Search found 288 matches

by MindTheGAAP
Thu Mar 23, 2017 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Stay & remodel vs. Move - North Dallas
Replies: 25
Views: 1382

Re: Stay & remodel vs. Move - North Dallas

As a DFW resident, I'd move if I were in your shoes. I'd either want to be in Dallas proper or on a few acres outside of town. To me, Allen is the middle ground. Bonus: Your kids will love growing up with a few "pets." I'm beginning to lean that way, honestly. Especially since Collin County is expl...
by MindTheGAAP
Thu Mar 23, 2017 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Stay & remodel vs. Move - North Dallas
Replies: 25
Views: 1382

Re: Stay & remodel vs. Move - North Dallas

I certainly like the "no HOA" choice and would probably be sold on that alone. Bigger schools do not equate to better. Kids can get lost (not literally as in needing a GPS) in big schools and administration and support staff doesn't know when a kid is in a death spiral until it's too late. Our town...
by MindTheGAAP
Thu Mar 23, 2017 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Stay & remodel vs. Move - North Dallas
Replies: 25
Views: 1382

Re: Stay & remodel vs. Move - North Dallas

You're in a very good position, and I would advise you not to rush. Your girls are still young, though I can understand you getting anxious with your oldest about to start school. Being someone who also wants to own a few acres for my kids, I suggest you move. However, I would feel very differently...
by MindTheGAAP
Thu Mar 23, 2017 11:29 am
Forum: Personal Finance (Not Investing)
Topic: Stay & remodel vs. Move - North Dallas
Replies: 25
Views: 1382

Re: Stay & remodel vs. Move - North Dallas

Thanks for the response. You're right, it isn't like we live in a rough neighbourhood - it is a typical middle-to-middle-upper suburban Dallas subdivision with all of the +ves and -ves that come with that. Cookie cutter homes, alley system that causes neighbours to not really know one another, etc. ...
by MindTheGAAP
Thu Mar 23, 2017 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Stay & remodel vs. Move - North Dallas
Replies: 25
Views: 1382

Stay & remodel vs. Move - North Dallas

All - My wife and I have three (3) young daughters (4.5, 3, 6mos) and currently live in Allen ISD. We have been eyeing Lovejoy ISD which is about 2 miles east of us for a few reasons and I wanted to see if I could get the BH perspective on the matter. Both are good school districts with some distinc...
by MindTheGAAP
Wed Mar 08, 2017 6:32 pm
Forum: Personal Consumer Issues
Topic: Google wifi is awesome
Replies: 67
Views: 16153

Re: Google wifi is awesome

*Update* I found the Google Wifi router system on Amazon. Different from OnHub. Just to clarify, you are talking about Google OnHub? Not Google Wi-Fi where Google tried to provide a free municipal network for internet access. You have an internet connection with some provider and use the Google OnH...
by MindTheGAAP
Mon Feb 27, 2017 11:03 am
Forum: Personal Investments
Topic: Thoughts on allocation in my slice and dice portfolio?
Replies: 4
Views: 673

Re: Thoughts on allocation in my slice and dice portfolio?

Why would you have both VTI and VOO? VTI is a more encompassing version of VOO w/ mid-cap and small-caps built in. I'm fully on-board with wanting to overweight small caps with a 33-yr horizon but you'd be effectively be doubling up on the S&P 500 for the 10% allocation. If it were me, I'd be puttin...
by MindTheGAAP
Mon Feb 20, 2017 4:10 pm
Forum: Personal Investments
Topic: 20% bonds: why bother at 48?
Replies: 131
Views: 9829

Re: 20% bonds: why bother at 48?

See Figure 2 in this article by Rick Ferri. I think this (or something similar) is what was being referenced. Thanks cherijoh, that's exactly the chart I think that Boomer was referring to. If not, it definitely is the chart I was referring to. :happy :D You are very welcome! BTW, I think anyone co...
by MindTheGAAP
Mon Feb 20, 2017 1:04 pm
Forum: Personal Investments
Topic: 20% bonds: why bother at 48?
Replies: 131
Views: 9829

Re: 20% bonds: why bother at 48?

Looks like I have some adjustment to do from 88/12, then! Remember that Klangfool is a bit of a 'prepper' in the financial world. He views that you should be ready at a moment's notice to begin making early withdrawals from your accounts in order to meet your immediate financial needs. It's fine if...
by MindTheGAAP
Mon Feb 20, 2017 12:55 pm
Forum: Personal Investments
Topic: 20% bonds: why bother at 48?
Replies: 131
Views: 9829

Re: 20% bonds: why bother at 48?

https://personal.vanguard.com/us/insights/investingtruths/investing-truth-about-risk Folks, Look at the average return of each AA. 100/0 10.2% 90/10 9.9% 80/20 9.6% 70/30 9.2% Let's compare 100/0 versus 80/20. The average return is between 10.2% versus 9.6% = + 0.6%. The maximum loss for 100/0 is 5...
by MindTheGAAP
Mon Feb 20, 2017 12:15 pm
Forum: Personal Investments
Topic: 20% bonds: why bother at 48?
Replies: 131
Views: 9829

Re: 20% bonds: why bother at 48?

https://personal.vanguard.com/us/insights/investingtruths/investing-truth-about-risk Folks, Look at the average return of each AA. 100/0 10.2% 90/10 9.9% 80/20 9.6% 70/30 9.2% Let's compare 100/0 versus 80/20. The average return is between 10.2% versus 9.6% = + 0.6%. The maximum loss for 100/0 is 5...
by MindTheGAAP
Wed Feb 15, 2017 2:22 pm
Forum: Personal Investments
Topic: Why Dollar Cost averaging is lousy
Replies: 23
Views: 3800

Re: Why Dollar Cost averaging is lousy

Let's all be clear, this is saying if you have a significant lump sump from an inheritance or bonus of some sort, you're better dropping it all in at once vs. DCA. It is not saying that you should lean against DCA if you are making regular ongoing contributions. Basic takeaway for me: get your money...
by MindTheGAAP
Wed Feb 15, 2017 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Retire in my 30s?!
Replies: 34
Views: 6815

Re: Retire in my 30s?!

Big Worm wrote:What is the business?
Also curious.
by MindTheGAAP
Sat Feb 11, 2017 7:59 am
Forum: Personal Investments
Topic: Saving for college for 2 kids: 3 and 0
Replies: 80
Views: 4968

Re: Saving for college for 2 kids: 3 and 0

Alto Astral wrote: Klang likely feels I am the fool who is too young & optimistic and not preparing enough
In that case I'm young and cynical since I'm not quite 29!
by MindTheGAAP
Sat Feb 11, 2017 12:26 am
Forum: Personal Investments
Topic: Saving for college for 2 kids: 3 and 0
Replies: 80
Views: 4968

Re: Saving for college for 2 kids: 3 and 0

Why does it need to be private university? I went to one but it was somewhat part of the deal with my folks for paying for it. I don't think I necessarily got a better degree out of it - I think it was just a different experience. Hey, who does not want their newborn to go to Harvard? Alto Astral, ...
by MindTheGAAP
Fri Feb 10, 2017 6:14 pm
Forum: Personal Investments
Topic: Saving for college for 2 kids: 3 and 0
Replies: 80
Views: 4968

Re: Saving for college for 2 kids: 3 and 0

But I am not confident I can do that for a private college Why does it need to be private university? I went to one but it was somewhat part of the deal with my folks for paying for it. I don't think I necessarily got a better degree out of it - I think it was just a different experience. Hey, who ...
by MindTheGAAP
Fri Feb 10, 2017 5:45 pm
Forum: Personal Investments
Topic: Saving for college for 2 kids: 3 and 0
Replies: 80
Views: 4968

Re: Saving for college for 2 kids: 3 and 0

But I am not confident I can do that for a private college Why does it need to be private university? I went to one but it was somewhat part of the deal with my folks for paying for it. I don't think I necessarily got a better degree out of it - I think it was just a different experience. Hey, who ...
by MindTheGAAP
Fri Feb 10, 2017 5:16 pm
Forum: Personal Investments
Topic: Saving for college for 2 kids: 3 and 0
Replies: 80
Views: 4968

Re: Saving for college for 2 kids: 3 and 0

Alto Astral wrote: But I am not confident I can do that for a private college
Why does it need to be private university? I went to one but it was somewhat part of the deal with my folks for paying for it. I don't think I necessarily got a better degree out of it - I think it was just a different experience.
by MindTheGAAP
Fri Feb 10, 2017 4:40 pm
Forum: US Chapters
Topic: Your USER NAME...what does it mean?
Replies: 471
Views: 57150

Re: Your USER NAME...what does it mean?

Am in consulting - primarily accounting and finance and I am a CPA. Also from England. Play on that for 'Mind The GAAP'.
by MindTheGAAP
Fri Feb 10, 2017 4:38 pm
Forum: Personal Investments
Topic: Saving for college for 2 kids: 3 and 0
Replies: 80
Views: 4968

Re: Saving for college for 2 kids: 3 and 0

You are not going to spend the money on your kid's college education and be a burden to your children. That is not helping anyone. Often understated by many. Doesn't do your kids any good by putting them through University and then needing them to fund your final years... I know if given the choice...
by MindTheGAAP
Fri Feb 10, 2017 4:13 pm
Forum: Personal Investments
Topic: Saving for college for 2 kids: 3 and 0
Replies: 80
Views: 4968

Re: Saving for college for 2 kids: 3 and 0

We went with a brokerage account over 529 for a couple of reasons: firstly, we don't get a tax-break on contributions since we live in TX & we don't know what the future of higher education will look like OR if kiddos will get any kind of scholarships if such things exist at the time. For us, we li...
by MindTheGAAP
Fri Feb 10, 2017 3:34 pm
Forum: Personal Investments
Topic: Saving for college for 2 kids: 3 and 0
Replies: 80
Views: 4968

Re: Saving for college for 2 kids: 3 and 0

The thought of my kids getting a large chunk of my money at Age 18 or 21 with no strings attached scares me too much. Why not let the compounding happen in a 529 and tie the money to education? You can always take it out if you decide you need it for other purposes. 1. If you have had the appropria...
by MindTheGAAP
Fri Feb 10, 2017 2:44 pm
Forum: Personal Investments
Topic: Saving for college for 2 kids: 3 and 0
Replies: 80
Views: 4968

Re: Saving for college for 2 kids: 3 and 0

Your plan is fine for this stage of your lives. There is no doubt that it will evolve as time goes on. Good luck! +1. I have 4.5y/o, 3y/o, and 4m/o daughters and we recently started thinking more about the whole University savings mission. We decided that since we are in TX, we would use a Vanguard...
by MindTheGAAP
Tue Feb 07, 2017 4:43 pm
Forum: Personal Consumer Issues
Topic: Hotel Recommendations - Las Vegas
Replies: 20
Views: 2803

Re: Hotel Recommendations - Las Vegas

Top of the list (with pool desires) has to be the Signature at MGM Grand. They are 3 towers behind the MGM Grand casino that were originally built to be condos, and are now a mix of timeshares / hotel rooms. The towers are fully non-smoking, and the balcony suites are very reasonably priced; they i...
by MindTheGAAP
Tue Jan 31, 2017 2:24 pm
Forum: Personal Consumer Issues
Topic: Carribean island most like Hawaii
Replies: 63
Views: 11270

Re: Carribean island most like Hawaii

Drew777 wrote:Not an island, but I think Costa Rica would meet your criteria.
+1
by MindTheGAAP
Tue Jan 31, 2017 2:19 pm
Forum: Personal Consumer Issues
Topic: Leather sectional
Replies: 9
Views: 1595

Re: Leather sectional

We bought a large (non-sectional) leather sofa from http://cascobayfurniture.com/ several years ago. Hand made in NC, completely customizable from size (in any width and depth) to leather choice to cushion filling, etc. Was a fraction of the cost of similar sofas sold in the big-name stores. (I thi...
by MindTheGAAP
Thu Jan 26, 2017 10:27 am
Forum: Personal Investments
Topic: Is it to time to switch from Target Date fund to 3 fund portfolio?
Replies: 13
Views: 2456

Re: Is it to time to switch from Target Date fund to 3 fund portfolio?

BogleMelon wrote:
MindTheGAAP wrote:
add Small Value and REIT) so that made it slightly more limiting still.
If you have Total US index fund, then small value and REIT companies should be already in your portfolio, no?
Is it in my portfolio, yes. I chose to be overweight in those areas.
by MindTheGAAP
Thu Jan 26, 2017 10:20 am
Forum: Personal Investments
Topic: Is it to time to switch from Target Date fund to 3 fund portfolio?
Replies: 13
Views: 2456

Re: Is it to time to switch from Target Date fund to 3 fund portfolio?

I would wait until 50-100k Why? Can you please explain further? Not the original poster of those parameters but as someone who has about $80k in assets, I think that $50k is probably a good marker to begin splitting out from the Target Funds. Why? Because you have enough funds to easily meet the mi...
by MindTheGAAP
Wed Jan 18, 2017 4:19 pm
Forum: Personal Investments
Topic: 28yr old newbie playing catch up
Replies: 29
Views: 3409

Re: 28yr old newbie playing catch up

Fellow nomad!! Thanks for the reassurance. Yes, I don't plan on being at this current employer forever so I will definitely roll my 401k into something at Vanguard. In a fantasy world I'd love to move to London and work there for a bit, but I'm too scared to make the move. Just wanted to say that i...
by MindTheGAAP
Tue Jan 17, 2017 11:39 am
Forum: Personal Investments
Topic: Switching Careers and Maximizing Tax Advantage Accounts
Replies: 2
Views: 539

Re: Switching Careers and Maximizing Tax Advantage Accounts

Since it is your family's business, could you not be self-employed and setup your own Solo 401K? Would allow you to put in $18k/yr + 25% of net profit or W2 wages (if you do LLC taxed as S Corp) and therefore have more space. I opted for LLC taxed as S Corp and will hire my wife to be the co-Manager...
by MindTheGAAP
Fri Jan 13, 2017 11:09 am
Forum: Investing - Theory, News & General
Topic: "Millennials may need to double how much they save for retirement"
Replies: 173
Views: 21624

Re: "Millennials may need to double how much they save for retirement"

This is my favorite part: "Among plan changes BlackRock suggests: higher default rates for employee contributions, requiring employees to contribute more to get the full match, auto enrolling older workers in “catch-up” programs that allow them to save more tax deferred, and making loans and early ...
by MindTheGAAP
Tue Jan 10, 2017 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Quarterly taxes with W2 and K1 income
Replies: 12
Views: 1130

Re: Quarterly taxes with W2 and K1 income

I have not been able to find an answer to this question. I have both W2 and K1 income. The majority is K1 income. Is it possible to not withhold anything from my W2 and pay quarterly taxes on both W2 and K1 income or am I required to withhold from my W2 and pay quarterly on my K1 income? Yes - as l...
by MindTheGAAP
Tue Jan 10, 2017 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: Quarterly taxes with W2 and K1 income
Replies: 12
Views: 1130

Re: Quarterly taxes with W2 and K1 income

I have not been able to find an answer to this question. I have both W2 and K1 income. The majority is K1 income. Is it possible to not withhold anything from my W2 and pay quarterly taxes on both W2 and K1 income or am I required to withhold from my W2 and pay quarterly on my K1 income? Yes - as l...
by MindTheGAAP
Tue Jan 10, 2017 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Quarterly taxes with W2 and K1 income
Replies: 12
Views: 1130

Re: Quarterly taxes with W2 and K1 income

I have not been able to find an answer to this question. I have both W2 and K1 income. The majority is K1 income. Is it possible to not withhold anything from my W2 and pay quarterly taxes on both W2 and K1 income or am I required to withhold from my W2 and pay quarterly on my K1 income? Yes - as l...
by MindTheGAAP
Tue Jan 10, 2017 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Quarterly taxes with W2 and K1 income
Replies: 12
Views: 1130

Re: Quarterly taxes with W2 and K1 income

I have not been able to find an answer to this question. I have both W2 and K1 income. The majority is K1 income. Is it possible to not withhold anything from my W2 and pay quarterly taxes on both W2 and K1 income or am I required to withhold from my W2 and pay quarterly on my K1 income? Yes - as l...
by MindTheGAAP
Mon Jan 09, 2017 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Relocation to the Dallas, TX Area
Replies: 32
Views: 4070

Re: Relocation to the Dallas, TX Area

goblue100 wrote:I personally would not live in Little Elm working @ Plano Parkway and Independence. Pretty much one way in and one way out, and the daily tolls back and forth would be another utility bill.
Agree - I get to run mine through as expenses to the client but they could really add up
by MindTheGAAP
Mon Jan 09, 2017 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Relocation to the Dallas, TX Area
Replies: 32
Views: 4070

Re: Relocation to the Dallas, TX Area

Thanks for the responses everyone. Here's some more information: The work location would be around the intersection of W. Plano Pkway and Independence Pkway. A house somewhere in Plano or thereabouts with a decent driving distance to work and in a very good school district would be the goal. We don...
by MindTheGAAP
Sun Jan 08, 2017 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Relocation to the Dallas, TX Area
Replies: 32
Views: 4070

Re: Relocation to the Dallas, TX Area

NoGambleNoFuture wrote:Kids play sports? Look in Allen ;)
Kids play sports and are best in the nation at the given sport? Look in Allen. If not, look elsewhere.
by MindTheGAAP
Sun Jan 08, 2017 4:27 pm
Forum: Personal Investments
Topic: 401k vs Roth 401k
Replies: 11
Views: 1221

Re: 401k vs Roth 401k

The Roth 401k doesn't have the withdrawal benefits of the Roth IRA. So you would have to wait till 59 1/2 to access the money. If someone is investing in a Roth 401k they are betting that taxes will be higher when they retire. IMO, unless one has one's life mapped out in terms of earnings, savings,...
by MindTheGAAP
Sun Jan 08, 2017 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Relocation to the Dallas, TX Area
Replies: 32
Views: 4070

Re: Relocation to the Dallas, TX Area

I'm on the verge of accepting an offer to move to my employer's Plano, TX office. I currently work in the Southern California office. The office is in Plano and I'd like to buy a house that is fairly close to the office, as I've read that the commutes around the Dallas area can be awful. Does anyon...
by MindTheGAAP
Sun Jan 08, 2017 3:24 pm
Forum: Personal Investments
Topic: 401k vs Roth 401k
Replies: 11
Views: 1221

Re: 401k vs Roth 401k

Posting to get notified of responses...

I'm currently SE and am trying to decide whether to do my 401k contribution as employee Roth or Traditional while in the 25% marginal bracket. Expect near year to be in the 28% if the bracket exists - may get lowered if Trump/Ryan get their way.
by MindTheGAAP
Fri Jan 06, 2017 2:46 pm
Forum: Personal Investments
Topic: Vanguard Solo 401K - from Sole Prop to LLC
Replies: 2
Views: 409

Vanguard Solo 401K - from Sole Prop to LLC

All, Wondering if anyone has gone through this before now: Nov 2016 - started operating as a sole proprietor doing consulting work and created a Solo 401k with Vanguard under a EIN for my sole proprietorship Jan 2017 - am going to create a LLC for my operations and wondering how this impacts my Solo...
by MindTheGAAP
Thu Jan 05, 2017 6:55 pm
Forum: Personal Investments
Topic: Ally Bank - Is this a safe/best place to stash some cash?
Replies: 108
Views: 37108

Re: Ally Bank - Is this a safe/best place to stash some cash?

jeff1949 wrote:
FelixTheCat wrote:Straight from Ally's website
Your deposits are insured by the FDIC up to the maximum allowed by law.
I have Ally. Great bank. Highly recommend them.
+1 :sharebeer
+2 :sharebeer
by MindTheGAAP
Tue Jan 03, 2017 12:45 pm
Forum: Investing - Theory, News & General
Topic: Are Younger people funding 529 Plans?
Replies: 109
Views: 10279

Re: Are Younger people funding 529 Plans?

It's a great opportunity for grandparents to get things started by opening an account and making a nice gift towards the grandchild's education. Both my parents and in-laws substantially helped with University for DW and I so both have laughed at some of their peers who have talked about helping gr...
by MindTheGAAP
Tue Jan 03, 2017 11:40 am
Forum: Investing - Theory, News & General
Topic: Are Younger people funding 529 Plans?
Replies: 109
Views: 10279

Re: Are Younger people funding 529 Plans?

livesoft wrote:
Clark & Addison wrote:A 20% tax credit seemed too good to pass up.
So is that social engineering where a state government will try to have more customers to its public universities in the future that pay their own tuitions and expenses while costing said customer reduced retirement assets?
Love this.
by MindTheGAAP
Tue Jan 03, 2017 10:48 am
Forum: Investing - Theory, News & General
Topic: Are Younger people funding 529 Plans?
Replies: 109
Views: 10279

Re: Are Younger people funding 529 Plans?

28 here and have 3 daughters... youngest being 3mos (today), eldest being almost 4.5. We have talked about 529 plans but haven't prioritised them for reasons discussed at length above. I, personally, think that the situation is going to change in terms of University in the US between now and when my...
by MindTheGAAP
Wed Dec 28, 2016 5:07 pm
Forum: Personal Investments
Topic: S-Corp Owner Question - Traditional or Roth 401k
Replies: 15
Views: 1422

Re: S-Corp Owner Question - Traditional or Roth 401k

Not a fan of paying the gov't more taxes, so I like the tax benefit this year of traditional, but I wondered if this is just the 'instant gratification' option and the 'delayed gratification' of paying taxes now and letting that fund grow and compound for tax free withdraws when I've matured a coup...
by MindTheGAAP
Wed Dec 28, 2016 12:52 pm
Forum: Personal Investments
Topic: WWYD: Year-End 401k Funding
Replies: 4
Views: 548

Re: WWYD: Year-End 401k Funding

Are you taxed as a self-employed individual or as an S-Corp shareholder-employee? You may not need to be in such a hurry. In both cases you must make an employee-deferral election by 12/31, but only an S-Corp shareholder-employee must have their employee deferral deducted with a pay date on or befo...
by MindTheGAAP
Wed Dec 28, 2016 12:20 pm
Forum: Personal Investments
Topic: WWYD: Year-End 401k Funding
Replies: 4
Views: 548

Re: WWYD: Year-End 401k Funding

Seem to be getting a decent number of views but no replies... If people would just say why they are refraining from sharing their opinion, that would be fantastic. Want to add value to the forum and not knowing why there is a lack of reply won't help that...