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Re: Frugality regret: What thing do you regret not spending

My wife's high-school friend died of cancer last year at age 52...

We went out and bought a lake condo and a boat NOW instead of waiting until we retired so that we wouldn't have to risk that regret.
by HomerJ
Thu Apr 17, 2014 12:23 pm
 
Forum: Personal Consumer Issues
Topic: Frugality regret: What thing do you regret not spending on?
Replies: 95
Views: 11489

Re: Frugality regret: What thing do you regret not spending

Poker's post above made me think of something. As a physician, I have heard countless stories of life's regrets from people in their dying moments. They are all over the map. Not spending more time with loved ones. Not having more children. Not learning to play the piano. Not marrying the girl of t...
by HomerJ
Thu Apr 17, 2014 12:20 pm
 
Forum: Personal Consumer Issues
Topic: Frugality regret: What thing do you regret not spending on?
Replies: 95
Views: 11489

Re: Life Insurance Policy Necessary for 25 year old?

I currently have a life insurance policy that was started for me when I was a baby. The premiums are paid for by the dividends. It is now switched into my name with a cash balance of around 5k. The payout I believe is around 40k. _____________________________________________________________________...
by HomerJ
Wed Apr 16, 2014 9:40 am
 
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Policy Necessary for 25 year old?
Replies: 11
Views: 795

Re: Looking at top 1% for actionable insight

surfstar wrote:"Money can't buy happiness"


I don't know about that... I've never seen anyone sad while riding a jetski.
by HomerJ
Tue Apr 15, 2014 3:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Looking at top 1% for actionable insight
Replies: 51
Views: 4581

Re: All-inclusive resort vacation for $2K??

Cancun has them... I ran one resort out of Cranberry juice by the end of the week (sue me, I like Cranberry Juice, Grapefruit Juice, and vodka) All-inclusives are also fun because you can try drinks and food you've never tried before, and not have to waste $10 finding out you really don't like a Har...
by HomerJ
Tue Apr 15, 2014 3:35 pm
 
Forum: Personal Consumer Issues
Topic: All-inclusive resort vacation for $2K??
Replies: 16
Views: 1582

Re: Mother Of Bog! I'm Uncertain/Frightened To Buy Fund

Do not use an advisor... You cannot afford one... 1% of your money every year will be a HUGE drain.
by HomerJ
Tue Apr 15, 2014 2:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: I Really Would Appreciate Your Advice!
Replies: 72
Views: 2642

Re: Mother Of Bog! I'm Uncertain/Frightened To Buy Fund

I am retired, disabled, almost 64, and have about $1400 a month income from SSDI. I figure I need about $2500 a month to live. I should have about $270,000 to $280,000 total to invest by Summer. And I expect to start receiving an additional $21,500 a year for the next five years. So for the next 5 ...
by HomerJ
Tue Apr 15, 2014 2:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: I Really Would Appreciate Your Advice!
Replies: 72
Views: 2642

Re: Life Insurance Policy Necessary for 25 year old?

You currently have zero need for life insurance... Who suffers financially today if you get hit by a bus? I would cancel that policy, take the cash, and invest it. When you have kids in 5 years, you'll want 20-year term life insurance... You can get $1 million in coverage for around $600-$900 a year...
by HomerJ
Tue Apr 15, 2014 10:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Policy Necessary for 25 year old?
Replies: 11
Views: 795

Re: Save for 25 years = $1million?

Assume that your nephew puts all of his investments in a total world index fund. If he does that, a 5% annualized real return would be reasonable. In order to have a million dollars (inflation adjusted) by the age of 50, he then needs to invest $20,000 a year, or $1,600 a month. If he starts with $...
by HomerJ
Mon Apr 14, 2014 3:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: Save for 25 years = $1million?
Replies: 22
Views: 3959

Re: The slackening...

Got to build character any way you can... My kids have always had the junkiest cars in the high school parking lot, and they've all had to work part-time jobs at Target or Sonic to make spending money. Still, we coddle them too much... And I'm not sure that parenting matters that much... My kids are...
by HomerJ
Mon Apr 14, 2014 12:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: The slackening...
Replies: 55
Views: 5246

Re: Help deciding to surrender Variable Annuity or not

U need to see the actual illustration and realize no step up basis unlike stocks. I doubt it. Per the illustration, this would be a life annuity with a 10 year period certain. Looking at just the GMIB, the payout rate ranges from 4.73% to 5.35% depending on when the annuity is exercised. That is, 4...
by HomerJ
Sun Apr 13, 2014 11:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help deciding to surrender Variable Annuity or not
Replies: 22
Views: 1077

Re: Stock markets in free fall?

bertilak wrote:
Khanmots wrote:Half of my investments are 100% equities. The other half is 100% bonds.


Heh... Can I steal this for my sig?
by HomerJ
Sat Apr 12, 2014 12:11 pm
 
Forum: Investing - Theory, News & General
Topic: Stock markets in free fall?
Replies: 92
Views: 6476

Re: Stock markets in free fall?

Bonds are still a waste of time for young investors (<40yrs) who plan on retiring at 55 or later, even if the market drops another 30-40%. The market has risen well over that in the last few years and bonds would have been a major drag on returns. I agree. I wish I would have realized this 20 years...
by HomerJ
Sat Apr 12, 2014 12:08 pm
 
Forum: Investing - Theory, News & General
Topic: Stock markets in free fall?
Replies: 92
Views: 6476

Re: Help deciding to surrender Variable Annuity or not

They should be able to tell you the payout rate if you tell them when. Find out what the real payout is... Will do. But she'd probably be able to get a 8% SPIA on the open market at age 70... To get a SPIA that pays $43,200 a year would only cost her $540k... That GMIB number and the 6% growth are ...
by HomerJ
Fri Apr 11, 2014 2:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help deciding to surrender Variable Annuity or not
Replies: 22
Views: 1077

Re: Help deciding to surrender Variable Annuity or not

Found out that the interest rate on the GMIB and the death benefit is 6% compounded daily until age 85. Not too shabby, eh? I still don't know what the payout rate is. Isn't that calculated at the time she annuitizes?[/color] This is how they get you... That 6% number and that 338k number are MEANI...
by HomerJ
Fri Apr 11, 2014 1:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help deciding to surrender Variable Annuity or not
Replies: 22
Views: 1077

Re: Life in the Bay Area and housing costs

I don't think the good valuations here are only driven by the tech bubble. Yes, the tech growth definitely helps prices, no doubt, but the area has so many of its own draws (weather and nature in particular, but also high education and multiculturalism) that it would be considered an extremely desi...
by HomerJ
Fri Apr 11, 2014 1:06 pm
 
Forum: Personal Consumer Issues
Topic: Life in the Bay Area and housing costs
Replies: 51
Views: 3065

Re: Life in the Bay Area and housing costs

If/when the select areas of the S Bay hit the ceiling, it is almost certain that most of the the entire country will be hard harder first. Sure, it may stall out, but you can be sure that other areas will stall out faster. Why do you say that? Serious question... I don't see why other areas of the ...
by HomerJ
Fri Apr 11, 2014 1:02 pm
 
Forum: Personal Consumer Issues
Topic: Life in the Bay Area and housing costs
Replies: 51
Views: 3065

Re: A story, and a feeling of financial under-accomplishment

Angelus359 wrote:Should I get my masters degree?

I would need to take 10 classes, which I'd take 5 per year, and it'd cost about 10 grand total.


I wouldn't worry about that for now... Concentrate on getting your work skills and experience up and explore a possible Master's degree in a few years.
by HomerJ
Fri Apr 11, 2014 12:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: A story, and a feeling of financial under-accomplishment
Replies: 48
Views: 4095

Re: Mr. Money Mustache: Hero or Foolish?

"Some people have a way with words while others.... um... er.... um.... not have way, I guess..."

-Steve Martin
by HomerJ
Fri Apr 11, 2014 12:54 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23608

Re: A story, and a feeling of financial under-accomplishment

It's not where you came from but where you're going. That is what matters. Congrats on over coming so much thus far. Be proud of what you have done so far and keep pushing forward. This... If it helps at all, I didn't start my career until I was 27, at which point I had 50k in student loans... so y...
by HomerJ
Fri Apr 11, 2014 11:42 am
 
Forum: Personal Finance (Not Investing)
Topic: A story, and a feeling of financial under-accomplishment
Replies: 48
Views: 4095

Re: Life in the Bay Area and housing costs

As said: - Great weather - Great beauty - Great schools - Multicultural area - etc Again, outside of Norcal, I am 100% with you. I consider real estate to NOT be a 'investment' and more of a cost. But I would make exception for Norcal bay area. If the area doesn't even dip during the big recent hou...
by HomerJ
Fri Apr 11, 2014 11:22 am
 
Forum: Personal Consumer Issues
Topic: Life in the Bay Area and housing costs
Replies: 51
Views: 3065

Re: Life in the Bay Area and housing costs

I'd disagree with the casino part. As mentioned before, owning property in the silicon valley area, especially anything from Palo Alto to Campbell and even beyond, has been nothing but all win for anyone who has owned. EVEN in the 'downturn' - the housing prices in this territory just slowed their ...
by HomerJ
Fri Apr 11, 2014 8:59 am
 
Forum: Personal Consumer Issues
Topic: Life in the Bay Area and housing costs
Replies: 51
Views: 3065

Ooh - Media is finally checking past predictions!

Saw this on Yahoo Finance 2014 crash will be worse than 1987's: Marc Faber http://www.cnbc.com/id/101573688?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=101573688%7C2014%20crash%20will%20be%20worse Bunch of doom and gloom... BUT! At the bottom of the article was this ...
by HomerJ
Fri Apr 11, 2014 12:31 am
 
Forum: Investing - Theory, News & General
Topic: Ooh - Media is finally checking past predictions!
Replies: 4
Views: 830

Re: Mr. Money Mustache: Hero or Foolish?

People seem to take issue with the fact that he lives 'better' than the $25k/yr he's spending. I think that's a bit of a red herring because he could still live a perfectly reasonable lifestyle on $25k/yr. Well, heck I could live a perfectly reasonable lifestyle on 25k too... Can I start a blog and...
by HomerJ
Thu Apr 10, 2014 5:17 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23608

Re: Why Americans are Retiring Overseas

Puff piece or not, it is intriguing - for those thinking of Florida, Arizona, Palm Springs etc. it just might be worth considering Costa Rica or Panama or other destinations (written by a guy who just bought in Florida 8-) There is a middle tier that I would consider well before another country: [*...
by HomerJ
Thu Apr 10, 2014 4:47 pm
 
Forum: Personal Consumer Issues
Topic: Why Americans are Retiring Overseas
Replies: 109
Views: 8531

Re: Edward Jones Advisory Solutions account

I have a feeling we won't be hearing back from "ed". This is better than listening to Kramer or Suzie! I'm not going anywhere. Obviously everyone on this post loves to make money. Can we all agree that investing in an index fund is a great investment? I agree with that. There are some gre...
by HomerJ
Thu Apr 10, 2014 11:17 am
 
Forum: Investing - Help with Personal Investments
Topic: Edward Jones Advisory Solutions account
Replies: 58
Views: 10138

Re: Mr. Money Mustache: Hero or Foolish?

Not well versed on all thing's MMM, but I thought the post... http://www.mrmoneymustache.com/2013/04/25/why-should-i-be-frugal-when-im-so-rich/ and comment section were illuminating. Certainly his perspective is a better alternative to the typical American consumerist who pays no attention where th...
by HomerJ
Thu Apr 10, 2014 10:39 am
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23608

Re: Mr. Money Mustache: Hero or Foolish?

I'm going to Greece next year for my niece's wedding. I'll probably visit some very interesting historical sites, and learn more about the history of the world and mankind. I will see beautiful islands, sparkling seas, and I'll imagine how it must of looked very much the same 2000 years ago... I li...
by HomerJ
Thu Apr 10, 2014 10:36 am
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23608

Re: Mr. Money Mustache: Hero or Foolish?

I'm going to Greece next year for my niece's wedding. I'll probably visit some very interesting historical sites, and learn more about the history of the world and mankind. I will see beautiful islands, sparkling seas, and I'll imagine how it must of looked very much the same 2000 years ago... I lik...
by HomerJ
Thu Apr 10, 2014 1:24 am
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23608

Re: How are you preparing for the coming bear market

There seems to be differing defintions for how you define the end of a bear market. http://www.gold-eagle.com/editorials_12/images/doolittle050413-1.jpg Oh yeah... two 20% drops with a month in between them in 2008-2009 count as "two" bear markets. I remember thinking in Dec 2008, "W...
by HomerJ
Tue Apr 08, 2014 1:27 am
 
Forum: Investing - Theory, News & General
Topic: How are you preparing for the coming bear market
Replies: 104
Views: 7768

Re: How are you preparing for the coming bear market

Longtimelurker wrote:Isn't the whole point of the boglehead philosophy, setting an AA to match your need and ability to take risk, to prepare for a bear market?!


Yes, that is one of the main points of boglehead philosophy.
by HomerJ
Mon Apr 07, 2014 10:35 am
 
Forum: Investing - Theory, News & General
Topic: How are you preparing for the coming bear market
Replies: 104
Views: 7768

Re: How are you preparing for the coming bear market

It's like asking how are you preparing for your next automobile accident? I guess if you have automobile accidents on a regular basis it would be. Bear markets come on a regular basis? We've seen two big crashes in the last 25 years... Two automobile accidents in 25 years (especially if you have 3 ...
by HomerJ
Mon Apr 07, 2014 10:31 am
 
Forum: Investing - Theory, News & General
Topic: How are you preparing for the coming bear market
Replies: 104
Views: 7768

Re: How are you preparing for the coming bear market

It's like asking how are you preparing for your next automobile accident? I guess if you have automobile accidents on a regular basis it would be. Bear markets come on a regular basis? We've seen two big crashes in the last 25 years... Two automobile accidents in 25 years (especially if you have 3 ...
by HomerJ
Mon Apr 07, 2014 1:24 am
 
Forum: Investing - Theory, News & General
Topic: How are you preparing for the coming bear market
Replies: 104
Views: 7768

Re: Why pay off your house?

Did you also install 100k worth of solar panels so you don't have a utility bill? After all it would reduce the amount of income you need to generate.... You might only need 6k versus 8k but you also have 400k (made up number) less cash working for you. Instead it is tied up in your low return hous...
by HomerJ
Mon Apr 07, 2014 12:57 am
 
Forum: Investing - Help with Personal Investments
Topic: Why pay off your house?
Replies: 119
Views: 8422

Re: Why pay off your house?

I would prefer to have a mortgage and cash in the bank. Why? Liquidity. It is sure tough to sell a room in time of need. I did too, until I had enough to pay off my house AND have plenty of cash in the bank (or in the index fund, I should say). I wouldn't suggest to anyone to pay off only mortgage ...
by HomerJ
Sun Apr 06, 2014 10:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Why pay off your house?
Replies: 119
Views: 8422

Re: Why pay off your house?

Rufus608 wrote:Isn't housing a life-long cost?


No, it is not.

When I had a $2000/month mortgage payment.. I needed $8000 a month to live...

Now that the house is paid off, I only need $6000 a month to live.

Generating $6000 is easier than generating $8000. That is why I paid it off.
by HomerJ
Sun Apr 06, 2014 10:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: Why pay off your house?
Replies: 119
Views: 8422

Re: How are you preparing for the coming bear market

It's like asking how are you preparing for your next automobile accident?

You better be prepared right now... You don't try to time your next automobile accident... ("I'll wait until next year to buy insurance and wear my seat-belt... I don't think I'll get in an accident until then").
by HomerJ
Sun Apr 06, 2014 10:12 pm
 
Forum: Investing - Theory, News & General
Topic: How are you preparing for the coming bear market
Replies: 104
Views: 7768

Re: How are you preparing for the coming bear market

Since Bear markets happen on a regular basis there is one coming, not that anyone knows when. Is there anything you do to prepare for the coming bear market beyond "stay the course"? You should always be prepared for a bear market to start tomorrow... You pick an AA with that in mind... I...
by HomerJ
Sun Apr 06, 2014 9:32 pm
 
Forum: Investing - Theory, News & General
Topic: How are you preparing for the coming bear market
Replies: 104
Views: 7768

Re: How did you determine your "number" for retirement

I like bengal22’s comment – he / she is going at 60 and come what may. I’m kind of like that. At 58, I’m leaving the job at 61 ( if I continue to earn my way ) and have an account to live off of for a year before touching retirement. If that account is $100k short, I’ll figure out how to make it la...
by HomerJ
Sun Apr 06, 2014 2:32 am
 
Forum: Personal Finance (Not Investing)
Topic: How did you determine your "number" for retirement
Replies: 51
Views: 3277

Re: How did you determine your "number" for retirement

Ha, it's a pretty simple secret. You know that good or service you were going to buy? Don't. Wow, took a look at our budget to see what it would take to get down to $20k. Basically you have to take a chainsaw to anything that isn't life threatening. Moving helps too... There are very cheap places t...
by HomerJ
Thu Apr 03, 2014 3:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: How did you determine your "number" for retirement
Replies: 51
Views: 3277

Re: GPS with "favor interstates" option?

Get a newer Garmin... They have the options you want... plus they have traffic updates and will route you around traffic jams... That's priceless.
by HomerJ
Wed Apr 02, 2014 9:26 am
 
Forum: Personal Consumer Issues
Topic: GPS with "favor interstates" option?
Replies: 37
Views: 1328

Re: Spouses that struggle with budgets

Best is always to find a spouse that shares your financial values. Since you're past this point, it's a matter of teaching self control to someone who doesn't possess it - generally a losing battle. No doubt he "wants" to change, just like most smokers want to quit smoking. Best in this c...
by HomerJ
Tue Apr 01, 2014 3:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Spouses that struggle with budgets
Replies: 27
Views: 2232

Re: Mr. Money Mustache: Hero or Foolish?

It will be interesting to see if his family can still keep his after-tax spending to $25k this year. He's in an interesting conundrum. His whole site is based on living very frugally. But he makes a good amount of money off that site which allows him to live less frugally. I wouldn't fault him for ...
by HomerJ
Tue Apr 01, 2014 11:04 am
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23608

Re: Mr. Money Mustache: Hero or Foolish?

There are some valid criticisms here, but overall, I firmly vote "hero". I like what bhsince87 said a lot, specifically about MMM helping you think about how much is "enough". Even if you're not as extreme as him, making your own decisions about "enough" in a society a...
by HomerJ
Mon Mar 31, 2014 3:12 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23608

Re: Mr. Money Mustache: Hero or Foolish?

He's still doing enough work to live off the proceeds without dipping into his savings. But it's work according to his schedule, and with spending only $25k a year, it's not like he has to slave away all the time. Right... And that is admirable... but he's not "retired".... He cut back hi...
by HomerJ
Mon Mar 31, 2014 1:29 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23608

Re: Mr. Money Mustache: Hero or Foolish?

Personally I don't get this guy or want his lifestyle and see no way this is going to end well when he is older. Am I missing something? That said if he and his family are happy then more power to them. Oh, it's totally going to end well for him... He's doing great... making a ton of money off his ...
by HomerJ
Mon Mar 31, 2014 1:22 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23608

Re: Really confused by Bernstein

Well, the trick is, there are basic needs and then there are basic needs. Right now, my basic needs are about $5000 a month... That covers property taxes, food, utilities, etc, etc, etc. Lots of etc. that I consider basic needs to keep my current lifestyle (includes stuff like gas for my boat). I ho...
by HomerJ
Mon Mar 31, 2014 12:19 pm
 
Forum: Investing - Theory, News & General
Topic: Really confused by Bernstein
Replies: 168
Views: 12744

Re: What Book Are You Currently Reading? Part V

If you guys like science fiction, check out David Brin's Uplift Universe... Start with Startide Rising The main idea is that the universe is full of alien civilizations. Pre-sentient beings are discovered on planets, and "uplifted" (gene-splicing, etc.) to sentience by another older alien ...
by HomerJ
Sun Mar 30, 2014 3:04 pm
 
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part V
Replies: 2617
Views: 594379

Re: Buying first home in SF - gut check

Historically SF appears to be one of a few global cities with long-term, sustained, above-trend pricing growth in excess of inflation. That is, until the next big earthquake. The data does not show a sustained above-trend pricing growth - Case Schiller has been FLAT for the past 9 years - that's st...
by HomerJ
Fri Mar 28, 2014 1:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying first home in SF - gut check
Replies: 87
Views: 7036

Re: Really confused by Bernstein

I think the issue is valuations. And that this whole "art and science" of the SWR is still pretty new. Computerization is still new. And index funds haven't been around that long. So yeah, the initial studies showed that 4% was safe. Then we real-world load tested this in 2000-1 and 2008-...
by HomerJ
Fri Mar 28, 2014 12:15 pm
 
Forum: Investing - Theory, News & General
Topic: Really confused by Bernstein
Replies: 168
Views: 12744
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