Search found 630 matches

by 2tall4economy
Tue Aug 18, 2020 11:56 pm
Forum: Personal Investments
Topic: Starting over
Replies: 22
Views: 3057

Re: Starting over

The other option is to leave your funds at your current bank but drop the advisor and shift into a 2-4 low cost fund portfolio. You would still have access to the majority of their services if any are important to you based on your total assets, but lose the advisor AUM fees. I struggle to see how ...
by 2tall4economy
Tue Aug 18, 2020 11:32 pm
Forum: Investing - Theory, News & General
Topic: Investment strategies for high net worth individuals
Replies: 56
Views: 6119

Re: Investment strategies for high net worth individuals

For me it's whatever can weather the worst drawdowns we've seen in our history and still be able to withdraw 4% without running out of money. Probably somewhere around $6M to $10M before I'd feel like I couldn't really lose what I built. Beyond that, it's funny money used for entertainment, gambling...
by 2tall4economy
Tue Aug 18, 2020 11:02 pm
Forum: Personal Investments
Topic: How much did you save?
Replies: 102
Views: 14330

Re: How much did you save?

Tax deferred accounts only (easiest to measure because I only put money into the market this way for years and after tax investing I did via rental property), it took me and my wife 14 years to hit $1M. And it looks like my actual contributions in total were $445k to hit that $1M. The simple average...
by 2tall4economy
Tue Aug 18, 2020 10:42 pm
Forum: Personal Finance (Not Investing)
Topic: Huge escalations in cost of homeowners insurance
Replies: 59
Views: 6511

Re: Huge escalations in cost of homeowners insurance

Just posted a thread about a week ago on this. I connected with ~50 insurers and got ~35 quotes, and researched the best firms. Short answer, Chubb is a premium carrier, along with USAA, PURE and some others -- I'm sure you can find someone significantly cheaper without too much work. Based on my re...
by 2tall4economy
Tue Aug 18, 2020 10:25 pm
Forum: Investing - Theory, News & General
Topic: When should one share financials with their children?
Replies: 205
Views: 13496

Re: When should one share financials with their children?

Now, I'm on all my mother's accounts and the deed to her condo. Doesn't this mean that you won't get a stepped-up basis upon her passing? I'm not a CPA (well, not a practicing one anyway!) but my read of the law is that, since I contributed nothing and it was "gifted" to me by adding me t...
by 2tall4economy
Tue Aug 18, 2020 8:15 pm
Forum: Investing - Theory, News & General
Topic: When should one share financials with their children?
Replies: 205
Views: 13496

Re: When should one share financials with their children?

My dad shared nothing at all with anyone, even my mom. I knew about some of it because he was terrible with money and once upon a time I put their house in my name so mom didn't have to move houses anymore if dad missed too many payments. When he passed, he owned no liquid assets, only property and ...
by 2tall4economy
Tue Aug 18, 2020 7:43 pm
Forum: Personal Investments
Topic: Starting over
Replies: 22
Views: 3057

Re: Starting over

To me, the value prop a good bank / banker (vs paying no fees) brings is: 1) efficient, easy, electronic banking, swift issue resolution and reasonable returns and fees 2) single point of contact 3) intelligent management of credit card fraud alerts / credit cards perks / overseas ease and cost 4) s...
by 2tall4economy
Tue Aug 18, 2020 3:18 pm
Forum: Personal Investments
Topic: Asset allocation for property purchase in 2 to 8 years time?
Replies: 11
Views: 1162

Re: Asset allocation for property purchase in 2 to 8 years time?

Prefer the relatively wet weather and greenery to the very dry weather and sand (or urban city). Not in a suit, but for day to day. And you don't need a car (don't get me wrong, I love cars but not having one is better for my health because I have to walk). Australia is great but it might as well be...
by 2tall4economy
Tue Aug 18, 2020 12:47 am
Forum: Personal Finance (Not Investing)
Topic: How to pay down bad debt [minimize loss on a car loan]
Replies: 50
Views: 3345

Re: How to pay down bad debt

Unless you're both driving 2 seater sports cars, you have plenty of time to make a decision on changing cars. 1 kid is not an inconvenience. neither is 2. 3 is when you first enter into "do I need a different car" territory. I find that selling a car within 1-3 years of original purchase d...
by 2tall4economy
Tue Aug 18, 2020 12:42 am
Forum: Personal Investments
Topic: For people who don't like their employee provided HSA - why not open elsewhere?
Replies: 39
Views: 2801

Re: For people who don't like their employee provided HSA - why not open elsewhere?

What I do is transfer annually to a fidelity HSA that I opened. The problem of course is the fact that the capacity of the employer and the HSA plan the employer has to COMPLETELY SCREW UP when asked to do the transfer is rather high. I've had my account CLOSED annually despite repeated telling ever...
by 2tall4economy
Mon Aug 17, 2020 11:56 pm
Forum: Personal Investments
Topic: Asset allocation for property purchase in 2 to 8 years time?
Replies: 11
Views: 1162

Re: Asset allocation for property purchase in 2 to 8 years time?

Nothing terribly valuable to add -- but having spent lots of time in all of those places, I prefer Singapore of those. Australia a strong second, and UK very much third ;)
by 2tall4economy
Mon Aug 17, 2020 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Should I get a mortgage if I don't need one?
Replies: 26
Views: 3260

Re: Should I get a mortgage if I don't need one?

I'm in a somewhat similar situation and have been thinking about this question quite a lot, but I have rather less than $20M ;) I hate having more accounts than I need and also hate having loans hanging over my head. That said, here's my current view: Renting is generally a better financial decision...
by 2tall4economy
Sat Aug 15, 2020 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: Just got ~50 insurance quotes, thought I'd share my results for posterity
Replies: 98
Views: 11043

Re: Just got ~50 insurance quotes, thought I'd share my results for posterity

This will be my last update here. Over the course of the week I got a revised quote from Erie out of the blue, the agent that quoted me said he had received some remaining details and adjusted the original quote (unprompted and without me giving him any feedback from the quote he provided earlier) a...
by 2tall4economy
Thu Aug 13, 2020 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: Just got ~50 insurance quotes, thought I'd share my results for posterity
Replies: 98
Views: 11043

Re: Just got ~50 insurance quotes, thought I'd share my results for posterity

Did you run into different umbrella limits? Last time I was shopping It seems like most wouldn’t go over one or two million dollars. All but one of them (when the actually quoted) did up to $3M. The other did $2M. The ones I explored farther with had no problems at $5M (what I recently switched to)...
by 2tall4economy
Thu Aug 13, 2020 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: An un-bogleheaded question on high end home financing
Replies: 19
Views: 2031

Re: An un-bogleheaded question on high end home financing

smitcat wrote: Thu Aug 13, 2020 1:03 pm
PNC, One West bank (CIT), and Axos bank are a few sources.
You can search under 'super jumbo' mortgages.
Yes, I saw that and have calls into them. PNC and Onewest are $5M but Axos is "$25M or more"

I'll share what I learn back here.

Thank you!
by 2tall4economy
Thu Aug 13, 2020 11:57 am
Forum: Personal Finance (Not Investing)
Topic: An un-bogleheaded question on high end home financing
Replies: 19
Views: 2031

Re: An un-bogleheaded question on high end home financing

During a sight seeing trip to Realtor.com I fantasized about buying some truly awe inspiring real estate for my retirement.. Nobody wanted to touch anything above $2M or $3M depending, despite a financial situation at retirement which would allow me to buy such a house in cash (as long as I didn't ...
by 2tall4economy
Thu Aug 13, 2020 10:32 am
Forum: Personal Finance (Not Investing)
Topic: An un-bogleheaded question on high end home financing
Replies: 19
Views: 2031

Re: An un-bogleheaded question on high end home financing

During a sight seeing trip to Realtor.com I fantasized about buying some truly awe inspiring real estate for my retirement.. Nobody wanted to touch anything above $2M or $3M depending, despite a financial situation at retirement which would allow me to buy such a house in cash (as long as I didn't ...
by 2tall4economy
Wed Aug 12, 2020 10:15 pm
Forum: Personal Finance (Not Investing)
Topic: Just got ~50 insurance quotes, thought I'd share my results for posterity
Replies: 98
Views: 11043

Re: Just got ~50 insurance quotes, thought I'd share my results for posterity

Was told by former military friends that USAA has not been same since opened to all military. We had AAA for a while, but you have to have top tier AAA membership as they do not include towing, etc. on auto. Allstate has been the best price for us in Texas. 4 cars, 1 house. I had to do some digging...
by 2tall4economy
Wed Aug 12, 2020 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: An un-bogleheaded question on high end home financing
Replies: 19
Views: 2031

Re: An un-bogleheaded question on high end home financing

sailaway wrote: Wed Aug 12, 2020 9:46 pm Did you call anybody that you already have a significant financial relationship with?
Yeah, $3M was their max. Some others were $1.5M or $2M and often they wanted me to shift my investments to them first. Granted it was only 4-5 banks I called.
by 2tall4economy
Wed Aug 12, 2020 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: An un-bogleheaded question on high end home financing
Replies: 19
Views: 2031

Re: An un-bogleheaded question on high end home financing

Thanks! Never thought of that. Believe it or not I've always had financing lined up before I went serious house shopping in the past (was always part of the relocation) so it never came up, even after buying ~15 houses or so.

Dunce cap!

Will report back what I find for anyone curious.
by 2tall4economy
Wed Aug 12, 2020 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Just got ~50 insurance quotes, thought I'd share my results for posterity
Replies: 98
Views: 11043

Re: Just got ~50 insurance quotes, thought I'd share my results for posterity

https://www.policygenius.com/ I gave it a whirl. what policy? select Auto fill in a screen. bundled with a home or separate? select separate since I rent "We're sorry, we only do Auto + Home bundles" start over... what policy? select Renter fill in a screen what type of rental is this &qu...
by 2tall4economy
Wed Aug 12, 2020 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: Just got ~50 insurance quotes, thought I'd share my results for posterity
Replies: 98
Views: 11043

Re: Just got ~50 insurance quotes, thought I'd share my results for posterity

OP, just out of curiosity what companies were the top 3 ratings? USAA Insurance Group NJM Insurance Group Amica Mutual Group Auto Owners is rated pretty high, too, right? my Auto Owners policy just removed I went from $1600ish/yr to $1700ish/yr for one car, condo and umbrella. For me, USAA is not c...
by 2tall4economy
Wed Aug 12, 2020 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: Large pay cut for better quality of life
Replies: 82
Views: 7737

Re: Large pay cut for better quality of life

I'll be contrary to many on this board and say you should tough it out unless you're suicidal. I liken it to a military retirement. I don't expect lots of military get satisfaction from loading ordnance on an airplane (relative has that job), but you only need to do it until you're in your 40s and t...
by 2tall4economy
Wed Aug 12, 2020 8:36 pm
Forum: Personal Investments
Topic: Messed up my ESPP!
Replies: 11
Views: 1050

Re: Messed up my ESPP!

I've gone through this a few times actually. Typically, HR isn't allowed to help you maximize your gain at the companies expense but they will help you with all the rules (usually slowly, since they don't fully understand them themselves). In one company I worked at they had a rule where as soon as ...
by 2tall4economy
Wed Aug 12, 2020 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: An un-bogleheaded question on high end home financing
Replies: 19
Views: 2031

An un-bogleheaded question on high end home financing

During a sight seeing trip to Realtor.com I fantasized about buying some truly awe inspiring real estate for my retirement. I got truly curious and got a bug to figure out how buying such a place was possible. So I randomly called a few major banks and inquired about a $5M loan. Nobody wanted to tou...
by 2tall4economy
Wed Aug 12, 2020 8:13 pm
Forum: Personal Consumer Issues
Topic: Should I purchase a whole house generator?
Replies: 321
Views: 17836

Re: Should I purchase a whole house generator?

We love power at our house around 5 times per year. It's annoying. If it happens in the early morning, I oversleep and don't get to work on time. Sometimes the power is out for 12 hours and then things start to go bad in the fridges. We're not sure why power is not more reliable (we are in a suburb...
by 2tall4economy
Wed Aug 12, 2020 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: Just got ~50 insurance quotes, thought I'd share my results for posterity
Replies: 98
Views: 11043

Re: Just got ~50 insurance quotes, thought I'd share my results for posterity

GEICO is about as good as AAA. It isn't any worse. There is a lot of year-to-year variation in the rankings. In the magazine, Consumer Reports used to publish a footnote that said "Differences of fewer than 5 points aren't meaningful." It's harder to notice that footnote online. Here are ...
by 2tall4economy
Wed Aug 12, 2020 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Just got ~50 insurance quotes, thought I'd share my results for posterity
Replies: 98
Views: 11043

Re: Just got ~50 insurance quotes, thought I'd share my results for posterity

radiowave wrote: Wed Aug 12, 2020 3:52 pm OP, just out of curiosity what companies were the top 3 ratings?
USAA Insurance Group
NJM Insurance Group
Amica Mutual Group
by 2tall4economy
Wed Aug 12, 2020 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Just got ~50 insurance quotes, thought I'd share my results for posterity
Replies: 98
Views: 11043

Re: Just got ~50 insurance quotes, thought I'd share my results for posterity

I am a bit jaded by going with the cheapest company that has good ratings. I ran through a similar exercise in my earlier years and was wowed by the savings I could expect by switching to a new company. It was a bit of work, though. I switched but felt bad leaving my previous agent who had been goo...
by 2tall4economy
Wed Aug 12, 2020 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Just got ~50 insurance quotes, thought I'd share my results for posterity
Replies: 98
Views: 11043

Re: Just got ~50 insurance quotes, thought I'd share my results for posterity

Don't some of those companies have different coverages at base? Not your problem but I think some don't offer guaranteed replacement cost on homeowners. Others do. Some, but I thought not all, offer agreed value for cars and OEM replacement parts. How were you able to configure the quotes so that y...
by 2tall4economy
Wed Aug 12, 2020 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Just got ~50 insurance quotes, thought I'd share my results for posterity
Replies: 98
Views: 11043

Re: Just got ~50 insurance quotes, thought I'd share my results for posterity

I ended up forcing them to use email (I developed a detailed info summary which answered every question I was ever asked and sent it to them in my first contact with them) and told them to pound sand if they didn't. All but 2 eventually played ball over email. I plan to undertake a similar exercise...
by 2tall4economy
Wed Aug 12, 2020 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Just got ~50 insurance quotes, thought I'd share my results for posterity
Replies: 98
Views: 11043

Re: Just got ~50 insurance quotes, thought I'd share my results for posterity

Why no quotes from GEICO and Progressive? No coverage for one of your specific policy requirements? GEICO, Progressive, Nationwide, eSurance (and probably a few others): Their website wouldn't quote me (because it didn't or because my car wasn't in their dropdown) and emails went unanswered. They r...
by 2tall4economy
Wed Aug 12, 2020 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Just got ~50 insurance quotes, thought I'd share my results for posterity
Replies: 98
Views: 11043

Re: Just got ~50 insurance quotes, thought I'd share my results for posterity

10-15 years ago USAA was the best on pricing. I'm not sure what happened, but a lot of people I know have also noted that it's no longer the case. I wonder if that was their business model (dumping?): start off with low price and get a bunch of clients, provide good customer service, and then slowl...
by 2tall4economy
Wed Aug 12, 2020 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Just got ~50 insurance quotes, thought I'd share my results for posterity
Replies: 98
Views: 11043

Just got ~50 insurance quotes, thought I'd share my results for posterity

As title says; I moved states last year and just used the company my new employer got a discount with when I moved because my old insurer would not cover in my new state. Now that renewals came up, went whole hog and contacted every company that consumer reports had a rating on (~50 of them). I'm in...
by 2tall4economy
Tue Aug 04, 2020 10:10 pm
Forum: Personal Consumer Issues
Topic: Cordless String Trimmer - 40V? 18V? 4Ah? 2.5Ah?
Replies: 33
Views: 1575

Re: Cordless String Trimmer - 40V? 18V? 4Ah? 2.5Ah?

Another vote for ego from me.
by 2tall4economy
Thu Jul 30, 2020 9:02 am
Forum: Personal Finance (Not Investing)
Topic: CRAZY HOT housing market. Bidders and multiple offers
Replies: 18
Views: 2615

Re: CRAZY HOT housing market. Bidders and multiple offers

You must be in the coastal states. Your experience is the opposite of the country as a whole right now. In the market I used to be in a year ago, in the market my rental properties are in a few states away and the market I live in now a few states away From that, the story is COMPLETELY opposite and...
by 2tall4economy
Sun Jul 12, 2020 11:30 am
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1756
Views: 163525

Re: My LenderFi refinance is going well

Just for kicks I tried them just now.

No matter what I entered into their rate lookup they said “sorry we do have anything that matches your needs, try again”

Either down, or they don’t serve my geographical area.
by 2tall4economy
Sat Jul 11, 2020 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: Trying to retire. What to do with my rental property?
Replies: 17
Views: 2289

Re: Trying to retire. What to do with my rental property?

I’m exiting my portfolio that I’ve held for decades in preparation for retirement in a few years.

My view; I’ll get close to the same return using an index fund for real estate and have everything necessary liquid if needed. No reason to hold all that equity at risk.
by 2tall4economy
Wed Jun 10, 2020 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: form 8606 blues
Replies: 64
Views: 3835

Re: form 8606 blues

I do not understand how this can happen so often when tax software is involved. Any CPA or tax preparer should be entering a traditional IRA contribution when doing the return. It needs reported somewhere and may lower taxes if deductible. Once entered the software should complete the Form 8606 wit...
by 2tall4economy
Wed Jun 03, 2020 10:07 pm
Forum: Personal Investments
Topic: Does every one here only have 3 funds in their portfolios?
Replies: 131
Views: 8531

Re: Does every one here only have 3 funds in their portfolios?

nanameg wrote: Tue Jun 02, 2020 8:23 pm
2tall4economy wrote: Tue Jun 02, 2020 6:37 pm I just had 1 for about 15 years.

Now I have two.

I’m not counting cash, but if so then I have 3.
What two?
FZROX (used to be VTSAX)
FXNAX
by 2tall4economy
Tue Jun 02, 2020 6:44 pm
Forum: Personal Investments
Topic: Which budgeting software do you use ?
Replies: 66
Views: 4028

Re: Which budgeting software do you use ?

None. I track spending in excel each month and categorize it into the bls buckets so I compare myself to others to see if we’re spending too much vs others and look for reduction opportunities. A while I back I set up Monthly debit card deposits for the wife and I and that is ours to spend however w...
by 2tall4economy
Tue Jun 02, 2020 6:37 pm
Forum: Personal Investments
Topic: Does every one here only have 3 funds in their portfolios?
Replies: 131
Views: 8531

Re: Does every one here only have 3 funds in their portfolios?

I just had 1 for about 15 years.

Now I have two.

I’m not counting cash, but if so then I have 3.
by 2tall4economy
Mon Jun 01, 2020 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: 1:1 salary and stock jobs?
Replies: 80
Views: 5901

Re: 1:1 salary and stock jobs?

In tech org structures tend to be very flat. My employer has >5000 employees and as an IC with no reports, there are only 3 people between me and the CEO (my manager, the org's engineering director, CTO). Promotions within a functional career ladder don't change that. At least on the product engine...
by 2tall4economy
Mon Jun 01, 2020 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: 1:1 salary and stock jobs?
Replies: 80
Views: 5901

Re: 1:1 salary and stock jobs?

Love the phrase "true executive." DH's last promotion made him technically an executive, which gave us a bump in certain benefits ( better dental, vision and charity matching). There is nothing executive about the title, he has no direct reports and they aren't required to get his next pr...
by 2tall4economy
Mon Jun 01, 2020 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: 1:1 salary and stock jobs?
Replies: 80
Views: 5901

Re: 1:1 salary and stock jobs?

But I think that misses the point of this post. The point is that jobs with significant equity compensation have significant growth potential relatively independent of what kind of work you do and how you do it. I can’t think of another job where an analyst starts off making $100k and ends up at $4...
by 2tall4economy
Sat May 30, 2020 12:49 am
Forum: Personal Finance (Not Investing)
Topic: 1:1 salary and stock jobs?
Replies: 80
Views: 5901

Re: 1:1 salary and stock jobs?

My first hand experience in mega corps in a variety of industry lies is that the first level of true executive is when you get your first rsus and them + bonus tends to be at 1:1 to base. Then as you go up (keep in mind there isn’t much “up” left; maybe 2-3 promos and you’re up for the ceo job), the...
by 2tall4economy
Sat May 30, 2020 12:38 am
Forum: Personal Finance (Not Investing)
Topic: Sell or rent $2m house?
Replies: 52
Views: 4231

Re: Sell or rent $2m house?

As someone who has been a landlord for decades, sell. First time landlording absentee with permanent relocation and at that rate or return, no way. Sell and buy a reit mutual fund. Separately you can escape us tax by leaving. You have to renounce your citizenship and pay a huge fee based on the valu...
by 2tall4economy
Mon Apr 20, 2020 12:40 am
Forum: Personal Finance (Not Investing)
Topic: Estate questions
Replies: 17
Views: 1855

Re: Estate questions

having done this myself (estate management) I had to create a bank account for the estate and deposit all checks into it.

This is because you need clean records in case the it’s comes knocking.
by 2tall4economy
Fri Apr 17, 2020 2:24 am
Forum: Personal Finance (Not Investing)
Topic: How long for executive to get up to speed?
Replies: 28
Views: 3157

Re: How long for executive to get up to speed?

Not c suite here but 1 step down in a megacorp. Done the switch a few times. It’s evolved. The last one they basically set me up with 1:1 meetings with anyone and everyone I might interact with. Initially I hated it because it took nearly theee full weeks to finish meeting people and I didn’t have a...
by 2tall4economy
Sun Apr 12, 2020 1:46 am
Forum: Personal Finance (Not Investing)
Topic: Capital One QuickSilver credit card limit
Replies: 36
Views: 1998

Re: Capital One QuickSilver credit card limit

Cal customer service. Talk to a manager human being. Ask what they need from you. Usually works. If it doesn’t, hang up and try again. I do think capital one is notorious for low credit limits though. Every card I had was a minimum $20k for years and years except capital one who limited me to $2k or...