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Re: How much personal umbrella insurance should you get?

I have had $2M umbrella policy for several years. This year I increased it to $3M. This may be way more than I need but the extra $1M only cost $95 per year so it is cheap relative to the coverage. I got the impression from talking with insurance agent that few people insure beyond $1M, at least at ...
by johnep
Thu Dec 18, 2014 7:11 am
 
Forum: Personal Finance (Not Investing)
Topic: How much personal umbrella insurance should you get?
Replies: 3
Views: 649

Re: Thanking of mid career shift

I got my BS in Accounting degree at age 33. I was already well established in IT, with 11 years of experience and was a senior analyst. All of the top accounting firms were interested in me because I had a 3.9 GPA but they all wanted me as an entry level auditor which paid a lot less than I was maki...
by johnep
Wed Dec 17, 2014 4:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Thanking of mid career shift
Replies: 6
Views: 1481

Re: WHY is retirement enjoyable / something to look forward

Most people in their early career are enthusiastic and excited about learning, growing their skills and moving up the career ladder. Many in their 40s and 50s have plateaued in their career and also are more discerning about the politics and BS that occurs in organizations. They often become cynical...
by johnep
Wed Dec 17, 2014 4:35 pm
 
Forum: Personal Consumer Issues
Topic: WHY is retirement enjoyable / something to look forward to?
Replies: 137
Views: 7751

Re: Odds of portfolio survival = 90%; odds of my survival =

So to me, the problem is not the odds of dying at any particular age, but the odds of having a long drawn out decline and lingering death. What are the odds of that? Pretty high, I'd say. I think that's what most of us are afraid of, but I don't think there's any way to insure against that financia...
by johnep
Wed Dec 17, 2014 8:48 am
 
Forum: Investing - Theory, News & General
Topic: Odds of portfolio survival = 90%; odds of my survival = 0.1%
Replies: 167
Views: 9640

Re: How much is reasonable to spend on vacation?

Vacations and leisure time activities are important for pleasure and quality of life. Taking a nice vacation each year and perhaps a few weekend trips is highly recommended. The question is do you want to enjoy life commensurate with your budget and finances or do you want to defer vacations and oth...
by johnep
Mon Dec 15, 2014 8:48 am
 
Forum: Personal Finance (Not Investing)
Topic: How much is reasonable to spend on vacation?
Replies: 30
Views: 2847

Re: Advice needed re Financial Planner?

Thanks for the help everyone. Much appreciated. One poster asked their ages... they are in their mid-40's. I also spoke with my friend and he mentioned he had a question. What is the formula for him to figure out exactly how much cash he'd have if he decided to sell at $11mm? He estimated $7.5mm, b...
by johnep
Sun Dec 14, 2014 7:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Advice needed re Financial Planner?
Replies: 12
Views: 1486

Re: Does your work define you?

This can be challenging, especially for people with demanding jobs and those in leadership. I would encourage you to continue with your hobbies and also get involved in organizations outside of work such as social, civic or religious organizations that add a dimension to your life and enable you to ...
by johnep
Sun Dec 14, 2014 7:22 am
 
Forum: Personal Consumer Issues
Topic: Does your work define you?
Replies: 30
Views: 2716

Re: Umbrella Liability Insurance - Need it or not?

Umbrella insurance is probably the cheapest protection of your assets that you can buy. If you have accumulated a reasonable level of assets, $500k or better, then you should have it. Also advised for anyone with high paying job. A second reason to have it is you will be represented by the insurance...
by johnep
Sat Dec 13, 2014 7:12 am
 
Forum: Personal Finance (Not Investing)
Topic: Umbrella Liability Insurance - Need it or not?
Replies: 49
Views: 4481

Re: Why did you quit your job?

I retired at age 66 after a 47 year working career. I worked for 5 companies during that time, all for 5 years or longer except one. My first employer decided to relocate to South Florida after I had worked for them for 14 years. I decided not to go and got a job with a computer manufacturer about 1...
by johnep
Fri Dec 12, 2014 7:53 am
 
Forum: Personal Consumer Issues
Topic: Why did you quit your job?
Replies: 37
Views: 4240

Re: Retiring soon.

I think it would be complicated to try and manage your 3 distinct pools of money as one AA, given your different AA requirements. It sounds like you should manage them as 3 separate pools, which would simplify distributions. Each pool could have its own AA objectives, yours being slightly more aggre...
by johnep
Thu Dec 11, 2014 7:14 am
 
Forum: Investing - Help with Personal Investments
Topic: Retiring soon.
Replies: 10
Views: 2166

Re: How long did your IT career last? At what age did it en

My career in IT spanned 45 years from 1966 to 2010. I was very technical in my early years, developing and supporting OS and telecommunications software. I gravitated to IT management in 1978. I maintained my technical skills for a few years but eventually lost my technical skills as I focused upon ...
by johnep
Wed Dec 10, 2014 7:08 am
 
Forum: Personal Finance (Not Investing)
Topic: How long did your IT career last? At what age did it end?
Replies: 156
Views: 14606

Re: What is the best meal you've had at a restaurant?

I managed a project for a Bermuda client about 30 years ago that required me to take about a dozen business trips to Bermuda over a 3 year period. I ate at many restaurants all over the island and can honestly say I never had a bad meal. The food was consistently very good to excellent. I cannot rec...
by johnep
Wed Dec 10, 2014 6:19 am
 
Forum: Personal Consumer Issues
Topic: What is the best meal you've had at a restaurant?
Replies: 88
Views: 6555

Re: Did you parents and your childhood effect the way you ha

My parents grew up during the depression and their frugality definitely influenced me in a positive way. We were a blue collar household in Appalachia when I grew up in the 50s and early 60s. Both parents worked. We never lacked for anything that we needed but did not have a lot of extras. I was alw...
by johnep
Mon Dec 08, 2014 8:19 am
 
Forum: Personal Finance (Not Investing)
Topic: Did your parents/childhood affect the way you handle money?
Replies: 29
Views: 2052

Re: Advice on old beater car. Best way to get rid?

You should be able to get salvage value for it from local companies who do that without having to list on Craigslist. I sold an old Mazda Millenia that way last year. Opinions will vary on this forum, but I personally do not like to sell items like a car through Craigslist. We have had too many bad ...
by johnep
Thu Dec 04, 2014 7:46 am
 
Forum: Personal Consumer Issues
Topic: Advice on old beater car. Best way to get rid?
Replies: 34
Views: 2805

Re: I'm scared - online hacking

I do the following. It's not a guarantee of my safety online, but it limits the surface area for attacks while remaining practical. I don't for example have a separate computer just for my finances or use a VM. I do have a significant IT background and at one point ran the abuse department at a lar...
by johnep
Thu Dec 04, 2014 7:31 am
 
Forum: Personal Consumer Issues
Topic: I'm scared - online hacking
Replies: 44
Views: 4846

Re: 1st Moving Violation Traffic Ticket: Lawyer Up or Pay Fi

$400 sounds steep for 1 citation. You can usually go to traffic school and get the points off your record. However, if you got a second ticket within 3 years in NC after going to traffic school, the original points come back and you also get whatever points come with the 2nd ticket. Depending on the...
by johnep
Wed Dec 03, 2014 1:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: 1st Moving Violation Traffic Ticket: Lawyer Up or Pay Fine?
Replies: 18
Views: 1369

Re: Auto and Home Insurance Quotes

I have used State Farm for more than 30 years and have been very pleased with them. The few claims I have had were handled efficiently and fairly and I have found their rates to be competitive. I have been very pleased with our agent's office and service. I was surprised they were not included in th...
by johnep
Wed Dec 03, 2014 1:08 pm
 
Forum: Personal Consumer Issues
Topic: Auto and Home Insurance Quotes
Replies: 14
Views: 1149

Re: Request: Please share your best asking for a raise advic

IMO, the best approach is to simply ask your boss for a raise and present your case, which is your salary relative to market and how well you have performed. You need to convince your boss that it is time for a raise and that you are worth it. If that does not work, you have your answer, that it is ...
by johnep
Tue Dec 02, 2014 7:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Request: Please share your best asking for a raise advice.
Replies: 9
Views: 799

Re: Which degree makes more sense for a late starter

IMO, the MBA is clearly the best choice for an advanced degree. It gives you more options for your career, especially since you are not committed to a career in HR. As others have stated, law is more risky and uncertain due to too many lawyers chasing too few good jobs, and Masters in HR is too narr...
by johnep
Tue Dec 02, 2014 6:52 am
 
Forum: Personal Consumer Issues
Topic: Which degree makes more sense for a late starter
Replies: 54
Views: 3981

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. Which is most important to you? It sounds like EM is but you must decide. I would advi...
by johnep
Wed Nov 26, 2014 6:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Life changing decision... advice needed!
Replies: 91
Views: 10721

Re: Retirement around the corner, seeking advice on getting

You indicate some anxiousness of living off retirement savings until pension and SS kick in. You also want to help some people in the near term and possibly spend more than your frugal budget expenses. How will these factors affect your spending and life style between retirement and age 70? My back ...
by johnep
Mon Nov 24, 2014 8:28 am
 
Forum: Investing - Help with Personal Investments
Topic: Retirement around the corner, seeking advice on getting hous
Replies: 32
Views: 3497

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

My view is that the offer of 5.7% probably isn't all that bad----and not all that far off from what would be considered to be normal. A good rule of thumb in compensation is that----ceteris paribis----a promotional increase should be 2-3x what the average merit (or general) increase in/during any g...
by johnep
Sat Nov 22, 2014 1:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: How should wife counter salary offer within current co.?
Replies: 60
Views: 5586

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

Increase your cash allocation if you really think this is forthcoming. But understand if the market goes up 40% then crashes by a third and you remain in cash the entire time, you're still losing. Your point is valid but your math is not. 140% X (1-.33 =.67) = 93.8% = balance if you stayed in the m...
by johnep
Sat Nov 22, 2014 10:05 am
 
Forum: Investing - Theory, News & General
Topic: What would be the investing strategy for a coming crash?
Replies: 82
Views: 9201

Re: Retirees' Regrets

The advice to front load your bucket list is very wise, especially travel. I am 70 and DW is 71 and she already has some limitations, mostly inability to walk very far. I took a trip to the Holy Land this Spring with our church (DW decided not to go because she knew it would be strenuous). Many of t...
by johnep
Fri Nov 21, 2014 4:18 pm
 
Forum: Personal Consumer Issues
Topic: Retirees' Regrets
Replies: 23
Views: 2961

Re: Selecting Charities for Donation

I give to a number of Christian charities and a couple of secular ones. I make sure their mission is consistent with my beliefs and that the vast majority of funds go towards their mission and they have a low administrative percentage. Most are based in our area but a few are national or internation...
by johnep
Fri Nov 21, 2014 4:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Selecting Charities for Donation
Replies: 59
Views: 4453

Re: getting umbrella insurance

I was asked most of the above (occupation, do I have pool, boat, jetski, snowmobile, dog, etc, am I on a Board of directors) and was also asked if I entertain at home, how many time per year I invite guests to my house, how many guests, do I serve alcohol when I do so, do I know the people I invite...
by johnep
Fri Nov 21, 2014 7:30 am
 
Forum: Personal Finance (Not Investing)
Topic: getting umbrella insurance
Replies: 25
Views: 1529

Re: Bogleheads, tell me about your 40's?

Levett wrote:What was my major take away from my 40s? That human life is exceedingly fragile.

Recommendation: pay far more attention to your family than to your portfolio for the remainder of your life.

Happy trails.

Lev


+1. Great advice!
by johnep
Thu Nov 20, 2014 12:46 pm
 
Forum: Personal Consumer Issues
Topic: Bogleheads, tell me about your 40's?
Replies: 103
Views: 17204

Re: What were your biggest financial emergencies?

Replaced HVAC system that died during heat wave, $6,500

Dental work for DW this year, $7,000
by johnep
Thu Nov 20, 2014 7:08 am
 
Forum: Personal Finance (Not Investing)
Topic: What were your biggest financial emergencies?
Replies: 39
Views: 4514

Re: car sensor showing TPMS sign

I had new tires put on 2007 Toyota Avalon 2 weeks ago. Within a day, the tire sensor indicated a failure with a sensor. I took car back to Toyota today expecting to argue over cost/payment of a new sensor ($100+ plus install). Toyota said one sensor was not working and replaced at no charge without ...
by johnep
Mon Nov 17, 2014 10:30 am
 
Forum: Personal Consumer Issues
Topic: car sensor showing TPMS sign
Replies: 26
Views: 1876

Re: car sensor showing TPMS sign

Will a car pass inspection if the tire sensor light is on? If so, you would have to fix it whenever inspected.
by johnep
Mon Nov 17, 2014 8:01 am
 
Forum: Personal Consumer Issues
Topic: car sensor showing TPMS sign
Replies: 26
Views: 1876

Re: VWINX (Wellesley Inc.)

Wellesley has been a great fund and may continue to do so. However, it has taken advantage of the great bond bull market since the 1980s. For sure, we will not see that again for a long while. Interest rates are low now and may remain low for a while or rise. Either way, bond returns will be much lo...
by johnep
Mon Nov 17, 2014 6:08 am
 
Forum: Investing - Theory, News & General
Topic: VWINX (Wellesley Inc.)
Replies: 44
Views: 5511

Re: How Not to Retire

So what's the actionable point to this story? 1. Don't retire early if you don't have the means to weather certain adverse scenarios, 2. Don't give discretion of your brokerage account, with margin, to anyone. Don't use margin yourself, when you think you have retired. In fact, maybe just don't use...
by johnep
Mon Nov 17, 2014 6:00 am
 
Forum: Personal Finance (Not Investing)
Topic: How Not to Retire
Replies: 67
Views: 8012

Re: Society of Actuaries Increases Life Expectancy Projectio

This article from M* states: American men are living an average of two years longer than they were in 2000 (the last time the tables were revised), and women are getting an additional 2.4 years of life, according to new mortality projections from the Society of Actuaries (SOA). The SOA is the offic...
by johnep
Sat Nov 15, 2014 7:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Society of Actuaries Increases Life Expectancy Projections
Replies: 14
Views: 1702

Society of Actuaries Increases Life Expectancy Projections

This article from M* states: [/quote]American men are living an average of two years longer than they were in 2000 (the last time the tables were revised), and women are getting an additional 2.4 years of life, according to new mortality projections from the Society of Actuaries (SOA). The SOA is th...
by johnep
Fri Nov 14, 2014 7:48 am
 
Forum: Personal Finance (Not Investing)
Topic: Society of Actuaries Increases Life Expectancy Projections
Replies: 14
Views: 1702

Re: Medicare Questions

to get started http://www.medicare.gov/people-like-me/new-to-medicare/getting-started-with-medicare.html The home page is http://www.medicare.gov/ Pt B is medicare. Only Medicare offers it. You can supplement it (add to it) with a Medicare supplement, also called Medigap( There are a number of stan...
by johnep
Fri Nov 14, 2014 7:15 am
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Questions
Replies: 7
Views: 969

Re: Obligation to Parents?

My short answer to your question about an obligation to financially take care of parents is - No you do not have an obligation. My longer answer is a bit more from personal values/priorities. In the hierarchy of things that my wife and I value it is 1. God 2. Family and the rest goes on from there....
by johnep
Thu Nov 13, 2014 2:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Obligation to Parents?
Replies: 77
Views: 4284

Re: Assisted Living

This is becoming a reality for us. My DW has 2 brothers who now require care due to dementia. One is in an assisted living facility that provides a substantial level of care and the other is in a secure facility because he is a flight risk. It is very sad to see this happen. My mother lived in her o...
by johnep
Wed Nov 12, 2014 4:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Assisted Living
Replies: 24
Views: 2247

Re: When do you know it is time to switch jobs?

I am in my 30s and work in a small IT department in a big company. I do software development along with general IT support. I have been there for about 8 years now. I have done many projects that have been valuable to the company and management seems to like the work that I do. There is a decent wo...
by johnep
Wed Nov 12, 2014 8:14 am
 
Forum: Personal Consumer Issues
Topic: When do you know it is time to switch jobs?
Replies: 37
Views: 4419

Re: Strategies to protect retirement from depressn or long b

If we ever encounter anything like the great depression, it will be hard to have a financial strategy that works well for you. It is more like choosing the least bad strategy. I think having no debt and owning your home would help best. Being self reliant to the extent possible would be desirable. G...
by johnep
Wed Nov 12, 2014 7:47 am
 
Forum: Investing - Theory, News & General
Topic: Strategies to protect retirement from depressn or long bear?
Replies: 33
Views: 4107

Re: Reliable mid size car

I am a long time Camry owner. My most recent purchase was a 2014 Camry Hybrid. There is nothing terribly wrong with it but the ride, handling and road noise are much worse than my 2004 Camry, which even at its age and mileage, is a better ride than my new Camry. Also, the new Camry is notably smalle...
by johnep
Tue Nov 11, 2014 7:37 am
 
Forum: Personal Consumer Issues
Topic: Reliable mid size car
Replies: 23
Views: 2789

Re: Life purpose revisited

The Purpose-Driven Life by Rick Warren Amen. This is an excellent book for people of the Christian faith. For me, my faith is clearly number 1. Number 2 is family. I am blessed to have the same loving wife for 46 years, 2 grown children who are good citizens, and 3 grandchildren. 3 for me is to hav...
by johnep
Mon Nov 10, 2014 6:46 am
 
Forum: Personal Consumer Issues
Topic: Life purpose revisited
Replies: 55
Views: 8555

Re: Junk bond fund NAVs

Eric76 wrote: But as another poster stated, VWEHX initially had a NAV of $10.00 when it was launched. So even though there are obviously ups and downs (such as the move up since '08) the long term movement is lower, even if well managed. I believe It's the same with all high yield bond funds. PRHYX...
by johnep
Sun Nov 09, 2014 8:47 am
 
Forum: Investing - Theory, News & General
Topic: Junk bond fund NAVs
Replies: 91
Views: 7078

Re: Should I claim this damage

Once you have estimates for both vehicles, I would contact insurance agent if there is a question of whether to file claim or not. I have done this in the past and decided to not file a claim based upon their input. There were no repercussions to my premiums.
by johnep
Sun Nov 09, 2014 8:29 am
 
Forum: Personal Consumer Issues
Topic: Should I claim this damage
Replies: 26
Views: 3777

Re: How long to keep Health EOB and clinic statements?

I save all of my medical documents for the current year and the past year. I have found delays in billing and payments can take many months and occasionally there is a discrepancy or refusal of payment by insurance. These often need to be re-submitted for proper payment. One time I had to review rec...
by johnep
Sat Nov 08, 2014 9:02 am
 
Forum: Personal Finance (Not Investing)
Topic: How long to keep Health EOB and clinic statements?
Replies: 2
Views: 404

Re: Decision Time: insurance options

Looking at just for single max (not max for both)...it certainly appears that Option "B" is the best: ex: 13K expenses -- (B) $3000 OOP + 2147 + 1000 ded = 6147 (C) $2500 OOP + 4462 + 500 ded = 7462 ............. "B" wins by over $1300 ex: 21 K expenses --- (B) 5000 OOP + 2147 +...
by johnep
Sat Nov 08, 2014 8:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Decision Time: insurance options
Replies: 6
Views: 997

Re: "Easy" social security question...

Question: If you don't need the money is it always best to wait until you're 70ish to start drawing retirement benefits? No. There are cases in which, if you don't need the money (i.e., the insurance value is near zero, so we're just talking about maximizing total dollars available during your life...
by johnep
Sat Nov 08, 2014 7:54 am
 
Forum: Personal Finance (Not Investing)
Topic: "Easy" social security question...
Replies: 50
Views: 4205

Re: How can I find out how much a dealer would really pay fo

I suggest going to CarMax first. They will give you a no hassle wholesale price. You may do a little better with a dealer but probably not much if this is a straight sell. You can usually do better if you sell it yourself, especially if it is in good condition and a popular model. I have sold severa...
by johnep
Sat Nov 08, 2014 7:39 am
 
Forum: Personal Consumer Issues
Topic: How can I find out the actual value of my car?
Replies: 19
Views: 2916

Re: Collision claim on new auto policy - problems

TomatoTomahto wrote:I always call the police and file a report. Let the other driver lie to the police if he's so inclined.

+1. You should always call police.
by johnep
Fri Nov 07, 2014 1:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Collision claim on new auto policy - problems
Replies: 24
Views: 2178

Re: Avoid points in unsafe turn ticket!

It depends on the local jurisdiction. Many counties or districts have methods for keeping the points off your record. Call the court clerk and ask if there is a way to avoid the points. Sometimes, if you pay the fine in full with no contest, they will drop the points. Sometimes you have to do some ...
by johnep
Thu Nov 06, 2014 8:00 am
 
Forum: Personal Consumer Issues
Topic: Avoid points in unsafe turn ticket!
Replies: 48
Views: 2544
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