Search found 685 matches

by miamivice
Sun Jul 10, 2016 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Safe Stolen
Replies: 56
Views: 8046

Re: Safe Stolen

For those of you who are keeping 4 copies of important documents on 4 thumbs drives in 3 formats and one that is off site, I would suggest you are making things far too complicated. You get all the benefit of backups, and darn well equal security, by e-mailing yourself the documents with a web base...
by miamivice
Sun Jul 10, 2016 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Where were you financially when you were at 30?
Replies: 226
Views: 30405

Re: Where were you financially when you were at 30?

My net worth was $341,000 at age 30 (2009 dollars). In today's dollars, that'd be $381,000.
by miamivice
Sat Jul 09, 2016 10:20 pm
Forum: Personal Finance (Not Investing)
Topic: Safe Stolen
Replies: 56
Views: 8046

Re: Safe Stolen

For those of you who are keeping 4 copies of important documents on 4 thumbs drives in 3 formats and one that is off site, I would suggest you are making things far too complicated. You get all the benefit of backups, and darn well equal security, by e-mailing yourself the documents with a web based...
by miamivice
Fri Jul 08, 2016 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: What does "maxing out retirement savings" mean?
Replies: 19
Views: 2450

What does "maxing out retirement savings" mean?

On here, I've heard the phrase "maxing our retirement savings" each year thrown out. I'm not sure what that means. Does it: a) Mean putting in enough to receive full company match? If two spouses are working, then does it mean both spouses put in enough to receive full company match? b) Pu...
by miamivice
Thu Jul 07, 2016 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Am I taking too much risk with my non-retirement?
Replies: 12
Views: 1665

Re: Am I taking too much risk with my non-retirement?

I am wondering if I am carrying too much risk. It is 100% invested in the stock market. I am willing to take reasonable risk (i.e., I continue to invest whether the market is up or down), have a significant emergency fund built up. Retirement and college are well funded. Age is 37. Appreciate your ...
by miamivice
Thu Jul 07, 2016 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: Am I taking too much risk with my non-retirement?
Replies: 12
Views: 1665

Re: Am I taking too much risk with my non-retirement?

Do you have back up money in case this fund is not enough? No. It's actually not enough to build my dream house, I'm still short by 10% - 20%. If not enough when you need it could you simply take out a small mortgage to cover the difference or use income to cover what payment the fund does not cove...
by miamivice
Thu Jul 07, 2016 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Safe Stolen
Replies: 56
Views: 8046

Re: Safe Stolen

If you are going to have a safe at home, it has to be bolted down. Even then, if it isn't a good quality safe, they aren't that hard to get into. Actually, if you read his original post, he did not have the safe for security purposes. He had it for fire protection purposes. No need to bolt down som...
by miamivice
Thu Jul 07, 2016 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Safe Stolen
Replies: 56
Views: 8046

Re: Safe Stolen

If you are going to have a safe at home, it has to be bolted down. Even then, if it isn't a good quality safe, they aren't that hard to get into. Actually, if you read his original post, he did not have the safe for security purposes. He had it for fire protection purposes. No need to bolt down som...
by miamivice
Thu Jul 07, 2016 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Safe Stolen
Replies: 56
Views: 8046

Re: Safe Stolen

The fallout seems to be a cluster. Safe was for fireproofing documents, not for security. It had the combination right on it. Bozos could have opened it, found nothing valuable and left the safe. - opened insurance claim - deal with insurance company Depending on how the insurance company views thi...
by miamivice
Thu Jul 07, 2016 1:44 am
Forum: Personal Finance (Not Investing)
Topic: Am I taking too much risk with my non-retirement?
Replies: 12
Views: 1665

Am I taking too much risk with my non-retirement?

I have a healthy mid-six digit amount of money set aside in a non-retirement account. My intended purpose with this money is to build a dream house. I am not sure whether I will use this money to build the dream house in 5 years, 10 years, or 15 years. Non-economic factors are in play here. If I wer...
by miamivice
Wed Jun 29, 2016 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: "Retirement Planning for the 'Gig' Economy"
Replies: 11
Views: 1838

Re: "Retirement Planning for the 'Gig' Economy"

If you drain your 401k to fund living expenses during periods of no paycheck, what do you use to fund your retirement? You can put a max of 18k per year in a 401k, and 18k doesn't go very far if you have a mortgage payment, car payment, and food expenses. miamivice, If a person has NO MONEY to pay ...
by miamivice
Wed Jun 29, 2016 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: "Retirement Planning for the 'Gig' Economy"
Replies: 11
Views: 1838

Re: "Retirement Planning for the 'Gig' Economy"

If you drain your 401k to fund living expenses during periods of no paycheck, what do you use to fund your retirement?

You can put a max of 18k per year in a 401k, and 18k doesn't go very far if you have a mortgage payment, car payment, and food expenses.
by miamivice
Wed Jun 29, 2016 12:03 am
Forum: Personal Finance (Not Investing)
Topic: How do I start a side job as a musician and avoid audit?
Replies: 15
Views: 1866

Re: How do I start a side job as a musician and avoid audit?

I also purchased a new 4'10'' petite grand piano in 2001 for around $5k and depreciated it over time with my CPA. You can choose whether to depreciate expenses all at once or over time, depending on your income and what makes sense for income vs. expenses. I don't think you can choose whether to de...
by miamivice
Wed Jun 29, 2016 12:00 am
Forum: Personal Finance (Not Investing)
Topic: How do I start a side job as a musician and avoid audit?
Replies: 15
Views: 1866

Re: How do I start a side job as a musician and avoid audit?

Thank you for the replies! Based on my own research and the replies above, this is my plan so far: 1. business bank account and credit card 2. sole proprietor under my name 3. Set up tax ID number 4. Website, advertising, record/sell work Be aware that as a sole proprietor, you personally are liabl...
by miamivice
Tue Jun 28, 2016 11:55 pm
Forum: Personal Consumer Issues
Topic: Bogleheads, have we "arrived" ?
Replies: 70
Views: 7389

Re: Bogleheads, have we "arrived" ?

Deleted
by miamivice
Tue Jun 28, 2016 5:17 pm
Forum: Personal Consumer Issues
Topic: Why is everyone up in arms about Costco's credit transition?
Replies: 65
Views: 6580

Re: Why is everyone up in arms about Costco's credit transition?

I only have an Amex and Mastercard. I guess thats the end of Costco for me. Yes, unless you want to pay with debit, cash, or personal check, or are willing to signup for a VISA credit card. I didn't have a American Express for about the first two years of being a Costco member and just used debit i...
by miamivice
Tue Jun 28, 2016 4:57 pm
Forum: Personal Consumer Issues
Topic: Why is everyone up in arms about Costco's credit transition?
Replies: 65
Views: 6580

Why is everyone up in arms about Costco's credit transition?

I honestly don't get it. Costco's accepted forms of payment switched from a less common (American Express) payment method to a more common (Visa) payment method. They used to take any American Express card and now they take any Visa. At the same time, the Costco branded credit card was switched from...
by miamivice
Fri Jun 24, 2016 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Should I quit my job with a pension to move to LCOL area?
Replies: 22
Views: 2505

Re: Should I quit my job with a pension to move to LCOL area?

If I did the math right, you and your wife make a total of ~$200,000 per year, but have around ~$100,000 saved up. That would indicate to me that you spend most of what you make. Can you reduce your spending enough that you can make ends meet living in a LCOL area? While rent is typically less expen...
by miamivice
Thu Jun 23, 2016 3:18 am
Forum: Personal Finance (Not Investing)
Topic: Should I express my inheritence thoughts to my father?
Replies: 78
Views: 7240

Re: Should I express my inheritence thoughts to my father?

Just want to say thanks to everyone for their responses. It is a difficult subject and was good that I was able to express my thoughts here and read responses. I do want to be clear that in no case would I be trying to ask for a greater share. That wouldn't be right of him as well as against my prin...
by miamivice
Wed Jun 22, 2016 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Should I express my inheritence thoughts to my father?
Replies: 78
Views: 7240

Re: Should I express my inheritence thoughts to my father?

No, there is really isn't a purpose in expressing my thoughts to my father....I don't know of a way to "structure" an inheritance that makes everything equal but rewards certain behaviors and punishes other behaviors, and an inheritance is not the time to reward/punish behavior anyways. I ...
by miamivice
Wed Jun 22, 2016 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: Finance or pay cash for dream house
Replies: 9
Views: 1277

Re: Finance or pay cash for dream house

At the moment, I'm a 100% stock. It's aggressive but I don't plan on retiring for 20 years so I don't see a need to be conservative in my investment philosophy. In about 10 years I'll need to think about being more conservative but not at the moment.
by miamivice
Wed Jun 22, 2016 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Should I express my inheritence thoughts to my father?
Replies: 78
Views: 7240

Should I express my inheritence thoughts to my father?

My father has always been a firm believer in live below your means, save today to ensure there is money to spend tomorrow. His tried to instill his money handling expertise (i.e., thrifty ways) on his children. Some, like myself, took the lessons to heart and do as he does. Others spend every dime, ...
by miamivice
Tue Jun 21, 2016 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Finance or pay cash for dream house
Replies: 9
Views: 1277

Re: Finance or pay cash for dream house

bigred77 wrote:What is your age, total net worth, and how much will the house cost?

If the house represents 1/2 of your net worth I would take a mortgage.

if the house is 1/10 of your net worth I would pay cash.


Construction + land is about $600,000. Total net worth today is $1.4 million. Age is 37.
by miamivice
Tue Jun 21, 2016 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Finance or pay cash for dream house
Replies: 9
Views: 1277

Finance or pay cash for dream house

As some of you know, I am looking at building my dream house in the next 1-3 years. It looks like my current home equity + taxable account can pay cash for the house. It looks like my non-taxable will have about $150,000 of capital gains, so I would have to pay capital gains taxes of around $22,500 ...
by miamivice
Sat Jun 18, 2016 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Dr. Charges Facilities fee of $300 - what should I do?
Replies: 142
Views: 11892

Re: Dr. Charges Facilities fee of $300 - what should I do?

So I recently saw a specialist and was billed at the normal specialist rate of a $50 co-pay. I then received a follow-up bill of $300 for a "facilities fee". I called billing and they explained that because the Dr. was in a hospital building, there is an additional fee. My concern is that...
by miamivice
Sat Jun 18, 2016 10:26 am
Forum: Personal Finance (Not Investing)
Topic: Portfolio returns small compared to income. Typical?
Replies: 5
Views: 950

Portfolio returns small compared to income. Typical?

I just reviewed my Vanguard portfolio. Much to my surprise, my total portfolio return over the last 10 years (reflective of total portfolio return over all of time) is about 1.5x income ($283,000 portfolio return, $190,000 income). I'm surprised by this. While $283,000 portfolio return is nothing to...
by miamivice
Mon Jun 06, 2016 8:41 pm
Forum: Personal Finance (Not Investing)
Topic: How to live on $110,000 less income each year?
Replies: 104
Views: 13266

Re: How to live on $110,000 less income each year?

Thanks for all of the replies. It's pretty clear to me that I couldn't go down in salary by 110k a year at this point of my life. Perhaps someday but not today. I sincerely appreciate the seriousness of the responses that I got on here. It meant a lot to be able to discuss my finances with a group o...
by miamivice
Mon Jun 06, 2016 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: How to live on $110,000 less income each year?
Replies: 104
Views: 13266

Re: How to live on $110,000 less income each year?

yellowgirl wrote:
Oh, I get it. Are you complaining that you guys are making too much money?


No, we don't have too much money. I'm seriously trying to figure out how I can make ends meet if I make a certain lifestyle change.
by miamivice
Mon Jun 06, 2016 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: How to live on $110,000 less income each year?
Replies: 104
Views: 13266

Re: How to live on $110,000 less income each year?

How could it not be wise financially to downsize from a 'nice house' to a 'small multifamily place' unless the nice house is significantly undervalued or the rent in the small multifamily place way out of line? Well, the home I am in has appreciated by about $140,000 in the 4 years that I've owned ...
by miamivice
Mon Jun 06, 2016 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: How to live on $110,000 less income each year?
Replies: 104
Views: 13266

Re: How to live on $110,000 less income each year?

Could you break this out line by line? Something like Mint would help you out a lot to pinpoint where the spending is. If you limited your eating out to $200 per month, you would be amazed at how much you save in buying groceries and cooking at home, especially if you primarily use Aldi or Costco. ...
by miamivice
Mon Jun 06, 2016 11:45 am
Forum: Personal Finance (Not Investing)
Topic: How to live on $110,000 less income each year?
Replies: 104
Views: 13266

Re: How to live on $110,000 less income each year?

I did forget about the tax impact. I've edited the original post to reflect. My analysis indicates: 1) Switch to renting rather than owning 2) Stop saving for retirement 3) Stop saving for non-retirement 4) Still have $28,000 gap to close. It looks difficult in my opinion to move to an $80,000 famil...
by miamivice
Mon Jun 06, 2016 11:43 am
Forum: Personal Finance (Not Investing)
Topic: How to live on $110,000 less income each year?
Replies: 104
Views: 13266

Re: How to live on $110,000 less income each year?

As to how much we spend, we spend about $36,000 - $40,000 per year for gasoline, food, car repairs, amusement park season passes, meals out, furniture for house, utility bills, smartphone charges, and the like. In addition to the expenses listed above (daycare, mortgage, retirement savings, etc), we...
by miamivice
Mon Jun 06, 2016 11:14 am
Forum: Personal Finance (Not Investing)
Topic: How to live on $110,000 less income each year?
Replies: 104
Views: 13266

How to live on $110,000 less income each year?

So, a friend makes $80,000 a year and has a stay at home wife, so his total family income is $80,000. My wife and I both work, and I work extra hours, so our family income has been $190,000 for the past several years. I'm slightly perplexed at how we could possibly reduce our expenditures to live on...
by miamivice
Sat Jun 04, 2016 3:07 pm
Forum: Personal Consumer Issues
Topic: Deleted....
Replies: 2
Views: 442

Deleted....

Deleted....
by miamivice
Sat Jun 04, 2016 7:12 am
Forum: Personal Finance (Not Investing)
Topic: How many Vanguard (or equiv) accounts do you have?
Replies: 16
Views: 1738

How many Vanguard (or equiv) accounts do you have?

I just was looking at my Vanguard account, and found that I have 13 Vanguard accounts (one with zero dollar balance) plus 2 outside investment accounts, for a total of 15 line items in my Vanguard account. I've not migrated to the new platform, so my brokerage and mutual fund accounts are separate e...
by miamivice
Tue May 31, 2016 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance question - not at fault claims & CLUE report
Replies: 5
Views: 758

Re: Insurance question - not at fault claims & CLUE report

Auto and property clue reports are separate
Filing against his auto certainly won't affect your homeowners and would unlikely affect your auto. If they do, change in companies. I would not pay out of pocket.
by miamivice
Fri May 27, 2016 11:23 am
Forum: Personal Finance (Not Investing)
Topic: How to respond to contractor's demands?
Replies: 17
Views: 3269

Re: How to respond to contractor's demands?

Wait a minute. You hired contract firm #1, who had an employee leave and form contract firm #2, who did shoddy work. You then agreed to sell the house to your friend/acquitance, who also knows contract firm #2. Then he hires an employee of contract firm #2 to do an inspection as a side job, who like...
by miamivice
Fri May 27, 2016 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Pride in no inheritance to kids?
Replies: 233
Views: 5848

Re: Pride in no inheritance to kids?

If you decide to leave an inheritance, would you split it equally among your kids? Let's say you are a surviving spouse with two kids. One lives far way and you see him/her every couple of years. The other spends half his/her time with you in your old age. The second one was the reason you were abl...
by miamivice
Wed May 25, 2016 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: How to handle real estate commission if I bring the buyer to table?
Replies: 3
Views: 655

Re: How to handle real estate commission if I bring the buyer to table?

You can forgo using an agent to sell the house if you don't need their services, which you probably don't if you already have a buyer. While it's not on-topic, my personal opinion is that I would never sell a house to a co-worker. The difficulties in dealing with negotiations would probably create i...
by miamivice
Wed May 25, 2016 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Professional Liability Insurance
Replies: 9
Views: 1047

Re: Professional Liability Insurance

I'm very confused about how a person becomes personally liable for an error made in the course of employment and then how they are supposed to insure themselves against that risk. Some examples: Employee makes a mistake in the line of work regarding a blowout valve for a deep sea oil well. Oil rig b...
by miamivice
Wed May 25, 2016 2:25 pm
Forum: Personal Consumer Issues
Topic: How much do you spend on trips/vacations?
Replies: 74
Views: 7045

Re: How much do you spend on trips/vacations?

This is a meaningless topic, as travel tastes (regarding expenses) and income are often two very separate issues for families. Most families can maybe $5,000 on a nice family vacation (in the US). International vacations are much more expensive, but most families don't take international vacations ...
by miamivice
Tue May 24, 2016 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Pride in no inheritance to kids?
Replies: 233
Views: 5848

Re: Pride in no inheritance to kids?

I haven't read all of the posts, but a couple of comments. First of all, most inheritance (I am speculating, but thinking it's about right) is transferred to children when they are 50. Some perhaps receive it in their fourties, some receive it in their sixties, but a lot of inheritance transfer take...
by miamivice
Tue May 24, 2016 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: Reality check - how am I doing
Replies: 63
Views: 8751

Re: Reality check - how am I doing

Ok, I'll bite. Lifetime spending as a percent of income is around 30%. (Per IRS site) In other words, my lifetime earnings is somewhere is in the neighborhood of $2 million dollars. Of course social security website does not reflect unrealized gains, and nonreportable income.
by miamivice
Tue May 24, 2016 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Reality check - how am I doing
Replies: 63
Views: 8751

Re: Reality check - how am I doing

If you're not concerned, then why are you posting a question asking how you are doing on this board? More to life than retirement planning. You don't have to track every penny, but do you know how much you spend each year to the nearest twenty thousand? Yeah, I know how much of that I spend. Much o...
by miamivice
Tue May 24, 2016 3:49 pm
Forum: Personal Consumer Issues
Topic: How much do you spend on trips/vacations?
Replies: 74
Views: 7045

Re: How much do you spend on trips/vacations?

This is a meaningless topic, as travel tastes (regarding expenses) and income are often two very separate issues for families. Most families can maybe $5,000 on a nice family vacation (in the US). International vacations are much more expensive, but most families don't take international vacations e...
by miamivice
Sun May 22, 2016 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Buying land in West
Replies: 30
Views: 3259

Re: Buying land in West

Would like to diversify a bit from just stocks, bonds, cash. My thought is to buy land real estate that might appreciate over the years. Plus would like to use the real estate as a summer place for my family. Anyway my idea is to look for something in North Dakota or Momtana. Does anyone have any e...
by miamivice
Sat May 21, 2016 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Rebuilding our house for $1.5M: Bad Idea Financially?
Replies: 91
Views: 9993

Re: Rebuilding our house for $1.5M: Bad Idea Financially?

I think this is the best advice that I can give with your situation. I really don't know enough about the housing market in your area to suggest whether upgrading a $1.5 million house into a $3.2 million house is a good idea. I also don't know enough about your compensation package, your employer, y...
by miamivice
Fri May 20, 2016 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Reality check - how am I doing
Replies: 63
Views: 8751

Re: Reality check - how am I doing

Couple comments: 1) The folks taking vacations that I notice are school teachers (summer off, let's go to Hawaii and Disney Land this summer), unemployed constructions workers, and marketing employees for tourist attractions. I personally do not know doctors or attorneys or folks with multimillion ...
by miamivice
Fri May 20, 2016 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Rebuilding our house for $1.5M: Bad Idea Financially?
Replies: 91
Views: 9993

Re: Rebuilding our house for $1.5M: Bad Idea Financially?

I'm really puzzled on your numbers. Your title says rebuild for $1.5mm while in the body of your post it says $3.2mm. Either way, that's a huge sum of money since you already own the land. You allude to it being an expensive area, and while I understand costs are up for everything in expensive areas...