Search found 859 matches

by Flashes1
Sun Jan 19, 2020 12:44 pm
Forum: Personal Investments
Topic: Deploying a $40m windfall in current market conditions
Replies: 57
Views: 7402

Re: Deploying a $40m windfall in current market conditions

With that kind of lump sum, I would not be shy to spend big money on estate lawyers and tax advisers; however, I would be leery about financial advisors that will try to steer you into certain exotic sounding investments that they will claim to shield you from taxes and beat the market. Although the...
by Flashes1
Sun Jan 12, 2020 9:57 am
Forum: Personal Consumer Issues
Topic: College Reunion Destination
Replies: 46
Views: 2653

Re: College Reunion Destination

You're going at the last quarter of the MLB season and if you go in early Sept, that's the beginning of college football/NFL. Alternatives to Nashville: * Cleveland: Indians/Browns, good breweries (although many of their best are in the suburbs) and a great night life. Downtown casino. * Cincinnati:...
by Flashes1
Sat Jan 04, 2020 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Geico cancels 1M umbrella
Replies: 54
Views: 6452

Re: Geico cancels 1M umbrella

How much are other folks paying for $1 million of umbrella? I'm paying $1,000/year which I thought was fair; however, now I'm seeing the OP was paying was paying $200-$300. This has me concerned/ :oops:
by Flashes1
Sat Dec 28, 2019 7:48 am
Forum: Personal Investments
Topic: FDIC insured consideration... Big deal, overblown, what? Any case studies or personal experiences?
Replies: 19
Views: 1132

Re: FDIC insured consideration... Big deal, overblown, what? Any case studies or personal experiences?

I don't think it's a big deal when you're dealing with banks like BAML, WFC, USB, and JPM because those banks are too big to fail and if they would it's probably bullets and food time. Now if you're talking about institutions like Ally, etc. then yes, I think it's a big deal if you're looking for ne...
by Flashes1
Fri Dec 27, 2019 11:18 am
Forum: Personal Consumer Issues
Topic: Yet Another Retiring to Florida Thread - Pros/Cons
Replies: 87
Views: 8295

Re: Yet Another Retiring to Florida Thread - Pros/Cons

Florida observations: * West coast is a haven for folks from the Midwest (MI, OH, IN, IL, and Pittsburgh). * East coast is a haven for folks from the East coast (NY, NJ, CT and DC). People are more comfortable with their own kind. Not so true any more. When I first came to Southwest Florida in 1977...
by Flashes1
Fri Dec 27, 2019 9:30 am
Forum: Personal Consumer Issues
Topic: Yet Another Retiring to Florida Thread - Pros/Cons
Replies: 87
Views: 8295

Re: Yet Another Retiring to Florida Thread - Pros/Cons

Florida observations:

* West coast is a haven for folks from the Midwest (MI, OH, IN, IL, and Pittsburgh).
* East coast is a haven for folks from the East coast (NY, NJ, CT and DC).

People are more comfortable with their own kind.
by Flashes1
Sun Dec 22, 2019 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1412
Views: 365315

Re: Share your net worth progression

Net worth is all assets minus all liabilities. Assets would include all ac counts and valuables in your possession. Some folks might consider future college expenses as liabilities and thus reduce it from their NW calculation. The market rally in Q4-19 has had a material impact on my NW.....stagger...
by Flashes1
Sun Dec 22, 2019 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1412
Views: 365315

Re: Share your net worth progression

[quote=smitcat post_id=4904363 time=1577024828 user_id=114100 "it's amazing what a 20% rally will do!" It really is … it is also amazing that a 20% decline in more impactful as well [/quote] Indeed - 20% declines are very nerve racking and we're coming up on the 1 year anniversary of the 52-week low...
by Flashes1
Sun Dec 22, 2019 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1412
Views: 365315

Re: Share your net worth progression

Do you include 529 accounts in net worth calculation? Net worth is all assets minus all liabilities. Assets would include all ac counts and valuables in your possession. Some folks might consider future college expenses as liabilities and thus reduce it from their NW calculation. The market rally i...
by Flashes1
Sun Dec 15, 2019 11:52 am
Forum: Personal Consumer Issues
Topic: Ethiopia travel (tour operator recommendation, etc.)
Replies: 11
Views: 987

Re: Ethiopia travel (tour operator recommendation, etc.)

African culture is anyone who has resources is expected to share them with those that don't. It's what got them thru tough times over the millenia, but it can turn off a lot of folks with European ancestry. Relatives were Missionaries for 15 years until 1975 when the Communists took over, but even t...
by Flashes1
Tue Nov 12, 2019 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Homebuying in Los Angeles - Advice Needed
Replies: 77
Views: 7900

Re: Homebuying in Los Angeles - Advice Needed

Not sure why people are saying $5k rent on $1.25M is a steal. By my calculations, PITI on a $1M mortgage is only $6k. Buying is the steal. A couple big factors you're overlooking: * The opportunity costs on the $125k down payment in your scenario - in 15 years that could cost you approx. $125k if y...
by Flashes1
Tue Nov 12, 2019 7:06 am
Forum: Personal Finance (Not Investing)
Topic: Homebuying in Los Angeles - Advice Needed
Replies: 77
Views: 7900

Re: Homebuying in Los Angeles - Advice Needed

It's a personal preference and a lifestyle choice. If you can really rent a $1.25M home for $5000/month that's a pretty good deal (especially since property taxes alone at 1% would be $12,500/year). That's what I was thinking. I have a $417,000 MORTGAGE, and my monthly payment is $3,000 (includes T...
by Flashes1
Mon Oct 07, 2019 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Career Change from Commercial Banking
Replies: 14
Views: 1671

Re: Career Change from Commercial Banking

My current bank does not really have a corporate group in Denver anymore. Too many participation’s without cross sales had returns too low so they more or less pulled out of the market here. I do have an opportunity to take a Jr RM role at a different bank targeting customers with credit needs of $...
by Flashes1
Thu Oct 03, 2019 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Career Change from Commercial Banking
Replies: 14
Views: 1671

Re: Career Change from Commercial Banking

Banking is a major black hole and one of the few industries that once you enter, it's very hard to leave. RM is a much easier, lower stress and higher paid role than an UW. The best way to break into the RM world is at your current bank. But I'd recommend looking at Large Corporate RM jobs - at many...
by Flashes1
Tue Oct 01, 2019 7:26 am
Forum: Personal Investments
Topic: Retirees - do you hold extra cash for a bear market?
Replies: 93
Views: 10220

Re: Retirees - do you hold extra cash for a bear market?

I'm approx. 10 years from retirement; however, as of right now, I expect to keep 2 years of expenses (net of pension & SS) in cash. That would give me peace of mind that the market could decline +50% and I'd still have liquid resources to pay expenses for two years prior to tapping my retirement ass...
by Flashes1
Thu Aug 01, 2019 1:45 pm
Forum: Personal Investments
Topic: Divorce- Help with Present Value Pension Calculation
Replies: 20
Views: 2317

Re: Divorce- Help with Present Value Pension Calculation

I'm no wizard with NPV's of federal pensions, but I think I would jump on the chance to buy her out of it for $10k.....especially when you're dividing $775k....that's peanuts and a federal pension can be worth a lot more in a few decades than $10k right now.
by Flashes1
Thu Jun 13, 2019 8:13 am
Forum: Personal Finance (Not Investing)
Topic: Job opportunity - KSA/Bahrain
Replies: 66
Views: 5994

Re: Job opportunity - KSA/Bahrain

If you believe with every cell in your body in this venture's success: I would move my wife and kids in with her parents and take the job in the ME....and work 24/7 to make it successful. Bring the family over a few weeks a year during school breaks or meet them halfway in Europe. Alternatively, ret...
by Flashes1
Wed Jun 05, 2019 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Would you buy a house without a garage?
Replies: 95
Views: 6630

Re: Would you buy a house without a garage?

I wouldn't buy the house unless I knew I could rebuild the wrap-around driveway and be content with the smaller back yard. Agree with others, that I would never buy a house in snowy areas without a garage, but that's just me. Even in the South, I would at least want a "car-port" to keep the hot sun ...
by Flashes1
Wed Jun 05, 2019 8:08 am
Forum: Personal Finance (Not Investing)
Topic: windfall. do I need to pay estimated tax this year
Replies: 17
Views: 2268

Re: windfall. do I need to pay estimated tax this year

Get that CPA real quick. Making a tax mistake on this kind of payout could be a lot more expensive than paying a tax guy.
by Flashes1
Mon Jun 03, 2019 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: For those who earn $500k+ per year. How'd you do that?
Replies: 369
Views: 41236

Re: For those who earn $500k+ per year. How'd you do that?

I won't speak to the 100 hour thing, I don't think my spouse has ever gotten near that (at least I hope not), but you guys do realize that we're not talking about the average salaried worker right? At the pay grade that we're discussing here, we're talking about the select few at the top that are r...
by Flashes1
Thu May 23, 2019 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 19929

Re: High net worth, elite private or “good” public

I find amazing that people judge the value of a school by arts and sports programs. Nobody seems to say: that school is good, it teaches kids a lot of math, physics, chemistry or biology. That school got gold in math Olympics. Really, sports? The most important thing in a school is to select and se...
by Flashes1
Fri Apr 26, 2019 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: Colleague salary comparison
Replies: 54
Views: 6595

Re: Colleague salary comparison

One of the greatest things that ever happened to Executive Officers at public companies is to have their compensation published because their compensation is set at the average of the "peer group" so if one CFO gets a raise they all get one. It's a little embarrassing once a year when their comp is ...
by Flashes1
Fri Apr 26, 2019 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Lifestyle creep
Replies: 73
Views: 8030

Re: Lifestyle creep

Lifestyle creep? Recent Hawaii trip: $8k upcoming: New shop building: $50-80k New detached garage: 120k+ Restucco and paint home: 30k+ New Courtyard walls and pavers and landscaping: 80k+ etc etc I think of these more as high end "honey do's" Some things just have to be done. Not sure if they are "...
by Flashes1
Thu Apr 25, 2019 5:05 pm
Forum: Personal Investments
Topic: What to do? Sitting on the bench since October
Replies: 66
Views: 7714

Re: What to do? Sitting on the bench since October

I bet the OP was really happy on Christmas Day... Yea, that's what I was thinking - 12/24/18 was a disappointing day for this investor. It's damn near impossible to know when to get back in....that's what screws up the market timers! It's always knowing when to get back in and having the courage to...
by Flashes1
Fri Apr 19, 2019 10:13 am
Forum: Investing - Theory, News & General
Topic: Hedging against hyperinflation scenario
Replies: 47
Views: 3580

Re: Hedging against hyperinflation scenario

Guns are one of the best investments in periods of hyperinflation: (I) they are good for bartering, (ii) provide protection from people taking your assets, and (iii) provide a way to transfer assets into your possession via voluntary or involuntary surrender of those assets.
by Flashes1
Mon Mar 18, 2019 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Should we purchase $700k home?
Replies: 101
Views: 7528

Re: Should we purchase $700k home?

Desert, There you go! Be proud of your success, and enjoy the fruits of your labor. I've seen A LOT of judgment on this thread from people saying you should only live in 2 or 3 room house (I've never heard of anyone outside the indigent living in such a small house---that's 2 or 3 rooms---not bedroo...
by Flashes1
Mon Mar 18, 2019 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Should we purchase $700k home?
Replies: 101
Views: 7528

Re: Should we purchase $700k home?

Should we purchase $700k home? No! That's an insane amount of money to spend on a home. Most people live in 2 or 3 rooms and don't need any more space. Many can live fine in just one room, plus a kitchen and bathroom. Less is more. Houses are boring--and expensive. Where do you live where most peop...
by Flashes1
Mon Mar 18, 2019 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Should we purchase $700k home?
Replies: 101
Views: 7528

Re: Should we purchase $700k home?

We built our dream home for our young family about 6 years ago and it was a great decision for us.

5,800 square foot - family of 4. I wanted a house that people drove by and said "I wonder who lives there."
Home theater, fire pit, putting green, golf simulator, etc. etc.
It's a lot of fun.
by Flashes1
Thu Jan 24, 2019 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: Why doesn't a lot of money feel like a lot of money?
Replies: 205
Views: 22734

Re: Why doesn't a lot of money feel like a lot of money?

My bonus doesn't feel so big after it gets whacked with a 40% 401k contribution on that paycheck and taxes.
by Flashes1
Mon Dec 17, 2018 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire
Replies: 126
Views: 10965

Re: Can I retire

How can someone spend 250k a year in living expenses? Made me think and do some math. We spend 2k on gas, and electricity each, 3k on phone, 8k on disability, 6k on insurance 2k on car, 650 on HOA, county tax of 5k Car once every 10 year = 50G OR 5 G per year So this is roughly 35k/year minimum Res...
by Flashes1
Thu Nov 08, 2018 12:42 pm
Forum: Personal Consumer Issues
Topic: Anyone here retire in two homes
Replies: 24
Views: 3659

Re: Anyone here retire in two homes

If you have the money, two houses would be fun in retirement. I'm still a few years from retirement, but I've given a lot of thought to owning a home in the mountains of TN, and renting a house for 3 months in Florida from Jan-Mar. I do worry the rental prices for the homes I would want to live in f...
by Flashes1
Fri Sep 07, 2018 12:58 pm
Forum: Personal Investments
Topic: Scaring the Old Folks
Replies: 71
Views: 8845

Re: Scaring the Old Folks

I anticipate spending a lot more money on ME in retirement. All the money that's currently going to the kids' sports lessons, tutoring, etc, I want to spend on ME. That means I want to belong to a golf club and an ocean club which means a lot more eating out.
by Flashes1
Fri Sep 07, 2018 12:49 pm
Forum: Personal Investments
Topic: returns for the next decade
Replies: 40
Views: 4560

Re: returns for the next decade

For purposes of retirement planning, I use a 4% per annum ROR. That's a blended ROR inclusive of bonds, equities, and TIAA real estate.
by Flashes1
Mon Aug 06, 2018 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: DW job in dangerous area
Replies: 90
Views: 7894

Re: DW job in dangerous area

I would carry fire power.
by Flashes1
Sat Aug 04, 2018 5:59 am
Forum: Personal Consumer Issues
Topic: Do You Purchase "Medical Evacuation Insurance" When You Travel?
Replies: 185
Views: 13831

Re: Do You Purchase "Medical Evacuation Insurance" When You Travel?

I would consider buying it under certain conditions: * How old are you? The older you are, the more likely you should buy it. * What countries will you be in? I'd be a lot more likely to buy it if I was in places life South America and Africa than I would if I was in Aussie and Japan. * What physica...
by Flashes1
Fri Aug 03, 2018 9:03 pm
Forum: Investing - Theory, News & General
Topic: HELOC
Replies: 20
Views: 1696

Re: HELOC

If you plan to use your HELOC as a type of emergency fund, may I suggest the following: * Some banks did decrease HELOC's during the Great Recession but this risk can be greatly reduced by: I) choose a strong bank like US Bank or BB&T that's less likely to need emergency capital, and ii) have +50% e...
by Flashes1
Tue May 01, 2018 10:46 am
Forum: Personal Consumer Issues
Topic: Selling a car: how to get paid?
Replies: 69
Views: 8804

Re: Selling a car: how to get paid?

I learned the hard way that a stop payment can be placed on a Cashier's Check (depending on the state and the bank). I never knew that could be done until I thought I lost one. Cashiers checks - 1. The bank where a cashiers check is deposited cannot put an extended hold (only next day) for $5,000 o...
by Flashes1
Wed Apr 25, 2018 8:13 am
Forum: Personal Finance (Not Investing)
Topic: How old are you and how much do you save for retirement a year
Replies: 244
Views: 37606

Re: How old are you and how much do you save for retirement a year

Husband 50, Wife 43 - dual income of $330,000 and 2 kids with expensive sports. His 401k - $24,000 plus $6,000 match Her 401k - $18,000 plus $16,000 match After Tax: $34,000 HSA: $6,000 HELOC payments: $30,000 - paydown of loan I took to make investment in private company. Once the HELOC is paid-off...
by Flashes1
Thu Apr 19, 2018 9:19 pm
Forum: Personal Consumer Issues
Topic: Selling a car: how to get paid?
Replies: 69
Views: 8804

Re: Selling a car: how to get paid?

I learned the hard way that a stop payment can be placed on a Cashier's Check (depending on the state and the bank). I never knew that could be done until I thought I lost one.
by Flashes1
Tue Apr 17, 2018 12:37 pm
Forum: Personal Consumer Issues
Topic: Allegiant Airlines...Anyone watch CBS 60 Minutes?
Replies: 55
Views: 8045

Re: Allegiant Airlines...Anyone watch CBS 60 Minutes?

Super cheap flights to Florida from my home airport this spring break saving my family of four over $1,000. Flew newer Air Bus planes both ways, and the gate agents and flight attendants were super friendly. Will fly again.
by Flashes1
Wed Apr 04, 2018 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: NY passes law to get around SALT limit
Replies: 47
Views: 10444

Re: NY passes law to get around SALT limit

In the meantime, NY tax accountants and CPA's will have a strong 2018.
by Flashes1
Fri Mar 23, 2018 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Losing friends/family when wealthy
Replies: 118
Views: 13162

Re: Losing friends/family when wealthy

Flashes and assistca1, it sounds like you need new friends. I am fairly confident my wife and I are far wealthier than almost all of our friends, old and new, and have never felt even a twinge of resentment directed at us. We don't flaunt it, though we have an expensive house. Maybe so! I haven't m...
by Flashes1
Fri Mar 23, 2018 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Losing friends/family when wealthy
Replies: 118
Views: 13162

Re: Losing friends/family when wealthy

In my experience: - The only people who truly root on your success are your parents. ... and hopefully your life-partner, too. I can honestly say that I can't say much to her: 1) a few years ago after I told her about achieving a certain NW milestone she jokingly said that meant should could start ...
by Flashes1
Fri Mar 23, 2018 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Losing friends/family when wealthy
Replies: 118
Views: 13162

Re: Losing friends/family when wealthy

Thank you Flashes. What you have posted is what I have been experiencing. Yea, it's the old friends I worry about. If they can't support you having a good job and doing well with rental properties then it's probably time to drift away. Just be cognizant that the problem might be with you and acting...
by Flashes1
Fri Mar 23, 2018 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Losing friends/family when wealthy
Replies: 118
Views: 13162

Re: Losing friends/family when wealthy

Triple post! Sorry! :P
by Flashes1
Fri Mar 23, 2018 10:37 am
Forum: Personal Finance (Not Investing)
Topic: Losing friends/family when wealthy
Replies: 118
Views: 13162

Re: Losing friends/family when wealthy

double post
by Flashes1
Fri Mar 23, 2018 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Losing friends/family when wealthy
Replies: 118
Views: 13162

Re: Losing friends/family when wealthy

In my experience: - The only people who truly root on your success are your parents. When you get that big promotion or you buy that big house or make that big investment in a new business----your parents are the only one's who are excited for you without having some kind of ulterior(sp) motive. - O...
by Flashes1
Fri Mar 23, 2018 8:40 am
Forum: Personal Investments
Topic: Wrapping my head around bond funds
Replies: 57
Views: 8172

Re: Wrapping my head around bond funds

The last 10 years, investors got used to the positive effects lower interest rates had on the returns of their bond funds. That's a long enough period to cement one's expectations that bond funds always increase in value. Now that interest rates are increasing, it's jarring to see those returns turn...
by Flashes1
Mon Mar 19, 2018 10:26 am
Forum: Personal Finance (Not Investing)
Topic: Those with high savings rate: why?
Replies: 249
Views: 40447

Re: Those with high savings rate: why?

I've had a couple bouts of unemployment that put the fear of God into me.
by Flashes1
Sun Mar 18, 2018 5:49 pm
Forum: Personal Consumer Issues
Topic: Best year round shrub/plant in Northeast for privacy
Replies: 18
Views: 1995

Re: Best year round shrub/plant in Northeast for privacy

Green Giant arborvitae is the greatest screening bush that I know of. Fast growers that can reach up to 40 feet high.