Search found 321 matches

by BlackStrat
Thu Sep 22, 2022 5:43 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated state taxes – payment method
Replies: 10
Views: 874

Re: Estimated state taxes – payment method

I’m in Maryland so I’ll check to see they have something similar.

Thanks for all the replies.
by BlackStrat
Thu Sep 22, 2022 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Estimated state taxes – payment method
Replies: 10
Views: 874

Estimated state taxes – payment method

With all of the recent discussions about mailing a check (and the fraud associated with it), I’m starting to rethink my current method of mailing my quarterly estimated tax check (along with the Quicken coupon) to my state comptroller.
I would electronically send a payment, but I’m afraid it will get lost in the shuffle and I’m unsure if there’s a verification method from the state (I currently receive no verification when I mail a check)
What method do you recommend for both payment of estimated taxes and verification of the receipt from your state?
by BlackStrat
Mon Jun 13, 2022 8:25 am
Forum: Personal Investments
Topic: Lost 1 million ! Any body else in same boat ? Looking for some reassurance
Replies: 394
Views: 59871

Re: Lost 1 million ! Any body else in same boat ? Looking for some reassurance

Look at the bright side: it may be a fantastic time to do Roth conversions!
by BlackStrat
Mon May 02, 2022 7:46 am
Forum: Personal Finance (Not Investing)
Topic: Calculating net worth
Replies: 9
Views: 1409

Re: Calculating net worth

If you want to calculate what your net worth would be valued at while still alive (and considering all assets and guaranteed income streams), you can roughly estimate and include the value of a pension (for example $40,000 a year in pension can be considered an additional $1 million to your net worth); but this obviously wouldn’t apply to an amount to pass on to heirs in your estate.
by BlackStrat
Sat Apr 30, 2022 8:21 am
Forum: Personal Investments
Topic: $600K on the sidelines
Replies: 29
Views: 4881

Re: $600K on the sidelines

I would keep out an appropriate percentage in cash to pay the Capital gains taxes on it.
by BlackStrat
Tue Apr 12, 2022 7:52 am
Forum: Personal Investments
Topic: BRK vs S&P 500 w/ Inflation, Fed Rate and other data
Replies: 19
Views: 1954

Re: BRK vs S&P 500 w/ Inflation, Fed Rate and other data

I like it - maybe you can freeze the headings in the first row?
by BlackStrat
Fri Apr 01, 2022 8:50 am
Forum: Personal Investments
Topic: How To Handle A Large Inheritance
Replies: 30
Views: 5067

Re: How To Handle A Large Inheritance

I have an acquaintance who inherited a relatively large amount years back and left it in a American funds mutual fund which now generates $36k per year in capital gains. Between that, a pension, Social Security, and future RMD’s, a tax bomb awaits. She now regrets not converting everything to a simple index fund at time of inheritance, and would be forced to pay capital gains to do so. If it were me, I would take all of the pre-tax money ($850k?) and put it in bond funds and the rest I would simply cash out and put into the total stock market index fund (unless you’d like to allocate a portion of that to international as well). Tax efficiency, diversification, and low cost should work wonders for this investment over the next 20-30 years. Y...
by BlackStrat
Thu Feb 24, 2022 8:16 am
Forum: Investing - Theory, News & General
Topic: I can't believe I am thinking this [Panic and Survival 2008-09]
Replies: 526
Views: 468974

Re: I can't believe I am thinking this [Panic and Survival 2008-09]

“Everyone has a plan until they get punched in the face.”

- Mike Tyson
by BlackStrat
Sun Feb 20, 2022 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Inflation is real and 7% seems like lowballing it
Replies: 36
Views: 3083

Re: Inflation is real and 7% seems like lowballing it

I feel your pain - it seems much worse than 7%.

How much was the babysitter?
by BlackStrat
Fri Jul 02, 2021 10:37 am
Forum: Investing - Theory, News & General
Topic: "How I Did It" -- John Bogle
Replies: 17
Views: 3626

Re: "How I Did It" -- John Bogle

Great article Taylor!
… always good to look back at history.
by BlackStrat
Wed Jun 23, 2021 8:31 am
Forum: Personal Finance (Not Investing)
Topic: After Action Review Funding My Revocable Living Trust
Replies: 19
Views: 3312

Re: After Action Review Funding My Revocable Living Trust

Instead of titling a fund in the name of the trust, is it possible to simply list the trust as the primary beneficiary for each fund?
by BlackStrat
Mon May 10, 2021 8:18 am
Forum: Investing - Theory, News & General
Topic: I’m writing a really basic investor’s guide for my [adult children] - input welcome
Replies: 79
Views: 16964

Re: I’m writing a really basic investor’s guide for my [adult children] - input welcome

I think the opening approach in the “Bogleheads Guide to Investing” may be an effective method; give fictional examples of how different people manage their money and briefly discuss the long-term effects and results. After all, isn’t that part of the draw to this site? An interest in how other people have managed their finances? For example, mention what would happen if their parents (you) had saved four dollars a day from the date of their birth (instead of splurging on Starbucks) and show what compounding interest would’ve done to that small, daily amount over the kids’ lifetime. Then (jokingly) apologize for having NOT done that but explain that 30 years from now they’ll sure be glad they took the lesson to heart if they chose to develo...
by BlackStrat
Fri May 07, 2021 10:07 am
Forum: Personal Finance (Not Investing)
Topic: What do you wish you knew before you retired you know now!
Replies: 155
Views: 37186

Re: What do you wish you knew before you retired you know now!

On the contrary!!! Why you need to have a Roth IRA Let’s look at your future self. Suppose you are age 70, would you be glad you had tax-deferred accounts that had grown to $2M or would you be glad that you had $1.5M in a Roth IRA? Or would you like half of each? [Forget the math for the moment and decide your answer before continuing] If all/most of your retirement money is in tax-deferred, you will have to start withdrawing RMDs and pay taxes on every dollar withdrawn, regardless if you need the money for spending or not and regardless of what your tax bracket is at that time. By the time you pay the taxes, there will less left over and the tax bracket will be unknown until then. There is also a surcharge on those Medicare beneficiaries ...
by BlackStrat
Fri May 07, 2021 9:17 am
Forum: Personal Finance (Not Investing)
Topic: What do you wish you knew before you retired you know now!
Replies: 155
Views: 37186

Re: What do you wish you knew before you retired you know now!

On the contrary!!! Why you need to have a Roth IRA Let’s look at your future self. Suppose you are age 70, would you be glad you had tax-deferred accounts that had grown to $2M or would you be glad that you had $1.5M in a Roth IRA? Or would you like half of each? [Forget the math for the moment and decide your answer before continuing] If all/most of your retirement money is in tax-deferred, you will have to start withdrawing RMDs and pay taxes on every dollar withdrawn, regardless if you need the money for spending or not and regardless of what your tax bracket is at that time. By the time you pay the taxes, there will less left over and the tax bracket will be unknown until then. There is also a surcharge on those Medicare beneficiaries ...
by BlackStrat
Wed May 05, 2021 6:46 am
Forum: Investing - Theory, News & General
Topic: How Do You React After a Market Decline?
Replies: 66
Views: 5710

Re: How Do You React After a Market Decline?

I’m still learning but it sounds like a great time to do Roth conversions.
by BlackStrat
Thu Apr 22, 2021 7:43 am
Forum: Investing - Theory, News & General
Topic: Hit Millionaire Status! [Does anyone shift when they hit a milestone?]
Replies: 151
Views: 26869

Re: Hit Millionaire Status! [Does anyone shift when they hit a milestone?]

Another way to think about it:
I’m sure your 31-year-old self is thanking your 20 something year-old self for making the decision to invest.
Trust me, when you’re in your 50s or 60s, you’ll be happy that you kept that time of your life in focus with your investments at your current age.
Leaving a legacy for your children may also be welcome; especially considering the possible state of the world at that time
by BlackStrat
Tue Mar 23, 2021 8:44 am
Forum: Personal Investments
Topic: Pre-retirement to-do list
Replies: 31
Views: 4375

Re: Pre-retirement to-do list

I had a list of things I just didn’t feel like doing while working, and now that I’m recently retired I still don’t feel like doing them!
by BlackStrat
Sat Mar 06, 2021 7:58 am
Forum: Personal Investments
Topic: Retirement check up
Replies: 12
Views: 2598

Re: Retirement check up

ososnilknarf wrote: Fri Mar 05, 2021 11:39 pm
His SS: $43,932 (taken at 70 based on SS website)
Her SS: $22,896 (taken at 70 based on SS website)
Are you sure this amount isn’t based on the idea of both of you working and contributing to SS until 70?
by BlackStrat
Wed Feb 24, 2021 6:55 am
Forum: Personal Investments
Topic: Parents gifting my infant son $10k. What's the smartest way to invest it?
Replies: 45
Views: 5398

Re: Parents gifting my infant son $10k. What's the smartest way to invest it?

We had the exact same situation and invested in a prepaid tuition plan. I regret it now because 18-20 years of VTSAX would’ve been a superior investment and more flexible.
by BlackStrat
Fri Aug 14, 2020 10:28 am
Forum: Personal Investments
Topic: financial advisors
Replies: 8
Views: 1076

Re: financial advisors

Another welcome!

One thing to think about is that most people, when they retire, only have a portfolio which can sustain a 4% withdrawal a year over 30 years without running out of savings. If you're giving your advisor more than 25% of that every year throughout your career - imagine how that drains any growth potential.

Do a quick read on SWR (Safe Withdrawal Rate) and the Trinity Study.

Good luck!
by BlackStrat
Thu May 21, 2020 6:52 am
Forum: Personal Investments
Topic: Advice for 22 year old on investing for home downpayment?
Replies: 29
Views: 2280

Re: Advice for 22 year old on investing for home downpayment?

I waited until my early 30's to buy my house. Prior to that I shared a rental with my brother and always at least another friend or two. They were some of the best days of my life (we had a lot of fun) but I regret not biting the bullet, buying a house earlier and renting rooms out to them to help cover my mortgage for those years - imagine the wealth (and tax break) which would've been realized.

Of course, as landlord you may have a different idea of how much fun a keg party is when you own the place!
by BlackStrat
Fri Mar 20, 2020 7:40 am
Forum: Personal Investments
Topic: When will S&P 500 go back to 3386 ?
Replies: 98
Views: 8827

Re: When will S&P 500 go back to 3386 ?

depends on the election

if one guy wins: November 2020
if the other guy wins: November 2024

:oops:
by BlackStrat
Fri Mar 06, 2020 7:47 am
Forum: Investing - Theory, News & General
Topic: Be fearful when others are greedy. Be greedy when others are fearful.
Replies: 129
Views: 11544

Re: Be fearful when others are greedy. Be greedy when others are fearful.

I wasn't worried until I went to Costco - not a roll of toilet paper to be found!

Can anyone spare a square?
by BlackStrat
Thu Mar 05, 2020 7:18 am
Forum: Personal Investments
Topic: New to Vanguard
Replies: 7
Views: 669

Re: New to Vanguard

Peter - welcome to the Forum. Vanguard has indeed had trouble keeping up with their recent explosive success, but they do excel at providing low fees for the investor comfortable with his own investing approach. May I suggest you use this forum and the thousands of members who have all of our own interests in mind to help you through any questions you may have had for an advisor? I've seen some bad advice on this forum but in most cases the person giving it is quickly called out and corrected by others. I'm sure someone will chime in with some elementary reading on investment philosophy (if you haven't already been exposed to it) to understand the Boglehead way of investing. Best of luck and I hope you come to value this site and it's membe...
by BlackStrat
Thu Mar 05, 2020 7:12 am
Forum: Personal Investments
Topic: Another Edward Jones and other Financial Advisor "Lessons to Share"
Replies: 80
Views: 11896

Re: Another Edward Jones and other Financial Advisor "Lessons to Share"

tvubpwcisla wrote: Thu Mar 05, 2020 5:58 am Edward Jones is not intentionally trying to rip people off. Sure, they have fees and might be on the higher end of what investment firms charge; however, they do provide a service and do their best to help investors make money. If you don't want to use them, simply transfer the funds elsewhere. I use them for a small portion of my portfolio and I'm okay paying the fees. I may be losing out on some returns but I'm okay with that. They would not be my first choice when building a new equity portfolio; however, I think they are a good company trying to help people invest in the financial markets. I don't think they are in business to hurt people.
Uh oh.....Get ready to duck under your desk!

:shock:
by BlackStrat
Sun Mar 01, 2020 5:48 pm
Forum: Personal Investments
Topic: Another Edward Jones and other Financial Advisor "Lessons to Share"
Replies: 80
Views: 11896

Re: Another Edward Jones and other Financial Advisor Lessons

Rosencrantz1 wrote: Sun Mar 01, 2020 3:54 pm I think he's much more interested in golf than anything in the markets :happy
Tell him that matching index performance in our investments (via an index fund and without advisor fees) is like shooting par in golf; the majority of weekend golfers would be really happy to do so.
by BlackStrat
Mon Feb 17, 2020 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Grandma wants to skip generation with inheritance
Replies: 31
Views: 7064

Re: Grandma wants to skip generation with inheritance

michaeljc70 wrote: Tue Feb 11, 2020 10:05 am I don't have anything to add, but at age 88 and entering assisted living, I wouldn't slow walk this.
Horrible update: my friends mother died suddenly with no will or legal document signed in time.
by BlackStrat
Tue Feb 11, 2020 12:55 pm
Forum: Investing - Theory, News & General
Topic: Year 2000 retirees using the '4% rule' - Where are they now?
Replies: 1177
Views: 205665

Re: Year 2000 retirees using the '4% rule' - Where are they now?

My approach is a 3.3% WR from age 60-65 (while DW is still working) and then a 4% WR from 65-70 (when she retires & starts collecting SS and we can travel) and then 3.26% at age 70 when my SS will kick in to make up the difference. I haven't done any technical analysis on this but it looks pretty good on my spreadsheet, and we have hopes to leave a legacy. What's the RMD rate after 70? I don't think you can keep it at 3.26% forever.... Edited to add: I just looked at an (old) table, and the RMD at age 70 starts at 3.69%. RMDs are withdrawals from tax-deferred accounts but need not be spent. Many reinvest at least a portion of them in taxable account. This WR will be from my entire portfolio. Currently I'm at 57% taxable and 43% pretax.
by BlackStrat
Tue Feb 11, 2020 8:49 am
Forum: Investing - Theory, News & General
Topic: Year 2000 retirees using the '4% rule' - Where are they now?
Replies: 1177
Views: 205665

Re: Year 2000 retirees using the '4% rule' - Where are they now?

My approach is a 3.3% WR from age 60-65 (while DW is still working) and then a 4% WR from 65-70 (when she retires & starts collecting SS and we can travel) and then 3.26% at age 70 when my SS will kick in to make up the difference.

I haven't done any technical analysis on this but it looks pretty good on my spreadsheet, and we have hopes to leave a legacy.
by BlackStrat
Tue Feb 11, 2020 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Worried About AI Taking Your Job?
Replies: 54
Views: 4593

Re: Worried About AI Taking Your Job?

I'm pessimistic about it.

Pretty soon robot repairman will be replaced by robots.
by BlackStrat
Tue Feb 11, 2020 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Grandma wants to skip generation with inheritance
Replies: 31
Views: 7064

Re: Grandma wants to skip generation with inheritance

you're absolutely right and I came to that conclusion early on - this should be done legitimately via an estate attorney.

If the grandmother survives for years and ends up in nursing care, her portfolio may be depleted quickly and it will all be moot.

Capsu78 - those ARE some horror stories! Like passing an accident, it was hard to look away!
by BlackStrat
Mon Feb 10, 2020 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Grandma wants to skip generation with inheritance
Replies: 31
Views: 7064

Re: Grandma wants to skip generation with inheritance

thanks to all for some great input; I'll advise friend about options with suggestion to contact estate attorney.
by BlackStrat
Mon Feb 10, 2020 9:21 am
Forum: Personal Finance (Not Investing)
Topic: Grandma wants to skip generation with inheritance
Replies: 31
Views: 7064

Re: Grandma wants to skip generation with inheritance

JoeRetire wrote: Mon Feb 10, 2020 9:19 am
BlackStrat wrote: Mon Feb 10, 2020 8:43 am His 88 year-old mother wants to leave whatever is left of her estate to her 18 year-old granddaughter (and skip her 2 children).
Why?
Is this the only grandchild?
I believe so. No idea why she wants to skip her kids - that's a family dynamic of which I'm not aware.
by BlackStrat
Mon Feb 10, 2020 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Grandma wants to skip generation with inheritance
Replies: 31
Views: 7064

Re: Grandma wants to skip generation with inheritance

Stinky wrote: Mon Feb 10, 2020 9:17 am A key question is whether the two children, and especially the son, are happy with being “skipped” in favor of the granddaughter. I can imagine some real complications if the son inherits the money, but then doesn’t follow grandma’s wishes to pass it on to granddaughter.

I’d definitely get an estate attorney involved, who can ascertain what grandma’s desires are and set up the legal structure to make it happen.
Bingo!

I agree - the thought makes me shudder.
by BlackStrat
Mon Feb 10, 2020 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Grandma wants to skip generation with inheritance
Replies: 31
Views: 7064

Re: Grandma wants to skip generation with inheritance

OP here - thx for the responses.

They haven't thought this out. It's simply the grandma expressing a desire to leave everything to the granddaughter.

To avoid the complications (and expense) of a trust, he said they mentioned her simply willing the estate to him (and excluding his sibling) with the understanding that he would pass on the funds to the granddaughter when appropriate (no trust involved). However if he were to invest $800k and wait 20 years to pass it on, we're talking pretty large tax ramifications over that time with capital gains and dividends which would complicate his tax returns.

No other grandchildren will be involved as both immediate heirs are nearing 60.
by BlackStrat
Mon Feb 10, 2020 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Grandma wants to skip generation with inheritance
Replies: 31
Views: 7064

Grandma wants to skip generation with inheritance

I received an unusual question from a friend who knows I enjoy investments and personal finance. Background: His 88 year-old mother wants to leave whatever is left of her estate to her 18 year-old granddaughter (and skip her 2 children). Her current net worth is around $800k but she's getting ready to enter an assisted living facility. Her yearly income (pensions & IRA RMD) are about $77k so she's close to covering living expenses until she enters nursing care when she'll need to draw from her portfolio. Barring unforeseen medical expenses, there should be something left when she passes. I did a quick review online and discovered the GST (Generation Skipping Transfer) trust. However it appears to be designed for high net worth people as...
by BlackStrat
Wed Jan 08, 2020 9:26 am
Forum: Investing - Theory, News & General
Topic: In my opinion, Best Overall Retirement Article
Replies: 95
Views: 12601

Re: In my opinion, Best Overall Retirement Article

averagedude wrote: Tue Jan 07, 2020 9:37 pm Anyone who says to keep working until you are not able to, surely doesn't work in a lug nut factory.
Or an Anvil factory!!

:shock:
by BlackStrat
Thu Dec 12, 2019 9:54 am
Forum: Personal Finance (Not Investing)
Topic: How not to feel poor...
Replies: 78
Views: 14632

Re: How not to feel poor...

MathIsMyWayr wrote: Thu Dec 12, 2019 12:11 am
Cosmic Pony wrote: Sun Dec 01, 2019 2:46 pm Taxable investment accounts: $408,000 (mostly vanguard total stock index)
Traditional IRA Accounts: $988,000 (mostly a 40/60 mix of Vanguard total stock, blue chip stocks and bonds)
Roth Accounts: $132,000 (a mix of blue chip stocks and REITS)
Dividend income: Roughly $40,000 a year from stocks and REITS
Curious how do you receive dividend income of roughly $40,000 a year from taxable investment accounts of $408,000?
I was curious about this as well; thought it was an issue with my math skills but glad 'MathisMyWay' has the same question.
by BlackStrat
Fri Jul 26, 2019 8:27 am
Forum: Personal Investments
Topic: What to do in a crash
Replies: 65
Views: 8792

Re: What to do in a crash

completely ignore the market while DCA-ing into it.

Then look back in 10 years and exclaim "whoa - I lost hundreds of thousands of dollars in that last crash 5 years ago"!

ignorance is bliss
by BlackStrat
Fri Jul 19, 2019 6:34 am
Forum: Personal Finance (Not Investing)
Topic: Substantial position in an individual stock
Replies: 31
Views: 3235

Re: Substantial position in an individual stock

+1 on DAF.

Since the tax law last year minimized the tax benefit for smaller donations, you can fund a DAF with the next 5 years worth of what you would contribute to charity (and get a big tax break on your 2019 earnings). Then dollar cost average what you would've contributed each upcoming year into your boglehead portfolio.
by BlackStrat
Thu Jun 06, 2019 7:28 am
Forum: Investing - Theory, News & General
Topic: Thank you, Taylor Larimore!
Replies: 49
Views: 8601

Re: Thank you, Taylor Larimore!

Taylor Larimore: a hero in more ways than one!
by BlackStrat
Mon May 27, 2019 6:34 am
Forum: Personal Finance (Not Investing)
Topic: Car dealer 1.9% financing vs Ally CD ladder
Replies: 4
Views: 982

Re: Car dealer 1.9% financing vs Ally CD ladder

I calculated a small gain with the CD 's but didn't even think about taxes.

Not worth it - thanks
by BlackStrat
Sun May 26, 2019 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Car dealer 1.9% financing vs Ally CD ladder
Replies: 4
Views: 982

Car dealer 1.9% financing vs Ally CD ladder

I have the cash to buy outright but what kind of rate difference would make it worthwhile to manage a CD ladder with a 5-year loan?
by BlackStrat
Thu Apr 18, 2019 6:43 am
Forum: Personal Finance (Not Investing)
Topic: In Laws Retirement Nest Egg
Replies: 156
Views: 18595

Re: In Laws Retirement Nest Egg

"They'd need to not joke about someone else being their financial backup plan."

That's really funny - I have to use this line on my brother just to see his reaction! :twisted:
by BlackStrat
Wed Apr 17, 2019 9:00 am
Forum: Personal Finance (Not Investing)
Topic: C. Benz/Morningstar- What You Can Learn From Your 2018 Tax Return
Replies: 2
Views: 994

Re: C. Benz/Morningstar- What You Can Learn From Your 2018 Tax Return

That was a useful article and well worth the review - thanks for posting
by BlackStrat
Thu Apr 11, 2019 7:03 am
Forum: Personal Investments
Topic: Leave out the bond fund of the 3 fund portfolio??
Replies: 40
Views: 4603

Re: Leave out the bond fund of the 3 fund portfolio??

I spent my entire career in 100% stocks (blissful ignorance)

The ONLY thing that made it palatable is the fact that I rarely looked at my portfolio, so even 2008 didn't bother me much and I assumed I'd never be able to retire.

Fast forward to discovering the Bogleheads who talked me off the thin sheet of ice I was standing on and made me realize I can now possibly retire early if desired or necessary.

(now 70/30 but leaning towards increasing my bond allocation to 35 or 40 soon)
by BlackStrat
Tue Apr 02, 2019 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Does anyone here with net worths north of $1 mil use financial advisors?
Replies: 454
Views: 87470

Re: Does anyone here with net worths north of $1 mil use financial advisors?

Why give an FA roughly 25% of your retirements' safe withdrawal rate (SWR) when you can probably easily beat his performance (the majority of years) with a simple 2-3 fund portfolio?
by BlackStrat
Tue Apr 02, 2019 8:24 am
Forum: Investing - Theory, News & General
Topic: I hate bonds
Replies: 116
Views: 17754

Re: I hate bonds

The way I see it, Bond funds in my 401k allow me to take advantage of downturns in the stock market by providing me the funds to buy low and rebalance.

It's a see-saw effect which provides both (relative) safety and the ability to buy at an attractive price when you don't have other significant cash on hand.
by BlackStrat
Tue Mar 19, 2019 9:25 am
Forum: Investing - Theory, News & General
Topic: Favorite investment quote
Replies: 73
Views: 6078

Re: Favorite investment quote

"A bull market is like sex - it feels best right before it ends"

-unknown
by BlackStrat
Thu Mar 07, 2019 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Intro and Personal Finance Advice
Replies: 59
Views: 7001

Re: Intro and Personal Finance Advice

First of all don't kick yourself on how you got here. This is the transition point in time where you're going to get out of debt and build wealth to prepare for your retirement.

Definitely focus on getting out of debt asap.

Read Taylor Larimore's "Bogleheads Guide to Investing".

Talk with your wife and develop a financial plan you both buy into.

Congratulations on finding this site - recognition that you need to change your ways is the first step to solving things. Before you know it, you'll be debt-free and on your way to fiscal freedom.

Good luck!