Search found 21 matches

by cncm
Sun Sep 29, 2019 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Do you know what your partner spends money on?
Replies: 80
Views: 6038

Do you know what your partner spends money on?

For those who do joint finances with their spouse - how do you go about budgeting and tracking your finances? Right now, my spouse and I each deposit our paychecks to the same checking account and pay our separate credit card bills from that account. The problem is, no one really knows what the othe...
by cncm
Mon Sep 16, 2019 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area teacher saving half my income – why the doubt? (and asking more questions)
Replies: 493
Views: 26060

Re: Bay Area teacher saving half my income – why the doubt? (and asking more questions)

First of all, congrats on such an impressive achievement, OP! Truly commendable you’re able to save so much and yet still live a full and meaningful life in such a VHCOL place. I’m learning a lot from this thread. My question to you is not finance related, but rather, career related. Can you talk mo...
by cncm
Wed Aug 14, 2019 10:08 am
Forum: Personal Investments
Topic: Laid off - 59yo - advice please
Replies: 44
Views: 6964

Re: Laid off - 59yo - advice please

It doesn’t sound like you have a huge shortfall. I would look for any minimum wage job to tide you over while you build your freelance portfolio. I would rather do that than relocate to another state or even country as some are suggesting.
by cncm
Sun Aug 04, 2019 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Schwab as a one stop shop
Replies: 62
Views: 6576

Re: Schwab as a one stop shop

I've been with Schwab for 10+ years, and can recommend them whole-heartedly. I first opened an account with them for the free ATM withdrawal benefit (extremely useful when traveling...no need to carry USD cash to convert...just take it directly out of the ATM for better exchange rate and more securi...
by cncm
Thu Jul 25, 2019 6:21 am
Forum: Personal Finance (Not Investing)
Topic: Transferring property to parent
Replies: 14
Views: 987

Re: Transferring property to parent

I’m not a real estate expert, but If you have been depreciating on your taxes, it seems one of you should have to pay taxes on the depreciated amount. In the worst case, it has been depreciated down to 0. Then, shouldn’t that be her cost basis? Yes, if this is truly a gift, donee acquires donor’s b...
by cncm
Wed Jul 24, 2019 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Transferring property to parent
Replies: 14
Views: 987

Re: Transferring property to parent

Nate79 wrote:
Wed Jul 24, 2019 1:32 pm
You said investment property. Was this a rental property?
Yes - rental. Planning to keep it a rental property after the transfer
by cncm
Wed Jul 24, 2019 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Transferring property to parent
Replies: 14
Views: 987

Re: Transferring property to parent

I have a fully paid off investment property I would like to transfer to my mom so she can own it outright (not joint). What’s the best way to do this to minimize taxes? The property is worth ~$290k and I bought it many years ago for $110k. My understanding is this will be treated as a gift but woul...
by cncm
Wed Jul 24, 2019 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Transferring property to parent
Replies: 14
Views: 987

Transferring property to parent

I have a fully paid off investment property I would like to transfer to my mom so she can own it outright (not joint). What’s the best way to do this to minimize taxes? The property is worth ~$290k and I bought it many years ago for $110k. My understanding is this will be treated as a gift but would...
by cncm
Thu Jul 11, 2019 9:24 am
Forum: Personal Investments
Topic: Why not post-tax investment in US for people from Home Country - India
Replies: 34
Views: 3384

Re: Why not post-tax investment?

If you sell your after-tax investments (in a brokerage account) once you retire early (say at 50), when you have zero income...do your long term capital gains get taxed at zero?
by cncm
Thu Dec 27, 2018 12:37 pm
Forum: Personal Investments
Topic: selling tickets StubHub - Solo 401K?
Replies: 27
Views: 2323

Re: selling tickets StubHub - Solo 401K?

Wow, i did not realize you have to pay taxes on your stubhub ticket resales...do people also pay taxes on stuff you sell on eBay? What if you sold at a loss? Can you deduct that from your income?
by cncm
Sun Oct 28, 2018 3:35 pm
Forum: Investing - Theory, News & General
Topic: Are you too wealthy for a LIQUID emergency fund?
Replies: 29
Views: 5199

Re: Are you too wealthy for a LIQUID emergency fund?

My work pays a pretty generous severance (~10months salary given my seniority/tenure) so I don’t keep a huge emergency fund (about 2 months living expenses). I figure if I get laid off, I’m set for one year without even touching my investments/savings.
by cncm
Fri Jul 27, 2018 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: Decision for Stay at Home Wife?
Replies: 84
Views: 4179

Re: Decision for Stay at Home Wife?

Disagree strongly that the difference is $600 between having your wife stay at home vs work. Keep in mind, she’s giving up not just her current income, but future income as well. Whenever she does decide to return to work, she’ll likely have trouble getting anything more than entry level job, where...
by cncm
Fri Jul 27, 2018 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Decision for Stay at Home Wife?
Replies: 84
Views: 4179

Re: Decision for Stay at Home Wife?

Disagree strongly that the difference is $600 between having your wife stay at home vs work. Keep in mind, she’s giving up not just her current income, but future income as well. Whenever she does decide to return to work, she’ll likely have trouble getting anything more than entry level job, wherea...
by cncm
Wed May 09, 2018 11:23 am
Forum: Personal Investments
Topic: Pension. Lump sum or monthly payments.
Replies: 10
Views: 1286

Re: Pension. Lump sum or monthly payments.

To me, this is a no brainer - I would take the monthly payments. $2500 per month is equivalent to 7% risk free yield on a $440k investment...that’s far superior to anything else you’ll find in the market. Plus, you transfer the investment risk to the company rather than bear it yourself. The only ca...
by cncm
Mon Mar 26, 2018 9:18 pm
Forum: Personal Consumer Issues
Topic: Savannah or Charleston?
Replies: 49
Views: 5387

Re: Savannah or Charleston?

If you're at all a foodie, then definitely Charleston!
by cncm
Sat Mar 17, 2018 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Those with high savings rate: why?
Replies: 249
Views: 39229

Re: Those with high savings rate: why?

I save because I grew up poor and don't want to be constrained by money (or lack thereof). I save because even though I work in a high paying field, it's not something I'm passionate about doing. I'd like to switch to a lower paying but more personally fulfilling career at some point down the road. ...
by cncm
Thu Mar 15, 2018 7:37 pm
Forum: Personal Consumer Issues
Topic: Large life style creep that was completely worth it
Replies: 112
Views: 16878

Re: Large life style creep that was completely worth it

For us, the biggest lifestyle creep has been: 1) dining out almost exclusively...we don't cook anymore. We don't go to extravagant places, but still spend $40-80 every night for dinner, and 2) nice hotels when we're on vacation...long gone are they days of $20 bunk beds in a crowded hostel. We now a...
by cncm
Tue Mar 13, 2018 7:01 pm
Forum: Personal Investments
Topic: Any reason not to open a 529? (young investor)
Replies: 21
Views: 2147

Re: Any reason not to open a 529? (young investor)

I do this already, even though we don't have kids yet. I figure we should save now when financial pressures are minimal (we're DINKs) and effective tax rates are high, and once we have kids and one/both of us take lower paying jobs, we can just watch the balance grow (compounding returns FTW). Righ...
by cncm
Tue Mar 13, 2018 6:40 pm
Forum: Personal Investments
Topic: Any reason not to open a 529? (young investor)
Replies: 21
Views: 2147

Re: Any reason not to open a 529? (young investor)

I do this already, even though we don't have kids yet. I figure we should save now when financial pressures are minimal (we're DINKs) and effective tax rates are high, and once we have kids and one/both of us take lower paying jobs, we can just watch the balance grow (compounding returns FTW). Right...
by cncm
Tue Dec 12, 2017 6:08 pm
Forum: Investing - Theory, News & General
Topic: bitcoin - is there any real value here or is it a pure Ponzi scam?
Replies: 236
Views: 26360

Re: bitcoin - is there any real value here or is it a pure Ponzi scam?

https://www.washingtonpost.com/news/wonk/wp/2017/12/12/bitcoin-is-the-most-perfect-bubble-possible/ Bitcoin transactions are up 25% this year yet the value of it is up 2000%?? Blockchain is supposed to eliminate transaction costs yet you still have to pay miners a hefty fee in order to use your bitc...
by cncm
Sun Apr 19, 2015 3:22 pm
Forum: Personal Investments
Topic: What should I invest in? Rental property or stocks?
Replies: 6
Views: 1584

What should I invest in? Rental property or stocks?

I have about 150k sitting in cash (bad, I know), not sure what to do with it. I'm wary of putting it into the market because I think a correction could be coming and would rather wait until then. I've been thinking of buying a rental property in a hot area that has potential for significant apprecia...