Search found 1210 matches

by Independent George
Wed Apr 14, 2021 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: "Nobody's ever regretted paying off the mortgage."
Replies: 291
Views: 18372

Re: "Nobody's ever regretted paying off the mortgage."

The younger you are, the more it makes sense to borrow on your mortgage to save/invest more in your retirement accounts. There is a higher probability that you will sell your home in the next 10 years (whether it's due to a growing family, a desire for a better school district, or possibly a job opp...
by Independent George
Wed Apr 14, 2021 10:22 am
Forum: Personal Finance (Not Investing)
Topic: W-4 error, had single filing status not married
Replies: 7
Views: 618

Re: W-4 error, had single filing status not married

Not a problem; had the error gone the other way, you might have been at risk for an under-withholding penalty, but you're fine as-is. You might even want to consider under-withholding for a pay cycle or two to even it out. Regardless, the default withholding amounts tend to be inaccurate to begin wi...
by Independent George
Tue Apr 13, 2021 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage application denied due to large 401k contribution?s
Replies: 27
Views: 2173

Re: Mortgage application denied due to large 401k contribution?s

Hello, I just learned that my mortgage application has been denied because my 401k contributions have brought my AGI, and therefore my debt-to-income ration to 90% (aside from the mortgage, est. $750/month, my debt was a $60 credit card balance). The past 2 years I've had ~68k gross income and ~14k...
by Independent George
Tue Apr 13, 2021 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Do budgets work?
Replies: 122
Views: 4849

Re: Do budgets work?

This morning, I read a Tweet I found depressing: "In 13 years as a financial advisor, I've never seen anyone actually turn their life around with a budget. They either earn their way out of their spending habits, or they are in debt forever." Do you agree? That seems like and adverse sele...
by Independent George
Fri Apr 09, 2021 10:44 pm
Forum: Investing - Theory, News & General
Topic: who here is tempted to pullback on stocks?
Replies: 238
Views: 47059

Re: who here is tempted to pullback on stocks?

To answer the original question, yes, I do think about de-risking at some point. However, this is a function of personal net worth rather than market prices. The market going up so rapidly has surely brought a lot of people closer to their ultimate financial goals. So, we have much more to lose by ...
by Independent George
Fri Apr 09, 2021 2:47 pm
Forum: Personal Consumer Issues
Topic: Housing circumstances
Replies: 44
Views: 2629

Re: Housing circumstances

well, they are living with you now, and they will be living with you after you move. so there's your plan. Except they keep saying "Maybe only for a year or two";) Based on this (and your followup posts), I think that means they're staying, but just can't say so outright because of a cult...
by Independent George
Fri Apr 09, 2021 8:35 am
Forum: Personal Consumer Issues
Topic: Housing circumstances
Replies: 44
Views: 2629

Re: Housing circumstances

Can you rent a larger house until things are decided one way or another? How much would that cost compared to renting two small homes? I would not want to commit to buying until I knew for certain what you would be doing. At your combined salaries, you should still be able to save around 40k in cash...
by Independent George
Thu Apr 08, 2021 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: Vote: House or keep buying taxable mutual funds?
Replies: 14
Views: 1037

Re: Vote: House or keep buying taxable mutual funds?

The best answer: it depends. Besides the obvious comparison of PITA (less tax * itemized deductions minus standard deduction) vs rent + renters insurance, there are other factors to consider. If you were to buy a house, where would it be? How long of a commute would it be to where you work? How many...
by Independent George
Thu Apr 08, 2021 11:03 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 14613
Views: 1122118

Re: U.S. stocks continue to soar!

I have a confession to make: I panicked yesterday because of these all time highs. Liquidated my entire 401k, including my “fun money” positions, and put it all back into Wellesley, which is where it all was until about 9 months ago. Now I don’t need to watch it gyrate. So you sold it out of one al...
by Independent George
Tue Apr 06, 2021 5:39 pm
Forum: Investing - Theory, News & General
Topic: De-risking, inflation and forward risk tolerance
Replies: 21
Views: 1512

De-risking, inflation and forward risk tolerance

I turned 44 this year. Looking back over the last 20+ years, I've been able to handle market risk without undue worry, at least partly because I've always held on to a substantial cash reserve to get me through tough times. On the other hand, I've never experienced a period of high inflation. I tech...
by Independent George
Fri Apr 02, 2021 7:19 pm
Forum: Personal Consumer Issues
Topic: Best nonstick pans?
Replies: 65
Views: 5170

Re: Best nonstick pans?

The thing about non-stick coatings - high heat damages it over time. So, I'm not sure you should be doing stir fry in a "non-stick" pan... the repeated use of high heat will cause the pan to 'wear out' sooner. Just pointing that out... I missed that part of the OP - yeah, that is definite...
by Independent George
Fri Apr 02, 2021 7:16 pm
Forum: Personal Consumer Issues
Topic: Best nonstick pans?
Replies: 65
Views: 5170

Re: Best nonstick pans?

T-Fal Titanium . This is the first nonstick pan I've had that has managed to remain without a scratch for over a year. I do my best to take care of it, but I make omelettes pretty often and the pan has seen heavy use, and it's lasted far better than any other nonstick pan I've used. Also: ignore wh...
by Independent George
Tue Mar 30, 2021 10:38 am
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 2292
Views: 272351

Re: Paid Off Our Mortgage!!

We wiped out the rest of our mortgage this week. Feels great and just wanted to share with the community as I plan on keeping this relatively quiet in my personal life. Wife and I never made over 120k combined HHI, 35/34 year old electrician and x-ray tech with two kids. Low cost of living state wi...
by Independent George
Sun Mar 28, 2021 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10218
Views: 734219

Re: Refinance Mega Thread

Honestly, that sounds like an awful deal. You should be able to refinance into a 15 year at around 2.375% or at the very worst 2.5% with it costing you nothing, so you break even immediately. You're not going to get the 1.875% and 2% deals, netting you $2500 at closing like some of us did a couple ...
by Independent George
Sun Mar 28, 2021 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10218
Views: 734219

Re: Refinance Mega Thread

My current bank offered me a new (re-cast) 15y mortgage at 2.805%, no lender fees. I still have to pay for title insurance, which seems ridiculous given that I've lived here since 2007 and I'm refinancing through the same bank, but it is what it is; I should break even in 15 months. The loan is bein...
by Independent George
Sat Mar 27, 2021 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: Home equity loan or cash out refinance!
Replies: 10
Views: 499

Re: Home equity loan or cash out refinance!

Mathematically, it makes sense to take out a 2.8% and invest it; in practical terms, I would not ever voluntarily go back into debt once I was out of it. With a $300k income and no mortgage payment, why not just invest your excess income each month? Taking out a loan just increases your risk for ver...
by Independent George
Fri Mar 26, 2021 3:19 pm
Forum: Personal Consumer Issues
Topic: Dog DNA Test
Replies: 49
Views: 4332

Re: Dog DNA Test

The utility of the dog DNA test is exactly the same as for human DNA tests: 99% entertainment, 1% for contributing to aggregate genetic data which might one day be medically useful someday. I used Wisdom Panel for my dog, and the results came back as primarily as 'Canaan Dog' - which is basically a ...
by Independent George
Wed Mar 24, 2021 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: What is an average retirement a/c worth in America ?
Replies: 228
Views: 22386

Re: What is an average retirement a/c worth in America ?

25 times annual expenses is one good rule of thumb. I've heard some folks advise 30x. Finance gurus like Dave Ramsey advises 10 times annual income. Is he selling a magical fantasy number to people that would be hopelessly discouraged 25x expenses? Or is 10X a mental tipping point that gets most pe...
by Independent George
Wed Mar 24, 2021 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: What is an average retirement a/c worth in America ?
Replies: 228
Views: 22386

Re: What is an average retirement a/c worth in America ?

LateStarter1975 wrote: Wed Mar 24, 2021 1:38 pm
finite_difference wrote: Wed Mar 24, 2021 12:02 am My NW was basically 0 until 29. And that’s only because my parents paid for college.
My NW was negative $30,000 at age 35! I'm 46 now and I'm not complaining.
I went from $145k at age 30 (2007), to -$15k at 31 (2008). I never want to go into negative numbers ever again.
by Independent George
Tue Mar 23, 2021 11:11 pm
Forum: Personal Finance (Not Investing)
Topic: What is an average retirement a/c worth in America ?
Replies: 228
Views: 22386

Re: What is an average retirement a/c worth in America ?

I'm looking for some reassurance, and to better manage my expectations. My family's networth is less than a million (not counting my daughter's Coverdell). I see posts here from people in their 30s with 1.5 million in investments, people in their 20s with 6 figures in assets etc, "windfalls&qu...
by Independent George
Sat Mar 20, 2021 6:48 pm
Forum: Personal Consumer Issues
Topic: Romaine Lettuce & bagged salads - concerns
Replies: 45
Views: 4379

Re: Romaine Lettuce & bagged salads - concerns

Do people seriously eat vegetables without washing them?
by Independent George
Wed Mar 17, 2021 5:34 pm
Forum: Personal Consumer Issues
Topic: PC Build Thread - 2020... and beyond!!!
Replies: 516
Views: 35051

Re: PC Build Thread - 2020... and beyond!!!

Wow, I'm genuinely surprised by all the issues with the ASUS boards; they've historically made solid hardware, but that's a worrying large number of data points on the same product.
by Independent George
Wed Mar 17, 2021 5:26 pm
Forum: Personal Consumer Issues
Topic: Another laptop thread - value and photos
Replies: 28
Views: 1699

Re: Another laptop thread - value and photos

Don't overthink it: if you're replacing a Macbook, and you had no problems with it, just get another Macbook. Apple makes it easy to migrate your data from one machine to another, and there's no point in learning a new system when there's a perfectly good one right there in front of you. This is com...
by Independent George
Tue Mar 16, 2021 12:09 pm
Forum: Investing - Theory, News & General
Topic: Investing at the very top in 2000 has still made one 7% a year over the past 21 years
Replies: 148
Views: 12330

Re: Investing at the very top in 2000 has still made one 7% a year over the past 21 years

My favorite go to link regarding saving $200 a month and investing in the index illustrates the outcome for the trio of Sarah (invested every month for her entire working career), Brittany (only bought at market bottoms) and Tiffany (only bought at market tops)... https://imgur.com/gallery/BlK4jzM ...
by Independent George
Thu Mar 11, 2021 3:35 pm
Forum: Investing - Theory, News & General
Topic: American Rescue Plan Act of 2021 Signed
Replies: 72
Views: 8101

Re: American Rescue Plan Act of 2021 Signed

Can anyone confirm if the income phaseout is based on AGI, or on gross income? Also, is that based on 2019, or on 2020?
by Independent George
Mon Mar 08, 2021 8:26 pm
Forum: Personal Investments
Topic: Going to fixed investments to plan for equities correction
Replies: 12
Views: 1393

Re: Going to fixed investments to plan for equities correction

I am 80 years old and have a equities:fixed income split of about 80:20. Additionally, I hold real estate about equal in value to my financial assets. I can afford to lose 90% of my net worth and still not decrease my standard of living for well beyond my actuarial life expectancy. And about 90% of...
by Independent George
Mon Mar 08, 2021 11:22 am
Forum: Personal Finance (Not Investing)
Topic: 35 and thinking about early retirement or partial retirement
Replies: 131
Views: 13758

Re: 35 and thinking about early retirement or partial retirement

As others have noted, it's not a straight either/or proposition. You can work in another finance/accounting position outside of the big corporate environment, and will probably be happier while making similar (if not better) income. Or you can work part-time as a contractor and spend more time at ho...
by Independent George
Sun Feb 28, 2021 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off student loans vs investing
Replies: 51
Views: 1862

Re: Pay off student loans vs investing

It honestly sounds like you are trying to game the loan forgiveness terms despite earning more than enough to pay off your debts and save for retirement. It might be within the bounds of the agreement, but I find that about as ethical as serial bankruptcy filings, and don't agree with it regardless ...
by Independent George
Fri Feb 26, 2021 7:09 pm
Forum: Personal Consumer Issues
Topic: best wristwatch for the price
Replies: 184
Views: 17394

Re: best wristwatch for the price

LL Bean watches... dollar for dollar the best... I had one for 22 years and lost it surfing, current LL Bean classic easy to read watch-- I have been wearing for 28 years. I beat the heck out of them and they just keep working.Love them. Those old LL Bean Hamilton Khaki field watches from the 1980s...
by Independent George
Fri Feb 26, 2021 12:24 pm
Forum: Personal Consumer Issues
Topic: Unclogger-Drain Cleaner
Replies: 40
Views: 2531

Re: Unclogger-Drain Cleaner

Honestly, I've found a simple plunger clears out slow drains and stoppages better than chemical drain cleaners; I use those for regular maintenance. If you're feeling spendy, commercial properties often use a kinetic water ram.
by Independent George
Fri Feb 26, 2021 11:53 am
Forum: Personal Consumer Issues
Topic: best wristwatch for the price
Replies: 184
Views: 17394

Re: best wristwatch for the price

If you don't like the look of a Casio, or if you just want a more traditional-looking watch, my first choice is a Citizen's Eco-Drive. They are solar, but they don't have a charge level indicator, so you need to be careful about giving them enough daylight, especially during the winter months. They...
by Independent George
Thu Feb 25, 2021 5:26 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 22922
Views: 3007391

Re: U.S. stocks in free fall

Awww yeah - tomorrow's payday!
by Independent George
Mon Feb 22, 2021 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: too much in 401k may be forced to quit job
Replies: 183
Views: 16830

Re: too much in 401k may be forced to quit job

someone in administration at my place of employment spilled the beans about my 401k balance, newly appointed president of company angrily informed me, that my balance was highest in plan, way higher than all other participants. This situation is creating a lot of conflict with fellow employees, eve...
by Independent George
Mon Feb 22, 2021 3:38 pm
Forum: Investing - Theory, News & General
Topic: Nate Silver sums up trying to beat the market very well
Replies: 105
Views: 14310

Re: Nate Silver sums up trying to beat the market very well

eshkidd wrote: Mon Feb 22, 2021 2:18 pm What if you're a software tech employee with keen insights into trends, future tech, and vaporware?
Isn't that insider trading if you have material non-public knowledge about specific tech?
by Independent George
Sun Feb 21, 2021 6:42 pm
Forum: Investing - Theory, News & General
Topic: Asset Allocation & Inexperience During Bear Markets
Replies: 72
Views: 3236

Re: Asset Allocation & Inexperience During Bear Markets

I know lots of people ignore last March but in my mind it was a bear market just like any other. See what you did then and evaluate accordingly. One issue is that it was so short-lived that it gave many of us (including me) some 'false positive' signals about the length of bear markets and the quic...
by Independent George
Sun Feb 21, 2021 4:57 pm
Forum: Personal Consumer Issues
Topic: Feeding Birds:
Replies: 27
Views: 1802

Re: Feeding Birds:

I live in a condo in a megacity, so I don't have any personal advice, but based on this video, I'd say your work is cut out for you...
by Independent George
Sun Feb 21, 2021 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: HSA best practices-tracking expenses for future reimbursement
Replies: 31
Views: 1752

Re: HSA best practices-tracking expenses for future reimbursement

Scan/save all receipts to pdf, then back up all files - once to another local drive, and another to the cloud. Take notes on each expense if the receipt does not include details.
by Independent George
Sun Feb 21, 2021 2:48 pm
Forum: Investing - Theory, News & General
Topic: Friends don't let friends buy annuities...
Replies: 35
Views: 3869

Re: Friends don't let friends buy annuities...

If after all these years you couldn't convince them to go DIY, I don't think you're going to be able to do it now. It's probably best to just leave them be - they're consenting adults who can make their own decisions whether you agree with it or not.
by Independent George
Sat Feb 20, 2021 9:51 pm
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4570
Views: 230002

Re: [GameStop GME trading mega-thread]

I figured he was doing it as a hedge - both against crazy followers that might think he misled them for his own gain and against the government who might come after him if they think he doesn't just like the stock. Maybe I'm wrong though and he really does just like the stock. :happy $2M is probabl...
by Independent George
Fri Feb 19, 2021 3:37 pm
Forum: Personal Consumer Issues
Topic: No Heat Foods?
Replies: 92
Views: 4889

Re: No Heat Foods?

Ceviche - though I imagine getting ahold of truly fresh fish just as much of a problem right now.

Guacamole is always great.
by Independent George
Fri Feb 19, 2021 3:29 pm
Forum: Personal Consumer Issues
Topic: best wristwatch for the price
Replies: 184
Views: 17394

Re: best wristwatch for the price

The OP explicitly asked for "an inexpensive yet reliable and classy-looking men's analog watch"; I get that everyone has a different idea on what constitutes "inexpensive", but I can't help but feel everyone suggesting luxury brands like Rolex are either just flexing, or didn't b...
by Independent George
Thu Feb 18, 2021 5:01 pm
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4570
Views: 230002

Re: [GameStop GME trading mega-thread]

DTCC guy? Not on the witness list. Ok, then I have no idea who was talking; I was listening to audio only, so I inferred based on testimony. Someone went into pretty good detail about why the collateral requirements were raised and the risks from high volatility. It sounded like he was from DTCC. E...
by Independent George
Thu Feb 18, 2021 4:01 pm
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4570
Views: 230002

Re: [GameStop GME trading mega-thread]

I think it's someone from Reddit making the point that people on TV give all kinds of crazy investing advice for all kinds of reasons, whereas discussions on Reddit actually involves a lot of community feedback and vetting. I actually agree with this completely. Now there's (finally) a really good q...
by Independent George
Thu Feb 18, 2021 3:27 pm
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4570
Views: 230002

Re: [GameStop GME trading mega-thread]

Full disclosure - I'm pausing and resuming repeatedly while I also work, so my timestamps won't match anyone else's. Two hours in, we finally get the first questions about 140% short positions, order flow, and capitalization at RH. The answers are largely non-answers (as usual), but I find it hilari...
by Independent George
Thu Feb 18, 2021 3:02 pm
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4570
Views: 230002

Re: [GameStop GME trading mega-thread]

I need to watch the video so I can see who's asking the questions. One congressman just mocked the hearing as political theater (which I love) before going on with his own dumb leading question about whether retail investing is gambling. DFV's testimony is the best and most candid of everyone.
by Independent George
Thu Feb 18, 2021 1:49 pm
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4570
Views: 230002

Re: [GameStop GME trading mega-thread]

Congressional hearings are abolutely amazing at showing off how dumb and out of touch our congressmen are. I just listened to one ask if Robin Hood does anything to ensure that people are trading based on financial research, and not just social media.

Seriously? That's what they're focused on?
by Independent George
Thu Feb 18, 2021 1:38 pm
Forum: Personal Consumer Issues
Topic: best wristwatch for the price
Replies: 184
Views: 17394

Re: best wristwatch for the price

If you're willing to go up to the $500 range, the Casio Oceanus is probably the best in class for what you're looking for. There are lots of options to choose from, they're durable as heck, solar powered, and radio-synch to whichever atomic clock is in your region. For under $500, I'll echo others w...
by Independent George
Thu Feb 18, 2021 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2503
Views: 574108

Re: Share your net worth progression

I never tracked this. I wish I had. This thread both depresses me, and also motivates me to do better. I'm at almost $1.1 million at age 40. Why would you be depressed being a 40 year old Millionaire? This jusy shows how far from the norm Booglehead demographics are. Comparison is the thief of joy....
by Independent George
Wed Feb 17, 2021 10:14 pm
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4570
Views: 230002

Re: [GameStop GME trading mega-thread]

queso wrote: Wed Feb 17, 2021 5:53 pm
firebirdparts wrote: Wed Feb 17, 2021 5:42 pm It's Iovin, looks like, with an "I".

Not that anything about people's names would surprise me.
oh...now it isn't so funny. :(
Number two, it doesn't even have a first name - it just says 'McLovin'!"
by Independent George
Wed Feb 17, 2021 8:48 pm
Forum: Personal Consumer Issues
Topic: Ski Socks
Replies: 23
Views: 1123

Re: Ski Socks

I will only ever buy Darn Tough socks from now on. Yes, they're expensive (the cheapest ones are $18). They're still worth it. They are by the most comfortable and durable socks I've ever owned, and they come with a lifetime guarantee ; when they wear out, you can send them back, and they will repla...