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2tall4economy

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2tall4economy

J.D. Power is a market research company that sells the ability to use their logo for the award you 'won'. Consumer Reports is a non-profit that has a no commercial use policy. I know which one I trust, and it's not J.D. Power. You're entitled to your opinion. Having worked inside an OEM I can tell ...

2tall4economy

Try this end of the telescope: Compare on Cargurus the asking price of a 5 year old Camry or Accord to any other comparable brand you choose. All else being equal the Camry and the Accord will likely command a higher asking price. Thus--there's your answer. All the best +1 Resale values are an exce...

2tall4economy

I won't change this board's group think with a single post, but I've got to start somewhere :) I keep reading all of these uninformed posts about how good Japanese quality is and not to buy American unless it's a Tesla. The people posting that are replaying the movie they watched 20 to 30 years ago....

2tall4economy

For the last 12 years I’ve required remnants to make rent payments electronically (written into the lease) via wire or ach. I have an account set up per property for rent to come in and expenses to go out. Some would say don’t do that because you have to give out your bank touting and and least one ...

2tall4economy

Fair, but I would argue the first six cons are the same whether you’re in a Fortune 500 or a real estate agent. Source: my experience as a real estate agent and in fortune 500s. Also, I don’t know who in their right mind would ever be a sales agent. Buy a house and rent it out for 3 years and you ca...

2tall4economy

Yes. Some of us need to have actual cash in the form of $5s and $10s etc. The bank branch at the supermarket 3 blocks away is very convenient for that purpose. The local Schwab and Fidelity branches are 20 minutes away by car and I doubt if they have much actual cash on hand if any. Would I need to...

2tall4economy

What do I like to drive? My Ferrari 360. Manual with the top down. What will most people on this board recommend? Something exceptionally boring and either electric or Japanese under the mistaken belief that only Japanese vehicles are of high quality and only electric vehicles are exciting. The qual...

2tall4economy

As others have highlighted, this is the specific example that a backdoor Roth was invented to handle.

2tall4economy

I used an accountant when I was doing a lot of international travel for work and as a result had to pay taxes in another country in addition to the US. My company required and paid for the accountant though. Definitely worthwhile because it got very complicated with tax liability in two countries. ...

2tall4economy

EVERY Tesla owner immediately ascends to a higher Karma level. It’s not a car. Unless you installed solar panels sufficient to charge the battery of that car you’re just trading one source of pollution for a different one. No karma to be had. Most electricity is powered by natural gas or coal. Exce...

2tall4economy

My in laws live there and we spend most summers down there. Traffic is miserable in both areas so no change there ;) Culturally and politically ideologically very very different. Can’t go a block without seeing a church. Nice people. Welcoming. Great restaurants and lots to do. Lots of growth and ex...

2tall4economy

I find a 529 a nearly worthless investment vehicle. The cost benefit to me is simply not where it needs to be. I put in the bare minimum to get the state income tax match ($20,000). I have it in first child’s name. I’ll tap it until it’s consumed, which it will be by the third kid getting into schoo...

2tall4economy

If any of the contributions were after tax (not Roth contributions, after tax contributions) and or portions of roll overs were and the employer plan allows in service roll overs then you can transfer that portion without penalty. This is how the mega backdoor 401k was born.

2tall4economy

Not really adding much to thread but having lived in Northern Midwestern climates (different ones all over world) a “ski jacket” with a waterproof breathable shell and down insulation. Is the key. You’ll probably be so warm you’ll unzip it part way. Layers too. Eddie Bauer and lol bean are inexpensi...

2tall4economy

Gabelli2020 wrote: EVERY Tesla owner immediately ascends to a higher Karma level. It’s not a car.

Unless you installed solar panels sufficient to charge the battery of that car you’re just trading one source of pollution for a different one. No karma to be had.

2tall4economy

Wife exited the workforce a few months after we were married. At the time I was red-hot angry about it (young, bait and switch thinking, etc) but then I did the math and her ~60k salary ended up being like a $20k hit in real income (married tax bracket vs single and her significantly lower income v...

2tall4economy

Wife exited the workforce a few months after we were married. At the time I was red-hot angry about it (young, bait and switch thinking, etc) but then I did the math and her ~60k salary ended up being like a $20k hit in real income (married tax bracket vs single and her significantly lower income v...

2tall4economy

You couldn’t pay me to own a Tesla. In fact I’ve lately been starting “collection” of sorts of inexpensive manual ice vehicles to bask in the nostalgia before they’re gone for good. That said, if you want to wait for a cheaper Tesla, you need border adoption and critical Mass of production. Gm will ...

2tall4economy

I’m curious how much $ people in this group spend on gifts over the holidays. Also, if there is anything interesting about how you do gifts. (No gifts, experiences only, splurge on certain people, etc) For me ~$3,500 $1,000 - 2 young kids $1,000 - on myself and wife $1,500 - on people/donations out...

2tall4economy

I’m curious how much $ people in this group spend on gifts over the holidays. Also, if there is anything interesting about how you do gifts. (No gifts, experiences only, splurge on certain people, etc) For me ~$3,500 $1,000 - 2 young kids $1,000 - on myself and wife $1,500 - on people/donations out...

2tall4economy

Wife exited the workforce a few months after we were married. At the time I was red-hot angry about it (young, bait and switch thinking, etc) but then I did the math and her ~60k salary ended up being like a $20k hit in real income (married tax bracket vs single and her significantly lower income v...

2tall4economy

Wife exited the workforce a few months after we were married. At the time I was red-hot angry about it (young, bait and switch thinking, etc) but then I did the math and her ~60k salary ended up being like a $20k hit in real income (married tax bracket vs single and her significantly lower income vs...

2tall4economy

if someone can articulate that I’d love to hear about it Marginal Utility of Wealth. Here's a good starting place. Let Google be your friend. https://www.investopedia.com/terms/m/marginalutility.asp I think a lot of people at that wealth level come to the same conclusion. I’m saying the same thing;...

2tall4economy

It was offered at one of my three former employers. I took it becaus it was the only way to get the 401k match that you’d otherwise miss out on because your compensation would hit the irs cap. For the reasons other mentioned, I only contributed the minimum to get the match. I quit three later and go...

2tall4economy

Sell it. I’m somewhat biased as I’ve also been a landlord for over a decade and recently decided to leave it behind, though for somewhat different reasons. I suspect your work is somewhat limited by your location (ie you have a reputation that drives business to you). If that’s true, thenIf I was yo...

2tall4economy

Research the heck out of it, then buy online at lowest price.

I’ve bought a few at abt. Some direct from mfg, some from Best Buy... all depends.

2tall4economy

It completely depends on what the writer, or politician, is trying to convince you of.

2tall4economy

I take stock every year and reset what is the 10% or 5% based on ending portfolio value. Sometimes I let it ride, sometimes I don’t. To be fair, most of my fun money is classic or exotic cars so usually I’m adding in absoltue dollars to offset depreciation, but occasionally I make some money on them...

2tall4economy

Most of the answers here are in the zone. In all cases you need to be the top of your profession and do it for years successfully or you need to roll the dice with entrepreneurship. I think anyone in a corporate / consulting / finance job that makes $1m+ per year toward mid to late career, watches t...

2tall4economy

Is a net worth over $3 million "financially secure", "wealthy", or "substantially wealthy"? 1. Less than $2m 2. At least $2m, average mid single digits 3. At least $10m, average $25m or more 4. $100m or more Is the above true? I grew up not knowing how much money my fo...

2tall4economy

I also spent some time looking at this also and I generally agree with you. I would add age/potential into the equation for example; a 40 year old with $15M will get more attention in tier 3 than a 65 year old with $15M would get in tier 2. Ha! I didn't connect the dots until just now but you're to...

2tall4economy

Is a net worth over $3 million "financially secure", "wealthy", or "substantially wealthy"? If you’re actually curious, I did some medium level (as in more than a few google searches)!research on this because I was curious. I spoke with a bunch of wealth managers and p...

2tall4economy

The ferrari I had posted on my wall growing up.

What did it cost me?

Oh, about 25 years.

2tall4economy

The steps for me: $1m to avoid starvation - achieved 2014 / age 38 $2m to start money worry going away - achieved 2017 $5m to retire with current lifestyle - target 2025 $10m to feel “rich” - looks like 2041, 15 years after I retire Of course, in today’s dollars both the $5m and $10m goals will take...

2tall4economy

When I graduated from college with my masters degree in engineering I figured I’d be an it guy For the rest of my life at a small company that was really good to me and never live outside of Michigan, where I had spent my whole life. 20 years later I have an MBA I work in finance for my third Fortun...

2tall4economy

Without spending ridiculous amounts of money, quality is simply not as good as it used to be. That said, the furniture I buy has lasted me and I quite like it. The major / heavy use pieces I have gotten from pottery barn or Ethan Allen. The low use pieces I get from wayfair or overstock. What I did ...

2tall4economy

As a fellow software engineer, it's all about equity, not salary. My RSU's are worth 2-5x my salary depending on the year. CA requires salary disclosure now, but is mum on equity. No idea how to phrase that as party of your requirement but here's an attempt: I require a salary of $250k and RSUs of ...

2tall4economy

If I was you and I was worried that one time expenses became recurring expenses (this is essentially your question), to me the answer is to always put 25x the expense you want for recurring, before you buy it, or maybe 12X for a one timer to represent ongoing costs, future trade up / maintenance cos...

2tall4economy

Pretty straightforward to me: If it loses its value quickly and becomes nearly worthless (ie food, most kids toys, Car tires, etc then it’s an expense and the answer is include it in your annual expenses and build your retirement appropriately. If it holds its value For a long time or has the potent...

2tall4economy

That lists most of the cities in the southeastern part of the US. Nashville, Atlanta, Charlotte. Chattanooga isn't that big but has amazing natural resources. St. Louis does get chilly but I really enjoy visiting and could see myself living there. I live in Birmingham which checks some of those box...

2tall4economy

I usually keep 2 cars at once (one to raise my blood pressure and one to lower it) and cycle them every 2 years. Wife has a car too but it’s more or less traded every 5+ years because she’s not a nut like I am. ...but basically I acquire 1 car per year because of that approach. . Very non boglehead...

2tall4economy

I usually keep 2 cars at once (one to raise my blood pressure and one to lower it) and cycle them every 2 years. Wife has a car too but it’s more or less traded every 5+ years because she’s not a nut like I am. ...but basically I acquire 1 car per year because of that approach. . Very non boglehead...

2tall4economy

Did it recently. No fees unles you sign up for you invest with their portfolio products. No sales pitch after the first meeting, which was required to be in person. Also getting accounts opened is also required to be in person. Annoying. No other bank I’ve used in past decade requires that. Thank y...

2tall4economy

Did it recently. No fees unless you sign up for youinvest with their portfolio products. No sales pitch after the first meeting, which was required to be in person. Also getting non-investment accounts opened required to be in person. Annoying. No other bank I’ve used in past decade requires that.

2tall4economy

Did it recently.

No fees unles you sign up for you invest with their portfolio products.

No sales pitch after the first meeting, which was required to be in person.

Also getting accounts opened is also required to be in person. Annoying. No other bank I’ve used in past decade requires that.

2tall4economy

In middle of Doing a refi on a rental property currently. Tried about 15 lenders. Most wouldn’t touch a cash out refi of a rental, but better.com and quicken/rocket would. Personally had nothing but bad experiences with quicken in the 1990s and 2000s so I swore them off, but since they were the only...

2tall4economy

decide ahead of time what percentage of net worth you want to have in cars. I’ve chosen 5%-10%. Can you explain how you chose that range? (I can't imagine wanting to spend that much on cars. Maybe it's just me.) I usually keep 2 cars at once (one to raise my blood pressure and one to lower it) and ...

2tall4economy

Then, why are you driving yourself to work? Time to upgrade to talking a helicopter. I actually did look into that. Suffice to say not cheap or easy to secure a place to land on either side of the trip. And the commute back home at night is only 20 min. It’s only one way that sucks. Looking forward...

2tall4economy

Wife had pretty much exact same choice in in front of her last year. You want 3 baby seats, get the gls. 2 baby seats the sq7. 3 baby seats and extra space the Escalade. If you don’t need baby seats or extra and you’re looking for performance, buy a sports car. Wife ended up trading her Escalade for...

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