Search found 599 matches

by 2tall4economy
Tue Jan 19, 2021 2:31 am
Forum: Personal Finance (Not Investing)
Topic: who do you bank with and why?
Replies: 168
Views: 15800

Re: who do you bank with and why?

Uh oh.... what did Chase do to you? Details in my other post, but: I went to chase based on the premise of 1 stop shop + significantly improved customer service. Fidelity is ok, but 15 minutes on hold is frustratingly the norm in my experience, unless calling on holidays or weekends, which is a cra...
by 2tall4economy
Mon Jan 18, 2021 2:12 am
Forum: Personal Finance (Not Investing)
Topic: who do you bank with and why?
Replies: 168
Views: 15800

Re: who do you bank with and why?

I read through most of the fidelity thread which was a good one. A one stop shop is certainly attractive in many ways. For those who are taking this approach, how do you feel about their total fee structure, and how much do you have with them? We have $1M+ with them. 401k, Roths, taxable, cash mana...
by 2tall4economy
Mon Jan 18, 2021 2:10 am
Forum: Personal Consumer Issues
Topic: Paging BH Gearheads: Reasonable Net Worth for Exotic
Replies: 152
Views: 13729

Re: Paging BH Gearheads: Reasonable Net Worth for Exotic

unny thing about exotics - they stop losing money after a while and actually go up at about the cost of inflation. Buy them used right as they are about to hit that part of the depreciation curve. Never buy new until you’re good with tossing $200k on the fire. Which you should never be, honestly. D...
by 2tall4economy
Sun Jan 17, 2021 3:31 pm
Forum: Personal Investments
Topic: Account fees with full service Chase Private Client account?
Replies: 22
Views: 1862

Re: Account fees with full service Chase Private Client account?

Just thought I'd give a quick update here. A few months in, I've decided to go back to Fidelity but double down with them.

I posted the why's in another thread, but wanted to come here to let you know I fully remove my recomendation!
by 2tall4economy
Fri Jan 15, 2021 4:55 pm
Forum: Personal Investments
Topic: Retiring early from windfall, mid 30s, what is the correct asset allocation to use?
Replies: 85
Views: 8792

Re: Retiring early from windfall, mid 30s, what is the correct asset allocation to use?

My first 3-5 years of retirement will be around 45-50k annual expenses in low cost countries. Afterwards, I'll increase to my upper budget of 90k and start living in higher cost countries (Amsterdam, Tokyo) Good luck to you. I think you're fine right now, but you've got a LONG road ahead and a part...
by 2tall4economy
Fri Jan 15, 2021 4:49 pm
Forum: Personal Investments
Topic: How good is a 529?
Replies: 27
Views: 2029

Re: How good is a 529?

Related question - I was thinking of transferring from brightstart to Fidelity 529 after I collect the tax credit. The fine print says that IL reserves the right to claw back the tax credit if you do that though. Anyone done it and had them actually claw back the tax? I would think after 3 years the...
by 2tall4economy
Fri Jan 15, 2021 2:05 pm
Forum: Personal Consumer Issues
Topic: Simple but fun cars
Replies: 57
Views: 4107

Re: Simple but fun cars

Lists already provided here are very good so can’t add much. You’re absolutely right that enthusiast cars are dying and engines are reaching higher outputs but are getting smaller, wheezy, poorer dynamically or electrified. Which only leaves a handful. My recommendations: Low price Miata Brz/86 Mid ...
by 2tall4economy
Fri Jan 15, 2021 12:33 am
Forum: Personal Consumer Issues
Topic: time for a new car
Replies: 55
Views: 6630

Re: time for a new car

its been awhile since I've had to do this but my car is on its last legs (11 years old, 250k+ miles). It still runs as Ive (unfortunately) put a lot of money into it recently, but Ive hit the point where the inconvenience is getting to be too much of a hassle. so where do I start? I guess I first n...
by 2tall4economy
Thu Jan 14, 2021 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: What are your Lean FIRE, FIRE, and Fat FIRE numbers?
Replies: 213
Views: 16014

Re: What are your Lean FIRE, FIRE, and Fat FIRE numbers?

Since I get to define my own: Lean fire = id still look for a job if I got fired from work, but I wouldn’t starve. Fire = I probably wouldn’t look for a job if I got fired. Fat fire = the negative marginal utility of continuing to work for money subtracted from the money earned would be negative. S...
by 2tall4economy
Wed Jan 13, 2021 3:35 am
Forum: Personal Finance (Not Investing)
Topic: What are your Lean FIRE, FIRE, and Fat FIRE numbers?
Replies: 213
Views: 16014

Re: What are your Lean FIRE, FIRE, and Fat FIRE numbers?

Since I get to define my own: Lean fire = id still look for a job if I got fired from work, but I wouldn’t starve. Fire = I probably wouldn’t look for a job if I got fired. Fat fire = the negative marginal utility of continuing to work for money subtracted from the money earned would be negative. So...
by 2tall4economy
Fri Jan 08, 2021 11:32 pm
Forum: Personal Investments
Topic: What is an appropriate percentage of net worth to spend on a house?
Replies: 19
Views: 1884

Re: What is an appropriate percentage of net worth to spend on a house?

It depends on a lot. There are so many answers to this topic it will make your head spin. The ones I like the best / think are most interesting for the thought exercise are: “Whatever you can pay In cash” - the misers approach; feels like it can be good for maximizing financials but actually the onl...
by 2tall4economy
Fri Jan 08, 2021 2:27 pm
Forum: Personal Consumer Issues
Topic: Vehicle quality (the real data, not anecdotes)
Replies: 139
Views: 9017

Re: Vehicle quality (the real data, not anecdotes)

You're entitled to your opinion. Having worked inside an OEM I can tell you they are the gold standard and the thing that the companies pay the most attention to. Why would an OEM supplier pay attention to automaker rankings? Would OEM supplier refuse to sell to the poorly rated automakers? In indu...
by 2tall4economy
Fri Jan 08, 2021 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Ugh Vanguard! May have to leave. They made a huge error.
Replies: 216
Views: 23471

Re: Ugh Vanguard! May have to leave. They made a huge error.

wow. what a way to screw up. sorry to hear that.
by 2tall4economy
Fri Jan 08, 2021 10:57 am
Forum: Personal Consumer Issues
Topic: Vehicle quality (the real data, not anecdotes)
Replies: 139
Views: 9017

Re: Vehicle quality (the real data, not anecdotes)

You're entitled to your opinion. Having worked inside an OEM I can tell you they are the gold standard and the thing that the companies pay the most attention to. I don't believe this to be true across the industry. Manufacturers have a much better measure of reliability that directly affects their...
by 2tall4economy
Fri Jan 08, 2021 3:25 am
Forum: Personal Finance (Not Investing)
Topic: Is Being a Private Banking Client Worth it?
Replies: 151
Views: 54118

Re: Is Being a Private Banking Client Worth it?

Tech founders with vast amounts of their net worth tied into single stock positions that they can only slowly unwind [if your company IPO'd, you usually have to divest your position over several years per the IPO agreement - you wouldn't want to invest in a company that just IPO'd if the founder di...
by 2tall4economy
Fri Jan 08, 2021 1:55 am
Forum: Personal Finance (Not Investing)
Topic: Is Being a Private Banking Client Worth it?
Replies: 151
Views: 54118

Re: Is Being a Private Banking Client Worth it?

A little ago while I “interviewed” with a bunch of banks, pretending to have different levels of assets to hear their pitches. I wrote a thread on it you can check if you want. There are certainly a handlful of perks. If they matter to you and you can swim with the sharks got for it. TLDR; the real ...
by 2tall4economy
Fri Jan 01, 2021 1:44 am
Forum: Investing - Theory, News & General
Topic: What are you up YTD? [Year To Date]
Replies: 3405
Views: 571790

Re: What are you up YTD? [Year To Date]

Can’t say for sure until all the banks update on Monday (boo New Years on Friday) but looks like 21% for me. Wish I would have put more cash in the market instead of paying down debt.

But I didn’t know and I’d be way more upset at the opposite so thumbs up.
by 2tall4economy
Tue Dec 29, 2020 1:19 am
Forum: Personal Consumer Issues
Topic: Vehicle quality (the real data, not anecdotes)
Replies: 139
Views: 9017

Re: Vehicle quality (the real data, not anecdotes)

This is not by chance either, these are deliberate priority decisions by these companies. Toyota’s #1 goal is world beating reliability, and their manufacturing quality system is a benchmark for the industry (read a book called “The Toyota Way” it’s quite interesting band can be applied to many dis...
by 2tall4economy
Tue Dec 29, 2020 1:15 am
Forum: Personal Consumer Issues
Topic: Vehicle quality (the real data, not anecdotes)
Replies: 139
Views: 9017

Re: Vehicle quality (the real data, not anecdotes)

Normchad wrote: Mon Dec 28, 2020 9:57 am (Personally, I do believe the survey data, but still wouldn’t be caught dead in a Buick).
Now THAT, is perfectly fair :)

I have that feeling about quite a few cars myself.
by 2tall4economy
Tue Dec 29, 2020 1:12 am
Forum: Personal Consumer Issues
Topic: Vehicle quality (the real data, not anecdotes)
Replies: 139
Views: 9017

Re: Vehicle quality (the real data, not anecdotes)

dknightd wrote: Mon Dec 28, 2020 9:26 am
killjoy2012 wrote: Mon Dec 28, 2020 9:18 am This thread is one of the reasons I think car discussions should be banned under the religion/politics rules.
I'd vote for that. Maybe. Let me think about it.
If so then we should ban all brand debates ;)

Windows vs Apple comes to mind.
by 2tall4economy
Tue Dec 29, 2020 1:04 am
Forum: Personal Consumer Issues
Topic: Vehicle quality (the real data, not anecdotes)
Replies: 139
Views: 9017

Re: Vehicle quality (the real data, not anecdotes)

J.D. Power is a market research company that sells the ability to use their logo for the award you 'won'. Consumer Reports is a non-profit that has a no commercial use policy. I know which one I trust, and it's not J.D. Power. You're entitled to your opinion. Having worked inside an OEM I can tell ...
by 2tall4economy
Tue Dec 29, 2020 1:00 am
Forum: Personal Consumer Issues
Topic: Vehicle quality (the real data, not anecdotes)
Replies: 139
Views: 9017

Re: Vehicle quality (the real data, not anecdotes)

Try this end of the telescope: Compare on Cargurus the asking price of a 5 year old Camry or Accord to any other comparable brand you choose. All else being equal the Camry and the Accord will likely command a higher asking price. Thus--there's your answer. All the best +1 Resale values are an exce...
by 2tall4economy
Mon Dec 28, 2020 2:58 am
Forum: Personal Consumer Issues
Topic: Vehicle quality (the real data, not anecdotes)
Replies: 139
Views: 9017

Vehicle quality (the real data, not anecdotes)

I won't change this board's group think with a single post, but I've got to start somewhere :) I keep reading all of these uninformed posts about how good Japanese quality is and not to buy American unless it's a Tesla. The people posting that are replaying the movie they watched 20 to 30 years ago....
by 2tall4economy
Sun Dec 27, 2020 12:12 am
Forum: Personal Finance (Not Investing)
Topic: Best Way to Collect Rent Electronically?
Replies: 89
Views: 4260

Re: Best Way to Collect Rent Electronically?

For the last 12 years I’ve required remnants to make rent payments electronically (written into the lease) via wire or ach. I have an account set up per property for rent to come in and expenses to go out. Some would say don’t do that because you have to give out your bank touting and and least one ...
by 2tall4economy
Thu Dec 24, 2020 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: Pros and Cons of becoming a Real Estate Agent
Replies: 62
Views: 5731

Re: Pros and Cons of becoming a Real Estate Agent

Fair, but I would argue the first six cons are the same whether you’re in a Fortune 500 or a real estate agent. Source: my experience as a real estate agent and in fortune 500s. Also, I don’t know who in their right mind would ever be a sales agent. Buy a house and rent it out for 3 years and you ca...
by 2tall4economy
Thu Dec 24, 2020 9:08 pm
Forum: Investing - Theory, News & General
Topic: Does one need a bank account anymore?
Replies: 139
Views: 12692

Re: Does one need a bank account anymore?

Yes. Some of us need to have actual cash in the form of $5s and $10s etc. The bank branch at the supermarket 3 blocks away is very convenient for that purpose. The local Schwab and Fidelity branches are 20 minutes away by car and I doubt if they have much actual cash on hand if any. Would I need to...
by 2tall4economy
Thu Dec 24, 2020 8:52 pm
Forum: Personal Consumer Issues
Topic: What kind of car do Bogleheads like to drive?
Replies: 470
Views: 38793

Re: What kind of car do Bogleheads like to drive?

What do I like to drive? My Ferrari 360. Manual with the top down. What will most people on this board recommend? Something exceptionally boring and either electric or Japanese under the mistaken belief that only Japanese vehicles are of high quality and only electric vehicles are exciting. The qual...
by 2tall4economy
Thu Dec 24, 2020 12:34 pm
Forum: Personal Investments
Topic: Why should I contribute to my non-deductible IRA?
Replies: 26
Views: 1724

Re: Why should I contribute to my non-deductible IRA?

As others have highlighted, this is the specific example that a backdoor Roth was invented to handle.
by 2tall4economy
Fri Dec 11, 2020 2:38 am
Forum: Personal Finance (Not Investing)
Topic: Does anyone use an accountant for personal taxes?
Replies: 146
Views: 9701

Re: Does anyone use an accountant for personal taxes?

I used an accountant when I was doing a lot of international travel for work and as a result had to pay taxes in another country in addition to the US. My company required and paid for the accountant though. Definitely worthwhile because it got very complicated with tax liability in two countries. ...
by 2tall4economy
Fri Dec 11, 2020 2:30 am
Forum: Personal Finance (Not Investing)
Topic: What should a 23 year old consider before purchasing a Tesla?
Replies: 264
Views: 13335

Re: What should a 23 year old consider before purchasing a Tesla?

EVERY Tesla owner immediately ascends to a higher Karma level. It’s not a car. Unless you installed solar panels sufficient to charge the battery of that car you’re just trading one source of pollution for a different one. No karma to be had. Most electricity is powered by natural gas or coal. Exce...
by 2tall4economy
Thu Dec 10, 2020 2:06 am
Forum: Personal Consumer Issues
Topic: Relocation to Houston, Texas from SF Bay - Advice
Replies: 102
Views: 8903

Re: Relocation to Houston, Texas from SF Bay - Advice

My in laws live there and we spend most summers down there. Traffic is miserable in both areas so no change there ;) Culturally and politically ideologically very very different. Can’t go a block without seeing a church. Nice people. Welcoming. Great restaurants and lots to do. Lots of growth and ex...
by 2tall4economy
Thu Dec 10, 2020 2:01 am
Forum: Personal Investments
Topic: What’s “your number” for each kid’s 529?
Replies: 439
Views: 27553

Re: What’s “your number” for each kid’s 529?

I find a 529 a nearly worthless investment vehicle. The cost benefit to me is simply not where it needs to be. I put in the bare minimum to get the state income tax match ($20,000). I have it in first child’s name. I’ll tap it until it’s consumed, which it will be by the third kid getting into schoo...
by 2tall4economy
Thu Dec 10, 2020 1:59 am
Forum: Personal Investments
Topic: In service 401k rollover eligibility question.
Replies: 8
Views: 539

Re: In service 401k rollover eligibility question.

If any of the contributions were after tax (not Roth contributions, after tax contributions) and or portions of roll overs were and the employer plan allows in service roll overs then you can transfer that portion without penalty. This is how the mega backdoor 401k was born.
by 2tall4economy
Thu Dec 10, 2020 1:53 am
Forum: Personal Consumer Issues
Topic: Warm coat recommendations
Replies: 93
Views: 5047

Re: Warm coat recommendations

Not really adding much to thread but having lived in Northern Midwestern climates (different ones all over world) a “ski jacket” with a waterproof breathable shell and down insulation. Is the key. You’ll probably be so warm you’ll unzip it part way. Layers too. Eddie Bauer and lol bean are inexpensi...
by 2tall4economy
Thu Dec 10, 2020 1:47 am
Forum: Personal Finance (Not Investing)
Topic: What should a 23 year old consider before purchasing a Tesla?
Replies: 264
Views: 13335

Re: What should a 23 year old consider before purchasing a Tesla?

Gabelli2020 wrote: EVERY Tesla owner immediately ascends to a higher Karma level. It’s not a car.
Unless you installed solar panels sufficient to charge the battery of that car you’re just trading one source of pollution for a different one. No karma to be had.
by 2tall4economy
Thu Dec 10, 2020 1:42 am
Forum: Personal Finance (Not Investing)
Topic: Real impact of a salary cut
Replies: 18
Views: 2678

Re: Real impact of a salary cut

Wife exited the workforce a few months after we were married. At the time I was red-hot angry about it (young, bait and switch thinking, etc) but then I did the math and her ~60k salary ended up being like a $20k hit in real income (married tax bracket vs single and her significantly lower income v...
by 2tall4economy
Thu Dec 10, 2020 1:37 am
Forum: Personal Finance (Not Investing)
Topic: Real impact of a salary cut
Replies: 18
Views: 2678

Re: Real impact of a salary cut

Wife exited the workforce a few months after we were married. At the time I was red-hot angry about it (young, bait and switch thinking, etc) but then I did the math and her ~60k salary ended up being like a $20k hit in real income (married tax bracket vs single and her significantly lower income v...
by 2tall4economy
Thu Dec 10, 2020 1:35 am
Forum: Personal Finance (Not Investing)
Topic: What should a 23 year old consider before purchasing a Tesla?
Replies: 264
Views: 13335

Re: What should a 23 year old consider before purchasing a Tesla?

You couldn’t pay me to own a Tesla. In fact I’ve lately been starting “collection” of sorts of inexpensive manual ice vehicles to bask in the nostalgia before they’re gone for good. That said, if you want to wait for a cheaper Tesla, you need border adoption and critical Mass of production. Gm will ...
by 2tall4economy
Mon Dec 07, 2020 12:41 am
Forum: Personal Consumer Issues
Topic: How much do you spend on gifts for the holidays?
Replies: 73
Views: 4280

Re: How much do you spend on gifts for the holidays?

I’m curious how much $ people in this group spend on gifts over the holidays. Also, if there is anything interesting about how you do gifts. (No gifts, experiences only, splurge on certain people, etc) For me ~$3,500 $1,000 - 2 young kids $1,000 - on myself and wife $1,500 - on people/donations out...
by 2tall4economy
Mon Dec 07, 2020 12:41 am
Forum: Personal Consumer Issues
Topic: How much do you spend on gifts for the holidays?
Replies: 73
Views: 4280

Re: How much do you spend on gifts for the holidays?

I’m curious how much $ people in this group spend on gifts over the holidays. Also, if there is anything interesting about how you do gifts. (No gifts, experiences only, splurge on certain people, etc) For me ~$3,500 $1,000 - 2 young kids $1,000 - on myself and wife $1,500 - on people/donations out...
by 2tall4economy
Mon Dec 07, 2020 12:38 am
Forum: Personal Finance (Not Investing)
Topic: Real impact of a salary cut
Replies: 18
Views: 2678

Re: Real impact of a salary cut

Wife exited the workforce a few months after we were married. At the time I was red-hot angry about it (young, bait and switch thinking, etc) but then I did the math and her ~60k salary ended up being like a $20k hit in real income (married tax bracket vs single and her significantly lower income v...
by 2tall4economy
Mon Dec 07, 2020 12:23 am
Forum: Personal Finance (Not Investing)
Topic: Real impact of a salary cut
Replies: 18
Views: 2678

Re: Real impact of a salary cut

Wife exited the workforce a few months after we were married. At the time I was red-hot angry about it (young, bait and switch thinking, etc) but then I did the math and her ~60k salary ended up being like a $20k hit in real income (married tax bracket vs single and her significantly lower income vs...
by 2tall4economy
Tue Nov 17, 2020 1:16 am
Forum: Personal Finance (Not Investing)
Topic: Path to UHNW
Replies: 48
Views: 5124

Re: Path to UHNW

if someone can articulate that I’d love to hear about it Marginal Utility of Wealth. Here's a good starting place. Let Google be your friend. https://www.investopedia.com/terms/m/marginalutility.asp I think a lot of people at that wealth level come to the same conclusion. I’m saying the same thing;...
by 2tall4economy
Sun Nov 15, 2020 11:45 pm
Forum: Personal Finance (Not Investing)
Topic: Deferred Comp Plan
Replies: 42
Views: 3086

Re: Deferred Comp Plan

It was offered at one of my three former employers. I took it becaus it was the only way to get the 401k match that you’d otherwise miss out on because your compensation would hit the irs cap. For the reasons other mentioned, I only contributed the minimum to get the match. I quit three later and go...
by 2tall4economy
Sun Nov 15, 2020 11:41 pm
Forum: Personal Finance (Not Investing)
Topic: Sell my house, buy 2 condos, travel and see what I want to do in my life.
Replies: 19
Views: 2897

Re: Sell my house, but where to live then?

Sell it. I’m somewhat biased as I’ve also been a landlord for over a decade and recently decided to leave it behind, though for somewhat different reasons. I suspect your work is somewhat limited by your location (ie you have a reputation that drives business to you). If that’s true, thenIf I was yo...
by 2tall4economy
Sun Nov 15, 2020 11:34 pm
Forum: Personal Consumer Issues
Topic: Best place to buy a TV
Replies: 54
Views: 7230

Re: Best place to buy a TV

Research the heck out of it, then buy online at lowest price.

I’ve bought a few at abt. Some direct from mfg, some from Best Buy... all depends.
by 2tall4economy
Sun Nov 15, 2020 11:33 pm
Forum: Investing - Theory, News & General
Topic: What is a High Earner bracket
Replies: 119
Views: 8696

Re: What is a High Earner bracket

It completely depends on what the writer, or politician, is trying to convince you of.
by 2tall4economy
Sun Nov 15, 2020 11:31 pm
Forum: Personal Investments
Topic: How do you handle "fun money"?
Replies: 63
Views: 5515

Re: How do you handle "fun money"?

I take stock every year and reset what is the 10% or 5% based on ending portfolio value. Sometimes I let it ride, sometimes I don’t. To be fair, most of my fun money is classic or exotic cars so usually I’m adding in absoltue dollars to offset depreciation, but occasionally I make some money on them...
by 2tall4economy
Sun Nov 15, 2020 10:56 pm
Forum: Personal Finance (Not Investing)
Topic: Path to UHNW
Replies: 48
Views: 5124

Re: Path to UHNW

Most of the answers here are in the zone. In all cases you need to be the top of your profession and do it for years successfully or you need to roll the dice with entrepreneurship. I think anyone in a corporate / consulting / finance job that makes $1m+ per year toward mid to late career, watches t...