Search found 629 matches

by 2tall4economy
Tue Dec 29, 2020 1:04 am
Forum: Personal Consumer Issues
Topic: Vehicle quality (the real data, not anecdotes)
Replies: 139
Views: 9180

Re: Vehicle quality (the real data, not anecdotes)

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 ...
by 2tall4economy
Tue Dec 29, 2020 1:00 am
Forum: Personal Consumer Issues
Topic: Vehicle quality (the real data, not anecdotes)
Replies: 139
Views: 9180

Re: Vehicle quality (the real data, not anecdotes)

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...
by 2tall4economy
Mon Dec 28, 2020 2:58 am
Forum: Personal Consumer Issues
Topic: Vehicle quality (the real data, not anecdotes)
Replies: 139
Views: 9180

Vehicle quality (the real data, not anecdotes)

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....
by 2tall4economy
Sun Dec 27, 2020 12:12 am
Forum: Personal Finance (Not Investing)
Topic: Best Way to Collect Rent Electronically?
Replies: 89
Views: 4378

Re: Best Way to Collect Rent Electronically?

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 ...
by 2tall4economy
Thu Dec 24, 2020 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: Pros and Cons of becoming a Real Estate Agent
Replies: 62
Views: 5779

Re: Pros and Cons of becoming a Real Estate Agent

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...
by 2tall4economy
Thu Dec 24, 2020 9:08 pm
Forum: Investing - Theory, News & General
Topic: Does one need a bank account anymore?
Replies: 139
Views: 12925

Re: Does one need a bank account anymore?

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...
by 2tall4economy
Thu Dec 24, 2020 8:52 pm
Forum: Personal Consumer Issues
Topic: What kind of car do Bogleheads like to drive?
Replies: 470
Views: 39251

Re: What kind of car do Bogleheads like to drive?

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...
by 2tall4economy
Thu Dec 24, 2020 12:34 pm
Forum: Personal Investments
Topic: Why should I contribute to my non-deductible IRA?
Replies: 26
Views: 1776

Re: Why should I contribute to my non-deductible IRA?

As others have highlighted, this is the specific example that a backdoor Roth was invented to handle.
by 2tall4economy
Fri Dec 11, 2020 2:38 am
Forum: Personal Finance (Not Investing)
Topic: Does anyone use an accountant for personal taxes?
Replies: 146
Views: 9754

Re: Does anyone use an accountant for personal taxes?

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. ...
by 2tall4economy
Fri Dec 11, 2020 2:30 am
Forum: Personal Finance (Not Investing)
Topic: What should a 23 year old consider before purchasing a Tesla?
Replies: 264
Views: 13501

Re: What should a 23 year old consider before purchasing a Tesla?

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...
by 2tall4economy
Thu Dec 10, 2020 2:06 am
Forum: Personal Consumer Issues
Topic: Relocation to Houston, Texas from SF Bay - Advice
Replies: 102
Views: 8994

Re: Relocation to Houston, Texas from SF Bay - Advice

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...
by 2tall4economy
Thu Dec 10, 2020 2:01 am
Forum: Personal Investments
Topic: What’s “your number” for each kid’s 529?
Replies: 439
Views: 27746

Re: What’s “your number” for each kid’s 529?

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...
by 2tall4economy
Thu Dec 10, 2020 1:59 am
Forum: Personal Investments
Topic: In service 401k rollover eligibility question.
Replies: 8
Views: 553

Re: In service 401k rollover eligibility question.

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.
by 2tall4economy
Thu Dec 10, 2020 1:53 am
Forum: Personal Consumer Issues
Topic: Warm coat recommendations
Replies: 93
Views: 5103

Re: Warm coat recommendations

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...
by 2tall4economy
Thu Dec 10, 2020 1:47 am
Forum: Personal Finance (Not Investing)
Topic: What should a 23 year old consider before purchasing a Tesla?
Replies: 264
Views: 13501

Re: What should a 23 year old consider before purchasing a Tesla?

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.
by 2tall4economy
Thu Dec 10, 2020 1:42 am
Forum: Personal Finance (Not Investing)
Topic: Real impact of a salary cut
Replies: 18
Views: 2690

Re: Real impact of a salary cut

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...
by 2tall4economy
Thu Dec 10, 2020 1:37 am
Forum: Personal Finance (Not Investing)
Topic: Real impact of a salary cut
Replies: 18
Views: 2690

Re: Real impact of a salary cut

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...
by 2tall4economy
Thu Dec 10, 2020 1:35 am
Forum: Personal Finance (Not Investing)
Topic: What should a 23 year old consider before purchasing a Tesla?
Replies: 264
Views: 13501

Re: What should a 23 year old consider before purchasing a Tesla?

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 ...
by 2tall4economy
Mon Dec 07, 2020 12:41 am
Forum: Personal Consumer Issues
Topic: How much do you spend on gifts for the holidays?
Replies: 73
Views: 4334

Re: How much do you spend on gifts for the holidays?

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...
by 2tall4economy
Mon Dec 07, 2020 12:41 am
Forum: Personal Consumer Issues
Topic: How much do you spend on gifts for the holidays?
Replies: 73
Views: 4334

Re: How much do you spend on gifts for the holidays?

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...
by 2tall4economy
Mon Dec 07, 2020 12:38 am
Forum: Personal Finance (Not Investing)
Topic: Real impact of a salary cut
Replies: 18
Views: 2690

Re: Real impact of a salary cut

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...
by 2tall4economy
Mon Dec 07, 2020 12:23 am
Forum: Personal Finance (Not Investing)
Topic: Real impact of a salary cut
Replies: 18
Views: 2690

Re: Real impact of a salary cut

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...
by 2tall4economy
Tue Nov 17, 2020 1:16 am
Forum: Personal Finance (Not Investing)
Topic: Path to UHNW
Replies: 48
Views: 5180

Re: Path to UHNW

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;...
by 2tall4economy
Sun Nov 15, 2020 11:45 pm
Forum: Personal Finance (Not Investing)
Topic: Deferred Comp Plan
Replies: 42
Views: 3151

Re: Deferred Comp Plan

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...
by 2tall4economy
Sun Nov 15, 2020 11:41 pm
Forum: Personal Finance (Not Investing)
Topic: Sell my house, buy 2 condos, travel and see what I want to do in my life.
Replies: 19
Views: 2909

Re: Sell my house, but where to live then?

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...
by 2tall4economy
Sun Nov 15, 2020 11:34 pm
Forum: Personal Consumer Issues
Topic: Best place to buy a TV
Replies: 54
Views: 7277

Re: Best place to buy a TV

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.
by 2tall4economy
Sun Nov 15, 2020 11:33 pm
Forum: Investing - Theory, News & General
Topic: What is a High Earner bracket
Replies: 119
Views: 8739

Re: What is a High Earner bracket

It completely depends on what the writer, or politician, is trying to convince you of.
by 2tall4economy
Sun Nov 15, 2020 11:31 pm
Forum: Personal Investments
Topic: How do you handle "fun money"?
Replies: 63
Views: 5612

Re: How do you handle "fun money"?

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...
by 2tall4economy
Sun Nov 15, 2020 10:56 pm
Forum: Personal Finance (Not Investing)
Topic: Path to UHNW
Replies: 48
Views: 5180

Re: Path to UHNW

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...
by 2tall4economy
Sun Nov 15, 2020 7:14 am
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 543
Views: 141293

Re: If your net worth is over $3 million, how did you do it?

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...
by 2tall4economy
Fri Nov 13, 2020 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 543
Views: 141293

Re: If your net worth is over $3 million, how did you do it?

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...
by 2tall4economy
Fri Nov 13, 2020 1:19 am
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 543
Views: 141293

Re: If your net worth is over $3 million, how did you do it?

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...
by 2tall4economy
Wed Nov 11, 2020 2:54 am
Forum: Personal Consumer Issues
Topic: What expenditures improved your happiness/quality of life?
Replies: 234
Views: 42644

Re: What expenditures improved your happiness/quality of life?

The ferrari I had posted on my wall growing up.

What did it cost me?

Oh, about 25 years.
by 2tall4economy
Sun Nov 08, 2020 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 1367
Views: 184014

Re: How much money do you want to retire?

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...
by 2tall4economy
Sun Nov 08, 2020 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: New physician - pay off loans early or buy a house?
Replies: 32
Views: 3146

Re: New physician - pay off loans early or buy a house?

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...
by 2tall4economy
Fri Oct 23, 2020 8:12 pm
Forum: Personal Consumer Issues
Topic: "Nice" furniture recommendations
Replies: 114
Views: 10975

Re: "Nice" furniture recommendations

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 ...
by 2tall4economy
Thu Oct 22, 2020 2:44 am
Forum: Personal Finance (Not Investing)
Topic: Software developer about to seek new opportunities -- discuss salary up front?
Replies: 223
Views: 14784

Re: Software developer about to seek new opportunities -- discuss salary up front?

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 ...
by 2tall4economy
Thu Oct 22, 2020 2:31 am
Forum: Personal Finance (Not Investing)
Topic: Financially independent, still working, how to spend the extra cash?
Replies: 70
Views: 4933

Re: Financially independent, still working, how to spend the extra cash?

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...
by 2tall4economy
Thu Oct 22, 2020 2:18 am
Forum: Personal Finance (Not Investing)
Topic: [How to determine budget for toys/luxuries?]
Replies: 54
Views: 4671

Re: [How to determine budget for toys/luxuries?]

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...
by 2tall4economy
Wed Oct 21, 2020 5:07 pm
Forum: Personal Consumer Issues
Topic: Ideal City to live in?
Replies: 160
Views: 11763

Re: Ideal City to live in?

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...
by 2tall4economy
Wed Oct 21, 2020 4:01 pm
Forum: Personal Consumer Issues
Topic: Convince us to buy our first luxury car!
Replies: 193
Views: 10906

Re: Convince us to buy our first luxury car!

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...
by 2tall4economy
Wed Oct 21, 2020 12:09 pm
Forum: Personal Consumer Issues
Topic: Convince us to buy our first luxury car!
Replies: 193
Views: 10906

Re: Convince us to buy our first luxury car!

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...
by 2tall4economy
Wed Oct 21, 2020 12:08 pm
Forum: Personal Investments
Topic: Account fees with full service Chase Private Client account?
Replies: 22
Views: 1902

Re: Account fees with full service Chase Private Client account?

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...
by 2tall4economy
Wed Oct 21, 2020 3:07 am
Forum: Personal Investments
Topic: Account fees with full service Chase Private Client account?
Replies: 22
Views: 1902

Re: Account fees with full service Chase Private Client account?

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.
by 2tall4economy
Wed Oct 21, 2020 3:06 am
Forum: Personal Investments
Topic: Account fees with full service Chase Private Client account?
Replies: 22
Views: 1902

Re: Account fees with full service Chase Private Client account?

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.
by 2tall4economy
Wed Oct 21, 2020 2:59 am
Forum: Personal Finance (Not Investing)
Topic: Help with choosing Mortgage Co
Replies: 16
Views: 843

Re: Help with choosing Mortgage Co

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...
by 2tall4economy
Wed Oct 21, 2020 2:26 am
Forum: Personal Consumer Issues
Topic: Convince us to buy our first luxury car!
Replies: 193
Views: 10906

Re: Convince us to buy our first luxury car!

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 ...
by 2tall4economy
Wed Oct 21, 2020 2:21 am
Forum: Personal Consumer Issues
Topic: Convince us to buy our first luxury car!
Replies: 193
Views: 10906

Re: Convince us to buy our first luxury car!

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...
by 2tall4economy
Wed Oct 21, 2020 2:01 am
Forum: Personal Consumer Issues
Topic: Looking for a three row SUV; $90k budget
Replies: 117
Views: 9348

Re: Looking for a three row SUV; $90k budget

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...