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Re: Livesoft can you explain how u can do this?

The trick, as I understand it, is to have a bunch of money in your taxable accounts, and you live off that for a few years (so zero income). Then you convert just enough from your Traditional IRA that your income stays just below the point where you have to start paying income taxes.
by HomerJ
Wed Nov 26, 2014 2:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Livesoft can you explain how u can do this?
Replies: 47
Views: 4173

Re: Random life events

What random or serendipitous events had the most effect on the course of your financial life? I've often found it amazing that people fall into the paths they take through chance, and I wonder how that has affected the Bogleheads community. Divorce....unequivocally. Taught me to be frugal beyond wh...
by HomerJ
Wed Nov 26, 2014 1:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Random life events
Replies: 34
Views: 2868

Re: Random life events

Met my wife on a blind date (this was before Internet dating). That moment of luck changed everything about my life. I owe my career to her (Her best friend's husband got me a job at his tiny tech company (10 employees) which didn't pay well at all, but gave me enough experience to start my career i...
by HomerJ
Wed Nov 26, 2014 1:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Random life events
Replies: 34
Views: 2868

Re: Been out of market since 2008 and can't get back in

I have wealth outside of market. I reinvest in my own company. I put $50K in my 401K. The advise I was seeking was only for 401K investments. My assets outside of my retirement are significantly above whatever my retirement will be. Then it really doesn't matter what you do with your retirement mon...
by HomerJ
Wed Nov 26, 2014 1:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: Been out of market since 2008 and can't get back in
Replies: 52
Views: 4994

Re: Life changing decision... advices needed!

I would be able to meet my investing goal in 8 years (my IPS tells me to pour 1.5M in the market, goal that would be met in 8 years, then forget about it for 15-20 years, meanwhile work part-time 2-3 days/week and enjoy life); going to fellowship, with the gross salary cut that would ensue would ex...
by HomerJ
Wed Nov 26, 2014 11:13 am
 
Forum: Personal Finance (Not Investing)
Topic: Life changing decision... advice needed!
Replies: 48
Views: 4552

Re: Life changing decision... advices needed!

It seems you have two good options. Whichever you choose, you will be fine. However, you have strong preference for emergency medicine. To pursue that will delay your reaching your investment goal by 3 to 5 years. Seems like it will be far more than that... More like 5-8 years. OP, are you complete...
by HomerJ
Wed Nov 26, 2014 11:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Life changing decision... advice needed!
Replies: 48
Views: 4552

Re: New Tony Robbins Book on Financial Freedom

http://business.tonyrobbins.com/an-important-note-of-caution/ In 2010, he warned that people might want to get out of the stock market. He is really annoying with his "insider" stuff... He's so over-the-top I can't believe anyone listens to this guy. From the video: "I've had the uniq...
by HomerJ
Tue Nov 25, 2014 6:20 pm
 
Forum: Investing - Theory, News & General
Topic: New Tony Robbins Book on Financial Freedom
Replies: 70
Views: 12538

Re: Living below my means, means…

To me "Living below your means" means that over time as my income increases I don't increase my spending to match it. I often tell people that my wife and I still have the same lifestyle we had when we were in our 30's (we're in our 50's now). That's LBYM to me. This. When you get a raise...
by HomerJ
Tue Nov 25, 2014 5:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Living below my means, means…
Replies: 32
Views: 2599

Re: How should wife counter salary offer within current co.?

C4NT wrote:Now the only problem is that we used to be close to each other in salary, these past few years she has been pulling away. I'm not sure how I am going to get over it. Oh wait.... :moneybag !


LOL... My wife has always made more than me.... I highly recommend it... :)
by HomerJ
Tue Nov 25, 2014 4:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: How should wife counter salary offer within current co.?
Replies: 60
Views: 5429

Re: Been out of market since 2008 and can't get back in

Very little of this post makes sense to me Retirement Account 1 Million in money market. Add appx 50K each year. 44 Yrs Old Self Employed. Low 7 figure salary. Bulk of assets outside of market Not planning on living on money in retirement account when retire. low 7-figure salary is $1 million a year...
by HomerJ
Tue Nov 25, 2014 1:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Been out of market since 2008 and can't get back in
Replies: 52
Views: 4994

Re: Girlfriend with a LOT of Student debt.

If you love her and she loves you, then stay with her. Finding a significant other who loves you unconditionally is difficult in today's world. However, if this is not the case, I say let some other guy handle the problem. You have lived your life avoiding debt, and it will eat at you every single ...
by HomerJ
Tue Nov 25, 2014 1:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Girlfriend with a LOT of Student debt.
Replies: 166
Views: 13301

Re: Dealing with pressure for "social donations" at work

I don't understand the problem here. Is it possible that it's just OP's first time working in a highly compensated job, so OP is unfamiliar with general business culture? I've worked in business/finance my whole career. I have never had a job at which the highly compensated employees, of which I am...
by HomerJ
Tue Nov 25, 2014 1:57 am
 
Forum: Personal Consumer Issues
Topic: Dealing with pressure for "social donations" at work
Replies: 167
Views: 9496

Re: Dealing with pressure for "social donations" at work

This reminded me of the person who, when the group dinner check arrives, insists on inspecting the bill personally and then starts digging change out of their pocket so that they don't pay one penny more than they are required to, instead of just throwing a couple of $20s into the pot with everyone...
by HomerJ
Tue Nov 25, 2014 1:51 am
 
Forum: Personal Consumer Issues
Topic: Dealing with pressure for "social donations" at work
Replies: 167
Views: 9496

Re: 23 year old... Can I afford a Rolex?

Wolkenspiel wrote:
XtremeSki2001 wrote:I bought a replica Rolex GMTII for ~$350. No one can tell the difference.


Post some pictures of your fake, and I'm sure someone will be happy to dispel that notion.


The trick is to keep your arm moving all the time, so no one can look too closely at it. :)
by HomerJ
Mon Nov 24, 2014 5:17 pm
 
Forum: Personal Consumer Issues
Topic: 23 year old... Can I afford a Rolex?
Replies: 167
Views: 11493

Re: Fitbit, Vivofit, or other?

It is rough with kids. We have a 2.5yr old and the 2nd due in the spring, we both work full-time. Because someone has to be home with the kid, I have to get up at 4:30am so that I can be back before 6am so that my wife can go to the gym. I've always found a way to exercise, it's been a huge part of...
by HomerJ
Mon Nov 24, 2014 10:32 am
 
Forum: Personal Consumer Issues
Topic: Fitbit, Vivofit, or other?
Replies: 55
Views: 2044

Re: Fitbit, Vivofit, or other?

i have the Jawbone Up, a freebie from a conference. I don't think it is considered a leading choice, but I can say that I like the battery life (about a week), which seems to be its main competitive advantage. Vivofit (Garmin makes them) has a battery that lasts a YEAR (no lighted display, so you c...
by HomerJ
Sun Nov 23, 2014 11:41 pm
 
Forum: Personal Consumer Issues
Topic: Fitbit, Vivofit, or other?
Replies: 55
Views: 2044

Re: 23 year old... Can I afford a Rolex?

Driving on the freeway. Seriously, your car doesn't have a clock in it? My first (and only) new car didn't have a clock because I thought spending $100 on a clock was ridiculous. And that was 20 years ago, before I had a cell phone. Now I buy used cars, so I don't get the option to decline certain ...
by HomerJ
Sun Nov 23, 2014 10:55 pm
 
Forum: Personal Consumer Issues
Topic: 23 year old... Can I afford a Rolex?
Replies: 167
Views: 11493

Re: 23 year old... Can I afford a Rolex?

The problem I have is that is it SO MUCH MORE... Paying 2x the normal price of an item could be justified by quality. Maybe even 5x... But you can get a decent watch for less than $50... So you're paying 100x more for the Rolex... It sounds as crazy to me as someone buying a $50,000 TV that is nearl...
by HomerJ
Sun Nov 23, 2014 3:58 pm
 
Forum: Personal Consumer Issues
Topic: 23 year old... Can I afford a Rolex?
Replies: 167
Views: 11493

Re: How should wife counter salary offer within current co.?

The problem with trying to negotiate in a situation like this is you have no leverage. My experience is promotional increases over 10% are unusual. I am not saying they are unheard of, just not the norm. But going to a new company, salary increases over 10% ARE the norm... Hmm... how come companies...
by HomerJ
Sun Nov 23, 2014 1:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: How should wife counter salary offer within current co.?
Replies: 60
Views: 5429

Re: How should wife counter salary offer within current co.?

HR probably doesn't have a lot of room. Talk to the hiring manager, whoever will be her direct supervisor. This person will have more power to change the offer. HR has plenty of room when you're getting hired from the outside though... I never understood why companies lowball their internal people ...
by HomerJ
Sat Nov 22, 2014 11:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: How should wife counter salary offer within current co.?
Replies: 60
Views: 5429

Re: How should wife counter salary offer within current co.?

Jack FFR1846 wrote:Take the job at the offered amount

Search, interview, get better offer, leave

Simple as that


This.
by HomerJ
Sat Nov 22, 2014 11:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: How should wife counter salary offer within current co.?
Replies: 60
Views: 5429

Re: What would be the investing strategy for a coming crash?

I get off the tracks in that scenario, but that's just me. Some walking down railroad tracks stay the course and ignore the noise. Not sure what they recommend in the case of a visual sighting of said train. The problem is that you might never see the train coming, just a bunch of people telling yo...
by HomerJ
Sat Nov 22, 2014 10:46 pm
 
Forum: Investing - Theory, News & General
Topic: What would be the investing strategy for a coming crash?
Replies: 81
Views: 6669

Re: What would be the investing strategy for a coming crash?

It's a good idea to ALWAYS have an Asset Allocation that you could live with if a 50% crash happens tomorrow. Do not try to figure out when that 50% crash will happen... Assume it will start tomorrow, and be prepared today. Do not try to time the market. It cannot be done. Don't make changes to your...
by HomerJ
Sat Nov 22, 2014 1:04 am
 
Forum: Investing - Theory, News & General
Topic: What would be the investing strategy for a coming crash?
Replies: 81
Views: 6669

Re: how to make money like a billionaire

ArthurO wrote:still can find some 3% deals but yield needs to be streached to 7 or 10 years, I prefer 5, but will streach duration to get the 3%.


Then inflation is definitely a real risk for you.
by HomerJ
Thu Nov 20, 2014 10:16 pm
 
Forum: Investing - Theory, News & General
Topic: how to make money like a billionaire
Replies: 116
Views: 9573

Re: how to make money like a billionaire

great depression was the closest drop to 90% I mention and noone was killing each other... people just lost lots of money and stayed in line is soup kitchens just to eat, I chose 90% loss as a hypothetical example that downside should be accounted for. And in 100% equity portfolio 90% drop means fr...
by HomerJ
Thu Nov 20, 2014 10:09 pm
 
Forum: Investing - Theory, News & General
Topic: how to make money like a billionaire
Replies: 116
Views: 9573

Re: Advice needed for next 10 years: Save, spend borrow?

1) Some said to cut retirement spending. I may end up doing that, but I plan to exhaust other options first. The only option I'm not sure about is using a HELOC. In the past I have used a HELOC as short-term money. Currently, my HELOC is at 3% (and tax-deductible). I wouldn't mind using it a bit if...
by HomerJ
Thu Nov 20, 2014 12:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advice needed for next 10 years: Save, spend borrow?
Replies: 27
Views: 3987

Re: Extreme Generosity / Limiting Net Worth

Oh man, if we were staying in the Northeast we would blow through $106k like tissue paper. Our burn rate here is $95k, and we are renters with only one young child right now, taking no vacations and almost never eating out. It's crazy. Just rent and health insurance add up to more than the median i...
by HomerJ
Thu Nov 20, 2014 11:03 am
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 10071

Re: Extreme Generosity / Limiting Net Worth

But our ultimate destination is likely to be a southern US city with low cost of living. When I saw nice home, I mean a ~$400,000, 3,500 sqft place on a half-acre lot. I love the south. Oh, yeah, 100k income in the south or mid-west is a very nice lifestyle with a very nice house, and plenty of goo...
by HomerJ
Thu Nov 20, 2014 10:57 am
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 10071

Re: Trapped deciding between 2 Jobs: Can I renege on my offe

The bottomline is that although I love Company A, there are 2 problems. (1) It's a startup and I am unsure if they will be around for the long term. (2) They don't seem to invest much in the professional development of their hires. IF, and I stress if, I get promoted to a full-time hire and the sta...
by HomerJ
Thu Nov 20, 2014 1:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Trapped deciding between 2 Jobs: Can I renege on my offer?
Replies: 36
Views: 2926

Re: how to make money like a billionaire

Arthur, there is a lot of area between 100% stocks, and 100% CDs... Very few of us here espouse 100% stocks when one has a million dollars and you are less than 20 years from retirement. Most of us DO plan for a 50% market drop or even a 90% market drop by having a solid percentage of money in bonds...
by HomerJ
Wed Nov 19, 2014 10:38 pm
 
Forum: Investing - Theory, News & General
Topic: how to make money like a billionaire
Replies: 116
Views: 9573

Re: Extreme Generosity / Limiting Net Worth

^ I agree. My DW and I live on a good bit less than than the median family income and our life is IMO full of absurd luxuries. I picked the 1x median income as a concession to the OP. I figured that asking someone to drop their spending by half was already asking a lot. :) Fair point. As I mentione...
by HomerJ
Wed Nov 19, 2014 9:28 pm
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 10071

Re: Retired Bogleheads want to relocate to California

We are retired and are fortunate enough to be able to rent a condo (1200 sq. ft., 2 bedroom, walk to beach in 10minutes) in San Clemente. Has that small town feel, great beach, fishing from the pier (no license required even if out-of-state). We do this about 4-5month/year during the winter and get...
by HomerJ
Wed Nov 19, 2014 4:56 pm
 
Forum: Personal Consumer Issues
Topic: Retired Bogleheads want to relocate to California
Replies: 114
Views: 8362

Re: how to make money like a billionaire

therefore taking this thinking one step further, once you won the game you can afford to take more risks because having a lot and losing 50% from a lot is still a lot.... The point is, they've won the game... They can decide not to risk much anymore because they've already won, or they could even r...
by HomerJ
Wed Nov 19, 2014 4:12 pm
 
Forum: Investing - Theory, News & General
Topic: how to make money like a billionaire
Replies: 116
Views: 9573

Re: how to make money like a billionaire

therefore taking this thinking one step further, once you won the game you can afford to take more risks because having a lot and losing 50% from a lot is still a lot.... The point is, they've won the game... They can decide not to risk much anymore because they've already won, or they could even r...
by HomerJ
Wed Nov 19, 2014 2:41 pm
 
Forum: Investing - Theory, News & General
Topic: how to make money like a billionaire
Replies: 116
Views: 9573

Re: I may not make my retirement goals! What to do?

we all know that valuations are critical when looking at long term performance. What shall I do? It makes a difference, but I wouldn't say it's critical. Investing at all the peaks of the last century (and only the peaks) still made you some decent money. Anyone who invested 100% in stocks in 2000 ...
by HomerJ
Wed Nov 19, 2014 2:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: I may not make my retirement goals! What to do?
Replies: 49
Views: 3387

Re: getting paid for Excel work

Make sure you get that spreadsheet back to him early so he can retype it... :) Biff Tannen: And where's my reports? George McFly: Well, I haven't finished those up yet, but you know, I... I figured since they weren't due till... Biff Tannen: Hello? Hello? Anybody home? Huh? Think, McFly. Think! I go...
by HomerJ
Wed Nov 19, 2014 11:49 am
 
Forum: Personal Consumer Issues
Topic: getting paid for Excel work
Replies: 9
Views: 2061

Re: how to make money like a billionaire

1. Don’t lose. Every single one of these masters, while driven to deliver extraordinary returns, is more obsessed with not losing money. Even the world’s greatest hedge fund managers, who you’d think would be comfortable taking huge risks, are actually laser-focused on protecting their downside. Fr...
by HomerJ
Wed Nov 19, 2014 11:43 am
 
Forum: Investing - Theory, News & General
Topic: how to make money like a billionaire
Replies: 116
Views: 9573

Re: how to make money like a billionaire

new businesses are very risky but potential for reward is huge, not that I have any experience as I have never owned a business so far, but I am yet to meet a person with net worth of 10M or more who didn't do it through entrepreneurial skills of some sort... How is this relevant to you? Do you nee...
by HomerJ
Wed Nov 19, 2014 11:14 am
 
Forum: Investing - Theory, News & General
Topic: how to make money like a billionaire
Replies: 116
Views: 9573

Re: how to make money like a billionaire

The OP Seems to live in an area that might smell like the area under a bridge....just saying.... Each to his own. I will take my 16% ROI over the last 10 yrs or so vs CD rates. My gripe today, 40 2026 5.25% year tax free muni bonds were called as of Dec 6. :oops: yes each to his own, for your sake ...
by HomerJ
Tue Nov 18, 2014 10:52 pm
 
Forum: Investing - Theory, News & General
Topic: how to make money like a billionaire
Replies: 116
Views: 9573

Re: how to make money like a billionaire

Billionaires didn't become that way via CDs.

AFTER they've made their money, they are now focused on keeping it.

You're still in the accumulating phase, so any lessons you get from billionaires may not apply to you.
by HomerJ
Tue Nov 18, 2014 5:59 pm
 
Forum: Investing - Theory, News & General
Topic: how to make money like a billionaire
Replies: 116
Views: 9573

Re: Is buying organic worth it financially in the long term?

Alright, Ged, I'm still sporting a black eye from the first round of Paper Chase (damn you Huffington Post), but we didn't give up when the Germans bombed Pearl Harbor…. A joke, or another call for a black eye? Victoria The movie Animal House :) Bluto: What? Over? Did you say "over"? Noth...
by HomerJ
Tue Nov 18, 2014 3:44 pm
 
Forum: Personal Consumer Issues
Topic: Is buying organic worth it financially in the long term?
Replies: 124
Views: 6034

Re: Extreme Generosity / Limiting Net Worth

The CEO of a company I worked for years ago lived a middle class lifestyle, took good care of his family, and gave bundles of money away, mostly to his church. He was also a very decent person. I think these things are not unrelated. Diogenes could not find a CEO like that now, I think. That descri...
by HomerJ
Tue Nov 18, 2014 11:46 am
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 10071

Re: Cost to furnish a condo

livesoft wrote:In the style of Nouveau Grad Student, I think it would take less than $100.


Ah, milk crates... how I miss you...

Image
by HomerJ
Tue Nov 18, 2014 10:45 am
 
Forum: Personal Consumer Issues
Topic: Cost to furnish a condo
Replies: 29
Views: 2669

Re: Cost to furnish a condo

We are thinking about downsizing from a single family home, 3 bedrooms, 3 baths to a 2 bedroom condo. One thought is to take very little if any of the furniture with us. What do you think would be a rough cost of furnishing a 2 bedroom, 2 bath, living room, dining room, kitchen with new stuff....wi...
by HomerJ
Tue Nov 18, 2014 10:42 am
 
Forum: Personal Consumer Issues
Topic: Cost to furnish a condo
Replies: 29
Views: 2669

Re: Whole Life Insurance vs. 401k Contributions

Deepsea wrote:My kids will inherit more because I will have insurance Inforce until I die.


Nope, because my pile of money will grow larger than even the death benefit of your whole life, because I won't be giving 2%-3% to the insurance company every year.

But let's agree to disagree.
by HomerJ
Mon Nov 17, 2014 5:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Whole Life Insurance vs. 401k Contributions
Replies: 59
Views: 3761

Re: Whole Life Insurance vs. 401k Contributions

Deepsea wrote:Ps if you can tell me where I can get a SAFE compounded----and TAX FREE

7% rate of return.....I am all ears.....

I haven't seen it yet.


Whole life returned 6%-7% in the past... during the time that bonds returned 9%

There is no whole life product today that is returning a guaranteed 7%.
by HomerJ
Mon Nov 17, 2014 5:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: Whole Life Insurance vs. 401k Contributions
Replies: 59
Views: 3761

Re: Extreme Generosity / Limiting Net Worth

I followed up on the Notre Dame link from earlier in the survey and they have some fascinating stats. Giving 10% of income (they didn't define gross or net) puts you in the top 3% of givers nationally. 85% of Americans give less than 2%. Shocking! Don't be too impressed with yourself. You have good...
by HomerJ
Mon Nov 17, 2014 4:26 pm
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 10071

Re: How Not to Retire

a plan C of moving to a small apartment, selling the car, making it on social security alone and enjoying life as much as our health lets us, even if that means no entertainment other than library books and sitting in the park on sunny days. It's still a way nicer life than much of the third world....
by HomerJ
Mon Nov 17, 2014 4:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: How Not to Retire
Replies: 67
Views: 6951

Re: Whole Life Insurance vs. 401k Contributions

Deepsea wrote:If you want a death benefit to go to your loved ones if you live to old age-----then term insurance solely is not the answer.


My kids will inherit MORE money when I die because I didn't buy whole life insurance.
by HomerJ
Mon Nov 17, 2014 1:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Whole Life Insurance vs. 401k Contributions
Replies: 59
Views: 3761

Re: Whole Life Insurance vs. 401k Contributions

However the key to buying life insurance is realizing that the deal gets better the longer you keep it, and if it's a good policy, written by a good company then it generally makes sense to keep it if you have had it for say 15 to 20 years. But it NEVER gets good enough to beat just buying term lif...
by HomerJ
Mon Nov 17, 2014 12:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Whole Life Insurance vs. 401k Contributions
Replies: 59
Views: 3761
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