Search found 104 matches

by jlcnuke
Thu Apr 27, 2017 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Refinance or sell?
Replies: 6
Views: 397

Re: Refinance or sell?

Can you get a no-cost refi? If yes, then refinance now would likely be a good idea.
by jlcnuke
Tue Apr 25, 2017 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Where did you buy your Long Term Disability Insurance ?
Replies: 29
Views: 1585

Re: Where did you buy your Long Term Disability Insurance ?

pintail07 wrote:Ther is a reason there is such a huge difference in premiums, benefits and risk of claims.


Pooled risk of thousands of employees is also significantly different than the risk of a single individual and that change in risk has a significant impact on pricing.
by jlcnuke
Tue Apr 25, 2017 7:11 am
Forum: Personal Consumer Issues
Topic: New job and offer - recruiter sent a wrong $$
Replies: 43
Views: 4788

Re: New job and offer - recruiter sent a wrong $$

Are you willing to get shafted on your compensation just to change employers? If yes, take the job as is since that would indicate that you're completely miserable where you currently are. However, if you're just in the "I'd rather work elsewhere" frame of mind, this is a recruiter and pot...
by jlcnuke
Tue Apr 25, 2017 7:01 am
Forum: Personal Finance (Not Investing)
Topic: Helping adult children
Replies: 68
Views: 5983

Re: Helping adult children

I'd love to hear comments from folks who may be in a similar situation. Do you feel it's necessary to let Son 2 specifics as to how you are helping Son 1's family. Is it really any of his business while we are still alive? Fair is fair, irrespective of what one needs. I see no health- or safety-rel...
by jlcnuke
Mon Apr 24, 2017 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Where did you buy your Long Term Disability Insurance ?
Replies: 29
Views: 1585

Re: Where did you buy your Long Term Disability Insurance ?

wow, then i will surely get a individual DI vs my AT&T group My agent called me and said plan on 3% of the salary, i make 100K, so he said 3K ie 250$/month - How does this sound? Name is the company is Standard I pay $280/year currently on my employer plan. That insures 60% of my $113k gross sa...
by jlcnuke
Mon Apr 24, 2017 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Where did you buy your Long Term Disability Insurance ?
Replies: 29
Views: 1585

Re: Where did you buy your Long Term Disability Insurance ?

It's worked great for both people I know who have used it so far.. Small sample size. I can probably think of 10 things off the top of my head that make it inferior to an individually-purchased DI policy. It's better than having nothing though. What are the 10 things then? Educate me. 1. Premiums a...
by jlcnuke
Mon Apr 24, 2017 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: First Mortgage, need help with financial considerations (15 vs. 30 year)
Replies: 24
Views: 1899

Re: First Mortgage, need help with financial considerations (15 vs. 30 year)

I agree, those closing costs are ridiculously high. I'd expect them to be $4-5k on a house of that price. As for the mortgage time, if you wouldn't be able to afford the 15 years on one salary, I'd stick to the 30 year knowing there are medical conditions which might necessitate a single salary inco...
by jlcnuke
Mon Apr 24, 2017 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Where did you buy your Long Term Disability Insurance ?
Replies: 29
Views: 1585

Re: Where did you buy your Long Term Disability Insurance ?

BruDude wrote:
jlcnuke wrote:It's worked great for both people I know who have used it so far..


Small sample size. I can probably think of 10 things off the top of my head that make it inferior to an individually-purchased DI policy. It's better than having nothing though.


What are the 10 things then? Educate me.
by jlcnuke
Mon Apr 24, 2017 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Where did you buy your Long Term Disability Insurance ?
Replies: 29
Views: 1585

Re: Where did you buy your Long Term Disability Insurance ?

It's worked great for both people I know who have used it so far..
by jlcnuke
Mon Apr 24, 2017 11:07 am
Forum: Personal Consumer Issues
Topic: Cost of Estate Planning
Replies: 17
Views: 1679

Re: Cost of Estate Planning

My will, living will, financial power of attorney, and medical power of attorneys were a flat fee of $500. My trust was a flat fee of $500 as well. I liked the flat fee approach he used as I imagine that the hourly rate would be exorbitant to me knowing that much of it was "fill-in-the-blank&qu...
by jlcnuke
Mon Apr 24, 2017 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Where did you buy your Long Term Disability Insurance ?
Replies: 29
Views: 1585

Re: Where did you buy your Long Term Disability Insurance ?

My long-term disability insurance through my employer is quite adequate, so I didn't buy any outside of that. 60% of the previous year's gross salary should be quite adequate for me in the event I need it. As I pay 100% of the premium, the entire amount of any disability insurance payments would be...
by jlcnuke
Mon Apr 24, 2017 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 169
Views: 17905

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

Sorry, but I'm going to have to disagree with you here. If I have enough money to support myself for life without working, then by definition I am self-supporting. Working for the sake of working is a waste. Earning money just to have more money is a waste. For the overwhelming majority of people i...
by jlcnuke
Mon Apr 24, 2017 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Where did you buy your Long Term Disability Insurance ?
Replies: 29
Views: 1585

Re: Where did you buy your Long Term Disability Insurance ?

My long-term disability insurance through my employer is quite adequate, so I didn't buy any outside of that. 60% of the previous year's gross salary should be quite adequate for me in the event I need it. As I pay 100% of the premium, the entire amount of any disability insurance payments would be ...
by jlcnuke
Mon Apr 24, 2017 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 169
Views: 17905

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

Saving money is good in and of itself. There may be a bit of a schism on this topic, because I don't agree with that or other intimations on this thread that there's a moral aspect to this. Acquiring tools and options is good, and money provides that. But there's nothing inherently virtuous in savi...
by jlcnuke
Sun Apr 23, 2017 4:03 pm
Forum: Personal Consumer Issues
Topic: Hotel Living
Replies: 20
Views: 3132

Re: Hotel Living

Regarding one of the downsides of hotel life - food. If you're going to spend a significant period of time on the road, and you have room, a small grill or propane stove can do wonders towards improving what you can have at a given price-level. My brother has spent years on the road and takes a smal...
by jlcnuke
Sun Apr 23, 2017 2:12 pm
Forum: Personal Consumer Issues
Topic: If you are financially independent, how much monywould you bother to make?
Replies: 31
Views: 3449

Re: If you are financially independent, how much monywould you bother to make?

If I had anything better to do? None.

If I was very very bored - the $200.
by jlcnuke
Fri Apr 21, 2017 12:49 pm
Forum: Personal Consumer Issues
Topic: basement shower options
Replies: 18
Views: 805

Re: basement shower options

Nicer pre-fab 3/4 shower kits will run you around $1k. Cheaper ones can be had for closer to $300. Installation for either isn't really that hard if someone else does the plumbing work. Here's a nicer model for reference http://www.homedepot.com/p/DreamLine-Prime-38-in-x-38-in-x-76-75-in-Corner-Fra...
by jlcnuke
Fri Apr 21, 2017 12:10 pm
Forum: Personal Consumer Issues
Topic: basement shower options
Replies: 18
Views: 805

Re: basement shower options

Nicer pre-fab 3/4 shower kits will run you around $1k. Cheaper ones can be had for closer to $300. Installation for either isn't really that hard if someone else does the plumbing work. Here's a nicer model for reference http://www.homedepot.com/p/DreamLine-Prime-38-in-x-38-in-x-76-75-in-Corner-Fram...
by jlcnuke
Fri Apr 21, 2017 8:47 am
Forum: Personal Finance (Not Investing)
Topic: Switching Insurance Companies - How painful is it?
Replies: 6
Views: 547

Re: Switching Insurance Companies - How painful is it?

Some companies require you to have everything insured with them to get an umbrella policy through them. I think USAA is one such company. Some, like Geico, do not. I comparison shop for insurance at least every couple years as after 2-3 years another company has generally provided me with lower rate...
by jlcnuke
Fri Apr 21, 2017 8:41 am
Forum: Personal Consumer Issues
Topic: How much to pay a housekeeper?
Replies: 23
Views: 2648

Re: How much to pay a housekeeper?

16 hours of cleaning per week? Dang..
by jlcnuke
Thu Apr 20, 2017 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: When does it make sense to start paying down (or off) a low rate mortgage?
Replies: 53
Views: 4905

Re: When does it make sense to start paying down (or off) a low rate mortgage?

5) When peace of mind from being debt free is valued by you more than the potential higher returns you may generate by investing the money instead.
by jlcnuke
Thu Apr 20, 2017 11:36 am
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4833

Re: Did I make a good decision to retire July 2017 instead of July 2018?

Without knowing your expenses, there's no way to determine if you're financially set to retire. If your annual spending is $100k/year, then you're likely in trouble. If your annual spending is $30k/year, then you're likely able to increase your lifestyle in retirement. I'm guessing you're actually ...
by jlcnuke
Thu Apr 20, 2017 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4833

Re: Did I make a good decision to retire July 2017 instead of July 2018?

Without knowing your expenses, there's no way to determine if you're financially set to retire. If your annual spending is $100k/year, then you're likely in trouble. If your annual spending is $30k/year, then you're likely able to increase your lifestyle in retirement. I'm guessing you're actually s...
by jlcnuke
Thu Apr 20, 2017 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Recast vs. Investing vs. ??
Replies: 14
Views: 1115

Re: Mortgage Recast vs. Investing vs. ??

Sorry if I wasn't clear. What I'm trying to figure out is what is the best use of $100,000? Should I: A. Recast my mortgage (balance reduction from $194k to $94k @ 3.875%, 30yrs). - Not only will this lower my principle, but also my monthly payments by $500. I could potentially use that $500 to pay...
by jlcnuke
Thu Apr 20, 2017 9:45 am
Forum: Investing - Help with Personal Investments
Topic: Annual finance check up
Replies: 4
Views: 619

Re: Annual finance check up

I find that my financial plan is already detailed enough that I can evaluate my situation without paying someone to help me do so. Annually I: 1. Review past year spending. I use CC's for 99% of my spending so I can track pretty much everything I spent by downloading that information, as well as usi...
by jlcnuke
Thu Apr 20, 2017 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Why never speak badly about boss? [Need Bogleheads' wisdom]
Replies: 114
Views: 10171

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

Folks, Sometimes, the quickest way to get rid of a bad boss is to let things blow up. If you patch those small holes, the bad boss will be around longer. "Let it be". KlangFool Sometimes when things blow up, collateral damage ensues and it's not just the person who was incompetent that su...
by jlcnuke
Thu Apr 20, 2017 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Recast vs. Investing vs. ??
Replies: 14
Views: 1115

Re: Mortgage Recast vs. Investing vs. ??

I don't think we have enough information to really give you a great answer. However, I did notice something that doesn't look right to me. You said: If I made a lump sum payment of $100k towards my principle, my mortgage would be reduced by $500/mo Unless you refinance the loan, the monthly payment...
by jlcnuke
Thu Apr 20, 2017 7:11 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Recast vs. Investing vs. ??
Replies: 14
Views: 1115

Re: Mortgage Recast vs. Investing vs. ??

I don't think we have enough information to really give you a great answer. However, I did notice something that doesn't look right to me. You said: If I made a lump sum payment of $100k towards my principle, my mortgage would be reduced by $500/mo Unless you refinance the loan, the monthly payment ...
by jlcnuke
Thu Apr 20, 2017 6:57 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford to purchase this new house?
Replies: 13
Views: 1293

Re: Can we afford to purchase this new house?

I believe we can afford to purchase this home by putting 20% in down payment. But doing so will certainly decrease our savings, ongoing savings rate, and will be paying a lot in mortgage interest. If it requires that you take from your emergency savings, then you don't have enough money to put down...
by jlcnuke
Thu Apr 20, 2017 6:48 am
Forum: Personal Consumer Issues
Topic: Is my electric bill high?
Replies: 60
Views: 5231

Re: Is my electric bill high?

I'm in Southern California, in a 2500 sq. ft. house. Just the electricity part of my utility bill averages 1500 kWh/month which is about $300. It's always seemed high to me but I have no basis for comparison. Would love to hear usage and charges/month from other members! Added detail: I have a pool...
by jlcnuke
Wed Apr 19, 2017 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Financial health checkup
Replies: 2
Views: 377

Re: Financial health checkup

To be honest, it seems to me that you've got a ways to go yet financially, but you seem to be working your way there. I say that because you're making $160k/year (plus $400/month from the rental) and are only saving 6% ($14.4k) of that for retirement (well below the 10-15% most financial advisors wo...
by jlcnuke
Wed Apr 19, 2017 9:48 am
Forum: Personal Finance (Not Investing)
Topic: To refinance or not?
Replies: 11
Views: 877

Re: To refinance or not?

Are you going to pay the house off in 7 years? If not, my assumption would be that 7 years from now you'd be wishing you could see a 4% rate again... and quite possibly get stuck with a new rate that costs a lot more in the long run than the $24.5k you might save between now and then. If you will pa...
by jlcnuke
Wed Apr 19, 2017 9:45 am
Forum: Investing - Help with Personal Investments
Topic: Should I bother with a 401k at present?
Replies: 25
Views: 2032

Re: Should I bother with a 401k at present?

Assuming you can afford it (i.e. will not cause more debt by diverting the money there), I'd recommend putting enough in the 401k to at least get the full employer match at 50 cents on the dollar.
by jlcnuke
Wed Apr 19, 2017 7:19 am
Forum: Personal Finance (Not Investing)
Topic: What kind of stuff would you never DIY, assuming you could?
Replies: 75
Views: 5784

Re: What kind of stuff would you never DIY, assuming you could?

category 1 - Stuff that requires working at heights. I wasn't scared of heights when I was younger, but I'd prefer to avoid places I could reasonably worry I might fall to my death now that I'm older. category 2 - Stuff that requires skills I don't have and can't reasonably acquire in a time and cos...
by jlcnuke
Wed Apr 19, 2017 5:41 am
Forum: Personal Finance (Not Investing)
Topic: Worth It Or Not? [to Retire]
Replies: 23
Views: 3406

Re: Worth It Or Not? [to Retire]

Even "out of the classroom" work is going to be work. You said you'd be locked into another year of work if you want to stay. Is that year of good health something you want to give up for $167/month? If it were me, and I didn't * need * that extra $167/month, I'd be done now and enjoy the ...
by jlcnuke
Mon Apr 17, 2017 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: New car...finance or not?
Replies: 17
Views: 1383

Re: New car...finance or not?

IF the money to pay for the car would come from liquidating equity investments, then I prefer to just take out a loan when rates are very low. My risk tolerance may be different than yours however.
by jlcnuke
Mon Apr 17, 2017 10:27 am
Forum: Investing - Help with Personal Investments
Topic: How much money do you need to generate $50,000 per month?
Replies: 60
Views: 7487

Re: How much money do you need to generate $50,000 per month?

$50K/mo = $600K/yr. Using the standard 4% rule, you would need a portfolio of $15M to "likely" never run out. The 4% rule is based on not running out of money in a 30 year period. For periods longer than 30 years, a lower withdrawal rate is necessary to come to the same conclusion. 2.5-3%...
by jlcnuke
Mon Apr 17, 2017 10:18 am
Forum: Investing - Help with Personal Investments
Topic: How much money do you need to generate $50,000 per month?
Replies: 60
Views: 7487

Re: How much money do you need to generate $50,000 per month?

8-12 million for an apartment high rise building in Honolulu, Hawaii will generate far north of $50,000 / month. No leveraging. No mortgage. Tax breaks. Appreciative value. Etc. That is 1 example. Please explain how does that work. My guess is that your example assumes I buy this apartment for $10M...
by jlcnuke
Mon Apr 17, 2017 9:58 am
Forum: Investing - Help with Personal Investments
Topic: How much money do you need to generate $50,000 per month?
Replies: 60
Views: 7487

Re: How much money do you need to generate $50,000 per month?

$50K/mo = $600K/yr. Using the standard 4% rule, you would need a portfolio of $15M to "likely" never run out. The 4% rule is based on not running out of money in a 30 year period. For periods longer than 30 years, a lower withdrawal rate is necessary to come to the same conclusion. 2.5-3%...
by jlcnuke
Mon Apr 17, 2017 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Quick Soc. Sec Estimate Question
Replies: 7
Views: 488

Re: Quick Soc. Sec Estimate Question

There is a full calculator you can download from SS that will let you enter your projected earnings (zero for years in ER) going forward and get it to calculate what the expected SS for that scenario would be. The calculator can be found here https://www.ssa.gov/OACT/anypia/anypia.html When I did mi...
by jlcnuke
Mon Apr 17, 2017 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Would you ever rent a house to a family member?
Replies: 21
Views: 1336

Re: Would you ever rent a house to a family member?

I bought the house my parents live in for their retirement. I'm paying off my retirement home now, while they get to live there without worrying about paying rent or a mortgage in their retirement. This makes their SS and other retirement income go a bit further towards increasing their quality of l...
by jlcnuke
Mon Apr 17, 2017 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Dissect my plan
Replies: 10
Views: 424

Re: Dissect my plan

I know you said "income phased out of IRAs" but have you considered backdoor Roths? Personally, in your situation I'd be trying to get rid of the student loan payments and then rolling those monthly payments into something else (paying off home loans or investments, depending on personal p...
by jlcnuke
Mon Apr 17, 2017 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Scratched bumper cost to repair
Replies: 17
Views: 1244

Re: Scratched bumper cost to repair

Estimates for my front bumper (scratched on one side) were right at the same $800. Side door (including blending front and rear doors) was also ~$800. The bumper cost also includes taking apart and reassembling the bumper (needs everything off for the paint job) which was more involved than the doors.
by jlcnuke
Mon Apr 17, 2017 7:15 am
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 129
Views: 12040

Re: Do you have an umbrella policy?

Yes. $1M for $134/year currently.
by jlcnuke
Mon Apr 17, 2017 6:59 am
Forum: Personal Finance (Not Investing)
Topic: Is spending 15K to furnish home too much?
Replies: 39
Views: 4431

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

You can spend much less than $15k if you want to. However, you'll likely have either used items furnishing your house or furniture made of particle board etc that is likely to need replaced in a decade. Conversely, you can buy quality furniture made of real wood than could last you a lifetime. That ...
by jlcnuke
Fri Apr 14, 2017 9:36 am
Forum: Personal Finance (Not Investing)
Topic: HSA as Part of Emergency Fund
Replies: 20
Views: 1504

Re: HSA as Part of Emergency Fund

I don't consider it part of my EF. As my normal monthly expenses wouldn't be qualified withdrawals I wouldn't use my HSA to pay my bills if I lost my job for instance. Since that scenario ,and many other potential emergency situations, wouldn't be "good" times to withdraw from the HSA I do...
by jlcnuke
Fri Apr 14, 2017 8:06 am
Forum: Personal Finance (Not Investing)
Topic: Age when you started to max out your retirement accounts?
Replies: 177
Views: 24639

Re: Age when you started to max out your retirement accounts?

I was 35 when I first maxed out my 401k.
by jlcnuke
Fri Apr 14, 2017 8:04 am
Forum: Personal Finance (Not Investing)
Topic: What constitutes "a lot" of money?
Replies: 81
Views: 11005

Re: What constitutes "a lot" of money?

If you have $1M, that can generate ~$40k/year of income using "basic" assumptions. To me, that $40k/year is the number that matters when considering how much would be considered "a lot" relative to a purchase. The amount needed to be considered "a lot" for a purchase to...
by jlcnuke
Thu Apr 13, 2017 11:10 am
Forum: Personal Finance (Not Investing)
Topic: When need and want take different paths.......
Replies: 30
Views: 2256

Re: When need and want take different paths.......

I don't anticipate approaching my money much differently in retirement than I do now. 1. I pay myself first (savings and investments) to the amount that I plan for (now that is a substantial percentage of my income, in retirement it should drop to zero). 2. I pay my bills next (all recurring bills a...
by jlcnuke
Wed Apr 12, 2017 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: Legality of renters posting reviews of a condominium complex?
Replies: 82
Views: 3494

Re: Legality of renters posting reviews of a condominium complex?

This is an interesting question. I believe I found the relevant passage: Congress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof, or abridging the freedom of speech or of the press, or the right of the people peaceably to assemble and to petition ...

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