Search found 69 matches

by skor99
Wed Sep 20, 2017 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Calling out the not so rich bogleheads
Replies: 186
Views: 18879

Re: Calling out the not so rich bogleheads

To all those posters who are trying to say that I was somehow trying to hide or downplay my financial status, I would ask to go through this thread and you will see that I have already mentioned in one of my posts that I feel fortunate to be in the two comma club. I did start off from zero, and the ...
by skor99
Tue Sep 19, 2017 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Calling out the not so rich bogleheads
Replies: 186
Views: 18879

Re: Calling out the not so rich bogleheads

Is it only me or are the non LBYM people hidden in plain sight ? Pretty much everybody I know at work or otherwise seems to be the responsible kind, saving and investing as much as they can. Sure, some people drive the expensive cars but I believe they have a net worth to match those cars. The most ...
by skor99
Tue Sep 19, 2017 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Calling out the not so rich bogleheads
Replies: 186
Views: 18879

Re: Calling out the not so rich bogleheads

Thanks to all for the responses. The basic intent was to bring out the silent ones who actually might be in the majority, but are too intimidated to speak up. I am fortunate enough to be in the two comma club now in my late 40s, but I started from zero in my 20s. I was putting myself in the place of...
by skor99
Mon Sep 18, 2017 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Calling out the not so rich bogleheads
Replies: 186
Views: 18879

Calling out the not so rich bogleheads

I have been an avid follower of this forum for quite some time now and would firstly like to say there's nothing quite like it anywhere on the web. It provides so much useful information on so many different things that I would rate it as one of the most useful websites as it pertains to investing a...
by skor99
Sun Sep 17, 2017 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Let's talk about your FI # and family income [Financial Independence]
Replies: 163
Views: 13855

Re: Let's talk about your FI # and family income

Shouldn't age be a big consideration as well ? $2MM sounds like a reasonable FI#, but it is much better to have $2 MM at age 65 than 45, if somebody wants to stop working at those ages. Quitting work at 45 would mean a much lower SWR , especially if you have teenage kids ready to go to college.
by skor99
Mon Sep 11, 2017 4:30 pm
Forum: Personal Consumer Issues
Topic: New/used compact car
Replies: 9
Views: 527

Re: New/used compact car

Overall price and safety are the most important factors for me. Civics are very good cars on those points as well, but having a little bit more fun in a compact car is not that high on my list. I did check the price of used corollas on carmax and other sites and am seeing prices Like 14K for a 2014 ...
by skor99
Mon Sep 11, 2017 2:53 pm
Forum: Personal Consumer Issues
Topic: New/used compact car
Replies: 9
Views: 527

Re: New/used compact car

I would agree with you if those features were cosmetic in nature, but in the corolla these are automatic braking/pedestrian detection, Lane change warning etc. Somebody I know told me that the automatic braking feature has saved him from an accident already that he would have been at fault, so not s...
by skor99
Mon Sep 11, 2017 2:32 pm
Forum: Personal Consumer Issues
Topic: New/used compact car
Replies: 9
Views: 527

New/used compact car

Hello, I am considering buying a new or a used compact car and as a true boglehead would do :-) , I am comparing prices and value offered. I have been looking at the usual suspects honda Civic, Mazda 3, totota corolla etc. 2017 corolla seems to be a good buy with the redesign and inclusion of severa...
by skor99
Sun Sep 10, 2017 8:28 am
Forum: Personal Finance (Not Investing)
Topic: Social Security bend points/early retirement estimates
Replies: 17
Views: 2632

Re: Social Security bend points/early retirement estimates

Yes, I tried that but for some reason it would not install. I think I am Ok for now with getting a general idea of what would my benefit at FRA be, in the hypothetical case of me not contributing anything to SS after this year (~$2200) . The numbers would only get better for future years worked.
by skor99
Sun Sep 10, 2017 8:19 am
Forum: Personal Finance (Not Investing)
Topic: Social Security bend points/early retirement estimates
Replies: 17
Views: 2632

Re: Social Security bend points/early retirement estimates

... your bend points are not applied yearly . ... at age 60 your Adjusted Indexed Monthly Earnings (AIME) are calculated from your 35 highest wage index adjusted SS earning years. ... your Primary Insurance Amount (PIA) can be calculated from your AIME and the appropriate bend points. This is when ...
by skor99
Sat Sep 09, 2017 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Social Security bend points/early retirement estimates
Replies: 17
Views: 2632

Social Security bend points/early retirement estimates

I used an excel based calculator to calculate bend points based on my SS contributions over the years. The calculator shows me that I reached my second bend point this year and any remaining benefits would accrue @ approx 15% going forward. Also, it shows a benefit level of around $2170 in today's d...
by skor99
Thu Aug 31, 2017 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

Nevertheless, a good benchmark is very helpful. I support both sides of the argument: whether to live your life or to save for later. To some extent, benchmark helps me to know where I am so that I can adjust accordingly. I'm not going to live up my life in a blindfold financially, nor do I save ev...
by skor99
Wed Aug 30, 2017 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

As somebody pointed out, I am definitely referring to your average mechanical/chemical/computer engineer or accountant or pharmacist. The one who is a manager or maybe a senior manager making around 120-130K. I am definitely not talking about the top performer who made it to the top management and m...
by skor99
Wed Aug 30, 2017 11:42 am
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

Can't comment on how much someone in that scenario SHOULD have, but this thread sure makes me very glad to be part of a DINK couple. Even in a HCOL area, with a HS diploma/AA degree my SO and I lucky enough to have 2X gross annual income saved at age 30/26. If we have kids down the line (35/31) we ...
by skor99
Wed Aug 30, 2017 11:38 am
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

I understand that it is mostly a matter of personal preference when people decide to have kids, but from a pure financial point of view, I think it is much better to have kids earlier rather than later as soon as one has been employed for a few years ( say late twenties for the first and early 30s f...
by skor99
Wed Aug 30, 2017 7:46 am
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

My advice, determine your lifestyle, figure out how much it costs to live that lifestyle, make an approximation of what it would take in terms of a lump sum at 45, 50, 55, 60, 65, 70 years of age to retire. Then simply invest the difference between your income and your lifestyle expenses. When you ...
by skor99
Tue Aug 29, 2017 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

Average professionals don't save 20%+ of their income. Average professionals don't LBTM. Average professionals are reflected in the oft-quoted statistics about not being able to come up with $500 in cash for an emergency: https://www.cbsnews.com/news/most-americans-cant-afford-a-500-emergency-expen...
by skor99
Tue Aug 29, 2017 6:48 am
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

In my view, comparisons are important not so that you can blindly copy somebody but to try to see that you are not falling behind in this competetive world. Yes, You can isolate and focus on just yourself, but there are so many factors that you don't control, which would determine your future retire...
by skor99
Sun Aug 27, 2017 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Salary History for Chemical Engineer
Replies: 30
Views: 4843

Re: Salary History for Chemical Engineer

The situation is very different in the IT field even though you might be working as a computer/software engineer. If the area you are working in high demand you can get a higher salary or better still work as a highly paid consultant. Conversely, if the demand is low, you might not get any raises or...
by skor99
Thu Aug 24, 2017 11:18 am
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

100 % equity in a home is useless if somebody loves their home that they have spent years in and have fond memories. They would have to sell to benefit from the equity That is not correct. If you own your home outright, you are benefiting from the value of imputed rent. Imputed rent is the value fo...
by skor99
Thu Aug 24, 2017 10:51 am
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

100 % equity in a home is useless if somebody loves their home that they have spent years in and have fond memories. They would have to sell to benefit from the equity
by skor99
Thu Aug 24, 2017 9:53 am
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

This would not make much sense for people whose income fluctuates from year to year.
by skor99
Thu Aug 24, 2017 9:26 am
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

I was talking to a friend who am I open with about money topics and issues. We got talking about how much an average earning professional like an engineer or accountant should have saved after working for 20 years. To keep things simple, we just talked about a single earner family. Obviously there ...
by skor99
Thu Aug 24, 2017 9:20 am
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

Doesn't one need an estate first to do any estate planning? 8-)
by skor99
Thu Aug 24, 2017 9:09 am
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

Thanks for the confirmation, Jharkin and congratulations for being in a good position. One thing that comes to mind is that dual income is obviously good to have, but not absolutely necessary to accumulate a significant nest egg. I would think that the second income would have to be 45-50K at the le...
by skor99
Wed Aug 23, 2017 10:18 pm
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

So the, it could be true that there are many people with such income levels with only 150-200K of savings after 18-20 yrs. That is kind of little to show for 20 yrs of work.
by skor99
Wed Aug 23, 2017 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

<<I was house poor in 1976 and a while after buying my place for a whopping $44,000.>> How much was your annual income at that time? And, please note that salary income has not kept up with inflation over the last 10 to 20 years. KlangFool My salary started at an incredible $13,000 in 1973. By 1976...
by skor99
Wed Aug 23, 2017 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

DanMahowny wrote: ↑
Wed Aug 23, 2017 8:12 pm
In the Millionaire Next Door, author Stanley says something like this:
(age x income) / 10 = expected net worth
Wow, that comes out to 504K with the numbers I had in my post ( 120K * 42 /10) assuming a person starts working at 22. So my rough approximation is not totally off base then.
by skor99
Wed Aug 23, 2017 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

Definitely not average but at age 31 we have $155k in cash and investments with my wife staying at home with our child and a HH income of about $55k. My son is 2 and has $4k invested in his UTMA, I'm not sure how he compares to his cohort :P . These numbers would put you way above average , congrat...
by skor99
Wed Aug 23, 2017 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

Re: What should the savings be for an average professional

Yes, the sensible bogleheads ones are not house poor, at least after working 15-20 years, but the average ones might as well be. This started off as a generic conversation, but at the end it turned out to be pertinent as it roughly matched up with my friend's situation. I would guess that this would...
by skor99
Wed Aug 23, 2017 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 167
Views: 15814

What should the savings be for an average professional

I was talking to a friend who am I open with about money topics and issues. We got talking about how much an average earning professional like an engineer or accountant should have saved after working for 20 years. To keep things simple, we just talked about a single earner family. Obviously there a...
by skor99
Thu Aug 17, 2017 9:33 am
Forum: Personal Finance (Not Investing)
Topic: Social Security payout dependencies
Replies: 1
Views: 311

Social Security payout dependencies

It's going to be a while before I get anything from Social Security, but as I was playing with the calculator on the SSA website ( dreaming about FI/ early retirement :-) ) , I noticed something. It seems it is better to earn and pay social security taxes on just a little bit of money leading up to ...
by skor99
Thu Aug 10, 2017 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Life at crossroads. What would you do ?
Replies: 198
Views: 17162

Re: Life at crossroads. What would you do ?

I am going thru a similar situation and have the link with my discussion below. I am a few years older, similar savings, DW does not make much, 2 kids in good public schools but college expenses are coming soon. I do own a home in a MCOL area with a small mortgage balance. You will see very differen...
by skor99
Tue Aug 01, 2017 12:05 pm
Forum: Investing - Theory, News & General
Topic: Rising dividends good sign or neutral or bad
Replies: 14
Views: 1336

Rising dividends good sign or neutral or bad

Upon looking at my portfolio dividend history the past few months, I see that the dividend payouts are generally higher for my mutual funds, ETFs and the stocks I own as compared to the previous year. In quite a few cases, the increase is more than inflation. From what I have read here, one should l...
by skor99
Thu Jul 27, 2017 12:13 pm
Forum: Investing - Theory, News & General
Topic: Anybody with substantial gains in FANG stocks ?
Replies: 22
Views: 2042

Re: Anybody with substantial gains in FANG stocks ?

I understand the relativity based on what is initially put in. But it is one thing to see a 20% fall in one of your stocks which actually results in a 5K loss vs 20% fall which results in a 50 K loss . Like everyone in the stock market I wish I had the foresight of buying Amazon in big quantities i...
by skor99
Thu Jul 27, 2017 12:10 pm
Forum: Investing - Theory, News & General
Topic: Anybody with substantial gains in FANG stocks ?
Replies: 22
Views: 2042

Re: Anybody with substantial gains in FANG stocks ?

Cool, but is it in a substantial enough quantity to give you 100K plus paper gains ? If so how did you handle the swings ? It has been mostly going up nowadays but there used to be some down days as well. Yes, much more than $100k. As far as the price fluctuating, I'm used to that, it's just the wa...
by skor99
Thu Jul 27, 2017 12:09 pm
Forum: Investing - Theory, News & General
Topic: Anybody with substantial gains in FANG stocks ?
Replies: 22
Views: 2042

Re: Anybody with substantial gains in FANG stocks ?

I understand the relativity based on what is initially put in. But it is one thing to see a 20% fall in one of your stocks which actually results in a 5K loss vs 20% fall which results in a 50 K loss . Like everyone in the stock market I wish I had the foresight of buying Amazon in big quantities in...
by skor99
Thu Jul 27, 2017 11:50 am
Forum: Investing - Theory, News & General
Topic: Anybody with substantial gains in FANG stocks ?
Replies: 22
Views: 2042

Re: Anybody with substantial gains in FANG stocks ?

Cool, but is it in a substantial enough quantity to give you 100K plus paper gains ? If so how did you handle the swings ? It has been mostly going up nowadays but there used to be some down days as well.
by skor99
Thu Jul 27, 2017 11:23 am
Forum: Investing - Theory, News & General
Topic: Anybody with substantial gains in FANG stocks ?
Replies: 22
Views: 2042

Anybody with substantial gains in FANG stocks ?

I mentioned FANG stocks, but the question would apply to any stock which has had similar runups. For example, Are there folks who bought amazon @ say less than $100 or apple at $10-$20 in big quantities after the 2001-2002 meltdown and held on ? I personally have a small position from 2011 in aapl w...
by skor99
Wed Jul 26, 2017 12:04 pm
Forum: Investing - Theory, News & General
Topic: VNQ allocation [Vanguard REIT Index]
Replies: 20
Views: 1421

Re: VNQ allocation

I do own total market index but was not aware that REITS are included in that and yes I have VNQ in tax advantaged accounts. Is it a given that VNQ always falls with rising interest rates or does a better economic also play a role ?
by skor99
Wed Jul 26, 2017 10:54 am
Forum: Investing - Theory, News & General
Topic: VNQ allocation [Vanguard REIT Index]
Replies: 20
Views: 1421

VNQ allocation [Vanguard REIT Index]

I currently have roughly 1.3% of my portfolio in REITS , specifically VNQ. I have no other real estate allocation except for my primary home ( not included in my NW). Per some of the allocation guidelines I have studied, I should have more in RE. I am not thinking of a rental property currently, but...
by skor99
Sun Jul 23, 2017 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Is this a good deal for xfinity
Replies: 6
Views: 715

Re: Is this a good deal for xfinity

I know I am spending more and No, I am not a Bill Gates equivalent :-) The question is about the non basic channels , sports etc. and the convenience that a cable multi room dvr box with additional outlet provides. If somebody had to replicate or come close to this setup by just going with fast inte...
by skor99
Sun Jul 23, 2017 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Is this a good deal for xfinity
Replies: 6
Views: 715

Is this a good deal for xfinity

I am trying to make a switch from my current TV/internet provider and got this quote from xfinity. It's around $165 pm total ( incl fees/taxes) for their premier double play with most of the premium movie channels and sports included and their performance pro internet with 100/5 mbps. Also includes ...
by skor99
Mon Jul 17, 2017 6:41 pm
Forum: Investing - Help with Personal Investments
Topic: Personal Finance Milestone: 20 Times Annual Expense
Replies: 95
Views: 9036

Re: Personal Finance Milestone: 20 Times Annual Expense

Congrats, Klangfool ! Not trying to be a wet blanket or anything, but isn't the thumb rule at least 25 times and not 20 ? Unless we are talking millions in savings where there is margin of safety, I think there is a big difference between 800 K and 1 MM for 40 K in expenses for example.
by skor99
Sat Jul 15, 2017 11:28 am
Forum: Investing - Theory, News & General
Topic: How are folks handling the unprecedented rise in the market ?
Replies: 166
Views: 18264

Re: How are folks handling the unprecedented rise in the market ?

I like many others am a skeptic of this market, given the volatile political situation and lack of any real improvements such as tax reform or infrastructure bills. But the fact is that the market still keeps going up. I am still in the market but What is everybody else doing ? Keeping the faith or...
by skor99
Sat Jul 15, 2017 11:25 am
Forum: Investing - Theory, News & General
Topic: How are folks handling the unprecedented rise in the market ?
Replies: 166
Views: 18264

Re: How are folks handling the unprecedented rise in the market ?

What do you mean by "unprecedented?" The market has risen before, so what is different about this time? Unprecedented in the sense that market seems to be ignoring the political volatility and uncertainty, highest inequality since the 1920s by some measures and the general unease amongst people reg...
by skor99
Fri Jul 14, 2017 9:29 pm
Forum: Investing - Theory, News & General
Topic: How are folks handling the unprecedented rise in the market ?
Replies: 166
Views: 18264

Re: How are folks handling the unprecedented rise in the market ?

And btw, I am not a bear and am not rooting for the market to fall in any way. Just Trying to balance my cautious and fragile optimism with some concerns - not just in the stock market but also in my personal job situation. Hopefully it will all end well, but there are some nights that I don't sleep...
by skor99
Fri Jul 14, 2017 8:49 pm
Forum: Investing - Theory, News & General
Topic: How are folks handling the unprecedented rise in the market ?
Replies: 166
Views: 18264

Re: How are folks handling the unprecedented rise in the market ?

I finally got our accounts to a 3 or 4 fund portfolio at a 60/40 asset allocation. It's nice to see the balances go up, but fully expect things to drop sometime. I rode it out the last time without doing anything stupid; I think I can do it again. Having a pension as a cushion does help as I should...
by skor99
Fri Jul 14, 2017 8:46 pm
Forum: Investing - Theory, News & General
Topic: How are folks handling the unprecedented rise in the market ?
Replies: 166
Views: 18264

Re: How are folks handling the unprecedented rise in the market ?

If this market rise is getting you all rattled you would have had a tough time in the 1980's and 90's. Water cooler discussions about which lousy "maximum capital gains" category funds were up only 50% last year......... Yes, to be honest, it does feel silly to be rattled when the market is rising....