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Re: [live off dividends?] How the rich stay/get richer??

As an early retiree the last 6 years, I have been living off dividends. Most of my bond fund dividends are used to pay my bills but excess bond fund dividends get reinvested. My stock fund dividends get reinvested as do any cap gain distributions from all my funds. I also have unrealized cap gains t...
by scrabbler1
Wed Aug 20, 2014 9:19 am
 
Forum: Investing - Theory, News & General
Topic: [live off dividends?] How the rich stay/get richer??
Replies: 62
Views: 4746

Re: Reducing time spent paying bills

I use several methods to pay my bills, depending on what method(s) the biller allows, the amount of the bill, how frequently I get billed, and how much faith I have in the biller to process the payment correctly. For the common, low-amount bills such as electric, cable TV, and phone, I let the bille...
by scrabbler1
Wed Aug 20, 2014 8:27 am
 
Forum: Personal Consumer Issues
Topic: Reducing time spent paying bills
Replies: 25
Views: 1634

Re: What was Underestimated\Overestimated in Retirement

I retired 6 years ago at age 45. The only expense which has jumped around a lot has been health insurance premiums. But thanks to the ACA I now have a decent policy again at an affordable price. Income taxes have spiked only when I had an income spike (from a large short-term cap gains distribution ...
by scrabbler1
Sun Aug 17, 2014 9:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: What was Underestimated\Overestimated in Retirement
Replies: 48
Views: 4547

Re: Windows 7 PC?

Download classic shell start button, its a small program that returns normal desktop functionality to Windows 8. I installed this on my friend's PC which has Windows 8. He bought his current PC back in late 2012, opting for the newer Win 8 over Win 7 (which I have on my PC I bought in early 2012). ...
by scrabbler1
Sat Aug 16, 2014 8:32 am
 
Forum: Personal Consumer Issues
Topic: Windows 7 PC?
Replies: 49
Views: 2296

Re: Why is Bank of America so hated?

I have been a BofA customer since they took over from Fleet about 9 or 10 years ago. While they have chipped away at some things I used to get for free such as canceled check images in my monthly statement, they got me started with their easy online banking a few years ago and I got a cash-back CC f...
by scrabbler1
Wed Aug 13, 2014 2:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Why is Bank of America so hated?
Replies: 43
Views: 2368

Re: Dealership wants to buyback my car

I have been receiving these "great offer" letters from my Toyota dealer for several years trying to buy back my 2007 Corolla. They go into the trash (along with most of the mail I get).
by scrabbler1
Mon Aug 11, 2014 5:52 pm
 
Forum: Personal Consumer Issues
Topic: Dealership wants to buyback my car
Replies: 32
Views: 3370

Re: Emergency Fund - What to do?

I have my second tier EF in an intermediate-term muni bond fund. I keep only about a $750 surplus or cushion (over the minimum balance needed to avoid monthly fees) in my first-tier EF, my local bank's checking account. I don't like having a lot of money in an account earning nearly zilch so I like ...
by scrabbler1
Mon Aug 11, 2014 3:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Emergency Fund - What to do?
Replies: 8
Views: 955

Re: Who or what inspired you and your investing approach?

When I was a kid in the 1960s and 1970s, and an adult in the 1980s and 1990s, I had a few people who got me started in the direction of saving and investing. My uncle bought me one share of Ford Motor Company so every 3 months I got a small dividend check in the mail. I would also look up in the Sun...
by scrabbler1
Thu Aug 07, 2014 8:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Who or what inspired you and your investing approach?
Replies: 93
Views: 4274

Re: Attitudes toward inheritances.

I am FI and my brother, while not FI, is well off. Once in a while, my dad jokes to us that "there goes more of your inheritance" when he has to spend some money on some costly dental work. We just laugh along with him. What's FI? FI=Financially Independent, sometimes part of the FIRE acr...
by scrabbler1
Wed Aug 06, 2014 8:38 am
 
Forum: Personal Consumer Issues
Topic: Attitudes toward inheritances.
Replies: 110
Views: 9277

Re: Attitudes toward inheritances.

I am FI and my brother, while not FI, is well off.

Once in a while, my dad jokes to us that "there goes more of your inheritance" when he has to spend some money on some costly dental work. We just laugh along with him.
by scrabbler1
Tue Aug 05, 2014 11:54 pm
 
Forum: Personal Consumer Issues
Topic: Attitudes toward inheritances.
Replies: 110
Views: 9277

Re: average American eats out 203 times per year

As an early retiree I rarely eat out any more. I cook most of my meals and my ladyfriend also cooks for us. That leaves us going out to eat a few times a year. I go out to eat with my dad (my mom is deceased) a few times a year/ About once a month I go to a local pizza joint for a few slices for lun...
by scrabbler1
Tue Aug 05, 2014 11:44 pm
 
Forum: Personal Consumer Issues
Topic: average American eats out 203 times per year
Replies: 105
Views: 6370

Re: Riding the Rails--my Amtrak trip

At the moment, I'm on the Amtrak Lake Shore Ltd., having just left Erie, PA on our way to Chicago. The train is now 5 hours late, and we're stuck behind a stalled freight train. (A conductor just sat down next to me and asked if I'd like to take his job, please!) But what else is new? I'll get ther...
by scrabbler1
Tue Aug 05, 2014 9:47 am
 
Forum: Personal Consumer Issues
Topic: Riding the Rails--my Amtrak trip
Replies: 78
Views: 9027

Re: High School Reunions--Have you attended?

Let me add that although I did not like high school and despised nearly all of my classmates, I did like many of my teachers and other staff members. In the first 20 years after I finished HS, I went back to visit the school from time to time to see the dwindling number of teachers and staff who wer...
by scrabbler1
Sun Aug 03, 2014 9:23 pm
 
Forum: Personal Consumer Issues
Topic: High School Reunions--Have you attended?
Replies: 79
Views: 5054

Re: High School Reunions--Have you attended?

As one who was the teacner's pet and got picked on most of the time I was in HS, I had no real interest in seeing those people again. I had one good friend from HS and we stayed in touch for a while before fading out of touch. Another friend in HS I nearly reconnected with a few years later because ...
by scrabbler1
Sun Aug 03, 2014 6:01 pm
 
Forum: Personal Consumer Issues
Topic: High School Reunions--Have you attended?
Replies: 79
Views: 5054

Re: How Much Did You Lose Today?

I lost 2% in my equity funds but pretty much broke even on the bond funds which are a little more than 50% of my holdings. Hence, I answered 1%-2%.
by scrabbler1
Thu Jul 31, 2014 10:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: How Much Did You Lose Today?
Replies: 166
Views: 14107

Re: state income tax withheld from IRA distribution?

With my friend's Fidelity (Inherited) IRA, we use the RMD to keep him in one of those safe harbors because he has a lot of investment income with no federal or state income taxes withheld. By having state income taxes withheld, we not only solve his safe harbor issue on the state side but we can al...
by scrabbler1
Thu Jul 31, 2014 3:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: state income tax withheld from IRA distribution?
Replies: 44
Views: 1883

Re: state income tax withheld from IRA distribution?

As we have discussed in other threads over the years, withholding is the best way to remain in that "safe harbor" to avoid penalties for underwithholding. With my friend's Fidelity (Inherited) IRA, we use the RMD to keep him in one of those safe harbors because he has a lot of investment i...
by scrabbler1
Thu Jul 31, 2014 1:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: state income tax withheld from IRA distribution?
Replies: 44
Views: 1883

Re: How old are you?

So based on this admittedly unscientific poll, this forum is about half Millennials/Gen X, 40% Boomers, and 10% Silent Generation, but it depends on if you consider people born from 1959-63 (age 51-55 now) to be Boomers. Ignoring "official definitions" of generations, is the lead singer o...
by scrabbler1
Thu Jul 31, 2014 1:40 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: How old are you?
Replies: 77
Views: 6478

Re: state income tax withheld from IRA distribution?

My friend has an inherited IRA with Fidelity and can choose how much, if any, he wants to have withhheld in state (NY) and federal income taxes from his RMD. And what would Vanguard do? Which rule would apply to your friend? Does Vanguard have a different rule from Fidelity for residents of NY? Sor...
by scrabbler1
Wed Jul 30, 2014 12:26 am
 
Forum: Personal Finance (Not Investing)
Topic: state income tax withheld from IRA distribution?
Replies: 44
Views: 1883

Re: state income tax withheld from IRA distribution?

My friend has an inherited IRA with Fidelity and can choose how much, if any, he wants to have withhheld in state (NY) and federal income taxes from his RMD.
by scrabbler1
Tue Jul 29, 2014 11:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: state income tax withheld from IRA distribution?
Replies: 44
Views: 1883

Re: Where to keep "emergency fund" and how much to keep in b

My monthly expenses are about $1,800 per month. I keep about $750 extra in my local bank's checking account (beyond the minimum balance requirements to avoid fees) as a first-tier emergency fund to cover me for smaller, unforeseen expenses. If I have to write a personal check or get some quick cash,...
by scrabbler1
Tue Jul 29, 2014 8:59 am
 
Forum: Investing - Help with Personal Investments
Topic: Where to keep "emergency fund" and how much to keep in bank?
Replies: 19
Views: 2759

Re: Where to place 2nd tier emergency fund

For many years I have been using an intermediate-term muni bond fund as my second tier EF. It is tax-free at the federal level (except for the rare cap gain distribution and if I make a redemption at a profit) and mostly taxable at the state level. But it earns 2-2.5% (annualized) dividends every mo...
by scrabbler1
Mon Jul 28, 2014 1:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Where to place 2nd tier emergency fund
Replies: 16
Views: 1571

Re: Riding the Rails--my Amtrak trip

My ladyfriend, who paid for our Amtrak round-trip to Indy a few weeks ago, received an email with a link to an Amtrak online survey. Because she had used my email address when she booked her ticket on line (my printer is more reliable than hers), the survey email came to me. I asked her if she wante...
by scrabbler1
Sat Jul 26, 2014 1:32 pm
 
Forum: Personal Consumer Issues
Topic: Riding the Rails--my Amtrak trip
Replies: 78
Views: 9027

Re: Reaching Severe Burnout - Can I Scale Back Career?

Twice I asked for and was able to reduce the number of weekly hours worked. The first time was back in early 2001 when I had become burnt out mainly from the commute. My company had just relocated from lower Manhattan to Jersey City, New Jersey, making an already barely tolerable commute into an int...
by scrabbler1
Sat Jul 26, 2014 1:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Reaching Severe Burnout - Can I Scale Back Career?
Replies: 50
Views: 6016

Re: Do you have State Farm Emergency Road Service?

I haven't used mine, but my ladyfriend used hers a few times in 2011-2010 before her car finally died. Our mechanic would have her car towed from where it had broken down to his repair shop (close by) then work on it. She would make a copy of the work order which included the towing charge shown sep...
by scrabbler1
Fri Jul 25, 2014 1:52 pm
 
Forum: Personal Consumer Issues
Topic: Do you have State Farm Emergency Road Service?
Replies: 4
Views: 468

Re: Riding the Rails--my Amtrak trip

My ladyfriend and I just got back to NY on the Cardinal just over a week ago. We went from NYC to Indy then used other means of transit to get to her home town of Louisville. We left on Friday morning, June 27th and made it to Indy only about 15 minutes late, just after 5 AM. We then rented a car an...
by scrabbler1
Wed Jul 23, 2014 8:48 pm
 
Forum: Personal Consumer Issues
Topic: Riding the Rails--my Amtrak trip
Replies: 78
Views: 9027

Re: how often do you look at your account

Once a day, M-F. I log my account balances once a month into a spreadsheet. If I make a transaction in my brokerage account or IRA, I will take a second peek to update my fund spreadsheets.
by scrabbler1
Mon Jul 21, 2014 2:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: how often do you look at your account
Replies: 70
Views: 3654

Re: Hw many credit cards to own?

I own 2. One is my primary card, a cashback card I opened only a year ago, and a back-up card which used to be my primary card. I dont use the CC often so this is just fine with me. I have no debts and haven't applied for any loans in more than 20 years.
by scrabbler1
Mon Jul 21, 2014 2:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Hw many credit cards to own?
Replies: 108
Views: 6710

Re: If you own a car, do you have a car payment?

Tycoon wrote:Three cars no payments.


Same here. I bought my first car in 1986 just before my 23rd birthday, paid with cash. I traded it it toward my second car (used) in 1992, paid with cash. And I traded that car in 2007 for a new one, also with cash.
by scrabbler1
Sat Jul 19, 2014 10:52 am
 
Forum: Personal Consumer Issues
Topic: If you own a car, do you have a car payment?
Replies: 112
Views: 7377

Re: Directing asset allocation for early retirement

Jjunk, I am 51 and retired nearly 6 years ago. I have different AAs for my taxable portfolio (the one I living off now) and my tax-deferred portfolio (my IRA) which I won't be touching until I turn ~59. I am about 63/37 in favor of bonds in the taxable account because I have set up a monthly dividen...
by scrabbler1
Thu Jul 17, 2014 12:33 am
 
Forum: Investing - Help with Personal Investments
Topic: Directing asset allocation for early retirement
Replies: 13
Views: 1643

Re: Have you quit your job because of your boss?

Generalizing a bit, this is one of the disadvantages of pensions versus 401k's. The pension has made you a prisoner of this employer until it is fully vested. A 401k is your money and you take it with you when you leave, regardless of when you leave. On the other hand the pension payout might be mo...
by scrabbler1
Tue Jul 15, 2014 9:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Have you quit your job because of your boss?
Replies: 66
Views: 7366

Re: Have you quit your job because of your boss?

No. I had good bosses most of the time. Some were a lot better than good, some not quite a sgood. I held the same job from ollege for 23 years until I (early) retired in 2008. My problems were with corporate policy and the decisions by the bigwigs.
by scrabbler1
Mon Jul 14, 2014 7:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Have you quit your job because of your boss?
Replies: 66
Views: 7366

Re: What after-tax income could you live on today?

Single. Mortgage paid off. I could get by on $20k-$25k after taxes. I've kept my expenses low while working. Now that I am retired I know I can live on that amount, but I don't have to. I'm already have meals out more often. This is me, too. Single, 51, no kids, no debts, retired. The only uncertai...
by scrabbler1
Sat Jul 12, 2014 9:35 am
 
Forum: Personal Finance (Not Investing)
Topic: What after-tax income could you live on today?
Replies: 48
Views: 5133

Re: Why do companies put up with high expense 401k choices?

I have seen a mixed bag of fund choices with varying expense ratios in retirement savings plans. At the end of my working days in the last decade, my former employer switched 401k administrators a few times. When they switched to Principal Financial Group around 2004, we could no longer keep our mon...
by scrabbler1
Thu Jul 10, 2014 11:50 am
 
Forum: Investing - Help with Personal Investments
Topic: Why do companies put up with high expense 401k choices?
Replies: 15
Views: 1539

Re: List of Worst financial advice (what not to do):

Oh one more, I received a call from a Financial Planner who wanted to meet with me. I figured, if I could learn just one thing , it would be worth my time. He was about 25 years old. I was 47. We discussed my Funds at Vanguard. He then commented "you have quite abit of money in Index Funds&quo...
by scrabbler1
Wed Jul 09, 2014 9:03 am
 
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 16236

Re: List of Worst financial advice (what not to do):

Two pieces of advice my friend received in the last few years, and thankfully (and with my strong prodding) he did not take: (1) Back in 2010 and into early 2011, his broker/friend told him, as he had often had, to "Get out of bond funds because interest rates are going to rise and their value ...
by scrabbler1
Wed Jul 09, 2014 8:49 am
 
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 16236

Re: How to w/d from taxable until SS/RMD time gets here?

This bond fund's dividends slightly exceed my expenses on an annual basis so any surplus is plowed back into the bond fund. Furthermore, any cap gain distributions, which are erratic, are automatically reinvested so I add to my total share count and my monthly dividends that way... My AA in the tax...
by scrabbler1
Tue Jul 08, 2014 11:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: How to w/d from taxable until SS/RMD time gets here?
Replies: 29
Views: 2113

Re: How many veteran investor have LARGE MAJORITY in three-f

My IRA has 2 funds. My taxable accounts have 4 funds but 2 of them, with 2 different institutions, are somewhat similar (both muni bond funds but of different terms and one is national while the other is home-state), so you could say I have only "3" funds there.
by scrabbler1
Tue Jul 08, 2014 11:36 pm
 
Forum: Investing - Theory, News & General
Topic: How many veteran investor have LARGE MAJORITY in three-fund?
Replies: 56
Views: 3923

Re: How to w/d from taxable until SS/RMD time gets here?

Bolderboy, I have been an early retiree (age 51) for 5 1/2 years and use the monthly dividends from a bond fund to pay for my expenses. Most of the rebalancing I do is in my IRA although I have made a rare rebalancing move in my taxable accounts which are more bond-weighted than the IRA (which is n...
by scrabbler1
Tue Jul 08, 2014 8:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: How to w/d from taxable until SS/RMD time gets here?
Replies: 29
Views: 2113

Re: List of Worst financial advice (what not to do):

Don't buy a time share. It's a money pit.
by scrabbler1
Tue Jul 08, 2014 7:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 16236

Re: How to w/d from taxable until SS/RMD time gets here?

Bolderboy, I have been an early retiree (age 51) for 5 1/2 years and use the monthly dividends from a bond fund to pay for my expenses. Most of the rebalancing I do is in my IRA although I have made a rare rebalancing move in my taxable accounts which are more bond-weighted than the IRA (which is no...
by scrabbler1
Tue Jul 08, 2014 7:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: How to w/d from taxable until SS/RMD time gets here?
Replies: 29
Views: 2113

Re: POLL: How Old is Your Newest Motor Vehicle?

2007 Corolla, about 24,000 miles on it. I expect to get at least 10 more years from it.
by scrabbler1
Tue Jul 08, 2014 7:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: POLL: How Old is Your Newest Motor Vehicle?
Replies: 37
Views: 2444

Re: Rick Ferri's Emergency Fund

Add me to the many Bogleheads who use a tiered approach to their portfolio, including how their emergency funds are set up. My first tier is a small amount of money (about $750) over the minimum amount needed in my local bank's checking account to avoid monthly fees. This covers me for small, unfore...
by scrabbler1
Mon Jul 07, 2014 9:56 am
 
Forum: Investing - Theory, News & General
Topic: Rick Ferri's Emergency Fund
Replies: 28
Views: 6398

Re: In retirement you expect you standard of living to?

Standard of living, the same. Quality of life, much higher. Good observation distinguishing between living standard and quality of life. It's a lot difference relaxing with a cup of coffee in front of the TV at home than guzzling them down to keep going at the office. +1 I have been an early retire...
by scrabbler1
Thu Jul 03, 2014 11:18 am
 
Forum: Personal Finance (Not Investing)
Topic: In retirement you expect your standard of living to?
Replies: 55
Views: 4567

Re: How are you doing through the first half of 2014?

I am up about 3.7% but that is despite a 40/60 AA and pulling money out of the portfolio via monthly dividends because I am an early retiree.
by scrabbler1
Wed Jul 02, 2014 9:00 pm
 
Forum: Investing - Theory, News & General
Topic: How are you doing through the first half of 2014?
Replies: 91
Views: 9464

Re: The Millionaire Next Door: Are You One?

I live relatively modestly compared to what I can afford, but I think my friends and former-coworkers have a pretty good idea of my financial situation. I retired seven years ago in my early fifties. That's a big clue. I still have the group card many of my coworkers signed when I retired in late 2...
by scrabbler1
Wed Jul 02, 2014 8:42 am
 
Forum: Personal Consumer Issues
Topic: The Millionaire Next Door: Are You One?
Replies: 187
Views: 22701

Re: Rolling over a 401(k) questioin

MN-investor, I had a 401k with many different parts just like yours and did a partial rollover in order to minimize the tax bite while trying to mazimize my non-rollover portion. This is what I did back in late 2008: The 401k had pretax contributions, after-tax contributions, earnings, and company s...
by scrabbler1
Wed Jul 02, 2014 8:30 am
 
Forum: Personal Finance (Not Investing)
Topic: Rolling over a 401(k) question
Replies: 8
Views: 827

Re: what is my tax bracket after retirement

+1 to depending on the types of income streams. In my 5.5 years of early retirement, I have 2 main streams of income. One is bond fund income I get every month to cover my expenses. That is taxed as ordinary income. But I also have some stock fund dividend income which is taxed at 0% (federal) so I ...
by scrabbler1
Tue Jul 01, 2014 9:02 am
 
Forum: Personal Finance (Not Investing)
Topic: what is my tax bracket after retirement
Replies: 11
Views: 1561

Re: The Millionaire Next Door: Are You One?

I hit the $1M mark in investments a few years ago after getting close to it in 2007 before the markets crashed. I live in a studio apartment in a large co-op complex and have been here for 25 years. It is mostly an older crowd with many elderly retirees. Some of my neighbors know that I am an early ...
by scrabbler1
Tue Jul 01, 2014 8:44 am
 
Forum: Personal Consumer Issues
Topic: The Millionaire Next Door: Are You One?
Replies: 187
Views: 22701

Re: Do I need to prepay my capital gains to the IRS?

For those who like to live dangerously, you can even leave large federal tax bills pending until April 15th once you've paid up enough to reach the safe harbor. For others reading along, note that this is 100% of the previous year's tax for the OP, but is 110% of the previous year's tax for anyone ...
by scrabbler1
Tue Jun 24, 2014 11:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do I need to prepay my capital gains to the IRS?
Replies: 33
Views: 1879
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