Search found 538 matches

by SQRT
Sun Sep 03, 2017 7:15 am
Forum: Personal Consumer Issues
Topic: Driving a car [in] Italy, any suggestion?
Replies: 47
Views: 2936

Re: Driving a car [in] Italy, any suggestion?

Some good advice already posted. We bought and picked up a new car in Munich a while back and drove it through Austria and Northern Italy for a couple weeks. Had a blast. Didn't need an international license. When we brought it back to Munich to ship it home, the guy asked where we drove? When we sa...
by SQRT
Wed Aug 30, 2017 7:54 am
Forum: Personal Consumer Issues
Topic: Struggling with "Live like a Resident" versus "Keeping up with the Joneses"
Replies: 139
Views: 21818

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

I pulled up at a restaurant to have lunch with some old colleagues for dinner from an old company I used to work for. One of them saw me getting out of my Toyota and said "gee - with your title of xxxx over at company-yyyy I thought you'd be driving a Mercedes or something." I just said "I'm going ...
by SQRT
Tue Aug 29, 2017 10:33 am
Forum: Personal Consumer Issues
Topic: Struggling with "Live like a Resident" versus "Keeping up with the Joneses"
Replies: 139
Views: 21818

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

For me the things that have brought be the MOST happiness have to do with spending time with wife and children. So every decision I make is really based on maximizing that time. The only true answer is life is short and one day you will be dead so figure out what makes you happy and start doing it....
by SQRT
Tue Aug 29, 2017 7:50 am
Forum: Personal Consumer Issues
Topic: Struggling with "Live like a Resident" versus "Keeping up with the Joneses"
Replies: 139
Views: 21818

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

Wherever you are in life, no matter what your job is, there are always folks that look like they have more and certainly seem to have way more to spend. Some have huge income and still save a lot but most can't help but spend every penny they have and more going into debt despite a helfty salary. Y...
by SQRT
Sat Aug 26, 2017 1:10 pm
Forum: Personal Consumer Issues
Topic: Trip to Banff / Lake Louise / other places
Replies: 34
Views: 3408

Re: Trip to Banff / Lake Louise / other places

Communitea is a MUST eat place. Never heard of it and I live in Canmore? New place? Ok checked it out. Informal cafe. Maybe good for lunch or morning coffee. Couple of streets off the "main drag". Incredible lunch place. Great for families. Food is top notch. Ok might give it a try, although the pl...
by SQRT
Fri Aug 25, 2017 11:05 am
Forum: Personal Consumer Issues
Topic: Trip to Banff / Lake Louise / other places
Replies: 34
Views: 3408

Re: Trip to Banff / Lake Louise / other places

SQRT wrote:
Fri Aug 25, 2017 4:03 am
cantos wrote:
Thu Aug 24, 2017 12:01 am


Communitea is a MUST eat place.
Never heard of it and I live in Canmore? New place?
Ok checked it out. Informal cafe. Maybe good for lunch or morning coffee. Couple of streets off the "main drag".
by SQRT
Fri Aug 25, 2017 4:03 am
Forum: Personal Consumer Issues
Topic: Trip to Banff / Lake Louise / other places
Replies: 34
Views: 3408

Re: Trip to Banff / Lake Louise / other places

cantos wrote:
Thu Aug 24, 2017 12:01 am


Communitea is a MUST eat place.
Never heard of it and I live in Canmore? New place?
by SQRT
Thu Aug 24, 2017 6:53 am
Forum: Personal Finance (Not Investing)
Topic: Living Expenses - what's "reasonable"?
Replies: 101
Views: 8773

Re: Living Expenses - what's "reasonable"?

Reasonable expenses are relative to your income and savings. If you have $10,000,000 and are retired it's perfectly reasonable to have $30,000 of monthly expenses, regardless of what they're on... Remember what the OP asked: essential expenses vs leisure (discretionary) expenses. If you spend $30,0...
by SQRT
Wed Aug 23, 2017 9:48 am
Forum: Personal Consumer Issues
Topic: Trip to Banff / Lake Louise / other places
Replies: 34
Views: 3408

Re: Trip to Banff / Lake Louise / other places

Thanks for the good tips. I leave for Canada tomorrow and Canmore about 8 days later. Weather looks great but being in the mountains it is always variable. We were showing a friend some of the sights up around Lake Louise yesterday. Boy was it busy. No way to drive to the actual lake. Had to take a...
by SQRT
Tue Aug 22, 2017 4:32 pm
Forum: Personal Consumer Issues
Topic: Trip to Banff / Lake Louise / other places
Replies: 34
Views: 3408

Re: Trip to Banff / Lake Louise / other places

Hopefully it will be a little less busy when you arrive. Marble canyon has a lovely hiking path beside it that has wonderful wide open vistas because of a forest fire that passed through a decade or two ago. Another great place to visit is the Whyte Museum of the Canadian Rockies in Banff. It is an...
by SQRT
Mon Aug 21, 2017 9:45 am
Forum: Personal Consumer Issues
Topic: Trip to Banff / Lake Louise / other places
Replies: 34
Views: 3408

Re: Trip to Banff / Lake Louise / other places

In my opinion Marble Canyon is a better place to visit than Johnson Canyon, but to each their own. If you go to Mable Canyon have a meal at the rustic Storm Mountain Lodge. We live in Canmore, retiring here about 10 years ago. Wonderful town with a very young active population. We particularly like...
by SQRT
Sun Aug 20, 2017 6:21 pm
Forum: Personal Consumer Issues
Topic: Trip to Banff / Lake Louise / other places
Replies: 34
Views: 3408

Re: Trip to Banff / Lake Louise / other places

Looks like you already know what to do. I've vacationed in the area and I have family in British Columbia so I travel every year to the area. One of the things that I thought was worth the expense was to spring for the Fairmount hotels in Banff and Lake Louise. It made our trip so much memorable an...
by SQRT
Fri Aug 18, 2017 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: Percent of retirement expenses from fixed sources?
Replies: 16
Views: 1154

Re: Percent of retirement expenses from fixed sources?

My pension started out at about 60% of income but now about 45% since my divs have grown. Divs are growing by about 7% per year so the whole income is growing by about 4% per year. Well above inflation in Canada.
by SQRT
Fri Aug 18, 2017 9:29 am
Forum: Personal Finance (Not Investing)
Topic: How does one determine their "number" and what exactly does it mean?
Replies: 116
Views: 10792

Re: How does one determine their "number" and what exactly does it mean?

Some people don't have a number. I never did. I just retired when things stopped looking interesting. I probably could have retired much earlier but I just didn't pay any attention to the financial side until near the end. This was my experience as well. Just kept working and saving. One day I look...
by SQRT
Thu Aug 10, 2017 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Future Accountant Seeking Advice
Replies: 10
Views: 981

Re: Future Accountant Seeking Advice

I was a CPA and second the comment that it can be a great career choice. It was a way for me to enter a respected and relatively high paying profession when my family and friends were all "blue collar". I would agree that a big 4 firm is the way to go. Better support, training, opportunity. Also agr...
by SQRT
Wed Aug 02, 2017 7:03 am
Forum: Personal Finance (Not Investing)
Topic: Cabins - "investments" or "consumptive purchases"
Replies: 38
Views: 3031

Re: Cabins - "investments" or "consumptive purchases"

It's a toy says the owner of a cabin of 15 years. There have been plenty of threads about cabins/second homes. From a financial point of view you are better off investing the money you pay for a vacation home and using that money to pay for a two week vacation wherever you like. And if your wife is...
by SQRT
Tue Aug 01, 2017 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Denver or Portland for a 2nd home
Replies: 66
Views: 5212

Re: Denver or Portland for a 2nd home

We have multiple homes and enjoy them all. Only advice I would give is to make your second home as different from your other place as possible. We have mountains, lake, urban, and warm. Whole idea is to make it exciting to go to your other place, and being different makes it more likely to be excit...
by SQRT
Sun Jul 23, 2017 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Denver or Portland for a 2nd home
Replies: 66
Views: 5212

Re: Denver or Portland for a 2nd home

We have multiple homes and enjoy them all. Only advice I would give is to make your second home as different from your other place as possible. We have mountains, lake, urban, and warm. Whole idea is to make it exciting to go to your other place, and being different makes it more likely to be exciti...
by SQRT
Wed Jul 12, 2017 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Jewelry insurance. Is it ever worth it?
Replies: 42
Views: 4522

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: 12958

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: 2317

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: 1676

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: 4357

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: 13505

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: 13505

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: 91
Views: 9827

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: 3753

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: 2401

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: 10821

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: 5151

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: 10821

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: 10821

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: 2401

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: 10821

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: 14504

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: 11582

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: 10038

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: 10038

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: 10038

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: 1172

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: 1634

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: 1637

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: 8588

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: 20698

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: 9868

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. To each his own! Agree. Our Arizona house is in Paradise Valley but we have a lot of friends up nea...
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: 9868

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: 80
Views: 9253

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: 21912

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: 21912

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: 23259

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...