Most people on this board are happy with a w-2 salary and passive investing in stock and bond index funds so you probably will not find many who approve in real estate investing as a business.
If you think you have a solid plan, you should follow it and not listen to anyone else.
There will always be naysayers and those who think your plan is impossible.
Search found 769 matches
- Sun Feb 21, 2016 1:06 pm
- Forum: Personal Finance (Not Investing)
- Topic: VTI vs Starting my own REIT
- Replies: 52
- Views: 6167
- Sat Feb 13, 2016 4:54 pm
- Forum: Investing - Theory, News & General
- Topic: Watched Madoff:Considering Stuffing the Mattress
- Replies: 19
- Views: 3802
Re: Watched Madoff:Considering Stuffing the Mattress
In that case, don't watch the "The Big Short". Madoff was small-time.
- Mon Feb 08, 2016 1:58 am
- Forum: Investing - Theory, News & General
- Topic: Why Invest in an International Index Fund?
- Replies: 12
- Views: 2565
Re: Why Invest in an International Index Fund?
Timing isn't necessary just create an asset allocation and stick to it.visualguy wrote:Would love to, but market timing is hard!expat wrote: Buy low, sell high.
- Mon Feb 08, 2016 1:41 am
- Forum: Investing - Theory, News & General
- Topic: Why Invest in an International Index Fund?
- Replies: 12
- Views: 2565
Re: Why Invest in an International Index Fund?
Buy low, sell high.so what's the point again?
- Sun Jan 24, 2016 12:43 pm
- Forum: Personal Investments
- Topic: Think my future father in law is giving the wrong advice to my fiance..what should i do?
- Replies: 111
- Views: 13959
Re: Think my future father in law is giving the wrong advice to my fiance..what should i do?
She is an adult and she should be managing her own retirement account.
- Tue Jan 05, 2016 1:33 pm
- Forum: Personal Finance (Not Investing)
- Topic: When to leave day job
- Replies: 38
- Views: 5460
Re: When to leave day job
The time to leave your day job is when it starts to interfere with realizing the potential of your side business i.e. when the opportunity cost of spending time at work becomes too great
I would also recommend the book "The 4 hour work week".
I would also recommend the book "The 4 hour work week".
- Thu Dec 31, 2015 2:06 pm
- Forum: Personal Investments
- Topic: Roll Call for Tax-Loss Harvesting Class of 2015
- Replies: 62
- Views: 5973
Re: Roll Call for Tax-Loss Harvesting Class of 2015
I TLH'd in 2009 and have not had to do it again because of the bull market.
- Mon Dec 28, 2015 1:07 pm
- Forum: Personal Investments
- Topic: To dump a loser stock or not?
- Replies: 20
- Views: 2447
Re: To dump a loser stock or not?
Buy low and sell high.
- Sat Dec 19, 2015 2:04 pm
- Forum: Personal Consumer Issues
- Topic: Christmas Time : How to not appear rude
- Replies: 67
- Views: 11340
Re: Christmas Time : How to not appear rude
Don't look a gift horse in the mouth.
- Fri Dec 18, 2015 3:07 pm
- Forum: Personal Investments
- Topic: American UN employee confused about Roth options
- Replies: 4
- Views: 712
Re: American UN employee confused about Roth options
I don't think you have this right. Your UN income is still part of your taxable income and therefore used to figure out taxes on the conversion.What makes this interesting is that if I'm only paying the taxes on my non-UN income, then I (I think) can convert my SEP IRA to a Roth and only count my non-UN income when figuring out the taxes on the conversion. (I have consulting income from this year too).
Also, the amount they reimburse you will itself be part of your taxable income. If you receive it in 2016, then it would be included in your taxable income for 2016.The UN then pays the IRS (and state and local govt) the difference between those two tax determinations
- Tue Dec 15, 2015 5:12 pm
- Forum: Personal Investments
- Topic: Self-employed SEP IRA + Employer 401(k)?
- Replies: 11
- Views: 1442
Re: Self-employed SEP IRA + Employer 401(k)?
I believe you can do this in your situation.
Your SEP + Employer's 401(k) + Roth = 20% of net business profit as employer contribution (max 53K) + 18K + 5500
Your SEP + Employer's 401(k) + Roth = 20% of net business profit as employer contribution (max 53K) + 18K + 5500
- Tue Dec 15, 2015 11:47 am
- Forum: Personal Investments
- Topic: VTIAX having a terrible year [Vanguard Total International Stock Admiral]
- Replies: 24
- Views: 4898
Re: VTIAX having a terrible year [Vanguard Total International Stock Admiral]
Dec. 10, 2001: Warren Buffett on the stock market
“To refer to a personal taste of mine, I’m going to buy hamburgers the rest of my life. When hamburgers go down in price, we sing the ‘Hallelujah Chorus’ in the Buffett household. When hamburgers go up in price, we weep. For most people, it’s the same with everything in life they will be buying — except stocks. When stocks go down and you can get more for your money, people don’t like them anymore.”
“To refer to a personal taste of mine, I’m going to buy hamburgers the rest of my life. When hamburgers go down in price, we sing the ‘Hallelujah Chorus’ in the Buffett household. When hamburgers go up in price, we weep. For most people, it’s the same with everything in life they will be buying — except stocks. When stocks go down and you can get more for your money, people don’t like them anymore.”
- Mon Dec 14, 2015 1:39 pm
- Forum: Personal Investments
- Topic: Desperately need advice - sold business, what now?
- Replies: 17
- Views: 2546
Re: Desperately need advice - sold business, what now?
There is hardly any inflation right now and if there is deflation, cash would generate real return.And it is hard to find somewhere to put cash that will keep up with inflation.
- Sun Dec 06, 2015 11:33 pm
- Forum: Personal Finance (Not Investing)
- Topic: Trustee now executor--Bank trust department
- Replies: 5
- Views: 794
Re: Trustee now executor--Bank trust department
>> I have yet to see the will or the trust document.
Have you requested them? You have the right to see both of these.
Have you requested them? You have the right to see both of these.
- Tue Dec 01, 2015 4:58 pm
- Forum: Personal Finance (Not Investing)
- Topic: Real Estate Advice - Primary Residence/1031 Exchange
- Replies: 4
- Views: 1020
Re: Real Estate Advice - Primary Residence/1031 Exchange
>> Is there any other scenario where I could better shelter the profits?
Yes, the sale of a primary residence automatically gets an exclusion (up to a limit) from federal capital gains.
Yes, the sale of a primary residence automatically gets an exclusion (up to a limit) from federal capital gains.
- Tue Oct 27, 2015 4:51 pm
- Forum: Personal Finance (Not Investing)
- Topic: Walk away from inheritance?
- Replies: 54
- Views: 10380
Re: Walk away from inheritance?
(responding to expat): On the contrary, I think hiring a lawyer, as a CONSULTANT, may be a good idea. Again, the situation as presented by the OP here is rather confused. Perhaps the OP has a better sense of it in his own mind, perhaps not. But OP and his wife would probably benefit from a consultation with someone with whom he could lay out all the facts, and get some guidance on many aspects of the situation - legal, tax, business/investment, and personal/life planning. There may not be any ONE individual who wears all those hats who OP can readily consult. Again, depending to some extent on some of the specifics not disclosed here, I'd probably start with a CPA or a lawyer (or maybe a firm that can bring both of these together. Get an u...
- Tue Oct 27, 2015 3:47 pm
- Forum: Personal Finance (Not Investing)
- Topic: Walk away from inheritance?
- Replies: 54
- Views: 10380
Re: Walk away from inheritance?
Don't hire a lawyer unless you are prepared to create a permanent rift in the family. If a lawyer gets involved, it will make it much worse.
Instead, you need a mediator or therapist who can help you communicate and get what you want from the controlling sibling.
Instead, you need a mediator or therapist who can help you communicate and get what you want from the controlling sibling.
- Sun Oct 25, 2015 4:34 pm
- Forum: Personal Finance (Not Investing)
- Topic: Son had [bicycle] accident [- how to handle claim against him]
- Replies: 68
- Views: 7969
Re: Son had accident while on a shared bicycle
The insurance company is responsible for making the car owner whole.TheTimeLord wrote:+100. The rest just seems to be inflicting more damage on the injured party.letsgobobby wrote:Your son caused the damage, he is responsible for making the car owner whole.
If the son pays the claim, he will be making the insurance company whole.
- Sun Oct 25, 2015 1:49 pm
- Forum: Personal Finance (Not Investing)
- Topic: Son had [bicycle] accident [- how to handle claim against him]
- Replies: 68
- Views: 7969
Re: Son had [bicycle] accident [- how to handle claim against him]
>> 3) Do nothing and wait for them to sue?
Wait 6 months and then offer them what, if anything, you think is fair.
And your son should let them know he is a student with no assets i.e. they have no chance of collecting a judgement if they were to sue which they aren't going to do anyway.
Wait 6 months and then offer them what, if anything, you think is fair.
And your son should let them know he is a student with no assets i.e. they have no chance of collecting a judgement if they were to sue which they aren't going to do anyway.
- Sun Oct 18, 2015 12:17 pm
- Forum: Personal Finance (Not Investing)
- Topic: Potential estate dispute - relevant experiences?
- Replies: 23
- Views: 4162
Re: Potential estate dispute - relevant experiences?
I would not let it drag out whatever you do. If necessary, I would file a partition action to get it over with as quickly as possible.
- Fri Oct 16, 2015 11:19 am
- Forum: Personal Consumer Issues
- Topic: Is The Bay Area Worth It?
- Replies: 159
- Views: 30023
Re: Is The Bay Area Worth It?
If you are in a good situation now, no, it's not worth it. The fact that they are having to relocate workers here means it is getting overheated. Eventually, the job and housing markets will bust and you will have to deal with the consequences.So overall, we got it pretty good where we are at.
- Tue Oct 13, 2015 12:19 pm
- Forum: Personal Finance (Not Investing)
- Topic: Military Retirement; "Should I stay or should I go now?"
- Replies: 61
- Views: 17992
Re: Military Retirement; "Should I stay or should I go now?"
A family member retired after 20 years in the military. He was completely lost, without purpose, and his pension did not cover his living expenses. He ended up in law enforcement. If you like, or can at least tolerate the military, I would stay at least until the kids are grown.
- Sat Oct 10, 2015 5:21 pm
- Forum: Personal Consumer Issues
- Topic: Thinking of quitting job for a year of travel
- Replies: 59
- Views: 7984
Re: Thinking of quitting job for a year of travel
If front-end software development means HTML, CSS, Javascript, I think even an average developer could easily find work at any given time. Just my opinion.tibbitts wrote:The "if you are good" part is the key, but I think you really mean "outstanding." Everybody else is pretty easily replaced.expat wrote:Considering your field, if you are good, I would say there is zero risk of being jobless on your return. In fact, the challenge may be how to stay unemployed during your travels. You can develop for clients remotely anywhere.I do understand there is quite a bit of risk in what I am doing, and I could potentially come back jobless.
- Sat Oct 10, 2015 4:57 pm
- Forum: Personal Consumer Issues
- Topic: Thinking of quitting job for a year of travel
- Replies: 59
- Views: 7984
Re: Thinking of quitting job for a year of travel
Considering your field, if you are good, I would say there is zero risk of being jobless on your return. In fact, the challenge may be how to stay unemployed during your travels. You can develop for clients remotely anywhere.I do understand there is quite a bit of risk in what I am doing, and I could potentially come back jobless.
- Sat Oct 10, 2015 3:08 pm
- Forum: Personal Consumer Issues
- Topic: Thinking of quitting job for a year of travel
- Replies: 59
- Views: 7984
Re: Thinking of quitting job for a year of travel
I did it in my 20s. I ignored the naysayers at the time who said there would be some terrible consequence for leaving a good job. It never happened.
It won't be the same when you are older and you may not be able to as easily.
It won't be the same when you are older and you may not be able to as easily.
- Sat Aug 22, 2015 12:26 pm
- Forum: Personal Finance (Not Investing)
- Topic: Independent Contractor Tax Rate
- Replies: 5
- Views: 1028
Re: Independent Contractor Tax Rate
The rate I use is my effective tax rate from the previous year.
- Fri Aug 14, 2015 3:19 pm
- Forum: Personal Investments
- Topic: Hows This Early Retirement Plan
- Replies: 13
- Views: 2160
Re: Hows This Early Retirement Plan
I believe the sum total of these is limited to 53K.SEP IRA - 53K a year (For however long I have my side business)
401K Pre-Tax - 18K (Or Max Amount by IRS in future - Employer Matches %50 no limit)
- Sun Aug 09, 2015 11:57 am
- Forum: Investing - Theory, News & General
- Topic: 3 Reasons to Rejoice Higher Interest Rates
- Replies: 54
- Views: 9938
Re: 3 Reasons to Rejoice Higher Interest Rates
With inflation so low, they are going to raise interest rates?
http://www.usinflationcalculator.com/in ... ion-rates/The latest inflation rate for the United States is 0.1% through the 12 months ended June 2015 as published by the US government on July 17, 2015. The next update is scheduled for release on August 19, 2015 at 8:30 a.m. ET. It will offer the rate of inflation over the 12 months ended July 2015.
- Tue Jun 09, 2015 3:55 pm
- Forum: Personal Finance (Not Investing)
- Topic: Buying in Bay Area (redux)
- Replies: 72
- Views: 13396
Re: Buying in Bay Area (redux)
As part of any bubble, your friends will be buying and telling you what a great deal it is and how you are missing out.
You won't hear from them when the bubble bursts.
You won't hear from them when the bubble bursts.
- Thu Apr 09, 2015 5:35 pm
- Forum: Personal Finance (Not Investing)
- Topic: Am I justified in being angry with executor?
- Replies: 22
- Views: 4660
Re: Am I justified in being angry with executor?
You need to hire to a trusts and estates lawyer and have them start communicating on your behalf.aprilcpa wrote: I don't want to talk to the executor because every time I do, he lies to me. He will tell us he will do something but never does it. It's a waste of my time to communicate with him and his paralegal is just as bad. If there was any way to get this out of his hands now, I would.
- Thu Apr 09, 2015 4:31 pm
- Forum: Personal Finance (Not Investing)
- Topic: Am I justified in being angry with executor?
- Replies: 22
- Views: 4660
Re: Am I justified in being angry with executor?
It sounds like the executor is doing a poor job of communicating with you.aprilcpa wrote:I have asked when the estate can be closed and he tells me they are working on it.
He is not giving you enough information.
He should be providing you with specific reasons why the estate isn't closed and what step they are on.
- Wed Apr 08, 2015 12:10 pm
- Forum: Personal Consumer Issues
- Topic: Updated from 2015: Vehicle Suggestions with 3 Kids
- Replies: 45
- Views: 11577
Re: Vehicle Suggestions with 3 Kids
I'm fighting it.Lincoln wrote:Don't fight it, the only logical choice is a minivan...
RAV4 and even a Corolla work just fine for transporting 3 kids around town.
I recently rented a Nissan Sentra recently and there was enough room and plenty of truck space.
For long road trips, I occasionally rent a minivan if the price is right.
- Wed Apr 08, 2015 12:24 am
- Forum: Personal Finance (Not Investing)
- Topic: When to give adult children their inheritance?
- Replies: 57
- Views: 14618
Re: When to give adult children their inheritance?
Who would be the trustee? They will be taking fees all those years.
I say that let the young have the wealth immediately.
If they lose it, they will have learned a lesson and will probably have the time to rebuild a sufficient retirement fund.
I say that let the young have the wealth immediately.
If they lose it, they will have learned a lesson and will probably have the time to rebuild a sufficient retirement fund.
- Wed Apr 08, 2015 12:05 am
- Forum: Personal Finance (Not Investing)
- Topic: Nailed it! $223,199/yr: magic# for making it in SF Bay Area
- Replies: 117
- Views: 20768
Re: Nailed it! $223,199/yr: magic# for making it in SF Bay A
Rent and wait for the next housing crash.
- Sun Apr 05, 2015 11:54 pm
- Forum: Personal Consumer Issues
- Topic: Help/advice with Europe trip (France+/-Greece)
- Replies: 22
- Views: 2683
Re: Help/advice with Europe trip (France+/-Greece)
If it is your first time to Paris, I would spend the entire trip there.
But, for a few days at the beach, I would skip Greece and instead take the TGV, which you can take from the center of Paris, to southern France for a few days in September to avoid the high season.
But, for a few days at the beach, I would skip Greece and instead take the TGV, which you can take from the center of Paris, to southern France for a few days in September to avoid the high season.
- Thu Apr 02, 2015 6:31 pm
- Forum: Personal Finance (Not Investing)
- Topic: Transferring wealth loophole
- Replies: 17
- Views: 3918
Re: Transferring wealth loophole
Trying to find a loophole is not dishonest.LadyGeek wrote:Discussions of dishonest behavior or bypassing the law are totally unacceptable.
The OP's question has been answered. This thread has run its course and is locked.
Thread unlocked, see below.
A backdoor Roth IRA is a loophole.
- Thu Apr 02, 2015 11:38 am
- Forum: Personal Finance (Not Investing)
- Topic: Implications of Marriage - she with debt and low income (WI)
- Replies: 71
- Views: 10928
Re: Implications of Marriage - she with debt and low income
Why do you want to get married?
- Thu Mar 12, 2015 7:09 pm
- Forum: Personal Consumer Issues
- Topic: $600 night guard for teeth grinding, really?
- Replies: 92
- Views: 37175
Re: $600 night guard for teeth grinding, really?
I use a $40 OTC nightguard and prefer it to the $400 custom made one.
- Mon Mar 02, 2015 1:23 pm
- Forum: Personal Investments
- Topic: Help- I keep investing my emergency fund in the stock market
- Replies: 18
- Views: 3294
Re: Help- I keep investing my emergency fund in the stock ma
Sounds like they don't have an asset allocation to me.spectec wrote:Sounds like you've fond an AA that you're comfortable with.
- Mon Feb 02, 2015 11:58 am
- Forum: Personal Finance (Not Investing)
- Topic: How to fire a client? [software ownership issues]
- Replies: 69
- Views: 7629
Re: How to fire a client? [software ownership issues]
IMO, you are over-thinking this.
Hand over the source code and then say you are too busy.
Hand over the source code and then say you are too busy.
- Tue Dec 30, 2014 2:07 am
- Forum: Personal Finance (Not Investing)
- Topic: Should I do a 25 year refinance?
- Replies: 13
- Views: 1508
Re: Should I do a 25 year refinance?
You're right.Petunia wrote:The calculator at bank rate says a 410k mortgage fixed at 5% for 30 years has a principal and interest payment of $2,200.97.
I say again, something is off with your numbers.
This
2029= 454 +1575
should have read
2215= 640 +1575
454 was the escrow amount that I mistook for principal.
Thanks to all for helping on this.
- Mon Dec 29, 2014 4:50 pm
- Forum: Personal Finance (Not Investing)
- Topic: Should I do a 25 year refinance?
- Replies: 13
- Views: 1508
Re: Should I do a 25 year refinance?
This seems like a no brainer to me. Your mortgage would be paid off at the same time it is currently and you will pay less interest. I would keep paying your current payment of $2,029 as well, which would send $8 extra to principal each month. I can't see any especially since my mortgage interest if fully tax deductible. You're still paying the mortgage interest even though it is tax deductible. Why should you pay any more interest than you need to? Because you end up with more money in 25 years? You pay the same and get a bigger tax write off. Frankly this math makes zero sense. They have to be really jacking up your balance some how to have a 1℅ rate drop not result in lower payments. Was 378k your original mortgage size or is it your cu...
- Mon Dec 29, 2014 3:40 pm
- Forum: Personal Finance (Not Investing)
- Topic: Should I do a 25 year refinance?
- Replies: 13
- Views: 1508
Should I do a 25 year refinance?
My mortgage lender has offered to do a no cost refinance of my principal residence : 378K over 25 years at 4.125%
I am currently 5 years into a 30 year loan at 5%.
I just realized the refinance does not significantly lower my monthly payment at all - see schedule below - I just pay more principal and less interest.
30 year (latest payment in amortization schedule)
Payment Principal Interest Paid
2029= 454 +1575
25 Year (first payment in amortization schedule)
Payment Principal Interest Paid
2021= 722 +1299
My question is : is there any benefit in doing this refinance?
I can't see any especially since my mortgage interest if fully tax deductible.
Does the bank have some incentive to offer this?
I am currently 5 years into a 30 year loan at 5%.
I just realized the refinance does not significantly lower my monthly payment at all - see schedule below - I just pay more principal and less interest.
30 year (latest payment in amortization schedule)
Payment Principal Interest Paid
2029= 454 +1575
25 Year (first payment in amortization schedule)
Payment Principal Interest Paid
2021= 722 +1299
My question is : is there any benefit in doing this refinance?
I can't see any especially since my mortgage interest if fully tax deductible.
Does the bank have some incentive to offer this?
- Tue Dec 16, 2014 12:13 pm
- Forum: Personal Consumer Issues
- Topic: WHY is retirement enjoyable / something to look forward to?
- Replies: 237
- Views: 29182
Re: WHY is retirement enjoyable / something to look forward
No one has to do a job they don't like.MikeWillRetire wrote:Many jobs are mundane, back breaking, dirty, stressful, dangerous, demeaning, etc.expat wrote:If you can't wait to retire, you are in the wrong line of work.
Somebody has to do those jobs, and they look forward to retirement.
- Tue Dec 16, 2014 11:06 am
- Forum: Personal Consumer Issues
- Topic: WHY is retirement enjoyable / something to look forward to?
- Replies: 237
- Views: 29182
Re: WHY is retirement enjoyable / something to look forward
If you can't wait to retire, you are in the wrong line of work.
- Mon Dec 15, 2014 12:26 am
- Forum: Personal Finance (Not Investing)
- Topic: buying apartment in France
- Replies: 14
- Views: 4226
Re: buying apartment in France
I have bought auto, school (it exists) and renter's insurance in France. No question was ever raised in terms of when I arrived in the country or when I would leave.
Also, in France, if the plumbing in your apartment floods the neighbor(s) below, you and your insurance are responsible for the damage. For this reason, renter's insurance is mandatory.
Also, in France, if the plumbing in your apartment floods the neighbor(s) below, you and your insurance are responsible for the damage. For this reason, renter's insurance is mandatory.
- Sat Dec 13, 2014 12:25 am
- Forum: Personal Finance (Not Investing)
- Topic: Deductions!
- Replies: 31
- Views: 3500
Re: Deductions!
You're only paying 28% on the part over $89,350.g$$ wrote:
Seems like I've finally made the transition to the 28% federal tax bracket . If you've got any suggestions for year-end deductions, please feel free to post them here.
-g$$
(92,250-89,350) * (.28-.25) = $87.00 more in taxes
- Wed Nov 26, 2014 11:12 am
- Forum: Personal Investments
- Topic: Why should I avoid REITs?
- Replies: 59
- Views: 12672
Re: Why should I avoid REITs?
On the subject of avoiding volatile asset classes, the Dow Jones Industrial average dropped 89 percent in the bear market of 1929-1932.
- Mon Nov 03, 2014 1:20 pm
- Forum: Personal Investments
- Topic: Should I bite the bullet and sell my mining stocks?
- Replies: 23
- Views: 3454
Re: Should I bite the bullet and sell my mining stocks?
You should bite the bullet and buy more - up to the percentage specified in your IPS for that asset class.
- Thu Oct 23, 2014 2:41 pm
- Forum: Personal Consumer Issues
- Topic: Do you regret buying your home?
- Replies: 82
- Views: 26102
Re: Do you regret buying your home?
Owning home is like having an unpaid part-time job working for the bank maintaining their investment. When the mortgage is paid, you get a house that is 30 years older and in need of more repair.