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Re: College savings costs / number

On the other hand, if your child gets into Harvard, it will cost you $500,000. No, your kid will go free to a different school. Studies have shown that people who get ACCEPTED to Harvard but don't go end up just as successful as those who actually attend Harvard. In other words, Harvard has nothing...
by HomerJ
Thu Feb 12, 2015 11:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: College savings costs / number
Replies: 120
Views: 6378

Re: College savings costs / number

I sent both my daughters to University of Kansas... In-state school... One got a journalism degree, the other a nursing degree... Total cost about $15k a year for first one (2004-2007), and about $20k a year for the second one (2010-2014)... Nursing school is a little more expensive, that's not all ...
by HomerJ
Thu Feb 12, 2015 1:03 am
 
Forum: Personal Finance (Not Investing)
Topic: College savings costs / number
Replies: 120
Views: 6378

Re: College savings costs / number

On the other hand, if your child gets into Harvard, it will cost you $500,000. No, your kid will go free to a different school. Studies have shown that people who get ACCEPTED to Harvard but don't go end up just as successful as those who actually attend Harvard. In other words, Harvard has nothing...
by HomerJ
Thu Feb 12, 2015 12:58 am
 
Forum: Personal Finance (Not Investing)
Topic: College savings costs / number
Replies: 120
Views: 6378

Re: How much is a safe car worth?

I'm reminded of the study where 93% of drivers rated themselves as better than the median. Overconfidence Effect :thumbsup Some people think we humans are as perfect as God: I could see an argument if your inexperienced children were driving your cars, but you cannot say that safety features (like ...
by HomerJ
Wed Feb 11, 2015 9:18 am
 
Forum: Personal Consumer Issues
Topic: How much is a safe car worth?
Replies: 170
Views: 9005

Re: Poll: Is MMM a force for good?

I think he definitely does more good than harm (even though I dislike his accounting practices), so I voted yes.
by HomerJ
Tue Feb 10, 2015 9:03 pm
 
Forum: Investing - Theory, News & General
Topic: Poll: Is MMM a force for good?
Replies: 34
Views: 2910

Re: I'm not a bad Boglehead

anonforthis wrote:We spend about $10 a week on scratch offs and powerball tickets. We do not spend any money on beverages nor alcohol therefore this expense is well worth it. At least we get some good dreams out of this expense.


You could get the same dreams with 1 ticket a week. Why buy $10 worth?
by HomerJ
Tue Feb 10, 2015 5:07 pm
 
Forum: Personal Consumer Issues
Topic: I'm not a bad Boglehead [buying Powerball ticket]
Replies: 101
Views: 6156

Re: Mr. Money Mustache: Hero or Foolish?

With all that in mind I've already informed my employer I'm scaling back to half time later this year for at least one year (we will be enjoying a change in location for that year). I'm undecided right now as to whether after that year I will be half, 3/4 or full time. What kind of job do you have ...
by HomerJ
Tue Feb 10, 2015 4:57 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 419
Views: 62764

Re: How to make this fair: gifting to kids with different me

I didn't grow up in a home where it was all about everybody getting the same treatment or reward as the other. My sibling and i were often treated differently and sometimes one got more than the other, or something entirely different. Even as adults my sibling gets more help and frankly needs it mo...
by HomerJ
Tue Feb 10, 2015 3:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to make this fair: gifting to kids with different means
Replies: 108
Views: 8897

Re: Mr. Money Mustache: Hero or Foolish?

I have not quit work entirely, but I downsized to working part-time (80%) this year. I ran the numbers repeatedly, and they made sense, and I pulled the trigger. MMM and his enthusiasm helped me make that decision, because my coworkers sure didn't. Many of them are focused on 30-year retirement dat...
by HomerJ
Tue Feb 10, 2015 2:42 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 419
Views: 62764

Re: Mr. Money Mustache: Hero or Foolish?

With all that in mind I've already informed my employer I'm scaling back to half time later this year for at least one year (we will be enjoying a change in location for that year). I'm undecided right now as to whether after that year I will be half, 3/4 or full time. What kind of job do you have ...
by HomerJ
Tue Feb 10, 2015 2:40 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 419
Views: 62764

Re: How much is a safe car worth?

Great analogy! We've got one life. It's a no brainier to protect it. Then you shouldn't drive at all. If it's worth $20,000 to reduce risk from 0.005% to 0.0049%, then it must be worth millions to reduce the risk to 0.0% So get a job that lets you work from home, even if it pays less, and costs you...
by HomerJ
Tue Feb 10, 2015 1:44 pm
 
Forum: Personal Consumer Issues
Topic: How much is a safe car worth?
Replies: 170
Views: 9005

Re: How much is a safe car worth?

a safe car is worth your life and those of your family I know that a lot of BH are in favor of driving an old car until the wheels fall off For me, i disagree. modern safety features and accident avoidance features (blind spot monitor, rear view camera, etc) have saved me from several accidents - a...
by HomerJ
Tue Feb 10, 2015 1:22 pm
 
Forum: Personal Consumer Issues
Topic: How much is a safe car worth?
Replies: 170
Views: 9005

Re: Mr. Money Mustache: Hero or Foolish?

He needs to post that living on $25k while also doing $10k worth of construction work throughout the year for extra fun stuff is a great life, not that living on $25k is a great life. Here's his response to your concerns: http://www.mrmoneymustache.com/2013/02/13/mr-money-mustache-vs-the-internet-r...
by HomerJ
Mon Feb 09, 2015 5:45 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 419
Views: 62764

Re: How to make this fair: gifting to kids with different me

I'm kid A and my brother is kid B. My parents wanted to help my brother out with a significant gift once but they sat down with me to explain their reasoning first and making sure I was okay with it. I think I was in my 20's at the time. I was happy to agree with them because I didn't need the mone...
by HomerJ
Mon Feb 09, 2015 4:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to make this fair: gifting to kids with different means
Replies: 108
Views: 8897

Re: Mr. Money Mustache: Hero or Foolish?

And getting 15k in imputed rent and so on. I'm okay with the unstated (but well known if you read his blog) that it's "25k with a paid-off house". That's cool. That's understood... But there's stuff left out. For one, he just sold his house, and down-sized, spending $80k on construction m...
by HomerJ
Mon Feb 09, 2015 3:29 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 419
Views: 62764

Re: Mr. Money Mustache: Hero or Foolish?

And you don't get to fly to Hawaii for 2 weeks with your whole family on a $25k budget. Why not? IIRC, he stayed in someone's vacation rental in exchange for doing work on said rental. So while technically he bartered his labor in exchange for lodging, he didn't actually spend money on lodging. Exc...
by HomerJ
Mon Feb 09, 2015 2:30 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 419
Views: 62764

Re: Mr. Money Mustache: Hero or Foolish?

He is a poet, an essayist and a modern day messiah on frugal living, feeling free from the burdens of THINGS and the result is that you are a happier person. Really? He's free from THINGS? He doesn't have a computer or Internet? He doesn't have a house? He doesn't have furniture? He doesn't have qu...
by HomerJ
Mon Feb 09, 2015 11:52 am
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 419
Views: 62764

Re: Mr. Money Mustache: Hero or Foolish?

Riceman wrote:He publishes his yearly expenses, line by line. They are comprehensive.


Where can we find these? Does he have his expenses listed for 2014 yet?
by HomerJ
Mon Feb 09, 2015 11:24 am
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 419
Views: 62764

Re: Mr. Money Mustache: Hero or Foolish?

Hi, I just started reading MMM in the past week. Has there been any actual hard factual authentication that MMM lives the actual lifestyle he espouses, and can back up his claims with any sort of audited financial statements, copies of bank statements, or copies of tax transcripts? I like much of w...
by HomerJ
Mon Feb 09, 2015 12:48 am
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 419
Views: 62764

Re: Is it worth it? [Should I retire?]

boroc7 wrote:No, if you have more than you need (saving every month), then what's the point?


This. And I'm assuming the OP has SOME savings... $90k pension that covers all your expenses, and you don't even have to touch one cent of your savings...

How do people get such good deals at 55?
by HomerJ
Mon Feb 09, 2015 12:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Is it worth it? [Should I retire?]
Replies: 57
Views: 4790

Re: Is it worth it? [Should I retire?]

I plan to retire later next year at 55 with a 90k federal pension with COLA. The pension will cover my expenses plus allow me to save some money each month. However, I recently found out if I delayed my retirement by 4 months to the end of 2016, I could increase my monthly retirement check by anoth...
by HomerJ
Mon Feb 09, 2015 12:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Is it worth it? [Should I retire?]
Replies: 57
Views: 4790

Re: talk me out of it - investing in oil

USO is a horrible ETF, as nisi has shown... and the tax issues (if you invest with a taxable account) are rather complex... Look up K-1 tax form... Here, I'll do it for you... http://www.investopedia.com/ask/answers/09/k-1-tax-form.asp We had to deal with a K-1 tax form once... Didn't even receive t...
by HomerJ
Sun Feb 08, 2015 10:30 pm
 
Forum: Investing - Theory, News & General
Topic: talk me out of it - investing in oil
Replies: 50
Views: 4731

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

obgyn65 wrote:I regret not spending more on my life.


What does that mean?
by HomerJ
Fri Jan 30, 2015 9:36 am
 
Forum: Personal Consumer Issues
Topic: Frugality regret: What thing do you regret not spending on?
Replies: 133
Views: 21758

Re: What experts say about $5,000 watches

Ironically, a Rolex should be THE Boglehead watch. It's actually on the lower end of the price range for what you get - in-house movement, all-Swiss manufacture, history, pedigree, reliability, build quality. Your average sports Rolex is quite a ways cheaper than say an AP or Patek. You get one, it...
by HomerJ
Mon Jan 26, 2015 12:37 am
 
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 920
Views: 179899

Re: Should I Declare Victory and Pack It In?

I know this may be off topic, but I find this (having >$2.5 million investment net worth) VERY impressive! How did you do it and how long did it take you to build up such wealth with that kind of income? Did you miss the part about making 500k/yr and being 55 (i.e. 25+ years of working)?:) Granted ...
by HomerJ
Sat Jan 24, 2015 11:22 am
 
Forum: Investing - Help with Personal Investments
Topic: Should I Declare Victory and Pack It In?
Replies: 173
Views: 16966

Re: Gotta Be a Bear Market Coming

The economy looks strong with growth up and unemployment down. Nonetheless, I'e got to think this bull market is getting somewhat aged. While I won't resort to market-timing, I am bracing - perhaps irrationally - bracing for a major correction or bear market. You should ALWAYS be prepared (bracing)...
by HomerJ
Fri Jan 23, 2015 11:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: Gotta Be a Bear Market Coming
Replies: 64
Views: 7774

Re: Grandfather wanting to transfer portfolio to kids. Ques

Anon1234 wrote:ps. i always thought you were 30s or 40s.


I'm 45... I was just trying to prove a point (weakly) by showing the view from the other side... :)
by HomerJ
Fri Jan 23, 2015 4:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Grandfather wanting to transfer portfolio to kids. Question
Replies: 67
Views: 3131

Re: Grandfather wanting to transfer portfolio to kids. Ques

I'm 80, and I have all my money in a simple 3-fund Vanguard portfolio... I want to give my money to my kid now, and I tried to explain why the 3-fund portfolio was simple, easy to manage, generates a decent return, and is less volatile. My daughter (and her son-in-law) told me that they have no inte...
by HomerJ
Fri Jan 23, 2015 4:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: Grandfather wanting to transfer portfolio to kids. Question
Replies: 67
Views: 3131

Re: Should I Declare Victory and Pack It In?

Once I read "2.7" with an "M" after it, you didn't need to say anymore. Wow, you're done. All your hard work paid off, there is no need to do this anymore (unless you want to). Go retire. Relax and take it easy. The vast majority of people will never be in your situation. You'd ...
by HomerJ
Thu Jan 22, 2015 10:54 am
 
Forum: Investing - Help with Personal Investments
Topic: Should I Declare Victory and Pack It In?
Replies: 173
Views: 16966

Re: "When you've won the game, stop playing"

Actually I wonder if the most worrisome point about 2008 is the miss-perception that market crashes recover quickly and do no harm especially if one simply rebalances into them. There is a lot or rhetoric out there about how wonderful it is to "buy stocks cheap." But then, I am one of tho...
by HomerJ
Wed Jan 21, 2015 2:49 pm
 
Forum: Investing - Theory, News & General
Topic: "When you've won the game, stop playing"
Replies: 83
Views: 8611

Re: Best watch for around $5,000?

I thought we had already established many posts ago that you're not buying a luxury watch for the functionality any more than you lament the lack of calories in a fine dining meal or the alchohol content in a vintage first growth wine or the resolution in a painting. I guess I don't understand how ...
by HomerJ
Wed Jan 21, 2015 12:25 pm
 
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 920
Views: 179899

Re: Best watch for around $5,000?

Aptenodytes wrote:I cross time zones a lot


Ah I forgot about time zones... Pretty nice that our smart-phones automatically adjust that for us (mine even shows the time back home as well as local time).
by HomerJ
Wed Jan 21, 2015 11:52 am
 
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 920
Views: 179899

Re: Best watch for around $5,000?

Also, for $5,000 do you need to fiddle with it at the end of every month, or does it know "Thirty days hath September" and take care of that automatically? I did a quick google search and apparently $5000 watches DON'T know what month it is, and you do have to set the date 5 times a year ...
by HomerJ
Wed Jan 21, 2015 11:36 am
 
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 920
Views: 179899

Re: The "Less Than" a Million $ Club

I agree completely with this sentiment. For those of us who are fortunate enough to have pensions, "the number" is irrelevant. I'm working longer and not paying particular attention to "the number". Every year I work, my pension grows. I expect to be able to live very comfortabl...
by HomerJ
Tue Jan 20, 2015 11:50 am
 
Forum: Personal Consumer Issues
Topic: The "Less Than" a Million $ Club
Replies: 73
Views: 11586

Re: The "Less Than" a Million $ Club

Is it odd that I don't have a number? I'm just saving as much as possible and spending only what I need. I've never sat down and figured out a number. At some point, you should determine a "number" or you may end up working years longer than you have to, or forgoing pleasures that you cou...
by HomerJ
Tue Jan 20, 2015 11:45 am
 
Forum: Personal Consumer Issues
Topic: The "Less Than" a Million $ Club
Replies: 73
Views: 11586

Re: Best watch for around $5,000?

However, to answer your question, I don't understand the word "nice" as you are using it. I assume the market has set the value of that watch at $100,000. I assume there is a reason for that. I don't know if there's always a reason or if people are just stupid. http://www.artsumo.com/blog...
by HomerJ
Tue Jan 20, 2015 11:38 am
 
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 920
Views: 179899

Re: The "Less Than" a Million $ Club

It just doesnt take that much to live if you have the house paid off. Food and utilities and a little fun are pretty cheap. Real estate taxes are not! :annoyed Heh, you and I always end up at real estate taxes... :) One can always move. And usually if you're moving from an area with high real estat...
by HomerJ
Tue Jan 20, 2015 11:27 am
 
Forum: Personal Consumer Issues
Topic: The "Less Than" a Million $ Club
Replies: 73
Views: 11586

Re: Best watch for around $5,000?

Alex Frakt wrote:
HomerJ wrote:Heh, if all they do is go up in value, maybe you should have bought one of those $100,000 watches you saw the other day... :)

Aren't the $100,000 watches 20x nicer than the $5000 watches?

No, it's a log scale.


Touche` :)
by HomerJ
Tue Jan 20, 2015 1:28 am
 
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 920
Views: 179899

Re: The "Less Than" a Million $ Club

It just doesnt take that much to live if you have the house paid off. Food and utilities and a little fun are pretty cheap.
by HomerJ
Tue Jan 20, 2015 1:10 am
 
Forum: Personal Consumer Issues
Topic: The "Less Than" a Million $ Club
Replies: 73
Views: 11586

Re: Best watch for around $5,000?

Heh, if all they do is go up in value, maybe you should have bought one of those $100,000 watches you saw the other day... :)

Aren't the $100,000 watches 20x nicer than the $5000 watches?
by HomerJ
Tue Jan 20, 2015 12:02 am
 
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 920
Views: 179899

Re: Best watch for around $5,000?

As for wearing "man-jewelry", this watch is absolutely gorgeous! http://storage.googleapis.com/attachments.outofpawn.com/attachments/52551/large/yk065.jpg?1364248863 I see zero difference between these two watches. Except that yours cost 150x more. http://s24.postimg.org/rxuj1usl1/timex.j...
by HomerJ
Mon Jan 19, 2015 3:42 pm
 
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 920
Views: 179899

Re: is the pitch for index-based annuities childish?

See Vanguard s dVA with GLWB. Pretty good description on how the product works. https://personal.vanguard.com/us/whatweoffer/annuities/guaranteed-lifetime-withdrawal-benefit From that page... Here's what you get when you cash out the money... (First number is single person, second number is joint) ...
by HomerJ
Mon Jan 19, 2015 1:11 pm
 
Forum: Investing - Theory, News & General
Topic: is the pitch for index-based annuities childish?
Replies: 15
Views: 792

Re: is the pitch for index-based annuities childish?

It's an option play. Limit your downside risk while preserving the upside potential. If you don't understand insurance as a derivative to the asset, then you shouldn't be in this arena. See Vanguard s dVA with GLWB. Pretty good description on how the product works. Disclaimer: We have dVA and dFIa,...
by HomerJ
Mon Jan 19, 2015 1:05 pm
 
Forum: Investing - Theory, News & General
Topic: is the pitch for index-based annuities childish?
Replies: 15
Views: 792

Re: What's Your International % and Why?

MaddMaxx wrote:most of them (U.S companies) do business internationally.


This. 10% of my portfolio is International stocks (That's 20% of my stocks, since I'm 50/50 stocks/bonds)
by HomerJ
Mon Jan 19, 2015 11:18 am
 
Forum: Investing - Theory, News & General
Topic: What is the international portion of your portfolio and why?
Replies: 140
Views: 11986

Re: Best watch for around $5,000?

Amy Farrah Fowler: Jewelry? Seriously? Sheldon you are the most shallow, self-centered person I have ever met. Do you really think that another transparently-manipu... OH, IT'S A TIARA! A tiara; I have a tiara! Put it on me! Put it on me! Put it on me! Put it on me! Put it on me! Put it on me! Put ...
by HomerJ
Mon Jan 19, 2015 11:14 am
 
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 920
Views: 179899

Re: Should I Declare Victory and Pack It In?

Work if you love it but otherwise go do the f$c# what you want to!!! You have enough money to do as you want. Go SCUBA the Virgin Islands or hike the Pacific Crest Trail, but don't sit around wondering about retirement, you have plenty of money. They may not have enough money to do what they want t...
by HomerJ
Sat Jan 17, 2015 2:34 am
 
Forum: Investing - Help with Personal Investments
Topic: Should I Declare Victory and Pack It In?
Replies: 173
Views: 16966

Re: Should I Declare Victory and Pack It In?

Work if you love it but otherwise go do the f$c# what you want to!!! You have enough money to do as you want. Go SCUBA the Virgin Islands or hike the Pacific Crest Trail, but don't sit around wondering about retirement, you have plenty of money. They may not have enough money to do what they want t...
by HomerJ
Fri Jan 16, 2015 11:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I Declare Victory and Pack It In?
Replies: 173
Views: 16966

Re: Should I Declare Victory and Pack It In?

My thoughts are mostly how you can shift expenses from $200K to about $100K all at once unless you had $100K of college senior expenses and they are now gainfully employed? Even $200 dinners and $100 wine do not easily add up to $100K and I eat out quite a lot. This. If you can live on $100k, you s...
by HomerJ
Fri Jan 16, 2015 11:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I Declare Victory and Pack It In?
Replies: 173
Views: 16966

Re: Should I Declare Victory and Pack It In?

OP, what are your annual expenses right now? Are you currently spending a $100k a year? or are you spending more? That's where you start... What are your expenses... I have no idea if you've "won" with $2.7 million until you tell me your expenses. If you're used to spending $200k a year, y...
by HomerJ
Fri Jan 16, 2015 2:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I Declare Victory and Pack It In?
Replies: 173
Views: 16966

Re: When your spouse isn't quite as frugal as you

I drive a cheap Honda Civic so I don't have to worry about the small stuff.

Saving $10,000 on my car means I can waste $3650 a year on little junk if I want to ($10 a day) - (although I don't spend quite that much... probably waste $200 a month on junk so $2400)
by HomerJ
Wed Jan 14, 2015 3:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: When your spouse isn't quite as frugal as you
Replies: 94
Views: 8780
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