MD/VA/DC Golfers - Ten Seconds or Less

[baddomes]

Not that anyone asked, but I will add that the biggest problem for most people I see isn't investment strategy, it's that they don't save enough of their paycheck. I don't feel like I save nearly enough and I'm way ahead of the vast majority of people I talk with. I'd say people who contribute the 5% to 401k and get the 5% company match are probably better than average, and that's not close to enough (unless your salary is ridiculous and that means you are maxing out the 401k!). If any of you are spending more on golf than you are putting toward a retirement account, you need to re-evaluate your plans.

 

This. I'd also add - buy a house. A townhouse. A condo, something. I'm stunned at the people I know in the area that are still renting in their late 30s/early 40s, still paying obscene rents that are well over what they would pay on a 30 yr fixed. Even something small, that you own, that you can take the mortgage interest deduction on - is better than renting all things being equal.

 

This drives me crazy. I know zero people in DC who have bought a house or condo or other without help from their parents/other beneficiaries. Maybe the help came in the form of a down-payment, maybe the help came in the form of graduating from college/grad school debt free. The reason people are still renting in their 30's is because they didn't have help.

 

DC how much in student debt did you graduate with? Did you get any help from your family with the down-payment? Your wife's family? When did you buy your first house?

 

I'm not hating on people who came from money. But I am hating on people who came from money who act like everyone else is stupid because they didn't come from money.

[TheCityGame]

Oh, here's the course tour. . .

 

http://www.usga.org/content/usga/home-page/galleries/2016-u-s--women-s-amateur-course-tour.html

[baddomes]

Taper tip. And I think they're ~.25" short.

 

[baddomes]

Went to the range for a good practice session last night. Was really grooving the irons after getting warmed up. Hooked up the skypro to Fabb's old titleist with x100s and my clubs with dynalite xp to compare. The only noticeable difference was tempo was slower with the x100s. Using the eye test, dispersion was probably a bit better with the x100s, but I definitely didn't hit as many flush, which might be more a factor of the clubhead (Titleist 735 cb vs JPX 800 Pro). I was hitting the 800 Pros solidly, but definitely still pull hooking some.

 

Now, do I re-shaft the JPX 800 Pros with X100s? Fabb, were those built at standard length? The PW seemed about 1/2" shorter than my current one. Do you know if they were tapered or parallel tip? I have regular s300s in the GW and 4 iron, so x100s in the 5-PW would be ok I think.

 

Looking back on the skypro and comparing some old iron swings (pre lessons) vs last night, my swing has changed a lot. I used to be about 10* inside and 3* outside at the half-back and half-down points. Now I'm consistently around 0* and -1*, respectively. My keys at this point are just trusting the swing and focusing on the basics like keeping my head down. I'm close, which I know sounds insane after lots of rounds in the high 80s.

 

even if you stayed in the flex you're using now, switching from Dynalite XP to Dynamic Gold is a pretty significant change.

 

I'm a total homer for DG, never even considered using another iron shaft.

 

You're right. I got a DGS300 put in my 4 iron after the Capitol Cup and like it a lot. Also have that shaft in MTN's old 50* GW. Maybe that's the way to go here. Might be time to go see if Jack has any laying around.

[SullGolf]

This drives me crazy. I know zero people in DC who have bought a house or condo or other without help from their parents/other beneficiaries. Maybe the help came in the form of a down-payment, maybe the help came in the form of graduating from college/grad school debt free. The reason people are still renting in their 30's is because they didn't have help.

 

My wife and I were lucky enough to graduate debt free, and I agree with that. We also have two incomes.

 

If you want to buy any detached house that is in a decent neighborhood, kinda near or within the Beltway, and has good schools, you are staring at $700k. If you sacrifice on any of those you can save money, but you are still looking at $400-500k minimum. Probably easier for people who don't have to work downtown DC. But in any case, if you want to put down that mythical 20% downpayment, you are staring at $100k cash before any other fees.

 

I think solo I could have bought some sort of 1 or 2 bedroom condo, which is basically an equivalent space to a 1 or 2 bedroom apartment. Couldn't have come close to the place we live at now, which scares the s*** out of me if my wife decides she ever wants to be a stay at home mom.

 

Anyway, I get what DC is saying. Our mortgage payment plus utilities are about 50% higher than what we paid for 1 bedroom apartment, but we have 2x the space. And the mortgage deduction gets us back about half that increase, if not a bit more than that. So just ballpark it and say we pay 25% more per month to have a much bigger space in the same general neighborhood, but also get some equity each month. It's a good deal, but one that has a really high upfront entry fee.

[TheCityGame]

Renting vs. buying is complicated.

 

When you're JUST TALKING MONEY WISE, it's not as much a slam dunk as people think.

 

OK, you get an interest deduction, but you know what. . .you're still paying interest. That's throwing money away same as renting. There are people around here paying interest as much as some people's rents.

 

Houses appreciate generally, but not as much as the market historically.

 

OTOH, you can buy them with leverage. That's good!!! :)

 

OTOH, you buy them with leverage. That's BAD!!!! :(

 

Even IF Domes is sitting on 50K that he could use for a down payment, just so he can have a $400,000 mortgage -- he's paying roughly $16,000 interest on the first year (before deduction).

 

And then, if Dome's payment is higher than his rent (say $3000 vs. $1800), you need to evaluate the long term returns of putting that extra $1200 a month into the market at 5-7%.

 

And, paying taxes, and for a new roof, and new water heater, and window treatments, etc etc.

[2moreTerps]

The "term" investing has gotten really narrow. It's not just 401k, mutual funds, stock, etc.

 

There are other options that you don't have to be super wealthy to get into. There are commercial property crowd sourcing type things with a minimum investment of 10k. I rent out my old condo. There's certainly risk in several different ways (money, time, legal, etc) but that's diversification to me.

[jhbangas]

The most important investment decision you can make is the lawyer who drafts your prenup.

[dcmidnight]

This drives me crazy. I know zero people in DC who have bought a house or condo or other without help from their parents/other beneficiaries. Maybe the help came in the form of a down-payment, maybe the help came in the form of graduating from college/grad school debt free. The reason people are still renting in their 30's is because they didn't have help.

 

My wife and I were lucky enough to graduate debt free, and I agree with that. We also have two incomes.

 

If you want to buy any detached house that is in a decent neighborhood, kinda near or within the Beltway, and has good schools, you are staring at $700k. If you sacrifice on any of those you can save money, but you are still looking at $400-500k minimum. Probably easier for people who don't have to work downtown DC. But in any case, if you want to put down that mythical 20% downpayment, you are staring at $100k cash before any other fees.

 

I think solo I could have bought some sort of 1 or 2 bedroom condo, which is basically an equivalent space to a 1 or 2 bedroom apartment. Couldn't have come close to the place we live at now, which scares the s*** out of me if my wife decides she ever wants to be a stay at home mom.

 

Anyway, I get what DC is saying. Our mortgage payment plus utilities are about 50% higher than what we paid for 1 bedroom apartment, but we have 2x the space. And the mortgage deduction gets us back about half that increase, if not a bit more than that. So just ballpark it and say we pay 25% more per month to have a much bigger space in the same general neighborhood, but also get some equity each month. It's a good deal, but one that has a really high upfront entry fee.

 

Domes if you truly know zero people who have bought a house without financial help from their families, that in and of itself is more surprising to me or else you have a lot of friends with wealthy families. I've had no help from anyone along the way. When I first moved to DC I lived in Shirlington for 3 years. And not hipster-2016 Shirlington, mid 90s ghetto Shirlington. But I saved money to buy the place I ended up buying (2004). Its not a cool place. Its not huge. Its - gasp - outside the beltway. I worked in DC for a long time and had long commutes to Dept of Energy, the Hill and the Pentagon - (and still carry student loans for two degrees).

 

But - people wont do that. They wont go outside of a very narrowly definied area that they are shopping in. They wont downsize. They want a big kickass house in the walking friendly neighborhood thats five minutes from work and all that good stuff. Which is fine, I dont begrudge anyone for having a list of things they will/wont do, I mean I think everyone wants those things in the end. But dont put all those stipulations on the discusssion and then say - see, people cant afford to buy a house, these houses start at $750,000.

 

Sorry/not sorry, but if someone really wants to buy a house and is in the workforce for 15-20 years - they can buy a house. Maybe its not the McMansion on the golf course three minutes from the office that they were hoping for. Maybe they have to drive a little farther. But they can afford to buy a house.

[Puppetmaster]

When I first moved to DC I lived in Shirlington for 3 years. And not hipster-2016 Shirlington, mid 90s ghetto Shirlington.

 

Side discussion. I remember those days, because I used to live by the Landmark Mall and then moved to the S. Glebe & Quaker Ln area. Hung out at Bungalow Billiards a bit. Shirlington is a lot different now.

[dcmidnight]

When I first moved to DC I lived in Shirlington for 3 years. And not hipster-2016 Shirlington, mid 90s ghetto Shirlington.

 

Side discussion. I remember those days, because I used to live by the Landmark Mall and then moved to the S. Glebe & Quaker Ln area. Hung out at Bungalow Billiards a bit. Shirlington is a lot different now.

 

LOL we probably ran into each other, I lived on Four Mile Run where the super nice condos are now and hung out there a lot.

[jhbangas]

DC, if someone was in the workforce for 15-20 years post college and was looking to buy their first house, that means they would be renters in their late 30s to early 40s. So back to your original point...

[TheCityGame]

Which hole is #18 at University of Maryland?

 

The long par 4, or the par 5?

[Terphack]

Which hole is #18 at University of Maryland?

 

The long par 4, or the par 5?

Long par 4

[jhbangas]

Which hole is #18 at University of Maryland?

 

The long par 4, or the par 5?

 

The one where you hit 5i off the tee.

 

(long 4).

[pquarta1]

i also know very few people who purchased a first home without help from parents, trust funds, inheritance, you name it. I do know a few. I will say that me and my wife got PhDs and didn't make a real income until we were 30 (a lot of our friends were in this boat) so good luck buying property with that late start with no help. It also means we didn't start investing seriously until 30. I agree with just about everything City said concerning property being a relatively poor investment, and target age retirement funds. I've got one of those as well as the ol' Army civilian pension. My Daddy dumped money into a 529 for my daughter's college. He loves her more than me, and I don't blame him.

 

You know what's not a good investment? Getting ripped and dropping 30 bones on wings and a burger with onion straws.

 

 

[eagle1997]

You know what's not a good investment? Getting ripped and dropping 30 bones on wings and a burger with onion straws.

 

a moment's pleasure on the lips, a hateful lifetime on those mannips.

[GooseHook]

It's split- I know a bunch of couples that own but most are doing it on the joint income after renting as a couple for a year or two. Others are still saving, depending on the amount of student debt. One couple has a MBA (partially reimbursed) and dental school loans to pay down. However, on the other hand my gf and her three siblings all got free private college tuition and "getting started money" that would satisfy the majority of a down payment. I went to a state school because I knew I'd be paying for it and it's still a decent chunk of change to pay that debt.

 

I know that I easily could have bought by now @30 had I committed to saving the cash, but when you're paying for other expenses it is tough to save a comfy down payment while maintaining an emergency fund. I don't like the idea of PMI or a low down payment mortgage very much. However, I've been smart about where I rent and my monthly payments have been less than a projected mortgage might be.

[FAbb]

fabb:

 

(((o)))

 

 

[FAbb]

We're still going on house wars in here.

 

Lets move on to something else, like grilling.

 

[pquarta1]

You know what's not a good investment? Getting ripped and dropping 30 bones on wings and a burger with onion straws.

 

a moment's pleasure on the lips, a hateful lifetime on those mannips.

 

Pretty sure the mannips are beloved. I eat like a dick for all of you. Because I care.

[pquarta1]

Let's talk politics instead....

[Kent01putt]

I couple of thoughts;

Save early and as much as you can

Invest in some high risk early and slow it down after you retire, but not before.

NEVER PANIC it always comes back

Own the property --- always.

HAVE A PLAN - use a financial advisor - your not as smart as you think.

The more money you have the more discretion in investments you can make.

Money makes money

[FAbb]

Golf Talk Wednesday:

 

Which holes at UMD do you do the following off the tee?

 

Definitely hit driver

Definitely not hit driver

Maybe hit driver

[baddomes]

Abortions: Cool or not cool?

[Kent01putt]

Golf Talk Wednesday:

 

Which holes at UMD do you do the following off the tee?

 

Definitely hit driver

Definitely not hit driver

Maybe hit driver

 

All of them but par 3's

[SullGolf]

The most important investment decision you can make is the lawyer who drafts your prenup.

 

Prenup? My wife makes more than me, suckers. I'm going to be getting alimony.

[dcmidnight]

The most important investment decision you can make is the lawyer who drafts your prenup.

 

Prenup? My wife makes more than me, suckers. I'm going to be getting alimony.

 

As always, Sully knows where its at.

[jhbangas]

Abortions: Cool or not cool?

 

Guillain Barre: Cool or not cool?

[SullGolf]

Other surprise of the day: PQ has a PhD? How did I not know that after playing a bunch of times together? I knew about davechen, but that's because he's asian. I bet Eagle and Puppet have PhD's too. Any other smarty pants out there?