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Re: Help w/ adult child hard-wired for poor financial decisi

What prompted that was a period of a couple months where she was prone to occasional panic attacks in cacophonous environments, but it's been more than 5 years since the last occurrence.

Further evidence that her chosen lifestyle pleases her.
by letsgobobby
Wed Mar 25, 2015 10:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Help w/ adult child hard-wired for poor financial decisions?
Replies: 45
Views: 4581

Re: Help w/ adult child hard-wired for poor financial decisi

At Stanford one of my classmates intermittently lived in a van. It was eccentric, but she followed her own path. As far as I know she continues to be eccentric but happy. I am glad you could acknowledge this is as much about you as her.
by letsgobobby
Wed Mar 25, 2015 10:19 am
 
Forum: Personal Finance (Not Investing)
Topic: Help w/ adult child hard-wired for poor financial decisions?
Replies: 45
Views: 4581

Re: Help w/ adult child hard-wired for poor financial decisi

Keeping the medical diagnoses out of the discussion... I don't hear the emergency. You've set your limits and she has shown her ability to follow your rules. She's not going to follow a traditional path. Hard as it may be for you, is she really suffering? I still wonder if drugs might not be involve...
by letsgobobby
Tue Mar 24, 2015 3:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help w/ adult child hard-wired for poor financial decisions?
Replies: 45
Views: 4581

Re: Expensive 457 or taxable investing?

Index fund at 0.5% plus 0.75% = 1.25% is far from horrendous. Over a 20+ year career that is well worth using, particularly in your tax bracket.
by letsgobobby
Tue Mar 24, 2015 12:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Expensive 457 or taxable investing?
Replies: 6
Views: 304

Re: Expensive 457 or taxable investing?

How long does your wife expect to work at this job?
by letsgobobby
Tue Mar 24, 2015 9:06 am
 
Forum: Investing - Help with Personal Investments
Topic: Expensive 457 or taxable investing?
Replies: 6
Views: 304

Re: Should I invest my emergency fund?

I read this post by Dan Egan on the Betterment blog, and it really made a lot of sense to me: Safety Net Funds: Why Traditional Advice Is Wrong Their key takeaways: [list] [*]Don’t keep your safety net fund in cash savings accounts. Odds are you’ll lose money due to inflation, and lose out on poten...
by letsgobobby
Sun Mar 22, 2015 5:53 pm
 
Forum: Investing - Theory, News & General
Topic: Should I invest my emergency fund?
Replies: 71
Views: 5864

Re: refinance or pay down mortgage?

How about a 5/1 or 7/1 ARM? Sort of a compromise among the options.
by letsgobobby
Sat Mar 21, 2015 11:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: refinance or pay down mortgage?
Replies: 14
Views: 1458

Re: Driving from NYC to Seattle, Must See places?

If you've already skied Jackson Hole, I wouldn't skip Yellowstone to ski it again. It's an enormous country and there's so much to see. I'm into natural beauty and between NYC and Seattle (and skipping the places in Washington which are beautiful but accessible from your new home), I'd highlight the...
by letsgobobby
Sat Mar 21, 2015 12:03 am
 
Forum: Personal Consumer Issues
Topic: Driving from NYC to Seattle, Must See places?
Replies: 12
Views: 1070

Re: Do you have and auto loan?

No, never. We always pay cash for our automobiles. Auto loans are a huge mistake. If you cannot pay cash then buy a bicycle and save up. +1 If the interest rate on a car loan ever mattered to me, I think it would be a sign I should be looking for a WAY cheaper car. I guess it depends on what ones g...
by letsgobobby
Thu Mar 19, 2015 3:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: [Poll] Do you have an auto loan?
Replies: 63
Views: 3432

Re: 74% of car loans are subprime.

NPR reported this morning that 1/3 of all car loans are for 72 months or longer. I didn't catch if it was all, new, or used cars that they spoke of. I wonder if some has to do with our aging vehicle fleet. The average age was up to 9 years in 2013, 2 years longer than the 7 years which had been stab...
by letsgobobby
Thu Mar 19, 2015 11:38 am
 
Forum: Personal Finance (Not Investing)
Topic: 74% of car loans are subprime.
Replies: 29
Views: 1997

Re: Do you have and auto loan?

After negotiating our best price on a car, we took the 0% financing for 3 years. Why not? and can't argue with the results of having invested since October 2012.

Still, I'll be looking forward to my last payment of $811.33 in September, 2015.
by letsgobobby
Thu Mar 19, 2015 11:34 am
 
Forum: Personal Finance (Not Investing)
Topic: [Poll] Do you have an auto loan?
Replies: 63
Views: 3432

Re: Kotlikoff: When Should you Take Social Security?

I enjoy all the behavioral explanations but think many are too clever by half. Outside of the professional class, and sometimes even within it, the average American worker lives nearly paycheck to paycheck, has little cash on hand, and has at most a 5 figure retirement account. They claim at 62 beca...
by letsgobobby
Thu Mar 19, 2015 8:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Kotlikoff: When Should you Take Social Security?
Replies: 220
Views: 19536

Re: helping adult children with house downpayment

My parents loaned me 10%, then forgave the interest. As others have said you can give $28k per year to a single adult (if you are married); if you go over you eat into your lifetime exclusion which is now $5.x million per individual and $10.x million per couple, so perhaps that's not an issue anyway.
by letsgobobby
Wed Mar 18, 2015 6:59 pm
 
Forum: Investing - Theory, News & General
Topic: helping adult children with house downpayment
Replies: 30
Views: 2644

Re: 529 To Pay Rent to Parent

I am not a lawyer. I assume you were going to buy the rental anyway.

So you're asking, can you withdraw money tax free from your 529 (owned by you, child as beneficiary), then put the money in your bank account, in an amount equal to the rent that you are charging your child?
by letsgobobby
Wed Mar 18, 2015 1:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: 529 To Pay Rent to Parent
Replies: 7
Views: 668

Re: how often do you check performance?

About every 2-3 months I total up to check on progress against long term goals. I never compare to a benchmark. I have enough confidence in indexing to not worry self over what could only be tracking error. Now when I go on vacation for 1-2 weeks without access to the news, I don't even blink. It's ...
by letsgobobby
Wed Mar 18, 2015 1:00 am
 
Forum: Investing - Help with Personal Investments
Topic: how often do you check performance?
Replies: 50
Views: 2622

Re: What Movie Have You Recently Watched?

Really enjoyed Whiplash as did my wife, and it is rare for us to enjoy the same movie.
by letsgobobby
Tue Mar 17, 2015 8:55 pm
 
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 654
Views: 85277

Re: How much international is too much?

Oh, I'm definitely timing. And I'm definitely tinkering. Well if a board certified psychiatrist with over 7,500 posts can't stay the course, what hope is there for the rest of us? :confused :?: Why do you believe you know more than the market? :sharebeer Well, I'm just throwing a bone to Jan... I'v...
by letsgobobby
Tue Mar 17, 2015 3:22 pm
 
Forum: Investing - Theory, News & General
Topic: How much international is too much?
Replies: 113
Views: 9044

Re: Physician tail coverage

Another doc bites the dust. Sad state of affairs. I know so many docs who have retired in the last 12 months I've lost count. More would quit if they could afford to do so. Hope this move works out for your family.
by letsgobobby
Sat Mar 14, 2015 9:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Physician tail coverage
Replies: 10
Views: 659

Re: How much international is too much?

Wasn't the index like 70% international though in 1990 or so? The fact that the US is up to 50% is just a sign of irrational exuberance of US stocks for the past 25 years and when the bubble. Or a sign that the US is a better/more efficient place to invest. This seems to be the crux of the question...
by letsgobobby
Fri Mar 13, 2015 10:40 am
 
Forum: Investing - Theory, News & General
Topic: How much international is too much?
Replies: 113
Views: 9044

Re: [Poll] How long did you hold primary residence mortgage?

I've only paid off mortgages by refinancing the loan or selling the home. Condo: 4 years (sale). First home: 6 months (refi), 5 years (refi), 2 years (sale). Second home: 6 months (refi), 2 years (refi), 2 years (sale: target). The house we're moving into, we have 10 years remaining on a 12 year mor...
by letsgobobby
Fri Mar 13, 2015 12:37 am
 
Forum: Personal Finance (Not Investing)
Topic: [Poll] How long did you hold primary residence mortgage?
Replies: 34
Views: 2669

Re: U.S. Stock Valuations — Making History?

Earnings aren't reported according to the same standards throughout that time period. GAAP has changed pretty substantially. Most notably, there are more stringent depreciation/amortization/miscellaneous write downs required. So if company xyz earnings in 2015 are $1,000, prior accounting standards...
by letsgobobby
Fri Mar 13, 2015 12:33 am
 
Forum: Investing - Theory, News & General
Topic: U.S. Stock Valuations — Making History?
Replies: 46
Views: 4504

Re: How much international is too much?

I had a puppy, but he died. 16 good long years.

I just can't pass up a good sale.
by letsgobobby
Thu Mar 12, 2015 2:17 pm
 
Forum: Investing - Theory, News & General
Topic: How much international is too much?
Replies: 113
Views: 9044

Re: How much international is too much?

Oh, I'm definitely timing.

And I'm definitely tinkering.
by letsgobobby
Thu Mar 12, 2015 1:50 pm
 
Forum: Investing - Theory, News & General
Topic: How much international is too much?
Replies: 113
Views: 9044

Re: U.S. Stock Valuations — Making History?

The March 2009 CAPE was 13.32, which seems quite pedestrian for what was a generational, if not once in a lifetime, market pullback. Right, although I thought it was closer to 12 on an intraday basis around March 10. Wow, 6 years ago this week. But I think the point with PE10, if there is one at al...
by letsgobobby
Thu Mar 12, 2015 1:49 pm
 
Forum: Investing - Theory, News & General
Topic: U.S. Stock Valuations — Making History?
Replies: 46
Views: 4504

How much international is too much?

Is there an agreed upon upper limit of international stock exposure? According to Vanguard, on Dec 31 2013, the market weight of international stocks in a global index was 51%. I currently have 60% of stocks in international and am considering increasing to 70% or even 80%. How much is too much? My ...
by letsgobobby
Thu Mar 12, 2015 1:35 pm
 
Forum: Investing - Theory, News & General
Topic: How much international is too much?
Replies: 113
Views: 9044

Re: U.S. Stock Valuations — Making History?

Or we could be witnessing the demise of CAPE as a reputable measure. I never quite understood why incorporating a past [deep] earnings crash into the current price is supposed to be a good thing. 3-5 years from now, the CAPE will decline naturally even without a big adjustment of prices. I would gu...
by letsgobobby
Thu Mar 12, 2015 1:25 pm
 
Forum: Investing - Theory, News & General
Topic: U.S. Stock Valuations — Making History?
Replies: 46
Views: 4504

Re: Is this ethical? [Selling company equipment to be dispos

I think it's ok, as long as friend is clear he is boss' permission to dispose of phones. I mean, he could just bag them up and put them by the trash every Tuesday at 5:36, which happens to be the time you drive by. Because your friend is respecting the boss' wishes that he not use company time excep...
by letsgobobby
Sat Mar 07, 2015 8:25 pm
 
Forum: Personal Consumer Issues
Topic: Is this ethical? [Selling company equipment to be disposed]
Replies: 41
Views: 1973

Re: Lowering Taxable Income

EE bonds are best if you have a lot of visibility that your income will not be so high in exactly 20 years. If not, they can still be useful to defer income tax and earn a guaranteed 3.5% or so for the next 20 years. I bonds are a good idea. That's $45k per year in fixed income, tax-deferred, which ...
by letsgobobby
Sat Mar 07, 2015 4:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Lowering Taxable Income
Replies: 18
Views: 1810

Re: How do you decide when to buy car?

First car was a hand me down worth nothibg. It rusted out within 6 months and had to be towed away. That drove getting the second car, a 10 year old hand me down from an uncle worth $2600. That got totaled by a truck making an illegal turn. I bought a 4 year old Accord with 80k miles for $7000. I dr...
by letsgobobby
Sat Mar 07, 2015 10:32 am
 
Forum: Personal Consumer Issues
Topic: How do you decide when to buy car?
Replies: 50
Views: 3292

Re: US economy, $ strong -> implication for various asset cl

Economies and currencies go up and down. I hold for the long run and don't try to figure these things out any more. My one caution is not to hold too much in one country, the USA included. Economies and currencies go up and down.
by letsgobobby
Fri Mar 06, 2015 5:45 pm
 
Forum: Investing - Theory, News & General
Topic: US economy, $ strong -> implication for various asset class
Replies: 7
Views: 1023

Re: Portfolio help - Windfall 1.5M to 5M

Good quote, and why I recommend something simple and low risk for this situation barring a specific interest in managing complexity or possibly higher returns. To the extent you slice and dice, try to do it in tax advantaged accounts.
by letsgobobby
Fri Mar 06, 2015 5:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio help - Windfall 1.5M to 5M
Replies: 19
Views: 3924

Re: Which 529 plan are you using?

there are many good ones. NY, NV, UT, CA, and others. Just make sure to pick a direct-sold plan, not advisor-sold.
by letsgobobby
Fri Mar 06, 2015 4:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Which 529 plan are you using?
Replies: 49
Views: 2849

Re: Read WSJ every day ?

not every day or every article, but often and most of it. I still have the 2006 WSJ newspaper clipping in which they summarized the new law which would repeal the $100,000 income limitation on converting IRAs to Roth IRAs. From that day I began making non-deductible contributions for both of us; we ...
by letsgobobby
Fri Mar 06, 2015 4:18 pm
 
Forum: Personal Consumer Issues
Topic: Read WSJ every day ?
Replies: 101
Views: 6717

Re: Does My Daughter Need A Prenup?

Some people may argue otherwise, but IMO there is such a thing as "family wealth" and there is nothing wrong with doing what you can to ensure it is used to support and nurture family members. My wife inherited a moderately sized amount of money (low six figures), and as the "finance...
by letsgobobby
Fri Mar 06, 2015 4:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 5799

Re: Does My Daughter Need A Prenup?

[As part of the prenup in that case] [e]ach party also agreed not to assert or accept “any payment for support or other maintenance." . . . Carole alleges that the court erred by finding the prenuptial agreement was valid and enforceable and by refusing to award her maintenance . . . because w...
by letsgobobby
Fri Mar 06, 2015 3:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 5799

Re: Does My Daughter Need A Prenup?

Agreed one should seek legal advice for legal questions, IANAL and I'm sorry for insinuating that I was offering legal advice. I am all in favor of estate planning, open communication, asset protection, etc. Prior to getting married my family discussed these things, too, and on the advice of my pare...
by letsgobobby
Fri Mar 06, 2015 3:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 5799

Re: Does My Daughter Need A Prenup?

The OP is looking for a constructive advice; not for cheerleading, reprimand, or an opinion poll. The OP's family has a much greater wealth, the OP's daughter has a much higher income, and he understandably wants to protect the family wealth and the daughter's well-being. The future son-in-law bein...
by letsgobobby
Fri Mar 06, 2015 12:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 5799

Re: Does My Daughter Need A Prenup?

There is no obvious need for a prenup. Your daughter may have a high income and no debt, but unless she is bringing a huge amount of assets to the marriage there is nothing for her to protect prenuptially. Her future earnings would not be protected by a prenup. Inheritance plans are not typically pr...
by letsgobobby
Fri Mar 06, 2015 10:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 5799

Re: If you have $1 million...

But at what point do you realize that you truly have an "extra" million in the bank? For an obsessive Boglehead saver, that day may never come, much like walking on a treadmill toward a mountain vista that you can never reach. This question is really not about cars, or even a million dolla...
by letsgobobby
Fri Mar 06, 2015 9:58 am
 
Forum: Personal Finance (Not Investing)
Topic: If you have $1 million...
Replies: 65
Views: 6235

Re: If you have $1 million...

kchico wrote:How much of a nice car are we talking about?

Good question. More than just "nice." NICE.
by letsgobobby
Thu Mar 05, 2015 6:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: If you have $1 million...
Replies: 65
Views: 6235

Re: If you have $1 million...

nice new car We've bought two new cars in our lives, a minivan and a honda fit (as noted by an earlier poster, the new versions had safety features that were not available used). Given the comparison to what our support staff people drive (at my office and DW's office), I don't think they qualify a...
by letsgobobby
Thu Mar 05, 2015 3:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: If you have $1 million...
Replies: 65
Views: 6235

If you have $1 million...

or $2 million, or $5 million...

tell me how you feel.

this poll comes out of some interesting threads recently.
by letsgobobby
Thu Mar 05, 2015 2:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: If you have $1 million...
Replies: 65
Views: 6235

Re: Elect 75% of take-home pay to 401k?

Please note the Medicare and social security taxes are on the whole enchilada, not the amount after taxes or 401k contributions.
by letsgobobby
Thu Mar 05, 2015 10:13 am
 
Forum: Investing - Help with Personal Investments
Topic: Elect 75% of take-home pay to 401k?
Replies: 35
Views: 1708

Re: Do you consider mortgage payments as savings?

You're misunderstanding. SPENDING would be $100k leaving your checking account and appearing nowhere. It's gone. Savings is when $100k leaves your checking account and shows up as either an increased asset or a decreased liability. The amount that the asset increased or liability decreased is the a...
by letsgobobby
Wed Mar 04, 2015 3:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do you consider mortgage payments as savings?
Replies: 410
Views: 20079

Re: Do you consider mortgage payments as savings?

So why would a mortgage payment be savings any more than a car payment? A loan payment for art? ...But in reality, your house is nothing more than a purchase. The difference, and it is an important one, is that real estate has a positive expected return net of inflation. Therefore it becomes an inv...
by letsgobobby
Wed Mar 04, 2015 1:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do you consider mortgage payments as savings?
Replies: 410
Views: 20079

Re: Do you consider mortgage payments as savings?

I would consider an extra mortgage payment as an investment, because it serves the same purpose. If you have a 4% mortgage with ten years left on it, and you pay $1000 extra towards your mortgage today, you have eliminated a $1480 payment you would have to make ten years from now. This is just as g...
by letsgobobby
Wed Mar 04, 2015 1:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do you consider mortgage payments as savings?
Replies: 410
Views: 20079

Re: What if you already have a couple million?

Let's say you are 80/20 and reach some goal (in this case call it $2 million); then the advice some have given here is to adopt a 60/40 portfolio to reduce risk.

What if you had already been 60/40 when you reached your goal? Now, do you stay 60/40? Or do you reduce your risk further, say to 40/60?
by letsgobobby
Wed Mar 04, 2015 9:19 am
 
Forum: Investing - Help with Personal Investments
Topic: What if you already have a couple million?
Replies: 42
Views: 6542

Re: What if you already have a couple million?

Most people who accumulate $2 million by age 40 or 50 are unlikely to be happy retiring on $2 million at age 40 or 50. Mr. Money Mustache notwithstanding, people who accumulate those assets at those ages frequently have high incomes and at least somewhat of a lifestyle to match. They're not living o...
by letsgobobby
Tue Mar 03, 2015 2:54 am
 
Forum: Investing - Help with Personal Investments
Topic: What if you already have a couple million?
Replies: 42
Views: 6542

Re: done so soon? Firecalc says so

thanks, all. BTW vg will account for taxes in their plan. Fircalc doens't account for anything. ah, taxes. Knew I forgot something. :oops: It could be true particular if SS benefits are 1X by themselves. :) Ha, far from it! You'll have to ask my wife and kids why this is. I haven't looked at FC for ...
by letsgobobby
Sun Mar 01, 2015 4:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: done so soon? Firecalc says so
Replies: 15
Views: 1881
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