Search found 74 matches

by gouverneur
Tue Jul 31, 2018 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Question to retirees - money or work/life balance?
Replies: 46
Views: 5176

Re: Question to retirees - money or work/life balance?

Lawyer here who left private law firms ("big law," in our jargon) for government work. No regrets despite the 60%+ haircut in pay. In certain high-paying but highly demanding careers (law, consulting, finance, tech) the marginal hours that the job consumes -- the 12th or 13th hour of work in a day -...
by gouverneur
Thu Jul 26, 2018 6:16 am
Forum: Personal Finance (Not Investing)
Topic: Anyone's Vanguard acting up? (What happened to BND??)
Replies: 5
Views: 826

Re: Anyone's Vanguard acting up? (What happened to BND??)

I see the same, please let us know what they say, thanks!
by gouverneur
Thu Jun 21, 2018 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: Can you retire on $2M?
Replies: 173
Views: 21033

Re: Can you retire on $2M?

Yeah, 8 percent is a super-aggressive withdrawal rate. Now, if you go by the standard 4 percent advice, that's $80,000 a year. Plenty of people can and do live on a lot less. If you go by conservative/cautious forum wisdom, which does seem sound to me, then you need a lower withdrawal rate for retir...
by gouverneur
Thu Jun 21, 2018 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: What is/ was your career and would you recommend it now?
Replies: 345
Views: 33704

Re: What is/ was your career and would you recommend it now?

Attorney here, I cannot recommend it to anyone unless they can graduate with less than, say, $50k in debt. I was a "winner" - top 3 law school, biglaw job, and paid off my 200k in student loans in 3.5 years. Now I have a job that I really love working in the public sector for a solid middle class i...
by gouverneur
Thu Jun 14, 2018 6:43 am
Forum: Investing - Theory, News & General
Topic: New JUST ETF - thoughts?
Replies: 12
Views: 745

New JUST ETF - thoughts?

https://slate.com/business/2018/06/just-500-the-goldman-sachs-paul-tudor-jones-values-driven-investment-fund-seems-good-actually.html If I understood correctly, the basic idea is, for a 0.20 expense ratio, you get a fund composed of 500 of the 1,000 largest companies in the US market, but ordered by...
by gouverneur
Mon Jun 11, 2018 8:14 am
Forum: Investing - Theory, News & General
Topic: Early retirement pros and cons:
Replies: 78
Views: 10384

Re: Early retirement pros and cons:

One question that occurs to me in reading these threads (and I'm definitely the type who has mapped out scenarios for early retirement, particularly when I was in private legal practice), is: Has anyone here retired early a decade or more ago, so they can speak to us about the experience of what it'...
by gouverneur
Fri Jun 08, 2018 8:50 am
Forum: Investing - Theory, News & General
Topic: The Psychology of Money - A Blog Post
Replies: 67
Views: 10056

Re: The Psychology of Money - A Blog Post

For me, this one stood out ..... "Wealth, in fact, is what you don’t see. It’s the cars not purchased. The diamonds not bought. The renovations postponed, the clothes forgone and the first-class upgrade declined. It’s assets in the bank that haven’t yet been converted into the stuff you see." 1210 ...
by gouverneur
Sat Jun 02, 2018 1:15 pm
Forum: Personal Consumer Issues
Topic: Top Shelf Liquor Overrated?
Replies: 191
Views: 17469

Re: Top Shelf Liquor Overrated?

Once a brand becomes "the latest and the greatest" the quality is sure to suffer. A recent example in my experience is Angel's Envy bourbon, which is aged in port wine barrels. I received a bottle as a gift a few years ago and found it to be a pleasant bourbon to drink neat. According to my local l...
by gouverneur
Wed May 16, 2018 3:08 pm
Forum: Personal Consumer Issues
Topic: how do you tip on wine at a restaurant
Replies: 209
Views: 12983

Re: how do you tip on wine at a restaurant

We generally do not get bottles, just a glass with dinner for each of us, but I tip 20%+ on the total bill without considering what portion is drinks vs. food.
by gouverneur
Fri Apr 13, 2018 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: Could you support family on 1 income?
Replies: 88
Views: 6589

Re: Could you support family on 1 income?

Yes. When DH and I got married (2006), we agreed that we would live in a such a way that we only *needed* one income. You never know what life may bring. That said, I suspect it is much easier to do given that we don't have or want kids. Very similar story for us. We could do it, although it would ...
by gouverneur
Fri Apr 13, 2018 12:08 pm
Forum: Investing - Help with Personal Investments
Topic: Guaranteed 9% annualized return?
Replies: 26
Views: 2492

Re: Guaranteed 9% annualized return?

Not discounting time value of money. Interest payment you make in 15 years is worth less now. Your calculation (if I understood your description) shows the value of avoiding a lump sum payment of $71k, not that 71k spread out over decades into the future.
by gouverneur
Tue Mar 27, 2018 8:34 am
Forum: Personal Consumer Issues
Topic: Underrated places to visit in U.S.?
Replies: 126
Views: 12177

Re: Underrated places to visit in U.S.?

Virginia wine country is lovely, when we lived in DC we took 4-5 trips out to various sub-regions (all within a few hours' drive of DC and its major airports). Along the way you can also do Shenandoah and the Skyline Drive, and if you enjoy small towns and "authentic" culture, Virginia is replete wi...
by gouverneur
Wed Feb 14, 2018 5:24 pm
Forum: Investing - Help with Personal Investments
Topic: Planning Using Nominal or Real Return
Replies: 13
Views: 839

Re: Planning Using Nominal or Real Return

Likely nominal for a 60/40 or 70/30 portfolio, most people here expect returns to be lower than in the past, I think a lot of people here would say 4-5% real on stocks would be a reasonable or even optimistic estimate in the next 10 years.
by gouverneur
Mon Feb 12, 2018 7:28 pm
Forum: Personal Consumer Issues
Topic: What big item (>20k) are you saving up for?
Replies: 159
Views: 14726

Re: What big item (>20k) are you saving up for?

Patek Philippe for sure ...

Just kidding. I do love mechanical watches but right now not saving much for anything. Do like to travel a fair amount, but don’t blow anywhere close to 20k on any one trip (maybe over two or three years of 7-10 trips a year, mostly weekend jaunts).
by gouverneur
Tue Feb 06, 2018 11:22 am
Forum: Investing - Theory, News & General
Topic: Young vs Middle Aged?
Replies: 32
Views: 3259

Re: Young vs Middle Aged?

IMVHO - 0-12 Young 13-18 Teenager 18-30 Young Adult 30-45 Adult 45-65 Middle Aged 65+ Elderly The boundaries are always going to be fuzzy. Each of these brackets could shift +/- 5 years or so. Depending on timing of major life events and decisions (ie. career progression, late starts, early marriag...
by gouverneur
Mon Feb 05, 2018 3:14 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6714
Views: 1463139

Re: U.S. stocks in freefall

I have been really bad/neglectful about a number of financial to-dos, including contributing to Roths this year and then handling a Roth version (which I should have done as soon as the tax year flipped to 2018, but oh well). Today has actually been a good day in that respect -- have been buying per...
by gouverneur
Thu Feb 01, 2018 1:11 pm
Forum: Investing - Theory, News & General
Topic: Is changing AA considered market timing?
Replies: 37
Views: 1779

Re: Is changing AA considered market timing?

Will give a (mildly) dissenting perspective on this one. Yes, it is market timing -- but, importantly, it avoids some of the most severe problems of market timing. The real danger with market timing, as people conventionally use the term around here, is moving money into non-productive assets like c...
by gouverneur
Mon Jan 29, 2018 7:17 pm
Forum: Investing - Theory, News & General
Topic: American saving rate
Replies: 28
Views: 5340

American saving rate

https://slate.com/business/2018/01/amer ... irc_recent

Interesting data point, not sure how to factor it into current thinking about the state of the economy and likelihood of a recession in the near future. Any thoughts?
by gouverneur
Mon Jan 29, 2018 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Does anyone use Personal Capital, Mint, Tiller, or You Need a Budget?
Replies: 38
Views: 5132

Re: Does anyone use Personal Capital, Mint, Tiller, or You Need a Budget?

I use Personal Capital myself, I understand the security concern but have decided that the benefits outweigh it (admittedly not a rational or calculated decision, just found the app so useful). I primarily use it to track spending and make sure nothing crazy happens on my accounts. I actually had a ...
by gouverneur
Fri Jan 12, 2018 12:51 pm
Forum: Investing - Theory, News & General
Topic: Lower tax rates for 7 yrs.-Are you switching to Roth 401K
Replies: 65
Views: 6480

Re: Lower tax rates for 7 yrs.-Are you switching to Roth 401K

I like doing a Traditional 401k alongside the Roth IRA. That way I have some money in both kinds. This: 1) hedges my bet either way; and 2) allows me to take out some money in retirement that would be taxed at a low rate and supplement that with money that won't be taxed at all. Yup. I think for mo...
by gouverneur
Sat Jan 06, 2018 11:23 am
Forum: Local Chapters and Bogleheads Community
Topic: DD just got married !
Replies: 39
Views: 4482

Re: DD just got married !

Congratulations, that’s wonderful! We opted for a similar style of wedding, that is a strong indicator of a conservative financial lifestyle, best of wishes to your daughter and new son in law.
by gouverneur
Wed Jan 03, 2018 8:14 am
Forum: Investing - Theory, News & General
Topic: Why the Roth IRA Bias?
Replies: 133
Views: 29752

Re: Why the Roth IRA Bias?

Confused by the question, although there are other threads out there with more detail. You ask if you should “still” prefer Roth after tax rates go down? But the reduction of rates increases the desirability of Roth because you’re paying less in taxes today and get it tax free whenever you use it in...
by gouverneur
Thu Dec 28, 2017 3:05 pm
Forum: Investing - Theory, News & General
Topic: Jack Bogle and Vanguard’s $5,000,000,000,000 Question - Philadelphia Magazine
Replies: 41
Views: 6672

Re: Jack Bogle and Vanguard’s $5,000,000,000,000 Question - Philadelphia Magazine

Hadn't heard about that tax lawsuit before, not sure what to make of that . . .
by gouverneur
Wed Dec 27, 2017 9:02 am
Forum: Investing - Theory, News & General
Topic: Just not getting it [Stock Picking versus TSM]
Replies: 98
Views: 15409

Re: Just not getting it

We are really, really bad at predicting the future and really, really good at fooling ourselves into thinking otherwise. This is probably the real foundation, or at least an excellent distillation, of the wisdom accumulated on this site. You can learn a lot more detailed information and tactics, bu...
by gouverneur
Fri Jul 07, 2017 8:06 am
Forum: Personal Finance (Not Investing)
Topic: What is a Normal Spending Percentage of Take-Home Pay?
Replies: 29
Views: 3405

Re: What is a Normal Spending Percentage of Take-Home Pay?

Definitely confused by the question including savings, but we spend something like 25% of our pre-tax income, or about 38% of our post-tax (I'm including property tax, FICA, federal and state, etc., but not sales tax). If you then throw in payments on mortgage that go to home equity, we spend 37% pr...
by gouverneur
Thu Jun 15, 2017 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Would you take a 25% pay cut for more professional satisfaction?
Replies: 57
Views: 5938

Re: Would you take a 25% pay cut for more professional satisfaction?

If the move to a lower paying job won't hurt your long-time retirement plan, or impact your lifestyle to such an extent that it causes you greater unhappiness or stress, then do it. There really is no substitute for being happy with one's work (or at least, not unhappy). It's such a significant amo...
by gouverneur
Wed Jun 14, 2017 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Would you take a 25% pay cut for more professional satisfaction?
Replies: 57
Views: 5938

Re: Would you take a 25% pay cut for more professional satisfaction?

I'll put in a yes vote, but caveat that with saying it's heavily industry-dependent so more details may be helpful to providing concrete advice. My wife and I are lawyers, we took a 60%+ paycut to move from private "big law" firms to work for the government. Haven't missed the money or regretted our...
by gouverneur
Tue Jun 13, 2017 4:24 pm
Forum: Personal Consumer Issues
Topic: Suits: best bang for your buck?
Replies: 64
Views: 24513

Re: Suits: best bang for your buck?

Thanks for the update. Fellow attorney here, and a Suit Supply guy myself. IMO, they are the best value at their price point ($399 for the basic line), equal in quality to Brooks Bros. suits that go for double the price even on sale. But as your experience shows, you can do just fine for yourself a...
by gouverneur
Tue Jun 13, 2017 12:16 pm
Forum: Personal Consumer Issues
Topic: Suits: best bang for your buck?
Replies: 64
Views: 24513

Re: Suits: best bang for your buck?

Thanks for the update. Fellow attorney here, and a Suit Supply guy myself. IMO, they are the best value at their price point ($399 for the basic line), equal in quality to Brooks Bros. suits that go for double the price even on sale. But as your experience shows, you can do just fine for yourself at...
by gouverneur
Wed Jun 07, 2017 4:19 pm
Forum: Personal Consumer Issues
Topic: Lagavulin 16 yo vs Distiller's edition
Replies: 12
Views: 2580

Re: Lagavulin 16 yo vs Distiller's edition

I am actually looking to get a bottle of Distiller's Edition as my next addition to the collection. The basic gist is that DE is the regular Lagavulin 16 with additional finishing in sherry casks. Have you had sherried scotches (Aberlour, Macallan, Glendronach, etc.) before? It basically adds some d...
by gouverneur
Fri May 26, 2017 8:36 am
Forum: Personal Consumer Issues
Topic: Should I drink or sell my Pappy 12 year?
Replies: 74
Views: 11364

Re: Should I drink or sell my Pappy 12 year?

Entered a lottery with ABC fine wine and spirits and won the option of buying 1 bottle of Pappy Van Winkle 12 year. I haven't drank much bourbon. I'm a Scotch fan (Lagavulin, Laphroaig, Highland Park). Should I drink it with my scotch drinking, buddy? or try to sell it (if I can)? Huge scotch fan h...
by gouverneur
Sun May 14, 2017 8:17 am
Forum: Personal Consumer Issues
Topic: How much to tip movers?
Replies: 71
Views: 7928

Re: How much to tip movers?

stan1 wrote:I would give $20/person and be thankful I didn't have to do it myself.
+1
by gouverneur
Sun May 14, 2017 8:16 am
Forum: Personal Finance (Not Investing)
Topic: How Old Habits Can Sabotage Retirement
Replies: 51
Views: 9145

Re: How Old Habits Can Sabotage Retirement

Never thought about it this way before but this is wise. It is easy to think of it as just "yours" because of all those years you received statements with only YOUR NAME on it. How many times did you look at "your" assets and include the full value as part of your net worth? Since each person will o...
by gouverneur
Sun May 14, 2017 8:10 am
Forum: Personal Finance (Not Investing)
Topic: Has Your Number Changed Over Time?
Replies: 11
Views: 1860

Re: Has Your Number Changed Over Time?

I think there's a different question how much your number moves up from childhood or adolescence to adulthood, vs. how much it may move in adulthood. When I was young, I did not have a grasp of investing basics including the value of compounding, nor did I have much of a sense of how much life costs...
by gouverneur
Sun May 14, 2017 7:58 am
Forum: Personal Finance (Not Investing)
Topic: Anyone else dial down retirement savings?
Replies: 32
Views: 5892

Re: Anyone else dial down retirement savings?

I have not dialed down yet but understand the perspective. My wife and I are around 30 and saved heavily in higher-paying private sector jobs before just switching to government this year. If we work until our mid-50s, i.e., full retirement age, the basic benefit pension alone is more than our curre...
by gouverneur
Tue May 09, 2017 3:55 pm
Forum: Investing - Theory, News & General
Topic: The Bogleheads Guide for Federal Employees
Replies: 9
Views: 1775

Re: The Bogleheads Guide for Federal Employees

As a fellow (and newly joined) fed employee, planning for a long career in government, I'd heartily support this effort.
by gouverneur
Fri May 05, 2017 3:06 pm
Forum: Investing - Theory, News & General
Topic: Why save so much for when you're old?
Replies: 163
Views: 22858

Re: Why save so much for when you're old?

To take a tack counter to conventional wisdom on this board -- since OP's 24, why shouldn't he spend to his fullest capacity (hopefully not getting into debt on top) for a few years and see how much he likes it? Or save a little bit, 5-10%, and spend more in youth? I do agree with the perspective th...
by gouverneur
Fri May 05, 2017 8:28 am
Forum: Personal Finance (Not Investing)
Topic: Do you know exactly what % of income you spend?
Replies: 48
Views: 4660

Re: Do you know exactly what % of income you spend?

Just tried to crunch my numbers after compiling a few months of data (started new jobs in January with a substantial paycut for both my wife and me, but jobs we love). My projection with 4+ months of spending now (and knowing that we're fairly consistent/stable from month to month) is 28-29% spendin...
by gouverneur
Fri May 05, 2017 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Buying a luxury car (how dumb would it be to do this?)
Replies: 216
Views: 25465

Re: Buying a luxury car (how dumb would it be to do this?)

I'll weigh in on the side of getting the car. OP has a passion for cars and an interest in them. The car will provide him enjoyment, and he can afford it. His savings rate is strong (37% of pre-tax income). His job has greater security than most, as does his wife's, reducing the risk of being stuck ...
by gouverneur
Fri Apr 28, 2017 9:45 pm
Forum: Investing - Theory, News & General
Topic: What is your overall portfolio weighted expense ratio
Replies: 206
Views: 20997

Re: What is your overall portfolio weighted expense ratio

0.07% - vast majority in Vanguard ETFs, iShares core funds, and TSP.
by gouverneur
Tue Apr 25, 2017 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 24236

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

Frugal is a comparative term. I'm frugal compared to a billionaire. I think it's more important to be be responsible with your money than it is to try to "out frugal" someone. Living below your means (or at your means once retired) seems like a better yardstick to me. Many people try to make a virt...
by gouverneur
Thu Apr 20, 2017 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 6323

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

Not unusual for long-term teachers to have zero SS upon retirement. My GF is in same situation. This also means no Medicare, unless married to a person covered by SS. So allow $1000/month for health insurance in your 60s and beyond... This is very interesting, I had no idea this was the case (but n...
by gouverneur
Thu Apr 20, 2017 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 6323

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

'I'm struck by the huge amount of home equity you have relative to investments. Having a home worth 1.5-2x all investments is a little unusual, and a 950k home seems like a ton for a person who is single and will be living on 60k a year or so. Property taxes alone would be a huge payment, right?'" ...
by gouverneur
Thu Apr 20, 2017 10:40 am
Forum: Personal Consumer Issues
Topic: Tips on Uber
Replies: 77
Views: 8421

Re: Tips on Uber

Uber has been very unclear on this in the past, and I confess I thought we still were not supposed to tip. That being said, I understand that fares have dropped precipitously since I started using the app in 2013 (never had a car in those years because it was cheaper to just use public transportatio...
by gouverneur
Thu Apr 20, 2017 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 6323

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

The key missing piece of info is your monthly or annual expenses, which is the most important determinant of whether you have too much or not enough. You have a pension and presumably will add social security when the time comes (whether that's at 62, 67, or 70, depending on how long you want to wai...
by gouverneur
Tue Apr 18, 2017 10:59 am
Forum: Investing - Help with Personal Investments
Topic: Exchanging the S&P 500 for the TSM
Replies: 16
Views: 2847

Re: Exchanging the S&P 500 for the TSM

Agreed, no downside.
by gouverneur
Fri Apr 14, 2017 9:38 pm
Forum: Investing - Theory, News & General
Topic: Janus Unconstrained, almost three years in...
Replies: 27
Views: 4352

Re: Janus Unconstrained, almost three years in...

Interesting observation, I remember Gross's departure being quite the bombshell. It looks like he hasn't recovered the old magic (if there ever was any). More proof that active management/specific managers are overrated? As if we needed any . . .
by gouverneur
Wed Apr 12, 2017 6:26 pm
Forum: Investing - Help with Personal Investments
Topic: ~20 year long investing
Replies: 17
Views: 1799

Re: ~20 year long investing

Even if I were in your situation and willing to go 100% equities, I'd still be inclined to go total market (with a 30-33% allocation to international) over going exclusively small cap value. Could you please explain why? Taking into account the 20-year horizon and extreme Risk-aversity. 3 - What ar...
by gouverneur
Wed Apr 12, 2017 4:47 pm
Forum: Investing - Help with Personal Investments
Topic: ~20 year long investing
Replies: 17
Views: 1799

Re: ~20 year long investing

I suppose there are slightly distinct questions to answer: 1 - Is it worth it for you to have any bonds in the portfolio given your unique circumstances? If we take you at your word that you are willing to bear the highest possible risk, and will not jump out of the market in a horrific crash (even ...
by gouverneur
Wed Apr 12, 2017 9:29 am
Forum: Investing - Theory, News & General
Topic: What rate of return do you use when planning for retirement?
Replies: 178
Views: 27693

Re: What rate of return do you use when planning for retirement?

Based on reading threads like this I tend to use 3% real (for 70/30 stock/bond portfolio). It seems reasonable to err on the side of caution because for us the primary goal is early retirement or at least early financial independence. If greater than expected real returns occur, that just bumps up o...