Search found 92 matches

by jburke
Mon Oct 19, 2020 4:25 pm
Forum: Personal Investments
Topic: Can/Should I retire now?
Replies: 57
Views: 8867

Re: Can/Should I retire now?

It's been almost three years since I wrote this post and I am still working at the same job. My net worth is now $3.7M, everything else is similar except I sold one of my properties. Would you retire now if you were in my situation?
by jburke
Wed Nov 06, 2019 11:21 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax 2019 on Amazon
Replies: 347
Views: 38229

Re: Turbotax 2019 on Amazon

Can Deluxe handle rental properties - Schedule E?
by jburke
Mon Feb 11, 2019 1:08 pm
Forum: Personal Consumer Issues
Topic: What is a Boglehead funeral/burial?
Replies: 153
Views: 9625

Re: What is a Boglehead funeral/burial?

I'll donate my body to science then have the cremated remains sold as lawn and garden soil amendment.
by jburke
Tue Aug 28, 2018 9:39 am
Forum: Personal Consumer Issues
Topic: Recommend a good SOCK. Yes, I said SOCK!
Replies: 83
Views: 9074

Re: Recommend a good SOCK. Yes, I said SOCK!

DSInvestor wrote: Tue Aug 28, 2018 1:29 am Darn Tough socks are the best socks I've ever worn.
+1 for Darn Tough Socks - Life Time Warranty
by jburke
Wed Aug 08, 2018 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Google Sheet Personal Finance Manager
Replies: 20
Views: 6063

Re: Google Sheet Personal Finance Manager

Steal away! And if you have anything that you think could improve my sheet, please share.
by jburke
Wed Aug 08, 2018 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Google Sheet Personal Finance Manager
Replies: 20
Views: 6063

Re: Google Sheet Personal Finance Manager

New Version: https://docs.google.com/spreadsheets/d/13_d7rgvFdWT_3_7Yt_NYQxm_ZXHbSHiX2sXn9tJHQjY/edit?usp=sharing I've added the following capabilities: 1. You can differentiate between pre-tax and after tax retirement accounts 2. You can reinvest taxable dividends for cost-basis inclusion 3. Social...
by jburke
Fri Aug 03, 2018 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefit Calculator made in Google Sheets
Replies: 6
Views: 1253

Re: Social Security Benefit Calculator made in Google Sheets

I used this calculator: https://www.ssa.gov/oact/anypia/anypia.html It states: "The current version of the Detailed Calculator is 2018.1, which we released on December 15, 2017. It updates the 2017.2 version with the new economic information from the automatic adjustments announced in the fall of 20...
by jburke
Wed Aug 01, 2018 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Google Sheet Personal Finance Manager
Replies: 20
Views: 6063

Re: This personal finance workbook is great!

New Version Coming Soon.
by jburke
Tue Jul 31, 2018 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefit Calculator made in Google Sheets
Replies: 6
Views: 1253

Re: Social Security Benefit Calculator made in Google Sheets

I think I figured it out. I wasn't adjusting for inflation from age 62 on. I added a 3% inflation factor, and now my estimates are much closer. For Age 62, my calculator estimate is 1.7% less than SSA calculator estimate. For Age 67, I'm off by -4%, and by Age 70 I'm off by +2%. I'm good with these ...
by jburke
Mon Jul 30, 2018 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefit Calculator made in Google Sheets
Replies: 6
Views: 1253

Social Security Benefit Calculator made in Google Sheets

I created a custom Social Security Benefit calculator but I'm worried it is not estimating benefits correctly. I read through all the available government literature on how to estimate benefits. When I compared the results in my sheet to the SSA official calculator, the amounts were very similar at ...
by jburke
Mon Jul 30, 2018 2:34 am
Forum: Personal Finance (Not Investing)
Topic: Google Sheet Personal Finance Manager
Replies: 20
Views: 6063

Re: This personal finance workbook is great!

New Version Coming Soon.
by jburke
Fri Jul 27, 2018 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Google Sheet Personal Finance Manager
Replies: 20
Views: 6063

Google Sheet Personal Finance Manager

I created a personal finance workbook that I've decided to share with you. If you have Excel or Google Sheet experience, you can customize it to fit your personal specifications. All I ask is for you honest feedback and suggestions. https://docs.google.com/spreadsheets/d/13_d7rgvFdWT_3_7Yt_NYQxm_ZXH...
by jburke
Fri Jan 05, 2018 12:25 am
Forum: Personal Investments
Topic: Can/Should I retire now?
Replies: 57
Views: 8867

Re: Can I retire now?

More info on my 3 rental homes: 2 homes are on 1 lot. My mother lives in one of these homes. The other I rent out at market rent. I decided to hold onto this property for as long as my mom chooses to live there. My 3rd home is a renovation project. I am converting the 2-car garage into a studio. I'l...
by jburke
Thu Jan 04, 2018 11:10 pm
Forum: Personal Investments
Topic: Can/Should I retire now?
Replies: 57
Views: 8867

Re: Can I retire now?

I'm thinking I should work for another year or two and then re-evaluate. There seems to be quite a bit of doubt as to whether I could stretch my money out in the long run.
by jburke
Thu Jan 04, 2018 3:46 pm
Forum: Personal Investments
Topic: Can/Should I retire now?
Replies: 57
Views: 8867

Re: Can I retire now?

I'm at a 76/24 stock to bond ratio right now, not including my real estate investments.
by jburke
Thu Jan 04, 2018 2:58 pm
Forum: Personal Investments
Topic: Can/Should I retire now?
Replies: 57
Views: 8867

Re: Can I retire now?

My mother is 73 yo and has close to 2M in assets. I'm her only heir, so if anything, I'll have more to add to. I don't have any other family to consider.
by jburke
Thu Jan 04, 2018 1:38 pm
Forum: Personal Investments
Topic: Can/Should I retire now?
Replies: 57
Views: 8867

Re: Can I retire now?

Are you sure on your SS? I know you are retiring early, but I have worked only 16 years where I made decent money and calculated I would get around $2000 SS at age 67. Though I was paying in the max 20+ years ago so that helped I'm sure. Actually, I'll be receiving $2,000/mo in SS in today's dollar...
by jburke
Thu Jan 04, 2018 1:09 pm
Forum: Personal Investments
Topic: Can/Should I retire now?
Replies: 57
Views: 8867

Re: Can I retire now?

Just realized this doesn't quite add up. Do you mean your net worth is $3M (reflecting the $500K of debt on property valued at $450K + $500K = $950K)? Or is your net worth $2.5M adjusted for the $500K in loans? My real estate is valued at $950k - $500k loans = $450k equity $450k RE Equity, $2.55M i...
by jburke
Thu Jan 04, 2018 12:37 pm
Forum: Personal Investments
Topic: Can/Should I retire now?
Replies: 57
Views: 8867

Can/Should I retire now?

<<2020 UPDATE: Total Assets Worth $3.7M, everything else similar except I sold one of my properties. Would you retire now if you were in a similar situation?>> I’d like to retire but I’m wondering if I have enough to keep me financially secure for the rest of my life. My current job pays $100k per y...
by jburke
Thu Nov 17, 2016 12:14 pm
Forum: Personal Investments
Topic: 1031 exchange - need feedback quickly
Replies: 33
Views: 3805

Re: 1031 exchange - need feedback quickly

FoolStreet wrote:Why not interview several DST broker specialists?
We spoke to 6 DST brokers before selecting our favorite two to work with.
pshonore wrote:Quick question - Is depreciation on the new property based on 400K or 210k?
It would be on $210k I believe. Someone correct me if I'm wrong.
by jburke
Wed Nov 16, 2016 7:39 pm
Forum: Personal Investments
Topic: 1031 exchange - need feedback quickly
Replies: 33
Views: 3805

Re: 1031 exchange - need feedback quickly

it does simplify things in the sense that this medical office is a NNN lease with only one tenant, whereas her last property was a 3 unit residential that she was managing herself. If she decides not to buy it and purchase the DSTs instead, that would be more simple. When the DSTs expire, she'll onc...
by jburke
Wed Nov 16, 2016 7:16 pm
Forum: Personal Investments
Topic: 1031 exchange - need feedback quickly
Replies: 33
Views: 3805

Re: 1031 exchange - need feedback quickly

That's correct. She can defer capital gains taxes for the rest of her life using 1031 exchanges. After her death, all properties cost basis will be recalibrated to market value, thereby avoiding cap gains taxes completely for inheritors.
by jburke
Wed Nov 16, 2016 6:23 pm
Forum: Personal Investments
Topic: 1031 exchange - need feedback quickly
Replies: 33
Views: 3805

Re: 1031 exchange - need feedback quickly

My mom's escrow closed yesterday. She decided to pull out $300k from the 1031 exchange thanks to all of your advice, but she didn't feel right pulling out anymore than that. This puts her asset allocation to around 50% real estate, 50% stocks & bonds. She has 45 days from now to identify properties ...
by jburke
Mon Nov 07, 2016 4:25 pm
Forum: Personal Investments
Topic: 1031 exchange - need feedback quickly
Replies: 33
Views: 3805

Re: 1031 exchange - need feedback quickly

Thanks EHEngineer for the additional info. This particular DST has 5 properties packaged within it, all commercial. My mom was planning on putting around $200k in it. That 5% commission they listed is actually lost immediately - it's given to the brokers and sales reps that market the DST to potenti...
by jburke
Mon Nov 07, 2016 1:21 pm
Forum: Personal Investments
Topic: 1031 exchange - need feedback quickly
Replies: 33
Views: 3805

Re: 1031 exchange - need feedback quickly

What is her tax exposure if she does not do a 1031 and just pays the cap gains tax? Has she actually paid a CPA to figure out the taxes and other issues? The rates you quoted above sure seem high. Taxes: Fed 20% plus CA 12% plus 3.8% Obamacare tax minus very little cost basis due to a long holding ...
by jburke
Mon Nov 07, 2016 1:09 pm
Forum: Personal Investments
Topic: HELP w/ my mother’s finances
Replies: 29
Views: 3616

Re: HELP w/ my mother’s finances

Thanks for the advice. I posted two new forum posts below. I'm getting similar responses: https://www.bogleheads.org/forum/viewtopic.php?p=3108652#p3108652 https://www.biggerpockets.com/forums/104/topics/375664-1031-exchange---need-feedback-quickly I'm surprised how little input I'm receiving from t...
by jburke
Mon Nov 07, 2016 11:44 am
Forum: Personal Investments
Topic: 1031 exchange - need feedback quickly
Replies: 33
Views: 3805

Re: 1031 exchange - need feedback quickly

What is her tax exposure if she does not do a 1031 and just pays the cap gains tax? Has she actually paid a CPA to figure out the taxes and other issues? Her $1.1M is in a 1031 escrow account. She's spoken with her CPA - The money will be taxed between 28% and 34%, depending on how much she pulls o...
by jburke
Mon Nov 07, 2016 11:03 am
Forum: Personal Investments
Topic: 1031 exchange - need feedback quickly
Replies: 33
Views: 3805

1031 exchange - need feedback quickly

My 72 y.o. mother just sold her only property to simplify her life. She has $1.1M in a 1031 exchange and is planning on purchasing three to four Deleware Statutory Trusts (DSTs) that contain Class A, mostly large scale residential communities in growing, economically strong regions. The DSTs expect ...
by jburke
Mon Nov 07, 2016 10:29 am
Forum: Personal Investments
Topic: HELP w/ my mother’s finances
Replies: 29
Views: 3616

Re: HELP w/ my mother’s finances

If she cashes out $100k from her 1031 exchange, she'll be taxed 28% to 30%. More than that, she'll be taxed around 34% according to her tax adviser. She has around 1 week to decide what to do. Her original tax adviser told her about DSTs as an option. He is part of a financial planning firm who had ...
by jburke
Fri Nov 04, 2016 4:34 pm
Forum: Personal Investments
Topic: HELP w/ my mother’s finances
Replies: 29
Views: 3616

Re: HELP w/ my mother’s finances

She hasn't put any money into any DSTs yet. $1.1M is in a 1031 exchange right now and we are trying to figure out how much to use for DSTs and how much to withdraw with the tax hit. She has around 10 days to decide.
by jburke
Fri Nov 04, 2016 2:53 pm
Forum: Personal Investments
Topic: HELP w/ my mother’s finances
Replies: 29
Views: 3616

Re: HELP w/ my mother’s finances

We need some facts other than it's legal structure. How did your mom find out about it? Do you have a prospectus? We are interested in four DSTs. One of them is packaged by PASSCO - they've been creating TICs and DSTs since 1998. This DST is a 389 unit Class A apartment community built in 2015 on 2...
by jburke
Fri Nov 04, 2016 12:54 pm
Forum: Personal Investments
Topic: HELP w/ my mother’s finances
Replies: 29
Views: 3616

Re: HELP w/ my mother’s finances

she could still have exposure to r.e. (and earn a decent return) with some portion of her assets in a REIT (which is certainly more diversified than whatever she's in now.) If we end up taking the tax hit to get a portion of her cash out of the 1031, we will put that money into Vanguard Lifestrateg...
by jburke
Fri Nov 04, 2016 11:07 am
Forum: Personal Investments
Topic: HELP w/ my mother’s finances
Replies: 29
Views: 3616

Re: HELP w/ my mother’s finances

That said, I think a) the portfolio need more diversification/less r.e. and b)I don't see a need for an annuity that starts when she's 82 years old. What's her health like? Is her $75k a year in living expenses likely to increase? Decrease? She's in superb health, both mentally and physically. She'...
by jburke
Fri Nov 04, 2016 10:14 am
Forum: Personal Investments
Topic: HELP w/ my mother’s finances
Replies: 29
Views: 3616

Re: HELP w/ my mother’s finances

"boot" is money in a 1031 account that must be used to buy a like kind property, otherwise it (minus cost basis) will be taxed. The taxes will be high because the property she sold has a very low cost basis due to depreciation. I'm not sure what the exact tax implication will be, but it probably som...
by jburke
Fri Nov 04, 2016 9:40 am
Forum: Personal Investments
Topic: HELP w/ my mother’s finances
Replies: 29
Views: 3616

Re: HELP w/ my mother’s finances

A DST is very similar to a Tenancy in Common. We researched DSTs and they seem like legitimate investments. More so than buying our own property in CA, where cap rates are running very low. She's currently in a 1031 exchange and she can pull money "boot" out, but we worry that the tax hit will be to...
by jburke
Thu Nov 03, 2016 4:27 pm
Forum: Personal Investments
Topic: HELP w/ my mother’s finances
Replies: 29
Views: 3616

Re: HELP w/ my mother’s finances

She's in the process of buying DSTs. Should she hold some of the 1031 money as "boot" and withdraw it minus the taxes incurred? If so, how much out of the $1.1 million?
by jburke
Thu Nov 03, 2016 2:47 pm
Forum: Personal Investments
Topic: HELP w/ my mother’s finances
Replies: 29
Views: 3616

Re: HELP w/ my mother’s finances

Should I consider getting her a COLA annuity that would adjust for inflation? If I bought one now that starts in 10 years, do the inflation adjustments start now or do they start after the first payment 10 years from now? I like the idea of a very simple portfolio but I want it to be tax efficient a...
by jburke
Thu Nov 03, 2016 2:34 pm
Forum: Personal Investments
Topic: HELP w/ my mother’s finances
Replies: 29
Views: 3616

Re: HELP w/ my mother’s finances

My mom wants gold because a friend of hers believes it is a great diversify-er and highly recommended it. She wants at least 10% in gold but I'm trying to convince her otherwise.
by jburke
Thu Nov 03, 2016 2:32 pm
Forum: Personal Investments
Topic: HELP w/ my mother’s finances
Replies: 29
Views: 3616

Re: HELP w/ my mother’s finances

DST - Delaware Statutory Trust. It's a way to do a 1031 exchange into multiple properties that are combined into a single investment that has up to 300 investors. The IRS allowed it as a 1031 pretty recently. She is purchasing up to four DSTs and will have to either cash out or do a 1031 into someth...
by jburke
Thu Nov 03, 2016 12:49 pm
Forum: Personal Investments
Topic: HELP w/ my mother’s finances
Replies: 29
Views: 3616

HELP w/ my mother’s finances

My mother is at the stage where she needs more assistance with her financial life. She is transferring her taxable and tax sheltered accounts over to Vanguard. Here is her situation. Age: 72 Emergency Funds: 1 mo of expenses Debt: None Tax Filing Status: Single Tax Rate: 25% Federal 9% CA Accounts: ...
by jburke
Tue Aug 30, 2016 10:09 am
Forum: Personal Investments
Topic: Delaware Statutory Trust
Replies: 0
Views: 797

Delaware Statutory Trust

Anyone have experience with Delaware Statutory Trusts (DSTs)? My mom is selling a large property and wants to do a 1031 into something that is more passive in nature. Are there any companies she should gravitate towards or avoid? Any pitfalls to consider? If she invests in DSTs, does this prevent he...
by jburke
Mon Jan 18, 2016 8:27 pm
Forum: Personal Consumer Issues
Topic: Best place to live in CA for a young family
Replies: 82
Views: 10626

Re: Best place to live in CA for a young family

gkaplan wrote:San Luis Obispo
The 'happiest' city in America.
by jburke
Thu Jun 18, 2015 9:10 am
Forum: Investing - Theory, News & General
Topic: Betterment Review
Replies: 113
Views: 41142

Re: Betterment Review

Suppose I wrote software that did the Betterment thing, but only through one's existing accounts. That is, the app went out with your login credentials and gathered your portfolio info (shares, transactions, etc) and then told you what to change and when to change. It would know about tax-loss harv...
by jburke
Thu Apr 16, 2015 10:10 pm
Forum: Investing - Theory, News & General
Topic: Real Estate Crowdfunding
Replies: 23
Views: 4562

Re: Real Estate Crowdfunding

Most of these crowdfunding websites charge an anual fee between 1 and 2%. There are some websites that don't charge the investor anything. Instead, they charge a fee to the sponsors.
by jburke
Wed Apr 15, 2015 3:57 pm
Forum: Investing - Theory, News & General
Topic: Real Estate Crowdfunding
Replies: 23
Views: 4562

Real Estate Crowdfunding

Has anyone tried this? It seems like this might be a nice way to get into Real Estate Syndications without already having connections to sponsors.

I've been exploring Realty Mogul, Fundrise, and RealtyShares. Just wondering if anyone has had personal experience with these crowdfunding sites.
by jburke
Wed Apr 15, 2015 11:45 am
Forum: Investing - Theory, News & General
Topic: REIT Hidden Operating Costs
Replies: 8
Views: 1447

REIT Hidden Operating Costs

Does the Expense Ratio of an REIT fund represent the costs to manage the underlying funds and assets only? What percent of the value of underlying assets is being spent on such things as Property Management, Acquisition Fees, Selling Fees, Attorneys, Loan Financing? Are there any general statistics ...
by jburke
Fri Feb 13, 2015 4:10 pm
Forum: Personal Investments
Topic: Roth and HSA for high risk investments?
Replies: 1
Views: 334

Roth and HSA for high risk investments?

My tax advantaged accounts hold US Bond funds that make up around 25% of my total assets. My taxable accounts, which hold more risky investments, are growing at a much faster rate. I wonder if should use my Roth and HSA to hold Small Value Cap instead of bonds so that in the long term, my tax protec...
by jburke
Tue Jan 06, 2015 10:43 am
Forum: Personal Consumer Issues
Topic: Any men here get their wedding band on Amazon?
Replies: 66
Views: 9650

Re: Any men here get their wedding band on Amazon?

I just purchased this titanium wedding ring for $10 and love it: http://www.amazon.com/gp/product/B0034ELTE0/ref=oh_aui_detailpage_o01_s00?tag=bogleheads.org-2-&ie=UTF8&psc=1 I now have 4 different rings (all under $20) of different shapes and materials. I'm all for diversifying wedding ring portfol...
by jburke
Mon Jan 05, 2015 11:18 am
Forum: Personal Investments
Topic: large inheritance - Advice needed on Asset Allocation
Replies: 23
Views: 6524

Re: large inheritance - Advice needed on Asset Allocation

7 YR UPDATE: Since 2008 I have been a loyal Boglehead who visits this forum frequently. Thanks so much for all the financial wisdom provided here throughout the years. I am 41 and still at the same job with 1.5 years to go. At that point, I plan to move with my wife (married for over 1 year) to anot...
by jburke
Fri Jan 02, 2015 2:50 pm
Forum: Personal Investments
Topic: Should my 71 yo mom pay off her mortgage?
Replies: 16
Views: 2931

Re: Should my 71 yo mom pay off her mortgage?

Celia, Thanks for the suggestion. Proposition 60 and 90 allows the transfer within 10 counties, so we probably will not be able to take advantage of this. Also, only one unit is her primary residence, so she can only transfer over that portion. We'll definitely take advantage of Props 60 and 90 if w...