Search found 81 matches

by vinhodoporto
Sun Apr 04, 2021 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Financial impact of a temporary assignment in the DC area
Replies: 32
Views: 2347

Re: Financial impact of a temporary assignment in the DC area

Financially totally doable to stay within the allowance, especially now that rents are down due to to so many people leaving the city due to COVID and other things that happened here over the past year I don’t know about rental furniture in DC specifically but I’ve used it in other places and my big...
by vinhodoporto
Sat Apr 03, 2021 4:47 pm
Forum: Personal Consumer Issues
Topic: What is the BEST thing you spent money on?
Replies: 242
Views: 24007

Re: What is the BEST thing you spent money on?

Travel with our kids.... Before COVID we did an international trip event year. Our kids (teenagers) have been to six continents and 12 countries. The memories and experiences we will never forget. I think it’s given our kids an amazing perspective on the world that they never would have had otherwise.
by vinhodoporto
Sat Apr 03, 2021 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Megacorp imposed 401k After-tax contribution cap
Replies: 26
Views: 2354

Re: Megacorp imposed 401k After-tax contribution cap

The one I worked at until recently capped post tax contributions at 10% of each paycheck or bonus.

New employer isn’t set up for Megabackdoor unfortunately so the 10% cap doesn’t sound so bad now
by vinhodoporto
Fri Apr 02, 2021 9:48 pm
Forum: Personal Consumer Issues
Topic: High spenders what do you spend on?
Replies: 255
Views: 25283

Re: High spenders what do you spend on?

Travel, especially international Going to shows, concerts, and live sporting events Fine dining Fine wine, liquor Going to bars and clubs Whole Foods and other expensive grocery stores Kids sports/ activities especially private lessons, camps, travel teams Medical/ health expenses not covered by ins...
by vinhodoporto
Sat Mar 27, 2021 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: Tales from this insane real estate market
Replies: 441
Views: 55840

Re: Tales from this insane real estate market

Lots of reasons why this is happening now: 1. Supply and demand. Various things over the last year made big cities less attractive places to live and suburbs and second tier cities more attractive. Add to this fewer people selling than usual, low rates of new construction, and restrictive zoning law...
by vinhodoporto
Sat Mar 27, 2021 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Giving up a job with pension/retiree health care
Replies: 9
Views: 1558

Re: Giving up a job with pension/retiree health care

Financially it sounds like the right decision is to tough it out. But not everything in life can be boiled down to dollars and cents. There are two things I would recommend you consider to help break the decision paralysis: 1. Even though your jobs are in different places, spend every weekend togeth...
by vinhodoporto
Fri Mar 26, 2021 2:05 am
Forum: Personal Finance (Not Investing)
Topic: Tales from this insane real estate market
Replies: 441
Views: 55840

Re: Tales from this insane real estate market

Another NoVa poster here... thankfully not currently in the market to buy a house. Yes, the market here is insanely competitive (almost no inventory, multiple offers over asking, waived contingencies) but I don’t think is anything like the last bubble. Lenders are much stricter, people are buying pl...
by vinhodoporto
Fri Mar 26, 2021 1:28 am
Forum: Personal Finance (Not Investing)
Topic: What percentage of net worth in retirement account is "Too much" for early 40s?
Replies: 64
Views: 7127

Re: What percentage of net worth in retirement account is "Too much" for early 40s?

Early 40s with 85% of our investable net worth in tax advantaged accounts. I don’t see an issue with that or with the % that you have as long as it’s not impacting your ability to live your life. My quick math says you have over $150k in your taxable accounts which should be more than enough. In our...
by vinhodoporto
Thu Mar 18, 2021 8:33 pm
Forum: Personal Consumer Issues
Topic: How do you determine consulting hourly rate?
Replies: 15
Views: 1191

Re: How do you determine consulting hourly rate?

I hire independent consultants / small boutique firms and also work with some of the big firms for certain projects If I’m going through a firm or staffing agency ~3x salary I’d pay an employee is typical. If it’s long term I’ll aim to get lower. But at the end of the day getting the right person is...
by vinhodoporto
Wed Mar 17, 2021 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Business Travel Allowances
Replies: 13
Views: 790

Re: Business Travel Allowances

Mine follows federal government per diem rates for meals.
by vinhodoporto
Sat Jan 16, 2021 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: How to Prepare for New Home Purchase
Replies: 6
Views: 1098

Re: How to Prepare for New Home Purchase

Based on your user name I am going to assume we have the same alma mater :happy 1. I would not buy for at least the first year after you get out. A lot of people end up not liking the first job they’ve chosen after getting out and/or after a couple of years of experience they find another better opp...
by vinhodoporto
Sat Jan 09, 2021 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Buying Home Before Selling Home - Seeking Finance Input
Replies: 14
Views: 1064

Re: Buying Home Before Selling Home - Seeking Finance Input

Friends just did the sell and rent back option. Their buyers agreed to up to a 6 mo rent back with the sellers (my friends) having the ability to end it early by giving 1 months notice. Something like this might work if you live in a very hot market.
by vinhodoporto
Sun Jan 03, 2021 10:22 am
Forum: Personal Finance (Not Investing)
Topic: USAJobs - Senior Executive Service Positions
Replies: 22
Views: 1558

Re: USAJobs - Senior Executive Service Positions

Highly unlikely to directly land a SES position via USAjobs A lot of the stuff posted on there (at all levels) is there because they’re required to advertise it but they already have someone they plan to hire in mind. The 4 day window over the holiday weekend is a giant red flag for this. The only “...
by vinhodoporto
Sun Jan 03, 2021 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Tax question on married living in separate states
Replies: 13
Views: 1270

Re: Tax question on married living in separate states

We were in a similar situation a few years ago. I was a FL resident living in FL and had most of the income. Spouse was living in Virginia and going to school with some part time work. Here is what my accountant (big national firm provided by my employer) had us do: - MFJ federal using my FL address...
by vinhodoporto
Sun Jan 03, 2021 9:58 am
Forum: Personal Finance (Not Investing)
Topic: What have YOU used an emergency fund for?
Replies: 44
Views: 3283

Re: What have YOU used an emergency fund for?

Off the top of my head here are some things we’ve used ours for over the years - always had “enough”: - Insurance deductibles (we intentionally had a high deductible plan) ~$5k - Major home repairs not covered by insurance / not planned ~$5k - Costs related to a medical issue a parent had, including...
by vinhodoporto
Wed Dec 30, 2020 11:59 pm
Forum: Personal Finance (Not Investing)
Topic: Can you only contribute to 401k after-tax
Replies: 7
Views: 799

Re: Can you only contribute to 401k after-tax

gch wrote: Wed Dec 30, 2020 11:53 pm My company has Vanguard and I can contribute pre tax, Roth, or After tax.
Same
by vinhodoporto
Tue Dec 29, 2020 11:03 am
Forum: Personal Finance (Not Investing)
Topic: How late in life did you make a major career change?
Replies: 17
Views: 2240

Re: How late in life did you make a major career change?

My spouse started a second Masters at age 39. Completed it and started a new career at age 41.
by vinhodoporto
Wed Dec 23, 2020 9:55 am
Forum: Personal Finance (Not Investing)
Topic: house affordability math
Replies: 18
Views: 1461

Re: house affordability math

you can afford a house priced roughly 2.5 times your annual salary old rule of thumb One problem with this rule of thumb is it is from a time when interest rates were like 9% but rates today are below 3%. For the same monthly payment that supports a mortgage of 2x annual income at 9% you could supp...
by vinhodoporto
Wed Dec 23, 2020 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Evaluating home refinance
Replies: 4
Views: 326

Re: Evaluating home refinance

Have you shopped around and is this the best refi option out there? If so I can’t think of a reason for you NOT to do this. You’re paying $2200 in closing costs (excluding escrow which you eventually get back) to reduce your interest rate by 1 - 1.25%. You should check the math but I think you get t...
by vinhodoporto
Tue Dec 22, 2020 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: house affordability math
Replies: 18
Views: 1461

Re: house affordability math

As others have said the calculators don’t take in to account enough details about your specific situation to be useful. 40% of gross may work for one person while 15% may be a stretch for someone else. For example, at one point we spent 32% of gross on PITI. It worked for us because of the following...
by vinhodoporto
Mon Dec 21, 2020 11:11 pm
Forum: Personal Finance (Not Investing)
Topic: New Boglehead seeking input on strategy
Replies: 22
Views: 1507

Re: New Boglehead seeking input on strategy

I’d prioritize the CPA exam and new job first. It may be harder than you expect to land a job in OH. It’s an employers market in a lot of places. Once you get the job nailed down you’ll be better able to plan your budget and finances, as well as where to live. You can probably get a nice house in a ...
by vinhodoporto
Sun Dec 20, 2020 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford (unusual situation)?
Replies: 17
Views: 2135

Re: How much house can we afford (unusual situation)?

Don’t consider the $60k gifts, your wife’s potential but unproven income, or anything about a potential inheritance when deciding what you can afford. There’s too much uncertainty around these to rely on them to cover a significant, illiquid debt (mortgage).
by vinhodoporto
Sun Dec 20, 2020 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford (unusual situation)?
Replies: 17
Views: 2135

Re: How much house can we afford (unusual situation)?

We need more info to be able to give you a better answer. Starting from your $240k income and subtracting taxes, savings, and other spending how much do you have left to spend on housing? Or to put it another way, what are you spending on housing now plus how much are you willing to cut back on savi...
by vinhodoporto
Fri Dec 18, 2020 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth & Timing of moving tradition IRAs
Replies: 15
Views: 810

Re: Backdoor Roth & Timing of moving tradition IRAs

You can do a back door ROTH IRA for 2020 up until 4/15/21
by vinhodoporto
Fri Dec 18, 2020 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: Does company loyalty still exist?
Replies: 64
Views: 4470

Re: Does company loyalty still exist?

I have been offered a job in the new year that pays (5k base) better, offers quarterly bonuses, equity options, unlimited PTO, and slightly better healthcare and retirement benefits. The new company is on a 100% year over year revenue growth trajectory and my position is not tied to any specific co...
by vinhodoporto
Fri Dec 18, 2020 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: Does company loyalty still exist?
Replies: 64
Views: 4470

Re: Does company loyalty still exist?

If you are having trouble sleeping because of sole-customer driven ethical concerns, that's a dealbreaker all by itself. I wouldn't classify anything the OP wrote as remotely close to an ethics violation. A real ethics violation would be if the OP was asked to do anything contrary to law, regulatio...
by vinhodoporto
Fri Dec 18, 2020 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: What is the Worst Financial Decision/Mistake You Have Made?
Replies: 230
Views: 18493

Re: What is the Worst Financial Decision/Mistake You Have Made?

Bought a house in 2005

We wrote a bigger check to the bank when we sold it than when we bought it :shock:
by vinhodoporto
Fri Dec 18, 2020 2:08 am
Forum: Personal Finance (Not Investing)
Topic: Parents choosing college options for their kids based on affordability
Replies: 60
Views: 3082

Re: Parents choosing college options for their kids based on affordability

Just wondering how many Bogleheads out there give their children a list of schools that can apply to based one what they can afford? This approach may unnecessarily take good options off the table. You won’t know the actual cost until after your kid gets accepted. Sticker price is almost completely...
by vinhodoporto
Mon Dec 14, 2020 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: Public vs Private Sector Employment
Replies: 101
Views: 5418

Re: Public vs Private Sector Employment

The OP clarified up thread, the pension would replace 65% of high three or high five. Getting to a $85k pension or $130k high three or high five income would be based on some combination of promotions and cost-of-living increases. I saw that. My point is the $85k pension the OP described is in curr...
by vinhodoporto
Mon Dec 14, 2020 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Public vs Private Sector Employment
Replies: 101
Views: 5418

Re: Public vs Private Sector Employment

The OP clarified up thread, the pension would replace 65% of high three or high five. Getting to a $85k pension or $130k high three or high five income would be based on some combination of promotions and cost-of-living increases. I saw that. My point is the $85k pension the OP described is in curr...
by vinhodoporto
Mon Dec 14, 2020 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Public vs Private Sector Employment
Replies: 101
Views: 5418

Re: Public vs Private Sector Employment

Don’t be lured by the “upward mobility” line of talk. They say that to everyone. They say it because it helps whet your appetite. It may very well be true, but not for you. Make this move with the eye on the next move. An $85k pension is like having a $2mm+ retirement account. Will the additional s...
by vinhodoporto
Mon Dec 14, 2020 12:00 am
Forum: Personal Finance (Not Investing)
Topic: Public vs Private Sector Employment
Replies: 101
Views: 5418

Re: Public vs Private Sector Employment

Does your wife also work for the government? Where I’m going with this is if her income is safe and she has a pension I think that makes it less risky for you to try out something in the private sector. From a financial standpoint I don’t think the private sector opportunities you’re looking at are ...
by vinhodoporto
Thu Dec 10, 2020 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: 'Market Timing' Buying a Home
Replies: 28
Views: 1953

Re: 'Market Timing' Buying a Home

One issue I didn’t see you mention is that there are actually two things you need to “market time” when buying real estate: mortgage interest rates and home prices. You could end up paying more over time if in a couple years you buy a lower priced house with a more expensive mortgage. vinhodoporto,...
by vinhodoporto
Thu Dec 10, 2020 5:34 pm
Forum: Personal Investments
Topic: Mega backdoor Roth Q
Replies: 10
Views: 558

Re: Mega backdoor Roth Q

Agree that making after tax contributions automatically from your paychecks and having them auto converted to Roth in the plan is the way to go. Greatly reduces the work you have to do or the risk of messing something up. If you’re still considering making a lump sum contribution (not deductions fro...
by vinhodoporto
Thu Dec 10, 2020 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: 'Market Timing' Buying a Home
Replies: 28
Views: 1953

Re: 'Market Timing' Buying a Home

One issue I didn’t see you mention is that there are actually two things you need to “market time” when buying real estate: mortgage interest rates and home prices. You could end up paying more over time if in a couple years you buy a lower priced house with a more expensive mortgage. vinhodoporto,...
by vinhodoporto
Thu Dec 10, 2020 9:32 am
Forum: Personal Finance (Not Investing)
Topic: 47 Years Old - What are Our Next Steps?
Replies: 19
Views: 3699

Re: 47 Years Old - What are Our Next Steps?

Doug, You need more insurance on yourself than $900k if you’d want your family to keep anywhere near the same lifestyle if something happened to you. I’d look at buying 10 year term to cover you through your youngest kids college. You may be able to do another refi and get your mortgage rate lower. ...
by vinhodoporto
Thu Dec 10, 2020 9:01 am
Forum: Personal Finance (Not Investing)
Topic: 'Market Timing' Buying a Home
Replies: 28
Views: 1953

Re: 'Market Timing' Buying a Home

One issue I didn’t see you mention is that there are actually two things you need to “market time” when buying real estate: mortgage interest rates and home prices. You could end up paying more over time if in a couple years you buy a lower priced house with a more expensive mortgage. Now, I've been...
by vinhodoporto
Thu Dec 10, 2020 8:32 am
Forum: Personal Investments
Topic: Contribute both to 401K and Roth IRA
Replies: 2
Views: 321

Re: Contribute both to 401K and Roth IRA

Would you lose any of your company match if you reduce the 401k contribution? Could your wife get more match if she increased her 401k contribution? Don’t give up any free money in the 401k... General advice would be don’t contribute to Roth > pretax 401k if you’re in a higher tax bracket now than i...
by vinhodoporto
Wed Dec 09, 2020 11:40 pm
Forum: Personal Finance (Not Investing)
Topic: Structuring an executive compensation package
Replies: 24
Views: 2696

Re: Structuring an executive compensation package

There is a period between when a person resigns from a job and when they start the next one that could span several months. Anything can happen in those months. Maybe the offer is rescinded because the project looks less promising. Maybe the economy falls into a recession. How does the executive mi...
by vinhodoporto
Wed Dec 09, 2020 11:37 pm
Forum: Personal Finance (Not Investing)
Topic: Structuring an executive compensation package
Replies: 24
Views: 2696

Re: Structuring an executive compensation package

Have you considered asking these questions to c-suite recruiters? In my experience (non c-suite but hiring staff) they are more than willing to provide current ranges and have the most recent pulse on market conditions & expectations. The impression I get from past negotiations is that the proc...
by vinhodoporto
Wed Dec 09, 2020 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Business Travel and States Taxes - what "income" is taxed?
Replies: 10
Views: 731

Re: Business Travel and States Taxes - what "income" is taxed?

SnowBog wrote: Tue Dec 08, 2020 11:38 pm
grabiner wrote: Tue Dec 08, 2020 10:55 pm The way most states handle this...
And who's responsible to figure this out?
My employer has always handled this. It’s pretty automated in the payroll system based on the location(s) you put on your timesheet. I get a W2 for each state I worked in with the allocated amounts.
by vinhodoporto
Wed Dec 09, 2020 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Structuring an executive compensation package
Replies: 24
Views: 2696

Re: Structuring an executive compensation package

If it’s a public company you can also find the comp details for the 5 highest paid executives in their proxy statements, 10k, 8k on the SEC website. You can also use this to roughly benchmark comparable companies. Very much agree with the above recommendations to ask a few executive recruiters or co...
by vinhodoporto
Tue Dec 08, 2020 5:47 pm
Forum: Personal Investments
Topic: HNW or VHNW folks, what are you invested in?
Replies: 20
Views: 2681

Re: HNW or VHNW folks, what are you invested in?

I suspect the HNW/VHNW users of this forum tend to skew towards the end of the spectrum that is likely to have significant assets in stocks/bonds/index funds/ETFs etc while the people profiled in “Millionaire Next Door” tended to have a lot of their wealth in a small business. So there may be some s...
by vinhodoporto
Tue Dec 08, 2020 5:25 pm
Forum: Personal Investments
Topic: High-earner 401K and IRA questions
Replies: 9
Views: 816

Re: High-earner 401K and IRA questions

1. Anything you or your spouse put in a tIRA would be considered an after tax contribution. 2. Yes, but check the IRS rules. I believe you have to make the contribution for the prior year (in this case 2020) by April 15th 2021. Edited to add: this assumes you have enough taxable income in 2020 to qu...
by vinhodoporto
Tue Dec 08, 2020 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone else playing catch-up in their 40's?
Replies: 84
Views: 11205

Re: Anyone else playing catch-up in their 40's?

Lots of people are. We always saved something and never had any credit card debt or major employment setbacks and it STILL seems like we are playing catch up in our early 40s, even though we are putting away a ton of money now. Once you start, it’s easy to get discouraged by the slow increase in you...
by vinhodoporto
Tue Dec 08, 2020 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: Should we save for college? If so how?
Replies: 45
Views: 3747

Re: Should we save for college? If so how?

Our side discussion of taxable vs 529 for AOTC has taken the thread somewhat OT. OP, in your situation, with college only 4 years out for the little twinkle-of-your-eye, that's not a lot of time for 529 tax-free growth potential to really manifest. I agree with your idea of putting in the maximum t...
by vinhodoporto
Tue Dec 08, 2020 3:34 pm
Forum: Personal Investments
Topic: Recent Military Officer Retired- Major Decisions.
Replies: 27
Views: 2392

Re: Recent Military Officer Retired- Major Decisions.

One additional thing to consider... how would your plan change if you left your current employer? It’s very unusual for people in the civilian world to stay with one company for 15-20 years so it’s more likely than not that you will change jobs at least once before finally retiring. You should have ...
by vinhodoporto
Sun Dec 06, 2020 7:51 am
Forum: Personal Finance (Not Investing)
Topic: Should we save for college? If so how?
Replies: 45
Views: 3747

Re: Should we save for college? If so how?

I'm not a big 529 fan, but you're in the same boat I was. Little state credit. Put in the max per year. Get the credit. Pull it all out as soon as the college bill comes and use it to pay the bill. You'll have very little gain, but you're getting $185 in tax savings, which is $85 more than I got. H...
by vinhodoporto
Sat Dec 05, 2020 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: Should we save for college? If so how?
Replies: 45
Views: 3747

Re: Should we save for college? If so how?

OP, A) You are saving about 80K per year in 401K/403B/457B and 2 X Roth IRAs. B) Let's say that you can save another 10K beyond that. C) You put that 10K into the taxable account. When your kids go to college, 1) You can spend from your taxable account, emergency fund, and Roth IRA contribution. 2)...
by vinhodoporto
Sat Dec 05, 2020 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Commuting after COVID
Replies: 133
Views: 8287

Re: Commuting after COVID

I’m in a leadership role and the US operations of my company have been remote since March. I think remote work is going to be much more common because “knowledge workers” will demand the flexibility afforded by more of it, but there will be more push back from companies than we see now. I don’t thin...