Search found 1049 matches

by Gropes & Ray
Fri Mar 23, 2018 3:11 pm
Forum: Investing - Theory, News & General
Topic: 2018 Hedge Fund contest
Replies: 168
Views: 18317

Re: 2018 Hedge Fund contest

Please lock in my Yelp short.

Mr. Smartypants says the smart stuff* is to bet tech is going up, up, up over the long run.









*Mr. Smartypant's makes no guarantee that his smart stuff stocks will go up. Mr. Smartypants has had a lucky run, but over long term he badly trails the S&P 500.
by Gropes & Ray
Fri Mar 16, 2018 10:00 am
Forum: Personal Finance (Not Investing)
Topic: How does everyone here earn so much?
Replies: 131
Views: 8599

Re: How does everyone here earn so much?

I dismiss almost all of those posts as humble-brags. Sure, someone can honestly wonder if it is optimal to invest their $350k of cash or pay down their million dollar mortgage, but I doubt it keeps them awake at night. I am more interested in helping people in the $40-$150k salary range make a finan...
by Gropes & Ray
Sat Mar 03, 2018 9:08 am
Forum: Personal Finance (Not Investing)
Topic: What was your % pay raise?
Replies: 179
Views: 20598

Re: What was your % pay raise?

Switched jobs for about 10%. Then got a 1.3% increase after 2 months when the year rolled over. I am eligible for an additional 4% on the anniversary of my hiring day.

Still 20% below where I was in 2015.
by Gropes & Ray
Sat Feb 10, 2018 11:05 am
Forum: Personal Consumer Issues
Topic: Buying a rental house. Pay cash or mortgage?
Replies: 21
Views: 2119

Re: Buying a rental house. Pay cash or mortgage?

The IRS looks a mutual gifts between family members to determine if it is a gift or a quid pro quo. The double edged sword here is that the IRS would likely not look at this as mutual gifting if OP profits, but may also could disallow losses as a personal use.
by Gropes & Ray
Wed Feb 07, 2018 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Philadelphia and Pittsburgh local taxes
Replies: 12
Views: 1028

Re: Philadelphia and Pittsburgh local taxes

The answer is, yes, you owe local and state income taxes for the money you earned while in PA. But, I don't know exactly how much. When I lived outside of Pittsburgh but worked downtown, I seem to recall not having to pay the City's income tax because there was some sort of credit for folks who don'...
by Gropes & Ray
Wed Feb 07, 2018 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Philadelphia and Pittsburgh local taxes
Replies: 12
Views: 1028

Re: Philadelphia and Pittsburgh local taxes

I may have jumped to the conclusion that OP was a PA resident but not from Philly or Pittsburgh. PA has a 3.05% state income tax, and virtually every township and school district has a combined 1% income tax. Pittsburgh and Philly get to pile a little extra on top of the 1%. All of these jurisdictio...
by Gropes & Ray
Wed Feb 07, 2018 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Philadelphia and Pittsburgh local taxes
Replies: 12
Views: 1028

Re: Philadelphia and Pittsburgh local taxes

Pittsburgh has a 3% income tax, but I think non-residents get a break on that.
by Gropes & Ray
Sat Feb 03, 2018 9:19 am
Forum: Investing - Help with Personal Investments
Topic: Pension or 457 plan? How do I decide which is best for me?
Replies: 2
Views: 348

Re: Pension or 457 plan? How do I decide which is best for me?

The answer to your closing question is basically yes. Is this CoPera? If so, the benefits from the employer contribution, over your 8%, generally make the pension better than taking DC. But, you have to be in CoPera for 5 years to get the pension.
by Gropes & Ray
Sun Jan 28, 2018 1:57 pm
Forum: Investing - Theory, News & General
Topic: WSJ: Wall Street to Vanguard: We’re Not Your Doormat [Fidelity charging some plans to hold Vanguard funds]
Replies: 63
Views: 11607

Re: WSJ: Wall Street to Vanguard: We’re Not Your Doormat

Fido is charging employers .05% to include vanguard funds in their 401k offerings. I anticipate employers would rather offer more expensive funds where their employees pay the burden, so it's bad for 401k participants. Should also point out that Fido index funds are fine too. So participants may be ...
by Gropes & Ray
Wed Jan 24, 2018 10:15 am
Forum: Investing - Help with Personal Investments
Topic: 22 yo with 70k new to investing with almost entire salary going towards savings
Replies: 22
Views: 2485

Re: 22 yo with 70k new to investing with almost entire salary going towards savings

I usually chime in to these threads with some short term investing advice. Over the next 10 years, demographics suggest you will likely get married, buy a house and even have a child or two. Cash can be a very fine way to hold any money you may spend in the coming decade.
by Gropes & Ray
Tue Jan 23, 2018 11:56 am
Forum: Investing - Help with Personal Investments
Topic: Losing job soon but have big nest egg -- problem?
Replies: 20
Views: 3317

Re: Losing job soon but have big nest egg -- problem?

I read at first that your expenses for your 2 yr old alone were $90k! Glad I re-read that. Your problem is psychological, not financial. You could work at Wal-Mart and probably be fine. But, successful, ambitious people tend to feel the way you do. Definately get a job, but go for the job you enjoy,...
by Gropes & Ray
Tue Jan 02, 2018 12:36 pm
Forum: Investing - Theory, News & General
Topic: 2018 Hedge Fund contest
Replies: 168
Views: 18317

Re: 2018 Hedge Fund contest

Mr. Smartypants' Smart Stuff Stocks

Long on Netflix (NFLX)

Short on YELP
by Gropes & Ray
Thu Dec 07, 2017 5:53 pm
Forum: Investing - Theory, News & General
Topic: 2017 hedge fund contest
Replies: 247
Views: 40598

Re: 2017 hedge fund contest

Cash me out! Good news is, all my friends landed on their feet after the deal.
by Gropes & Ray
Wed Aug 23, 2017 8:02 am
Forum: Personal Finance (Not Investing)
Topic: starting private practice- Need advice
Replies: 6
Views: 1067

Re: starting private practice- Need advice

I'm not quite qualified to argue with a cpa on tax issues, but on liability she is wrong about an LLC. Any properly run entity should provide protection against personal liability for slip and falls. Either a PC or an LLC can be run and taxed as an S Corp. S Corp status for an LLC won't matter much ...
by Gropes & Ray
Sat Aug 05, 2017 8:25 am
Forum: Personal Consumer Issues
Topic: Survey ate some of my property....
Replies: 25
Views: 2790

Re: Survey ate some of my property....

Title insurance may reimburse something if the issue involves overlapping legal descriptions. If the boundary just isn't where you thought it was, but your legal description is good, it might not be covered. Also, many policies exclude anything that would be uncovered by an alta survey. Although, ov...
by Gropes & Ray
Fri Aug 04, 2017 3:33 pm
Forum: Personal Consumer Issues
Topic: Survey ate some of my property....
Replies: 25
Views: 2790

Re: Survey ate some of my property....

Is your property in a plan of lots? i.e. your property description is something like "lot 7 of the blue bird meadows plan of lots filing no. 2" Or is it by metes and bounds, "starting at a point northwest of the smith monument 47 ft and thence 15 degrees north east, 98ft and thence...."? Neighboring...
by Gropes & Ray
Wed Aug 02, 2017 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 658
Views: 82977

Re: A poll: How much money do you need to retire?

To maintain my current lifestyle would probably take $2 million. But at 31, I would be reluctant to retire with that amount. Probably would want $3 million for cushion. In the future without student loans or mortgage or minor kids, my number would drop to around $1.5 million.
by Gropes & Ray
Wed Aug 02, 2017 4:43 pm
Forum: Investing - Help with Personal Investments
Topic: Burned out at 28. Do I have enough?
Replies: 62
Views: 11438

Re: Burned out at 28. Do I have enough?

Find a new job, then quit. Any gap in employment on your resume will haunt you for a long time. Trust me.
by Gropes & Ray
Wed Aug 02, 2017 10:19 am
Forum: Personal Consumer Issues
Topic: Sunroom Worth It?
Replies: 15
Views: 2907

Re: Sunroom Worth It?

Everyone else in Pittsburgh has done it, why not you? When I lived in Brighton Heights we had a huge front porch that I loved, but given the size of the house (probably 1400 sqft) I was often sorely tempted to enclose that porch. Wound up buying a bigger house in the burbs that already had a great s...
by Gropes & Ray
Thu Jul 27, 2017 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Short term lease to home buyer
Replies: 32
Views: 1626

Re: Short term lease to home buyer

My risk tolerance would be ok with it, but it would be right for the renter to cover the mortgage amount b/c he is causing you an expense.
by Gropes & Ray
Thu Jul 27, 2017 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Property - Best Legal Structure?
Replies: 23
Views: 2582

Re: Rental Property - Best Legal Structure?

LLC, good insurance, good accountant and good lawyers. Each property in it's own LLC. Therefore, should you get sued, the liability is limited to just the LLC, and not your other assets or properties. Here's what I do. One main LLC / corp > each separate property is in it's own LLC as a disregarded...
by Gropes & Ray
Wed Jul 26, 2017 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Property - Best Legal Structure?
Replies: 23
Views: 2582

Re: Rental Property - Best Legal Structure?

LLCs are cheap and easy to set up in most states. The trick is using the LLC properly, which means signing all leases/ contracts in the llc name, using a separate bank account for the llc and getting rent checks in the llc name. Banks are too savvy to let you get a mortgage for an llc without a pers...
by Gropes & Ray
Wed Jul 26, 2017 8:50 am
Forum: Personal Consumer Issues
Topic: What are your monthly expenses?
Replies: 69
Views: 8715

Re: What are your monthly expenses?

If you have no rent, debt or health insurance premiums, then 50% makes sense. I could probably do 65% without those expenses. Here is my typical budget for a family of 4 (I am 6 years older than you). Restaurants $300.00 Gas $125.00 Loan Payment $440.00 Mortgage $1,000.00 Groceries $500.00 Utilities...
by Gropes & Ray
Tue Jul 25, 2017 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Driveway On Neighbours Land
Replies: 30
Views: 2905

Re: Driveway On Neighbours Land

Not sure about Georgia, but in our state, if the "adverse possession" situation has continued without interruption through sequential owners, the time period for adverse possession claims can be continued throughout those ownerships. (That is NOT the actual legal terminology.) That is typical for m...
by Gropes & Ray
Tue Jul 25, 2017 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Driveway On Neighbours Land
Replies: 30
Views: 2905

Re: Driveway On Neighbours Land

If the cost for an easement is $2,000, you don't need a real estate attorney. You simply need your checkbook, and to write a check in exchange for a recorded easement on the property. Part of home ownership is random expenses pop up from time to time, this might be one of them. Well, the checkbook ...
by Gropes & Ray
Tue Jul 25, 2017 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Driveway On Neighbours Land
Replies: 30
Views: 2905

Re: Driveway On Neighbours Land

OP, schedule B of your title insurance policy should be called something like "exceptions." This will list the things that are not covered by your policy. Look for something like location of driveway or matters that would be disclosed bg alta survey. Even if you find it, it may still be worth making...
by Gropes & Ray
Tue Jul 25, 2017 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Driveway On Neighbours Land
Replies: 30
Views: 2905

Re: Driveway On Neighbours Land

Title insurance would cover it if it wasn't excepted, which survey boundaries often are unless you actually got a survey. You don't need to "buy" the land, you need an easement. An easement avoids replatting and most plan approvals. By the way, how confident are you that your neighbor's survey is co...
by Gropes & Ray
Mon Jul 17, 2017 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Question re. Title Insurance Policy as Seller
Replies: 4
Views: 472

Re: Question re. Title Insurance Policy as Seller

To save on title insurance, you have to use the same company that did your original policy. However, after 14 years, it is unlikely that there is much savings to be had. Most reissued policies have to be done within 5 years to get the discount.
by Gropes & Ray
Wed Jul 12, 2017 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Do you consider business travel to be a perk or a burden?
Replies: 117
Views: 10255

Re: Do you consider business travel to be a perk or a burden?

When travelling rarely with good co-workers or to see good clients, it's a delightful perk. When living out of a suitcase and dealing with people who don't want to see you, it's a burden. I used to spend about 3 nights per quarter out of town with an awesome client, and we would work late then eat s...
by Gropes & Ray
Tue Jul 11, 2017 7:18 pm
Forum: Investing - Help with Personal Investments
Topic: So I found an ETF with an over-9% expense ratio...
Replies: 11
Views: 1320

Re: So I found an ETF with an over-9% expense ratio...

sawhorse wrote:Don't a lot of hedge funds have a 20% expense ratio? Absolutely crazy.
20% of gains. usually on top of a 2% e/r.
by Gropes & Ray
Tue Jul 11, 2017 6:50 pm
Forum: Investing - Help with Personal Investments
Topic: Exchange 80+ stocks with capital gains for funds?
Replies: 25
Views: 2567

Re: Exchange 80+ stocks with capital gains for funds?

How many of the Dow 30 stocks are among them? If you have the whole set, I'd keep those. The Dow has tracked the S&P with a correlation over 0.95 and with less volatility, so owning those 30 stocks, and selling/buying ones as the index changes, is basically like owning an index fund. I second this ...
by Gropes & Ray
Tue Jul 11, 2017 9:33 am
Forum: Personal Consumer Issues
Topic: Donation to Church for wedding?
Replies: 27
Views: 3023

Re: Donation to Church for wedding?

I gave the church $200 for my wedding. I was told by the local preacher that that was very generous. My preacher from my home town drove 100 miles (one way) to do the ceremony. I put him in a nice hotel for the night, fed him dinner at the rehearsal and gave him $200. This was also called very gener...
by Gropes & Ray
Fri Jul 07, 2017 7:47 am
Forum: Personal Consumer Issues
Topic: Etiquette question regarding access easement usage
Replies: 28
Views: 4048

Re: Etiquette question regarding access easement usage

Without knowing the specifics of whatever state people are in, here are a few rules of easements that are generally true unless contradicted in the easement agreement: You have the right to improve an access easement. That means grading, gravel, pavement or other common road building methods. You ma...
by Gropes & Ray
Wed Jul 05, 2017 9:03 am
Forum: Investing - Help with Personal Investments
Topic: Should I still buy index funds now at such a high price before an impending recession?
Replies: 59
Views: 9605

Re: Should I still buy index funds now at such a high price before an impending recession?

Selling stocks with a gain now may result in capital gains taxes. Selling them at a loss later may help you save on capital gains taxes in the future. But, if you're concentrated in a single stock and that makes you nervous, then maybe now is the time to switch to index funds. You need to know and c...
by Gropes & Ray
Thu Jun 29, 2017 3:04 pm
Forum: Investing - Help with Personal Investments
Topic: IRS asking me to pay the tax on full Traditional to Roth Conversion : 1099-R
Replies: 24
Views: 3521

Re: IRS asking me to pay the tax on full Traditional to Roth Conversion : 1099-R

I sent in 8606 after I got my notice. I received a reply letter from the IRS that said they received by submission and were evaluating it.
by Gropes & Ray
Sat Jun 24, 2017 6:42 am
Forum: Personal Finance (Not Investing)
Topic: Can you share some of your financial goals?
Replies: 69
Views: 10130

Re: Can you share some of your financial goals?

I have a spreadsheet with my budhet and savings goals. Right now there are simple things like a vacation and a newer car. I also save for retirement. I would like to retire in my early 50s. That's about 20 years away.
by Gropes & Ray
Fri Jun 23, 2017 9:28 pm
Forum: Investing - Theory, News & General
Topic: Anyone have a habit of checking the market all day?
Replies: 38
Views: 3578

Re: Anyone have a habit of checking the market all day?

I check monthly on average. If I am busy at work I might not check for a few months. I check my account balances 3 or 4 times per year.
by Gropes & Ray
Wed Jun 21, 2017 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: Windfall inheritance and new home
Replies: 20
Views: 2440

Re: Windfall inheritance and new home

Net worth = 2.6 mil + 500k house. Two times net worth is 6.2. If he inhereted 6.2, then he now has 9.3.
by Gropes & Ray
Wed Jun 21, 2017 5:06 am
Forum: Personal Finance (Not Investing)
Topic: My LLCs: how to protect against corporate veil piercing
Replies: 4
Views: 1374

Re: My LLCs: how to protect against corporate veil piercing

The logic of having the LLCs would be partly defeated by combining them into one. As it stands, liabilities of one LLC do not affect the others. If you combine them then the assets of all three are available as targets of lawsuits against any one of them. Unless you have a good reason to do otherwi...
by Gropes & Ray
Tue Jun 20, 2017 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: My LLCs: how to protect against corporate veil piercing
Replies: 4
Views: 1374

Re: My LLCs: how to protect against corporate veil piercing

1. I’ve read that all checks should be signed with name, and then “, member”. He has not been doing that. Is this important? The checks should be written out of the LLC's account. He would be signing them as the Member or Managing Member. Everything he signs on behalf of the LLC should have his titl...
by Gropes & Ray
Tue Jun 20, 2017 8:59 am
Forum: Personal Consumer Issues
Topic: For Sale By Owner HOUSE- Advice Please
Replies: 26
Views: 4716

Re: For Sale By Owner HOUSE- Advice Please

Sometimes you can find an attorney who has a closing company as part of his business. That would be your best bet. But you do need a closing company to get the title insurance, which the buyer's lender will require. It should not be hard to find an attorney to look over everything for a flat fee.
by Gropes & Ray
Mon Jun 19, 2017 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Question about a Will
Replies: 9
Views: 1539

Re: Question about a Will

What are the assets? Many assets can be titled as a life estate for your step mother that passes to you upon her death. It's common for real estate and I believe it can be done for personal property.
by Gropes & Ray
Sun Jun 18, 2017 8:13 am
Forum: Investing - Theory, News & General
Topic: Best Financial Advice from Dad (in honor of father's day)
Replies: 78
Views: 8607

Re: Best Financial Advice from Dad (in honor of father's day)

Buy a house you can afford on one salary.

Save money for retirement from your first paycheck.
by Gropes & Ray
Wed Jun 14, 2017 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: retitling property
Replies: 5
Views: 816

Re: retitling property

The answer to your discreet question is, yes, it is easy to write and record a deed. The longer answer is that you can easily create title issues if you aren't familiar with how property titling works. Also, it sounds like you actually need to buy the family member's LLC interests, not the house. Ke...
by Gropes & Ray
Wed Jun 14, 2017 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Curious to odd estate question
Replies: 88
Views: 8965

Re: Curious to odd estate question

Is it still possible to have a numbered Swiss bank account? Put all assets in the account, memorize the number and do not memorialize the existence of the account in any other way. This probably fails at the requirements to have no institution benefit, since the bank will use the funds to lend money...
by Gropes & Ray
Wed Jun 14, 2017 10:17 am
Forum: Personal Finance (Not Investing)
Topic: I'm going to be rich! [Fidelity retirement planner]
Replies: 31
Views: 7263

Re: I'm going to be rich!

Looks like you should be borrowing $56 million today. You're good for it.
by Gropes & Ray
Mon Jun 12, 2017 5:44 pm
Forum: Personal Consumer Issues
Topic: Got a parking ticket - what to do?
Replies: 44
Views: 5047

Re: Got a parking ticket - what to do?

Wrong license plate? Sounds like you did not get a ticket. Maybe call and ask if they have a record of a ticket for you.
by Gropes & Ray
Thu Jun 08, 2017 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: from solo proprietorship to ... what?
Replies: 11
Views: 1382

Re: from solo proprietorship to ... what?

I'm surprised to see someone suggest C corp status. That is typically for companies that want to invest in capital assets. Taking a cut of someone else's commission looks like a good time to consider S corp status. You do have to do payroll. I would run the numbers by an account. Aside from tax cons...
by Gropes & Ray
Thu Jun 08, 2017 8:57 am
Forum: Personal Finance (Not Investing)
Topic: How often do you redeem your credit card cash rewards?
Replies: 54
Views: 5008

Re: How often do you redeem your credit card cash rewards?

Mine are automatically applied to my balance once they hit $25. if one does this w/ a Citi Doublecash 2% card, this actually reduces the % you get back as it is reducing your payment. Was discussed in a different thread months back. Interesting. Until recently I primarily used a Capital One 1% back...
by Gropes & Ray
Wed Jun 07, 2017 10:58 pm
Forum: Personal Finance (Not Investing)
Topic: How often do you redeem your credit card cash rewards?
Replies: 54
Views: 5008

Re: How often do you redeem your credit card cash rewards?

Mine are automatically applied to my balance once they hit $25.