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Re: Any success stories of ppl who never made >$50,000?

I think this is completely dependent on where you live and the cost of living involved. If you making that kind of money in most rural areas or small towns in the south or midwest where homes can cost $100k or below and the median household income is $30k, you are doing well for yourself. In a place...
by mathwhiz
Wed Sep 17, 2014 10:29 am
 
Forum: Personal Finance (Not Investing)
Topic: Any success stories of ppl who never made >$50,000?
Replies: 149
Views: 9029

Re: Retiring at 25? Help with allocation

@mathwiz, If I plan to live solely off the interest within 2-3 years already, wouldn't it be wise to have a good portion in bonds? If the market goes down like in 2008 and I'm retired already, it'd be very hard for me to come up with another $3 million... Even though I'm young, I'm still 2 years aw...
by mathwhiz
Wed Jun 25, 2014 9:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: Retiring at 25? Help with allocation
Replies: 9
Views: 2866

Re: Retiring at 25? Help with allocation

You are so very young that I don't think a withdrawl rate greater than 2% makes much sense. If you have $3 million, I'd stay aggressive 80/20 or 90/10 equities and learn to live off of the dividends and interest alone which should yield approximately $60k-$80k a year.
by mathwhiz
Wed Jun 25, 2014 7:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: Retiring at 25? Help with allocation
Replies: 9
Views: 2866

Fidelity Spartan Global ex-US Fund Dividends

The Fidelity Spartan Global ex-US fund ( FSGDX ) has a yield significantly lower than the comparable fund from Vanguard (VFWAX / VEU). It's 1.47% vs. 3.09%. Is this because the Fidelity fund is new and has been rapidly growing assets from $80 million two years ago to over $400 million now? I'm guess...
by mathwhiz
Wed Jun 25, 2014 5:42 pm
 
Forum: Investing - Theory, News & General
Topic: Fidelity Spartan Global ex-US Fund Dividends
Replies: 1
Views: 311

Re: How much $$ to change jobs?

I think moving to the private sector would be a mistake in your situation. Why leave a low stress cushy job where you are more likely to drop dead on the job than be fired? This is actually a true statistic. The number of employees who die each year while in a federal government job is greater than ...
by mathwhiz
Fri Jun 20, 2014 8:59 am
 
Forum: Personal Finance (Not Investing)
Topic: How much $$ to change jobs?
Replies: 52
Views: 4218

Re: Frustration with medical providers

I hope you your state protects your homestead and assets in tax sheltered accounts from judgments. Likewise, I hope you have very little assets or money in taxable accounts. It will make the eventual bankruptcy filing when you get that heart attack and $1 million + hospital bill for weeks in hospita...
by mathwhiz
Fri Jun 13, 2014 5:08 pm
 
Forum: Personal Consumer Issues
Topic: Frustration with medical providers
Replies: 24
Views: 1759

Re: Pre-nup at only $1M networth, do I need it?

Depending on your state laws, the assets in your name prior to marriage should remain yours after divorce. Just don't comingle funds then all bets are off. Keep the assets completely separate. Capital gains, dividends, and interest during marriage may be vulnerable in a divorce. Also, don't expect a...
by mathwhiz
Mon May 26, 2014 5:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pre-nup at only $1M networth, do I need it?
Replies: 199
Views: 12777

Re: Husband just lost job

You may have to plan for the worst case scenario if your husband does not regain his employment. NY is a high cost of living state and you probably have substantial equity in your home since NY housing prices are much higher than the national average. You should start investigating employment opport...
by mathwhiz
Sat May 24, 2014 5:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Husband just lost job
Replies: 60
Views: 6629

Re: How much is rich?

Rich to me is freedom from having to work. Not having to work means you are able to generate enough income off of your investments to live comfortably. This number is different for people at different stages of their lives. So, I'd say rich start at about $2 million. At a 2% withdraw rate for a very...
by mathwhiz
Sun Apr 13, 2014 11:00 am
 
Forum: Personal Finance (Not Investing)
Topic: How much is rich?
Replies: 47
Views: 2825

Re: A story, and a feeling of financial under-accomplishment

A year break may be a good idea. Plus it would give me time to save up the cash to pay for the degree outright. I still live with my mom, so despite having a takehome pay of 2 grand per month post-everything (my pension costs 4.5%, health, life, and dental insurance is free), I live on basically 80...
by mathwhiz
Fri Apr 11, 2014 12:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: A story, and a feeling of financial under-accomplishment
Replies: 48
Views: 6950

Re: A story, and a feeling of financial under-accomplishment

Your story is a lot more common than you think, especially for your age group 18-29 coming of age in the great recession. It could be worse. You could have graduated with your bachelor's in 2008 with $100k in debt, living with your folks and making $10k a year in menial jobs. Or worse, going to grad...
by mathwhiz
Fri Apr 11, 2014 11:03 am
 
Forum: Personal Finance (Not Investing)
Topic: A story, and a feeling of financial under-accomplishment
Replies: 48
Views: 6950

Extreme ways to avoid college loan debt

I thought this article was interesting. The most interesting one to me was getting married before college as automatic emancipation as far as financial aid is concerned. I'm sure this would be considered extreme, but in the right situation it could work. If there are 2 kids in a relationship where t...
by mathwhiz
Fri Apr 04, 2014 2:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Extreme ways to avoid college loan debt
Replies: 8
Views: 636

Re: Laid Off at 53.5...need better allocation...how to get t

Yes, absolutely dial it down to 60% equities tomorrow. This is a no brainer and you are lucky to be laid off now when the market is at record highs then in 2009 when the market was 60% lower. The bull market is over 4 years old and chances of a substantial correction are high. Not a big deal to some...
by mathwhiz
Wed Apr 02, 2014 10:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Laid Off at 53.5...need better allocation...how to get there
Replies: 22
Views: 2472

Re: New Friends are the Anti-Bogleheads, what to do?

They could be heavily in debt, but on the other hand maybe one of them was a trust fund baby worth $10 million? In other words, you can't really know what their finances are like. It's not really any of your business unless they ask you for advice or start bumming you up for money.
by mathwhiz
Sun Mar 30, 2014 2:05 am
 
Forum: Personal Finance (Not Investing)
Topic: New Friends are the Anti-Bogleheads, what to do?
Replies: 93
Views: 9004

Re: Frugal Fatigue

Eating out is over rated. It's also my experience the more you eat out, the more obese you get. It's much easier to over eat and the portions and nutritional value at most restaurants have a lot to be desired.
by mathwhiz
Sat Mar 29, 2014 1:09 pm
 
Forum: Personal Consumer Issues
Topic: Frugal Fatigue
Replies: 96
Views: 11164

Re: Fixing Excess Roth contribution then converting back

Yes, the contribution was specified as 2014 when I made it. I only have the Roth IRA account currently. I'll have to open a traditional IRA first to re characterize. I have a 401k at work so had no need for a traditional IRA outside work. I think the plan going forward would be to covert immediately...
by mathwhiz
Fri Mar 28, 2014 12:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: Fixing Excess Roth contribution then converting back
Replies: 4
Views: 196

Fixing Excess Roth contribution then converting back

I made a $5500 contribution to my personal Roth IRA at Fidelity in the beginning of January thinking our household income would be below the $181k. Well, there's a very high probability we will be getting income later this year that will cause us to be well above this limit. So, if I understand corr...
by mathwhiz
Fri Mar 28, 2014 11:26 am
 
Forum: Investing - Help with Personal Investments
Topic: Fixing Excess Roth contribution then converting back
Replies: 4
Views: 196

Re: Children: Are they worth every penny?

The thing is most families have "issues." It's not all It's a Wonderful Life. I hate to be a downer but my family and my wife's family have its fair share of drug addiction, teenage pregnancies, underachievers, lazy/dumb/stupid people. I have to think the more kids, the less personal atten...
by mathwhiz
Wed Mar 19, 2014 2:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Children: Are they worth every penny?
Replies: 68
Views: 5134

Re: Replace less than 80% of income in retirement?

Despite the common wisdom, expenses in retirement can well exceed pre-retirement income. The culprit is usually health care expenses not covered by Medicare/Medigap. Long-term care (either in-home or in a facility), assisted living, or just multiple Medicare/Medigap deductibles for "frequent f...
by mathwhiz
Thu Mar 06, 2014 11:57 pm
 
Forum: Investing - Theory, News & General
Topic: Replace less than 80% of income in retirement?
Replies: 52
Views: 3427

Re: Replace less than 80% of income in retirement?

You make do. There are tens of millions of folks living on social security alone with incomes less than $20,000 a year. So, yeah you'll probably be fine replacing 50-60% of your income. You'll have to just adjust your spending and probably not be taking exotic trips all over the world each year.
by mathwhiz
Thu Mar 06, 2014 10:04 am
 
Forum: Investing - Theory, News & General
Topic: Replace less than 80% of income in retirement?
Replies: 52
Views: 3427

Re: Young, rich, hopefully not dumb

My guess is you got lucky in a Silicon Valley startup? I can't think of any other industry outside of music/entertainment where someone your age can make that kind of bank. Get residency in a state with no state income tax ASAP. 10% of your income thrown away each year on taxes at your income level ...
by mathwhiz
Fri Feb 28, 2014 3:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Young, rich, hopefully not dumb
Replies: 51
Views: 6911

Re: Leaving a small amount of student debt for child to pay

I think you should let your kid make the choice. Agree to pay 100% of a community college or 4 year public state education. If they choose to go to a private school, they are on the hook for that. Likewise, they are on the hook for grad school and/or med/business/law schools.
by mathwhiz
Fri Feb 21, 2014 7:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Leaving a small amount of student debt for child to pay off?
Replies: 45
Views: 2913

Re: Fidelity Amex - statement charges

The $100 charge for the gas stations is very common. Apparently, that is the limit at the pump. The pump basically verifies that your credit limit is at least $100. Then you pump your gas and the charge changes to the correct charge when it posts. I've also seen weird names that change when a card p...
by mathwhiz
Wed Feb 19, 2014 2:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Fidelity Amex - statement charges
Replies: 7
Views: 458

Re: taxes done and…why is my spouse working?

OF course, I am also a tax professional, so I have always been well aware we save a bajillion dollars in taxes. Which is why the lifestyle creep comes off as so ridiculous to me. You may have a larger income, but is it really that much larger after you pay your taxes and working expenses? In the ca...
by mathwhiz
Sun Feb 16, 2014 5:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: taxes done and…why is my spouse working?
Replies: 90
Views: 9170

Re: Help! Young, too much money, and seriously lost...

Agreed, holding a large taxable account without maxing out your 401k is madness. :oops: Contribute the full $17,500 every year, as long as you still have a taxable account, even if you have to sell from the taxable account to make up living expenses. (Obviously, be careful not to let that be an exc...
by mathwhiz
Sat Feb 15, 2014 5:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help! Young, too much money, and seriously lost...
Replies: 22
Views: 3109

Re: Raising kids in a small town vs. big city/suburbs

I grew up in an extremely rural area and was socially handicapped. By that I mean I was extremely unsophisticated compared to my classmates when I hit college. It literally took years for me to catch up socially, although I did fine academically. (Stop assuming the worst about people and their moti...
by mathwhiz
Tue Feb 11, 2014 9:05 pm
 
Forum: Personal Consumer Issues
Topic: Raising kids in a small town vs. big city/suburbs
Replies: 89
Views: 5844

Re: A $1000 lesson on how manipulative salespeople can be?

Donate the art and take a tax deduction. If the art is worth $5000, you'll get your $1000 back in a tax write off.
by mathwhiz
Sun Feb 09, 2014 1:56 pm
 
Forum: Personal Consumer Issues
Topic: A $1000 lesson on how manipulative salespeople can be?
Replies: 107
Views: 17224

Re: Job search advice

Are you currently employed? It's always much easier to find a job when you have a job. Rightly or wrongly, there is the impression in many corporate HR departments and among hiring managers that a long "gap" in work history means you are "damaged goods." There is very real hiring...
by mathwhiz
Sun Feb 02, 2014 3:28 am
 
Forum: Personal Consumer Issues
Topic: Job search advice
Replies: 5
Views: 647

Re: Roth TSP reduces tax refund

Is TurboTax simply doing a comparison for you versus what would happen if invested with the regular TSP vs. the ROTH TSP. Obviously, your refund is reduced by contributing the the ROTH TSP because you are using after-tax income.
by mathwhiz
Sat Feb 01, 2014 4:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth TSP reduces tax refund
Replies: 21
Views: 1540

Re: Low Income Budget

Why does everyone here think this is a low Income (Including the OP..)? If i'm calculating this correct they are making around 45+K/Year which is just a bit under the US median income. Based on a very low COL location (And statement that she is in the top income bracket in that location) that doesn...
by mathwhiz
Thu Jan 30, 2014 10:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Low Income Budget
Replies: 70
Views: 4867

Re: Building a Home on vacant land

Thanks I'll make sure they ask a lot of questions on the logistics of power, well, septic, flood zones.
by mathwhiz
Sun Jan 26, 2014 6:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Building a Home on vacant land
Replies: 10
Views: 1033

Re: Building a Home on vacant land

No city water or sewer is available. They'll have to do a well and septic. We live in Florida. Land is relatively flat and we are under an aquifer so I don't foresee major problems but I'm no expert. They haven't bought the land yet. They are looking at wooded 5-10 acre tracts. Power poles are at th...
by mathwhiz
Sun Jan 26, 2014 6:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Building a Home on vacant land
Replies: 10
Views: 1033

Building a Home on vacant land

We have family looking at building a house to live closer to us. We live in an exurb/borderline rural area where the housing stock is old and would not meet their requirements. Options we are looking at: 1) manufactured home/trailer. cheapest option by far but poor resale/safety concerns??? 2) build...
by mathwhiz
Sun Jan 26, 2014 5:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Building a Home on vacant land
Replies: 10
Views: 1033

Re: Adult "child" moved back home - avoiding failure to laun

Isn't the obvious answer to have her find a rich boyfriend/husband who will take care of her? Try as we might, some people just can't function independently in our society.
by mathwhiz
Fri Jan 17, 2014 1:58 pm
 
Forum: Personal Consumer Issues
Topic: Adult "child" moved back home - avoiding failure to launch
Replies: 196
Views: 12910

Re: Sacrificing career for family

You are a big part of your family. If you're not happy, how is that in the best interest of your family? It's kind of a moot point. My wife likes her job, her family, and her house. Happy wife = Happy life? Maybe, maybe not. But an unhappy wife would certainly give me much more serious problems tha...
by mathwhiz
Tue Jan 14, 2014 11:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sacrificing career for family
Replies: 40
Views: 4534

Sacrificing career for family

I'm in a situation where I've hit a plateau in my career. Basically, I've moved up as high as I can go in my current organization. My job is boring and stale but there are no other opportunities where I live that I'm qualified for that pay as well. All the career opportunities for leadership and adv...
by mathwhiz
Tue Jan 14, 2014 9:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sacrificing career for family
Replies: 40
Views: 4534

Re: 1st Time Investor--Fidelity or Vanguard?

I've been a Fidelity customer for about ten years. By and large, I like them especially their 2% amex cash back card and seamless online billing. They also have a number of very good spartan low cost index funds, as well as 60+ ishares ETF's that are commission free. Their brokerage is hands down be...
by mathwhiz
Fri Jan 10, 2014 4:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: 1st Time Investor--Fidelity or Vanguard?
Replies: 60
Views: 5842

Re: Is it time for me to find a new job?

DOD is a huge organization. Go to usajobs.gov. Go to DOD contractors. Start applying and interviewing for jobs. It never hurts to test the market and see what you are worth. Stop complaining about things and start doing something about it.
by mathwhiz
Wed Jan 01, 2014 3:44 am
 
Forum: Personal Finance (Not Investing)
Topic: Is it time for me to find a new job?
Replies: 33
Views: 3891

Re: What is your winter thermostat setting (while you are up

I live in Florida. Summer is mid 90's with 100% humidity. So yeah 50's and 60's in july with 20mph winds is cold. It's all about what you are used to I guess.
by mathwhiz
Tue Dec 31, 2013 10:14 pm
 
Forum: Personal Consumer Issues
Topic: What is your winter thermostat setting (while you are up)?
Replies: 116
Views: 8677

Re: What is your winter thermostat setting (while you are up

You people living in places requiring climate control amuse me.

And the people bragging about using AC -- stop, you're making my sides hurt ..


You never use the heat in San Francisco? I've only been there a couple times but I was shivering both of them and this was in the summer.
by mathwhiz
Tue Dec 31, 2013 8:31 pm
 
Forum: Personal Consumer Issues
Topic: What is your winter thermostat setting (while you are up)?
Replies: 116
Views: 8677

Re: Retiring in a "no state income tax state"?

You really have to do your research about Florida. There are parts of Florida that are reasonable for a retiree and offer a great quality of life. North Central Florida near Ocala and the Villages is one example. But beware of coastal counties in South Florida. Congested, very expensive real estate ...
by mathwhiz
Wed Dec 25, 2013 9:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retiring in a "no state income tax state"?
Replies: 101
Views: 11951

Re: Bryn Mawr [College]

My daughter thought about applying there. We went on a campus visit, after which she decided Bryn Mawr was just not her kind of people. Probably a good decision. She made a side trip to Penn, and did like that school, but eventually went elsewhere. I recommend a visit. Definitely visit and think lo...
by mathwhiz
Wed Dec 18, 2013 11:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bryn Mawr [College]
Replies: 68
Views: 4644

Re: Dying mothers last wish. (Ethical question)?

Appearances can be deceiving. Have you opened their books? How much debt do they have? Did they have good insurance? Millionaires can go bankrupt too if your expenses are greater than income......
by mathwhiz
Mon Dec 16, 2013 3:39 pm
 
Forum: Personal Consumer Issues
Topic: Dying mothers last wish. (Ethical question)?
Replies: 22
Views: 3076

Re: Where do you draw the line on travelling, aging parents?

What about a cruise? Something very structured. They only go on excursions with the cruise ship in their groups. The only challenges are airport and transportation on and off the ship and that can be arranged with the cruise ship. They have special cabins for guests with special needs.
by mathwhiz
Sun Dec 01, 2013 4:32 pm
 
Forum: Personal Consumer Issues
Topic: .....
Replies: 44
Views: 3062

Re: Very Early Retirement: SWR, Annuities & Questions..

Divorce would be a bigger wrecking ball.

Yes. For some reason, this seems to be a blind spot for many bogleheads. It probably dwarfs all your other risks.


Yes, kind of makes all the best plans irrelevant when 50% of your assets may be at risk based on the whims of one partner.
by mathwhiz
Sun Nov 24, 2013 4:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: Very Early Retirement: SWR, Annuities & Questions..
Replies: 72
Views: 3794

Re: Very Early Retirement: SWR, Annuities & Questions..

Fair point. Have 1 kid currently (9 mo) and have loved working part time from home in the past 9 months. Hopefully wife & I will have 2 or 3 more. Frankly taking care of kids & the wife -- along with working *part* time on projects I 'enjoy' -- is more fulfilling than a 40 hour work week ev...
by mathwhiz
Sat Nov 23, 2013 10:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Very Early Retirement: SWR, Annuities & Questions..
Replies: 72
Views: 3794

Re: Very Early Retirement: SWR, Annuities & Questions..

I see nothing wrong with a 60/40 portfolio and living off of dividends. Let's say you have $5 million at age 30. I don't know what "your" number is but I wouldn't even consider retiring at 30 on anything less but that's just me. You have to think about 55 years of inflation at some point. ...
by mathwhiz
Sat Nov 23, 2013 1:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Very Early Retirement: SWR, Annuities & Questions..
Replies: 72
Views: 3794

Re: A Modest Proposal [adding off-topic board]

So the question is, is a broader forum discussion worth the risk? There is definitely risk to it. How could the risk be managed :?: :?: Of course, there is also a risk that people will just get bored and leave the community. It's not rocket science. 3 index funds. They learn. They get on with their...
by mathwhiz
Sun Nov 17, 2013 9:02 pm
 
Forum: Forum Issues and Administration
Topic: A Modest Proposal [adding off-topic board]
Replies: 76
Views: 5192

Re: A Modest Proposal [adding off-topic board]

I also find myself thinking the forum is at times a little too strictly moderated. For example, a thread where you say.....my sister/friend/uncle and relate it personally to you is OK, but asking hypothetical questions is not OK and gets a locked thread? Seems kind of arbitrary and silly since peopl...
by mathwhiz
Sun Nov 17, 2013 4:13 pm
 
Forum: Forum Issues and Administration
Topic: A Modest Proposal [adding off-topic board]
Replies: 76
Views: 5192

Re: ACA estimating income with dividends

I've stayed clear of the new exchange, bit for me it's pretty tempting to go without healthcare. 700/mo just to cover well visits and something catastrophic is tough to justify. As for the negotiated rates, I doubt the savings really add up. And when we had a 5k ER visit and no coverage under the p...
by mathwhiz
Sun Nov 17, 2013 3:10 am
 
Forum: Personal Finance (Not Investing)
Topic: ACA estimating income with dividends
Replies: 26
Views: 1503
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