Recent comments in /f/personalfinance

wild_b_cat t1_j29o1mx wrote

Reply to comment by HurryPrudent6709 in Bookkeeping question by HurryPrudent6709

Look at the math for each person. A put in 20 and got back 60. Their result is a gain of 40. B puts in zero and got back 40. Their result is the same as A's.

The way they're doing it (adding & subtracting 20) would make sense if A gave that money directly to B*.* But they didn't give the money directly to B - they put it into a shared asset. If A&B have shared ownership, then A was really giving half of that money back to themselves right away, leaving only a 10 imbalance that they were 'giving' to B. If you do it that way, then you say that B owes A that 10, so you subtract 10 from B's share and add it to A's share. And you wind up with the same 60/40 split.

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simonsays123 t1_j29nr2y wrote

Reply to Huge spike in electric bill YOY by cowpokecaleb

What is the supply rate (cents/kwh) this bill compared to last November? It should be on your bills.

In the Northeast, some areas have seen their supply rates rise to 33.89cents/kwh beginning in November compared to 14.82cents/kwh last winter.

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obie1cajoby t1_j29mdvz wrote

Reply to Edward Jones sold me by Cautious_Second7321

I've been a licensed financial planner (series 7 & 66) for 15 years. We aren't any better than just investing in low cost index funds. I tell this to my clients also. I invested my own money for years and grew it to about $100k. Then I learned how to invest into real estate and grew my portfolio to $1.3m. Learn how to buy real estate and use the proceeds to buy index funds. That's the best way to retire. I'm 40 now and feel like I could retire off real estate income tomorrow

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SimpleNo9593 t1_j29lpq3 wrote

Reply to Worth looking for a higher paying job? by pookiewook

Ya you already have a perfect setup where you are and the flexibility to adjust your schedule accordingly. Why mess that up?? When you start a new job the employer is going to keep an on on how your budget your time and how many times you leave work. When the kids grow up and become adults they aren’t going look back and say gee I wish we had an extra bathroom or a nicer kitchen or a newer mini can. They are going to say mom was always there to greet us when we got home from school . Mom always took us to our game and always cheered us on. This are memories that will last a lift time for your kids. Maybe in 5 or 10 years when your kids are older go out and consider that . To me you have a perfect life

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jgomez916 t1_j29lmha wrote

Reply to comment by pookiewook in Worth looking for a higher paying job? by pookiewook

Got it. Still as a household the income is over $200k so I would think financially there is minimal stress over providing in terms of quality of life.

I’m in the capital of CA and median household income here is only $85k so even by expensive CA standards your household is fine at over $200k.

2 years until the 3 years old are 5 will pass by so fast I’d thinking hanging onto the flexibility especially with a special needs child with an IEP would be worth it.

My household without kids it at 140k and we net $7k so I would think with $200k and 3 dependents your net would be like $11k and per Zillow I saw rents are about $3K so I presume your mortgage is under that.

Only you can truly decide if more money now is worth giving up the flexibility. I personally would not money isn’t everything.

Presumably childcare is a lot right now ( my guess is $3k based on there being 3) but in 2 years it should go down right?

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Jacrispybrisket t1_j29lh9o wrote

Reply to Edward Jones sold me by Cautious_Second7321

I would not use Edward Jones personally. They charge much higher of a management fee compared to most advisors (can be as high as 125 bps) and the advisors that work there are very hit or miss as they make their money off of selling, not actually servicing. I would look for a CFP that carries a management fee below 1%. It’s not as much about the institution as it is the advisor.

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Cautious_Second7321 OP t1_j29kso9 wrote

Reply to comment by ScoDucks89 in Edward Jones sold me by Cautious_Second7321

You’re not wrong. It’s not all about investing. I get great returns i’m happy with and agree with you 100%.

It’s the plan, course of action and knowing when you can retire. How much and from which accounts can I withdraw money from each year during retirement in a strategic way. What are the tax implications. Am I investing enough do I need to do more, etc.

I’m basically just maxing out a 401K and IRA each year not knowing where that will get me.

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wooden_bread t1_j29klbc wrote

Reply to Huge spike in electric bill YOY by cowpokecaleb

At least for my power company, they will bill you based on an estimate for quite a while and then surprise you with a catch up bill when they actually get off their ass and check the meter.

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jgomez916 t1_j29jqo6 wrote

Reply to Worth looking for a higher paying job? by pookiewook

Per the 1.85 times comment I put you husband at $160,000 and you at $87,000 for a household income of $247,000

Is that correct?

I do not have kids but I think the flexibility is worthy staying another 2-4 years. They are only small once and you guys are already essentially at $250k.

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