Search found 520 matches

by SQRT
Wed Jul 12, 2017 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Jewelry insurance. Is it ever worth it?
Replies: 35
Views: 2891

Re: Jewelry insurance. Is it ever worth it?

My wife has a number of expensive pieces of jewelry. While they would cost several 100's of thousands to replace in total, the chance of losing them all at once is remote. Although this would not be a significant portion of our net worth, and we probably wouldn't replace them if lost, it would be a ...
by SQRT
Tue Jul 11, 2017 7:43 am
Forum: Personal Consumer Issues
Topic: How did you handle the costs of your child's wedding?
Replies: 170
Views: 11741

Re: How did you handle the costs of your child's wedding?

I only have one daughter. When she was a young girl, I promised her I would pay for her wedding. I was going through a difficult divorce from her mother at the time and I think she(daughter) was feeling unloved or insecure at the time. Seemed like the right thing to do at that point. 20 years later ...
by SQRT
Wed Jun 28, 2017 6:05 am
Forum: Personal Finance (Not Investing)
Topic: Retirement spending
Replies: 16
Views: 2152

Re: Retirement spending

Most people here will not spend it all. Like others have said, since it's much worse to run out than to leave some behind, most are careful not to spend it all. The good markets of the last 8 years have helped a lot. I retired in 2006 and my portfolio is up about 2/3rds since then. Accordingly, incr...
by SQRT
Tue Jun 27, 2017 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Do you check your dividends?
Replies: 16
Views: 1567

Re: Do you check your dividends?

I have a spreadsheet that forecasts my divs, amounts and dates. I check for them the day they are due and transfer the funds out to spend. Never been a mistake.
by SQRT
Sun Jun 18, 2017 9:33 am
Forum: Investing - Theory, News & General
Topic: Do Bonds have a place if basic expenses are covered by income streams?
Replies: 69
Views: 3793

Re: Do Bonds have a place is basic expenses covered by income streams?

If SS, pension and/or annuities will cover your basic living expenses in retirement so that you would only need to tap your portfolio for some travel, new roofs or emergencies is there a reason to hold bonds at that point? I would say very little reason. Especially if your portfolio is fairly large...
by SQRT
Sun Jun 18, 2017 7:39 am
Forum: Personal Finance (Not Investing)
Topic: Who takes financial chances and why is this forum so financially conservative?
Replies: 139
Views: 12445

Re: Who takes financial chances and why is this forum so financially conservative?

Agree with your opinion on SWR and I've brought it up many times to the point where I've stopped reading SWR threads. The super conservative SWR folk are going to wind up working longer/harder and leaving a huge ball of money behind. Opportunity cost to the max. To the inevitable "well what if...
by SQRT
Wed Jun 14, 2017 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Who takes financial chances and why is this forum so financially conservative?
Replies: 139
Views: 12445

Re: Who takes financial chances and why is this forum so financially conservative?

I'm not a boglehead. As such, I generally ignore direct investing topics here. Pick my own stock, buy and hold, dividend focused, outperformed appropriate benchmarks significantly for 20 years. Not as diversified as I would like and thus assume more risk than most posters here would feel comfortable...
by SQRT
Wed Jun 14, 2017 9:16 am
Forum: Personal Consumer Issues
Topic: Worth it to buy expensive clothes?
Replies: 92
Views: 8870

Re: Worth it to buy expensive clothes?

I like nice clothes and pay quite a bit for such ($12-15 k per year). I know when I look good and feel better when I do. Fit is indeed paramount. Once you find a brand that fits you well you should stick to it. For dress shirts, I have to admit that in my opinion nothing can come close to costco. Un...
by SQRT
Tue Jun 06, 2017 7:20 am
Forum: Personal Finance (Not Investing)
Topic: Budgeting
Replies: 47
Views: 3325

Re: Budgeting

I use EXCEL for budgeting, retirement projections, what-ifs, and everything else you can think of. I used it (or a variant) throughout my career, and find it really convenient. Likewise. Been using excel or before it lotus 123 for about 30 years. Would be lost without it. Have spreadsheets for ever...
by SQRT
Fri Jun 02, 2017 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Why does step-up basis apply to estates, but not gifts?
Replies: 29
Views: 2075

Re: Why does step-up basis apply to estates, but not gifts?

The whole step up and estate tax regime makes little sense. In Canada there is a deemed disposition at market prices on death (other than to a spouse) and any cap gains tax is paid by the estate. Makes much more sense. Interesting. I'm curious.,,do they go after beneficiaries for unpaid income tax ...
by SQRT
Thu Jun 01, 2017 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Play Money for Spouse....
Replies: 138
Views: 9769

Re: Play Money for Spouse....

My spouse checks our CC's every morning on line and has caught fraudulent transactions several times. Always ahead of the CC company. I do agree that fraud detection is a poor reason for micro managing your spouse's expenses. No incentive for me to be more proactive in reviewing charges. I can unde...
by SQRT
Thu Jun 01, 2017 7:47 am
Forum: Personal Finance (Not Investing)
Topic: How does a mere mortal navigate healthcare/insurance issues
Replies: 50
Views: 4653

Re: How does a mere mortal navigate healthcare/insurance issues

Canadians also have some issues with navigating our health care system, but they really look minor compared to the US. Must be awful?
by SQRT
Thu Jun 01, 2017 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Play Money for Spouse....
Replies: 138
Views: 9769

Re: Play Money for Spouse....

It would drive me crazy if someone was categorizing each item of my personal spending. What if I purchased a gift for spouse and hadn't even given it yet? . Yes, this can be an issue. In our case she can keep it a surprise because she reviews our CC's. If I buy her something on the CC, she will kno...
by SQRT
Thu Jun 01, 2017 7:10 am
Forum: Personal Finance (Not Investing)
Topic: Play Money for Spouse....
Replies: 138
Views: 9769

Re: Play Money for Spouse....

A couple different people have mentioned identity theft and/or stolen credit card numbers...which leads me to ask: Has anyone had a credit card number stolen and identified the situation *before* your credit card company? My wife and I have had our cards compromised 5 or 6 times over the past decad...
by SQRT
Thu Jun 01, 2017 7:00 am
Forum: Personal Finance (Not Investing)
Topic: Why does step-up basis apply to estates, but not gifts?
Replies: 29
Views: 2075

Re: Why does step-up basis apply to estates, but not gifts?

The whole step up and estate tax regime makes little sense. In Canada there is a deemed disposition at market prices on death (other than to a spouse) and any cap gains tax is paid by the estate. Makes much more sense.
by SQRT
Tue May 30, 2017 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Play Money for Spouse....
Replies: 138
Views: 9769

Re: Play Money for Spouse....

I think it is good that a spouse have some personal money that he/she doesn't need to account for. The less a couple has to explain the better? In my case we have always kept our investment portfolios separate and we each have pensions. It happens that my portfolio and pension are much larger than h...
by SQRT
Wed May 24, 2017 7:39 am
Forum: Personal Finance (Not Investing)
Topic: i am my own "guy," but not sure I should advertise that
Replies: 107
Views: 13895

Re: i am my own "guy," but not sure I should advertise that

It occurred to me that I maybe should keep my mouth shut about relying on BH. Is sharing the good word something that you do, or is evangelizing, to borrow a term, more likely to cause harm than good? What harm do you think it would cause? I've never had a single problem in two decades of talking (...
by SQRT
Tue May 23, 2017 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Question for you high net worth individuals... [real estate investments]
Replies: 82
Views: 10699

Re: Question for you high net worth individuals...

We have lots of real estate (maybe 20% of net worth) but it was purchased after we were HNW and is all personal use. Our high net worth was the result of a very high paying job and particularly the incentive comp(mostly options) that went along with it. If you live in rapidly appreciating real estat...
by SQRT
Tue May 23, 2017 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Net worth is overrated
Replies: 76
Views: 9523

Re: Net worth is overrated

We each think we fall right on the sweet spot of the frugality-to-profligacy spectrum -- but that's just opinion. Exactly. By extension we think everyone that spends more than us is wasting money and extravagant. Anyone that spends less is a miser. For most people, they simply spend what they think...
by SQRT
Tue May 23, 2017 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Net worth is overrated
Replies: 76
Views: 9523

Re: Net worth is overrated

I am more interested in how much income I can generate in retirement and what my projected expenses are than in net worth. My net worth is increased by real estate, but the real estate requires paying certain expenses and taxes and generates some income too. I don't use net worth in my calculations...
by SQRT
Mon May 22, 2017 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Net worth is overrated
Replies: 76
Views: 9523

Re: Net worth is overrated

Everyone's circumstances are different for sure. I do include my pension in my net worth, at least in my head as it is easy to calculate. Not sure why spending should be an issue other than to decide how much net worth you need to retire. In the end its cash flow that is most important in retirement...
by SQRT
Tue May 09, 2017 6:55 am
Forum: Personal Finance (Not Investing)
Topic: Buying second home in Georgia- tax implications
Replies: 9
Views: 1053

Re: Buying second home in Georgia- tax implications

Pied-a-terre is simply a small in-town for folks who live away from a city but want to take advantage of the opportunities offered by an urban location. Steve We have such a residence in Toronto. Condo apartment and thus easy to maintain. Very convenient when we visit family there. Probably 100 res...
by SQRT
Sun May 07, 2017 8:22 am
Forum: Personal Finance (Not Investing)
Topic: How much to self fund LTC
Replies: 19
Views: 1523

Re: How much to self fund LTC

We are in the lucky position that LTC would be significantly less than our current spending levels. I expect that by that age our other spending would be greatly reduced. So, not really an issue.
by SQRT
Fri May 05, 2017 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: Incentivising Kids
Replies: 22
Views: 1554

Re: Incentivising Kids

The best thing you can do is show them a good financial example. All these complicated "incentive plans" for your kids are silly in my view. It will just give them an incentive to "game you".
by SQRT
Fri May 05, 2017 1:16 am
Forum: Personal Finance (Not Investing)
Topic: Convince me that I'm holding too much cash
Replies: 62
Views: 8250

Re: Convince me that I'm holding too much cash

Liquidity is important but it is expensive. You should analyse what your requirements are, ie do you have lumpy expenses? What kind of emergency might crop up? Do you have good health insurance? Do you have access to credit? Hard for us to give advice here. Measuring liquidity as a % of your portfol...
by SQRT
Fri May 05, 2017 1:00 am
Forum: Personal Finance (Not Investing)
Topic: Buying a luxury car (how dumb would it be to do this?)
Replies: 216
Views: 19241

Re: Buying a luxury car (how dumb would it be to do this?)

You can afford it. If you really want it, go for it. Does your spouse agree? She should. Pay cash for it as that will test your resolve as to whether you really want it. Couple years old would be smarter probably. I have driven X5's for 17 years. Great but expensive. Also have a couple M cars. Now t...
by SQRT
Thu May 04, 2017 11:47 am
Forum: Personal Finance (Not Investing)
Topic: have you accepted a lower cost lifestyle to retire early?
Replies: 71
Views: 9375

Re: have you accepted a lower cost lifestyle to retire early?

I actually have a friend who moved from Paradise Valley to the Pinnacle Peak area and sold after a year because he couldn't stand being in the "Wilderness", lol! He's definitely a city boy. :wink: To each his own! Agree. Our Arizona house is in Paradise Valley but we have a lot of friends...
by SQRT
Thu May 04, 2017 11:40 am
Forum: Personal Finance (Not Investing)
Topic: have you accepted a lower cost lifestyle to retire early?
Replies: 71
Views: 9375

Re: have you accepted a lower cost lifestyle to retire early?

No, actually quite the contrary. Just kept saving away and all of a sudden had quite a nestegg. Retired a few years later at 56. Now 66 and divs plus pension is about 40% higher than my spend while working. I know thIs is not the norm and how lucky I am that it worked out this way.
by SQRT
Sat Apr 29, 2017 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Helping adult children
Replies: 81
Views: 8797

Re: Helping adult children

Interesting discussion. What if one of the sibs has a medical issue beyond his control? Will be very costly and prevent him from working at a fairly young age. Does that justify extra assistance from parents? I think it does and my in laws have done such. Resentment? Maybe from one sib but too bad. ...
by SQRT
Thu Apr 27, 2017 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 20980

Re: Any regrets living a frugal life for high income/high networth individuals?

Agree. Most people have finite wealth and thus have to make choices. That's one of the reasons why I think, a discussion of "frugalness" is difficult, ie it means different things to different people. LBYM is a much more defined yardstick. Your frugal is my miserly. My extravagance is som...
by SQRT
Wed Apr 26, 2017 10:26 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 20980

Re: Any regrets living a frugal life for high income/high networth individuals?

Unless you are in the top 10 most wealthy in the world (e.g. Bill Gates), you have to prioritize. Even multi-millionaires have to prioritize whether to get a personal jet or a European vacation villa. Mega movie stars/sports starts/singers/lotto winners go bankrupt all the time because they couldn'...
by SQRT
Tue Apr 25, 2017 11:43 am
Forum: Investing - Help with Personal Investments
Topic: Retirement with $8M in investments
Replies: 166
Views: 22680

Re: Retirement with $8M in investments

OP posted this message more than 4 months ago. It was his first post. He never replied to the 4 pages of comment that followed. Anybody find that strange? Not really. He may have decided it wasn't worth the aggravation to engage here about his issue. Many UHNW individuals are more careful about dis...
by SQRT
Mon Apr 24, 2017 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 20980

Re: Any regrets living a frugal life for high income/high networth individuals?

Frugal is a comparative term. I'm frugal compared to a billionaire. I think it's more important to be be responsible with your money than it is to try to "out frugal" someone. Living below your means (or at your means once retired) seems like a better yardstick to me. Many people try to ma...
by SQRT
Mon Apr 24, 2017 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 20980

Re: Any regrets living a frugal life for high income/high networth individuals?

Levett wrote:Meir Statman addresses the issue (for retirees) in today's Wall Street Journal ("The Mental Mistakes We Make with Retirement Spending"):

http://trueviralnews.com/the-mental-mis ... -spending/

Lev

Good article. Thanks for posting.
by SQRT
Mon Apr 24, 2017 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 20980

Re: Any regrets living a frugal life for high income/high networth individuals?

Couple of thoughts. I think there is a big difference between being frugal and LBYM. Also, there is probably a difference between being in accumulation mode and being in draw down or retirement mode. There can be little debate about the concept LBYM in accumulation mode as this is usually the only w...
by SQRT
Fri Apr 21, 2017 5:16 am
Forum: Personal Finance (Not Investing)
Topic: Why never speak badly about boss? [Need Bogleheads' wisdom]
Replies: 138
Views: 13634

Re: Why never speak badly about boss? [Need Bogleheads' wisdom]

Many companies have 360 assessment tools that allow anonymous feedback to go to your boss. This is the best way to do it.

Otherwise it seems pretty obvious why "badmouthing" the boss is not smart. Now, if there is abuse involved or illegal behaviour, different story.
by SQRT
Mon Apr 17, 2017 11:17 am
Forum: Personal Consumer Issues
Topic: how much is reasonable amount to spend [on gymnastics]
Replies: 42
Views: 3415

Re: how much is reasonable amount to spend [on gymnastics]

We made sure my daughter had a taste of virtually everything. Ice skating, ballet, piano, lots more I forgot about. No regrets.
by SQRT
Mon Apr 17, 2017 8:28 am
Forum: Personal Finance (Not Investing)
Topic: Is spending 15K to furnish home too much?
Replies: 39
Views: 4816

Re: Is spending 15K to furnish home too much?

We have furnished 2 homes from scratch since retiring 10 years ago. In each case we spent about 12-15% of the purchase price.
by SQRT
Mon Apr 17, 2017 8:22 am
Forum: Personal Finance (Not Investing)
Topic: Help me decide pension benefits, single life, 50%, 75% and/or 100% survival benefits
Replies: 41
Views: 3034

Re: Help me decide pension benefits, single life, 50%, 75% and/or 100% survival benefits

we had this very decision about 10 years ago. For us it was a no-brainer. 100% option. We didn't even consider the other options. For us it had nothing to do with the math. We did a risk assessment. You can calculate all the longevity estimates you can imagine, but one outlier event, one accident, ...
by SQRT
Sat Apr 15, 2017 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: What constitutes "a lot" of money?
Replies: 81
Views: 11661

Re: What constitutes "a lot" of money?

. What is the point of accumulating wealth just to let it sit in a pile so you can oogle it? If they aren't going to use it, perhaps they should work more actively to give it away like Gates and Buffet. This would be my view as well. I don't really understand money hoarders. Reminds me a bit of ano...
by SQRT
Sat Apr 15, 2017 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: What constitutes "a lot" of money?
Replies: 81
Views: 11661

Re: What constitutes "a lot" of money?

. What is the point of accumulating wealth just to let it sit in a pile so you can oogle it? If they aren't going to use it, perhaps they should work more actively to give it away like Gates and Buffet. This would be my view as well. I don't really understand money hoarders. Reminds me a bit of ano...
by SQRT
Sat Apr 15, 2017 7:45 am
Forum: Personal Finance (Not Investing)
Topic: What constitutes "a lot" of money?
Replies: 81
Views: 11661

Re: What constitutes "a lot" of money?

. What is the point of accumulating wealth just to let it sit in a pile so you can oogle it? If they aren't going to use it, perhaps they should work more actively to give it away like Gates and Buffet. This would be my view as well. I don't really understand money hoarders. Reminds me a bit of ano...
by SQRT
Sat Apr 15, 2017 7:38 am
Forum: Personal Finance (Not Investing)
Topic: What constitutes "a lot" of money?
Replies: 81
Views: 11661

Re: What constitutes "a lot" of money?

RAchip wrote:
SQRT wrote:My portfolio can fluctuate by high 6 figures daily, but I don't worry about it.



Umm, your portfolio can fluctuate by $900,000 per day (high 6 figures)? So you have what, a $90 million portfolio?
.

My portfolio can fluctuate by more than 1% per day.
by SQRT
Fri Apr 14, 2017 9:21 am
Forum: Personal Finance (Not Investing)
Topic: Carrying a mortgage into retirement
Replies: 39
Views: 4833

Re: Carrying a mortgage into retirement

Personal decision based on your risk aversion, etc. I would not carry a mortgage as long as I was comfortable with my liquidity risk, ie have enough access to cash or near cash for any emergency.
by SQRT
Fri Apr 14, 2017 8:41 am
Forum: Personal Finance (Not Investing)
Topic: What constitutes "a lot" of money?
Replies: 81
Views: 11661

Re: What constitutes "a lot" of money?

Depends on many factors, such as your wealth, income, your stage in life and the specific item. Obviously the wealthier you are the more comfortable you will be spending large amounts. This comfort level will change as you get wealthier but will often lag. I went from 0 to 60 financially, so to spea...
by SQRT
Sat Apr 01, 2017 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Retired 5 to 10 years? How has this bull changed your spending?
Replies: 13
Views: 1627

Re: Retired 5 to 10 years? How has this bull changed your spending?

Retired 10 years. Generally just pensions and divs up to thIs point. Portfolio up almost 100% so have recently started liquidating small amounts of stock. Maybe .5-1% on top of divs. Current market yield about 3.6%. This will raise my spending/giving by about 10% in total. Shouldn't have any difficu...
by SQRT
Thu Mar 30, 2017 2:28 am
Forum: Personal Finance (Not Investing)
Topic: Budgeting vs Tracking Expenses?
Replies: 42
Views: 3773

Re: Budgeting vs Tracking Expenses?

I've been tracking expenses for decades. I call it a " budget"but as in the OP it doesn't really restrict my spending much, ie I generally spend what I want and this results in being "over budget" most years. More of a guideline than a budget. I think I was only "under budge...
by SQRT
Tue Mar 21, 2017 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Gross Yearly Income needed in Retirement (Speculation)
Replies: 194
Views: 22369

Re: Gross Yearly Income needed in Retirement (Speculation)

I retired 10 years ago with a projected income in retirement well in excess of what I was spending prior to retirement. While most people decide how much they need then retire once this is secured, others just save as much as they can then adjust (up or down) their spending in retirement to match th...
by SQRT
Tue Mar 21, 2017 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Buying a second home in Florida- mortgage or purchase
Replies: 15
Views: 1492

Re: Buying a second home in Florida- mortgage or purchase

bloom2708 wrote:Pay cash.

Enjoy your retirement without the hassle of a mortgage payment.

Congrats on retiring!

Agree. Also, paying cash makes you think pretty hard about whether you really want it and will use it.
by SQRT
Wed Mar 15, 2017 11:42 am
Forum: Personal Consumer Issues
Topic: $464.12 dinner bill last night. No regrets.
Replies: 78
Views: 10675

Re: $464.12 dinner bill last night. No regrets.

Yes, amazing story and thanks for sharing. We have helped a number of our nieces/nephews in a similar way. Not to mention our own daughter. I can't think of a better way to use one's funds. You are very lucky to have such family. Hopefully one day you can "pass it forward". I always say re...

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