonuses but will have about an extra $3.5k a month I'll use to pay down debt. I also never factored in my wife's future increase in income (although for...
by Count of Notre Dame
Sat Sep 27, 2014 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 88
Views: 8994

Re: Home Affordability [check my calculations]

Ok I've succumbed to lifestyle inflation. I am prepared for the negative feedback :( We ended up buying a home for $1.04M and will also be adding a pool to the backyard which will bring the total up to $1.12M. The positives are that my wife and will both have a very short commute, the home is brand ...
by Count of Notre Dame
Tue Dec 10, 2013 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Affordability of new home
Replies: 21
Views: 3202

Re: Affordability of new home

My advice would be to do a full budget taking into account any new expenses (such as property taxes and maintenance) tied to the purchase of a home. I use mint.com to track all of my spending and know to the penny how much I can afford.
by Count of Notre Dame
Mon Oct 21, 2013 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 88
Views: 8994

Re: Home Affordability [check my calculations]

We waited 8 years to purchase (rented for 8 years), and it was a fantastic decision. I can understand that you don't want to deprive yourselves, but there's no rush, and 20% does still have some meaning. I would wait at least a year or two to save some money up for emergencies and some semblance of...
by Count of Notre Dame
Sun Oct 20, 2013 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 88
Views: 8994

Re: Home Affordability [check my calculations]

I would offer the advice to buy a home you can live in for 30 years. Buying and selling houses costs a lot of money. I think it is better to buy a $900K house in someplace like Irvine or Laguna Niguel that is close to work than to buy a $600K "starter" house or a $400K house in Temecula with a 2+ h...
by Count of Notre Dame
Sun Oct 20, 2013 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 88
Views: 8994

Re: Home Affordability [check my calculations]

All I wanted was your opinion on the mathematics of my finances and whether I was thinking about the right expenses. It seems a very emotional statement to say someone is entitled just because they aren't putting 20% down on a house. Where does that 20% number even come from? It sounds like you are ...
by Count of Notre Dame
Sun Oct 20, 2013 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 88
Views: 8994

Re: Home Affordability [check my calculations]

I am finding the conservative philosophy of the bogleheads to be quite interesting. What does it mean to be able to afford something? For instance, if I have to take out a loan to buy a car does that mean I can't afford the car? Is having to finance purchases like that a sign I'm not exercising disc...
by Count of Notre Dame
Sun Oct 20, 2013 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 88
Views: 8994

Re: Home Affordability [check my calculations]

I haven't said what I'm going to do yet. Just exploring options. Like I said I haven't asked my parents for money since I was in college (graduated 8 years ago) and don't plan on asking them for money in the future.
by Count of Notre Dame
Sun Oct 20, 2013 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 88
Views: 8994

Re: Home Affordability [check my calculations]

Congratulations on great careers! I recommend the Millionaire Next Door by Thomas Stanley. You have the opportunity to create real wealth for your family by living slightly below your means…. Don’t blow it by over-extending yourself with too much house. Even nice kitchens eventually get old and loo...
by Count of Notre Dame
Sun Oct 20, 2013 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 88
Views: 8994

Re: Home Affordability

I think you are right - I don't think I've factored in the AGI thresholds. Also, worried about getting hit with the AMT but not sure I want to go into that detailed calculation at this point since I don't have any unusual itemized deductions. I wouldn't be too quick to dismiss AMT. We are around yo...
by Count of Notre Dame
Sun Oct 20, 2013 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 88
Views: 8994

Re: Home Affordability [check my calculations]

Forget all the numbers. I think you are insane (no offense intended :happy ) for even thinking about purchasing a home for the original price you listed. 600-700 is still very sketchy to me. I am a physician 5+ years out of fellowship. In general, I think it is a very bad idea to buy a home straigh...