Search found 2103 matches

by hoops777
Mon Feb 19, 2018 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: What has been your most important skill in achieving financial independence?
Replies: 164
Views: 10588

Re: What has been your most important skill in achieving financial independence?

To say that success is 95 pct luck is actually demeaning to people who have worked very hard to achieve success.There is usually some luck involved with almost anything accomplished but 95 pct......ridiculous. I also wonder how worthwhile it is to achieve financial independence by living a Spartan l...
by hoops777
Sun Feb 18, 2018 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: SS Spousal benefit thank you
Replies: 2
Views: 466

Re: SS Spousal benefit thank you

To be honest,I see no reason why they allow this with SS in trouble.It makes no sense to me,but I will take it if they are offering.It does make up for some other stuff :D
by hoops777
Sun Feb 18, 2018 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: SS Spousal benefit thank you
Replies: 2
Views: 466

SS Spousal benefit thank you

Thanks to this forum,I applied for spousal benefits at 66 that I thought had been discontinued.Everything was just approved with no problems.The extra income for the next 4 years is a big help along with deciding it was best for my wife to start
her SS now at 68 as well.Thanks to all who helped :D
by hoops777
Sun Feb 18, 2018 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: What has been your most important skill in achieving financial independence?
Replies: 164
Views: 10588

Re: What has been your most important skill in achieving financial independence?

Starting my own business at 42,being successful and saving money.Never ever thought it would happen.
by hoops777
Sun Feb 18, 2018 7:19 pm
Forum: Investing - Theory, News & General
Topic: Target Retirement Fund Question
Replies: 20
Views: 1501

Re: Target Retirement Fund Question

The problem with your question is that nobody can predict the future.As unlikely as it sounds,Vanguard may not even be here in 2060.I am 66 and setting up a plan for my RMD’s in 4 years and am thinking about all the things that could happen in that short span.Huge market crash,war,health issues,Warr...
by hoops777
Sat Feb 17, 2018 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Number at which to stop worrying
Replies: 170
Views: 16725

Re: Number at which to stop worrying

I just read this article yesterday. It claims that peak happiness in Americans occurs at an income of about $105,000 per year. So if we assume a somewhat conservative 3.5% withdrawal rate, that would be $3,000,000. Which seems about in line with my experience! https://www.realclearscience.com/artic...
by hoops777
Sat Feb 17, 2018 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Number at which to stop worrying
Replies: 170
Views: 16725

Re: Number at which to stop worrying

DrGoogle2017 wrote:
Sat Feb 17, 2018 1:10 pm
I think between $10million-$20million should ease your worrying. But there are other worries pop up with a lot of money too.
Somehow,I do not really understand how considering the dire circumstances,everything will be ok.I know it is tough but just have faith. :confused :moneybag
by hoops777
Sat Feb 17, 2018 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Number at which to stop worrying
Replies: 170
Views: 16725

Re: Number at which to stop worrying

Reading threads like this makes me think about how the rest survive. The numbers people throw around here are simply unattainable (if not ludicrous) for the absolutely vast majority of people in the developed world. I am not questioning the numbers perse, there is obviously lots of logic etc. behin...
by hoops777
Fri Feb 16, 2018 6:16 pm
Forum: Personal Consumer Issues
Topic: Wheel alignment new tires
Replies: 15
Views: 673

Re: Wheel alignment new tires

The tires on the i3 are like bicycle tires compared to normal tires.The normal wear is about 18 to 20,000 for the rear..The front ones last a lot longer.It is an electric vehicle in case that makes any difference.
by hoops777
Fri Feb 16, 2018 3:26 pm
Forum: Personal Consumer Issues
Topic: Wheel alignment new tires
Replies: 15
Views: 673

Wheel alignment new tires

We just had to replace the two rear tires on our BMWi3.It has very narrow tires and the rears normally last 18 to 20,000 miles.Question....should you always get a wheel alignment in this situation?The front tires on this model are actually a slightly different size than the rear.The car is 3 1/2 yea...
by hoops777
Fri Feb 16, 2018 2:33 pm
Forum: Investing - Theory, News & General
Topic: I bonds instead of Total bond in a 3-fund portfolio?
Replies: 9
Views: 1256

Re: I bonds instead of Total bond in a 3-fund portfolio?

We are using Ibonds as our emergency fund for later in retirement.They will in all likelihood become an inheritance.
by hoops777
Fri Feb 16, 2018 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Number at which to stop worrying
Replies: 170
Views: 16725

Re: Number at which to stop worrying

I don't know, maybe I'd slow down at $20 million. Probably not though. To me financial freedom means you can do whatever you want whenever you want without worrying about money. My aspirations of retirement aren't being able to buy a used truck, stay at the Holiday Inn, and take a Royal Caribbean c...
by hoops777
Wed Feb 14, 2018 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Number at which to stop worrying
Replies: 170
Views: 16725

Re: Number at which to stop worrying

I stopped worrying when I realized that SS will cover all of our basic living expenses and we could live exactly the way we want,leave a nice inheritance to our kids,without even owning a stock,if that is our choice.
by hoops777
Wed Feb 14, 2018 6:01 pm
Forum: Investing - Theory, News & General
Topic: What if you only live off dividends?
Replies: 95
Views: 8051

Re: What if you only live off dividends?

It is very obvious that one can easily live off of just dividends or interest or both,combined with SS and any other pension if you have one.It simply depends on what your spending is and how much money you have invested.No need to make an issue out of what is common sense.
by hoops777
Sun Feb 11, 2018 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 245
Views: 15762

Re: free dinner investing seminar

Having no interest in hearing a sales pitch while I am eating dinner with my spouse, I never considered this. Since you've mentioned this twice now, I feel compelled to clarify. The very nice meal I attended recently had the following agenda: a) Arrive fifteen minutes early and be seated. Waitress ...
by hoops777
Sun Feb 11, 2018 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 245
Views: 15762

Re: free dinner investing seminar

A restaurant meal is not just food. You really go to a reataurant to have company of friends, a cook and someone to clean up. You would be there to listen to a pitch, not chat with friends. You are not really getting the restaurant meal value. Cook at home or take in from same restaurant and invite...
by hoops777
Sun Feb 11, 2018 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 245
Views: 15762

Re: free dinner investing seminar

Having no interest in hearing a sales pitch while I am eating dinner with my spouse, I never considered this. Thinking it over, my obligations to behave honestly are not negated by dishonorable behavior by a counterparty. If I think someone is trying to cheat me the appropriate response is to avoid...
by hoops777
Sat Feb 10, 2018 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 245
Views: 15762

Re: free dinner investing seminar

If you want some idea of what to expect then check out this link... http://www.wealthmanagement.com/forums/prospecting-marketing-and-selling/successful-seminars This is a link to the forum for Registered Reps. Basically the Boglehead's nemesis. As you will see, if you attend and don't buy then you ...
by hoops777
Sat Feb 10, 2018 7:58 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 245
Views: 15762

Re: free dinner investing seminar

If you want some idea of what to expect then check out this link... http://www.wealthmanagement.com/forums/prospecting-marketing-and-selling/successful-seminars This is a link to the forum for Registered Reps. Basically the Boglehead's nemesis. As you will see, if you attend and don't buy then you ...
by hoops777
Sat Feb 10, 2018 7:05 pm
Forum: Personal Consumer Issues
Topic: T-Mobile promotion for 55+
Replies: 92
Views: 10717

Re: T-Mobile promotion for 55+

This is the best deal out there from any of the major carriers for anyone.Including taxes is the icing on the cake.It is nice to not have to even think about your data usage anymore.
by hoops777
Sat Feb 10, 2018 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 245
Views: 15762

Re: free dinner investing seminar

There’s no free dinner. We have been to about 5 of these and of course they are free unless listening is too painful for you.You just have to listen to their presentation which can be interesting.Sometimes you learn something and most of the time you see through the bs if that is what it is.We only...
by hoops777
Sun Feb 04, 2018 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Opening an LLC for investing: tax advantages?
Replies: 12
Views: 1363

Re: Opening an LLC for investing: tax advantages?

This is just so wrong on soooo many levels but at least it helps you understand why we have so many problems. :annoyed
by hoops777
Sat Feb 03, 2018 10:17 pm
Forum: Personal Finance (Not Investing)
Topic: Opening an LLC for investing: tax advantages?
Replies: 12
Views: 1363

Re: Opening an LLC for investing: tax advantages?

So your personal savings and investments qualify as a business?I know nothing about it but it sounds ridiculous and to think that one penny would qualify as a pass-through deduction is more ridiculous.As a former real business owner it really actually is extremely irritating to think this could pos...
by hoops777
Sat Feb 03, 2018 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: Opening an LLC for investing: tax advantages?
Replies: 12
Views: 1363

Re: Opening an LLC for investing: tax advantages?

So your personal savings and investments qualify as a business?I know nothing about it but it sounds ridiculous and to think that one penny would qualify as a pass-through deduction is more ridiculous.As a former real business owner it really actually is extremely irritating to think this could pos...
by hoops777
Sat Feb 03, 2018 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Opening an LLC for investing: tax advantages?
Replies: 12
Views: 1363

Re: Opening an LLC for investing: tax advantages?

Hi All, First time poster here, though a long time fervent reader of this forum. I've seen a few post of the internet about opening an LLC ( more specifically an S corporation) to hold a family's taxable investment account. Under the current administration business-friendly tax structure, I was won...
by hoops777
Sun Jan 28, 2018 1:16 am
Forum: Investing - Theory, News & General
Topic: How do you know much retirement income is needed?
Replies: 53
Views: 3772

Re: How do you know much retirement income is needed?

It is really not as difficult as you are making it out to be. What you spent while working and all the complicated stuff you were throwing in is meaningless.Figure out what your expenses are in RETIREMENT and get a number then figure it out.SS Plus 2500 a month from investments or whatever and add i...
by hoops777
Sat Jan 27, 2018 2:17 pm
Forum: Investing - Theory, News & General
Topic: How do you know much retirement income is needed?
Replies: 53
Views: 3772

Re: How do you know much retirement income is needed?

Common sense,some basic math and a realistic outlook.
by hoops777
Sat Jan 27, 2018 2:59 am
Forum: Personal Finance (Not Investing)
Topic: Stats on When People Take Social Security
Replies: 197
Views: 14368

Re: Stats on When People Take Social Security

...Saying that SS will not be fully funded is fine but suggesting that you may know what the remedy is and taking that to mean that it favors an early election of SS would IMHO be more of a stretch than guessing on future stock market returns. I did not say I "may know what the remedy is". But I do...
by hoops777
Tue Jan 23, 2018 2:00 pm
Forum: Investing - Theory, News & General
Topic: Why hold total bond market fund when 7 year CDs yield more?
Replies: 21
Views: 2615

Re: Why hold total bond market fund when 7 year CDs yield more?

I buy CDs when they are a good deal simply because I want to know exactly what I have.My largest investment is a 10 year CD I bought about 4 years ago at 3.4 pct.I also have bond funds.I like the mix of both with the certainty of the CD return.
by hoops777
Sun Jan 21, 2018 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Can We Retire in Hawaii? Please Critique
Replies: 146
Views: 13501

Re: Can We Retire in Hawaii? Please Critique

So why do you need to spend 800,000 on a house?You can get a nice place for a lot less than that on the big island.
by hoops777
Tue Jan 16, 2018 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Stats on When People Take Social Security
Replies: 197
Views: 14368

Re: Stats on When People Take Social Security

What I do not understand is why they allow file and suspend.They are running out of money but they choose to give free money to probably mostly wealthier people who use it for play money. File and Suspend went away May 1st 2016. You maybe thinking of restricting your application to spousal benefits...
by hoops777
Tue Jan 16, 2018 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Stats on When People Take Social Security
Replies: 197
Views: 14368

Re: Stats on When People Take Social Security

What I do not understand is why they allow file and suspend.They are running out of money but they choose to give free money to probably mostly wealthier people who use it for play money.
by hoops777
Mon Jan 15, 2018 12:48 pm
Forum: Investing - Theory, News & General
Topic: I can't believe I am thinking this [Panic and Survival 2008-09]
Replies: 249
Views: 77518

Re: I can't believe I am thinking this [Panic and Survival 2008-09]

If I had been on this forum in 2008 and seen this thread I would have a lot more money than I do today.
by hoops777
Sun Jan 14, 2018 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1539

Re: Trustee vs POA

Hoops 777, I have read your various posts about caring for your brother. As one who has likewise had responsibility for my own completely disabled, brain-injured brother for the last four years, I want to pitch in some moral support. The bureaucracies and personal dynamics you are navigating are in...
by hoops777
Sun Jan 14, 2018 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1539

Re: Trustee vs POA

Thank you for your replies.I guess I was hoping for some magical answer that does not exist in reality.I posted this on a whim without doing enough research first.It is obvious now that being trustee is probably worse than having POA and now it appears I am destined to assume both. I know what I nee...
by hoops777
Sat Jan 13, 2018 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1539

Re: Executor vs POA

I am now thinking that I could be sued as a trustee just as easily as a POA by a caregiver who is injured helping my brother..... Anyone involved in anyway can be sued even if you are not a POA or a trustee. But as said previously, this would be unusual in your situation you describe. That said, a ...
by hoops777
Sat Jan 13, 2018 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1539

Re: Executor vs POA

David Jay wrote:
Sat Jan 13, 2018 6:53 pm
Executor and POA are mutually exclusive. You can only have POA for someone who is living and you can only be executor for someone who is dead.
I know I misspoke.I should have said trustee.
by hoops777
Sat Jan 13, 2018 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1539

Re: Executor vs POA

They are the crew that I would be inheriting and that my brother knows and wants.None of them are licensed or bonded and that is my issue if I am seen as responsible for continuing their employment.
by hoops777
Fri Jan 12, 2018 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1539

Re: Executor vs POA

I am now thinking that I could be sued as a trustee just as easily as a POA by a caregiver who is injured helping my brother.....
by hoops777
Fri Jan 12, 2018 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1539

Re: Executer vs POA

I believe you mean that you are "trustee" of the living trust. An executor is not appointed until somebody passes away. While a trustee does have powers as established by a trust, it may depend upon language within the POA document how much "power" the POA may have over assets that the grantor plac...
by hoops777
Fri Jan 12, 2018 8:41 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1539

Re: Executer vs POA

Ok.But If I sold the house would the proceeds go into the trust so I would have control over his living expenses instead of the POA?That would be all the money he has left.
by hoops777
Fri Jan 12, 2018 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee vs POA
Replies: 27
Views: 1539

Trustee vs POA

I have had a couple threads recently about taking care of my brother. My question is if I become trustee of his living trust and his home is in his trust,how does this play out. A friend/caregiver of his assumes POA. I can sell his house if in my brother’s best interest even if the friend with POA d...
by hoops777
Mon Jan 08, 2018 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: Lowball offer on a home
Replies: 82
Views: 7078

Re: Lowball offer on a home

Yes I think some people misinterpret me. I do like the house. But I’m not being emotional about it. If fixed up houses are worth $525k in that area then this house is worth $525k minus the upgrade costs. Let the owner reject it...there will be other homes when they come on the market. Home improvem...
by hoops777
Mon Jan 08, 2018 9:54 pm
Forum: Personal Finance (Not Investing)
Topic: Lowball offer on a home
Replies: 82
Views: 7078

Re: Lowball offer on a home

itstoomuch wrote:
Mon Jan 08, 2018 9:14 pm
BTW, we eventually sold at 27% below our beginning ask :happy .

We also bought a condo in August at 22% above ask :happy .
Will you represent me on my next home purchase :D :D :D
by hoops777
Mon Jan 08, 2018 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Lowball offer on a home
Replies: 82
Views: 7078

Re: Lowball offer on a home

Figure out what the house is worth to you and make an offer.The owner will be greedy and probably not rational.It certainly sounds like he overpriced his home by a good margin.I would make by best offer upfront.You have no way to know what other offers will be or how low the owner will go.
by hoops777
Mon Jan 08, 2018 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Can you ever win the game?
Replies: 50
Views: 5272

Re: Can you ever win the game?

I am your average Joe who thinks he made it. So, judging by that, it is possible. Part of having made it is an attitude. On these BH boards there is a lot of fear. Fear of a crash, medical unknowns, what age they may die thus outliving your money. If you subscribe to those fears, which are almost b...
by hoops777
Mon Jan 08, 2018 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: Can you ever win the game?
Replies: 50
Views: 5272

Re: Can you ever win the game?

The OP says reasonably......not 100 pct even if the world falls apart.I would say a very high pct of bogleheads answer yes to that question.Even me which is almost beyond belief :D
by hoops777
Mon Jan 08, 2018 11:18 am
Forum: Personal Consumer Issues
Topic: Hot Water Delay at faucet/shower far from water heater
Replies: 100
Views: 6666

Re: Hot Water Delay at faucet/shower far from water heater

We had a similar problem,not quite so long for the water to get hot.A plumber friend told me turn the hot water on for a couple seconds and turn it off and then wait a bit.The water will get hot much faster because the hot water was activated or something like that.It did actually help cut the time ...
by hoops777
Sun Jan 07, 2018 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: POA and Legal liability
Replies: 35
Views: 1424

Re: POA and Legal liability

Thank you so much for all the replies. A reverse mortgage would not work. I am strongly leaning toward convincing him to leave his home.He will run out of money very quickly if he stays,especially if I have to get more insurance and deal with all of the payroll stuff that I am sure he is not paying ...
by hoops777
Sun Jan 07, 2018 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: Selling home to realtor friend discount math problem
Replies: 15
Views: 986

Re: Selling home to realtor friend discount math problem

Thank you for the replies. I have contacted a realtor who is the neighborhood expert who actually sold my brother this house and his previous house.He is the one who gave me the price of 825 to 850 with a possibility of more in a multiple offer scenario which is what will happen.The local inventory ...