Search found 218 matches

by jwa
Tue Feb 23, 2021 1:31 pm
Forum: Personal Consumer Issues
Topic: Does a cheap road bike really exist?
Replies: 244
Views: 24750

Re: Does a cheap road bike really exist?

Yes, cheap road bikes exist. But they're junk. They're heavy, shift and brake poorly, and have wheel sets that won't last. They're not a lot of fun to ride. You get what you pay for. Even at a $1000 budget you'd have a hard time finding a nice new road bike with a quality frame, wheel set, and components. The "sweet spot" for quality vs price on a new road bike is somewhere between $2-3k. It's not an expensive hobby/sport compared to others like golf/tennis but there is a significant initial outlay. Also, with COVID, there are no new bikes in stock. Many brands haven't had any new road bikes for six plus months. I ride a 1980s Bridgestone I picked up for $100 years ago. I do my own maintenance-cables, bearings and grease are chea...
by jwa
Sat Dec 19, 2020 1:02 pm
Forum: Personal Consumer Issues
Topic: Where to Retire?
Replies: 262
Views: 29401

Re: Where to Retire?

KineticSync wrote: Fri Dec 11, 2020 11:52 am We're planning on moving to Arkansas from Texas when we retire. I ran some numbers on the tax situation and Arkansas looks reasonable despite the state income tax since they don't tax SS and $6K/person of retirement income, plus property taxes are much more sane than Texas (I'm about to write the checks for mine now, $7K, and it's painful). Second choice would be Tennessee. I'm more concerned about net access and liquor taxes than I am about the state income tax.
Moved to NW Arkansas from Illinois 4 years ago. I love it here.
by jwa
Tue Dec 08, 2020 2:42 pm
Forum: Investing - Theory, News & General
Topic: Vanguard explains why they expect international outperformance
Replies: 122
Views: 12776

Re: Vanguard explains why they expect international outperformance

I admit I don't know whether the US will continue to outperform going forward. I hold both in considerable amounts (60 US/40 INTL at present). I do not argue vigorously against those who choose 100% US. They have done very well over the last decade while my long suffering INTL exposure underperformed. No sour grapes for me, they were right over the past decade. They didn't listen to the numerous experts who have been predicting INTL outperformance for a long time. At the start of the decade I was 50/50 but I have chosen not to rebalance to that figure which is why I'm 60/40 now. Selling winners to buy losers on a regular systematic basis is hard for me. The US clearly has benefited from its significant advantages (world reserve currency, m...
by jwa
Fri Dec 04, 2020 1:00 pm
Forum: Personal Consumer Issues
Topic: Catrike 700/ICE VTX
Replies: 2
Views: 333

Catrike 700/ICE VTX

Anyone have one or the other and if so, how do you like it?
by jwa
Fri Dec 04, 2020 12:19 pm
Forum: Personal Investments
Topic: Outside thoughts!!!
Replies: 23
Views: 3395

Re: Outside thoughts!!!

Your portfolio is way too complicated for me. Read the thread on the three fund portfolio. It’s what I do but not saying it is for you though I suspect you can’t do any better from a performance standpoint and comes with a less thought and worry.
by jwa
Mon May 18, 2020 9:55 am
Forum: Personal Consumer Issues
Topic: Help: Update: Advice Getting Hearing Aids? What? What?
Replies: 44
Views: 2806

Re: Help: Any Problems or Pitfalls or Advice When it Comes to Getting Hearing Aids? What? What?

I have your problem. Hearing aids from Costco BUT I don’t use them watching TV. I take them out and use Sennheiser headphones. Love em.
by jwa
Thu Apr 23, 2020 2:29 pm
Forum: Investing - Theory, News & General
Topic: Who has changed FROM the 3 Fund Portfolio?
Replies: 28
Views: 3091

Re: Who has changed FROM the 3 Fund Portfolio?

David Jay wrote: Wed Apr 22, 2020 10:03 pm For simplicity (specifically for my spouse in the event of my absence), I have moved from a 3-fund to a one-fund portfolio (Vanguard LifeStrategy Moderate).
Same thing here. Additionally I could never decide on the proper allocation because after reading various Boglehead threads I’d keep changing my allocation based upon the changing prevailing winds within those threads. I finally decided to heck with it and just let Vanguard do it.
by jwa
Thu Apr 23, 2020 2:24 pm
Forum: Investing - Theory, News & General
Topic: For those concerned about International Stocks...
Replies: 236
Views: 31892

Re: For those concerned about International Stocks...

KSActuary wrote: Tue Apr 21, 2020 5:01 pm International stocks have underperformed since 2010. Why would you invest in an underperforming sector? At least you should under-weight it.
So should one make investment decisions looking in the rear view mirror?
by jwa
Sun Mar 29, 2020 11:54 am
Forum: Personal Consumer Issues
Topic: How much umbrella insurance do I need?
Replies: 14
Views: 2110

Re: How much umbrella insurance do I need?

When you get sued, tell me how much you are getting sued for and that is the amount you need.

The answer is unknowable. Buy as much liability insurance that you can fit into your budget.
by jwa
Tue Mar 24, 2020 8:57 am
Forum: Personal Investments
Topic: Annuities
Replies: 18
Views: 1336

Re: Annuities

In addition to returns on bond investments and a return of your own money over time the 4% you mention has something else. Survivor benefits which work this way. My neighbor Joe Blow and I both buy a SPIA on the same day. Next week I drop dead but the money I sent to the annuity provider stays with them which they in turn then use to help fund Joe Blow’s annuity payments.

So annuity payments come from three sources which are investment returns, return of your own money and survivor benefits.
by jwa
Mon Mar 23, 2020 3:42 pm
Forum: Investing - Theory, News & General
Topic: "3 Charts That Show Why Investors Should Stay the Course Throughout Market Turmoil"
Replies: 31
Views: 5636

Re: "3 Charts That Show Why Investors Should Stay the Course Throughout Market Turmoil"

SandysDad wrote: Sun Mar 22, 2020 7:56 am How do I know its a cliff?

-- 90% unemployment in sit down restaurant industry
-- 90% unemployment in hotel industry
-- Huge numbers of small and medium businesses defaulting on debts
-- resulting bankruptcies
-- too much more to post here.

$2T in federal relief only puts a dent in the economic trauma.
I can’t tell but are you in the process of selling your equity position or have already done so? If you’re selling I might be helping you out as I am buying.
by jwa
Mon Mar 23, 2020 3:15 pm
Forum: Investing - Theory, News & General
Topic: Cramer on buying index funds during downturn
Replies: 56
Views: 6730

Re: Cramer on buying index funds during downturn

bogledogle wrote: Mon Mar 23, 2020 1:57 pm
WarAdmiral wrote: Mon Mar 23, 2020 11:40 am Jim Cramer should be used for entertainment purposes only..
Specifically, lookup Jon Stewart's Jim Cramer interview :)
You beat me to the punch. Stewart really made him look like a fool with data on how Cramer has done over the years.
by jwa
Sun Mar 22, 2020 8:40 pm
Forum: Personal Consumer Issues
Topic: Hearing aids
Replies: 14
Views: 1052

Re: Hearing aids

COSTCO
by jwa
Sun Mar 22, 2020 8:35 pm
Forum: Personal Investments
Topic: Guys I Rebalanced (Moved Monies Out Of S&P 500)
Replies: 301
Views: 24107

Re: Guys I Rebalanced (Moved Monies Out Of S&P 500)

Hard to believe this thread is at 5 pages.
by jwa
Thu Mar 12, 2020 10:37 am
Forum: Personal Investments
Topic: How many people with 7 figure portfolios are”rejoicing ?”
Replies: 169
Views: 17276

Re: How many people with 7 figure portfolios are”rejoicing ?”

lauberge49 wrote: Thu Mar 12, 2020 8:33 am I am 70, retired, and was at 40/60 AA at the peak. This week, I switched to 60/40, and may go 70/30 if this continues. I have to do RMD’s starting this year but IRA is all in bonds, so comfortable with that. I am in a position that, if I need to increase my allocation in stocks, I will have to own stocks in my IRA.......we also have a bit of cash on the sidelines if need be..........looking rough at the open this Thursday morning........seat belt fastened, but probably will not make another move until 2021..........luck and good health to all........
You don’t have to do RMD’s this year, if you don’t want to. The law changed first of the year and it is now age 72.
by jwa
Sun Aug 04, 2019 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security -- Take it at 62, 67 or 70
Replies: 452
Views: 57328

Re: Social Security -- Take it at 62, 67 or 70

Frankly, I think without knowing how long you will live an optimal SS question is impossible to answer. Personally, I started at 65 as I didn't want to sell down assets/liquidity/investments at that point in time. The result of that was being fully invested in Mr. Market for the last 6.5 years which made more money than the difference in age 65 to age 70 SS would ever make, but that's just luck. We are similar in age. I am pleased, for you, that it worked out so well! I have chosen to wait until 70. At age 65, I was scared to death of sequence risk. Perhaps I am a glass half empty kind of guy but I feared a 50% market decline and then a sideways moving market for 15 years or so. I chose, for me the safer path, and have a safe income for dw...
by jwa
Sat Feb 24, 2018 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Draw Down Plan - Stanford Longevity Report
Replies: 12
Views: 1721

Re: Stanford papers on retirement withdrawal strategies

Not sure I agree with you. The withdrawal percentages required do increase over time. However, those percentages are designed to decumulate that pot of money because Uncle Sam wants his tax dollars. Thus, the withdrawal percentage does increase over time but over that time span the pot of money is getting smaller.
by jwa
Wed Oct 28, 2015 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to SS regulations in new funding bill...
Replies: 154
Views: 16597

Re: Changes to SS regulations in new funding bill...

I have this book on Social Security from some guy named Mike Piper that now will be useful as a door stop. :D

Mike, I agree with the others. You have explained this all well and took the time to do it when you probably would have been working otherwise.

THANK YOU
by jwa
Wed Oct 28, 2015 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to SS regulations in new funding bill...
Replies: 154
Views: 16597

Re: Changes to SS regulations in new funding bill...

One Ping, that is not how I read it. It seems to me that this change allows anyone of FRA to use file and suspend but the window now closes in 6 months. My wife just reached full retirement this past July and I reach FRA on 12/31/15. She has some earnings but mine are much larger. Needless to say, I have given this apt attention today. Probably too much.

I could be all wet - time will tell.
by jwa
Wed Oct 28, 2015 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to SS regulations in new funding bill...
Replies: 154
Views: 16597

Re: Changes to SS regulations in new funding bill...

This just in from Bloomberg News:

An original version of the budget deal ended file and suspend in six months for everyone using the strategy. That would have abruptly cut off checks to thousands of retirees, or many more. Today the deal was amended so it affects only retirees who file for benefits in the future, and the change wouldn't go into effect for six months. That means older workers who want to use the strategy could still do so until early next year.
by jwa
Thu May 28, 2015 5:28 pm
Forum: Personal Consumer Issues
Topic: What to do in Raleigh
Replies: 18
Views: 2970

Re: What to do in Raliegh

Where are you coming from? If you're coming already from a big landlocked metro area, maybe you want to check out the beaches. From Florida, maybe check out the mountains, etc.


I am coming from central Illinois and I am landlocked but not in a metro area. No mountains here, in fact we don't even have hills; it is flatter than a pancake here.

I am not limited to staying in Raleigh. I will have a vehicle and my wife will be doing her thing so driving to Chapel Hill or elsewhere isn't a big deal.

I appreciate the suggestions!
by jwa
Thu May 28, 2015 10:51 am
Forum: Personal Consumer Issues
Topic: What to do in Raleigh
Replies: 18
Views: 2970

What to do in Raleigh

I will be in Raleigh in a couple of weeks with no idea what to see and do. My wife's hobby is growing hostas and the National Hosta Society is have their annual convention in Raleigh this year which leaves me three days to myself as hostas are her thing not mine. I would like something to do and see rather than being in the hotel for many hours each day.

In addition to looking for ways to occupy myself with in Raleigh we are going to extend our stay for several days after the convention and are looking for what to do together. I've heard that the outer banks are something to see. Is this so? Are there other things in North Carolina we should avail ourselves to?

Jerry
by jwa
Thu Apr 02, 2015 10:59 am
Forum: Personal Finance (Not Investing)
Topic: When will / did you claim Social Security benefits?
Replies: 152
Views: 21340

Re: When will / did you claim Social Security benefits?

Ron wrote:I/wife attained SS FRA last year. I did the file/suspend in January; she filed a restricted application in her birth month - May, and has been collecting 50% of my FRA benefit since that time (including the 1.7% increase for this year).

We both intend to file for our own benefits at age 70. If I die before reaching that age (less than 3 years) she will file for survivor benefits immediately since my current accrued benefit is higher than what she will get at age 70 on her own record.

- Ron
This is exactly what we will be doing come January.
by jwa
Mon Mar 23, 2015 10:57 am
Forum: Personal Investments
Topic: best income producing Vanguard fund?
Replies: 6
Views: 2221

Re: best income producing Vanguard fund?

wellesey
by jwa
Wed Mar 04, 2015 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Tom Stanley-Millionaire Next Door Author Killed in Auto Acci
Replies: 76
Views: 16904

Dr. Thomas Stanley

[Thread merged into here, see below (page 2). --admin LadyGeek] The author of the "Millionaire Next Door" was killed a couple days ago in an automobile accident. Maybe this has been posted but I did not see it if it was. His book was the most influential book of my lifetime. While it did not change what I was doing it did confirm what I was doing. When times were tough financially for a one income family raising three children on a normal size income, his writing kept me focused and I always found a way to put something back for the future. When others bought nice cars, homes, swimming pools and toys I could not afford I fell back on what Dr. Stanley wrote. So here I am in my mid-60's not having to work and by all calculators I t...
by jwa
Sun Mar 01, 2015 1:23 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Managed Payout to add new fund
Replies: 43
Views: 8869

Re: Vanguard Managed Payout to add new fund

They just threw yet another log onto the fire of why I won't be using their payout fund.
by jwa
Wed Feb 04, 2015 10:32 am
Forum: Personal Investments
Topic: Vanguard Frequent trading policy
Replies: 55
Views: 11641

Re: Vanguard Frequent trading policy

Aptenodytes wrote:I suggest that the moderators lock the thread. I now am convinced that we are being trolled. Even if we are not, there is zero evidence that further discussion will benefit anyone.
+2
by jwa
Tue Feb 03, 2015 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Do retired Bogleheads have rising net assets?
Replies: 42
Views: 7204

Re: Do retired Bogleheads have rising net assets?

How can you compare those with pensions (or SPIAs) and S.S. to those living off their nest eggs? Is everyone comparing their total assets or just their investment portfolios? I haven't seen one reponse saying their "assets" are flat or have declined. Are the members of the flat/declining group refusing to post or are all BHs very wealthy :happy ? You bring up a valid point. I retired in early 2007 (age 59) without SS nor a defined benefit (e.g. pension) plan. At that time the only income I had was a small VA disability benefit along with withdrawls from my IRA (Traditional, Roth, and Rollover IRA - from my former company's 401(k) plan). While my company did not have a traditional pension, they did have a cash balance plan http://...
by jwa
Tue Feb 03, 2015 11:53 am
Forum: Personal Investments
Topic: Vanguard Frequent trading policy
Replies: 55
Views: 11641

Re: Vanguard Frequent trading policy

I stop by frequently but post infrequently. One of the charming aspects of this forum besides learning about the world of investments is the civility posters have for each other. I for one appreciate that those who choose not to be civil are in the distinct minority. On the other hand, we all have bad days. Perhaps one can hope this is one of those days.
by jwa
Tue Jan 27, 2015 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Medigap Plan G vs Plan F?
Replies: 107
Views: 35679

Re: Medigap Plan G vs Plan F?

I just purchased a Plan G though I went shopping for a Plan F. The difference in the monthly premium was close to $34 which more than covers the Part B deductible.
by jwa
Tue Jan 27, 2015 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Anyone regret paying off mortgage early?
Replies: 2483
Views: 294084

Re: Anyone regret paying off mortgage early?

I am not a home owner, and so treat what follows accordingly. I can think of two circumstances in which one may regret paying off mortgage early: 1. A home owner is making larger payments, still has a long way to go, and does not have a sufficient emergency fund. He loses his job and needs money to live while still making mortgage payments. 2. The area is devastated by a major disaster (hurricane, tornado, nuclear accident, or something like that) and all houses are destroyed. The event is not covered by insurance and homeowners with paid off houses lose everything. Those with mortgages can probably walk away (similarly to those who are figuratively under water). Victoria I have not read all of the posts but when I got to this one I stoppe...
by jwa
Fri Jan 23, 2015 12:29 pm
Forum: Personal Investments
Topic: Parents Retirement Advice 62 y.o.
Replies: 8
Views: 1616

Re: Parents Retirement Advice 62 y.o.

Asterix0 is absolutely correct. The tables are designed to be actuarily the same regardless of what age you take your benefit based upon a normal life span. If one unfortunately dies prematurely then taking it at 62 is a good bet. Take it at 70 and live a longer life span then you have a nice inflation adjusted annuity. I call that nice old age insurance. I will take mine at 70 just in case. However, that kind of analysis is good as far as it goes. What adds intrigue to the analysis is spousal benefits which could add to the overall payout. At the least, it gives the surviving spouse a larger monthly check down the road. With my situation, I will file and suspend at the end of the year and have my wife file for a spousal benefit. Then we wi...
by jwa
Wed Jan 21, 2015 11:04 am
Forum: Personal Consumer Issues
Topic: The "Less Than" a Million $ Club
Replies: 73
Views: 15914

Re: The "Less Than" a Million $ Club

Nearing_Destination wrote:I guess I'll have to be content in the "other" club :wink:

but I certainly can appreciate the concern some posters have had about the numbers thrown around...
if we hadn't been as lucky and saved a very large percentage, I'm sure we would have been as downcast
toward our future as some have voiced. Many of us in the other club have been in the raman noodles/tuna role
in our grad school days, and times after...so there is hope if one is diligent (and somewhat lucky) to have a large
enough pile to create the cash flow needed in retirement.
I have no idea where you are finding angst here among the many posts.
by jwa
Tue Jan 20, 2015 10:14 am
Forum: Personal Consumer Issues
Topic: The "Less Than" a Million $ Club
Replies: 73
Views: 15914

Re: The "Less Than" a Million $ Club

I'll confess I'm a bit bemused by this post since most people will retire with less than a million and probably feel that they are doing well as long as they actually were able to retire comfortably ...that one can be happily retired DESPITE not having achieved 2 commas is even a thing here is pretty funny. I have to admit that it took me a long time to even realize that most peeps here were pretty wealthy because I was so focused on learning about asset allocation and how to do my best. I most certainly will retire with way less than a million but if I can live the way I do now I'll be as happy as anybody. :happy :sharebeer You just described me! Like Tennisplyr I too do not have a million in invested assets. I too am 65 but unlike Tennis...
by jwa
Mon Jan 19, 2015 10:07 am
Forum: Investing - Theory, News & General
Topic: The DOW: An Index I Love to Hate
Replies: 27
Views: 3212

Re: The DOW: An Index I Love to Hate

Unlike the OP I don't hate the Dow. I just ignore it.
by jwa
Tue Jan 13, 2015 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Poll - How much is enough / what's your number?
Replies: 86
Views: 14937

Re: Poll - How much is enough / what's your number?

Igetit, you and I are virtually in the same boat.

Sheepdog is correct in that it does matter where you live. I have experience with the Chicago area and downstate Illinois. Not every thing is more expensive in Chicago but a whole lot of things are. I would imagine my cost of living does not differ significantly from Indiana, Sheepdog.

I find Sheepdog to be an inspiration!
by jwa
Sat Jan 03, 2015 11:34 am
Forum: Personal Investments
Topic: Where does someone in their mid-20s with $5000 start?
Replies: 30
Views: 5570

Re: Where does someone in their mid-20s with $5000 start?

We're not stock pickers around here. Low cost mutual funds are our game.
by jwa
Sat Oct 04, 2014 10:27 am
Forum: Personal Finance (Not Investing)
Topic: I am surely doing something wrong (FireCalc question)
Replies: 45
Views: 6984

Re: I am surely doing something wrong (FireCalc question)

What I have seen is 25 times expenses after social security, pensions and any other source of guaranteed income. That is a big difference from 25 times your expenses. As one who is retired, I find the former works just fine.
by jwa
Fri Sep 26, 2014 1:34 pm
Forum: Personal Investments
Topic: Looking for advice- Already Retired.
Replies: 19
Views: 3040

Re: Looking for advice- Already Retired.

CORRECTION: The thread that Taylor Larimore started on the three fund portfolio is the very first thread under " Investing - Theory, News and General."
by jwa
Fri Sep 26, 2014 1:29 pm
Forum: Personal Investments
Topic: Looking for advice- Already Retired.
Replies: 19
Views: 3040

Re: Looking for advice- Already Retired.

Is there a question in here somewhere or are there many? Sorry but I am lost as to what you are looking for.

You do mention being nervous about having money in the stock market. We all are. We are all also nervous about money in the bond market. Nonetheless, we have our individual plans and we stick to them and ignore the noise. A good place to start, if you haven't already, is Taylor's thread on the three fund portfolio at the very top of this page. That thread is worth more than the cumulative value of all the finance books you could purchase.

I'm sorry if it seems like I've gone off on a tangent but as stated I am lost as to what you are looking for. I hope this helps somewhat, nonetheless, and I wish you well.
by jwa
Fri Jul 11, 2014 1:37 pm
Forum: Investing - Theory, News & General
Topic: To LMP or Not to LMP? [Liability Matching Portfolio]
Replies: 15
Views: 5914

Re: To LMP or Not to LMP? [Liability Matching Portfolio]

Thanks for the clarifications, jwa. Just to clarify a little further—a lot of what you wrote is what Dr. Bernstein recommended for the general case, but doesn’t apply to us. Our portfolio just hit its “magic number,” so if we go the LMP route, we would convert all of our equities into TIPS ladders (for the tax-sheltered accounts) and CD and perhaps short Treasury ladders (in the non-sheltered accounts) if we wanted to lock in income to cover our current level of expenses with 100% certainty. At this point, we don’t have any headroom to keep a risk portfolio on the side, although I look forward to the day that becomes possible. And since we are in our late 50s, Dr. Bernstein’s 20-25 time living expenses rule doesn’t apply to us, because as ...
by jwa
Fri Jul 11, 2014 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement calculator?
Replies: 25
Views: 6362

Re: Retirement calculator?

I have looked at and used many different retirement calculators. The best in show as far as I am concerned is the Fidelity Retirement Planner. To the previous poster that wound up with 80 million or whatever it was I have to echo what was posted as to what were the inputs entered. I am within 5 years of retirement (maybe 5 months) and the results calculated for me were reasonable.

I also like Firecalc and I also have used Cfiresim and have found it interesting.

I have not paid for any calculators but maybe ESPlanner someday but at this juncture I am more than satisfied with the Fidelity Retirement Planner.
by jwa
Fri Jul 11, 2014 9:58 am
Forum: Investing - Theory, News & General
Topic: To LMP or Not to LMP? [Liability Matching Portfolio]
Replies: 15
Views: 5914

Re: To LMP or Not to LMP? [Liability Matching Portfolio]

um... Dr Bernstein did not say convert all of your stocks to TIPS. What he has written is once you have won the game convert stocks to TIPS, short term bonds and other stable investments. Won the game was defined as 20 to 25 times your annual expenses minus social security and any pensions. Anything above that can be kept in the stock market.

The 20 to 25 times number is for someone retiring at a "normal" retirement age in their middle 60's.
by jwa
Wed Jul 02, 2014 12:15 pm
Forum: Personal Consumer Issues
Topic: Best Kayak Trailer
Replies: 7
Views: 1390

Re: Best Kayak Trailer

I will be interested to see if this thread has legs. I am 64 and lift a 50 fishing pound kayak on top of a full size passenger car and get the job done though I sometimes wish it weighed a bit less. However, I am finding myself lusting for a larger and heavier kayak that I know that I couldn't get on top of a car.

I have looked at the Yakima Rack and Roll and am interested. Unfortunately I have the impediment of a small garage and living in a community that does not allow one to park trailers of any sort anyplace outside your garage. Though the latter is also good because I know what some would do if given the chance.
by jwa
Sat Jun 28, 2014 11:31 am
Forum: Personal Finance (Not Investing)
Topic: SS Gap Until 70?
Replies: 29
Views: 3770

Re: SS Gap Until 70?

As GED said. I too wondered (actually worried) about the gap to 70 for several months thinking about it. I knew it would entail me taking out more than the so called safe 4% for a few years but with a big drop come 70. Humm... would I still jeopardize my long term financial status? I didn't think so but I knew I was doing some assuming. Also, the big question was how much could I withdraw until age 70? I found my answers with the Fidelity Retirement Planner which over several pages (that I printed and put into a 3 ring binder for future reference) details what I can do with a very high probability of success. I'm not much of an Excel spreadsheet jockey as I really don't like numbers. I like simple the best. This is why I like the 3 fund por...
by jwa
Wed Jun 11, 2014 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: Temporarily Dropping Car Insurance
Replies: 13
Views: 1859

Re: Temporarily Dropping Car Insurance

August wrote:Actually homeowner's insurance usually excludes automobiles. In the case of the car in the garage, the homeowner's insurance would probably cover the garage and contents of the garage, but not the car.
THIS. Automobiles are excluded from the homeowners policy. If one puts a car on blocks over the winter they can suspend all coverage except comprehensive and be covered for that tree that just fell.
by jwa
Wed Jun 11, 2014 5:36 pm
Forum: Personal Finance (Not Investing)
Topic: Best Homeowners Insurance in IL
Replies: 10
Views: 2051

Re: Best Homeowners Insurance in IL

I would probably stay away from Homesite. I am in the business and in Illinois and I have never heard of them which may or may not mean anything. However, I did some research on them and they have only been in business since 1998 so I would be concerned with their capitalization. There also seem to have garnered many complaints on their claims handling and customer service in general. If you would ever do business with them you would be on your own as they deal directly with consumers and don't use agents. I would guess that Geico is bringing them up and getting a first time finders fee but I would doubt from what I've read that Geico would be involved after they collect their finder's fee. I could be wrong with this but it is my educated g...
by jwa
Wed Jun 11, 2014 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: Temporarily Dropping Car Insurance
Replies: 13
Views: 1859

Re: Temporarily Dropping Car Insurance

I speak as an agent and as a former underwriter for an insurance company. If you sell your car and move to another city that will not be frowned upon. What is frowned upon is the individual that lets their coverage lapse and allows time to pass before doing anything about it. That shows bad judgement and underwriters don't like to insure people who have bad judgement. Besides, if you don't own a car, what are you going to insure? If you don't have a car you don't need insurance. After you move and buy a car just advise the agent of your situation and they will advise the insurance company and you will be good to go. If you drive someone else's car, in the meantime, their insurance covers you as long as you are given permission by the owner ...
by jwa
Sun Jun 08, 2014 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: 20x expenses question
Replies: 8
Views: 2439

Re: 20x expenses question

What I have read is 20 to 25 times your expenses beyond what is not covered by SS, pensions and other guaranteed sources of income. Intuitively this makes sense to me. If I have a large pension and nice SS checks to rely on that cover my expenses I probably don't need as much money. On the other hand, if I have no pension and a low SS payout that don't cover my expenses then I need a large portfolio.

I make my plans around 20 to 25 times excess expenses not covered by guaranteed income sources and luckily I have more than that. Thank you Jack Bogle!!!