Search found 296 matches

by Miguelito
Wed May 13, 2020 9:43 am
Forum: Personal Finance (Not Investing)
Topic: How to consider home improvement expenses
Replies: 25
Views: 1276

Re: How to consider home improvement expenses

Thanks for all the replies. I’m leaning towards just considering it all expense. FYI, the renovations we’re doing are adding crown moulding and board and batten to the kitchen and living rooms. Also adding subway tile backsplash to kitchen. Yeah those aren't worth factoring into your homes value by...
by Miguelito
Wed Mar 18, 2020 7:06 pm
Forum: US Chapters
Topic: How Is Your Job Being Impacted By The Current Crisis?
Replies: 503
Views: 50399

Re: How Is Your Job Being Impacted By The Current Crisis?

Manufacturing side of the company I work for is still working. White collar employees who are not factory-critical are working from home. Temporary help (tiny % of employees) was let go and hiring and spending is frozen. I suspect my job is fairly safe unless orders plummet, in which case I'd probab...
by Miguelito
Thu Feb 27, 2020 9:21 am
Forum: Investing - Theory, News & General
Topic: Coronavirus and the market
Replies: 3949
Views: 296661

Re: Coronavirus and the market

In my opinion, there is no need to panic and worry over about an apocalyptic breakdown in society and total economic collapse. If, and that's a huge if, that ever happens, it would first have happened much earlier and in far worse ways to several other countries. In my opinion, the near-impossible, ...
by Miguelito
Wed Feb 12, 2020 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Rolling old 401k into current 401k. Turn funds into cash first?
Replies: 15
Views: 759

Re: Rolling old 401k into current 401k. Turn funds into cash first?

Just to close the loop, I made the transfer yesterday and was told all securities would be liquidated by end of day. The check is being issued today with values as of closing day yesterday. So that was quick and painless. I paid the extra few bucks for expedited delivery to avoid a few extra days of...
by Miguelito
Tue Feb 11, 2020 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Rolling old 401k into current 401k. Turn funds into cash first?
Replies: 15
Views: 759

Re: Rolling old 401k into current 401k. Turn funds into cash first?

Brianmcg321 wrote:
Mon Feb 10, 2020 4:44 pm
Until what is over? When is it going to end? Let me know, as I would be really interested.
Until the transaction is complete.

Not sure why you would be interested to know when the money arrives at my current 401k. :wink:
by Miguelito
Tue Feb 11, 2020 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Rolling old 401k into current 401k. Turn funds into cash first?
Replies: 15
Views: 759

Re: Rolling old 401k into current 401k. Turn funds into cash first?

Elysium wrote:
Tue Feb 11, 2020 9:12 am
Why as an in-kind transfer not considered? This should be the first option.
I could ask, but I know for a fact that my old employer has its own funds, so they do not map exactly.
by Miguelito
Tue Feb 11, 2020 8:53 am
Forum: Personal Finance (Not Investing)
Topic: Rolling old 401k into current 401k. Turn funds into cash first?
Replies: 15
Views: 759

Re: Rolling old 401k into current 401k. Turn funds into cash first?

I'm sure eventually it will be turned to cash to issue the check for the new trustee. I guess the question I have is that based on the 2-4 week time period I am being given (let's call it 20 days), I don't know when along those 20 days they will liquidate the funds. Maybe it's on day 1, but maybe it...
by Miguelito
Mon Feb 10, 2020 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Rolling old 401k into current 401k. Turn funds into cash first?
Replies: 15
Views: 759

Re: Rolling old 401k into current 401k. Turn funds into cash first?

Just to be clear, once the assets are transferred they will be set up in my existing AA. Turning the funds into cash during the transfer is simply meant to hit the pause button on potential volatility until it's over.
by Miguelito
Mon Feb 10, 2020 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Rolling old 401k into current 401k. Turn funds into cash first?
Replies: 15
Views: 759

Rolling old 401k into current 401k. Turn funds into cash first?

The rollover process to consolidate my old 401k into my current 401k could take a couple of weeks or more I'm told. Given that the market is pretty high, should I not first sell all funds into cash reserves or equivalent and the begin the process? I'd hate to get a bad case of market timing on such ...
by Miguelito
Wed Jan 29, 2020 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Daughter's Boston Job Offer
Replies: 115
Views: 9612

Re: Daughter's Boston Job Offer

Every industry is different, but theres so many variables to consider here such as: prestige of her school, GPA, class rank, internships, industry etc. Agreed. And the role matters a lot as well. You can be a mech engineer, but even in the same company, one working in product development/R&D may we...
by Miguelito
Mon Jan 27, 2020 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: 15yr vs 30yr mortgage
Replies: 33
Views: 2947

Re: 15yr vs 30yr mortgage

Devil's Advocate wrote:
Mon Jan 27, 2020 11:35 am
There is a cost associated with paying a 30 off like it was a 15...that difference could be considered insurance.

DA
Agreed. Especially when you rely on a renter.
by Miguelito
Thu Jan 23, 2020 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43493

Re: Engineers - What are you making? ($$$)

Arpek wrote:
Thu Jan 23, 2020 12:30 am
I’m a software engineering manager in Boston at $160k salary and 20% target bonus.
That sounds right to me.
by Miguelito
Wed Jan 22, 2020 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43493

Re: Engineers - What are you making? ($$$)

I find a lot of these incomes to be surprisingly high. I've worked at a few employers in the suburbs of a HCOLA, and right now, for mechanical engineers , the starting salary is ~$80k for a good candidate. A senior engineer with say 8-10 years probably makes ~$120k. A principal engineer with 15+ yea...
by Miguelito
Thu Jan 09, 2020 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Buying Car - buy outright or finance?
Replies: 59
Views: 5179

Re: Buying Car - buy outright or finance?

Trader Joe wrote:
Thu Jan 09, 2020 4:00 pm
I always pay in full and I sleep well at night.
Why would financing affect your sleep if you can afford it?

Financing because that is the only way you can afford an expensive car is one thing. Financing because it is a better financial move is different.
by Miguelito
Thu Oct 24, 2019 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Spending Money - Surprising Low Fun Return
Replies: 58
Views: 6649

Re: Spending Money - Surprising Low Fun Return

I love my nice car. I love my nice house. I'd be even happier in a more expensive house and an even more expensive nice car(s). You can't get those sounds out of cheap cars. Nice clothes feel nicer than cheap ones. They also fit better. They also last longer. Nice tools work and feel better than che...
by Miguelito
Sun Oct 06, 2019 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: Tactics to pay off Mortgage Early??
Replies: 63
Views: 7241

Re: Tactics to pay off Mortgage Early??

I would start by asking you to define “early.” Are you aiming to pay it off many years ahead of schedule (which would require a strong commitment and a decent percentage of the mortgage payment worth of additional payment per month) or do you mean how can you sneak a bit more towards your payment wi...
by Miguelito
Tue Sep 17, 2019 10:40 am
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford?
Replies: 15
Views: 1302

Re: How much house can we afford?

I won't get into the minutia, but it seems to me you have a robust retirement account and are diligent about contributing to them, so I would not worry about the long term too much. You also have enough to put down 20% on any house in the range you are considering. To me it's about cash flow. You me...
by Miguelito
Fri Sep 13, 2019 7:22 am
Forum: Personal Finance (Not Investing)
Topic: Paying off mortgage early - am I thinking about this right?
Replies: 127
Views: 11945

Re: Paying off mortgage early - am I thinking about this right?

The other thing I'd say on mortgage payoffs to consider is what % of your total annual expenditure is your mortgage P&I? If it's 25% I can see the desire to pay it off right away, but if it's 10%....or 15%? There are other big recurring expenses that won't go away: Federal tax, state income tax, lo...
by Miguelito
Thu Sep 12, 2019 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area budget for $350k family income
Replies: 94
Views: 8270

Re: Bay Area budget for $350k family income

Childcare + preschool - $24,000 per year (no way paying for babysitting - that will reduce eating out expenses and the obligation to party with Joneses too) $24,000 is accurate for 1 kid but certainly not 2. We were paying 3,300/month for two toddler/preschool-aged kids 8 years ago at a good place ...
by Miguelito
Thu Sep 12, 2019 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area budget for $350k family income
Replies: 94
Views: 8270

Re: Bay Area budget for $350k family income

Well said! I will add one more point to this. Just like there is a false sense at the lower end of the income ladder that the high income people (ie. making $350K+ .. top 2% by income for the US) fly by private jet, and have super cars and such. There is a false sense among the high income folks of...
by Miguelito
Thu Sep 12, 2019 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Bay Area budget for $350k family income
Replies: 94
Views: 8270

Re: Bay Area budget for $350k family income

No one should feel bad, it's just that reality is not the visions of wealth people making $50k envision when they think of $400k. I recall the days back when Obama wanted to institute higher taxes on those making over $250k, every article lead with a photo of a couple walking on a tarmac from a Rol...
by Miguelito
Thu Sep 12, 2019 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Bay Area budget for $350k family income
Replies: 94
Views: 8270

Re: Bay Area budget for $350k family income

That life is decidedly not middle class. Also, I don't see that budget being Bay Area-specific. It would apply to many places, particularly in the northeast. The point should be that $350k (or $500k) does not lead to a life of unrestrained luxury, which is what many in America believe. I see/hear th...
by Miguelito
Fri Sep 06, 2019 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: 90/10 LTV HELOC?
Replies: 11
Views: 988

Re: 90/10 LTV HELOC?

Do you want cash out? HELOC = Home Equity Line of Credit I'm confused by your statement that "rates are very low right now" as HELOCS are variable, and will increase as prime does. They are also significantly higher, after any promo rate, than a fixed rate mortgage loan would be, so doesn't make an...
by Miguelito
Fri Sep 06, 2019 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Percentage Calculation
Replies: 51
Views: 3533

Re: Savings Percentage Calculation

Here is how I calculate my savings rate on a yearly basis: Salary + Bonus + 401k match + HSA match = income Savings = money added to 401k (including match), HSAs (including match), IRAs, taxable accounts, savings accounts Savings / Income = savings rate So putting example numbers to it: Salary = $1...
by Miguelito
Thu Sep 05, 2019 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off mortgage early - am I thinking about this right?
Replies: 127
Views: 11945

Re: Paying off mortgage early - am I thinking about this right?

Option 2 does not reduce your risk. What happens if the market drops? You can't rebalance from your home equity. If your AA is too aggressive, then adjust your AA. Fair enough, but we contribute a lot of money into the market every year. I don't have to use my house equity to rebalance. All I have ...
by Miguelito
Thu Sep 05, 2019 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Percentage Calculation
Replies: 51
Views: 3533

Re: Savings Percentage Calculation

I don't really care about my actual savings rate. It is very high, but I do not aim for a specific target. The calculation used: Total Savings + 403B Match / Gross Income Some will argue against the match being included, but that is how I calculate it. I see you added the company match. I was curio...
by Miguelito
Wed Sep 04, 2019 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off mortgage early - am I thinking about this right?
Replies: 127
Views: 11945

Re: Paying off mortgage early - am I thinking about this right?

Basically what you are saying is that the remaining mortgage is relatively small compared to your net worth and at this point in your life you are OK with losing some potential growth on that small amount so that you can have an increase in cashflow. You are rich enough to forgo some small gains. I...
by Miguelito
Wed Sep 04, 2019 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off mortgage early - am I thinking about this right?
Replies: 127
Views: 11945

Re: Paying off mortgage early - am I thinking about this right?

No, you're not. A bond (or bond fund) is not the same as a house, regardless of whether the mortgage rate and the yield of the bond/fund are equivalent. This is a misconception. One is a cash equivalent, one is not. It's possible to lose a small amount of principal if one is forced to sell a bond/f...
by Miguelito
Wed Sep 04, 2019 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Paying off mortgage early - am I thinking about this right?
Replies: 127
Views: 11945

Re: Paying off mortgage early - am I thinking about this right?

Interesting and well-timed discussion. Not to humble brag, but I was just realizing that, hypothetically, if we were to liquidate all taxable accounts and throw in all savings, we could probably just barely pay off the mortgage balance. As a result, all sorts of thought exercises started coming to m...
by Miguelito
Thu Aug 22, 2019 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: What do people do with finances as they approach very old age?
Replies: 17
Views: 3141

What do people do with finances as they approach very old age?

The thought came to me as my mom spoke to me of yet another aunt of hers who died in her late 90's. In the case of that great aunt, she had no kids left as they all had passed earlier. That brought me to the thought of what you do financially when you approach very old age especially as we usually d...
by Miguelito
Mon Aug 19, 2019 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Increasing extra mortgage payments later in the term worth it?
Replies: 9
Views: 1217

Re: Increasing extra mortgage payments later in the term worth it?

I typically round up my payment to the nearest $50 or $100. I don;t notice it at all (admittedly, it's a big, 15-year loan payment) and I've already shaved one month.
by Miguelito
Mon Aug 19, 2019 7:20 am
Forum: Personal Finance (Not Investing)
Topic: HCOL savings rates
Replies: 43
Views: 3940

Re: HCOL savings rates

Not in CA, but curious as to what you mean by savings. All funds added to retirement/taxable investment/cash accounts? Do you also include principal, 529's, HSA's, and other?
by Miguelito
Fri Aug 09, 2019 7:38 am
Forum: Personal Investments
Topic: What to do with my money
Replies: 10
Views: 1523

Re: What to do with my money

Not to derail this thread any further, but while I am perfectly ok with altering the facts a bit for the sake of privacy, the extent of the difference in posted ages is enough to significantly change the advice one would receive. That makes very little sense unless the OP is posting on behalf of man...
by Miguelito
Wed Aug 07, 2019 6:33 pm
Forum: Investing - Theory, News & General
Topic: Staying the AA course even in market extremes?
Replies: 22
Views: 1617

Re: Staying the AA course even in market extremes?

Not near retirement - at least 15 years to go. Yes, I was working during the great recession. I was younger then and stayed at 100% stock throughout but all my investments then were through my 401k. Currently I am at about 85/15. Keep in mind that if stocks drop 30%, your AA will be out whack -- yo...
by Miguelito
Wed Aug 07, 2019 2:18 pm
Forum: Investing - Theory, News & General
Topic: Staying the AA course even in market extremes?
Replies: 22
Views: 1617

Re: Staying the AA course even in market extremes?

So stick with 85/15. If you're comfortable with it. Can you afford to lose 40-45% of your portfolio's value? Has this happened to you? Yet? My portfolio dropped over 40% during the great recession. I would not be nearly as ok with it this time around since I am 11 years older, but I do have 15% pro...
by Miguelito
Wed Aug 07, 2019 2:16 pm
Forum: Investing - Theory, News & General
Topic: Staying the AA course even in market extremes?
Replies: 22
Views: 1617

Re: Staying the AA course even in market extremes?

Your AA should reflect your long-term need, ability, and willingness to take risk. That does not change based on short term market conditions. Understood, but this is not about short-term market conditions. Hypothetically, let's say over the next 18 months the market loses 25% and I stayed the cour...
by Miguelito
Wed Aug 07, 2019 2:02 pm
Forum: Investing - Theory, News & General
Topic: Staying the AA course even in market extremes?
Replies: 22
Views: 1617

Re: Staying the AA course even in market extremes?

How old are you? Are you near retirement? Have you ever suffered a bear market (1987, 2000-2002, 2008)? What's your current AA? Not near retirement - at least 15 years to go. Yes, I was working during the great recession. I was younger then and stayed at 100% stock throughout but all my investments...
by Miguelito
Wed Aug 07, 2019 1:17 pm
Forum: Investing - Theory, News & General
Topic: Staying the AA course even in market extremes?
Replies: 22
Views: 1617

Staying the AA course even in market extremes?

I understand that following the course for a given AA and doing periodic rebalancing should take care of all fluctuations. But what about after the market has had a prolonged loss or gain? Is it really market timing to go to a (far) more aggressive AA if the market has gone down 30%? You could make ...
by Miguelito
Tue Aug 06, 2019 8:19 am
Forum: Personal Investments
Topic: Buy During This Dip?
Replies: 99
Views: 13579

Re: Buy During This Dip?

I am always hesitant to buy at market highs. I had some money to invest a couple of weeks ago, but decided to wait a bit from market highs and then until after our vacation. We got back this past weekend and I happened to get a ~6% discount by waiting.I only invested 1/3 of the funds I had to invest...
by Miguelito
Sat Jul 27, 2019 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: Dependent care FSA
Replies: 8
Views: 723

Re: Dependent care FSA

You cannot use FSA for a nanny off the books. To go on the books, you need to become a "household employer." You need to get worker's comp and withhold FICA (including your portion as an employer). You don't have to withhold Federal & state tax, but need to explain clearly to your employee the he/sh...
by Miguelito
Mon Jul 22, 2019 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: What two or three financial things to do to wind up wealthy regardless if you make numerous other financial mistakes?
Replies: 85
Views: 10003

Re: What two or three financial things to do to wind up wealthy regardless if you make numerous other financial mistakes

If you make very bad financial mistakes often enough, nothing will save you from financial ruin. But within reason, assuming that when you say "save" you mean put the money away in a low-cost, well-allocated portfolio, then sure, many of the things above will help. But many of them really just boil ...
by Miguelito
Mon Jul 22, 2019 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of children
Replies: 49
Views: 2235

Re: Cost of children

Ignoring all the drama above, and speaking strictly about child care, our kids are late in their elementary school years in a HCOL area. When they were young (toddler age), costs were ~$40k/year for both. It got a little better as they approached kindergarten. Since then, the cost of camps (nothing ...
by Miguelito
Fri Jul 19, 2019 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Small over-contribution to 401k. Can I do nothing about it?
Replies: 2
Views: 547

Re: Small over-contribution to 401k. Can I do nothing about it?

Thanks. Frankly I do not recall what Turbo Tax did, but I think it claimed the full 19,050. I'll check tonight at home.
by Miguelito
Thu Jul 18, 2019 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Small over-contribution to 401k. Can I do nothing about it?
Replies: 2
Views: 547

Small over-contribution to 401k. Can I do nothing about it?

I switched jobs last year. Fully aware of the fact that I could over-contribute to my 401k if I did not watch it, I planned and adjusted my percentage contributions with my new employer so that I would be at or slightly under the 19k limit for the year between both employers. Well, despite assurance...
by Miguelito
Tue Jul 02, 2019 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Would we regret buying a 2nd home?
Replies: 90
Views: 9839

Re: Would we regret buying a 2nd home?

I am firmly in the camp of not wanting a second home due to maintenance. I am a skilled and meticulous DIYer and I know I would not stop worrying about it. Even investing in cameras and smart water shut-off devices, etc. it would still drive me nuts. That said, it's still annoying to look for availa...
by Miguelito
Thu Jun 13, 2019 6:32 pm
Forum: Personal Investments
Topic: Purchasing home with less than 20% downpayment experiences?
Replies: 52
Views: 3947

Re: Purchasing home with less than 20% downpayment experiences?

We bought our 1st home with a 10/10/80 loan (never paid PMI). We only had 5% of our own and borrowed from family for the other 5%. But it was a good size home and we were starting out our good careers and had just married. Within one year we paid back the family loan and in the next 3 years paid bac...
by Miguelito
Mon May 20, 2019 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: FIRE - What am I missing in the News Stories
Replies: 223
Views: 16166

Re: FIRE - What am I missing in the News Stories

If you were 100% retired now, you could be 100% on vacation. It is an easier problem than figuring out how to get employed. Sure, but I don't know that I would want to be 100% on vacation indefinitely. That's how I feel right now at least. I probably wouldn’t call it vacation. It’s more like a cons...
by Miguelito
Mon May 20, 2019 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: FIRE - What am I missing in the News Stories
Replies: 223
Views: 16166

Re: FIRE - What am I missing in the News Stories

flyingaway wrote:
Sun May 19, 2019 7:36 pm
If you were 100% retired now, you could be 100% on vacation. It is an easier problem than figuring out how to get employed.
Sure, but I don't know that I would want to be 100% on vacation indefinitely. That's how I feel right now at least.
by Miguelito
Sun May 19, 2019 11:19 am
Forum: Personal Finance (Not Investing)
Topic: FIRE - What am I missing in the News Stories
Replies: 223
Views: 16166

Re: FIRE - What am I missing in the News Stories

I agree with all the comments. In addition, now in my early 40's, I couldn't fathom not working in my field. I'd love longer vacations, but I dunno what I'd do with my time if I 100% retired now. I have trouble imagining being retired at 50 even if I could do so comfortably. In large part it's becau...