Search found 215 matches

by 10YearPlan
Mon Apr 16, 2018 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 111
Views: 8305

Re: Can I retire at age 40?

No. I would most definitely not retire with your current numbers. I would build up some college savings in the next 3-5 years, whilst also looking to trim your expenses to see "how low you can go" if push were to come to shove once retired. It will also help you sock away a little extra in the meanw...
by 10YearPlan
Tue Apr 10, 2018 7:32 am
Forum: Personal Finance (Not Investing)
Topic: Easily digestible info/blog on finances for spouse?
Replies: 35
Views: 2342

Re: Easily digestible info/blog on finances for spouse?

All great responses, thank you. Here's what I can add: 1. I am the saver in the family and she is the spender. Together we did the online Dave Ramsey Financial Independence course about 8 years ago. She was reluctant but eventually willing to do the course and I applaud her for it. To me, a budget ...
by 10YearPlan
Tue Apr 10, 2018 7:24 am
Forum: Personal Finance (Not Investing)
Topic: Easily digestible info/blog on finances for spouse?
Replies: 35
Views: 2342

Re: Easily digestible info/blog on finances for spouse?

I agree that we need to know what your objective is and where your spouse is with regard to interest, etc. That said, there is one book I think is very well done in terms of getting spouses on the same page, financially: Smart Couples Finish Rich. It's not an investing primer, it's more about how to...
by 10YearPlan
Fri Apr 06, 2018 3:25 pm
Forum: Investing - Help with Personal Investments
Topic: Large Single Stock Position - Can't Sell - Retirement Account
Replies: 45
Views: 3043

Re: Large Single Stock Position - Can't Sell - Retirement Account

Taking out the can't/won't sell aspect of it, this feels a lot like other posters who have a set aside dollar amount or percentage of "play money". While the vast majority of their portfolio is invested according to their preferred allocation of stocks and bonds, indexed, they have a portion they ac...
by 10YearPlan
Mon Apr 02, 2018 9:32 am
Forum: Personal Finance (Not Investing)
Topic: What age is the best to give a child control of an inheritance?
Replies: 192
Views: 10600

Re: What age is the best to give a child control of an inheritance?

Definitely need to re-do our will, thanks to this conversation. For full control of a lot of money, 35-40 sounds about right. By that time, they will have established themselves in a career, possibly started a family, been able to make smaller financial mistakes on their own that they (hopefully) le...
by 10YearPlan
Mon Apr 02, 2018 8:28 am
Forum: Investing - Help with Personal Investments
Topic: Age 55, Fast Strategy to Retirement
Replies: 59
Views: 7087

Re: Age 55, Fast Strategy to Retirement

I'm having trouble following OP's posts, but if they want to fund retirement from zero in ~12 years, they need to save 60% of net income, as per Mr Money Mustache: http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/ Saving in retirement accounts like IRAs a...
by 10YearPlan
Mon Apr 02, 2018 7:47 am
Forum: Investing - Help with Personal Investments
Topic: Age 55, Fast Strategy to Retirement
Replies: 59
Views: 7087

Re: Age 55, Fast Strategy to Retirement

To be honest, I am having a hard time understanding some of what you have written. Here are my assumptions: 1. You have 40k invested today. All stocks. 2. You have the potential to net 300k or so from sale of house, which is pending. 3. Your income is 68k combined. 4. You're 55 and want to retire in...
by 10YearPlan
Sat Mar 31, 2018 6:50 am
Forum: Investing - Help with Personal Investments
Topic: Percentage to Retirement
Replies: 13
Views: 1980

Re: Percentage to Retirement

Welcome! Short answer: as much as you possibly can. Do you have a goal in mind such as a specific # or age to retire? If so, then your percentage/strategy may need to be tweaked over time to achieve that goal. I never had a goal until I was in my early 40s. By then the super-early retirement opportu...
by 10YearPlan
Sat Mar 31, 2018 6:35 am
Forum: Personal Finance (Not Investing)
Topic: When did you know your kids would go to college?
Replies: 91
Views: 4038

Re: When did you know your kids would go to college?

Such a touchy subject. In my family, for my generation and the ones above us, having a degree is exceedingly rare. My grandparents on one side didn't even go to High School! And even though I graduated from HS in the late 1980s not the 1880s, it was not a "given" for me to go, either. Despite the fa...
by 10YearPlan
Wed Mar 28, 2018 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Should we save for our son's college?
Replies: 94
Views: 7463

Re: Should we save for our son's college?

Short answer: yes, you should Longer answer: with your income your kid(s) will never qualify for any type of aid. Assuming you want your kids to get a degree, and are grooming them to do so, it would be doing them a disservice to leave them up to their own devices to pay for it, when aid is not an o...
by 10YearPlan
Wed Mar 28, 2018 7:22 pm
Forum: Investing - Help with Personal Investments
Topic: How many are using Automatic contributions?
Replies: 41
Views: 2760

Re: How many are using Automatic contributions?

I would say we're like 98% automatic everything-contributions to retirement, taxable, 529, additional mortgage payment...most of that is recurring monthly or twice a month. But when we have any "extra", we will make the occasional additional investment. For me, recurring is the way to go. Set it and...
by 10YearPlan
Wed Mar 28, 2018 1:14 pm
Forum: Local Chapters and Bogleheads Community
Topic: A lot of heavy hitters this morning
Replies: 244
Views: 16928

Re: A lot of heavy hitters this morning

OP, I feel you. I'd be lying if I didn't occasionally feel a pang of jealousy upon reading posts. But then I remember the reason I come here-to learn from others who have achieved financial independence or are on their way. If you take out windfalls, which are out of our control, then most people ac...
by 10YearPlan
Mon Mar 26, 2018 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Age: 35 General Budget and Finance Questions (6 years later)
Replies: 22
Views: 3057

Re: Age: 35 General Budget and Finance Questions (6 years later)

I would pay off the $47k student loan. If it's in your parents' name, the lender doesn't care that you've signed a personal note with them - they are on the hook in terms of their ability to qualify for a mortgage, car loan, etc., or do any other kind of long-term planning - such as RETIRING. (I as...
by 10YearPlan
Thu Mar 22, 2018 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: Losing friends/family when wealthy
Replies: 118
Views: 10177

Re: Losing friends/family when wealthy

For most of my life, family/friends used to always treat me out because they perceived me as struggling. My guess this is the issue. You allowed friends and family to treat you when you had the money? If that's the case, and somehow now they know that all this time you were just hoarding the money,...
by 10YearPlan
Tue Mar 20, 2018 4:06 pm
Forum: Personal Consumer Issues
Topic: Paging BH Gearheads: Reasonable Net Worth for Exotic
Replies: 104
Views: 6426

Re: Paging BH Gearheads: Reasonable Net Worth for Exotic

Not a car person myself, but I like the Livesoft Rule for Extravagant Purchases heuristic. It makes good sense to me as a way to measure the true impact to one's financial situation. That said, I think it is important, in my opinion, to take into consideration the optics of such extravagant purchas...
by 10YearPlan
Mon Mar 19, 2018 3:30 pm
Forum: Personal Consumer Issues
Topic: Paging BH Gearheads: Reasonable Net Worth for Exotic
Replies: 104
Views: 6426

Re: Paging BH Gearheads: Reasonable Net Worth for Exotic

Not a car person myself, but I like the Livesoft Rule for Extravagant Purchases heuristic. It makes good sense to me as a way to measure the true impact to one's financial situation. That said, I think it is important, in my opinion, to take into consideration the optics of such extravagant purchase...
by 10YearPlan
Sat Mar 17, 2018 7:07 am
Forum: Personal Finance (Not Investing)
Topic: Terminal illness with small kids
Replies: 63
Views: 10143

Re: Terminal illness with small kids

I forgot to add. Providing meals to the family during an illness can often be a tremendous relief. There are sites that can help you organize, but you will need someone closer to them geographically to really make it work, because you'd need to rally local folks like their neighbors. Mealtrain.com i...
by 10YearPlan
Sat Mar 17, 2018 7:04 am
Forum: Personal Finance (Not Investing)
Topic: Terminal illness with small kids
Replies: 63
Views: 10143

Re: Terminal illness with small kids

Sorry to hear about your cousin. Without knowing details about their financial situation, it is hard to give great advice. And you do have to consider their pride, and how that factors in. Some people don't feel comfortable taking charity, no matter how badly it's needed, so you might need to be rea...
by 10YearPlan
Tue Feb 06, 2018 6:22 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6385
Views: 1368920

Re: U.S. stocks in freefall

Newbie here. First big dip. This is when we stay the course, right? Yep! In order to do that, I plan to stop or at least dramatically reduce looking at statements (online or otherwise) as long as it continues. That's what I did in the last crash and plan to do again this time. It helps to create a ...
by 10YearPlan
Fri Jan 12, 2018 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Is it time for me to "call in rich"?
Replies: 75
Views: 12546

Re: Is it time for me to "call in rich"?

Financially speaking-yes! But I'd just do a tiny bit of soul-searching from the non-financial perspective first. Is your wife planning to retire as well at the same time? If so, have you spent large chunks of time on weekdays together other than weekends/the occasional vacation? If not, would it be ...
by 10YearPlan
Fri Jan 05, 2018 4:16 pm
Forum: Investing - Theory, News & General
Topic: So ambitious w/ money but so risk-averse
Replies: 31
Views: 3210

Re: So ambitious w/ money but so risk-adverse

OP- I've spent my entire career in HR/Recruiting. The double bachelor degree is almost always indicative of someone who does not know what they want to be and (IMO) is more often a waste of time and money than anything else. That said, going to school, such as a Master's Degree, or some sort of cert...
by 10YearPlan
Thu Jan 04, 2018 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Two vastly different career considerations...Stability vs. Income
Replies: 67
Views: 4687

Re: Two vastly different career considerations...Stability vs. Income

Single or married? Is there a wife/kids who will be asking "where is dad?" Mid 30s, you still should have some energy left to try the tougher job. Mid 40s, I'd pick option A. The people that work hard/long enough to get the $250k might be single and sleep at their desks. I'm not sure it is worth it...
by 10YearPlan
Wed Jan 03, 2018 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: What are your big-picture ‘rules of life’ —financial or otherwise?
Replies: 123
Views: 13672

Re: What are your big-picture ‘rules of life’ —financial or otherwise?

OP-I think you are being too hard on yourself. While you may not have had a plan that you've been diligently executing all these years, you sure have a lot to show for it. But I hear you on feeling rudderless and I think some goals (long term and short term) do a person good, will ultimately help yo...
by 10YearPlan
Wed Jan 03, 2018 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Embarrassment Preventing Retirement Work: A factor for you?
Replies: 133
Views: 13345

Re: Embarrassment Preventing Retirement Work: A factor for you?

I don't need the income, but wonder what it would be like to work various part-time jobs. I've thought about being a checkout clerk at Whole Foods or something similar. One thing that holds me back is that I've been quite successful in my community and I am certainly not anonymous. When I think abo...
by 10YearPlan
Mon Dec 04, 2017 9:27 am
Forum: Investing - Help with Personal Investments
Topic: Reached 4M target. Taking money off table. Advice?
Replies: 120
Views: 20579

Re: Reached 4M target. Taking money off table. Advice?

First of all, congratulations on reaching such an impressive milestone at a young age! Second, I agree with a few of the other posters that paying down/off the mortgage is a good way to take some money off the table now, while also reducing income need in retirement. I think the big thing missing fo...
by 10YearPlan
Sun Dec 03, 2017 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Housing Heuristics - Rising Income
Replies: 15
Views: 1317

Re: Housing Heuristics - Rising Income

I think many, if not most, Bogleheads would prescribe buying a house that comfortably fits the smaller income and staying put, despite the rise in income. That said, I don't know that that particular approach is realistic for everyone. If I had to give advice to someone today, I'd advise them to buy...
by 10YearPlan
Thu Nov 30, 2017 7:18 pm
Forum: Investing - Help with Personal Investments
Topic: Invest or pay off mortgage?
Replies: 77
Views: 7576

Re: Invest or pay off mortgage?

Assuming the $800k is all in tax-advantaged, I'd sock the $3k per month away in a taxable account for the first year or until you reach, say $50k. And then from there, I'd probably start putting $2k toward the mortgage and $1k toward taxable. This is sort of best of both worlds, IMO.
by 10YearPlan
Sun Nov 26, 2017 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: Let Go by MegaCorp - Lots of options
Replies: 40
Views: 3795

Re: Let Go by MegaCorp - Lots of options

I also think Option 4 (Consulting) is an appealing option. I would take some time (3-6 mos) to take a breather, spend time with family and work on your fitness goals, etc. If you're bored in 3-6 months, go look for another job. If you find a decent one, take it. If, once the 18 month window has open...
by 10YearPlan
Mon Oct 30, 2017 10:36 am
Forum: Investing - Help with Personal Investments
Topic: Early-retired 35 year old with $1 million
Replies: 198
Views: 20840

Re: Early-retired 35 year old with $1 million

Sure you could retire now with $1M but between your age and potential variables (wife/kids), I'd probably wait 2-3 years to see how that plays out and whether you decide to pursue getting married/having kids and whether the $ works for 2-3 of you. But mostly my questions/concerns come from the non-f...
by 10YearPlan
Fri Oct 20, 2017 7:24 am
Forum: Personal Finance (Not Investing)
Topic: Best way to make some dollars on a 10 day vacation?
Replies: 57
Views: 5821

Re: Best way to make some dollars on a 10 day vacation?

I agree with the others that the best way to deal with the vacation surplus is to actually take vacation, even if you stay local, and use it to unwind, decompress, maybe take care of projects of your own that have been piling up. All that said, if money is the goal, there are dozens of apps such as ...
by 10YearPlan
Tue Oct 03, 2017 12:00 pm
Forum: Investing - Help with Personal Investments
Topic: Add to 529 to Keep Funding Taxable?
Replies: 38
Views: 2337

Re: Add to 529 to Keep Funding Retirement?

You may want to re-phrase your question because I think it reads like: Should we keep saving for retirement or add to 529? And that is not really your question, right? Instead it sounds like you have a choice AFTER maxing available retirement options about whether to fund a taxable account for yours...
by 10YearPlan
Mon Oct 02, 2017 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Lost my job and looking for advice on next steps
Replies: 43
Views: 5875

Re: Lost my job and looking for advice on next steps

My job was terminated. I am trying to figure out my plan for the future and hope to get some advice from this forum. Married with son going to college for 2.5 more years. My age: 59.5, DW: 54 (working). I got a severance package to pay health insurance and base pay for next 4 months. Company offeri...
by 10YearPlan
Fri Sep 29, 2017 2:09 pm
Forum: Local Chapters and Bogleheads Community
Topic: Bogleheads you would most like to meet and why?
Replies: 134
Views: 11095

Re: Bogleheads you would most like to meet and why?

Meg77 and VictoriaF and a few other LadyBogles whose screen names I cannot recall off the top of my head. Nothing against the guys, and there are many I'd like to thank / meet, but I find women who are outspoken, can speak finance, who have their act together, etc. very inspirational. And a bit rare...
by 10YearPlan
Fri Sep 29, 2017 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: My Smartest Financial Moves
Replies: 62
Views: 6728

Re: My Smartest Financial Moves

Some of my smartest moves did not look so smart on paper. For example, I put an entire semester of college tuition on a credit card. Had I not done so, I would have taken longer to graduate (I had no money, was not eligible for grants of any sort and could only get a very small Stafford loan at the ...
by 10YearPlan
Fri Sep 29, 2017 8:30 am
Forum: Personal Finance (Not Investing)
Topic: Weird, meaningless, but fun net worth threshold!
Replies: 13
Views: 2887

Re: Weird, meaningless, but fun net worth threshold!

Congratulations. I never would have thought of that as a milestone, but I think it is a good one to note and celebrate! Anything that we can use as a yardstick to keep us motivated and on track is good, as far as I am concerned.
by 10YearPlan
Fri Sep 29, 2017 7:58 am
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 13508

Re: The Rolex and The Boglehead

I think the real question is whether Rolex-having Bogleheads count it as part of their Net Worth.
by 10YearPlan
Thu Sep 28, 2017 6:42 am
Forum: Investing - Theory, News & General
Topic: Why do you LBYM? Why do you save and invest?
Replies: 204
Views: 17047

Re: Why do you LBYM? Why do you save and invest?

I've always been an aspirer: I like nice things. I like stuff. I enjoy spending money. When people come on here and talk about not liking stuff, I simply cannot relate. So in that regard, living below my means is not what you would call a natural fit. When my "means" were a lot lower, many moons ago...
by 10YearPlan
Sun Sep 24, 2017 8:05 pm
Forum: Personal Consumer Issues
Topic: Lifestyle Creep
Replies: 142
Views: 13302

Re: Lifestyle Creep

We've had some very intentional lifestyle creep and some not as much. Intentional- Travel 2-3x a year with the kids during "peak" season (ie when school is out) Bi-weekly housecleaning service Weekly lawn service House in a nice/affluent suburb Not as Intentional- Kids sports/activities/birthday par...
by 10YearPlan
Sun Sep 24, 2017 7:59 pm
Forum: Personal Consumer Issues
Topic: Lifestyle Creep
Replies: 142
Views: 13302

Re: Lifestyle Creep

First good job: leased a BMW. Ate out for lunch and dinner regularly. Hired a regular cleaner. First big raise: Bought $1,000 suits. $500 shoes. Didn't think twice about getting gadgets/etc. Got kids: Moved from small 2BR home to 4BR home in good school district neighbourhood. Job kept paying well:...
by 10YearPlan
Fri Sep 22, 2017 8:19 am
Forum: Personal Consumer Issues
Topic: Water Service Line Insurance
Replies: 17
Views: 1527

Re: Water Service Line Insurance

I think the problem is pretty common in older homes/neighborhoods. I have firsthand experience with it on a rental property. It cost $5500 and that did not include the repair to the sidewalk. Yes, it hurt but I still choose not to buy the insurance because there is just too much fine print. I asked ...
by 10YearPlan
Tue Sep 19, 2017 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Let's talk about your FI # and family income [Financial Independence]
Replies: 183
Views: 21598

Re: Let's talk about your FI # and family income

Or not. I smile when a Boglehead assumes that being a Boglehead means having low expenses or frugality. I'm a Boglehead, but my annual expenses are not low. And I'm not frugal. I don't think that's the presumption here. It's more that you are living within your means and saving a decent amount, usu...
by 10YearPlan
Mon Sep 18, 2017 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Calling out the not so rich bogleheads
Replies: 233
Views: 28380

Re: Calling out the not so rich bogleheads

I have been an avid follower of this forum for quite some time now and would firstly like to say there's nothing quite like it anywhere on the web. It provides so much useful information on so many different things that I would rate it as one of the most useful websites as it pertains to investing ...
by 10YearPlan
Mon Sep 18, 2017 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Pocket money allowance for college student
Replies: 48
Views: 3233

Re: Pocket money allowance for college student

Interesting read, this thread. I don't know what I will do when my kids get there, but I can tell you I am *very* conflicted (internally, haven't discussed with the husband yet) on this topic. I think working, and earning your own spending money at that age, is very important. But I also recognize t...
by 10YearPlan
Tue Sep 12, 2017 2:04 pm
Forum: Investing - Help with Personal Investments
Topic: Retirees-anyone miscalculate how much was needed?
Replies: 71
Views: 10163

Re: Retirees-anyone miscalculate how much was needed?

Not retired yet. BUT...as a worker bee, I know that time off = opportunity to spend $, so I am concerned that an abundance of free time will equate to spending more money than I can possibly predict. I need to find some inexpensive hobbies in the next 5 years, I suppose. I like the idea of just pad...
by 10YearPlan
Tue Sep 12, 2017 1:18 pm
Forum: Personal Consumer Issues
Topic: What money to store outside for disaster?
Replies: 63
Views: 5753

Re: What money to store outside for disaster?

I have lived through several disasters including tornado destroying all homes across the street and damaging my home, Rita, Ike, Sandy, Harvey, and forest fires while camping. In none of them did I need any cash. I know that many people will disagree, but I have seen only one good reason to have ca...
by 10YearPlan
Tue Sep 12, 2017 10:04 am
Forum: Personal Finance (Not Investing)
Topic: When calculating net worth, how do you value your house?
Replies: 167
Views: 11691

Re: When calculating net worth, how do you value your house?

Oh, to answer the OP's question, I value the house with an official appraisal we received. It is several years old now, and likely not 100% accurate as a result, but it seems to be more reliable than Zillow. I do not "discount" for anticipated future sales costs/commissions, etc.
by 10YearPlan
Tue Sep 12, 2017 9:54 am
Forum: Investing - Help with Personal Investments
Topic: Retirees-anyone miscalculate how much was needed?
Replies: 71
Views: 10163

Re: Retirees-anyone miscalculate how much was needed?

Not retired yet. BUT...as a worker bee, I know that time off = opportunity to spend $, so I am concerned that an abundance of free time will equate to spending more money than I can possibly predict. I need to find some inexpensive hobbies in the next 5 years, I suppose. I like the idea of just padd...
by 10YearPlan
Tue Sep 12, 2017 9:09 am
Forum: Personal Finance (Not Investing)
Topic: When calculating net worth, how do you value your house?
Replies: 167
Views: 11691

Re: When calculating net worth, how do you value your house?

I can't believe we're even having this discussion. Anyone with a day of financial/accounting experience knows Net Worth is Assets - Liabilities. To argue otherwise is ignorant. If you want to exclude home equity in your personal situation, fine, just don't call it your Net Worth----call it somethin...
by 10YearPlan
Tue Aug 29, 2017 9:29 am
Forum: Personal Consumer Issues
Topic: Struggling with "Live like a Resident" versus "Keeping up with the Joneses"
Replies: 139
Views: 23537

Re: Struggling with "Live like a Resident" versus "Keeping up with the Joneses"

I once read a short book that really changed how I viewed spending. It said folks make decisions based on one of three reasons: Utilitarian, expressive, and emotional. Utilitarian decisions are like, "I need a new pair of shoes since mine are worn out" or "I need a new house because don't have enou...
by 10YearPlan
Mon Jul 24, 2017 11:10 am
Forum: Personal Consumer Issues
Topic: Is Amazon Prime worth it?
Replies: 135
Views: 12036

Re: Is Amazon Prime worth it?

It depends. Like others have mentioned, if you don't buy frequently enough for the free shipping to break even or nearly so, then I am not sure the additional features will have enough value to justify the cost. We have recently begun using it for video services. The Man in the High Castle, for exam...