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Re: Where to retire in New England?

Cambridge, MA within walking distance to MIT, Harvard and a T stop would be nice. I visited it a couple times last year and liked it a lot. That was in spring and summer. And then there was a winter... Victoria Typing this from Cambridge, MA: It is nice - I never get tired of the view across the Ch...
by Wolkenspiel
Thu Mar 12, 2015 12:46 pm
 
Forum: Personal Consumer Issues
Topic: Where to retire in New England?
Replies: 101
Views: 7523

Re: Where to retire in New England?

So you want to retire in New England? Let me ask you one question. Do you like cold, snowy winters? If the answer is no then I wouldn't even consider moving here. Winter in New England is no joke. Up until two months ago, I though I didn't mind "cold, snowy winters". I may have changed my...
by Wolkenspiel
Thu Mar 12, 2015 11:54 am
 
Forum: Personal Consumer Issues
Topic: Where to retire in New England?
Replies: 101
Views: 7523

Re: How much did you have saved up for retirement at age 30?

By 30, a couple of years after getting my PhD, I had zero retirement savings and a net worth oscillating around zero. It took another five years to start any systematic saving, retirement or otherwise. I focussed on developing an exciting career - it never occurred to strive for early retirement. If...
by Wolkenspiel
Fri Feb 27, 2015 11:46 am
 
Forum: Personal Finance (Not Investing)
Topic: How much did you have saved up for retirement at age 30?
Replies: 173
Views: 13171

Re: Is your hedge fund run by a werewolf?

So you've invested six figures in this fund, you decide you want to pull your money out. You request it and you get this reply: ""Mr. Malik has been passed away with the heart attack after accident. We will dissolve the fund shortly" How are you feeling after reading that? :shock: Si...
by Wolkenspiel
Sat Feb 14, 2015 2:33 pm
 
Forum: Investing - Theory, News & General
Topic: Is your hedge fund run by a werewolf?
Replies: 10
Views: 980

Re: US citizen vs green card

Doesn't the same "expatriation tax" apply to (long term) green card holders as for citizens? With significant US assets (401k's, IRAs) one can't just hand in the green card and wire the money to wherever. LOL, and exactly what stops that? Presumably whatever would stop a dual citizen from...
by Wolkenspiel
Wed Jan 28, 2015 10:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: US citizen vs green card
Replies: 37
Views: 3648

Re: US citizen vs green card

Doesn't the same "expatriation tax" apply to (long term) green card holders as for citizens? With significant US assets (401k's, IRAs) one can't just hand in the green card and wire the money to wherever. LOL, and exactly what stops that? Presumably whatever would stop a dual citizen from...
by Wolkenspiel
Wed Jan 28, 2015 6:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: US citizen vs green card
Replies: 37
Views: 3648

Re: US citizen vs green card

2. Avoid filing US income tax return for life! Point 2 is a big one for many people. For example, let's say (I am not suggesting it will happen) you will get divorced, and she decides to return back home to Canada and spend the rest of her days there. She will still be obligated to file a US income...
by Wolkenspiel
Wed Jan 28, 2015 12:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: US citizen vs green card
Replies: 37
Views: 3648

Re: US citizen vs green card

Don't have to apply for a new GC every 10 years. Cost of citizenship ~= cost of GC. Con: Taxed on all income everywhere in the world. Leaving and never coming back = some fee to "rescind" citizenship otherwise the tax-man cometh. CC holders are also taxed on world-wide income, and it is u...
by Wolkenspiel
Wed Jan 28, 2015 11:47 am
 
Forum: Personal Finance (Not Investing)
Topic: US citizen vs green card
Replies: 37
Views: 3648

Re: Changes (mostly bad ones) to my 401k. Who benefits?

I would be very surprised if those new, complicated, higher-cost funds were added because the employees were clamoring for them. Somebody must have made a sales pitch and bamboozled the company into accepting the new fund choices because "more choices" and "potential for market-beati...
by Wolkenspiel
Fri Jan 09, 2015 7:46 am
 
Forum: Personal Finance (Not Investing)
Topic: Changes (mostly bad ones) to my 401k. Who benefits?
Replies: 34
Views: 2719

Re: Thinking about retirement - it's depressing

Personally, I love being pampered in hotels, dressing in nice clothes, going to Broadway, trying new wine and 10 course menu restaurants, traveling in luxury cars, flying around the world, or sitting at home playing video games. I thought your living expense level for the family was "$60k net ...
by Wolkenspiel
Fri Jan 09, 2015 7:29 am
 
Forum: Personal Consumer Issues
Topic: Thinking about retirement - it's depressing
Replies: 80
Views: 8671

Re: What price are you planning to pay for your next car?

Another year or so, and mid-80's should get a nice '13 CPO 911 C4S. We'll see how the car fund does until then.
by Wolkenspiel
Sat Dec 27, 2014 9:07 am
 
Forum: Personal Finance (Not Investing)
Topic: What price are you planning to pay for your next car?
Replies: 91
Views: 7169

Re: I think I just got a $5,000 watch for Christmas

Petrocelli wrote:It is absolutely gorgeous.


Congratulations! And :sharebeer for posting here (to a predictably mixed reception).
by Wolkenspiel
Sat Dec 27, 2014 8:56 am
 
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 935
Views: 185944

Re: How do you define "being rich"?

Obviously, compared to a large part of the world, anyone who is not worried about getting his next meal, having shelter from the wet and cold, getting medical care when needed, etc. is rich, but I don't think that's the context in which OP asked the question. My personal taxonomy: Wealthy have at l...
by Wolkenspiel
Sun Dec 21, 2014 8:54 pm
 
Forum: Personal Consumer Issues
Topic: How do you define "being rich"?
Replies: 127
Views: 9630

Re: Giving money to your alma mater: Have to vent

Before giving a donation....I would consider this: http://en.wikipedia.org/wiki/List_of_colleges_and_universities_in_the_United_States_by_endowment My concern is colleges and universities building up huge endowments that would more than cover any financial aid and other needs, yet they still ask fo...
by Wolkenspiel
Thu Dec 04, 2014 12:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Giving money to your alma mater: Have to vent
Replies: 166
Views: 16745

Re: Giving money to your alma mater: Have to vent

You know this isn't true, I'm sure. Your tuition only pays a fraction of the cost of an education. If others hadn't given before you, your tuition would have been far greater. Gill I'm quite certain the profits from the football program at my alma mater alone covered a majority of the university's ...
by Wolkenspiel
Wed Dec 03, 2014 3:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Giving money to your alma mater: Have to vent
Replies: 166
Views: 16745

Re: Trading in a car - worth it to fix cosmetic issues?

if you were selling privately then cosmetic issue would matter, but to a dealer, they don't really care. I once traded in a car that had a slightly scratched/deformed rear lower bumper from a light rear impact. The dealer didn't say a word about it and the trade-in value was more or less in line wi...
by Wolkenspiel
Mon Nov 24, 2014 7:00 pm
 
Forum: Personal Consumer Issues
Topic: Trading in a car - worth it to fix cosmetic issues?
Replies: 8
Views: 1083

Re: Making money/career in Trading

Johno wrote:But bottom line, by far the easiest way to make money trading is to get a job doing it with OPM.


Using other people's money also means your "edge" can be in PR/salesmanship/obfuscation, rather than in actual trading. Much easier.
by Wolkenspiel
Mon Nov 24, 2014 6:53 pm
 
Forum: Investing - Theory, News & General
Topic: Making money/career in Trading
Replies: 25
Views: 2724

Re: How to Plan for an Unknown Future

What do you do? Just assume status quo (same tax rates, soc sec exists,...)? Assume worst case? Model 2,3, or 4 different scenarios? I don't think it makes much sense to plan for doomsday "worst case" scenarios (for every scenario your plan survives there will be N equally likely/unlikely...
by Wolkenspiel
Mon Nov 24, 2014 6:46 pm
 
Forum: Investing - Theory, News & General
Topic: How to Plan for an Unknown Future
Replies: 23
Views: 2077

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

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. Without a clearer picture of the OPs finances and motivation, I don't see how one could give meaningful advice. Although I personally ...
by Wolkenspiel
Mon Nov 24, 2014 5:00 pm
 
Forum: Personal Consumer Issues
Topic: 23 year old... Can I afford a Rolex?
Replies: 167
Views: 17274

Re: Poll: Net cost of your checking account annually?

Fidelty's fine print reads as follows: Please note, there is a foreign transaction fee of one percent that is not waived, which will be included in the amount charged to your account. Fidelity's fine print does not match reality, based on my experience looking at exchange rates for the days I made ...
by Wolkenspiel
Wed Nov 19, 2014 8:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: Net cost of your checking account annually?
Replies: 44
Views: 3943

Re: how to make money like a billionaire

Real Estate is special because property values although can drop a lot will never go down to zero. land and buildings have inherent value in them. In the last three years I've travelled to downtown Detroit for some meeting each summer. Every year, some more blocks of apartment buildings have disapp...
by Wolkenspiel
Wed Nov 19, 2014 6:35 pm
 
Forum: Investing - Theory, News & General
Topic: how to make money like a billionaire
Replies: 116
Views: 16323

Re: Merc or BMW?

jsl11 wrote:
randomguy wrote: If quality is a major concern, it is pretty much Lexus and then everyone else.

This.
In addition, repairs and even routine maintenance for Merc and BMW can be very expensive.


Neglecting of course that maintenance if free on BMWs for the first four years.
by Wolkenspiel
Sat Nov 08, 2014 9:23 pm
 
Forum: Personal Consumer Issues
Topic: Merc or BMW?
Replies: 60
Views: 7426

Re: Merc or BMW?

Louis Winthorpe III wrote:I thought I heard that Mercedes finished dead last among all brands in the most recent Consumer Reports quality ranking, but I'm not sure.


Well, you heard or thought wrong. Don't let that keep you from contributing further...
by Wolkenspiel
Sat Nov 08, 2014 9:22 pm
 
Forum: Personal Consumer Issues
Topic: Merc or BMW?
Replies: 60
Views: 7426

Re: How often do you change your car's oil?

I'm shocked that in a crowd that fights for the last fraction of a per mille on their investment expenses so many decide to waste money and time, unnecessarily consume resources and pollute the environment for evidently zero benefit. In Europe, where very few people lease their cars and hence have g...
by Wolkenspiel
Sun Oct 26, 2014 1:27 pm
 
Forum: Personal Consumer Issues
Topic: How often do you change your car's oil?
Replies: 168
Views: 13454

Re: What funds are negatively correlated with stocks?

ProShares Short S&P500 (SH) or if you want stronger negative correlation: ProShares UltraPro Short Dow30 (SDOW) I believe parsi1 is telling a joke with a straight face. That joke went over my head. OP wants a hedge. These are hedges. Trivially anti-correlated, yes, but not a good hedge if the e...
by Wolkenspiel
Sun Oct 26, 2014 12:23 pm
 
Forum: Investing - Theory, News & General
Topic: What funds are negatively correlated with stocks?
Replies: 24
Views: 3457

Re: Should I use 50k Delta miles for a $600 flight?

I usually use my AA miles on flights to east asia, particularly including a JAL direct Boston-Tokyo flight. Economy tickets for that flight cost about $2k roundtrip or 70k miles, so close to 3cent per mile. I think 50k miles for a $600 ticket is not a good deal. Of course nominally you'll get the be...
by Wolkenspiel
Sun Oct 26, 2014 7:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I use 50k Delta miles for a $600 flight?
Replies: 73
Views: 5092

Re: Gross Yearly Income needed in Retirement (Speculation)

How are people coming up with these numbers? 90K? 120k? Even $180k??? What kinds of savings rate does one need to take $100k/year in retirement? It seems unattainable without a two income high earning (physician level +) people. $100k/year retirement household income doesn't seem that far-fetched. ...
by Wolkenspiel
Thu Oct 23, 2014 6:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Gross Yearly Income needed in Retirement (Speculation)
Replies: 159
Views: 14010

Re: Anyone cancelling travel plans?

I'm going to be on four international flights in the next 7 days. I'm mostly worry about some fat guy sitting next to me and spilling over in my seat.
by Wolkenspiel
Sun Oct 19, 2014 6:38 pm
 
Forum: Personal Consumer Issues
Topic: Anyone cancelling travel plans?
Replies: 117
Views: 6618

Re: Tell me about Berlin :-)

Things I liked about Berlin: - Hotels are pretty cheap compared to other major cities - Easy to get around by public transport - The "Museum island" is one of the great set of exhibitions in the world. There are cheap museum passes that allow one to visit these and a bunch of other museum....
by Wolkenspiel
Mon Oct 06, 2014 10:41 am
 
Forum: Personal Consumer Issues
Topic: Tell me about Berlin :-)
Replies: 40
Views: 3654

Re: Tell me about Paris

This summer we staid in an apartment (through AirBnB) for the first time, with a family of 4. The apartment was right in the heart of St. Germain de Pres, for the same price as the cheapest budget hotels (far away from the center). If you're just going for "a couple of days", I wouldn't wa...
by Wolkenspiel
Wed Oct 01, 2014 12:25 pm
 
Forum: Personal Consumer Issues
Topic: Tell me about Paris
Replies: 65
Views: 4186

Re: Obese airline passenger

I was young and dumb at the time, would not happen to me again. What would you do differently today? First, the armrest stays down. Second, talk to a flight attendant about a different/better seat. Third, not fly economy or if it cant be avoided, a't least sit in an exit row seat (fixed, high armre...
by Wolkenspiel
Sun Sep 28, 2014 9:12 pm
 
Forum: Personal Consumer Issues
Topic: Obese airline passenger
Replies: 62
Views: 5257

Re: Obese airline passenger

So when lunch comes and I am really hungry because I didn't eat breakfast, I can reach over and eat yours!!! Nice. I want you on the plane next to me! No complaints ... you got from A to B! Well, I once sat next to a guy about twice my size on a transatlantic flight. First thing he did after sittin...
by Wolkenspiel
Sun Sep 28, 2014 8:16 pm
 
Forum: Personal Consumer Issues
Topic: Obese airline passenger
Replies: 62
Views: 5257

Re: Why I sold my gold, and would sell commodities too

"When the facts change, I change my mind. What do you do, sir?" John Maynard Keynes . That's a nice quote, but I don't see which facts have changed in the last few years? Stocks have "zigged" (up), gold zagged, just as you wanted. That one can in hindsight find a portfolio that ...
by Wolkenspiel
Mon Sep 22, 2014 6:21 pm
 
Forum: Investing - Theory, News & General
Topic: Why I sold my gold, and would sell commodities too
Replies: 71
Views: 6500

Re: When to invest in China?

nedsaid wrote:Another great point. If wealthy people are emigrating from China and taking their money with them, a very simple question comes up. Do these wealthy Chinese know something that we don't? Thanks 111.

They know how they made their money.
by Wolkenspiel
Sun Aug 31, 2014 9:42 am
 
Forum: Investing - Theory, News & General
Topic: When to invest in China?
Replies: 51
Views: 3654

Re: When to invest in China?

Dutch wrote:Why China?

If I was interested in individual countries (which I'm not), then something like Russia would appeal to me much more right now.

RUSL http://etfs.morningstar.com/quote?t=rusl for the win. 3x leveraged Russia ETF. Lot's of upside potential :twisted:
by Wolkenspiel
Sun Aug 31, 2014 9:39 am
 
Forum: Investing - Theory, News & General
Topic: When to invest in China?
Replies: 51
Views: 3654

Re: How to safely sell a big ticket item online

I really have no idea how to make this transaction safely. Guess I should have thought of that before. :oops: We just sold our car ourselves. We went to our bank with the buyer, where he called "his guy" at his bank to wire the money to our account. The money arrived within a few minutes ...
by Wolkenspiel
Wed Aug 27, 2014 2:13 pm
 
Forum: Personal Consumer Issues
Topic: How to safely sell a big ticket item online
Replies: 42
Views: 3019

Re: Why do we tip restaurant servers?

If the server enhances my experience than I show my appreciation through a tip. Next I love that the employee actually 'works" for their tip. there is a direct correlation between how they do their job and the tip they get. What happens when the server doesn't enhance your experience? No tip? ...
by Wolkenspiel
Fri Aug 22, 2014 4:49 pm
 
Forum: Personal Consumer Issues
Topic: Why do we tip restaurant servers?
Replies: 44
Views: 2513

Re: Why do we tip restaurant servers?

Abe wrote:
Having said all this, I am aware that I probably will never see this in my life time.


Well, you could see it in most parts of the world. I much prefer that way to the US tipping culture.
by Wolkenspiel
Fri Aug 22, 2014 4:40 pm
 
Forum: Personal Consumer Issues
Topic: Why do we tip restaurant servers?
Replies: 44
Views: 2513

Re: Which countries really provide health care to all citize

There are various obfuscating terms like "universal health care" which make this hard to figure out. For example, Canada, I'm pretty sure, does give health coverage to all citizens, regardless of employment or income. However, Germany, which is often described as having "universal&qu...
by Wolkenspiel
Wed Aug 20, 2014 6:18 am
 
Forum: Personal Finance (Not Investing)
Topic: Which countries really provide health care to all citizens?
Replies: 12
Views: 1533

Re: Help talk family out of moving money to new attractive f

Would this be enough? "If you invest in index funds with comparable risk level to that other actively-managed fund, I guarantee the index funds will do better. I am so confident that I will pay you the difference if the actively-managed fund does better after you have ignored it and used index...
by Wolkenspiel
Tue Aug 19, 2014 5:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help talk family out of moving money to new attractive fund
Replies: 4
Views: 507

Re: Is buying two SUVs a sane/good financial move?

While it is true that 1000 lb or 5000 lb is pretty much the same against a 100,000 lb truck, the only collision the same as a fixed barrier is head-on collision of cars of equal mass. Look at the collision in the frame of reference moving with the center of gravity of the two vehicles. The much lar...
by Wolkenspiel
Sun Aug 17, 2014 10:50 pm
 
Forum: Personal Consumer Issues
Topic: Is buying two SUVs a sane/good financial move?
Replies: 63
Views: 4179

Re: Is buying two SUVs a sane/good financial move?

While drivers of large vehicles may feel safer than drivers of ordinary mid-sized cars, there seems to be little evidence they actually are. Given that, I think the answer to the OP's question is that it doesn't make sense to buy two SUVs. Better to buy an ordinary midsize car that is safer and get...
by Wolkenspiel
Sun Aug 17, 2014 10:34 pm
 
Forum: Personal Consumer Issues
Topic: Is buying two SUVs a sane/good financial move?
Replies: 63
Views: 4179

Re: Smooth perpetual withdrawal from risky assets [endowment

I may be missing the point of this thread, but it seems like the OP is trying to solve a problem that is well-known, and for which a number of prototypical solutions exist (that are applied to many mult-billion-dollar portfolios in the real world). A popular example seems to be the (modified) Tobin(...
by Wolkenspiel
Sun Aug 17, 2014 1:04 pm
 
Forum: Investing - Theory, News & General
Topic: Smooth perpetual withdrawal from risky assets [endowment fd]
Replies: 93
Views: 9717

Re: Europe travel: best card for ATM cash

What about traveler's checks? .... Normally, I'm traveling in large cities, and just use my credit card. But this trip is in the countryside of Tuscany. When I hear that we might not have internet connectivity, I feel like we are going to be seriously in the boonies (like the dogsledding trip in th...
by Wolkenspiel
Sat Aug 16, 2014 11:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Europe travel: best card for ATM cash
Replies: 33
Views: 2416

Re: Spouse not ready to cut ties with financial advisers

...and we add between 50-75k per year... If my wife and I were in your fortunate position, and she resisted change, I would point out to her that your yearly fees (1% to the advisors and 1-2% for the funds, ignoring the loads) about equal the money you add. I would be unhappy in a situation where m...
by Wolkenspiel
Sat Aug 16, 2014 11:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: Spouse not ready to cut ties with financial advisers
Replies: 112
Views: 10639

Re: Europe travel: best card for ATM cash

Debit cards all the way. I have used my Fidelity Visa debit card 100's of times in at least a dozen countries. NO fees at all and excellent exchange rates. Sometimes one has to be aware of the local rules (e.g. low limits on cash withdrawals in South Africa, no foreign cards in most ATMs in Okinawa)...
by Wolkenspiel
Sat Aug 16, 2014 11:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Europe travel: best card for ATM cash
Replies: 33
Views: 2416

Re: Help-Do I need a chip/pin card in europe?

I spent two months in Europe this summer (8 countries), armed with a collection of non-chip credit and debit cards. The only hardship i encountered was having to pay with cash on French toll-roads. It also took me a while to realize that when prompted for a PIN by hand-held card readers in restauran...
by Wolkenspiel
Sat Aug 16, 2014 5:52 am
 
Forum: Personal Finance (Not Investing)
Topic: Help-Do I need a chip/pin card in europe?
Replies: 22
Views: 2046

Re: Endowments: Paying for complexity or performance?

They can't fire a good fraction of their staff and send the endowment-supported students home every time the S&P500 has a bad year.... They can't? http://s13.postimg.org/l5717vd1j/Screen_Shot_2014_08_10_at_9_36_41_AM.png Well, I said "every time", and that's essentially what it came d...
by Wolkenspiel
Sun Aug 10, 2014 8:54 pm
 
Forum: Investing - Theory, News & General
Topic: Endowments: Paying for complexity or performance?
Replies: 14
Views: 1121

Re: Endowments: Paying for complexity or performance?

. I did a quick check of performance against my simple (public) equity:bond portfolio. 10 yr annualized return (%)/Standard Deviation: end June 2003 to end June 2013 Harvard Endowment = 9.4/15.2 My own portfolio = 9.2/15.4 While the Harvard Endowment is obviously much larger, I question the value a...
by Wolkenspiel
Sun Aug 10, 2014 8:21 am
 
Forum: Investing - Theory, News & General
Topic: Endowments: Paying for complexity or performance?
Replies: 14
Views: 1121

Re: Public Speaking-help

I always walk onto the stage or in front of the screen with the assumption that I know more than the audience, therefore they should be delighted to listen to me. In my mind I just live with the speaking assumption "someone put me up here for a reason, obviously I'm the expert in the room on t...
by Wolkenspiel
Thu Jul 31, 2014 10:47 pm
 
Forum: Personal Consumer Issues
Topic: Public Speaking-help
Replies: 79
Views: 5789
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