Search found 491 matches

by EddyB
Tue Jul 17, 2018 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirement
Replies: 145
Views: 13230

Re: Early retirement

I retired 2 years ago at 47 and my wife last year at 49. We still have side gigs for about 1 week per month so I guess we are really 75% retired. The days go so quick. We look at each other every night and think where did the day go? We are active and workout most days. We spend 30-40% of the year ...
by EddyB
Sun Jul 15, 2018 10:27 pm
Forum: Personal Finance (Not Investing)
Topic: FireCalc: How big a grain of salt?
Replies: 58
Views: 4421

Re: FireCalc: How big a grain of salt?

OMY and you will be fine, if still fearful than another OMY. OMY. OMY. OMY. OMY. To be honest, if BH could be in trouble by not having enough, imagine what the rest of the country/world would be like. YOLO :sharebeer When you can make the decision (to retire or not), OMY can alleviate many problems...
by EddyB
Fri Jul 13, 2018 11:27 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirement
Replies: 145
Views: 13230

Re: Early retirement

50-55 is considered early now? Military enlisted can retire with pension at 37, officers with pension at 40. I would consider early retirement 35-40 tops, since there are a lot of entrepreneurs, real estate investors, and online business owners that do it at 25-26. I mean, they do it but of course ...
by EddyB
Wed Jul 11, 2018 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: What are your property taxes?
Replies: 212
Views: 12867

Re: What are your property taxes?

But if homes go up 10% or whatever in a year(s) why does government spending need to go up by the same amount? This is a criticism of all taxes I can think of (income, capital gains, sales, property). Do you have a better system? I suspect the basic justification is that the more money you make (in...
by EddyB
Thu Jul 05, 2018 11:13 am
Forum: Personal Consumer Issues
Topic: How to tip
Replies: 87
Views: 5321

Re: How to tip

TravelGeek wrote:
Wed Jul 04, 2018 5:00 pm
masonstone wrote:
Wed Jul 04, 2018 4:10 pm
Do you tip a percentage of the whole tab or the pre-tax tab?
Both :) (if I am at home in the state of Oregon)
Same, and when not in Oregon, I look at the pre-tax total, because why would I tip waitstaff better away from home?
by EddyB
Mon Jul 02, 2018 10:12 pm
Forum: Personal Finance (Not Investing)
Topic: Affording a $1.8-2M house
Replies: 54
Views: 9134

Re: Affording a $1.8-2M house

ArmchairArchitect wrote:
Mon Jul 02, 2018 7:50 pm
MCOL cities are the sweet spot.
Telecommuting to an HCOL area is pretty sweet.
by EddyB
Mon Jul 02, 2018 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: What are your property taxes?
Replies: 212
Views: 12867

Re: What are your property taxes?

We pay just under 15k on a 300k house in the Midwest rust-belt area of the country. Most of our property taxes go to the schools. Some jurisdictions have two property taxes - one for general jurisdiction and another for school taxes. I think my county has three property taxes (school, bond servicin...
by EddyB
Thu Jun 28, 2018 4:08 pm
Forum: Investing - Help with Personal Investments
Topic: Stocks vs. rental property
Replies: 101
Views: 9747

Re: Stocks vs. rental property

Its just simple math, though. Indexing is fine, its just a 25-30+ year plan. Not everyone wants to be pigeon holed for that long working a job (or jobs) that may be uncertain, or they may not like. People change. Things change. Health changes. What if they want to train for a triathlon, start a bus...
by EddyB
Thu Jun 28, 2018 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: What is/ was your career and would you recommend it now?
Replies: 345
Views: 32428

Re: What is/ was your career and would you recommend it now?

self employed, haven't had a 'boss' since I was 27. No describing the satisfaction of not having someone tell me what to do. theplayer11, I disagreed. In a business, your customer tells you what to do. KlangFool Some people treat it that way, others treat customer requests as requests.
by EddyB
Mon Jun 18, 2018 11:24 am
Forum: Personal Finance (Not Investing)
Topic: can we afford to spend $20K on travel annually
Replies: 89
Views: 7000

Re: can we afford to spend $20K on travel annually

$200,000 for 10 years of vacations is too much, even on your salary. An exotic trip to Africa, Australia, the Far East here and there is fine, but not as a routine. Definitely do enjoy life and travel if you desire. Also, extrapolating to other aspects of your life, make sure you don't have to spen...
by EddyB
Mon Jun 18, 2018 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Why pay cash for a car?
Replies: 248
Views: 30134

Re: Why pay cash for a car?

If the rate is low enough to be attractive, it is being subsidized by the auto maker. If you go all cash, you can get some of that subsidy in the form of a price reduction. This is a very accurate statement. Anything less than a 4% offer on financing from a dealer is “probably” subsidized. I have a...
by EddyB
Mon Jun 18, 2018 9:42 am
Forum: Personal Consumer Issues
Topic: Recommendation for good charging station to charge phones, tablets
Replies: 11
Views: 717

Re: Recommendation for good charging station to charge phones, tablets

I have and like this Anker 5-port USB charger. $24 on Amazon. https://www.amazon.com/gp/product/B00VH958F0/ Edit: But looking now at the Satechi station that TimDix recommends. Looks pretty good. I like how it provides a place to put your devices in an organized manner. If I were doing it over, I'd...
by EddyB
Sun Jun 17, 2018 1:52 pm
Forum: Investing - Help with Personal Investments
Topic: IRA concerns
Replies: 29
Views: 1107

Re: IRA concerns

The transaction fee for buying Vanguard funds at Schwab or Fidelity (somewhere like $60 - $80) is a bargain when you consider the lower ER and when purchasing large amounts, like you would be, is inconsequential. Of course, the transaction fee for these Vanguard funds at Vanguard is $0.00 But yhe S...
by EddyB
Sun Jun 17, 2018 11:28 am
Forum: Investing - Theory, News & General
Topic: A different theoretical view of SWR
Replies: 63
Views: 3976

Re: A different theoretical view of SWR

Well - 3.33% is less than 4% so already very conservative. Do you adjust the withdrawal to account for inflation - or does it stay fixed? Do you recalculate every year? Do I get to take 5% 10 years into my 30 year retirement? Whoa... 2. 3.33% is neither "very conservative" or aggressive. It's just ...
by EddyB
Sun Jun 17, 2018 7:00 am
Forum: Investing - Theory, News & General
Topic: Oh my! Cardone says we need $10m net worth
Replies: 104
Views: 13918

Re: Oh my! Cardone says we need $10m net worth

If we assume made-up taxes, but have to accept bank-account returns, I don’t think $10 million is enough. In those conditions, even the inflation of the 1970s would be crippling, with high nominal interest income getting crushed by taxes while still losing buying power. That makes me think that it’s...
by EddyB
Wed Jun 06, 2018 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Submitting an offer on a home
Replies: 24
Views: 2689

Re: Submitting an offer on a home

Has nothing to do with negotiating terms. The average, no, I'll go further - MOST people a) don't read contracts or b) read them and don't understand them. They see a clause that they don't understand, and skip over it. Or they say to their realtor, "make sure we ask for X". A good lawyer can help ...
by EddyB
Wed Jun 06, 2018 11:53 am
Forum: Personal Finance (Not Investing)
Topic: Submitting an offer on a home
Replies: 24
Views: 2689

Re: Submitting an offer on a home

Line up a real estate attorney. Depends on the state law and customs. I guess someone could get a real estate lawyer regardless but in many places it would be very unusual for any lawyers at all to be involved. Based on a little googling, it looks like that in Louisiana, it is usually a title compa...
by EddyB
Sun Jun 03, 2018 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 276
Views: 14002

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

If the OP is an academic in the medical field, I’d say, find a way to transition to wrting on medical-legal issues, and look for a law school career that way (I had a non-lawyer professor in law school, an economist). If not already an academic, I’d say the odds are very long and the payoff very lim...
by EddyB
Sun Jun 03, 2018 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Have $2.5M at 30, career advice needed
Replies: 49
Views: 5355

Re: Have $2.5M at 30, career advice needed

IMO, you are not thinking clearly. Of your $2.5M net worth, $2.0M is from inheritance. I would mentally separate that amount: you did not earn it, you should not count that (yet). I thought he’d already received he inheritance? Why would he not “count it”? Receiving a multi-million dollar inheritan...
by EddyB
Fri Jun 01, 2018 9:29 pm
Forum: Investing - Theory, News & General
Topic: Renting vs Owning Your Home
Replies: 166
Views: 13649

Re: Renting vs Owning Your Home

The only reason someone "needs" a big, expensive, maintenance intensive, high property taxes house is because society indoctrinated into that person's head that it will make them happy, or to house multiple children. It is a little bit of both but moreso the former. I literally wake up in a state o...
by EddyB
Fri Jun 01, 2018 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Comparing jobs: bonus vs no bonus
Replies: 26
Views: 1678

Re: Comparing jobs: bonus vs no bonus

Just from my own experience, I would discount the bonus. Assume you only get 75%-80% of the target. I was leaning towards that approach. Thanks. My own experience - unless employer provides you with a written ironclad guarantee of bonus, the term "eligibility" should be treated like a lottery ticke...
by EddyB
Fri Jun 01, 2018 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Comparing jobs: bonus vs no bonus
Replies: 26
Views: 1678

Re: Comparing jobs: bonus vs no bonus

Just from my own experience, I would discount the bonus. Assume you only get 75%-80% of the target. I was leaning towards that approach. Thanks. My own experience - unless employer provides you with a written ironclad guarantee of bonus, the term "eligibility" should be treated like a lottery ticke...
by EddyB
Thu May 31, 2018 11:23 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 99
Views: 12729

Re: Have $3m at 33, "approach to career" advice needed

2) Kids learn primarily by example, not by words. It's hard for young minds to grasp the concepts of working hard, responsibility, time management when you aren't practicing them yourself and are instead blabbing on about them in your pajamas while they are getting ready for school. I imagine my ki...
by EddyB
Thu May 31, 2018 10:47 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 99
Views: 12729

Re: Have $3m at 33, "approach to career" advice needed

2) Kids learn primarily by example, not by words. It's hard for young minds to grasp the concepts of working hard, responsibility, time management when you aren't practicing them yourself and are instead blabbing on about them in your pajamas while they are getting ready for school. I imagine my ki...
by EddyB
Wed May 30, 2018 4:07 pm
Forum: Investing - Theory, News & General
Topic: Renting vs Owning Your Home
Replies: 166
Views: 13649

Re: Renting vs Owning Your Home

Finally, financial considerations aside, spending money often leads to more fun. So maybe the renter would have a more enjoyable life than the house owner even if they didn't have a higher net worth. A renter has a more enjoyable life because: - she moves close to the job and avoids commute - she s...
by EddyB
Thu May 24, 2018 9:30 pm
Forum: Investing - Theory, News & General
Topic: Renting vs Owning Your Home
Replies: 166
Views: 13649

Re: Renting vs Owning Your Home

OP, Why justifying purchasing a house that you would never rent? Then, claim that you are saving money based on the house that you will never rent? If someone wants to spend more on housing, they should acknowledge that instead of playing games. KlangFool That’s an obviously flawed portrayal. An ow...
by EddyB
Wed May 23, 2018 10:42 pm
Forum: Investing - Theory, News & General
Topic: The Millionaire Next Door and civil servants
Replies: 99
Views: 14371

Re: The Millionaire Next Door and civil servants

Civil servants are like anyone else. Not exactly. They have large defined benefit pensions that are becoming less and less common in the private sector. The fed DB pensions are nice. But they are also getting whittled down as described by MnD. Most professional fed jobs are also underpaid. My perso...
by EddyB
Sat May 19, 2018 9:25 am
Forum: Personal Consumer Issues
Topic: how do you tip on wine at a restaurant
Replies: 209
Views: 12688

Re: how do you tip on wine at a restaurant

I can hear the cry of money managers—“1% is a customary expense ratio, you cheapskates!”
by EddyB
Fri May 18, 2018 11:34 am
Forum: Personal Consumer Issues
Topic: Road trip Newark NJ to Albany
Replies: 76
Views: 3823

Re: Road trip Newark NJ to Albany

Thanks for the replies.The reason for flying to Newark from Calif is SWA has non stop flights.I could fly to Albany but it takes about 4 more hours and terrible flight times.I also figured there would be something to see on the drive to and from.We may consider the train.We have been to Manhattan a...
by EddyB
Thu May 17, 2018 10:51 pm
Forum: Personal Consumer Issues
Topic: how do you tip on wine at a restaurant
Replies: 209
Views: 12688

Re: how do you tip on wine at a restaurant

I also tip on the total not the sub-total as I know some cheapskates do. It is very nice of you that you tip on the total but there is no need to call others who tip on the sub-total cheapskates. I think it is an acceptable practice to tip based on pre-tax total as per Emily Post Institute. http://...
by EddyB
Tue May 15, 2018 11:17 pm
Forum: Personal Finance (Not Investing)
Topic: Can a <median household save 1 year of expenses every year?
Replies: 158
Views: 8522

Re: Can a <median household save 1 year of expenses every year?

My wife and I qualified very near to this for first 2 years out of college. She made 60k and I was in school. 6% to 401k and nearly 40% to student loans before taxes. We were well above 50% of after tax. Edit: didn't live with family (not that there's anything wrong with that but it would've made i...
by EddyB
Tue May 15, 2018 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: Requesting to go part time - negotiating strategies
Replies: 41
Views: 4113

Re: Requesting to go part time - negotiating strategies

OP, does your employer have written policies concerning part-time or other "flex" arrangements, or has it made similar public statements? At large employers that make a point of publicly touting employment flexibility, I have heard that parroting back the relevant statements makes it more likely for...
by EddyB
Mon May 14, 2018 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Lucrative careers?
Replies: 318
Views: 24936

Re: Lucrative careers?

People tell you to do what you love because you will be better at it and you’re interest will show to others. You can't just do what you love. A lot of misinformed kids majored in what they loved, got worthless esoteric liberal arts degrees, and ended up working low skill low pay jobs with a boatlo...
by EddyB
Mon May 07, 2018 6:40 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 3131
Views: 957077

Re: What Book Are You Currently Reading? Part VI

"The Curve of Time" by M. Blanchet.

A very pleasant memoir by a widowed mother of five, recounting several summers' sailing explorations of coastal British Columbia with her children.
by EddyB
Mon May 07, 2018 6:13 pm
Forum: Personal Consumer Issues
Topic: When to buy new underwear?
Replies: 86
Views: 6496

Re: When to buy new underwear?

Don't you guys hate throwing out a perfectly good sock just because it develops a small hole at big toe? No. Socks are so cheap, I don't even bother buying DarnTough socks which are guaranteed forever and people do send in old socks to get replacement ones. I imagine the postage, hassle, and time t...
by EddyB
Sat May 05, 2018 3:41 pm
Forum: Personal Consumer Issues
Topic: What do you pay baby sitters?
Replies: 53
Views: 5298

Re: What do you pay baby sitters?

I have to laugh about this subject. I am 80 and when I cared for children in the early 1950s I charged twenty-five cents per hour (and for three kids) and those parents balked when I raised the price to thirty-five cents per hour. :annoyed Are these rates tempting you to go back into the business?
by EddyB
Tue May 01, 2018 4:14 pm
Forum: Personal Consumer Issues
Topic: Daughter and Girlfriend, age 19, taking cross country road trip. Advice?
Replies: 187
Views: 9366

Re: Daughter and Girlfriend, age 19, taking cross country road trip. Advice?

As a dad, I would not only ask to be notified daily, I will demand it. Their experience and freedom will not be compromised if they take 5 seconds out of the day to send a text. You can even make a code word for them to send you once a day. The word will be their way of telling you everything is go...
by EddyB
Mon Apr 30, 2018 8:54 pm
Forum: Personal Consumer Issues
Topic: Daughter and Girlfriend, age 19, taking cross country road trip. Advice?
Replies: 187
Views: 9366

Re: Daughter and Girlfriend, age 19, taking cross country road trip. Advice?

scorcher31 wrote:
Mon Apr 30, 2018 8:10 pm
I would ask them to check in every day or so by quick text.
It's at least worth considering whether it would be beneficial---for both these women and their parents---that the travelers not check in that frequently.
by EddyB
Sun Apr 29, 2018 9:07 am
Forum: Investing - Help with Personal Investments
Topic: Traditional vs. Roth IRA for high-tax bracket
Replies: 11
Views: 861

Re: Traditional vs. Roth IRA for high-tax bracket

You're somewhat mixing the terms here. The Mega Backdoor Roth is a roll-over from after-tax Roth 401k contributions to a roll-over Roth IRA. You're not really making a "Roth IRA contribution", you're making a " Roth 401k contribution" followed by a roll-over. Rollovers don't affect the yearly contr...
by EddyB
Sat Apr 28, 2018 10:31 pm
Forum: Investing - Theory, News & General
Topic: KF's simple rules to achieve FI [Financial Independence]
Replies: 451
Views: 33149

Re: KF's simple rules to achieve FI [Financial Independence]

EddyB, <<(1) ratio of net worth to house purchase price >> Just to get a clear understanding of your position. 1) You believe that net worth should not be used at all to decide the house purchase price Or, 2) Or the ratio of 2.5 is too high and it needs to be lowered. And, the number should be? Is ...
by EddyB
Sat Apr 28, 2018 7:36 pm
Forum: Investing - Theory, News & General
Topic: KF's simple rules to achieve FI [Financial Independence]
Replies: 451
Views: 33149

Re: KF's simple rules to achieve FI [Financial Independence]

You believe that it is not possible for someone to be permanently unemployed or under-employed. Hence, your financial planning is based on those set of assumptions. I believe that it is possible for someone to be permanently unemployed or under-employed. Hence, I designed my rules to take those ass...
by EddyB
Sat Apr 28, 2018 5:06 pm
Forum: Investing - Theory, News & General
Topic: KF's simple rules to achieve FI [Financial Independence]
Replies: 451
Views: 33149

Re: KF's simple rules to achieve FI [Financial Independence]

You believe that it is not possible for someone to be permanently unemployed or under-employed. Hence, your financial planning is based on those set of assumptions. I believe that it is possible for someone to be permanently unemployed or under-employed. Hence, I designed my rules to take those ass...
by EddyB
Sat Apr 28, 2018 2:01 pm
Forum: Investing - Theory, News & General
Topic: KF's simple rules to achieve FI [Financial Independence]
Replies: 451
Views: 33149

Re: KF's simple rules to achieve FI [Financial Independence]

My problem with his “rules” is that while they may have “worked,” at least a couple of them likely made him worse off financially (and would make others worse off financially), but he is unwilling to recognize that as significant. Granted, but, has it occurred to you that different value systems ma...
by EddyB
Sat Apr 28, 2018 11:36 am
Forum: Investing - Theory, News & General
Topic: KF's simple rules to achieve FI [Financial Independence]
Replies: 451
Views: 33149

Re: KF's simple rules to achieve FI [Financial Independence]

I just want to thank Klang Fool for his postings. It is bound to be a classic. I am a bit dismayed, but not surprised, by many of the comments made in the thread. It seems to me many people are very sensitive in who they are as individuals, and the choices they make, so they feel the need to tear d...
by EddyB
Sat Apr 28, 2018 10:40 am
Forum: Personal Consumer Issues
Topic: Wedding - financial burden on couple and attendees
Replies: 168
Views: 10978

Re: Wedding - financial burden on couple and attendees

Broken Man 1999 wrote:
Sat Apr 28, 2018 9:52 am

Attendance (other than couple) is not required. Extravagant spending is not required. Both are choices. Your choice to attend. Their choice to select venue/spending.

Broken Man 1999
Fixed that for you, I think; last I checked, Montana allows marriage by double proxy!
by EddyB
Fri Apr 27, 2018 3:50 pm
Forum: Investing - Theory, News & General
Topic: KF's simple rules to achieve FI [Financial Independence]
Replies: 451
Views: 33149

Re: KF's simple rules to achieve FI

For me, the choice of college savings account types is one of predicting the future: Taxable: Much better if money is not needed for college and instead used for something else (capital gains tax vs penalty + regular income tax rates, and potential for zero capital gains tax if sold in low-income r...
by EddyB
Fri Apr 27, 2018 1:00 pm
Forum: Personal Consumer Issues
Topic: Wedding - financial burden on couple and attendees
Replies: 168
Views: 10978

Re: Wedding - financial burden on couple and attendees

So from reading the thread: the idea (I'm tempted to use another word) is that by having a destination wedding: - bride and groom get to have a wedding in an exotic place, and they don't have to spend as much. - in return, everyone else who wants to go ends up paying for the wedding because the res...
by EddyB
Thu Apr 26, 2018 11:23 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Financial Perils Of Old Age
Replies: 94
Views: 11407

Re: Larry Swedroe: Financial Perils Of Old Age

Along similar lines, I recommend this article from a few years ago: https://www.theatlantic.com/magazine/archive/2014/10/why-i-hope-to-die-at-75/379329/ Why I Hope to Die at 75. (He's a staunch opponent of physician assisted suicide, incidentally.) The author of that essay might want to check with ...
by EddyB
Thu Apr 26, 2018 2:54 pm
Forum: Investing - Help with Personal Investments
Topic: Cannot buy State-Specific Funds Unless you live in that State?
Replies: 10
Views: 615

Re: Cannot buy State-Specific Funds Unless you live in that State?

So I was all set to do a tax loss swap from my Intermediate Tax Exempt to the California Intermediate Tax Exempt. Seems like a great pair. Then when doing the swap the website kicks up an error that says you cannot invest in this state-specific fund because the registered state on the account diffe...
by EddyB
Thu Apr 26, 2018 12:56 pm
Forum: Personal Consumer Issues
Topic: Wedding - financial burden on couple and attendees
Replies: 168
Views: 10978

Re: Wedding - financial burden on couple and attendees

As you can see from the debate that has started above different people view weddings in different ways. Some view it as "I want to share our marriage celebration with all our close family and close friends and will do what I can to be inclusive". While others seem to view it as "Its our wedding day...