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Re: In-law Suite

this all depends on your local situation. In our city we have an "accessory dwelling unit" (ADU) ordinance that allows for a legal permitted 2nd (separate) unit in some circumstances. Or one can have accessory living quarters (part of main structure), guest quarters (attached but no kitche...
by freebeer
Thu Apr 24, 2014 1:19 am
 
Forum: Personal Finance (Not Investing)
Topic: In-law Suite
Replies: 13
Views: 935

Re: High Umbrella Limits - A waste

manwithnoname wrote:...You need umbrella insurance if you have substantial assets in case you get struck by the liability equivalent of lightning...


Do you carry insurance against lightning strikes too?
by freebeer
Thu Apr 24, 2014 12:51 am
 
Forum: Personal Finance (Not Investing)
Topic: High Umbrella Limits - A waste
Replies: 77
Views: 6520

Re: Why a million may not be enough

That author fails to account for INFLATION in that filler article, of course. Spend all the income from that million each year and soon it doesn't seem like as much as it once did, even if the payout interest rate was held constant... But soon enough you can't remember what your travel and fancy me...
by freebeer
Wed Apr 23, 2014 11:40 am
 
Forum: Personal Finance (Not Investing)
Topic: Why a million may not be enough
Replies: 32
Views: 4210

Re: Why a million may not be enough

It wasn't difficult to get a safe $70K-$80K from $1M if you bought an annuity. Wouldn't have adjusted for inflation, but that wasn't part of the claim. Not that I'm at all sure he was referring to annuities in the first place...I'm just saying that it was, at least in one respect, quite possible an...
by freebeer
Wed Apr 23, 2014 10:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Why a million may not be enough
Replies: 32
Views: 4210

Re: Does 529 really hurt the chance to get financial aid?

This is essential information that should go into every "pay off my mortgage?" thread. Tell me where you want your kid to go to college, and I will tell you if you should pay off your mortgage or not. True, but there's a lot more to it especially including if & how other assets (both ...
by freebeer
Wed Apr 23, 2014 12:44 am
 
Forum: Personal Finance (Not Investing)
Topic: Does 529 really hurt the chance to get financial aid?
Replies: 50
Views: 2511

Re: Hit your #, Still want to work, does your savings % chan

Whit wrote:I would save at least enough to get any matching funds. Why turn down free money?


Of course you don't have to (net) save to get any available matching funds, you can dip into taxable accounts and end up with 0% effective savings.
by freebeer
Tue Apr 22, 2014 1:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Hit your #, Still want to work, does your savings % change?
Replies: 47
Views: 3876

Re: Does 529 really hurt the chance to get financial aid?

But there are differences in how colleges define assets. Cornell, Stanford, Columbia and Duke, for example, take into account home equity. Harvard and Princeton do not, and neither does the federal formula. Which is why people with huge mortgages and little equity send their kids to Stanford, while...
by freebeer
Tue Apr 22, 2014 12:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does 529 really hurt the chance to get financial aid?
Replies: 50
Views: 2511

Re: The reverse world of retirement investing

... By and large, the more equities an investor has going into retirement, the lower her withdrawal rate should be. Do you have any factual basis for that statement? Simulation runs with Firecalc would suggest otherwise... 4% withdrawal with 75% equities is 94% success rate, 25% equities 79% succes...
by freebeer
Tue Apr 22, 2014 10:57 am
 
Forum: Investing - Theory, News & General
Topic: The reverse world of retirement investing
Replies: 34
Views: 4059

Re: Hit your #, Still want to work, does your savings % chan

I'm surprised no one mentioned kids. Ours haven't hit college yet, so potential grad school expenses and subsequent options for parental help are still a bit murky. Thus it seems reasonable to keep on saving away even though we're in all likelihood saving for them, or their kids, not for us (with ca...
by freebeer
Mon Apr 21, 2014 6:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Hit your #, Still want to work, does your savings % change?
Replies: 47
Views: 3876

Re: rehab or tear-down?

Is the current building non-conforming If so, pulling a new building permit for renovation will trigger code and zoning review. Roof work is likely to trigger building permit requirement in developed areas. I would get a clear understanding of that before deciding. If you had an inspection when you...
by freebeer
Sun Apr 20, 2014 8:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: rehab or tear-down?
Replies: 4
Views: 585

rehab or tear-down?

I recently made an un-Bogleheads purchase of investment property. It is 3 tax lots in a desirable location (perhaps even our future home site) in an appreciating area but will take some work to get fully developable (probably consolidating into 2 larger lots). I purchased the property for land value...
by freebeer
Sun Apr 20, 2014 3:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: rehab or tear-down?
Replies: 4
Views: 585

Re: The reverse world of retirement investing

... By and large, the more equities an investor has going into retirement, the lower her withdrawal rate should be. Do you have any factual basis for that statement? Simulation runs with Firecalc would suggest otherwise... 4% withdrawal with 75% equities is 94% success rate, 25% equities 79% succes...
by freebeer
Sat Apr 19, 2014 8:14 pm
 
Forum: Investing - Theory, News & General
Topic: The reverse world of retirement investing
Replies: 34
Views: 4059

Re: skewing to take advantage of capital-loss carryforward?

Any suggestions for Bogleheadian investments that would be more tax-efficient with respect to skewing towards throwing off capital gains rather than dividends, without unduly sacrificing expected total return? Nope. You seem to be doing the best one can do. Those carryforward losses will be very us...
by freebeer
Tue Apr 15, 2014 10:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: skewing to take advantage of capital-loss carryforward?
Replies: 8
Views: 618

Re: SCV premium is a history/math story, its not scientific

Oh, and of course we always need to remember that... "Investing is not a science."--John C. Bogle... Tell that to the quants that are making billions for proprietary trading firms via high frequency trading! Well, as LH noted each of us is part of the investing herd and what one does as p...
by freebeer
Tue Apr 15, 2014 9:55 am
 
Forum: Investing - Theory, News & General
Topic: SCV premium is a history/math story, its not scientific
Replies: 46
Views: 2268

Re: Do I take the separation package offer?

btw - regarding unemployment - you can get it written in to the agreement that the employer "will not contest the application for unemployment benefits". Essentially, insuring in writing that you should be able to successfully apply for unemployment. It's worth asking, but OP already said...
by freebeer
Tue Apr 15, 2014 9:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Do I take the separation package offer?
Replies: 52
Views: 4879

Re: skewing to take advantage of capital-loss carryforward?

Any suggestions for Bogleheadian investments that would be more tax-efficient with respect to skewing towards throwing off capital gains rather than dividends, without unduly sacrificing expected total return? Nope. You seem to be doing the best one can do. Those carryforward losses will be very us...
by freebeer
Mon Apr 14, 2014 9:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: skewing to take advantage of capital-loss carryforward?
Replies: 8
Views: 618

Re: The slackening...

Recently read a wonderful novel by Phillipp Meyer, "The Son", about the origins of a very wealthy Texas rancher/oilman, and his many descendants.... What's interesting to me about this is how everyone puts it on the descendents . But, the successful self-made entrepreneur is really the &q...
by freebeer
Mon Apr 14, 2014 6:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: The slackening...
Replies: 61
Views: 6552

Re: How much is rich?

... To be in the 1%, one needs to have family wealth over about $15 million ...Source for the statistics: http://www2.ucsc.edu/whorulesamerica/power/wealth.html Misleading and incorrect. The $15 million number is the *mean* of wealth in the top 1% which is of course skewed by the ultra-wealthy few....
by freebeer
Sun Apr 13, 2014 10:53 am
 
Forum: Personal Finance (Not Investing)
Topic: How much is rich?
Replies: 47
Views: 2466

Re: How much is rich?

... To be in the 1%, one needs to have family wealth over about $15 million ...Source for the statistics: http://www2.ucsc.edu/whorulesamerica/power/wealth.html Misleading and incorrect. The $15 million number is the *mean* of wealth in the top 1% which is of course skewed by the ultra-wealthy few....
by freebeer
Sun Apr 13, 2014 9:10 am
 
Forum: Personal Finance (Not Investing)
Topic: How much is rich?
Replies: 47
Views: 2466

skewing to take advantage of capital-loss carryforward?

I noticed this year that our tax bill from dividends is getty pretty high, even though we have a simple portfolio with majority of our taxable equity allocation in TSM (VTSAX) and only 3 other holdings being slices for small-cap, total international, and emerging markets (VSMAX, VTIAX, and VEMAX). W...
by freebeer
Sat Apr 12, 2014 12:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: skewing to take advantage of capital-loss carryforward?
Replies: 8
Views: 618

Re: REITS up (Still impossible to time the mkt)

I have stuck with my REITs despite excellent posts by Dr. Bernstein, Larry Swedroe, and Garland Whizzer stating their informed opinions that REITs are overvalued compared to historical measures. I am still buying them... Do you have your own informed opinion that is contrary to those of Dr. Bernste...
by freebeer
Sat Apr 12, 2014 10:57 am
 
Forum: Investing - Theory, News & General
Topic: REITS up (Still impossible to time the mkt)
Replies: 13
Views: 1932

Re: Expensive med. test not covered by insurance

... The doctor is responsible for practicing medicine. What your insurance covers or how you finance the payment is, unfortunately, not the doctor's responsibility... This may be, technically, true. That being said my internist is extremely clear with me about what his understanding is of what insu...
by freebeer
Sat Apr 12, 2014 10:34 am
 
Forum: Personal Consumer Issues
Topic: Expensive med. test not covered by insurance
Replies: 74
Views: 3890

Re: Do I take the separation package offer?

What is not clear is what are the expected alternative benefits if you stay until your planned retirement date a year from now. If the answer is "nothing" then I agree with the other responses - take it! But if there are other benefits that would accrue if you stayed another year, such as ...
by freebeer
Tue Apr 08, 2014 2:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do I take the separation package offer?
Replies: 52
Views: 4879

Re: Property investment: should my name be on the deed?

One question is whether you are will be the "passive" investor and your friend the "active" manager of the rehab (since he's in the construction business). If he is in some sense acting like the general contractor then does he get a fee for this on top of splitting the profits? I...
by freebeer
Mon Apr 07, 2014 9:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Property investment: should my name be on the deed?
Replies: 15
Views: 703

Re: Putting $ away for children

It's very simple. Money in a UGMA/UTMA belongs to the child. When the money is given, it belongs to the child. Which part of "belongs to the child" do you not understand? When the child becomes a major, the custodian's rights should be terminated and the UTMA retitled properly in the name...
by freebeer
Thu Apr 03, 2014 11:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Putting $ away for children
Replies: 103
Views: 5444

Re: building owners - Joint Tenants vs Tenants in Common

+1 to your needing a laywer. FWIW, I've found avvo.com to be a great place to get free legal advice from attorneys and preview who in your area has the relevant expertise (with caveat that the attorneys who have enough time to answer questions on avvo.com to troll for clients are probably not at the...
by freebeer
Wed Apr 02, 2014 11:36 am
 
Forum: Personal Finance (Not Investing)
Topic: building owners - Joint Tenants vs Tenants in Common
Replies: 2
Views: 235

What would a Bogleheads Variable Annuity Look Like?

We know we can get higher lifetime spending by pooling mortality risk (annuitizing). But the insurance companies who offer SPIAs tack on extra fees and in order to guarantee meeting their obligations have to make ultra-safe investments which means you are getting less spending and are subject to inf...
by freebeer
Wed Mar 12, 2014 2:06 am
 
Forum: Investing - Theory, News & General
Topic: What would a Bogleheads Variable Annuity Look Like?
Replies: 6
Views: 633

Re: Stay or move is the financial question.

I lived 15 years in the Bay Area and would take a 50% pay cut to live there instead of 25 minutes outside of Dallas! Well I suppose that's a slight exaggeration but still... I too like trees and mountains. And oceans and beaches. And... well, politics is banned on this forum. :shock: But... Bay Area...
by freebeer
Wed Mar 12, 2014 1:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Stay or move is the financial question.
Replies: 21
Views: 1567

Re: Retirement Account Growth exceeds Annual Retirement Expe

We're at the next inflection point - average return on investable assets (you said retirement accounts but I also include our taxable brokerage accounts, but not RE or 529s which hopefully have funded kids college) is more than double our estimated retirement expenses. At age 53 (DW age 47) we are b...
by freebeer
Tue Mar 11, 2014 11:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retirement Savings Growth exceeds Annual Retirement Expense
Replies: 29
Views: 2907

Re: William Bernstein-When you've won the game, why keep pla

I think the whole concept of "won the game" is nonsensical. Why would you not want to continue to grow your portfolio at a risk that is acceptable to you. Taking one's money off the table is a risk in itself. I for one will stay in the game until I breathe my last. Because your attempts t...
by freebeer
Tue Mar 11, 2014 10:33 pm
 
Forum: Investing - Theory, News & General
Topic: William Bernstein-When you've won the game, why keep playing
Replies: 241
Views: 25068

Re: any gotchas with 401K consolidation?

If the 401(k) you're abandoning has a Stable Value fund you may want to keep it. Billy Assume that both 401Ks have adequate choice of low-cost VG funds to implement my investment policy (again the one issue being lack of Admiral class options in the current employer 401K). My question remains wheth...
by freebeer
Tue Mar 11, 2014 10:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: any gotchas with 401K consolidation?
Replies: 5
Views: 608

any gotchas with 401K consolidation?

I realized I might qualify for the separation-from-service exception to 10% penalty on early withdrawals if I stick with my current employment another 20 months and get to the year I'll turn 55, not a biggie as I could spend from taxable, but drawing down tax-deferred balances could minimize overall...
by freebeer
Tue Mar 11, 2014 1:32 am
 
Forum: Investing - Help with Personal Investments
Topic: any gotchas with 401K consolidation?
Replies: 5
Views: 608

Re: William Bernstein-When you've won the game, why keep pla

... Dr Bernstein makes a mention in that interview with Money magazine, of risk in those years - " A lot of people had won the game before the crisis happened: They had pretty much saved enough for retirement, and they were continuing to take risk by investing in equities. Afterward, many of t...
by freebeer
Mon Mar 10, 2014 9:55 pm
 
Forum: Investing - Theory, News & General
Topic: William Bernstein-When you've won the game, why keep playing
Replies: 241
Views: 25068

Re: William Bernstein-When you've won the game, why keep pla

... once you have saved 25 X yearly expenses... I am 57 and plan to retire at 60 The issue I see is that 25 X yearly expenses is not quite having "won the game". That implies a withdrawal rate of 4% of the starting balance, which many (most?) feel is no longer safe given current environme...
by freebeer
Mon Mar 10, 2014 9:18 pm
 
Forum: Investing - Theory, News & General
Topic: William Bernstein-When you've won the game, why keep playing
Replies: 241
Views: 25068

Re: Staying the Course has never been harder

I think staying the course has never been *easier* - we have all been through a 100-year-scale market crash, one that led many even long-timers on this forum to talk about "capitulation", yet those of us who stayed the course are now well ahead of the game. Those of us who panicked and sol...
by freebeer
Sun Mar 09, 2014 3:08 pm
 
Forum: Investing - Theory, News & General
Topic: Staying the Course has never been harder
Replies: 45
Views: 4647

Re: You Will Be Investing For Free In 5 Years - Article

... high price investing will STILL continue however. The reason is not because of the demand from retail investors, but from the industry's influence of 401k plans, pension plans, and endowments. I am sorry to say it is the professional folks and NOT the retail investor that has not learned about ...
by freebeer
Sun Mar 09, 2014 4:35 am
 
Forum: Investing - Theory, News & General
Topic: You Will Be Investing For Free In 5 Years - Article
Replies: 21
Views: 5348

Re: $5k-$10k CUV/SUV recommendations?

Last spring we picked up a 2007 CR-V as a 2nd car, first year of the 3rd gen that went on through 2011 with few changes. And many folks (inc. us) like the 3rd gen looks better than the current 4th gen. We found a 4x4 in LX trim level with low miles from orig owner at a good price and I expect it wil...
by freebeer
Sat Mar 08, 2014 11:05 pm
 
Forum: Personal Consumer Issues
Topic: $5k-$10k CUV/SUV recommendations?
Replies: 7
Views: 689

Re: Questions about a Lingering Divorce

For the home, the key question is how much equity is there. Given Boston RE market I assume it's well "above water". Independent of the rest of the financial analysis it would probably make sense to sell it immediately and divide/invest the proceeds, all you need for that is a RE agent. Yo...
by freebeer
Sat Mar 08, 2014 11:49 am
 
Forum: Personal Finance (Not Investing)
Topic: Questions about a Lingering Divorce
Replies: 28
Views: 1601

Re: Your stock/bond mix for those ~20 yrs from retirement

... Suppose you are 47 years old in Feb-2014 and will retire in 20 years (Feb-2034) at age 67. To keep the numbers easy, suppose you determine that you will require a minimum of $6,221 per month or $74,652 per year starting in 2034. If I go to http://www.immediateannuities.com, a man 67 can buy an ...
by freebeer
Sat Mar 08, 2014 11:11 am
 
Forum: Investing - Help with Personal Investments
Topic: Your stock/bond mix for those ~20 yrs from retirement
Replies: 42
Views: 2792

Re: Bridging from Early Retirement to SS

I think the main point is that your proposed strategy almost certainly gives you better odds of sustainable spending at your desired level in the case of a market downturn early in retirement than taking SS earlier than 70. Because you get an actuarially-fair inflation adjusting annuity from SS and ...
by freebeer
Fri Mar 07, 2014 12:37 am
 
Forum: Investing - Help with Personal Investments
Topic: Bridging from Early Retirement to SS
Replies: 9
Views: 1489

Re: Overseas investor interested in US real estate

Absentee landlord is asking for failure, at least based on personal experience with six rental houses that were only 150 miles from our residence. You lose the ability to save by doing some work/maintenance yourself, and your renters have a psychological advantage if they decide to skip town since ...
by freebeer
Thu Mar 06, 2014 6:19 am
 
Forum: Personal Finance (Not Investing)
Topic: Overseas investor interested in US real estate
Replies: 14
Views: 761

Re: How much is a fair hourly fee?

Attorneys, accountants, and other client-oriented service providers regularly bill over 2,000 hours per person per year, = 40 hours x 50 weeks (see e.g. http://www.nalp.org/billablehours). We live in different universes... I don't know of any CPA who regularly bills at that level of chargeability. ...
by freebeer
Wed Mar 05, 2014 12:32 am
 
Forum: Investing - Theory, News & General
Topic: How much is a fair hourly fee?
Replies: 86
Views: 4844

Re: Yet another 4% article

...Trying to figure out how much I can spend in a given year smacks of spending more than someone can afford versus living below one's means. Even if those means are one's retirement assets. Living below one's means is a time-honored Bogleheads principle with which I don't think anyone on this foru...
by freebeer
Tue Mar 04, 2014 3:53 pm
 
Forum: Investing - Theory, News & General
Topic: Yet another 4% article
Replies: 12
Views: 1407

Re: where to go to make a database

... though I am not doing the website with the intent of making money, it could very possibly be profitable down the road. I would want to protect myself, I have heard you trademark the idea? Do I go to lawyer and pay high rates and expect them to protect me? I am very very new at anything like thi...
by freebeer
Tue Mar 04, 2014 12:30 am
 
Forum: Personal Consumer Issues
Topic: where to go to make a database
Replies: 5
Views: 460

Re: Helping an irresponsible dad preserve a financial windfa

...an SPIA annuity seems to be the best option. A quick calculator shows a 58-year old male would get $1200 or so per month from $250,000 (and that's with the principle guarantee and inflation protection, which I suspect he might appreciate). ... Inflation protection, yes, although these are genera...
by freebeer
Mon Mar 03, 2014 8:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Helping an irresponsible dad preserve a financial windfall
Replies: 29
Views: 2406

Re: Is John Bogle Wrong on Retirement Asset Allocation?

This is the one area where Mr. Bogle confuses me! I really enjoy reading his articles, books, and watching his interviews, but this whole social security and pension area just not agree with his advice of "age in bonds"... Well again "age in (bonds + NPV of social security)" is ...
by freebeer
Mon Mar 03, 2014 7:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Is John Bogle Wrong on Retirement Asset Allocation?
Replies: 43
Views: 4836

Re: How much is a fair hourly fee?

Like others I don't think $250/hour is ...as it imputes roughly $500K/year compensation for the advisor. But it's not like a salary, it's more like a consulting fee. You might only spend a few hours working up a plan for a client and that's all they want. It seems like you would have to be off the ...
by freebeer
Mon Mar 03, 2014 12:52 am
 
Forum: Investing - Theory, News & General
Topic: How much is a fair hourly fee?
Replies: 86
Views: 4844

Re: TIPS & Sequence of Return Risk

... And of course the unstated point is to save enough to get to 3% annual withdrawal means working years longer... Why would you assume that anyone has to work longer than 65yo to save 33x expenses? Isn't it obvious that one has to work significantly longer (and/or spend significantly less en rout...
by freebeer
Mon Mar 03, 2014 12:26 am
 
Forum: Investing - Theory, News & General
Topic: TIPS & Sequence of Return Risk
Replies: 27
Views: 1822

Re: How much is a fair hourly fee?

Like others I don't think $250/hour is unfair and for you Rick it'd be a bargain. But I do think it's high except maybe in Manhattan, as it imputes roughly $500K/year compensation for the advisor. And unlike a lawyer who's had to go to years of law school and then pass the bar exam and so on the fin...
by freebeer
Sun Mar 02, 2014 11:48 pm
 
Forum: Investing - Theory, News & General
Topic: How much is a fair hourly fee?
Replies: 86
Views: 4844

Re: The "Deceased" Stamp

??????
by freebeer
Sun Mar 02, 2014 10:35 pm
 
Forum: Personal Consumer Issues
Topic: The "Deceased" Stamp
Replies: 10
Views: 1079
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