Search found 1395 matches

by investingdad
Sun Dec 24, 2017 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: FY17 Final, Personal Savings Rate
Replies: 26
Views: 2786

Re: FY17 Final, Personal Savings Rate

So I had to think about this for a moment... I looked at it this way. If I made 100k gross and saved 27k total, that is 27% of my gross. If 18k went to 401k, it means I saved 9k of what I brought home after tax. If I paid 20% tax after 401k was taken out, it means I brought home 65.6k. Saving 9k (wh...
by investingdad
Sun Dec 24, 2017 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: FY17 Final, Personal Savings Rate
Replies: 26
Views: 2786

FY17 Final, Personal Savings Rate

I think I get paid next week, and there may be a bill or two yet this year, but I think our savings rate for the year is final. [Edit - I used the MMM formula below, my brain was not fully engaged, let's blame the Christmas Eve eggnog] 33% This is about the same as last year. Income was higher but o...
by investingdad
Sun Dec 24, 2017 8:02 am
Forum: Investing - Theory, News & General
Topic: 2nd million is easier!
Replies: 123
Views: 26107

Re: 2nd million is easier!

I missed the conversation above when I first replied.

My view is pretty simple, my wife and I are very fortunate to be where we are financially and I have no complaints. I'm not bothered nor distressed by the handful of folks doing much better than us when we're already doing as well as we are.
by investingdad
Sat Dec 23, 2017 12:15 pm
Forum: Investing - Theory, News & General
Topic: 2nd million is easier!
Replies: 123
Views: 26107

Re: 2nd million is easier!

Yes, it's easier.

First million at 39, second by 43. This year, 44, we added 550k.

I don't think this rate is sustainable.
by investingdad
Mon Dec 18, 2017 3:42 pm
Forum: Personal Consumer Issues
Topic: Spending on myself, am I off base here?
Replies: 104
Views: 6606

Re: Spending on myself, am I off base here?

What happens to the rumor that all BHs are frugal? Why do you need to buy a second one? I’m with your wife here. Well, are BHs frugal to ensure financial independence? Or frugal for the sake of frugal? If I'm forecasting FI in about nine years by early 50s based on continuing what we're doing, and ...
by investingdad
Mon Dec 18, 2017 2:33 pm
Forum: Personal Consumer Issues
Topic: Spending on myself, am I off base here?
Replies: 104
Views: 6606

Re: Spending on myself, am I off base here?

Oh no worries, we match well but there are some fundamental differences between us personality wise.
by investingdad
Mon Dec 18, 2017 1:57 pm
Forum: Personal Consumer Issues
Topic: Spending on myself, am I off base here?
Replies: 104
Views: 6606

Re: Spending on myself, am I off base here?

The fact that your wife gave you grief for a year after agreeing to the first purchase suggests y’all have some deeper issues. Explore them. They are the cause. As far as treating the present symptom is concerned, there are a few options. Separate “fun” accounts might work. Selling the other machin...
by investingdad
Mon Dec 18, 2017 11:39 am
Forum: Personal Consumer Issues
Topic: Spending on myself, am I off base here?
Replies: 104
Views: 6606

Re: Spending on myself, am I off base here?

MikeWillRetire wrote:
Mon Dec 18, 2017 11:32 am
Your investments probably earned more than $5k just this morning.
I just checked the market, and yes... that's true. Until they go down tomorrow. :happy
by investingdad
Mon Dec 18, 2017 11:17 am
Forum: Personal Consumer Issues
Topic: Spending on myself, am I off base here?
Replies: 104
Views: 6606

Re: Spending on myself, am I off base here?

I'm not going to judge whether or not a second $5000 pinball machine is a wise choice, but you admittedly make $260,000 a year and spend 78% of that on taxes/life. That suggests to me you have about a $11,000-$12,000/mo lifestyle depending on your tax situation. That's a lot of lifestyle and she ma...
by investingdad
Mon Dec 18, 2017 11:07 am
Forum: Personal Consumer Issues
Topic: Spending on myself, am I off base here?
Replies: 104
Views: 6606

Re: Spending on myself, am I off base here?

OP, you counted approximately $3000 per year that you spend on yourself through beer, music lessons, and other cash. Add to that the $5000 every two years and it looks like your personal "selfish" spending is a bit above $5000 per year or over 2% of your gross. Is that reasonable? That's something ...
by investingdad
Mon Dec 18, 2017 10:52 am
Forum: Personal Consumer Issues
Topic: Spending on myself, am I off base here?
Replies: 104
Views: 6606

Re: Spending on myself, am I off base here?

Do you let your kids play with the pinball machines? If so then it really is a family gift. Does your wife play on the machine? Have you taught your kids and wife to play and score high on your current machine? Is the current machine set out in your family room so it can be played and it is visible...
by investingdad
Mon Dec 18, 2017 10:37 am
Forum: Personal Consumer Issues
Topic: Spending on myself, am I off base here?
Replies: 104
Views: 6606

Re: Spending on myself, am I off base here?

sailaway wrote:
Mon Dec 18, 2017 10:36 am
greg24 wrote:
Mon Dec 18, 2017 10:33 am
It is hard to judge from the outside. But, if you would get a great deal of joy out of it, $5k for years of enjoyment would be worth it. And it would have resale value.
We are talking about $10k: he wants another.
Correct, the first was bought 2 years ago.
by investingdad
Mon Dec 18, 2017 10:28 am
Forum: Personal Consumer Issues
Topic: Spending on myself, am I off base here?
Replies: 104
Views: 6606

Spending on myself, am I off base here?

I'm trying to figure out if I'm being unreasonable regarding a discretionary purchase as it has led to a disagreement with my wife. Some background. Our gross income is about 240k base, bonus adds maybe 20k more, it varies. Income split is about 55/45 in her favor. This year, we saved 22% of gross. ...
by investingdad
Wed Dec 13, 2017 6:45 am
Forum: Personal Consumer Issues
Topic: Android keyboards
Replies: 5
Views: 579

Re: Android keyboards

any concerns about the Swype fine print that says you understand and consent to the fact they collect and record anything you type?
by investingdad
Sat Dec 09, 2017 10:39 am
Forum: Personal Consumer Issues
Topic: Save all this money, what do you splurge on?
Replies: 193
Views: 19667

Re: Save all this money, what do you splurge on?

We did a major upgraded cruise last month, 12k for us and our two kids. Our game room has my pinball machine and billiards table. Ongoing spending is private music lessons, $75 a week for me and the kids. I'll eventually buy myself a much pricier violin than what I have. Though I think the music les...
by investingdad
Sat Dec 02, 2017 1:01 pm
Forum: Investing - Theory, News & General
Topic: BH philosophy on restricted stock units and employee stock purchase program?
Replies: 27
Views: 1872

Re: BH philosophy on restricted stock units and employee stock purchase program?

We don't actively buy shares in her company, this is all zero cost stock awards on top of salary and bonus.

Not comparable.
by investingdad
Sat Dec 02, 2017 8:39 am
Forum: Investing - Theory, News & General
Topic: BH philosophy on restricted stock units and employee stock purchase program?
Replies: 27
Views: 1872

Re: BH philosophy on restricted stock units and employee stock purchase program?

My wife is not quite an insider at her employer, a public company. She's been getting RSUs for the decade she's been there. Selling them would have been a colossal mistake and she's told me to leave them based on what she knows. I'm even kicking myself for liquidating shares to pay the taxes. They'v...
by investingdad
Fri Dec 01, 2017 7:44 am
Forum: Personal Consumer Issues
Topic: How Do You Stay Current With Music?
Replies: 111
Views: 6575

Re: How Do You Stay Current With Popular Music?

The music that resonates with me is what I listened to from about grade 7 to final year of college...80s hair bands culminating with Grunge. Most of that stuff is also "pretty bad" the same way current pop music is "petty bad". But I seek it out because that's what I grew up with. No different than ...
by investingdad
Wed Nov 29, 2017 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: So i hit 6 figures... (questions about financials)
Replies: 19
Views: 4120

Re: So i hit 6 figures... (questions about financials)

I can't tell you whether to get your own place is worth the cost, but I never lived with roommates after college. But I can tell you that saving as much as you are at this age is totally worth it. I started at 22 also, 22 years ago. So did my wife. 100k is outstanding at 27. If you can keep it up, t...
by investingdad
Wed Nov 29, 2017 11:21 am
Forum: Personal Finance (Not Investing)
Topic: When to tell the SO about my financial situation?
Replies: 109
Views: 6915

Re: When to tell the SO about my financial situation?

My wife and I had the financial sharing chat gradually, as we moved to the point where we knew we were going to get engaged. Probably at the one year mark of dating. But we met while doing our MBAs, so being on the same page was pretty easy. She made more than me then, and still does fifteen years l...
by investingdad
Mon Nov 27, 2017 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Expecting high income in 2018 ($1m+) looking for advice
Replies: 16
Views: 3609

Re: Expecting high income in 2018 ($1m+) looking for advice

No advice, but congrats on the great income. Sounds like a great opportunity to set yourself up for the future if planned correctly.
by investingdad
Sun Nov 26, 2017 7:31 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 3290
Views: 995420

Re: What Book Are You Currently Reading? Part VI

I've had a lot of luck getting current popular novels as ebooks via my library. I started and did not finish Nelson DeMille's The Cuban Affair. A change from his long time NYC protagonist to a Maine born, Florida boat captain by way of the US Army in Afghanistan. As the title implies the story is s...
by investingdad
Sun Nov 26, 2017 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: The fallacy of spending money on "experiences" vs hard assets
Replies: 336
Views: 21870

Re: The fallacy of spending money on "experiences" vs hard assets

We're in the middle of returning from a very pricey, upgraded family vacation... like 3x the cost of a normal family vacation for us. It's been great and the added comforts and upgraded experience have been very nice. I know my wife and kids have enjoyed themselves, I have too. But to be honest, aft...
by investingdad
Thu Nov 23, 2017 4:07 pm
Forum: Personal Consumer Issues
Topic: Anybody paint?
Replies: 5
Views: 867

Anybody paint?

Any artistic painters here? I don't, but we're on a cruise and I did a painting class that I enjoyed. It was acrylics, and guided to get a painting similar to the sample. Mine came out pretty nice and both my kids were surprised at the result. I don't know that I enjoyed it enough to take up paintin...
by investingdad
Tue Nov 21, 2017 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey says don't use credit cards, even if you pay them off
Replies: 221
Views: 19153

Re: Dave Ramsey says don't use credit cards, even if you pay them off

This is from a segment 1 year ago https://www.youtube.com/watch?v=np5i5oWfqAo Do you all agree with Dave on this? He says that it's stupid to use credit cards even in situations where you use credit cards for rewards points (credit card hacking) and pay them off each month without paying any intere...
by investingdad
Sun Nov 19, 2017 2:39 pm
Forum: Personal Consumer Issues
Topic: How much do you budget for vacation?
Replies: 94
Views: 7458

Re: How much do you budget for vacation?

Interesting answers, but I find it interesting that people are saying how much they "spend" on travel, rather than what they "budget" for travel, which was the question. Judging by the amounts of money quoted in this thread, I suspect that most of the people answering this particular question are a...
by investingdad
Sun Nov 19, 2017 1:02 pm
Forum: Personal Consumer Issues
Topic: How much do you budget for vacation?
Replies: 94
Views: 7458

Re: How much do you budget for vacation?

We are mid 40s, two kids (10 and 12), with a combined income upper 200s.

We are in the process of a big splurge on a family vacation, probably 15k, right now. So 22k this year. Normally about 11k a year.

Maybe 1/2 a percent of net worth.
by investingdad
Sun Nov 19, 2017 9:28 am
Forum: Personal Consumer Issues
Topic: Should I drink or sell my Pappy 12 year?
Replies: 74
Views: 11632

Re: Should I drink or sell my Pappy 12 year?

I couldn't drink this stuff because I'm not a fan (craft beer for me).

But if you don't need the money, why sell? Seems like this is something you keep and learn to appreciate over time.
by investingdad
Mon Nov 13, 2017 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Losing all of your savings.
Replies: 41
Views: 6610

Re: Losing all of your savings.

So is the OP a pro poker player? I'm confused.
by investingdad
Mon Nov 13, 2017 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Losing all of your savings.
Replies: 41
Views: 6610

Re: Losing all of your savings.

why did you edit/delete all your old posts? The only thing listed under all your old posts is "lasdasd". https://s17.postimg.org/mlfkwxiof/Capture.jpg before you have a chance to delete this post and no one can read it again, here's what the OP's original question was: i've lost all of my savings b...
by investingdad
Mon Nov 13, 2017 9:46 am
Forum: Personal Consumer Issues
Topic: Did you want to set up a payment plan for that?
Replies: 19
Views: 2817

Did you want to set up a payment plan for that?

I had to replace my cell phone over the weekend. Didn't want to, but the operating system is no longer compliant with our IT security policy at work. They should pay for that, but that's another topic... Anyway, I got another Android that I liked. As the guy starts the checkout process, the first qu...
by investingdad
Sun Nov 12, 2017 10:33 am
Forum: Personal Consumer Issues
Topic: Cruise to Nassau, Bahamas - Atlantis Discovery Tour?
Replies: 11
Views: 988

Re: Cruise to Nassau, Bahamas - Atlantis Discovery Tour?

I don't think there's a charge to walk around the property, is there? I recall the last time we went there by cruise ship, we did the water park access which was pricey but worth it. We realized that the person taking to the water park area was taking us all around the property before taking us to t...
by investingdad
Wed Nov 08, 2017 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Did we make it to "The 2 Comma Club"? Maybe not?
Replies: 21
Views: 3989

Re: Did we make it to "The 2 Comma Club"? Maybe not?

I don't fully understand the coins.

Are those a portfolio asset or a collectible?

Does that mean I include jewelry or musical instruments in net worth? I only include what's in my portfolio and I subtract all debt notes.
by investingdad
Mon Nov 06, 2017 10:34 am
Forum: Investing - Theory, News & General
Topic: Dividends make up for high mutual fund fees
Replies: 31
Views: 2553

Re: Dividends make up for high mutual fund fees

Unfortunately his advisor put him into funds a long time ago with high fees, not just this one fund company. But because the dividend income looks good, I think he's not sensitive to the onerous cost. He just sees the dividend checks and isn't looking much beyond that. I did say fees heave a real im...
by investingdad
Mon Nov 06, 2017 8:32 am
Forum: Investing - Theory, News & General
Topic: Dividends make up for high mutual fund fees
Replies: 31
Views: 2553

Dividends make up for high mutual fund fees

We were visiting family last week and the topic of investing came up, never something I want to discuss with family. In any case, one family member was touting a certain fund company. I'm familiar with them but don't own them. Their management fees are significant, 1.5% is common and their returns a...
by investingdad
Sat Nov 04, 2017 8:05 am
Forum: Personal Finance (Not Investing)
Topic: This is why I'm glad I started investing at 23
Replies: 27
Views: 5502

Re: This is why I'm glad I started investing at 23

Let me be clear. I care about my work. My success becomes the company success. And I endeavor to do it well. That why I'm still employed after rounds of reductions over the years. What I don't care about is the sleazy maneuver of a new VP that sliced bonuses in half this year. I don't care about the...
by investingdad
Fri Nov 03, 2017 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: This is why I'm glad I started investing at 23
Replies: 27
Views: 5502

This is why I'm glad I started investing at 23

The biggest positive that came from investing heavily for retirement very early on was that now, at 44...I don't stress about the corporate BS, power struggles, and fighting to climb the ladder for that ever bigger bonus. I. Just. Don't. Care. And the best part is, I can afford not to. Don't get me ...
by investingdad
Fri Nov 03, 2017 10:27 am
Forum: Personal Consumer Issues
Topic: Learning Violin as an adult...1.5 years later
Replies: 197
Views: 28458

Re: Learning an instrument as an adult?

So I started this topic 11 months ago when I first asked for thoughts on taking up the violin as a total newbie to playing music. I posted updates along the way as I started this endeavor. What a lot of fun this has been! Having a great teacher makes a big difference. Practicing every day also makes...
by investingdad
Mon Oct 30, 2017 10:35 am
Forum: Personal Finance (Not Investing)
Topic: we bought a house - are we housepoor now?
Replies: 195
Views: 12477

Re: we bought a house - are we housepoor now?

Careful what you wish for. Recessions can have far reaching, unexpected, consequences. Stock prices can become the least of one's worries. Capitalizing on a Recession in a meaningful way via the stock market also requires a sizeable amount of liquid cash or cash equivalents on hand. Did you read my...
by investingdad
Mon Oct 30, 2017 10:24 am
Forum: Personal Finance (Not Investing)
Topic: we bought a house - are we housepoor now?
Replies: 195
Views: 12477

Re: we bought a house - are we housepoor now?

Careful what you wish for. Recessions can have far reaching, unexpected, consequences. Stock prices can become the least of one's worries. Capitalizing on a Recession in a meaningful way via the stock market also requires a sizeable amount of liquid cash or cash equivalents on hand. Did you read my...
by investingdad
Mon Oct 30, 2017 10:01 am
Forum: Personal Finance (Not Investing)
Topic: we bought a house - are we housepoor now?
Replies: 195
Views: 12477

Re: we bought a house - are we housepoor now?

Careful what you wish for. Recessions can have far reaching, unexpected, consequences.

Stock prices can become the least of one's worries.

Capitalizing on a Recession in a meaningful way via the stock market also requires a sizeable amount of liquid cash or cash equivalents on hand.
by investingdad
Mon Oct 30, 2017 8:28 am
Forum: Personal Finance (Not Investing)
Topic: we bought a house - are we housepoor now?
Replies: 195
Views: 12477

Re: we bought a house - are we housepoor now?

At the end of the day, high incomes in a HCOL area are deceptive. You're earning power isn't as strong as you want to think. A HHI of 260k with a mortgage of 630k gives a simple ratio of 0.416. That would stress me out. I don't know if the OP is genuinely concerned, or if there was an element of sat...
by investingdad
Mon Oct 30, 2017 5:56 am
Forum: Personal Finance (Not Investing)
Topic: we bought a house - are we housepoor now?
Replies: 195
Views: 12477

Re: we bought a house - are we housepoor now?

OP...sorry, I'd feelhouse poor in this situation.

My wife and I earn a bit more than you and our home cost about 360k, mortgaged 240k.

I'd choke at 500k, let alone 900k.
by investingdad
Mon Oct 23, 2017 8:59 am
Forum: Personal Finance (Not Investing)
Topic: Does anyone here with net worths north of $1 mil use financial advisors?
Replies: 249
Views: 36432

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

Nope.

Which is surprising because I keep reading those, "Secrets millionaire investors won't Tell You" articles and I've concluded that I'm not doing this the right way cause I don't have an army of advisors.

Oh well.
by investingdad
Fri Oct 13, 2017 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Does IRS have equivalent of credit freeze?
Replies: 20
Views: 1972

Re: Does IRS have equivalent of credit freeze?

Curious how tax-filing fraud is ever possible? The impostor not only needs your identify info, but also W-2, dividend, capital gain/loss, mortgage payment, etc., etc? Why would they need all that other information? They're not trying to file an accurate return, they're trying to file a return that ...
by investingdad
Mon Oct 02, 2017 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Is customer service my only talent?
Replies: 7
Views: 1479

Re: Is customer service my only talent?

Teacher, actor, truck driver, programming, sales...it's hard to succeed long term if you cannot remain focused.
by investingdad
Thu Sep 28, 2017 12:11 pm
Forum: Personal Consumer Issues
Topic: Meaningful wedding gift?
Replies: 20
Views: 1946

Re: Meaningful wedding gift?

My Best Man gave me a gold plated (not as expensive as it sounds) divot tool with ball marker that had the seal of our University alma mater engraved on it.

We both golf and he's the one that introduced me to the game.
by investingdad
Wed Sep 20, 2017 5:40 am
Forum: Personal Finance (Not Investing)
Topic: Let's talk about your FI # and family income [Financial Independence]
Replies: 183
Views: 22982

Re: Let's talk about your FI # and family income [Financial Independence]

I am impressed by the house incomes ($200K ~ $400K) posted here. Where are the average Joes? There are only two of us on the whole forum. Everyone else makes bank. It's worth noting I made 33k in 1996 coming out of college, that's about the median in today's dollars. Same for my wife. We've managed...
by investingdad
Tue Sep 19, 2017 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Let's talk about your FI # and family income [Financial Independence]
Replies: 183
Views: 22982

Re: Let's talk about your FI # and family income [Financial Independence]

Age, 44/44
Age to retire, aiming for 53 to 55 or so
HHI, between 240k and 280k
Expenses, about 115k last year (balance was invested and paid taxes)
Desired portfolio, between 4.5 and 5 million

I'd like to pull about 3.25% as a withdrawal rate.

About half way there.
by investingdad
Mon Sep 18, 2017 6:36 pm
Forum: Personal Consumer Issues
Topic: Is it really Worth it to brown bag your lunch at work?
Replies: 313
Views: 23148

Re: Is it really Worth it to brown bag your lunch at work?

Brown bagging early in career is a 'Career Limiting Move'. Brown bagging late in career is probably worse until you are on the early retirement list. Completely and utterly incorrect. Advancing your Career requires schmoozing, not easily done when you pull out a brown bag. A brown bag conveys 'dome...