Search found 488 matches

by Sam1
Mon Apr 22, 2019 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: At a crossroads on how much to put down towards new home
Replies: 32
Views: 2520

Re: At a crossroads on how much to put down towards new home

I’d move...to another state. I wouldn’t want to live in a location with declining property values due to state finances and criminal activity. You may be able to avoid direct impact now but eventually you’ll experience some sort of effect. However, I understand you may need to be in Chicago because ...
by Sam1
Sun Apr 21, 2019 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house without a realtor
Replies: 49
Views: 5155

Re: Buying a house without a realtor

Just keep in mind that when you buy a house, you are probably engaging in the biggest financial transaction of your life, and you will be signing some of the most complicated and obtuse legal documents known to man, which will commit you for the next 15 to 30 years. Unless you have your own agent o...
by Sam1
Sat Apr 20, 2019 11:47 am
Forum: Personal Finance (Not Investing)
Topic: Home Purchase Feasibility
Replies: 22
Views: 1417

Re: Home Purchase Feasibility

Sorry to pile on but this is insane. You make 5700x12 = 68k per year and you are trying to buy a house 7x your income??????? You wont just be house poor, you will be at risk of loosing the house if ANYTHING at all goes wrong.. even a minor repair. And thats assuming any bank would approve a loan li...
by Sam1
Sat Apr 20, 2019 11:37 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford a $1mil home?
Replies: 64
Views: 8772

Re: Can we afford a $1mil home?

Every Bay Area housing thread leaves me staring at the post hoping there was a typo or something. Unless you absolutely have to live there, I don’t get it. You can move to the Midwest, live a much better quality of life on half the income and have plenty left over for multiple luxury trips back, sh...
by Sam1
Thu Apr 18, 2019 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Weigh in on our Marital Argument =)-- HCOL edition
Replies: 110
Views: 14141

Re: Weigh in on our Marital Argument =)-- HCOL edition

Thanks for the update. You’ve inspired me to stay in our starter home longer. I know it’s the smart move financially.
by Sam1
Thu Apr 18, 2019 5:56 am
Forum: Personal Finance (Not Investing)
Topic: Young Couple Seeking Financial Advice From Bogleheads
Replies: 27
Views: 2929

Re: Young Couple Seeking Financial Advice From Bogleheads

I live in a HCOL area. Here’s some important advice - don’t have kids until you’ve saved up a downpayment or you’ve decided you never want to buy a home. Once you have daycare costs, it’s VERY hard to save for a house. Daycare costs where I live are approx $2,500 for an infant. A nanny is around $4k...
by Sam1
Tue Apr 16, 2019 7:01 pm
Forum: Personal Consumer Issues
Topic: seriously thinking about leaving S. CA but where to?
Replies: 177
Views: 11969

Re: seriously thinking about leaving S. CA but where to?

Atlanta has a miserable climate. HOT 9 months out of the year and cold with rain for the other 3. The weather isn’t conducive to sports, living a walkable lifestyle or not using AC all the time. This is pretty much the exact opposite of reality (unless you consider 70 degrees hot and 50 degree cold...
by Sam1
Tue Apr 16, 2019 6:59 pm
Forum: Personal Consumer Issues
Topic: seriously thinking about leaving S. CA but where to?
Replies: 177
Views: 11969

Re: seriously thinking about leaving S. CA but where to?

Atlanta has a miserable climate. HOT 9 months out of the year and cold with rain for the other 3. The weather isn’t conducive to sports, living a walkable lifestyle or not using AC all the time. This is pretty much the exact opposite of reality (unless you consider 70 degrees hot and 50 degree cold...
by Sam1
Tue Apr 16, 2019 1:52 pm
Forum: Personal Consumer Issues
Topic: seriously thinking about leaving S. CA but where to?
Replies: 177
Views: 11969

Re: seriously thinking about leaving S. CA but where to?

Atlanta has a miserable climate. HOT 9 months out of the year and cold with rain for the other 3. The weather isn’t conducive to sports, living a walkable lifestyle or not using AC all the time. This is pretty much the exact opposite of reality (unless you consider 70 degrees hot and 50 degree cold...
by Sam1
Tue Apr 16, 2019 5:15 am
Forum: Personal Consumer Issues
Topic: Soon to be dad, how to prepare
Replies: 127
Views: 7873

Re: Soon to be dad, how to prepare

Read books about baby/toddler sleep. It’s true some kids are better sleepers than others. But Every single friend I have with a child who doesn’t sleep well is doing things to encourage the not sleeping. They don’t seem to realize this and you can’t point out these things. But it’s super obvious to ...
by Sam1
Mon Apr 15, 2019 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford this house ?
Replies: 20
Views: 2164

Re: Can we afford this house ?

No. Your house would be roughly 5x your TSP

Keep saving
by Sam1
Mon Apr 15, 2019 5:56 pm
Forum: Personal Consumer Issues
Topic: Walking shoes
Replies: 33
Views: 2632

Re: Walking shoes

Really happy with me Eccos. Have held up well and incredibly comfortable. European friend introduced me to them. Worth the $ since they last season after season. I walk on average 5 miles a day running errands and to/from work
by Sam1
Mon Apr 15, 2019 4:41 pm
Forum: Personal Consumer Issues
Topic: seriously thinking about leaving S. CA but where to?
Replies: 177
Views: 11969

Re: seriously thinking about leaving S. CA but where to?

Any suggestions based on the criteria Criteria: 1/ Mild climate similar to Orange County, CA. Okay with some snow in the winter but not fond of huge amount of rain. - Partial Check 2/ No hurricane , flood , tornado and blizzard - Check 3/ Not Hawaii - Check 4/ Low crime - Check Not a must but would...
by Sam1
Sun Apr 14, 2019 7:19 am
Forum: Personal Finance (Not Investing)
Topic: Home affordability - Can I afford it?
Replies: 22
Views: 2668

Re: Home affordability - Can I afford it?

Your age is key info that's missing. Paying nearly 4x gross with mortgage nearly 3x gross is unwise in my opinion. Why is that people make plans based on a perpetual happy path? What happens if bad luck strikes your family - health, layoff, children develop issues that require a stay-home parent, e...
by Sam1
Sat Apr 13, 2019 7:36 pm
Forum: Personal Consumer Issues
Topic: Soon to be dad, how to prepare
Replies: 127
Views: 7873

Re: Soon to be dad, how to prepare

try and avoid saying things like “we are breastfeeding.” “When we were at the upsides having baby Suzy”. “Labor was really hard for us”. only the mom can breastfeed and give birth. Don’t try and steal credit from her. I was so angry postpartum hearing my husband telling everyone how hard labor was f...
by Sam1
Thu Apr 11, 2019 5:12 am
Forum: Personal Finance (Not Investing)
Topic: Should you use a real estate agent when buying a house? What are your experiences?
Replies: 72
Views: 4545

Re: Should you use a real estate agent when buying a house? What are your experiences?

Use an agent but be very careful what you tell them! They don’t work for you. They work for the deal. You have no control over what they tell the sellers agent. Try and not listen to them at all. Here’s a good story as to why We found a house on our own and contacted the listing agent directly. Offe...
by Sam1
Wed Apr 10, 2019 4:50 am
Forum: Personal Finance (Not Investing)
Topic: Not much work at new megacorp job
Replies: 70
Views: 6515

Re: Not much work at new megacorp job

I’d make sure to ask to help with things “how can I help?” “ I received this email regarding X. What can I do to help?” I’d make sure this communication is via email and would save them. If anyone ever criticizes you during a performance review for not doing anything, I’d tell them about how you’ve ...
by Sam1
Wed Apr 10, 2019 4:34 am
Forum: Personal Consumer Issues
Topic: Grand Canyon and Sedona
Replies: 51
Views: 5326

Re: Grand Canyon and Sedona

Don’t spend much time in Vegas.

Instead check out Page, Arizona and Antelope Camyon. There are a bunch of sites around Page to see , including with kids

We drove from Phoenix to salt Lake (but could have instead gone to Los Vegas).
by Sam1
Tue Apr 09, 2019 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Would you do this renovation?
Replies: 23
Views: 1524

Re: Would you do this renovation?

I wouldn’t do any of these renovations. They will have very little monetary return. You already have a bathroom for the kids. Same with the washer/dryer. Maybe replace the AC. Who cares if it’s on the roof? Ours is and we recently replaced without it being an issue. Have a contractor or architect wa...
by Sam1
Sat Apr 06, 2019 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Married couples: can you have a team mentality with separate finances?
Replies: 183
Views: 9848

Re: Married couples: can you have a team mentality with separate finances?

If my husband pulled this I’d make sure and live my life like a male bachelor. I wouldn’t have kids but if I did I wouldn’t take a day of unpaid leave I wouldn’t do any unpaid labor at home more than my spouse does. None of the invisible work of women like planning vacations, decorating the house, h...
by Sam1
Sat Apr 06, 2019 8:09 am
Forum: Non-US Investing
Topic: Your opinion on debt?
Replies: 111
Views: 8113

Re: Your opinion on debt?

Another point is that the 30 year fixed rate mortgage is an amazing gift. Few people outside of the US ever have this opportunity. Our financial system is what allows it. Over time, inflation reduces your monthly mortgage payment significantly because it’s a fixed rate. It’s hard to create wealth if...
by Sam1
Sat Apr 06, 2019 8:07 am
Forum: Non-US Investing
Topic: Your opinion on debt?
Replies: 111
Views: 8113

Re: Your opinion on debt?

Everything in moderation.

Look at societies that don’t allow debt/interest. It’s been extremely difficult to build wealth. There’s a noticeable difference in the standArd of living. Some of this can be attributed to other factors, but a large part of it is the inability to borrow.
by Sam1
Sat Apr 06, 2019 8:03 am
Forum: Non-US Investing
Topic: Your opinion on debt?
Replies: 111
Views: 8113

Re: Your opinion on debt?

I believe "keeping up with the Joneses" is mainly a US phenomenon. In many parts of the world it is considered highly inappropriate to show off with your wealth (or pretend that you can afford to do so). By "many" you mean maybe couple of countries in north west Europe. Because in many parts of the...
by Sam1
Fri Apr 05, 2019 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Married couples: can you have a team mentality with separate finances?
Replies: 183
Views: 9848

Re: Married couples: can you have a team mentality with separate finances?

As the sole high income earning in our family, it would be unfair to my wife to ever make her feel like we had separate money. It’s “our money”. As a man, there are really only three logical reasons a husband would want to keep money seperate: 1. He wants to play with some of the money and not answ...
by Sam1
Fri Apr 05, 2019 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: Married couples: can you have a team mentality with separate finances?
Replies: 183
Views: 9848

Re: Married couples: can you have a team mentality with separate finances?

In my view, the first aspect of "team mentality" is common savings and financial goals. If in marriage there is an agreement on saving, spending, investing, and steps towards little/no debt and financial independence, separate finances can work - though it will be harder than shared finances. The b...
by Sam1
Wed Apr 03, 2019 5:19 am
Forum: Personal Finance (Not Investing)
Topic: Weighing career options (34 yo, considering leaving low COL for high COL, am I crazy?)
Replies: 54
Views: 4292

Re: Weighing career options (34 yo, considering leaving low COL for high COL, am I crazy?)

besides the job opportunity, the fact you don’t have kids is the determining factor. Even in a very HCOL city, you can find a decent one bedroom to rent that doesn’t cost an arm or a leg. Having kids is what makes a HCOL city hard. You suddenly require a lot more space, childcare costs are high, may...
by Sam1
Wed Apr 03, 2019 5:12 am
Forum: Personal Finance (Not Investing)
Topic: Weighing career options (34 yo, considering leaving low COL for high COL, am I crazy?)
Replies: 54
Views: 4292

Re: Weighing career options (34 yo, considering leaving low COL for high COL, am I crazy?)

ohai: It's in-house legal work that would make me very marketable in most major and midsized cities in the United States and I wouldn't need preexisting relationships or a book of business, which is rare in my profession. This sounds like a great opportunity. I’d go for it. It will open up doors in...
by Sam1
Tue Apr 02, 2019 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: At a crossroad - Expensive House or Private School Tuition? UPDATE
Replies: 75
Views: 6107

Re: At a crossroad - Expensive House or Private School Tuition?

Always buy in the good school district. your house is much more likely to retain/increase its value that way. $50k/yr for 12+ years of private school tuition could pay for a lot of house Private school is so expensive now that it doesn’t make sense unless you’re independently wealthy It’s 50k per k...
by Sam1
Tue Apr 02, 2019 8:34 am
Forum: Personal Finance (Not Investing)
Topic: At a crossroad - Expensive House or Private School Tuition? UPDATE
Replies: 75
Views: 6107

Re: At a crossroad - Expensive House or Private School Tuition?

Financially it's basically a wash. In the end you could have a $1M house to your name instead of 700k, but if you add in the cost of higher maintenance, renovation, taxes, etc., it may break even too. I'd consider other factors. Location, neighborhood, proximity to amenities, commute, etc. School f...
by Sam1
Mon Apr 01, 2019 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: At a crossroad - Expensive House or Private School Tuition? UPDATE
Replies: 75
Views: 6107

Re: At a crossroad - Expensive House or Private School Tuition?

My in-laws chose option #2. When they retired it meant they had a less valuable house AND had spent hundreds of thousands on tuition with no financial return. My parents chose public and my parents had a more valuable home with no mortgage at retirement to sell and had invested instead of spending o...
by Sam1
Sun Mar 31, 2019 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: 30yo Checking In
Replies: 20
Views: 3001

Re: 30yo Checking In

Whatever you do, make sure and don’t have kids before you’ve significantly paid down those loans. Childcare costs are extremely steep in a HCOL area and you need to be putting that money towards loans.

Absolutely max out your 401ks starting tomorrow.
by Sam1
Sun Mar 31, 2019 11:59 am
Forum: Personal Consumer Issues
Topic: Do any of you have a fear of changing jobs?
Replies: 73
Views: 5230

Re: Do any of you have a fear of changing jobs?

If you’ve been with your employer a long time, couldn’t you leave and probably return fairly easily? Keep your contacts and stay in touch. Within a year or so if the new job isn’t what you thought then reapply.

Sadly the best (and maybe only?) way to keep your pay increasing is to change jobs.
by Sam1
Sun Mar 31, 2019 11:53 am
Forum: Personal Consumer Issues
Topic: Do any of you have a fear of changing jobs?
Replies: 73
Views: 5230

Re: Do any of you have a fear of changing jobs?

Yes. Have this same problem now.

I’m older and realize how bad a job can be. I have a great one with flexibility. I could make more money elsewhere but terrified I’ll hate it and not be able to manage being a mother and do my job. So I stay.
by Sam1
Sun Mar 31, 2019 8:41 am
Forum: Personal Consumer Issues
Topic: Too late to go after driveway guy?
Replies: 21
Views: 3396

Re: Too late to go after driveway guy?

I wouldn’t want him returning to my house to do any work. I’d stay far away.

I also wouldn’t write a bad review out of fear of retaliation.
by Sam1
Sun Mar 31, 2019 8:21 am
Forum: Personal Investments
Topic: Making the plunge into 529s
Replies: 26
Views: 2925

Re: Making the plunge into 529s

I don’t think tuition is considered a “gift.” I’ve never heard of anyone being concerned with 529s and filing the IRS form. Ever.
by Sam1
Thu Mar 28, 2019 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford?
Replies: 33
Views: 2321

Re: How much house can we afford?

One other thing is...we want to buy because we believe the housing market will be more expensive. So wouldn't buying a house in and of itself be an investment too? Again, we live in the DC area - the market seems to be pretty hot all the time. Please help me debunk any myths if I'm wrong. You’re wr...
by Sam1
Thu Mar 28, 2019 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford?
Replies: 33
Views: 2321

Re: How much house can we afford?

Do you have to be in Nova? Can you try dc and buy in a neighborhood zoned for a good public elementary? There are more than you would think. You won’t like my opinion, but here it is: I may not be of the same culture as you, but my primary focus is my immediate family. Until college savings and reti...
by Sam1
Wed Mar 27, 2019 5:03 am
Forum: Personal Investments
Topic: Australia Market Undervalued?
Replies: 12
Views: 1058

Re: Australia Market Undervalued?

This is about the last country I’d invest in right now. They are just starting to burst their giant housing market bubble. It makes the US housing bubble look like a joke. Then there’s the fact the entire economy is built around housing and commodities.
by Sam1
Tue Mar 26, 2019 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: Buy or lease new car
Replies: 24
Views: 2737

Re: Buy or lease new car

My wife is on her third BMW 5. She told the salesman she only wanted to pay $528 (since it's a 528i) per month total including taxes with zero down. The same salesman calls her 4 months before her lease ends and tells her to exchange for another 528i for $528/month. She calls the same salesman and ...
by Sam1
Sun Mar 24, 2019 7:01 am
Forum: Personal Consumer Issues
Topic: Lease a car or buy a car
Replies: 49
Views: 4085

Re: Lease a car or buy a car

What stands out to me about your post is that you say you have driven cars for 10 years. Why change to driving a new car every three years?! It’s very easy to do the math by calculating a small downpayment and monthly lease for the next 3 years followed my 2 more leases. Then factor in buying the sa...
by Sam1
Sat Mar 23, 2019 7:00 pm
Forum: Personal Investments
Topic: High Tax bracket strategies
Replies: 49
Views: 6078

Re: High Tax bracket strategies

Be careful w the 529s. There was a proposal in congress to tax disbursements based on income. After that I stopped contributing (already had enough) and set up trust to put gift tax exempt 60K outside of estate every year. So the one thing I'd suggest you do is talk w an estate lawyer. Esp if you h...
by Sam1
Sat Mar 23, 2019 6:53 pm
Forum: Personal Consumer Issues
Topic: Lease a car or buy a car
Replies: 49
Views: 4085

Re: Lease a car or buy a car

Leasing is popular because it lowers the monthly payment amount someone has to pay. It’s more expensive to own and almost all of the new cars, especially luxury cars, are leased. Most people can afford a $500 bmw lease payment but NOT a $1200 car loan payment. Which is why they lease. Then they cont...
by Sam1
Sun Mar 17, 2019 6:30 pm
Forum: Personal Finance (Not Investing)
Topic: Housing should be no more than 28% of your income.
Replies: 66
Views: 6944

Re: Housing should be no more than 28% of your income.

To be fair, if you’re making an average salary and living in NY, you’ve made the decision to never accumulate wealth. You’re giving that up in order to live in NY. Some people choose this. But i can’t imagine many on this forum would do so. NY, especially manhattan, is not a city for an average wor...
by Sam1
Sun Mar 17, 2019 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: Housing should be no more than 28% of your income.
Replies: 66
Views: 6944

Re: Housing should be no more than 28% of your income.

In HCOL markets, it's mostly housing that is far more expensive than other goods, so you'd expect a higher percent of income to be allocated to housing. It doesn't make sense for rented housing to only be allocated the same amount as mortgage (P&I). In the former, the rent money is burned; in the l...
by Sam1
Sun Mar 17, 2019 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Housing should be no more than 28% of your income.
Replies: 66
Views: 6944

Re: Housing should be no more than 28% of your income.

In HCOL markets, it's mostly housing that is far more expensive than other goods, so you'd expect a higher percent of income to be allocated to housing. It doesn't make sense for rented housing to only be allocated the same amount as mortgage (P&I). In the former, the rent money is burned; in the l...
by Sam1
Wed Mar 13, 2019 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Are my parents' finances a disaster waiting to happen? Seeking advice.
Replies: 105
Views: 11881

Re: Are my parents' finances a disaster waiting to happen? Seeking advice.

I’m confused by all the Medicaid references. How on earth does a couple collecting six figures in retirement qualify for something that is meant to cover the destitute? Sounds like your father will go into a nursing home, and your mother will be forced to reduce her lifestyle to pay for it. Seems t...
by Sam1
Wed Mar 13, 2019 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Can or should we afford this house
Replies: 62
Views: 4794

Re: Can or should we afford this house

The question you need to ask yourself is: Do I want to invest in the market (ie index funds) OR do I want to invest in a nicer house I can possibly stay in for quite some time? I had to ask myself this same question. I decided I want to invest in index funds but after a certain point, splurge for th...
by Sam1
Wed Mar 13, 2019 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Elderly parent on path to run out of money in 6 months
Replies: 35
Views: 9936

Re: Elderly parent on path to run out of money in 6 months

My mother-in-law had a stroke and could no longer live on her own without all day assistance/supervision because she developed issues with short-term memory, impulse control, and incontinence, and she needed help dressing, making her meals, etc. She was not incapacitated enough to qualify for a nur...
by Sam1
Tue Mar 12, 2019 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Can or should we afford this house
Replies: 62
Views: 4794

Re: Can or should we afford this house

That said, I'm surprised people are saying even at $1.2 million is still too much on a $375k salary. That's 3.2x salary. Doesn't seem that crazy. You're getting that crazy talk from people who have never competed for a house in a HCOL. Housing is expensive, no doubt about it. Spending on a house in...
by Sam1
Tue Mar 12, 2019 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Can or should we afford this house
Replies: 62
Views: 4794

Re: Can or should we afford this house

So based on all the responses I think what we're going to do is just lowball an offer ($1.2 maybe). ... Um, most responses say don’t buy. Read them again. To add more, I still don't think we'll buy and much more likely to wait longer. But I feel like as a first time buyer I want to at least throw a...