Search found 2559 matches

by rascott
Tue May 11, 2021 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: I See no Path Forward Financially
Replies: 60
Views: 4015

Re: I See no Path Forward Financially

You've at least gotten to the point of writing it all down and paying attention. That's a good first step.

You should be able to pay off your CCs in full in the next few months, no question. The car insurance is crazy.... you're paying $4k/yr. How much of that is liability vs collision?
by rascott
Mon May 10, 2021 9:12 am
Forum: Personal Finance (Not Investing)
Topic: Promotion and Salary Negotiations
Replies: 23
Views: 2987

Re: Promotion and Salary Negotiations

Update.... initial offer came in.... @ only about 5-6% higher than current comp. Nowhere near enough for me to be interested. So will have to see how negotiable they are. This is normal. It is very very rare for an internal promotion to come with a huge increase. Your best path is to gracefully dec...
by rascott
Mon May 10, 2021 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Promotion and Salary Negotiations
Replies: 23
Views: 2987

Re: Promotion and Salary Negotiations

Update.... initial offer came in.... @ only about 5-6% higher than current comp. Nowhere near enough for me to be interested. So will have to see how negotiable they are.
by rascott
Sun May 09, 2021 12:59 am
Forum: Personal Consumer Issues
Topic: Ikea bathroom fixtures/cabinets
Replies: 21
Views: 2034

Re: Ikea bathroom fixtures/cabinets

I don't understand replacement parts....a cabinet is a cabinet.

It's a box of wood. As long as the wood quality is decent why would you need to worry about anything else?

For the cost savings over custom cabinets, you could likely replace them 3x and come out even.
by rascott
Sat May 08, 2021 11:46 pm
Forum: Personal Consumer Issues
Topic: Help me choose a piano for my 10-year old
Replies: 67
Views: 4293

Re: Help me choose a piano for my 10-year old

The two pianos under consideration are Kawai K300 and Kawai K15. Anyone has any opinion about either one? Thanks You are going to buy a $10k piano for a 10 year old that's only mildly interested? Because the teacher said so? That's silly. The $1k-1500 digital pianos are totally legitimate for someo...
by rascott
Sat May 08, 2021 12:25 pm
Forum: Personal Consumer Issues
Topic: Country Club
Replies: 56
Views: 4914

Re: Country Club

For me, the main question to answer is - are we a country club family? If the answer to that is yes, then the second question is - are the members of this country club people we are comfortable with? If that answer is yes, then you've made your decision. It's a very personal decision. Me, I can't e...
by rascott
Fri May 07, 2021 8:03 am
Forum: Personal Consumer Issues
Topic: Country Club
Replies: 56
Views: 4914

Re: Country Club

I'm struggling with the same question. Where we are there are a couple country clubs. We would do a social membership, the in-laws have a membership. I do constantly wonder if it's worth it. Our HOA has a pool, we have a community gym membership for a larger outdoor pool, sports leagues, etc. They ...
by rascott
Fri May 07, 2021 7:18 am
Forum: Personal Consumer Issues
Topic: Country Club
Replies: 56
Views: 4914

Re: Country Club

There is no social membership option. Just be prepared for your monthly bills to be a lot more than the monthly dues..... particularly with 5 people there hitting the snack bar/ restaurant. My "dues" end up being only about half my monthly bill. Are all those activities included? Or are t...
by rascott
Fri May 07, 2021 7:07 am
Forum: Personal Consumer Issues
Topic: Country Club
Replies: 56
Views: 4914

Re: Country Club

Been a member of a club for a decade..... family younger than yours but gets good use out of it. Pls I golf a lot. My only worry is you are buying a full golf membership and none of you golf. Pretty rare for someone to join as a full golf member and nobody actually plays golf (yet). Can you do a soc...
by rascott
Wed May 05, 2021 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Estimating homeowner's insurance cost for house purchase
Replies: 14
Views: 792

Re: Estimating homeowner's insurance cost for house purchase

Any decent insurance agent should be able to give you a quote within a day on a specific property.
by rascott
Wed May 05, 2021 8:59 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 853
Views: 183857

Re: Bank of America/Merrill Edge - Preferred Rewards

Per email today: "We want to make you aware of an enhancement to your Premium Rewards® card. Now through December 31, 2021, as a Preferred Rewards Platinum Honors member, you will earn unlimited 3.5 points for every $1 spent on grocery store purchases, including many grocery store delivery and...
by rascott
Wed May 05, 2021 6:45 am
Forum: Personal Finance (Not Investing)
Topic: Dumb question RE (temporarily?) leaving federal employment.
Replies: 10
Views: 952

Re: Dumb question RE (temporarily?) leaving federal employment.

You do nothing. The default is the pension contribution stays in place. Only if you wanted to cash out do you take action.
by rascott
Tue May 04, 2021 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Please explain the concept of imputed rent to me like I'm a 5 year old
Replies: 55
Views: 4563

Re: Please explain the concept of imputed rent to me like I'm a 5 year old

imputed rent + capital gains - expenses equals the total return of a home. This is the formula I'm having trouble wrapping my head around and where I think the double counting occurs. Why wouldn't total return of a home be simply [capital gains - expenses]? Sure I don't pay rent when owning the hou...
by rascott
Tue May 04, 2021 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: NatGen Premier insurance
Replies: 1
Views: 167

NatGen Premier insurance

Another homeowner insurance question. I had an independent broker run a quote for me after another big price hike coming this year from Allstate. NatGen Premier was the insurer.....and is way less cost than Allstate plus has a lower deductible ($1k vs $2500 deductible). $1170 vs $2070. Auto quote wa...
by rascott
Mon May 03, 2021 9:44 am
Forum: Personal Consumer Issues
Topic: Silicon valley home insurance increase from $1400->$2200, sounds right?!
Replies: 16
Views: 1451

Re: Silicon valley home insurance increase from $1400->$2200, sounds right?!

Mine has gone up a lot in recent years..... I've had good luck getting much lower quotes using some independent agents. But haven't made the switch yet.... the most recent one was like $1300....compared to my current $2100 with Allstate. The savings was so much actually made me hesitate and do more ...
by rascott
Fri Apr 30, 2021 12:11 am
Forum: Investing - Theory, News & General
Topic: Why no love for REITs?
Replies: 206
Views: 28038

Re: Why no love for REITs?

SPG has nearly tripled since I started buying it (and recommending it here) last spring/ summer. Hope you got your tendies! Lol I don't typically buy REITs as I have a decent slice of my NW in direct ownership of real estate. But as I eventually sell off property, it'll go into a basket of REITs. It...
by rascott
Thu Apr 29, 2021 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Getting started in personal finance...do you have advice?
Replies: 18
Views: 2017

Re: Getting started in personal finance...do you have advice?

I think you are on a good path. Focus on maxing the Roths before 529s IMHO. Does your state offer a tax credit for 529 contributions? They do. I think thats our next adjustment...max out our 401k contributions and adjust what is going into 529s. Would you recommend doing 401k max and Roth max befor...
by rascott
Wed Apr 28, 2021 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Getting started in personal finance...do you have advice?
Replies: 18
Views: 2017

Re: Getting started in personal finance...do you have advice?

I think you are on a good path. Focus on maxing the Roths before 529s IMHO. Does your state offer a tax credit for 529 contributions?
by rascott
Wed Apr 28, 2021 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Promotion opportunity - use it or lose it?
Replies: 41
Views: 4083

Re: Promotion opportunity - use it or loose it?

Much more work and only a 10% bump.... pass. Unless this is a stepping stone to a further career goal.
by rascott
Wed Apr 28, 2021 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Are my expenses too high?
Replies: 130
Views: 11784

Re: Are my expenses too high?

I say "tight" because you're contributing 25% of your gross to retirement. Only on this site would that be portrayed as a problem. 19.5k 401k 19.5k 401k 6k Roth IRA 6k Roth IRA 3.5k HSA 30% gross with a blended almost 7% match. It's just that general feeling I'm not going to be able to ha...
by rascott
Wed Apr 28, 2021 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Planning with 2 Nice Pensions
Replies: 27
Views: 2859

Re: Retirement Planning with 2 Nice Pensions

I once worked (twice) with a retired O-6. He couldn't manage to ever extract himself. Returned once as a GS.... then retired again..... then was back a few years later as a contractor. Worked until months of his death. Had more money than he'd need for several lifetimes but couldn't find other aven...
by rascott
Wed Apr 28, 2021 8:19 am
Forum: Personal Finance (Not Investing)
Topic: Saving for and paying for a $5m house
Replies: 68
Views: 8643

Re: Saving for and paying for a $5m house

Start a family post- covid? Makes no sense. If you wait for a prefect time to have kids, you'll never have any.

Planning a house purchase before you are even a parent is foolish. You have no idea what you'll really want or need until you are in it for a while.
by rascott
Wed Apr 28, 2021 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Planning with 2 Nice Pensions
Replies: 27
Views: 2859

Re: Retirement Planning with 2 Nice Pensions

I once worked (twice) with a retired O-6. He couldn't manage to ever extract himself. Returned once as a GS.... then retired again..... then was back a few years later as a contractor. Worked until months of his death. Had more money than he'd need for several lifetimes but couldn't find other avenu...
by rascott
Wed Apr 28, 2021 12:44 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2526
Views: 583459

Re: Share your net worth progression

For reference, here is the latest professional study for the retirement savings by age: https://dqydj.com/retirement-savings-by-age/ Most people on this forum are definitely well beyond median numbers. The website provides a calculator to calculate your percentile. That is a very interesting link. ...
by rascott
Tue Apr 27, 2021 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Selling business, struggling with valuation
Replies: 30
Views: 1956

Re: Selling business, struggling with valuation

How many hours do you actually work in the business? If so.... are you paying yourself a reasonable salary? If not, how much would it cost to hire a manager to do what you are doing? If the $160k "profit" doesn't include any salary for the owner/ operator.... than the business doesn't rea...
by rascott
Tue Apr 27, 2021 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: Tales from this insane real estate market
Replies: 475
Views: 63924

Re: Tales from this insane real estate market

The market to buy rental properties has been silly around me with houses I wouldn't touch having multiple offers sight unseen. Just yesterday, my neighbor stopped by to let me know he's moving. Got an unsolicited offer for close to 50% more than he paid for his house like 15 months ago. The neighbo...
by rascott
Tue Apr 27, 2021 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Selling business, struggling with valuation
Replies: 30
Views: 1956

Re: Selling business, struggling with valuation

How many hours do you actually work in the business? If so.... are you paying yourself a reasonable salary? If not, how much would it cost to hire a manager to do what you are doing? If the $160k "profit" doesn't include any salary for the owner/ operator.... than the business doesn't real...
by rascott
Tue Apr 27, 2021 7:34 am
Forum: Personal Finance (Not Investing)
Topic: Career options for a burnt out CPA
Replies: 62
Views: 5536

Re: Career options for a burnt out CPA

All good suggestions.... but at the very least you should get your resume in the hands of recruiters asap and see what comes along. You clearly don't want to stick in this firm for decades to come solely for the $$ that would eventually (maybe) come from becoming partner. You know you could easily b...
by rascott
Mon Apr 26, 2021 11:46 am
Forum: Personal Consumer Issues
Topic: Getting rid of old furniture
Replies: 21
Views: 1436

Re: Getting rid of old furniture

I've never found anything that won't get snatched up for free on Craigslist
by rascott
Mon Apr 26, 2021 10:29 am
Forum: Personal Consumer Issues
Topic: In the market for new dishwasher -- what should I know? Installation fees?
Replies: 37
Views: 2163

Re: In the market for new dishwasher -- what should I know? Installation fees?

It begins and ends with Bosch. They clean great, are quiet and haven't had one die on me yet. I've put the 100 series in several homes. We really like the 3rd rack for silverware. Much better design than the traditional baskets, imo. I sort of agree. We have a Miele now, and it cleans a tiny bit be...
by rascott
Mon Apr 26, 2021 10:26 am
Forum: Personal Consumer Issues
Topic: Title insurance for cash purchase of home
Replies: 8
Views: 774

Re: Title insurance for cash purchase of home

Yes, you want it. Unfortunately looks like it's very expensive in PA. That same policy would be $850 in my state.
by rascott
Mon Apr 26, 2021 10:09 am
Forum: Personal Consumer Issues
Topic: In the market for new dishwasher -- what should I know? Installation fees?
Replies: 37
Views: 2163

Re: In the market for new dishwasher -- what should I know? Installation fees?

It begins and ends with Bosch. They clean great, are quiet and haven't had one die on me yet. I've put the 100 series in several homes. We really like the 3rd rack for silverware. Much better design than the traditional baskets, imo. I've installed them myself.... if you can do basic wiring and simp...
by rascott
Fri Apr 23, 2021 11:07 pm
Forum: Personal Consumer Issues
Topic: How long does it typically take to get used to a new mattress?
Replies: 54
Views: 3305

Re: How long does it typically take to get used to a new mattress?

We bought a highly rated bed in a box. Felt good at first, but agreed it was much too firm after a month or so. A foam mattress doesn't really break in.... even the cheap ones we've bought for kids beds have not changed in years. For our too firm foam mattress, we bought a very highly rated topper o...
by rascott
Fri Apr 23, 2021 7:27 am
Forum: Personal Finance (Not Investing)
Topic: Leaving Corporate for my own LLC
Replies: 22
Views: 1674

Re: Leaving Corporate for my own LLC

Do it..... you're still young, no kids yet. This is the time to gamble on yourself. If it fails, not gonna be that hard to find another $60k corp job..... which you don't even need as you easily live off your spouses income anyway. This is a no brainer to me. Quit. Thanks for this push! My degrees ...
by rascott
Thu Apr 22, 2021 7:04 pm
Forum: Personal Consumer Issues
Topic: Ski Resort Recommendations for the first-timers? (emphasis on resort)
Replies: 81
Views: 5246

Re: Ski Resort Recommendations for the first-timers? (emphasis on resort)

Lake Tahoe area is awfully nice. Fly into Reno and 30 minute drive. Legit resorts near Squaw Valley and Heavenly, also Incline Village. Doesn’t get cold. Heavenly is beautiful. You're way off on the 30 min commute though. More like an hour and 15 minutes from Reno airport. Tahoe is amazing. Problem...
by rascott
Wed Apr 21, 2021 10:30 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a Home in SoCal
Replies: 146
Views: 12759

Re: Buying a Home in SoCal

Sounds like the advice of divorce and move back home was the winner!
by rascott
Wed Apr 21, 2021 11:37 am
Forum: Personal Finance (Not Investing)
Topic: Leaving Corporate for my own LLC
Replies: 22
Views: 1674

Re: Leaving Corporate for my own LLC

Do it..... you're still young, no kids yet. This is the time to gamble on yourself. If it fails, not gonna be that hard to find another $60k corp job..... which you don't even need as you easily live off your spouses income anyway.

This is a no brainer to me. Quit.
by rascott
Wed Apr 21, 2021 11:30 am
Forum: Personal Finance (Not Investing)
Topic: Buyer's Market In City: To Wait or Not to Wait to Sell
Replies: 26
Views: 1595

Re: Buyer's Market In City: To Wait or Not to Wait to Sell

Young(er) people are gonna be your target buyers, and they'll be eager to return to the city once vibrant life returns to there. To think that downtown Boston (one of the nicest cities I've visited) won't see a bounce back in coming years is silly..... regardless of what the future of work looks lik...
by rascott
Wed Apr 21, 2021 4:33 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10318
Views: 750198

Re: Refinance Mega Thread

I need some help deciding what I should do. I have a rental that has about 23 years left on a 30 year 4.5% mortgage. 95k balance. The house is worth about 300k. Credit over 800 and great debt to income. I can't decide what to do. It seems like a lot of places dont want to do mortgages under 100k. T...
by rascott
Tue Apr 20, 2021 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Closing Costs
Replies: 22
Views: 1623

Re: Closing Costs

We have been doing 45 day closings here. I used lenderfi for a refi last year and found them awesome to work with (best and easiest mortgage I've done, and I've done a bunch of them) Off topic: what are you typically expecting to pay for closing costs on a refi? I paid nothing last year. Took a rat...
by rascott
Tue Apr 20, 2021 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Closing Costs
Replies: 22
Views: 1623

Re: Closing Costs

Seems outrageously high..... but you need to shop around. Actually should have shopped around prior to going under contract. Now you're a bit under the gun time wise. Go over to AIMloan.com and pop in your numbers and see what they offer. Or also check Lenderfi. No personal info needed at either to...
by rascott
Tue Apr 20, 2021 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: Closing Costs
Replies: 22
Views: 1623

Re: Closing Costs

Seems outrageously high..... but you need to shop around. Actually should have shopped around prior to going under contract. Now you're a bit under the gun time wise. Go over to AIMloan.com and pop in your numbers and see what they offer. Or also check Lenderfi. No personal info needed at either to ...
by rascott
Tue Apr 20, 2021 8:30 am
Forum: Personal Finance (Not Investing)
Topic: First time homebuying in this environment...
Replies: 59
Views: 5514

Re: First time homebuying in this environment...

People are out of their minds if they pay more than asking. It makes no sense to pay more than what an item is listed for. The next time you're out shopping, why not offer more money for the groceries you buy? Wake up folks. This stuff only exists because people pay more than they should. No one ho...
by rascott
Tue Apr 20, 2021 7:48 am
Forum: Personal Finance (Not Investing)
Topic: First time homebuying in this environment...
Replies: 59
Views: 5514

Re: First time homebuying in this environment...

If you can wait..... I'd probably wait for something approaching a more balanced market. That said.... there's nothing to say this can't continue on for a long while. The supply/ demand imbalance is extreme right now in many/ most areas. Construction costs are through the roof, and that's even if yo...
by rascott
Tue Apr 20, 2021 7:17 am
Forum: Personal Finance (Not Investing)
Topic: First time homebuying in this environment...
Replies: 59
Views: 5514

Re: First time homebuying in this environment...

For what it’s worth, I’m about to list my house. These presales arrangements seem like a waste of time and do not benefit the seller. The only way to get the highest offer is to maximize the opportunity for serious buyers to see it and bid. I plan to show a coming soon on Monday, list it on Friday,...
by rascott
Tue Apr 20, 2021 12:00 am
Forum: Personal Finance (Not Investing)
Topic: Promotion and Salary Negotiations
Replies: 23
Views: 2987

Re: Promotion and Salary Negotiations

Good afternoon.... looking for some BH advice on a possible internal promotion and negotiation. Background: consulting/ contract work. Possible Promotion to Manager. Been with firm for 12+ years. First 6 years was an individual contributor (IC) on the team I'd now be managing. Last 6 years were on ...
by rascott
Mon Apr 19, 2021 11:51 pm
Forum: Personal Finance (Not Investing)
Topic: Promotion and Salary Negotiations
Replies: 23
Views: 2987

Re: Promotion and Salary Negotiations

I just went through similar process. Super comfortable where I am now and won’t leave until it’s worth it. Tell recruiter exactly this. You should know what number you want to hit to make it worthwhile. Now take that number and add some buffer to it so worst case you still hit that number. And be f...
by rascott
Mon Apr 19, 2021 11:46 pm
Forum: Personal Finance (Not Investing)
Topic: Promotion and Salary Negotiations
Replies: 23
Views: 2987

Re: Promotion and Salary Negotiations

Thank you for the responses. Regarding the last reply. That's not an issue. This is contracted consulting work. So my position exists no matter what... if it I leave the spot a job posting will be up the next day to fill it, as it's butts in seats that pays the bills for my firm on billable hours. T...
by rascott
Mon Apr 19, 2021 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Promotion and Salary Negotiations
Replies: 23
Views: 2987

Promotion and Salary Negotiations

Good afternoon.... looking for some BH advice on a possible internal promotion and negotiation. Background: consulting/ contract work. Possible Promotion to Manager. Been with firm for 12+ years. First 6 years was an individual contributor (IC) on the team I'd now be managing. Last 6 years were on t...