Search found 2898 matches

by tc101
Mon Oct 16, 2017 7:13 pm
Forum: Personal Consumer Issues
Topic: Negotiating for a new car purchase
Replies: 52
Views: 3220

Re: Negotiating for a new car purchase

..don't buy new, its a fools game...
I just read a detailed analysis in another thread that said just the opposite. If you are going to keep a car until it is 12 years old, you do about the same buying new or used. Now I can't find that post.

What do others think.
by tc101
Mon Oct 16, 2017 7:02 pm
Forum: Personal Consumer Issues
Topic: How many miles/years do you keep your car?
Replies: 108
Views: 7012

Re: How many miles/years do you keep your car?

i'm driving a 2003 Crown Vic with about 160K miles. I would buy a new one but they stopped making them in 2011. Can't decide what to buy to replace it. Thinking about a Chrysler 300 or Chevy Impala. May think about it for a few more years if the Crown Vic holds up.
by tc101
Wed Oct 11, 2017 1:14 pm
Forum: Investing - Theory, News & General
Topic: Growth rate over the next 10-20 years
Replies: 6
Views: 745

Re: Growth rate over the next 10-20 years

Has there ever been a 20 year period with 0% real growth rate for a 50/50 stock bond portfolio?
by tc101
Wed Oct 11, 2017 9:59 am
Forum: Investing - Theory, News & General
Topic: Growth rate over the next 10-20 years
Replies: 6
Views: 745

Growth rate over the next 10-20 years

I'm writing a spread sheet macro. What do you think are reasonable assumptions for average real growth rate over the next 10 years for a 50/50 portfolio? What about the next 20 years?

My guess, 10 years 1-2%, 20 years 2-4%.
by tc101
Tue Oct 10, 2017 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Senior citizens can lose everything [to professional guardians via court rulings]
Replies: 111
Views: 9245

Re: Senior citizens can lose everything [to professional guardians via court rulings]

The best thing you can do is raise kids that have a healthy distrust for authority. Hopefully they can protect you. No one else will.
I think that is true, and I don't have any kids.
by tc101
Tue Oct 10, 2017 8:25 am
Forum: Personal Finance (Not Investing)
Topic: Please look at my financial situation and give me your insights
Replies: 21
Views: 2231

Re: Please look at my financial situation and give me your insights

I think a necessary component of your retirement plan is for your wife and you to learn to work together on finances. Having one person with out of control spending (as the other sees it) leaves the "saver" nervous, afraid, and resentful. She spender would see the saver as over bearing, and be rese...
by tc101
Mon Oct 09, 2017 9:54 pm
Forum: Personal Finance (Not Investing)
Topic: Please look at my financial situation and give me your insights
Replies: 21
Views: 2231

Re: Please look at my financial situation and give me your insights

It was not clear if if that included taxes or not. If are spending $100K a year after taxes then you will need a lot more income than that to have $100K left after paying taxes. Good point. Some of the money is in a Roth IRA, but more is in taxable stock funds, and a regular IRA that will be taxabl...
by tc101
Mon Oct 09, 2017 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: Please look at my financial situation and give me your insights
Replies: 21
Views: 2231

Re: Please look at my financial situation and give me your insights

If she "worked on a state court", won't she get a state pension?
Yes but it is not very much. She wasn't there long enough.
by tc101
Mon Oct 09, 2017 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Please look at my financial situation and give me your insights
Replies: 21
Views: 2231

Re: Please look at my financial situation and give me your insights

Lars, could you post the code for the macro in that spreadsheet so I can play with it.
by tc101
Mon Oct 09, 2017 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Please look at my financial situation and give me your insights
Replies: 21
Views: 2231

Re: Please look at my financial situation and give me your insights

Thanks everyone for your input. Now lets look at it another way. In 25 years The probability that I will be alive is 13%. The probability that the wife will be alive is 44%. The probability that we will both be alive is 6%. The probability that one of us will be alive is 51%. In 30 years The probabi...
by tc101
Mon Oct 09, 2017 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Please look at my financial situation and give me your insights
Replies: 21
Views: 2231

Re: Please look at my financial situation and give me your insights

So she needs to stay working until she can draw Medicare and maybe even start SS at the same time. This will give her her $$ and allow you to put a hard limit on her spending. I know this is harsh but I see this as the best solution for your road ahead. It is not harsh. It is a simple statement of ...
by tc101
Mon Oct 09, 2017 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Please look at my financial situation and give me your insights
Replies: 21
Views: 2231

Re: Please look at my financial situation and give me your insights

Also, what is your current health insurance situation and how will it change if/when your wife retires? I'm on medicare. She has coverage through the state from when she worked on a state court. It is something like COBRA but it goes on indefinitely. I don't know what it costs but it is part of her...
by tc101
Mon Oct 09, 2017 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: Please look at my financial situation and give me your insights
Replies: 21
Views: 2231

Please look at my financial situation and give me your insights

Bogleheads please look at my financial situation and give me your insights. My wife and I have been together 21 years but have remained 2 separate financial entities because we disagreed so strongly on financial matters. I am your classic low spending high saving boglehead. She is just the opposite....
by tc101
Sun Oct 08, 2017 12:43 pm
Forum: Investing - Help with Personal Investments
Topic: Third time in my 32 year career I have been laid off
Replies: 87
Views: 10073

Re: Third time in my 32 year career I have been laid off

Retire. You have plenty of money.

Unless you enjoy your work more than anything you do in your leisure time you should definitely retire.

If you knew you were going to die in 10 years, what would you do? Do that.
by tc101
Sun Oct 08, 2017 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Senior citizens can lose everything [to professional guardians via court rulings]
Replies: 111
Views: 9245

Re: Senior citizens can lose everything [to professional guardians via court rulings]

I think I'm going to see an elder law attorney. I found several by doing a google on "elder law attorney georgia".
by tc101
Sat Oct 07, 2017 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: RE tax question
Replies: 10
Views: 498

Re: RE tax question

Be careful about allowing the desire to lower taxes to lead to an unsuitable decision.
Very good advice. I knew that, but needed to be reminded. Thanks.
by tc101
Sat Oct 07, 2017 11:01 am
Forum: Personal Finance (Not Investing)
Topic: RE tax question
Replies: 10
Views: 498

Re: RE tax question

If he made any "capital improvements" to the building, any money he spent on materials or outside labor would increase his cost basis. He should have receipts for these expenditures. Repairs that are not improvements do not count for this. Excellent advice - start brainstorming now, list every impr...
by tc101
Sat Oct 07, 2017 10:35 am
Forum: Personal Finance (Not Investing)
Topic: RE tax question
Replies: 10
Views: 498

Re: RE tax question

He could do an installment sale and spread the payout over two years for lower per year income. See the IRS website for installmental sales. As I understand it he would have to make less than $38K per year to gain from this. That would mean spreading the payout over more than 2 years. I may not und...
by tc101
Sat Oct 07, 2017 10:32 am
Forum: Personal Finance (Not Investing)
Topic: RE tax question
Replies: 10
Views: 498

Re: RE tax question

He could also flip the triplex over into a bigger property via a 1031 exchange and still take out some cash. If he did this there would be zero taxes. Plus with his history and skillset he could finance most of the new rentals. I bet he could do a bigger property that would be positive cash flow. T...
by tc101
Sat Oct 07, 2017 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Senior citizens can lose everything [to professional guardians via court rulings]
Replies: 111
Views: 9245

Re: Senior citizens can lose everything [to professional guardians via court rulings]

Has anyone found a web site that lists the protections and problems in each state? I live in Georgia. My brother lives in California. How do we find out the protections and dangers in our states?
by tc101
Sat Oct 07, 2017 9:41 am
Forum: Personal Finance (Not Investing)
Topic: RE tax question
Replies: 10
Views: 498

RE tax question

I have a friend who is 62 semi-retired and works doing small home repairs. His only assets are the duplex he lives in, and a triplex he wants to sell. He can probably walk away from the triplex sale with about $300K after paying the mortgage and agents commission. Almost all of this will be profit s...
by tc101
Fri Oct 06, 2017 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone go 100% Ally or another online bank for all banking needs?
Replies: 61
Views: 5006

Re: Anyone go 100% Ally or another online bank for all banking needs?

Another Schwab customer here. They have fabulous customer service. And they do have branches if you need one at some point. They used to have fabulous customer service. Lately I have just hung up the phone in frustration after waiting more than 5 minutes to get to a human. I am thinking of switchin...
by tc101
Wed Oct 04, 2017 11:25 am
Forum: Investing - Theory, News & General
Topic: Annuities-when and why?
Replies: 94
Views: 13009

Re: Annuities-when and why?

I have a variable annuity at Vanguard. Can I roll that over into an SPIA?
by tc101
Wed Oct 04, 2017 10:46 am
Forum: Investing - Theory, News & General
Topic: Annuities-when and why?
Replies: 94
Views: 13009

Re: Annuities-when and why?

I am 67 and retired. I am living off my investments at Vanguard and a temporary return from a real estate investment that will end in a few years. I will start SS when I am 70. I want income from an SPIA starting about age 75. I will invest at least $250K in an SPIA. $250K is what is guaranteed by m...
by tc101
Wed Oct 04, 2017 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Senior citizens can lose everything [to professional guardians via court rulings]
Replies: 111
Views: 9245

Re: Senior citizens can lose everything [to professional guardians via court rulings]

If you don't have anyone suitable, and you want a bank to act as agent, you'll probably need to do a revocable trust with the bank as a trustee, since banks prefer to act as trustee than as agent under a power of attorney. That's my situation. I don't have anyone suitable. I am 67. I have no childr...
by tc101
Tue Oct 03, 2017 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Senior citizens can lose everything [to professional guardians via court rulings]
Replies: 111
Views: 9245

Re: Senior citizens can lose everything [to professional guardians via court rulings]

Here is an organization "Americans Against Abusive Probate Guardianship" http://aaapg.net/ that is fighting this. And here is something from the article about its founder Richard Black, who, after his father-in-law was placed into guardianship, became the director of a grassroots national organizati...
by tc101
Tue Oct 03, 2017 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Senior citizens can lose everything [to professional guardians via court rulings]
Replies: 111
Views: 9245

Re: Senior citizens can lose everything [to professional guardians via court rulings]

In general, asset Rothification would be a way to reduce one's attractiveness to a vulture.
Why? I don't understand.
by tc101
Tue Oct 03, 2017 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Senior citizens can lose everything [to professional guardians via court rulings]
Replies: 111
Views: 9245

Re: Senior citizens can lose everything [to professional guardians via court rulings]

This article is terrifying. I had no idea this problem existed but have been googling now and found plenty of corroborating articles, plus sites that show one how to become a “professional guardian.”
In your googling, have you found any sites that tell how to protect yourself from this?
by tc101
Tue Oct 03, 2017 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Senior citizens can lose everything [to professional guardians via court rulings]
Replies: 111
Views: 9245

Re: Senior citizens can lose everything [to professional guardians via court rulings]

Another reason to have a strong power of attorney in place.
I have the same question as the last poster. Does power of attorney override legal guardianship? How exactly would this work?
by tc101
Tue Oct 03, 2017 10:26 am
Forum: Personal Finance (Not Investing)
Topic: Senior citizens can lose everything [to professional guardians via court rulings]
Replies: 111
Views: 9245

Re: Senior citizens can lose everything [to professional guardians via court rulings]

As to the synopsis, it helps to have crooked judges, crooked doctors, etc. but probably mostly crooked judges.
They don't really need to be crooked. Just lazy, or overworked and easily persuaded.
by tc101
Tue Oct 03, 2017 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Senior citizens can lose everything [to professional guardians via court rulings]
Replies: 111
Views: 9245

Re: Senior citizens can lose everything [to professional guardians via court rulings]

I scanned the article and actually it appears that OP's title is a bit overactive, as it seems that the particular abuse described has been reined in to a degree. That is not how I read it. The guardian in the story was indicted, probably because she was so blatant, but smother operators will conti...
by tc101
Tue Oct 03, 2017 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Senior citizens can lose everything [to professional guardians via court rulings]
Replies: 111
Views: 9245

Re: Senior citizens can lose everything [to professional guardians via court rulings]

OP- maybe edit the title to make it look less like one of those ads at the bottom of pages?
That might be a good idea. How do you edit a title? Could you suggest a title?
by tc101
Tue Oct 03, 2017 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Senior citizens can lose everything [to professional guardians via court rulings]
Replies: 111
Views: 9245

Re: Senior citizens can lose everything to this growing scam

Its too long, written like a novel. Hope I can find a synopsis somewhere. I want to know about this... but don't have time to read the entire story. What is the gist of this? It is pretty easy to take a short course and get a license to be a state appointed guardian to older people who are ruled in...
by tc101
Tue Oct 03, 2017 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Senior citizens can lose everything [to professional guardians via court rulings]
Replies: 111
Views: 9245

Re: Senior citizens can lose everything to this growing scam

I didn't see any advice in that article on how to prevent this kind of thing. I suppose it might involve locking assets away in trusts and getting your desired eventual guardians set up with legal responsibilities. I think that article is going to get a lot of attention. It sure got my attention. I...
by tc101
Tue Oct 03, 2017 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Senior citizens can lose everything [to professional guardians via court rulings]
Replies: 111
Views: 9245

Senior citizens can lose everything [to professional guardians via court rulings]

How the Elderly Lose Their Rights. Guardians can sell the assets and control the lives of senior citizens without their consent—and reap a profit from it. Read this story from the Oct. 9 issue of the New Yorker. This seems like something really dangerous that could happen to anyone as they age. http...
by tc101
Tue Oct 03, 2017 8:56 am
Forum: Investing - Help with Personal Investments
Topic: Pay off mortgage instead of bond investment
Replies: 28
Views: 2164

Re: Pay off mortgage instead of bond investment

I would pay off the mortgage and lower percent of equities.
by tc101
Mon Sep 25, 2017 11:24 am
Forum: Personal Consumer Issues
Topic: Do you avoid risky adventures once you have the money?
Replies: 71
Views: 4193

Re: Do you avoid risky adventures once you have the money?

I think it probably has more to do with age. As you get older your strength, speed and coordination all decline. On some level you think you can do the stuff you could do when you were 20, but another wiser voice says "Be careful".
by tc101
Sun Sep 24, 2017 5:05 pm
Forum: Personal Consumer Issues
Topic: Where do you get your news?
Replies: 131
Views: 8407

Re: Where do you get your news?

Thing is, I have recently had several smart people give me the advice to stop consuming news completely. The argument is that: 1) virtually none of it is actionable 2) it makes you unhappy There is a lot of wisdom to that. I cut back from time to time. Occasionally take a few days off totally. It i...
by tc101
Sun Sep 24, 2017 4:59 pm
Forum: Personal Consumer Issues
Topic: Where do you get your news?
Replies: 131
Views: 8407

Re: Where do you get your news?

Several people have mentioned reddit as a news source. How does that work?
by tc101
Sun Sep 24, 2017 10:10 am
Forum: Personal Consumer Issues
Topic: Do you subscribe to digital newspapers?
Replies: 68
Views: 3310

Re: Do you subscribe to digital newspapers?

A lot of news are stale by the time paper is at the door. I like stale news. I subscribe to weekly paper magazines like The Economist and Time. I don't want to get sucked into the moment to moment news frenzy of stories that are designed to get me to click a link and often contain no useful content...
by tc101
Sun Sep 24, 2017 9:48 am
Forum: Personal Consumer Issues
Topic: Where do you get your news?
Replies: 131
Views: 8407

Where do you get your news?

Where do you get your news? I'll start by answering my own question: Economist magazine - I subscribe to the paper edition and this is my single best source of in depth news. Time Magazine - I subscribe to the paper edition but may drop my subscription because it is much shallower than the econonmis...
by tc101
Thu Sep 21, 2017 5:35 pm
Forum: Personal Consumer Issues
Topic: How does this two factor authentication work?
Replies: 9
Views: 721

How does this two factor authentication work?

I have a schwab account. I requested 2 facotor authentication, with a device they sent me. When I log in, after entering my password it asks for a number. I press a button on the device, get a number, and enter it. How does this work? How does the website know what number the device gives?
by tc101
Wed Sep 20, 2017 10:27 pm
Forum: Investing - Help with Personal Investments
Topic: I won the Lottery. Need sound advice.
Replies: 220
Views: 24293

Re: I won the Lottery. Need sound advice.

My advise is to pay off all debt including the mortgage. Fire your financial advisor and then come back here for advise with your updated situation. That is exactly what I would recommend. Couldn't say it better. I could go into more details about why these are the right things to do, but its time ...
by tc101
Tue Sep 19, 2017 8:39 pm
Forum: Personal Consumer Issues
Topic: Getting (young) kids interested in coding
Replies: 81
Views: 5074

Re: Getting (young) kids interested in coding

Any recommendations for a really old kid (adult) who wants to learn? Which language would you recommend (GF is pushing python)? Check out www.freecodecamp.org I suggest javascript but python would be a good second choice. Language choice is not as important as a good online community. Freecodecamp ...
by tc101
Wed Sep 06, 2017 10:15 am
Forum: Investing - Help with Personal Investments
Topic: Bought crypto currency
Replies: 67
Views: 3634

Re: Bought crypto currency

I would also have to question calling them currency since there are very few legitimate places where you can actually spend them.
Amazon
Bitcoin ATMs
by tc101
Fri Sep 01, 2017 2:19 pm
Forum: Investing - Help with Personal Investments
Topic: New issue vs secondary CDs at Vanguard
Replies: 2
Views: 406

Re: New issue vs secondary CDs at Vanguard

I called Vanguard and they explained it to me so no need to respond to this post.
by tc101
Fri Sep 01, 2017 11:05 am
Forum: Investing - Help with Personal Investments
Topic: New issue vs secondary CDs at Vanguard
Replies: 2
Views: 406

New issue vs secondary CDs at Vanguard

I can't see any difference between the yield on new issue and secondary CDs at Vanguard. Several people here have said the secondary CDs have better rates, but I don't see that. Maybe I don't know how to look at the rates. Could someone explain this to me, or if it is explained in the wiki, give me ...
by tc101
Wed Aug 30, 2017 11:36 am
Forum: Investing - Theory, News & General
Topic: [Bitcoin] question
Replies: 125
Views: 8957

Re: Bit Coin question

"Banking on Bitcoin" is a movie streaming on Netflix that will answer lots of your questions.