Search found 1689 matches

by Bacchus01
Mon Mar 18, 2013 6:26 pm
Forum: Personal Consumer Issues
Topic: Things I should buy/experience while in my 30s?
Replies: 112
Views: 12994

Re: Things I should buy/experience while in my 30s?

Don't travel to foreign countries. LIVE in foreign countries. Find a job or take a transfer to another part of the world. If you are English speaking (it appears you are) go to a country where English is not the primary language. Move every 2 years to a different country. You won't get a chance to d...
by Bacchus01
Fri Mar 15, 2013 10:14 pm
Forum: Personal Consumer Issues
Topic: Best way to mulch yard?
Replies: 26
Views: 4535

Re: Best way to mulch yard?

I buy it by the yard, but I have a lot of beds.

The first year we moved in the previous owner had not kept it up.

We ordered and spread TWENTY-FIVE YARDS of mulch in about 4-5 hours.

Last year we only had to do 18, and this year I'll probably do just 10-12.

I pay around $30/yd delivered.
by Bacchus01
Thu Mar 14, 2013 7:31 am
Forum: Personal Finance (Not Investing)
Topic: Your Home Equity / Net Worth Ratio?
Replies: 119
Views: 11184

Re: Your Home Equity / Net Worth Ratio?

15%

Not close to payoff.
by Bacchus01
Wed Mar 13, 2013 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Living with Less. A Lot Less (NYTimes Article)
Replies: 74
Views: 12390

Re: Living with Less. A Lot Less (NYTimes Article)

We have 5,800 sq ft. Our bathroom is close to 420 sq ft.

No thanks. I believe in living a simpler life (and we will downsize when the kids are gone) but there is a level of compromise I'm not willing to make, and living in a closet is one of them.
by Bacchus01
Wed Mar 13, 2013 2:35 am
Forum: Investing - Theory, News & General
Topic: What's your number? Why?
Replies: 258
Views: 32562

Re: What's your number? Why?

Technically, Firecalc doesn't say that at all. It says that "in the past" every 50-year scenario would have been successful. It doesn't say anyting about the future.

That said, I tend to be one that believes the future, over a long enough period of time, will look a lot like the past.
by Bacchus01
Tue Mar 12, 2013 8:44 am
Forum: Personal Consumer Issues
Topic: What % of gross income do you spend on rent/mortgage?
Replies: 132
Views: 10460

Re: What % of gross income do you spend on rent/mortgage?

6.5% for mortgage
8.5% if you include taxes and insurance

5800 sq ft.
by Bacchus01
Fri Mar 08, 2013 11:55 pm
Forum: Investing - Theory, News & General
Topic: What's your number? Why?
Replies: 258
Views: 32562

Re: What's your number? Why?

"I make way more than the "average" Dr. and will be around $1.5M at age 40. However, I have 3 kids who I would spend every penny on and a wife who has been at home for the ast 8 years. Take those things awayand I'd be well over $3M by 40." Bacchus-- what is your specialty? That is still impressive ...
by Bacchus01
Fri Mar 08, 2013 12:57 pm
Forum: Investing - Theory, News & General
Topic: What's your number? Why?
Replies: 258
Views: 32562

Re: What's your number? Why?

I am always surprised in these threads how many plan to have multiple millions (over $2 mil) by 40. By my math even saving $50,000 a year starting at 22 (no easy feat) and earning 7% a year won't get you there by 40 assuming you start with $0. Perhaps we have an inordinate number of NYC investment ...
by Bacchus01
Thu Mar 07, 2013 2:19 pm
Forum: Investing - Theory, News & General
Topic: What's your number? Why?
Replies: 258
Views: 32562

Re: What's your number? Why?

I must have a bigger goal than most. I'm 39, wife is 44. My goal is $10M and I plan to be there between 47 and 52 years old (round it to 50 and you got a deal). Our net worth has to grow about 15%+ for that to happen, which is entirely doable considering my working income. Why $10M? Well, because I ...
by Bacchus01
Wed Mar 06, 2013 11:08 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA - am I doing it correctly?
Replies: 5
Views: 1923

Re: Backdoor Roth IRA - am I doing it correctly?

You don't have to wait. I was able to open and fund a non-deductible IRA and immediately transfer it to a Roth. It didn't do all the transactions until the next day, but it did all them essentially at once. I then did 2013. Had never done backdoor Roth and in the course of a couple days we had $21K ...
by Bacchus01
Mon Mar 04, 2013 9:30 am
Forum: Investing - Help with Personal Investments
Topic: Well compensated, not so knowledgeable Dr.=Beginner
Replies: 107
Views: 11424

Re: Well compensated, not so knowledgeable Dr.=Beginner

Get those IRAs and SEPs rolled into your 401K so you can do Roth's back doors effectively.
by Bacchus01
Mon Mar 04, 2013 9:28 am
Forum: Personal Finance (Not Investing)
Topic: To Refi or Not
Replies: 3
Views: 563

Re: To Refi or Not

I'm not a fan of 15-year mortgages. Get a 30 at crazy low rates and then pay extra principle like a 15-year if you want to accelerate payments. You'll pay a slightly higher interest rate, but it will give you greater financial flexibility. Like said above, consider this refi on it's own merits. I re...
by Bacchus01
Mon Mar 04, 2013 9:26 am
Forum: Personal Consumer Issues
Topic: [Should we] buy a two story house or a one story?
Replies: 43
Views: 5196

Re: Woud you rather buy a two story house or a one story?

2-story houses are cheaper to build.

2-story houses are more expensive to maintain.

Stairs are GOOD exercise...don't avoid them when young.

2-story houses allow you to seperate space better.

2-story houses allow for larger yards.
by Bacchus01
Sun Mar 03, 2013 9:45 pm
Forum: Personal Consumer Issues
Topic: leather vs cloth car seats
Replies: 32
Views: 6462

Re: leather vs cloth car seats

I've had leather seats in all cars for the last 15 years.

Never had a problem with the hot seats (lived in Charlotte for 4 years).

Never had a problem with the cold seats (lived in RI and now WI for 20+ years)

They wear much, much better.
by Bacchus01
Thu Feb 28, 2013 10:39 pm
Forum: Investing - Help with Personal Investments
Topic: Well compensated, not so knowledgeable Dr.=Beginner
Replies: 107
Views: 11424

Re: Well compensated, not so knowledgeable Dr.=Beginner

I wouldn't pay off the house. That's me. I WOULD pay it down to a conforming loan and refinance at sub 3% on a 5-yr ARM then make your decision in 5 years on the remaining balance. I have two homes at 2.125% today that i could pay off, but why? This gives you flexibility and if rates do rise in 5 ye...
by Bacchus01
Thu Feb 28, 2013 6:35 pm
Forum: Investing - Help with Personal Investments
Topic: Will Rental Property be a good fit (K1, age diff, ROTH)
Replies: 30
Views: 1858

Re: Will Rental Property be a good fit (K1, age diff, ROTH)

Many REITs aren't invested in Real Estate at all. At least not in the classical sense.
by Bacchus01
Wed Feb 27, 2013 9:24 pm
Forum: Investing - Help with Personal Investments
Topic: Will Rental Property be a good fit (K1, age diff, ROTH)
Replies: 30
Views: 1858

Re: Will Rental Property be a good fit (K1, age diff, ROTH)

I'll stick with my previous advice. The car loan is consumer debt.

Pay that off and pay down and refinance your house before doing anything else.
by Bacchus01
Wed Feb 27, 2013 3:58 pm
Forum: Investing - Help with Personal Investments
Topic: Will Rental Property be a good fit (K1, age diff, ROTH)
Replies: 30
Views: 1858

Re: Will Rental Property be a good fit (K1, age diff, ROTH)

Welcome. Sorry to be a it harsh, but you're upside down on your first piece of real estate, and you want to buy more? Before any more alternative investing, I would suggest you rid yourself of consumer debt, and pay down the mortgage on your home to get to what are the lowest lows you'll probably ev...
by Bacchus01
Wed Feb 27, 2013 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Plans
Replies: 4
Views: 784

Re: 529 Plans

From their online guide, it states the following about the WI tax deduction: The deduction is available to parents, grandparents, great grandparents, aunts, and uncles of a Beneficiary who make contributions during the tax year, regardless of whether they are the Account Owner. Interestingly, it doe...
by Bacchus01
Wed Feb 27, 2013 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Plans
Replies: 4
Views: 784

529 Plans

I continued to learn stuff here every day. I only recently learned that we could open 529 plans in my name and my wife's name and then change the beneficiary in the future to one or more of our 3 children. We live in WI where there is a $3K state tax deduction limit per beneficiary. We are invested ...
by Bacchus01
Sun Feb 24, 2013 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: tax rate on a retention bonus?
Replies: 2
Views: 1661

Re: tax rate on a retention bonus?

You will almost certainly be taxed at the supplemental federal tax rate of 25%.

Now, that's what will come out of your check. For tax planning purposes for the year, it is normal income and will be taxed at your marginal tax rate come tax time.
by Bacchus01
Sun Feb 24, 2013 11:59 am
Forum: Investing - Theory, News & General
Topic: Only after a 150% stock market rally in 4 years...
Replies: 115
Views: 14805

Re: Only after a 150% stock market rally in 4 years...

As a newbie myself, I can tell some of my story. Is it related to recent growth in the market? Sure, but that's a small part of it. In 2008/2009 I lost about 50% of the value of our 7-figure portfolio at the age of 35. However, much of that loss was stock options which ultimately never returned to v...
by Bacchus01
Sat Feb 23, 2013 8:14 am
Forum: Investing - Help with Personal Investments
Topic: should I consider home equity part of asset allocation?
Replies: 27
Views: 5823

Re: should I consider home equity part of asset allocation?

As others have said, I count it as part of my net worth for sure, but not part of my asset allocation. That said, net worth is my ultimate measuring stick towards retirement, so it comes into play in the broader scheme. We own two homes and I would expect to sell both of them within the next 15 year...
by Bacchus01
Wed Feb 20, 2013 6:21 pm
Forum: Personal Consumer Issues
Topic: Military Prep School
Replies: 45
Views: 4918

Re: Military Prep School

Those questioning the quality of academics at the acadamies are really, really uninformed. Pay no attention to that. Your son or daughter will get one of the best educations in the world at a service academy. The education is beyond the books as well. What people don't understand is that while there...
by Bacchus01
Wed Feb 20, 2013 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Purchase of Multi-family home
Replies: 22
Views: 2223

Re: Purchase of Multi-family home

Or, better yet, he could continue to rent. The bottom line is that when the cost to buy is disproportionate to your cost to rent (in this case a lot), then the financial decision is the rent. It may not be the emotional decision, but the purely financial decision is that, in this case, continuing to...
by Bacchus01
Tue Feb 19, 2013 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Purchase of Multi-family home
Replies: 22
Views: 2223

Re: Purchase of Multi-family home

Your rent should be 1% of your asking price as a floor. 2% is ideal. As an investment, this is worth no more than $420K if that's what your rents are worth.
by Bacchus01
Fri Feb 15, 2013 9:22 pm
Forum: Personal Consumer Issues
Topic: How much to spend on a new washer & dryer
Replies: 66
Views: 19649

Re: How much to spend on a new washer & dryer

Very interested in this topic. Our 8 year old Kitchenaid Superba's have just about done it. I've repaired the washer twice and the dryer twice. Now the washer is leaking and making a lot of noise on agitate. I just don't know if I have the heart to fix it yet again. After all, it's a $300 machine fr...
by Bacchus01
Mon Feb 11, 2013 9:37 am
Forum: Investing - Theory, News & General
Topic: What is your current Asset Allocation Policy and why?
Replies: 83
Views: 12937

Re: What is your current Asset Allocation Policy and why?

I'm 39, married, 3 kids. Wife does not work. Our AA "Plan" looks like: 80% equities 20% bonds/CDs/Cash In the equities, 40% TSM-type funds; 40% Total International; 20% Mid-Cap funds For bonds/CDs/Cash I keep $100K in cash/CDs and the rest is broad bond funds. Actual allocation is a bit different bu...
by Bacchus01
Mon Feb 11, 2013 9:22 am
Forum: Investing - Help with Personal Investments
Topic: Income Limit on Roth IRA Contribution
Replies: 10
Views: 5055

Re: Income Limit on Roth IRA Contribution

Just do a back door and forget about MAGI.
by Bacchus01
Fri Feb 08, 2013 10:39 am
Forum: Investing - Theory, News & General
Topic: What % of your income are you saving for retirement?
Replies: 228
Views: 30143

Re: What % of your income are you saving for retirement?

rr2 wrote:I'm curious how those who save over 50% of gross do it. Taxes (federal+state+payroll) alone comprise about 20% of our gross income. Therefore total expenses must be less than 30% of gross income. Amazing!!!
Having a very high gross income helps.
by Bacchus01
Fri Feb 08, 2013 10:35 am
Forum: Investing - Theory, News & General
Topic: What % of your income are you saving for retirement?
Replies: 228
Views: 30143

Re: What % of your income are you saving for retirement?

I look at it both gross and net. Included in the "savings" I include: 401K contribtion, 401K match, after-tax investment contributions, and principal payments on two homes. I do look at my homes as retirement as I plan to liquidate both of them at retirement. Of net take-home pay, the above is 85%. ...
by Bacchus01
Thu Feb 07, 2013 11:26 am
Forum: Investing - Help with Personal Investments
Topic: Advisor says I have TOO MUCH CASH!!!!
Replies: 38
Views: 4086

Re: Advisor says I have TOO MUCH CASH!!!!

As others have said, 10% being too much or too little depends on your target AA, the size of the portfolio and the amount of your living expenses. I hold about 8%in cash and short-term CDs. That's about 1 year of living expenses for our family of 5 (I'm 39). I will probably end up around 5% in once ...
by Bacchus01
Tue Feb 05, 2013 11:47 pm
Forum: Personal Finance (Not Investing)
Topic: do you charge everything to 1 credit card?
Replies: 60
Views: 5526

Re: do you charge everything to 1 credit card?

How does the AMEX Blue treat groceries purchased at Wal Mart?

We buy at least $1,200/month at Wal Mart, almost entirey groceries, for our family of 5. Getting 6% would be a nice deal.
by Bacchus01
Tue Feb 05, 2013 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: do you charge everything to 1 credit card?
Replies: 60
Views: 5526

Re: do you charge everything to 1 credit card?

Yep. All Discover for everything we possibly can. We charge about $5,500/month to it. Back in the day, before all the silly new regs, I used to charge my BoA mortgage to my credit card each month. They frown on that now. I've been with Discover forever. I love their customer service. They have never...
by Bacchus01
Sun Feb 03, 2013 8:48 pm
Forum: Personal Consumer Issues
Topic: Quicken Deluxe 2013 Free with TurboTax Purchase at Amazon
Replies: 15
Views: 4693

Re: Quicken Deluxe 2013 Free with TurboTax Purchase at Amazo

I did it that way, and got it for free. Thanks!
by Bacchus01
Sun Feb 03, 2013 11:32 am
Forum: Personal Consumer Issues
Topic: Quicken Deluxe 2013 Free with TurboTax Purchase at Amazon
Replies: 15
Views: 4693

Re: Quicken Deluxe 2013 Free with TurboTax Purchase at Amazo

I think there's a separate product ID for the download version. Try this one: Quicken Deluxe 2013 (PC version). If you're not logged in, there will be a "Buy and download" option. Thank you. I was able to get to the "Buy and Download" option. However, it doesn't give me the option to do both at the...
by Bacchus01
Sun Feb 03, 2013 11:17 am
Forum: Personal Consumer Issues
Topic: Quicken Deluxe 2013 Free with TurboTax Purchase at Amazon
Replies: 15
Views: 4693

Re: Quicken Deluxe 2013 Free with TurboTax Purchase at Amazo

Both of my purchases were the downloaded versions, you shouldn't have any problems. I understand. HOW did you do it? It doesn't let me put both of them in a cart. You go right to buy and download. Did you just buy/download Turbotax first, then the discount worked when you bought/download Quicken? I...
by Bacchus01
Sun Feb 03, 2013 11:16 am
Forum: Personal Consumer Issues
Topic: Quicken Deluxe 2013 Free with TurboTax Purchase at Amazon
Replies: 15
Views: 4693

Re: Quicken Deluxe 2013 Free with TurboTax Purchase at Amazo

kenschmidt wrote:I'd put the download versions in your cart and then enter the promo code and see if it applies the discount. My guess would be that it will. You have a chance to see the final price before you submit your order.
Didn't work.
by Bacchus01
Sun Feb 03, 2013 11:06 am
Forum: Personal Consumer Issues
Topic: Quicken Deluxe 2013 Free with TurboTax Purchase at Amazon
Replies: 15
Views: 4693

Re: Quicken Deluxe 2013 Free with TurboTax Purchase at Amazo

Is there any way to do this with the download versions?
by Bacchus01
Sat Feb 02, 2013 10:26 pm
Forum: Personal Consumer Issues
Topic: Anyone using Quicken 2013?
Replies: 77
Views: 18005

Re: Anyone using Quicken 2013?

I use '11 with no plans to upgrade until I have to.

Bring back Money...please!
by Bacchus01
Sat Feb 02, 2013 11:48 am
Forum: Personal Finance (Not Investing)
Topic: 15yr vs 30yr Mortgage Question
Replies: 37
Views: 3015

Re: 15yr vs 30yr Mortgage Question

Get a 30. Pay extra principal on it like a 15. Gives you added flexibility for only a bit more interest cost.

And, if rates really rise, you can use that extra payment for something else.
by Bacchus01
Sat Feb 02, 2013 11:47 am
Forum: Investing - Theory, News & General
Topic: Asymmetric Rebalancing: What and Why?
Replies: 102
Views: 7754

Re: Asymmetric Rebalancing: What and Why?

In another thread, I think there was someone who calculated that, starting in early 2007 with a 75/25 portfolio, rebalancing on the way down and on the way up with a 5% band, that the end result was a few percentage points different than just holding that 2007 portfolio and riding it through.
by Bacchus01
Sat Feb 02, 2013 12:32 am
Forum: Investing - Help with Personal Investments
Topic: Two Comma Club
Replies: 199
Views: 35615

Re: Two Comma Club

I realize the whole "two comma club" thing is just a fun shorthand for having a certain level of assets, but when people think of the term that way, to what extent do they account for whether or not the money is in a retirement account? I'm not a member of the two comma club, and wouldn't say that ...
by Bacchus01
Sat Feb 02, 2013 12:27 am
Forum: Investing - Help with Personal Investments
Topic: Two Comma Club
Replies: 199
Views: 35615

Re: Two Comma Club

We joined the 2-comma club in 2007. I was 33 at the time. Then the meltdown occurred and we lost 40% by 2009. Ouch. It took us until early 2012 to rejoin the club and have been riding out of it pretty consistently since. From 2009 to 2012 our net worth nearly doubled. We're running at a 19% CAGR ste...
by Bacchus01
Thu Jan 31, 2013 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: Do you pay your taxes/insurance separate from your mortgage?
Replies: 42
Views: 4380

Re: Do you pay your taxes/insurance separate from your mortg

If they make you escrow...negotiate. During my last refi, they wanted me to escrow or pay .125 more. I walked away and told them they could keep it, I'll find someone else. He called me the next day and said "how about escrow insurance for one year, then we'll take it off?" I said sure. My taxes are...
by Bacchus01
Sat Jan 26, 2013 8:50 pm
Forum: Personal Consumer Issues
Topic: Buying new home before selling old one?
Replies: 16
Views: 3266

Re: Buying new home before selling old one?

One thing to look out for: insurance. During a relocation 3 years ago, we bought our new home while the old one was on the market. No problem since my company paid dual-housing costs and had a guaranteed buyout. HOWEVER, when we got insurance on our second home, they wanted to know about our first. ...
by Bacchus01
Sat Jan 26, 2013 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: How do you know when enough is in a 529 Plan?
Replies: 32
Views: 3388

Re: How do you know when enough is in a 529 Plan?

Even if you don't need the money, deferring taxes (if your state allows) is "almost" always a good thing.
by Bacchus01
Sat Jan 26, 2013 5:58 pm
Forum: Investing - Theory, News & General
Topic: Stock Market Makes New High
Replies: 35
Views: 3277

Re: Stock Market Makes New High

I don't know how to do this, but I am sure it's easy for some. It would be interesting to go back and look at the following scenario. $100K in a 70/30 3-fund lazy portfolio going into the "great recession." Rebalancing the asset allocation each time it got outside of +/- 5% of target allocation. On ...
by Bacchus01
Wed Jan 23, 2013 11:27 am
Forum: Investing - Theory, News & General
Topic: How Bogleheads made me a worse Investor
Replies: 76
Views: 8861

Re: How Bogleheads made me a worse Investor

It's addicting when you start out. You feel like you have all this new found yet simple wisdom. In my case, I had a mess of a portfolio that was overly risky and hard to even know what was in it. I've systematically re-allocated over the last 30 days or so and still have some work to do. That "work ...
by Bacchus01
Mon Jan 21, 2013 2:08 pm
Forum: Investing - Theory, News & General
Topic: Investing in Classic Cars
Replies: 13
Views: 1657

Re: Investing in Classic Cars

Sounds like no one has experience holding collectibles in ther portfolio.

Trying to understand how to define the diference between collectiving, investing, and dealing.