Search found 23407 matches

by Grt2bOutdoors
Wed Jun 16, 2021 5:16 pm
Forum: Personal Investments
Topic: Oops - Undoing a UTMA account!?
Replies: 8
Views: 292

Re: Oops - Undoing a UTMA account!?

You saved a chunk of money in a 529 plan - good, less “financial aid” or “loans”. Your parents saved in a 529 plan also - good, less financial aid or loans. Your kids have money in an UTMA - good, less financial aid or loans. What’s the problem? Financial aid - is a loan. It’s not a gift from the s...
by Grt2bOutdoors
Wed Jun 16, 2021 5:06 pm
Forum: Personal Investments
Topic: Oops - Undoing a UTMA account!?
Replies: 8
Views: 292

Re: Oops - Undoing a UTMA account!?

We have saved a chunk of money in our children's 529 account since they were born. Then my parents surprised us and said that they also have monies in a 529 for them. Because we didn't want to have too much money tied up in a 529 fund, we decided to open up a UTMA account for each child and invest ...
by Grt2bOutdoors
Tue Jun 15, 2021 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone regret paying off mortgage early?
Replies: 1290
Views: 152139

Re: Anyone regret paying off mortgage early?

Here's my story: 2008: Age 42. retired from military with $80k of consumer debt and a $450k interest only mortgage with negative equity. No savings. Found a job making $150k / year. 2014: Age 48. Pay has increased to $500k / year. Consumer debt is now $160k. $500k mortgage with negative equity. Spe...
by Grt2bOutdoors
Tue Jun 15, 2021 6:07 pm
Forum: Investing - Theory, News & General
Topic: What was it like to index during the Lost Decade (1999-2009)?
Replies: 65
Views: 5343

Re: What was it like to index during the Lost Decade (1999-2009)?

It was like watching paint dry on the wall, very slowly. Thought, well, this is for retirement, so long as I can remain employed there is still time for it to recover and then some. Also thought, well, a secure field looks great now! Living in NYC and seeing entire buildings of people empty out with...
by Grt2bOutdoors
Tue Jun 15, 2021 5:03 pm
Forum: Personal Consumer Issues
Topic: How long should a car last?
Replies: 70
Views: 3820

Re: How long should a car last?

How long are you willing to maintain the vehicle in top mechanical condition? Forty years ago, you felt very good if you could get 100k miles out of a vehicle without a significant replacement of the engine or the transmission. These days, I am driving a 2007 Toyota Corolla with 165k miles. I have ...
by Grt2bOutdoors
Mon Jun 14, 2021 3:59 pm
Forum: Personal Consumer Issues
Topic: Afternoon tea in Boston?? Where??
Replies: 28
Views: 2071

Re: Afternoon tea in Boston?? Where??

I have a great establishment, founded in 1775. You can find it by the ships, in the harbor. :D
by Grt2bOutdoors
Mon Jun 14, 2021 3:35 pm
Forum: Investing - Theory, News & General
Topic: I'll never regret not having international funds in my portfolio
Replies: 203
Views: 11797

Re: I'll never regret not having international funds in my portfolio

I agree 100%. For the record, we are in very good company because Warren Buffett's investing advice for average folks excludes international also. Good Luck! Ironic - since Warren owns international on companies outright. I don’t recall him saying specifically to avoid international companies. I kn...
by Grt2bOutdoors
Mon Jun 14, 2021 3:32 pm
Forum: Personal Investments
Topic: Its time to tilt back to a more conservative allocation
Replies: 30
Views: 2476

Re: Its time to tilt back to a more conservative allocation

Not wrong, but what does your crystal ball say as to when they will take the punch bowl away?
by Grt2bOutdoors
Mon Jun 14, 2021 11:49 am
Forum: Personal Investments
Topic: Decrease/stop 403b contribution for self and contribute to children's Roth IRAs
Replies: 15
Views: 1123

Re: Decrease/stop 403b contribution for self and contribute to children's Roth IRAs

It would be a very nice gift from you to your children. Financially you can afford it.
by Grt2bOutdoors
Mon Jun 14, 2021 11:46 am
Forum: Investing - Theory, News & General
Topic: I'll never regret not having international funds in my portfolio
Replies: 203
Views: 11797

Re: I'll never regret not having international funds in my portfolio

I agree 100%. For the record, we are in very good company because Warren Buffett's investing advice for average folks excludes international also. Good Luck! Ironic - since Warren owns international on companies outright. I don’t recall him saying specifically to avoid international companies.
by Grt2bOutdoors
Mon Jun 14, 2021 10:00 am
Forum: Personal Investments
Topic: Decrease/stop 403b contribution for self and contribute to children's Roth IRAs
Replies: 15
Views: 1123

Re: Decrease/stop 403b contribution for self and contribute to children's Roth IRAs

Welcome to the forum. :happy I'm looking for thoughts on the possible reasons why this may not be a good idea. Currently, I am unable to come with any - only good reasons why I should. I've been thinking of reducing/stopping current max tax-deferred 403b contributions with a 7% fixed return and con...
by Grt2bOutdoors
Mon Jun 14, 2021 6:54 am
Forum: Personal Investments
Topic: Decrease/stop 403b contribution for self and contribute to children's Roth IRAs
Replies: 15
Views: 1123

Re: Decrease/stop 403b contribution for self and contribute to children's Roth IRAs

Is there a reason you were considering stopping the 403b rather than the 457b? The NYS teacher's pension is legendary; I wouldn't give up any of that space if I had other options. The OP’s pension is from the NYC TRS. Just the same, I agree with you the pension is legendary beyond the tenure based ...
by Grt2bOutdoors
Sun Jun 13, 2021 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: No SS card no access to new ETrade account
Replies: 48
Views: 3279

Re: No SS card no access to new ETrade account

Oh. Is this an ETrade-specific requirement? I think it is a specific P.A.T.R.I.O.T. Act requirement. It’s part of the AML/KYC requirements under the 2001 USA Patriot Act. AML = Anti Money Laundering. KYC = Know Your Customer. It’s serious stuff, so serious that firms which fail to comply with the r...
by Grt2bOutdoors
Sun Jun 13, 2021 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford 650k house?
Replies: 26
Views: 3694

Re: Can I afford 650k house?

Look at your spending and savings today. Can you come up with an additional $10-12k while continuing with your savings rate? Are you okay with adding $6k per year to 529 plan? Bigger house - bigger maintenance expenses.
by Grt2bOutdoors
Sat Jun 12, 2021 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Investing vs paying down mortgage
Replies: 23
Views: 2537

Re: Investing vs paying down mortgage

Hello, We just moved into a new house and am looking to balance my investments. Both of us are in early to mid 30s and our combined income is around 400-500k per year and have a mortgage of $1.3m. We have about 350k in pretax 401k and 125k in roth ira. We have ~400k in stocks/etfs and will have ano...
by Grt2bOutdoors
Sat Jun 12, 2021 4:39 pm
Forum: Investing - Theory, News & General
Topic: Does Buffett have the power to command a higher rate on Treasuries?
Replies: 9
Views: 909

Re: Does Buffett have the power to command a higher rate on Treasuries?

Well he could push prices up? Maybe offer 5% and hope for 2%? Wouldn't that be pushing down prices? The more you pay for a treasury, the lower the yield. So to get a higher yield, he would have to offer to buy a bunch at below market rates. I don't see how that would work. He's making the compariso...
by Grt2bOutdoors
Sat Jun 12, 2021 4:31 pm
Forum: Personal Investments
Topic: Starting a brokerage account for my 12 y/o son
Replies: 23
Views: 1546

Re: Starting a brokerage account for my 12 y/o son

I would guess that you have two purposes. The obvious first is to give your son some investments that will provide him with future money. The second, I would think, would be to get him into understanding and appreciating investing and investing philosophy and goals. Perhaps starting off simple with...
by Grt2bOutdoors
Sat Jun 12, 2021 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Better to payoff mortgage
Replies: 16
Views: 1793

Re: Better to payoff mortgage

You aren't providing enough info. "Pay off the mortgage" is a one size fits all answer. And one size fits all solutions - do tend to fit "everyone" but they tend to fit some people/things poorly or not really well. You need to look at your Big Picture - that's what a "finan...
by Grt2bOutdoors
Sat Jun 12, 2021 4:17 pm
Forum: Investing - Theory, News & General
Topic: Does Buffett have the power to command a higher rate on Treasuries?
Replies: 9
Views: 909

Re: Does Buffett have the power to command a higher rate on Treasuries?

He has $150B in cash after all. He could finance almost 10% of next year's deficit (estimated at $1.8T). Could he conceivably ask for 2% on 1 year Treasuries? He can do it now, at auction. The treasury market at auction sets the rate offered through a competitive bidding process. You can offer to b...
by Grt2bOutdoors
Sat Jun 12, 2021 2:25 pm
Forum: Investing - Theory, News & General
Topic: What's the catch with I Bonds?
Replies: 190
Views: 17146

Re: What's the catch with I Bonds?

What happens next year if inflation is transitory? Then your I Bonds will still retain their purchasing power. Myself and many others on this thread have purchased I Bonds prior to 2021. Regardless of the fixed rate and/or CPI inflation numbers, they have always been great place to park extra cash ...
by Grt2bOutdoors
Sat Jun 12, 2021 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Better to payoff mortgage
Replies: 16
Views: 1793

Re: Better to payoff mortgage

I can't wrap my head around your savings accounts. Have you made sure that your diversified across banks to make sure you're insured? I'm of the school to pay off a mortgage right before retirement since the idea of hold 25x a year of house payments is usually higher than your outstanding debt. If ...
by Grt2bOutdoors
Sat Jun 12, 2021 10:29 am
Forum: Personal Investments
Topic: Investment planning and best way to deploy lump sum
Replies: 4
Views: 397

Re: Investment planning and best way to deploy lump sum

Payoff the solar loan and the vehicle loan when you get the lump sum. You can not beat those rates of return in the fixed income markets.
by Grt2bOutdoors
Sat Jun 12, 2021 8:59 am
Forum: Personal Consumer Issues
Topic: Above ground pool owners?
Replies: 33
Views: 2610

Re: Above ground pool owners?

I can't re-iterate how much nicer and less work a salt water pool is... A slightly oversized sand filter is really nice, so you aren't cleaning the filter constantly, which also gives you a lot of capacity to catch up on cleaning if things get behind.. make sure you budget for a automatic bottom va...
by Grt2bOutdoors
Sat Jun 12, 2021 3:17 am
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 717
Views: 173351

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

ITT: Get a job with a high salary and don't blow all your money. This forum is a wonderful, informative place—I've been lurking here for a while now as my financial situation has stabilized and I can save more easily—but whew, it's amazing to me that many people on this forum seem to think that a $...
by Grt2bOutdoors
Sat Jun 12, 2021 2:41 am
Forum: Personal Investments
Topic: At what point do you stop contributing to employer sponsored retirement plans?
Replies: 34
Views: 4881

Re: At what point do you stop contributing to employer sponsored retirement plans?

My wife has a 401k and I have a 401k and 457. I fill all three pre-tax. I backdoor ROTHs every year. I also have a taxable account that currently gets another $15k a year plus about 80% of her bonus when she gets it. Is that a problem? I've never saw the 401k ROTH as something I should do. What is ...
by Grt2bOutdoors
Fri Jun 11, 2021 4:10 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 2485
Views: 297464

Re: Post your Financial Milestone Announcements Here

Far more modest than anything else here, but I passed 50k net worth this month (26 years old). Been not so great with savings rates the past few years, but I’ve stepped up to saving about 40% of my ~63k income and feel good about picking up some speed. Modest you say? Compared to your peers you are...
by Grt2bOutdoors
Fri Jun 11, 2021 4:04 pm
Forum: Personal Consumer Issues
Topic: Move from Chicago to Phoenix?
Replies: 43
Views: 3452

Re: Move from Chicago to Phoenix?

PHX pizza sucks. So do the bagels! :P PHX in the summer months will make you yearn for Chicago. Dreadful is an understatement. Before you contemplate a move anywhere - go visit and go when your intelligence searches say the conditions are not one to yearn for. It will be a real wake-up call to expe...
by Grt2bOutdoors
Fri Jun 11, 2021 12:44 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 2485
Views: 297464

Re: Post your Financial Milestone Announcements Here

AJC408 wrote: Fri Jun 11, 2021 9:28 am I came across this thread late but my wife and I hit $1M in January of 2021 and are now at $1.2M as of this month. I have nobody else to tell except my wife and so I'm glad I can share it here lol.

Congrats to everyone else on their milestones as well!
Congratulations!
by Grt2bOutdoors
Fri Jun 11, 2021 12:44 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 2485
Views: 297464

Re: Post your Financial Milestone Announcements Here

MrBobcat wrote: Thu Jun 10, 2021 10:15 am Briefly crossed the $1MM in our investments this morning for the 1st time. Been a long time coming. Mrs. and I got married in 1988 with 2cents to rub together and $6,500 in student loans.
Congratulations!
by Grt2bOutdoors
Fri Jun 11, 2021 12:41 pm
Forum: Investing - Theory, News & General
Topic: Question About Retiring in 1966
Replies: 81
Views: 6761

Re: Question About Retiring in 1966

I don't mean to sound angry or bitter, You aren’t the one that sounds angry or bitter… but I think underestimating the importance of networking among alums is ignoring the elephant in the room -- it's as much about WHO you know as the WHAT you know. Your friends can get you jobs your resume never w...
by Grt2bOutdoors
Fri Jun 11, 2021 12:36 pm
Forum: Investing - Theory, News & General
Topic: Question About Retiring in 1966
Replies: 81
Views: 6761

Re: Retiring in 1966 on 2% SWR

With the latest inflation data, I'm wondering if we might not see something like the 1966 retiree saw. I know that 4% just barely made it or maybe just barely failed, but I'm wondering how the 1966 retiree did, in real terms, over 30 years, if he or she did a 2% SWR. This is very actionable to me. ...
by Grt2bOutdoors
Fri Jun 11, 2021 11:45 am
Forum: Personal Finance (Not Investing)
Topic: No SS card no access to new ETrade account
Replies: 48
Views: 3279

Re: No SS card no access to new ETrade account

Oh. Is this an ETrade-specific requirement? I think it is a specific P.A.T.R.I.O.T. Act requirement. It’s part of the AML/KYC requirements under the 2001 USA Patriot Act. AML = Anti Money Laundering. KYC = Know Your Customer. It’s serious stuff, so serious that firms which fail to comply with the r...
by Grt2bOutdoors
Thu Jun 10, 2021 8:49 pm
Forum: Investing - Theory, News & General
Topic: What's the catch with I Bonds?
Replies: 190
Views: 17146

Re: What's the catch with I Bonds?

What happens next year if inflation is transitory? Then your I Bonds will still retain their purchasing power. Myself and many others on this thread have purchased I Bonds prior to 2021. Regardless of the fixed rate and/or CPI inflation numbers, they have always been great place to park extra cash ...
by Grt2bOutdoors
Thu Jun 10, 2021 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone regret paying off mortgage early?
Replies: 1290
Views: 152139

Re: Anyone regret paying off mortgage early?

Not anymore with 8% DOW, 17% S&P and 44% Nasdaq return for 2020, plus my mortgage payment this month is lowered than last year and it will continue to get lower and lower due to inflation. Since folks were coming back here 2 years later to post comments on the “guarantee return”, i feel that it...
by Grt2bOutdoors
Thu Jun 10, 2021 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone regret paying off mortgage early?
Replies: 1290
Views: 152139

Re: Anyone regret paying off mortgage early?

That "guaranteed return" looks pretty good right now. :sharebeer Yup! Not anymore with 8% DOW, 17% S&P and 44% Nasdaq return for 2020, plus my mortgage payment this month is lowered than last year and it will continue to get lower and lower due to inflation. Since folks were coming ba...
by Grt2bOutdoors
Thu Jun 10, 2021 12:47 pm
Forum: Personal Investments
Topic: How much do we need?
Replies: 40
Views: 3271

Re: How much do we need?

So maybe this will explain it a little bit better... my regular check is grossing a bit over 23k a year and u can only take 401k out of it... if I do 6% then the company will do 3% but anything over 6% they won’t do anything on other than the 3%... I also make a bonus that is not a guarantee but ha...
by Grt2bOutdoors
Thu Jun 10, 2021 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone regret paying off mortgage early?
Replies: 1290
Views: 152139

Re: Anyone regret paying off mortgage early?

No, I will not pay off my mortgage early. I am at 2.5% fixed. I rather grow my portfolio than wasting the opportunity cost to build wealth. That "sense of security" is too costly. Smart decision. I'm always amazed at the number of people who buy into the "guaranteed return" argu...
by Grt2bOutdoors
Thu Jun 10, 2021 12:39 pm
Forum: Personal Investments
Topic: How much do we need?
Replies: 40
Views: 3271

Re: How much do we need?

I have been following dave Ramsey and have 13k put back plus almost all of June July and august funded... I have 9800 in 401k but the match is horrible... we can do 6% of our regular check which isn’t even 60 bucks and get 3% max... I just maxed that out Lwcgrad08, That is the wrong thinking. What ...
by Grt2bOutdoors
Thu Jun 10, 2021 12:37 pm
Forum: Personal Investments
Topic: How much do we need?
Replies: 40
Views: 3271

Re: How much do we need?

So maybe this will explain it a little bit better... my regular check is grossing a bit over 23k a year and u can only take 401k out of it... if I do 6% then the company will do 3% but anything over 6% they won’t do anything on other than the 3%... I also make a bonus that is not a guarantee but ha...
by Grt2bOutdoors
Thu Jun 10, 2021 9:53 am
Forum: Personal Investments
Topic: How much do we need?
Replies: 40
Views: 3271

Re: How much do we need?

I have been following dave Ramsey and have 13k put back plus almost all of June July and august funded... I have 9800 in 401k but the match is horrible... we can do 6% of our regular check which isn’t even 60 bucks and get 3% max... I just maxed that out Lwcgrad08, That is the wrong thinking. What ...
by Grt2bOutdoors
Thu Jun 10, 2021 9:50 am
Forum: Personal Investments
Topic: How much do we need?
Replies: 40
Views: 3271

Re: How much do we need?

I have been following dave Ramsey and have 13k put back plus almost all of June July and august funded... I have 9800 in 401k but the match is horrible... we can do 6% of our regular check which isn’t even 60 bucks and get 3% max... I just maxed that out If 6% of your regular check isn’t even $60, ...
by Grt2bOutdoors
Thu Jun 10, 2021 9:35 am
Forum: Personal Investments
Topic: What to do about interest rates
Replies: 37
Views: 3636

Re: What to do about interest rates

Call it poor planning or bad timing. Maybe a bit of both considering rates fell like a stone during a window when I had the potential for bond calls. I have about 8% of my liquid assets coming due in CDs or munis being called in advance of maturity this year. I can reinvest back into CDs and munis ...
by Grt2bOutdoors
Wed Jun 09, 2021 10:00 pm
Forum: Personal Investments
Topic: Help needed to invest cash
Replies: 5
Views: 670

Re: Help needed to invest cash

You should invest according to your time horizon, preferred risk tolerance and then develop an asset allocation to match those requirements. As stated by Duckie, markets are frequently at all time highs. Were you to look at the level of the Dow Jones Industrial Average on September 19, 1928 and comp...
by Grt2bOutdoors
Wed Jun 09, 2021 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Anyone regret paying off mortgage early?
Replies: 1290
Views: 152139

Re: anyone regret paying off mortgage early

mrsgoldilocks, A) It is common for some of my income peers to either pay down or pay off their mortgage and assuming that they will be fully-employed continuously until retirement age. Then, they were permanently unemployed or under-employed in their 40s and 50s when their kids go to college. They ...
by Grt2bOutdoors
Wed Jun 09, 2021 9:19 am
Forum: Personal Finance (Not Investing)
Topic: Anyone regret paying off mortgage early?
Replies: 1290
Views: 152139

Re: anyone regret paying off mortgage early

I really hate myself always going back to revisit my decision. I just wonder if others' personal experience can help me settle the issue. mrsgoldilocks, A) It is common for some of my income peers to either pay down or pay off their mortgage and assuming that they will be fully-employed continuousl...
by Grt2bOutdoors
Tue Jun 08, 2021 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: How much did you spend on your kids college beyond 529?
Replies: 28
Views: 1648

Re: How much did you spend on your kids college beyond 529?

If you decide to pay for every expense during your kids' college, that is very generous, but there will be plenty of their peers taking max loans that will resent them. You know what the solution is right? Keep your mouth clamped shut. There are plenty of adult peers that look at their friends in d...
by Grt2bOutdoors
Mon Jun 07, 2021 7:07 pm
Forum: Personal Investments
Topic: PRIMECAP vs S&P500?
Replies: 38
Views: 3712

Re: PRIMECAP vs S&P500?

edudad wrote: Mon Jun 07, 2021 7:03 pm Wow, this fund looks good. Had no idea it even existed before. Stupid me was just indexing all along last 15 years!
It’s been closed for a while now, so unless your employer offers it or you already had an account then you are out of luck!
by Grt2bOutdoors
Mon Jun 07, 2021 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: UTMA mistake redeposit?
Replies: 1
Views: 185

Re: UTMA mistake redeposit?

Relax! Just put the money back with any lost interest that may have been lost as a result of money being out of the account.
by Grt2bOutdoors
Mon Jun 07, 2021 2:57 pm
Forum: Personal Investments
Topic: Let's say I want to retire - what are my expenses?
Replies: 32
Views: 3504

Re: Let's say I want to retire - what are my expenses?

How old are you when you retire? 4 percent May work for 30 years but if you plan on hanging it up in your 40’s or early 50’s you’d better plan on having a lot more saved. Healthcare can be as bare bones as you’d like but get sick once and you maybe on the hook for a lot more. Just read some of past ...
by Grt2bOutdoors
Mon Jun 07, 2021 2:51 pm
Forum: Personal Investments
Topic: 100% VTSAX until age 50?
Replies: 101
Views: 8894

Re: 100% VTSAX until age 50?

Obviously I'd rather be in the second situation than the first. But is a 70% drop drastically more likely than a 70% rise? No, but money has much more utility value when you are starving compared to situation when you need to decide between Ferrari and Lamborghini. It's called downside protection. ...