Search found 504 matches

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: 73
Views: 7638

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...
Replies: 78
Views: 9262

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

We have lots of real estate 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 estate cities like San Fran, V...
by SQRT
Tue May 23, 2017 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Net worth is overrated
Replies: 76
Views: 8631

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: 8631

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: 8631

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: 898

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: 1351

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: 1402

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: 7728

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: 215
Views: 17051

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: 8731

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: 8731

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: 8114

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: 19662

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: 19662

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: 22006

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: 19662

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: 19662

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: 19662

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: 12697

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: 3214

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: 4627

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: 2780

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: 11299

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: 11299

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: 11299

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: 11299

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: 4612

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: 11299

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: 1494

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: 3485

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: 21817

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: 1368

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: 10192

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...
by SQRT
Tue Mar 14, 2017 7:17 am
Forum: Personal Finance (Not Investing)
Topic: Scottsdale Real Estate Market
Replies: 9
Views: 1309

Re: Scottsdale Real Estate Market

I have lived in Scottsdale for 11 years . The price range of home you are looking at has stalled a bit recently , but I wouldn't be worried about a home losing value in a growing market . Phoenix and Scottsdale continue to grow and now would be a great time to get a deal . Interest rates will conti...
by SQRT
Mon Mar 13, 2017 9:14 am
Forum: Personal Finance (Not Investing)
Topic: How to get out of a concentrated stock option position?
Replies: 21
Views: 1734

Re: How to get out of a concentrated stock option position?

What type of company is it. Stable? High tech? Well established? Small cap? I also had significant option/DSU/RSU positions. Generally I held them as long as I could and it worked out very well. But my employer was a very large well established, very successful company. Would probably cash them out ...
by SQRT
Mon Mar 13, 2017 8:12 am
Forum: Personal Finance (Not Investing)
Topic: How Much in Your Emergency Fund And Is It Used?
Replies: 176
Views: 15636

Re: Emergency Funds: YMMV

The opportunity cost of keeping several months of expenses in a low-yielding savings account makes little sense, other than "peace of mind", once you hit a certain level of wealth. I get the impression that most on this board have surpassed that threshold. Probably. My point is simply tha...
by SQRT
Sun Mar 12, 2017 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: How Much in Your Emergency Fund And Is It Used?
Replies: 176
Views: 15636

Re: Emergency Funds: YMMV

I think folks decrying credit as a source of emergency funding are missing one key issue: overall funds availability. A poster put it well up the thread a bit: At a certain level of wealth, emergency funds become a cashflow management issue, not a sufficiency-of-funds issue. And that's maybe a conc...
by SQRT
Sat Mar 11, 2017 9:59 am
Forum: Personal Finance (Not Investing)
Topic: How Much in Your Emergency Fund And Is It Used?
Replies: 176
Views: 15636

Re: How Much in Your Emergency Fund And Is It Used?

Our sources of liquidity include: cash(about 6-12 months of expenses net of pensions), credit cards (around $200k in total limits), margin loans available( mid 7 figures). The only cost of this liquidity relates to the cash balances. I view the cash balances more as operating cash, ie available to s...
by SQRT
Sat Mar 11, 2017 2:08 am
Forum: Personal Finance (Not Investing)
Topic: Financial Independence: How many years of living expenses saved?
Replies: 23
Views: 3677

Re: Financial Independence: How many years of living expenses saved?

Also, many people set their spending in retirement to match what they think a SWR might be. Thus amount required to be saved is somewhat iterative.
by SQRT
Fri Mar 10, 2017 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Total Annual Expenses
Replies: 57
Views: 4192

Re: Total Annual Expenses

I view income taxes as an offset to income, ie they are a direct cost of earning the money. It's generally not something you can avoid or chose to spend. Many here would disagree with you on this. I would be one of them. I would agree that not everyone has the same ability to control how much tax t...
by SQRT
Fri Mar 10, 2017 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Total Annual Expenses
Replies: 57
Views: 4192

Re: Total Annual Expenses

Maybe someone can post their rationale explaining why they don't count taxes. YB I view income taxes as an offset to income, ie they are a direct cost of earning the money. It's generally not something you can avoid or chose to spend. Thus, I view my spending as an allocation of after tax income. O...
by SQRT
Fri Mar 10, 2017 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Total Annual Expenses
Replies: 57
Views: 4192

Re: Total Annual Expenses

Fail to see how this would be of use to anyone? I spend my pension and dividends. A fair bit more than $30k. Why not ask for net worth while you're at it? A poll would work better?
by SQRT
Mon Mar 06, 2017 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: How much do you spend on food in a year?
Replies: 155
Views: 7629

Re: How much do you spend on food in a year?

Actually, I apologize. The eating out budget was. $40k I got confused with the "cash" expense budget that includes our food/liquor which is $60k. Food/liquor might be a little more than the $20k I mentioned and good portion of that would be alcohol, we don't track food/liquor separately. ...
by SQRT
Mon Mar 06, 2017 11:41 am
Forum: Personal Finance (Not Investing)
Topic: How much do you spend on food in a year?
Replies: 155
Views: 7629

Re: How much do you spend on food in a year?

Eating out budget is $60,000 per year and purchased food/liquor about $20,000. We often pay for family and friends when eating out and entertain at home fairly often. No judgemental responses please. Enjoying ourselves. What is a typical dinner cooked at home for you and how much of the 20k is alco...
by SQRT
Mon Mar 06, 2017 10:47 am
Forum: Personal Finance (Not Investing)
Topic: How much do you spend on food in a year?
Replies: 155
Views: 7629

Re: How much do you spend on food in a year?

Eating out budget is $60,000 per year and purchased food/liquor about $20,000. We often pay for family and friends when eating out and entertain at home fairly often. No judgemental responses please. Enjoying ourselves.
by SQRT
Thu Mar 02, 2017 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: What Car Should I Buy My Daughter as a Graduation Present
Replies: 81
Views: 5449

Re: What Car Should I Buy My Daughter as a Graduation Present

We bought my daughter a new car for her 20th birthday present when she was in second year university. We felt she needed reliable transportation. Surprised her with it. She burst into tears. Was great. Got a 4 door sedan with AWD and snow tires. Never regretted it.
by SQRT
Wed Mar 01, 2017 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Second home or not ready
Replies: 56
Views: 4566

Re: Second home or not ready

Buying a second personal use property is really a lifestyle decision and you haven't given us enough information about your lifestyle and how you would use the property. We have multiple homes but they were all purchased without using mortgages. Seems to me that buying a second house with cash real...
by SQRT
Tue Feb 28, 2017 11:30 am
Forum: Personal Finance (Not Investing)
Topic: Second home or not ready
Replies: 56
Views: 4566

Re: Second home or not ready

Certainly a good idea to rent before you buy. Second homes can be a very enjoyable lifestyle. Your clothes in the closet, your car in the garage, decorated your way, putting down roots and making new friends. Total flexibility as to when you visit. Inviting friends and family to join you or lending ...
by SQRT
Tue Feb 28, 2017 3:32 am
Forum: Personal Finance (Not Investing)
Topic: Second home or not ready
Replies: 56
Views: 4566

Re: Second home or not ready

Buying a second personal use property is really a lifestyle decision and you haven't given us enough information about your lifestyle and how you would use the property. We have multiple homes but they were all purchased without using mortgages. Seems to me that buying a second house with cash reall...

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