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Re: How to become a millionaire retiree -- then and now

Fresh out of college engineers in 1978 - 1979 made about $30,000 a year with ChemE even higher. Nope. Nope. Nope. Not even close. $30,000 in 1978 is the equivalent of $110,000 today. Fresh out of college engineers are not making $110,000 today and they weren't making the equivalent in 1978. That $3...
by Jack
Sun Aug 31, 2014 10:32 pm
 
Forum: Investing - Theory, News & General
Topic: How to become a millionaire retiree -- then and now
Replies: 67
Views: 10129

Re: The Power of Zero: Controversial New Book About Taxes

joer1212 wrote:He backs his claims with statistics, graphs, and statements by the former Comptroller General of the United States, David M. Walker, among others.

[OT comments removed by admin LadyGeek]
by Jack
Sat Aug 30, 2014 5:00 pm
 
Forum: Investing - Theory, News & General
Topic: The Power of Zero: [Book and tax planning for retirement]
Replies: 52
Views: 5489

Re: How low can Vanguard Fees Go?

You can compare Vanguard to the US Thrift Savings Plan. "In 2012, the TSP expenses charged to participants were $0.27 per $1,000 invested. The industry average was $8.30 per $1,000. A few differences that make a difference: 4.5 million participants. Three years to vest - leave before then and ...
by Jack
Sat Aug 30, 2014 12:53 am
 
Forum: Investing - Theory, News & General
Topic: How low can Vanguard Fees Go?
Replies: 32
Views: 2282

Re: S&P500 over 2000

Doctor Shiller's predictions From CNBC dated 31 December 2010 - Using long term analysis, Professor Robert Shiller, macromarkets chief economist at Yale University and the co-creator of the S&P/Case-Shiller Home Price Index, told CNBC on Friday that the S&P 500 may reach 1430 by the year 20...
by Jack
Mon Aug 25, 2014 8:04 pm
 
Forum: Investing - Theory, News & General
Topic: S&P500 over 2000
Replies: 68
Views: 5521

Re: S&P500 over 2000

Doctor Shiller's predictions From CNBC dated 31 December 2010 - Using long term analysis, Professor Robert Shiller, macromarkets chief economist at Yale University and the co-creator of the S&P/Case-Shiller Home Price Index, told CNBC on Friday that the S&P 500 may reach 1430 by the year 20...
by Jack
Mon Aug 25, 2014 5:32 pm
 
Forum: Investing - Theory, News & General
Topic: S&P500 over 2000
Replies: 68
Views: 5521

Re: No room on your Windows hard drive? Cleanup Update files

WOW got rid of almost 7G of junk. How often should a person do this? At a nickel a GB, you recovered 35 cents worth of disk space. How often do you think you should do that? Disk space is so cheap that there is an argument to be made to never delete anything ever. Have you ever deleted something pe...
by Jack
Sun Aug 24, 2014 10:37 pm
 
Forum: Personal Consumer Issues
Topic: No room on your Windows hard drive? Cleanup Update files
Replies: 60
Views: 4834

Re: I need "Ultra High Net Worth" investing advice please

We're located in an income tax state, our kids are extremely young. If we plan to live off this wealth and make it last for generations, does it make sense to move to a No Income Tax state? You've got $50 million which gives you the freedom to do anything and live anywhere you want. Why would you l...
by Jack
Sun Aug 24, 2014 2:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 225
Views: 19393

Re: Signing up for medicare Oct 1

If you get a drug plan, there is also no longer a doughnut hole. It was eliminated with the Affordable Care Act. Not until 2020, per http://www.medicare.gov/pubs/pdf/11493.pdf The doughnut hole is the coverage gap when your annual drug costs are between $2850 and $4550. Previously you got no covera...
by Jack
Sat Aug 23, 2014 6:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Signing up for medicare Oct 1
Replies: 34
Views: 2913

Re: Signing up for medicare Oct 1

If you don't get a drug plan, I know there is something called the doughnut hole. What is the maximum out of pocket you could possibly pay if you don't get a drug plan? If you don't get a drug plan, you pay everything for drugs out of pocket. There was never a doughnut hole. It's all hole. If you g...
by Jack
Sat Aug 23, 2014 1:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Signing up for medicare Oct 1
Replies: 34
Views: 2913

Re: Enough retirement income to avoid Medicaid

According to this report by the Kaiser Family Foundation (pdf) , the annual cost to the Treasury for the tax subsidy on employer provided insurance is $200 billion. Some quick googling shows that the total cost of Obamacare subsidies is about $11 billion a year. It is worth noting that while Obamac...
by Jack
Sat Aug 23, 2014 1:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Enough retirement income to avoid Medicaid
Replies: 30
Views: 3128

Re: Do you take all of your allowed paid vacation time?

One thing to keep in mind is that there is no federal law requiring your employer to pay you for accrued vacation or sick time if you leave your job or are laid off. Only half of states have laws requiring payment for unused vacation. You could risk giving up thousands of dollars of earned compensat...
by Jack
Fri Aug 22, 2014 9:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do you take all of your allowed paid vacation time?
Replies: 88
Views: 5949

Re: Enough retirement income to avoid Medicaid

I just feel like it's not right for us to be on Medicaid. I didn't realize I could do non-subsidized ACA. I'll also look into Roth conversions. We are a family of 4 so I think we need to be over something like $25k. Thanks all. If you don't want Medicaid and you don't want a subsidized ACA plan, th...
by Jack
Fri Aug 22, 2014 8:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Enough retirement income to avoid Medicaid
Replies: 30
Views: 3128

Re: Enough retirement income to avoid Medicaid

If you don't get it, you may have a tax penalty, but many people are exempt from it. The largest group that is exempt is those who don't have to file income taxes because they don't have enough income (which is something like 47% of the population). That is not correct. You are not exempt from the ...
by Jack
Fri Aug 22, 2014 8:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Enough retirement income to avoid Medicaid
Replies: 30
Views: 3128

Re: Buying a home with aluminum wiring?

I will repeat what I said before, finding every single connection point is an arduous task that I would not trust to be completed properly in a home which I do not own and can not control the work. I agree with that. I would recommend that the OP not have the seller perform this work. I would recom...
by Jack
Fri Aug 22, 2014 5:39 pm
 
Forum: Personal Consumer Issues
Topic: Buying a home with aluminum wiring?
Replies: 73
Views: 4964

Re: Tipping the virtual waiter/waitress?

saladdin wrote:Anyone who thinks servers living in places with a higher state mini wage don't still expect tips is not being honest.

You seem to be the only one thinking that. No one here has said that.
by Jack
Fri Aug 22, 2014 4:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tipping the virtual waiter/waitress?
Replies: 18
Views: 2072

Re: Buying a home with aluminum wiring?

The aluminum wiring itself is not the problem. It is the terminal connection of the wire to the outlet that is the problem. The wire itself it capable of carrying the full current capacity of the circuit, heater or no heater. You may not realize it but the service drop cable into your home is made ...
by Jack
Fri Aug 22, 2014 3:07 pm
 
Forum: Personal Consumer Issues
Topic: Buying a home with aluminum wiring?
Replies: 73
Views: 4964

Re: Buying a home with aluminum wiring?

Second, my relative who has been an electrician for over 25 years told me about an experience where he saw aluminum wiring glow red hot inside of an electrical box while the outlet had an electric heater plugged into it. Yes, that is a special concern with aluminum wiring. My parents have had a hou...
by Jack
Fri Aug 22, 2014 12:52 pm
 
Forum: Personal Consumer Issues
Topic: Buying a home with aluminum wiring?
Replies: 73
Views: 4964

Re: No room on your Windows hard drive? Cleanup Update files

I freed up 2.5 GB of room on my hard drive. Now that is the ultimate Boglehead. HDD storage costs about a nickel a GB these days so you saved about 12.5 cents. By the way, I still pick up pennies off the sidewalk out of habit -- and then at the first opportunity put them in the leave-a-penny-take-a...
by Jack
Thu Aug 21, 2014 10:37 pm
 
Forum: Personal Consumer Issues
Topic: No room on your Windows hard drive? Cleanup Update files
Replies: 60
Views: 4834

Re: Wash D.C. speed camera - how accurate?

It's pretty easy to avoid those tickets if you get a GPS that provides alerts when you exceed the speed limit. The GPS measures speed more accurately than your speedometer and their database of every speed limit on every section of road is generally accurate to within a few feet -- city, rural and h...
by Jack
Thu Aug 21, 2014 10:20 pm
 
Forum: Personal Consumer Issues
Topic: Wash D.C. speed camera - how accurate?
Replies: 40
Views: 2502

Re: Buying a home with aluminum wiring?

A certified installer should be able to give you a copy of the certification which you can present to your insurer, lender or any future buyer.
by Jack
Thu Aug 21, 2014 2:45 pm
 
Forum: Personal Consumer Issues
Topic: Buying a home with aluminum wiring?
Replies: 73
Views: 4964

Re: Buying a home with aluminum wiring?

Does anyone know the differences between Alumiconn and Copalum connectors? My inspector is recommending someone who does Alumiconn. Everything I've read says go with Copalum. You can see Alumiconn connectors for sale here on Amazon. http://www.amazon.com/s/ref=nb_sb_noss?url=search-alias%3Daps&...
by Jack
Thu Aug 21, 2014 1:47 pm
 
Forum: Personal Consumer Issues
Topic: Buying a home with aluminum wiring?
Replies: 73
Views: 4964

Re: Buying a home with aluminum wiring?

I would expect it's normal for people to worry about this kind of thing happening. Not to pick on you, but people worry about a lot of things they don't understand. This is how the conversation has gone so far: 1. "A quick google search shows that aluminum wiring is not covered by homeowners i...
by Jack
Thu Aug 21, 2014 12:42 pm
 
Forum: Personal Consumer Issues
Topic: Buying a home with aluminum wiring?
Replies: 73
Views: 4964

Re: Buying a home with aluminum wiring?

I did a brief search on the Copalum thing, saw an estimate for $50 per outlet. Tool is rented, unable to find somewhere to buy it. There is a $12-13 part that might be comparable, used to join/splice wires. It might work for this. AMP leases the Copalum crimping tools only to certified electricians...
by Jack
Thu Aug 21, 2014 10:38 am
 
Forum: Personal Consumer Issues
Topic: Buying a home with aluminum wiring?
Replies: 73
Views: 4964

Re: Buying a home with aluminum wiring?

willie838 wrote:there is no way the seller is going to foot the bill once they get the estimates. You're talking a decent 5 figure project. A full house gut and rewire?

Yet more ignorance. I Copalum rewire will cost a few thousand, not $10,000.

[OT comment removed by admin LadyGeek]
by Jack
Thu Aug 21, 2014 12:30 am
 
Forum: Personal Consumer Issues
Topic: Buying a home with aluminum wiring?
Replies: 73
Views: 4964

Re: Buying a home with aluminum wiring?

And God forbid, but what if there ever is a fire? Who knows where it might actually start, but it's easy to worry that some insurance adjuster might blame it on the wiring, and deny the claim. And how's a home owner going to fight that? Yet more ignorant fear mongering. No, an insurance company can...
by Jack
Thu Aug 21, 2014 12:12 am
 
Forum: Personal Consumer Issues
Topic: Buying a home with aluminum wiring?
Replies: 73
Views: 4964

Re: Buying a home with aluminum wiring?

I'm not sure if people around here are purchasing aluminum futures, but here are two facts of which I am certain. First, I have seen aluminum wiring mated to copper wiring fail and leave a molten mess inside an electrical box. That's scary. Second, my relative who has been an electrician for over 2...
by Jack
Wed Aug 20, 2014 11:15 pm
 
Forum: Personal Consumer Issues
Topic: Buying a home with aluminum wiring?
Replies: 73
Views: 4964

Re: Buying a home with aluminum wiring?

This could impact my ability to get a mortgage? Whoa... There are a lot of ignorant people here blowing smoke. FHA and VA accept aluminum wiring and I don't know of any other lenders that won't either. They may want to inspect the Copalum work to be sure it is done right, as to be expected. Make su...
by Jack
Wed Aug 20, 2014 10:21 pm
 
Forum: Personal Consumer Issues
Topic: Buying a home with aluminum wiring?
Replies: 73
Views: 4964

Re: Shiller on Lofty Market Elevations

To the extent that lower return is generally associated with lower risk that may not be true. This is especially true if one believes the higher valuation is going to be on going (ie not a belief that high valuations portent a crash). That of course is only one possible reading of the tea leaves, n...
by Jack
Wed Aug 20, 2014 1:11 pm
 
Forum: Investing - Theory, News & General
Topic: Shiller on Lofty Market Elevations
Replies: 55
Views: 5212

Re: Buying a home with aluminum wiring?

What is the issue with Copalum route? One issue is that occasionally you can have a switch or junction box that is crammed pretty tight with wires so that you need a larger box to accommodate the Copalum connectors. This means cutting out some drywall for a bigger box and maybe some drywall repair ...
by Jack
Wed Aug 20, 2014 1:02 am
 
Forum: Personal Consumer Issues
Topic: Buying a home with aluminum wiring?
Replies: 73
Views: 4964

Re: Buying a home with aluminum wiring?

Don't take my word for it. http://www.nytimes.com/2006/02/19/realestate/19home.html And if you take the word of your link, Copalum is a perfectly safe and cheaper alternative to rewiring the entire house. Check out the cost of a Copalum upgrade and check with your insurance company for acceptance. ...
by Jack
Wed Aug 20, 2014 12:17 am
 
Forum: Personal Consumer Issues
Topic: Buying a home with aluminum wiring?
Replies: 73
Views: 4964

Re: Buying a home with aluminum wiring?

I had this issue. Long story short there is no good way to mate copper and aluminum. They don't even make the best product anymore, the "copalum" product, due to liability concerns. Get a licensed electrician to come out and give ou an estimate on rewiring it all. If it's all in conduit t...
by Jack
Wed Aug 20, 2014 12:06 am
 
Forum: Personal Consumer Issues
Topic: Buying a home with aluminum wiring?
Replies: 73
Views: 4964

Re: Bad(?) advice given about Target Date Retirement funds

Here's a column I did for M* back in 2009 on this very topic called "Fixing Target Date Funds". http://news.morningstar.com/articlenet/article.aspx?postId=2686718 It comes down to the preferences of "lumpers" and "splitters." There is no one answer for which way is bes...
by Jack
Tue Aug 19, 2014 10:47 pm
 
Forum: Investing - Theory, News & General
Topic: Bad(?) advice given about Target Date Retirement funds
Replies: 103
Views: 6617

Re: Shiller on Lofty Market Elevations

A very good summary of issues surrounding high (compared to history) PE10 is at http://fatasmihov.blogspot.de/2014/08/irrational-exuberance-meets-secular.html From that summary, while people may disagree on whether a high PE is supported by current conditions, everyone seems to agree that the fact ...
by Jack
Tue Aug 19, 2014 6:32 pm
 
Forum: Investing - Theory, News & General
Topic: Shiller on Lofty Market Elevations
Replies: 55
Views: 5212

Re: Is a big war coming ???

Betteridge's Law of Headlines: Any headline which ends in a question mark can be answered by the word no. As Betteridge explains "The reason why journalists use that style of headline is that they know the story is probably b*****t, and don’t actually have the sources and facts to back it up, b...
by Jack
Tue Aug 19, 2014 3:47 pm
 
Forum: Investing - Theory, News & General
Topic: Is a big war coming ???
Replies: 37
Views: 3990

Re: Shiller on Lofty Market Elevations

One scenario is that stocks won't crash, but rather will plod along as inflation heats up at some point in the future. You have to ask, where is that inflation going to come from? Worker wages have been flat or slightly declining for 30 years. The average household savings rate, which was up to 8% ...
by Jack
Tue Aug 19, 2014 11:44 am
 
Forum: Investing - Theory, News & General
Topic: Shiller on Lofty Market Elevations
Replies: 55
Views: 5212

Re: Shiller on Lofty Market Elevations

Maybe I split the difference and go 50/50. That sounds like a good wishy-washy solution. Here is what Shiller said in 2008, the last time PE10 got this high: So I think the bottom line that we we're giving – and maybe we didn’t stress or emphasize it enough – was that it’s continual. It’s not a tim...
by Jack
Tue Aug 19, 2014 11:10 am
 
Forum: Investing - Theory, News & General
Topic: Shiller on Lofty Market Elevations
Replies: 55
Views: 5212

Re: Bad(?) advice given about Target Date Retirement funds

What, you don't look at your portfolio allocation for 13 years? If you simply checked once every 5 years you would be fine. A few minutes every 5 years is pretty simple investing. I think the point is that if you need to manually steer your glide path the target date funds are doing nothing for you...
by Jack
Tue Aug 19, 2014 12:18 am
 
Forum: Investing - Theory, News & General
Topic: Bad(?) advice given about Target Date Retirement funds
Replies: 103
Views: 6617

Re: Bad(?) advice given about Target Date Retirement funds

... That said, TR 2035 will "glide" 7-8 points over 5 year periods. 1. So what?... 2. Unless, that is, you are attempting to dance on the head of a pin -- a.k.a. "carefully selected AA." The issue is with the oft-repeated advice to ignore the calendar year in the name of fund, a...
by Jack
Mon Aug 18, 2014 11:26 pm
 
Forum: Investing - Theory, News & General
Topic: Bad(?) advice given about Target Date Retirement funds
Replies: 103
Views: 6617

Re: Becoming full time student from employment and ACA

You can read the Dept. of Labor's Model COBRA Continuation Coverage Election Notice here (Microsoft Word file): http://www.dol.gov/ebsa/modelelectionnotice.doc. The model provides an example for employer's of a compliant COBRA notification form. A person leaving a job should receive a similar form f...
by Jack
Mon Aug 18, 2014 11:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Becoming full time student from employment and ACA
Replies: 10
Views: 812

Re: Becoming full time student from employment and ACA

I looked some more at healthcare.gov -- and, the way I interpret it, COBRA may be an issue. If you enroll on an exchange (healthcare.gov) and your COBRA is expiring (or has expired), you can sign up any time of the year (do not need to wait for open enrollment). However, if you have COBRA eligibili...
by Jack
Sun Aug 17, 2014 4:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Becoming full time student from employment and ACA
Replies: 10
Views: 812

Re: Vanguard Bond funds Style change

And annoyingly, it has crossed over Morningstar's style box boundaries. Well, they have to draw the lines somewhere . So the question is, is the change in category because Total Bond increased its duration or has Morningstar moved the lines. From Morningstar: To be placed in the extensive section o...
by Jack
Sun Aug 17, 2014 12:18 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard Bond funds Style change
Replies: 19
Views: 1922

Re: LifeStrategy description goof in "Get a Recommendation"

Well, technically, the description is correct -- but incomplete. It does provide access to the three described funds.

As in the late-night ginga knife ads -- but wait, there's more. You also get international bonds if you order now.
by Jack
Sat Aug 16, 2014 1:55 pm
 
Forum: Investing - Theory, News & General
Topic: LifeStrategy description goof in "Get a Recommendation"
Replies: 5
Views: 649

Re: Reminder: Check your 401K contribution rates

Employer contributions are always deferred as they take a deduction for it so really they pass the tax burden onto the recipient (fair enough for free money). The same is true of your salary. The employer takes a tax deduction and you pay the tax. The tax effect would be exactly the same if, instea...
by Jack
Sat Aug 16, 2014 1:28 pm
 
Forum: Investing - Theory, News & General
Topic: Reminder: Check your 401K contribution rates
Replies: 27
Views: 3770

Re: How to ensure military members don't get ripped off

As to expenses, you can see for yourself here that Blackrock manages the C, F, and I funds with assets of $179 billion for total fees of about $6 million a year. This works out to about 0.3 basis points. http://www.frtib.gov/pdf/reports/FinStmts/TSP-FS-Dec2013.pdf Administrative expenses are $161 mi...
by Jack
Fri Aug 15, 2014 12:53 am
 
Forum: Investing - Theory, News & General
Topic: How to ensure military members don't get ripped off
Replies: 71
Views: 4629

Re: How to ensure military members don't get ripped off

The subsidy used to reduce the TSP's expenses is not from taxpayers generally. Rather, it's derived "from the forfeitures of Agency Automatic (1%) Contributions of certain Federal employees who leave Federal service before they are vested, other forfeitures, loan fees, and — because those forf...
by Jack
Thu Aug 14, 2014 11:16 pm
 
Forum: Investing - Theory, News & General
Topic: How to ensure military members don't get ripped off
Replies: 71
Views: 4629

Re: Strategic Default

State law will determine if this is a recourse or non-recourse loan. If it is non-recourse, then there is no tax for debt forgiveness because there is no debt to forgive. If non-recourse, the bank's only option is to foreclose on the property. There is no forgiveness of debt. The bank writes it off ...
by Jack
Thu Aug 14, 2014 8:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Strategic Default [on a property]
Replies: 42
Views: 3284

Re: Job Change for Someone Using an ACA Subsidy

Looking back, I see I made an error when I assumed that the new job paid $30,000, not $39,000. That changes things. In that case the affordability calculation should be $3600/$39,000 = 9.2% which would be considered affordable, and therefore eliminate subsidy eligibility. However, it is more complic...
by Jack
Thu Aug 14, 2014 11:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Job Change for Someone Using an ACA Subsidy
Replies: 3
Views: 466

Re: Job Change for Someone Using an ACA Subsidy

You can find more about her options here: https://www.healthcare.gov/what-if-i-have-job-based-health-insurance/ She can always opt to keep the ACA exchange plan, but she may or may not be eligible for subsidy if her employer offers a plan. The question is whether her employer plan is deemed: 1. Affo...
by Jack
Wed Aug 13, 2014 8:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Job Change for Someone Using an ACA Subsidy
Replies: 3
Views: 466

Re: How to ensure military members don't get ripped off

2. Invest in more suitable options such as a balanced fund, REIT, muni bond fund or dividend fund, consolidate assets. the interest rates on the G fund which is a blended rate will be barely above the rate of inflation which is about 1.7%. And income tax will reduce the return. You seem to be havin...
by Jack
Wed Aug 13, 2014 1:59 pm
 
Forum: Investing - Theory, News & General
Topic: How to ensure military members don't get ripped off
Replies: 71
Views: 4629

Re: Vanguard sued for charging too little

If I'm understanding correctly, the only issue that might arise is if the "reserve" which is an expense charge to investors (if I understand correctly) doesn't bear some rough relationship to anticipated capital needs to run the company. Presumably the normal management fees in the aggreg...
by Jack
Mon Aug 11, 2014 1:55 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard sued for charging too little
Replies: 187
Views: 22122
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