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Help With Employment Process

My wife worked for a major retailer, full time, for 10 years. The pay was lousy but the family health insurance made it a winner, and she liked the job until pressures from a shrinking industry forced out many of the full timers in favor of cheaper (no bennies) part timers. So she left the job at th...
by Goodman60
Sat Aug 02, 2014 4:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help With Employment Process
Replies: 4
Views: 469

Re: Trusts for grown kids

If important money is involved, consultation with a lawyer competent in the trust and estate law of the relevant state would almost certainly be worth the cost. I would want a good deal more information than has surfaced in this discussion before giving legal advice to the op. General advice, yes. ...
by Goodman60
Sun Jul 07, 2013 7:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Trusts for grown kids
Replies: 29
Views: 2797

Re: Deja vu: Bond funds lose money every year

What's different this time is the magnitude of the potential losses compared to prior periods. Bond yields are starting from close to zero this time.
by Goodman60
Sat Jul 06, 2013 3:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Deja vu: Bond funds lose money every year
Replies: 54
Views: 5406

Re: Why 4 Percent Annual Withdrawals are Still Safe

It sounds like an alternate title could be: "You Probably Won't Live to 95, So Why Worry?"
by Goodman60
Sat Jul 06, 2013 2:53 pm
 
Forum: Investing - Theory, News & General
Topic: Why 4 Percent Annual Withdrawals are Still Safe
Replies: 38
Views: 3395

Re: Portability, Bypass Trusts, Basis Step-ups, etc.

I don't disagree. But it would just seem that if they accumulated this much this late in life and still haven't made an estate plans, they're PROBABLY going to shy away from anything that seems complex. But if the OP can get them to do it, he certainly should. I'm just saying if he CANNOT, a simple ...
by Goodman60
Fri Jul 05, 2013 6:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Portability, Bypass Trusts, Basis Step-ups, etc.
Replies: 18
Views: 1749

Fidelity GWLB (Guar Lifetime Withdrawal Benefit)

A friend asked me about the Fidelity Guaranteed Lifetime Withdrawal Benefit. It appears to be an annuity. Can anyone explain this product? What are the pros and cons?
by Goodman60
Fri Jul 05, 2013 2:50 pm
 
Forum: Investing - Theory, News & General
Topic: Fidelity GWLB (Guar Lifetime Withdrawal Benefit)
Replies: 3
Views: 488

Re: Portability, Bypass Trusts, Basis Step-ups, etc.

I'm no estate attorney and BSteiner ALWAYS gives good advice here. But it sounds like your parents are going to recoil at complexity. That being said, PAYABLE UPON DEATH/TRANSFERABLE UPON DEATH accounts probably is the easiest to understand, allows them continued lifetime control, and will at least ...
by Goodman60
Fri Jul 05, 2013 11:54 am
 
Forum: Personal Finance (Not Investing)
Topic: Portability, Bypass Trusts, Basis Step-ups, etc.
Replies: 18
Views: 1749

Re: 2% 2-year CD

I tried to find this through all the links provided and can find nothing.
by Goodman60
Wed Jul 03, 2013 10:31 am
 
Forum: Investing - Theory, News & General
Topic: 2% 2-year CD
Replies: 12
Views: 2904

Re: Star Gazing Doesn't Help Your Return

Isn't there a current "mainstream" financial press writer who once wrote a book or two on investing based on astrology?
by Goodman60
Fri Jun 14, 2013 9:45 am
 
Forum: Investing - Theory, News & General
Topic: Star Gazing Doesn't Help Your Return
Replies: 5
Views: 920

Re: Premium Products That Are Worth It To You

My THERMOPEN arrived today. Fabulous. Thank you for the recommendation.
by Goodman60
Fri Jun 14, 2013 9:18 am
 
Forum: Personal Consumer Issues
Topic: Premium Products That Are Worth It To You
Replies: 361
Views: 40353

Re: Is 2% (1.8%) the new 4%?

So are you saying this: Mr. Pfau says 1.8% is the inflation adjusted SWR number. But that assumes a 1% advisor fee. So the real number for Bogleheads is 2.8%. Right? No so punishing as merely 1.8%. And if this is true, the advisor fee amounts to 33% of a non-Boglehead's annual spending amount. In th...
by Goodman60
Fri Jun 14, 2013 9:14 am
 
Forum: Investing - Theory, News & General
Topic: Is 2% (1.8%) the new 4%?
Replies: 72
Views: 4677

Re: Is 2% (1.8%) the new 4%?

I just listened to this podcast. One of the things Tressider talks about is how badly the situation is for someone who retired in 2000 and used a 4% withdrawal rate with annual inflation adjustments. I'm curious, has anyone done the numbers on that with a 50/50 or maybe 40/60 portfolio?
by Goodman60
Thu Jun 13, 2013 11:11 pm
 
Forum: Investing - Theory, News & General
Topic: Is 2% (1.8%) the new 4%?
Replies: 72
Views: 4677

Re: Is 3% the new 4%

What happens after a bad stock market year? I retired with $2M on 4/1/08. My twin also has $2M then, but works exactly one year longer. It's now 4/1/09. We both now have about $1.6M. I'm taking about $80,000 but how does the money know he can only take $64,000?
by Goodman60
Wed Jun 12, 2013 7:16 pm
 
Forum: Investing - Theory, News & General
Topic: Is 3% the new 4%
Replies: 148
Views: 9737

Re: Is 3% the new 4%

For most people 2% is an oppressive number and perhaps more detrimental than 4%, which is more oppressive than the old 5 and 6 % numbers. Because they give up saving. Running out of money after 15-20 years at 4% is way better than retiring broke to begin with because retirement seemed unattainable. ...
by Goodman60
Tue Jun 11, 2013 1:07 pm
 
Forum: Investing - Theory, News & General
Topic: Is 3% the new 4%
Replies: 148
Views: 9737

Re: Is 3% the new 4%

MaryMom The only true Safe Withdrawal rate is the annuity (SPIA) rate (technically, the inflation linked SPIA rate-- but those are relatively rare). Even if you ignore the risk of insurance company failure, this is STILL a problem for high net worth investors in taxable (or even traditional IRA) ac...
by Goodman60
Tue Jun 11, 2013 10:30 am
 
Forum: Investing - Theory, News & General
Topic: Is 3% the new 4%
Replies: 148
Views: 9737

Re: Is 3% the new 4%

SnapShots wrote: There's no perfect SWR. Cutting expenses and being flexible in spending is the best advice.


+1
by Goodman60
Tue Jun 11, 2013 10:27 am
 
Forum: Investing - Theory, News & General
Topic: Is 3% the new 4%
Replies: 148
Views: 9737

Re: Is 3% the new 4%

TIPS won't work like this for large taxable accounts if inflation heats up. The actual effect on withdrawal rates is second-order and fairly limited, since you'd primarily be spending principal. In terms of liquidity, since taxes are due on phantom interest, one would need to plan accordingly or he...
by Goodman60
Tue Jun 11, 2013 10:26 am
 
Forum: Investing - Theory, News & General
Topic: Is 3% the new 4%
Replies: 148
Views: 9737

Re: Is 3% the new 4%

What safe asset today keeps up with inflation, doesn't fluctuate in value, can be bought in sufficient quantities and either doesn't have adverse tax consequences or can be held in a tax-advantaged account? ibonds and SPIAs seem the most promising, but they fail on at least one criteria. TIPS held ...
by Goodman60
Mon Jun 10, 2013 8:36 pm
 
Forum: Investing - Theory, News & General
Topic: Is 3% the new 4%
Replies: 148
Views: 9737

Re: Used Hondas & Toyotas

Personally, I think the differences in the cars for the model years themselves has a big influence on if it is "worth it" to buy new or not. For example I wouldn't buy a 2012 Civic, it got so much criticism that even though it was a redesign, they did another redesign for 2013 which every...
by Goodman60
Mon Jun 10, 2013 7:17 pm
 
Forum: Personal Consumer Issues
Topic: Used Hondas & Toyotas
Replies: 41
Views: 4108

Transactional Existence vs Experiential Existenene

A friend's adult daughter pointed out something to me that might be worth discussion here: The difference between transactional existence and experiential existence. One relative of hers lives for the next new toy...car, TV, bike, electronic...and another likes that stuff but mainly lives for winter...
by Goodman60
Mon Jun 10, 2013 2:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Transactional Existence vs Experiential Existenene
Replies: 1
Views: 244

Re: Is 3% the new 4%

Stock market doubles in 3 years. We have people thinking 2.5% SWR is the new normal. Can someone fill me in what was being said between September 2008 and March 2009? Because I think it would be hilarious. While I know that past performance =/= future performance, we have the Trinity study that say...
by Goodman60
Mon Jun 10, 2013 11:05 am
 
Forum: Investing - Theory, News & General
Topic: Is 3% the new 4%
Replies: 148
Views: 9737

Re: Is 3% the new 4%

The comments above about cat food with 5% are ridiculous; the vast majority of people could have taken 5% or more and been fine. The vast majority of people could ave saved a substantial sum, over time, by forgoing fire insurance in their home. But the consequences of being in the small unlucky gro...
by Goodman60
Sun Jun 09, 2013 10:09 pm
 
Forum: Investing - Theory, News & General
Topic: Is 3% the new 4%
Replies: 148
Views: 9737

Re: Is 3% the new 4%

The comments above about cat food with 5% are ridiculous; the vast majority of people could have taken 5% or more and been fine. The vast majority of people could ave saved a substantial sum, over time, by forgoing fire insurance in their home. But the consequences of being in the small unlucky gro...
by Goodman60
Sun Jun 09, 2013 9:41 pm
 
Forum: Investing - Theory, News & General
Topic: Is 3% the new 4%
Replies: 148
Views: 9737

Cutco Knives

On the "premium products" thread, Cutco knives keeps coming up. I'd like to get the basics...which knifes would be best for say a 4-6 knife basic set. For preparing food...not for the table. (Steak knives I have.) what about used on EBay. Can I buy them that way then send them for free sha...
by Goodman60
Sun Jun 09, 2013 9:26 pm
 
Forum: Personal Consumer Issues
Topic: Cutco Knives
Replies: 17
Views: 2802

Re: Is 3% the new 4%

I think Rick Ferri's "old fashioned" idea to live off the dividends and interest, currently 2-3% depending on asset allocation, makes sense and is simple to follow. And roughly follows SWR theory. If you are a little older, you might occasionally spend down a little principal (for a new ca...
by Goodman60
Sun Jun 09, 2013 9:21 pm
 
Forum: Investing - Theory, News & General
Topic: Is 3% the new 4%
Replies: 148
Views: 9737

Re: Free Cars for Life [POLL]

cheese_breath wrote:
Goodman60 wrote:While it would be nice in this instance, it's unreasonable to expect every state to mirror PA laws. Each state determines it's own. For example, some states don't tax income. Should I expect PA to abolish it's income tax laws because of them?


I agree...but am just surprised.
by Goodman60
Sat Jun 08, 2013 9:03 pm
 
Forum: Personal Consumer Issues
Topic: Free Cars for Life [POLL]
Replies: 77
Views: 4437

Re: Free Cars for Life [POLL]

cheese_breath wrote:It's just part of the cost of owning the car.


Not in Pennsylvania.
by Goodman60
Sat Jun 08, 2013 4:24 pm
 
Forum: Personal Consumer Issues
Topic: Free Cars for Life [POLL]
Replies: 77
Views: 4437

Re: Free Cars for Life [POLL]

How would I expect it to work? And why would I expect it to work differently? Because unlike TV's, cars are generally traded. It's one of the few (only?) consumable items that generally retains a substantial portion of the original purchase price and is sold before it becomes worth nothing. I guess ...
by Goodman60
Sat Jun 08, 2013 4:18 pm
 
Forum: Personal Consumer Issues
Topic: Free Cars for Life [POLL]
Replies: 77
Views: 4437

Re: Premium Products That Are Worth It To You

Someone mentioned SPYDERCO knifes. I never heard of them so I looked them up. Shockingly expensive. And they don't appear to be table knifes. What are they used for besides fishing and hunting? What might an average (non hunter or fisherman) consumer like me use them for?
by Goodman60
Sat Jun 08, 2013 2:50 pm
 
Forum: Personal Consumer Issues
Topic: Premium Products That Are Worth It To You
Replies: 361
Views: 40353

Re: Premium Products That Are Worth It To You

sounds like a lot of overpriced stuff, just sayin' for the cars: isn't high quality and American made an oxymoron414k To address your two points: 1. Overpriced is a very subjective term. As you progress thru net worth thresholds, fewer things are overpriced....so maybe we're at different thresholds...
by Goodman60
Sat Jun 08, 2013 2:45 pm
 
Forum: Personal Consumer Issues
Topic: Premium Products That Are Worth It To You
Replies: 361
Views: 40353

Re: Free Cars for Life [POLL]

I get that. I am just trying to confirm that the state gets the full sales tax rate on the full sale amount every time someone buys any car, new or used? There is never a credit for the value of the used car. Wow. That chills the car market.
by Goodman60
Sat Jun 08, 2013 2:43 pm
 
Forum: Personal Consumer Issues
Topic: Free Cars for Life [POLL]
Replies: 77
Views: 4437

Re: Free Cars for Life [POLL]

You also have to pay sales tax on the full purchase price every time you buy a car in Michigan. No offset for the trade in value of the old vehicle. How can this be? If this is true, there would be huge advantage in the used car market. And how much is this sales tax? If just a few percent maybe it...
by Goodman60
Sat Jun 08, 2013 2:21 pm
 
Forum: Personal Consumer Issues
Topic: Free Cars for Life [POLL]
Replies: 77
Views: 4437

Re: Used Hondas & Toyotas

That's what I did a few years ago. Civics depreciated so little that the cost per year for a new Civic driven for eight years was less than the cost for a three-year-old Civic driven for five years, so I bought a new one to get the benefit of three extra years with a car under warranty. The car is ...
by Goodman60
Sat Jun 08, 2013 2:18 pm
 
Forum: Personal Consumer Issues
Topic: Used Hondas & Toyotas
Replies: 41
Views: 4108

Re: Free Cars for Life [POLL]

You also have to pay sales tax on the full purchase price every time you buy a car in Michigan. No offset for the trade in value of the old vehicle. How can this be? If this is true, there would be huge advantage in the used car market. And how much is this sales tax? If just a few percent maybe it...
by Goodman60
Sat Jun 08, 2013 12:55 pm
 
Forum: Personal Consumer Issues
Topic: Free Cars for Life [POLL]
Replies: 77
Views: 4437

Re: Used Hondas & Toyotas

Often discussed here is the premium charged for used Hondas and Toyotas...does it therefore stand to reason that the spread between new a Toyota/Honda and a "gently" used model, such as a 2011 or 2012 might be so narrow as to make it more worthwhile to: (a) minimize any used vehicle risk ...
by Goodman60
Sat Jun 08, 2013 12:53 pm
 
Forum: Personal Consumer Issues
Topic: Used Hondas & Toyotas
Replies: 41
Views: 4108

Re: Free Cars for Life [POLL]

Some cars drop more steeply at the start. I bought a year-old Buick for $22K that was $38K new. The mileage was high for its age (18k miles) but it should last me a lot of years. I keep them until they get to 120K miles or so. I like year-old cars with great reliability ratings that depreciate like...
by Goodman60
Fri Jun 07, 2013 11:31 pm
 
Forum: Personal Consumer Issues
Topic: Free Cars for Life [POLL]
Replies: 77
Views: 4437

Re: Greenspan: Stock market downside "quite limited"

Wasn't he the same guy who declared "irrational exuberance" in 1996 before the market had a huge run? And wasn't he the same guy who "banked" on the free market controlling risk in the housing lender business?
by Goodman60
Fri Jun 07, 2013 5:23 pm
 
Forum: Investing - Theory, News & General
Topic: "Stock market downside quite limited"
Replies: 25
Views: 3364

Re: Premium Products That Are Worth It To You

TomatoTomahto wrote:
Goodman60 wrote:Add another...the "CONTIVA" coffee thermos. Can be bought at COSTCO but elsewhere as well. You can turn it upside down and shake it and there is zero drip. Like a sealed unit of hot coffee.

Contigo?


Whoops! Yeah, thanks!
by Goodman60
Fri Jun 07, 2013 4:52 pm
 
Forum: Personal Consumer Issues
Topic: Premium Products That Are Worth It To You
Replies: 361
Views: 40353

Re: Free Cars for Life [POLL]

Not directly answering this question of this post but an interesting factoid that I use as rule of thumb: cars have an approximate "financial half life" of 3 years. Meaning that if you buy any car at a fair market price...new or used...it will be worth about half in 3 years. And in 3 more...
by Goodman60
Fri Jun 07, 2013 4:50 pm
 
Forum: Personal Consumer Issues
Topic: Free Cars for Life [POLL]
Replies: 77
Views: 4437

Re: Free Cars for Life [POLL]

I have a friend that does something similar and it can possibly work. Of course it is never 'free' but you get pretty darn close to it. He has a car broker license which allows him to go to exclusive auto auctions. He only bids on luxury cars that are 2-3 years old which are still under warranty. H...
by Goodman60
Fri Jun 07, 2013 4:48 pm
 
Forum: Personal Consumer Issues
Topic: Free Cars for Life [POLL]
Replies: 77
Views: 4437

Re: Free Cars for Life [POLL]

Goodman60, I like your idea of an automotive "half-life". As you mentioned, the half-life period is different depending on the car. One huge factor in determining the half-life you didn't mention is the amount of options on the car. For example, a base model will have a longer half-life t...
by Goodman60
Fri Jun 07, 2013 4:43 pm
 
Forum: Personal Consumer Issues
Topic: Free Cars for Life [POLL]
Replies: 77
Views: 4437

Re: Premium Products That Are Worth It To You

Add another...the "CONTIVA" coffee thermos. Can be bought at COSTCO but elsewhere as well. You can turn it upside down and shake it and there is zero drip. Like a sealed unit of hot coffee.
by Goodman60
Fri Jun 07, 2013 3:22 pm
 
Forum: Personal Consumer Issues
Topic: Premium Products That Are Worth It To You
Replies: 361
Views: 40353

Re: Free Cars for Life [POLL]

Not directly answering this question of this post but an interesting factoid that I use as rule of thumb: cars have an approximate "financial half life" of 3 years. Meaning that if you buy any car at a fair market price...new or used...it will be worth about half in 3 years. And in 3 more ...
by Goodman60
Fri Jun 07, 2013 3:19 pm
 
Forum: Personal Consumer Issues
Topic: Free Cars for Life [POLL]
Replies: 77
Views: 4437

Re: Free Cars for Life [POLL]

How can there be "No votes" for LEASING ? Zero?? This place is packed with rich people and nobody leases? I find that unbelievable. Almost all the rich people I know (and even more than just the rich ones) lease their cars and tell everyone what a great decision it was. Personally, I don'...
by Goodman60
Fri Jun 07, 2013 3:13 pm
 
Forum: Personal Consumer Issues
Topic: Free Cars for Life [POLL]
Replies: 77
Views: 4437

Re: Free Cars for Life [POLL]

Leasing is typically for people who want to drive a more expensive car than they can afford to purchase, those who don't have enough saved for a down payment and taxes, or those who want to be in a new car every 2-4 years. I have leased cars in the past for many of the reasons listed above, but pro...
by Goodman60
Fri Jun 07, 2013 3:12 pm
 
Forum: Personal Consumer Issues
Topic: Free Cars for Life [POLL]
Replies: 77
Views: 4437

Re: Free Cars for Life [POLL]

One of my employees back in the 1990s used to do somewhat like Ramsey suggests. He made a hobby of it. He would read the want ads in the paper every day in detail and make calls as needed as his job was intense but included periods of waiting for the computer. He would buy 3-5 older cars or small t...
by Goodman60
Fri Jun 07, 2013 3:11 pm
 
Forum: Personal Consumer Issues
Topic: Free Cars for Life [POLL]
Replies: 77
Views: 4437

Re: Free Cars for Life [POLL]

What about the "ick" factor? Have you ever shopped cars with 100,000+ miles on them? I recently helped a young friend in med school look for a car within her $7000 budget (this was a gift). We couldn't get past the smell of most of the cars. In the end I recommended something TOTALLY unBog...
by Goodman60
Fri Jun 07, 2013 12:52 pm
 
Forum: Personal Consumer Issues
Topic: Free Cars for Life [POLL]
Replies: 77
Views: 4437

Re: Premium Products That Are Worth It To You

I saw Gillette razors. I'm the opposite...I buy GOOD NEWS blue plastic razors for about 47 cents on Ebay in bulk. They last 15 days (I use 2 a month) if you dry them. Just as good as the $3-$4 blades. To me at least.
by Goodman60
Thu Jun 06, 2013 10:12 pm
 
Forum: Personal Consumer Issues
Topic: Premium Products That Are Worth It To You
Replies: 361
Views: 40353

Re: Mats for Car

Goodman, Does your current driver-side floor mat have a grommet which fits into a hook mounted to the floor at the left and/or right side nearest the driver seat? Most Toyota products have such a hook and grommet arrangement to prevent the carpet from sliding forward under or near the accelerator. ...
by Goodman60
Thu Jun 06, 2013 6:04 pm
 
Forum: Personal Consumer Issues
Topic: Mats for Car
Replies: 11
Views: 1242
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