Search found 1336 matches

by msk
Sat Oct 12, 2019 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: How do I make more money with my accounting degree?
Replies: 6
Views: 678

Re: How do I make more money with my accounting degree?

Get your certification into a CPA. The rest will come, but never expect a 200k income to be stress free. My daughter had a BCom and a good job at a Fortune 10 @$60k. A few months after becoming a CPA she got a job as Finance Manager at a smaller company @$170k. But she is just blessed with always be...
by msk
Tue Oct 08, 2019 12:56 pm
Forum: Personal Consumer Issues
Topic: Buying a house with in slab copper piping
Replies: 34
Views: 3821

Re: Buying a house with in slab copper piping

Sounds like a total replacement would cost "noise" $ hence it should not enter the decision making prominently. All pipes leak eventually. You replace when they need replacing. The replacement will simply start deteriorating sooner rather than later. I had a bunch of pipeline engineers working for m...
by msk
Sun Oct 06, 2019 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Tactics to pay off Mortgage Early??
Replies: 60
Views: 5913

Re: Tactics to pay off Mortgage Early??

Just take all these discussions to a ridiculous extreme. So you owe $200k on a $500k home. Good not to pay off the loan? Yes, because of the low interest. Go take an additional loan for the underutilized $300k, Silly? Pay off that $200k. A mortgage is a negative bond that implies that you are gearin...
by msk
Sun Oct 06, 2019 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Foreign Student Loans
Replies: 4
Views: 258

Re: Foreign Student Loans

Just pay off the loan and breathe free! When it comes to forecasting future exchange rates just recall that at any time 50% of forex traders are betting one way and another 50% the other direction. What makes you think you are in the correct half? Looks good now? Pay off. Nobody ever regretted getti...
by msk
Sun Oct 06, 2019 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Finance or Accounting Degree?
Replies: 81
Views: 5123

Re: Finance or Accounting Degree?

From the perspective of HR in a Fortune 10, the most critical part is being a properly certified CPA that can sign off company accounts, e.g. of subsidiaries or even medium sized individual companies. How he gets there, or whether he loves or hates accounting is irrelevant. I have a daughter with an...
by msk
Fri Oct 04, 2019 10:32 am
Forum: Personal Investments
Topic: 75 year old widow (my mom) retirement portfolio suggestions, RMD's - 2.35M assets
Replies: 25
Views: 2044

Re: 75 year old widow (my mom) retirement portfolio suggestions, RMD's - 2.35M assets

I am in a similar situation as your mother, age 75 with a COLA pension covering my expenses. But I have a high tolerance for stocks' volatility since I have dabbled for 4 decades. So I am in 100% stocks worldwide and withdraw 3.5% annually to gift my heirs. Call it pre-inheritance. View it as one po...
by msk
Thu Oct 03, 2019 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: [When my children marry, should they sign a pre-nuptial agreement?]
Replies: 95
Views: 7469

Re: Daddy I'm engaged! Pre-nup?

Half of marriages end in divorce or so I hear. The OP has valid concerns: basically Joint Ownership of all wealth or Separation of ownership (pre-nup). I suspect that around half the world if not more have legal structures that tend towards separation of ownership as the default (e.g. Province of Q...
by msk
Thu Oct 03, 2019 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: [When my children marry, should they sign a pre-nuptial agreement?]
Replies: 95
Views: 7469

Re: Daddy I'm engaged! Pre-nup?

Half of marriages end in divorce or so I hear. The OP has valid concerns: basically Joint Ownership of all wealth or Separation of ownership (pre-nup). I suspect that around half the world if not more have legal structures that tend towards separation of ownership as the default (e.g. Province of Qu...
by msk
Wed Oct 02, 2019 10:52 am
Forum: Investing - Theory, News & General
Topic: Why not use Margin Loan as eFund?
Replies: 63
Views: 3679

Re: Why not use Margin Loan as eFund?

IB has particularly low interest rates for margin loans. I would happily use a margin loan at IB as my eFund. That does not apply to other brokerages. Same issue with credit card debt. Interest rates too high. Entire above discussion depends on the interest rates charged by CC, Heloc, brokerage marg...
by msk
Wed Sep 25, 2019 9:24 am
Forum: Personal Consumer Issues
Topic: Wall mount the TV, or use a TV stand?
Replies: 20
Views: 1644

Re: Wall mount the TV, or use a TV stand?

For me the almost "ideal" distance for viewing a 65" TV is to be seated with your eyes at around 130" away. You can work this out starting from the resolution of normal vision, etc. Mounting it on a wall means that you are keeping it further away (compared to using a stand) by some 12" to 18". 130" ...
by msk
Sat Sep 21, 2019 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Early retirement - not worry about withdrawal rate, but focus on portfolio size?
Replies: 68
Views: 5552

Re: Early retirement - not worry about withdrawal rate, but focus on portfolio size?

Using Shiller's reconstructed stock prices, dividends and inflation data from 1871 to 2018 you could have withdrawn 6% of portfolio BALANCE at the end of each year (0.5% per month) and you would have had, on average, a monthly stipend AND portfolio balance that kept pace with inflation all the way t...
by msk
Tue Sep 17, 2019 10:27 am
Forum: Personal Finance (Not Investing)
Topic: "End of Life" Issues
Replies: 30
Views: 3109

Re: "End of Life" Issues

IMHO feeding tubes present one of the most difficult choices our families are faced with. It all happens in slow motion. Patient has difficulties swallowing and it gets steadily worse while he remains in a non comatose state but not lucid enough to simply say no. So family says yes because they cann...
by msk
Tue Sep 17, 2019 9:51 am
Forum: Personal Investments
Topic: Is private wealth management worth it?
Replies: 47
Views: 5858

Re: Is private wealth management worth it?

With $20 million I would just put it all into Vanguard Worldwide, VT, and make sure I never withdraw more than 5% of the portfolio balance in any year. If the market just stays steady, that ought to deliver enough to live on, $1 million a year. Market collapses by 70%, still good for $300k a year. H...
by msk
Tue Sep 17, 2019 9:28 am
Forum: Personal Consumer Issues
Topic: Retirees that have hobbies that make money - what are they?
Replies: 26
Views: 3161

Re: Retirees that have hobbies that make money - what are they?

The ones I had: Rental RE and stock picking backed by options Rental RE takes effort and sooner or later you will find it too much bother. Stock picking with Option trading takes skill and luck. Sooner or later you will find that the paltry extra $ you make takes too much effort and anxiety. Some ho...
by msk
Tue Sep 17, 2019 9:00 am
Forum: Personal Consumer Issues
Topic: Vacation ideas for February
Replies: 39
Views: 2806

Re: Vacation ideas for February

Anywhere south that has a nonstop flight from your location.
by msk
Tue Sep 17, 2019 8:54 am
Forum: Personal Consumer Issues
Topic: Seasoned retirees...
Replies: 52
Views: 4460

Re: Seasoned retirees...

Retired at 55, 20 years ago. Lessons to pass on: Life is not infinitely long, especially healthy life. Satisfy your cravings, for travel or whatever, while you have youthful health. It's much easier to make friends when you have school age children. Extremely difficult after retirement. I have seen ...
by msk
Thu Sep 12, 2019 4:52 am
Forum: Investing - Theory, News & General
Topic: Index Funds Bubble? [Michael Burry article]
Replies: 235
Views: 25066

Re: Index Funds Bubble? [Michael Burry article]

Are stocks over-priced? I feel in my guts, yes! P/Es over 25 is too much for my taste when I am looking for 5% annual appreciation in real terms. But what's the alternative? A crash caused by ETFs lack of liquidity among smaller holdings does not change the underlying earning ability of those smalle...
by msk
Tue Sep 10, 2019 7:36 am
Forum: Personal Consumer Issues
Topic: Quebec City in October
Replies: 23
Views: 1867

Re: Quebec City in October

I lived in Quebec City for a year. Beautiful place! Just walk around and enjoy. Plenty of very nice restaurants. If you see French Canadians going in as customers, just follow them in. They probably know something you as a tourist do not. How do you recognize the Quebecois? Hint: They talk to each o...
by msk
Tue Sep 10, 2019 1:21 am
Forum: Personal Finance (Not Investing)
Topic: Banks requiring fingerprint on a check for non-customers to receive cash
Replies: 87
Views: 5709

Re: Banks requiring fingerprint on a check for non-customers to receive cash

For a country that makes so much fuss about security and identification, the US seems to be falling behind some third world countries. Where I reside, all residents need an ID card, citizens or foreigners. The ID card (think of it as your SS card since it serves similar purposes plus...) has your ph...
by msk
Mon Sep 09, 2019 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: When do you start gifting the max to your family members? When is enough NW totally enough?
Replies: 80
Views: 9355

Re: When do you start gifting the max to your family members? When is enough NW totally enough?

LOL. Saving for what if you are leaving them an inheritance in the millions anyway? At a certain point in life (advanced age, high NW) an extra $ has much less utility value to you than to your heirs. For Wants rather than Needs. Once you have taken care of your needs (e.g. pension/annuities, etc.),...
by msk
Fri Sep 06, 2019 10:39 am
Forum: Investing - Theory, News & General
Topic: Index Funds Bubble? [Michael Burry article]
Replies: 235
Views: 25066

Re: The passive investment bubble, a short video from IBKR

Moral of the story: do not panic. Let others panic the SP500 into a free fall and buy cheap. The makings of another Flash Crash... Do NOT use Stop Loss Sell orders for your ETFs. The last Flash Crash was a painful lesson for me personally. Lost $100k in a few minutes on good old stodgy BRK.
by msk
Fri Sep 06, 2019 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Charitable gift annuity
Replies: 14
Views: 559

Re: Charitable gift annuity

Please explain. You are making the donation? How does that end up with your receiving an annuity? From your alma mater? Or are you making the donation(s) in the form of annuities?
by msk
Fri Sep 06, 2019 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Savings Percentage Calculation
Replies: 51
Views: 3101

Re: Savings Percentage Calculation

Save and invest 30% of after tax income and blow the other 70%. YOLO! You Only Live Once! Income: do not ignore your investment income. If using rental RE, this extra, non-job, income is very visible. With all-stocks ETFs the volatility masks the average income. Nevertheless it can be very substanti...
by msk
Fri Sep 06, 2019 7:02 am
Forum: Personal Consumer Issues
Topic: Did I commit a tipping faux pas?
Replies: 99
Views: 11001

Re: Did I commit a tipping faux pas?

I recently moved... I hired a moving company to haul my stuff from the old house to the new one. Their fee was about $575. They sent two guys out to do the job, which took about five hours. Now, let's see. The guys get paid for their labor, that their employer charges over $100 per hour. How much t...
by msk
Fri Sep 06, 2019 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Stressed Over Money 25 Yr. Old
Replies: 65
Views: 5042

Re: Stressed Over Money 25 Yr. Old

I recall my mid 30s having a discussion with my buddy about how much to save and how much to spend. We were both worried that too much focus on accumulating wealth may deprive us unnecessarily of the good and frivolous things in life. Our conclusion was to save and invest 30% of net income and blow ...
by msk
Tue Sep 03, 2019 2:03 am
Forum: Non-US Investing
Topic: risk tolerance - too much in bonds?
Replies: 34
Views: 2592

Re: risk tolerance - too much in bonds?

Advice to my adult kids: 100% stocks (worldwide or all US as per own taste). Save and invest 30% of after tax income. Do that and you will retire wealthy. Use a brokerage with low Margin Interest rates. IB charges just over 4%. Use that facility as your Emergency Fund. Unlikely that you will ever ha...
by msk
Tue Sep 03, 2019 1:34 am
Forum: Investing - Theory, News & General
Topic: Real Estate vs Equities
Replies: 29
Views: 2671

Re: Real Estate vs Equities

Advice to my kids: As soon as you have a steady job that you expect to stay with for several years, buy an appropriately-sized home and pay off the mortgage asap. You'll have a toehold in the RE market and an excellent tenant, yourself. Not only that, you will also become aware of the local RE marke...
by msk
Sun Sep 01, 2019 11:27 pm
Forum: Personal Consumer Issues
Topic: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help
Replies: 45
Views: 5730

Re: Neighbor wants me to sell her my driveway but parking is tight. Detailed analysis help

There is always a price at which it is worthwhile for you to sell the parking spaces (e.g. selling her the entire duplex!), and there is always a rent at which it's worthwhile for you to rent out one space, and another rent at which it's worthwhile for you to rent two spaces. You know in your heart ...
by msk
Sat Aug 31, 2019 11:02 am
Forum: Personal Consumer Issues
Topic: College age male: How much money for food?
Replies: 138
Views: 5890

Re: College age male: How much money for food?

If you can't live successfully on minimum wage when you can obviously make choices, you probably won't be that good at it when you make a lot more. Average US Minimum Wage $7.25/hr or $1250 pm. Excellent start for somebody living OFF campus. Starting with my kids' college recommendations (dorm, mea...
by msk
Sat Aug 31, 2019 10:34 am
Forum: Personal Consumer Issues
Topic: College age male: How much money for food?
Replies: 138
Views: 5890

Re: College age male: How much money for food?

As soon as he sounds approachable on the subject, I'm going to talk basic cooking strategy for him. My plan is to tell him to buy some kind of protein (pork chops, chicken, beef, etc.), season with the "quad" (kosher salt, pepper, garlic powder, onion powder) and throw it in either the crock pot (w...
by msk
Fri Aug 30, 2019 1:47 am
Forum: Personal Consumer Issues
Topic: Vehicle idle stop-start when parking
Replies: 54
Views: 3748

Re: Vehicle idle stop-start when parking

From the Hyundai website: Deactivating the Idle Stop and Go is as easy as pressing the button inside the driver’s side door, and reactivating it requires just one more press of the button. By default, the system will be activated every time you turn the car on. I suspect that most makes have a butt...
by msk
Fri Aug 30, 2019 1:29 am
Forum: Personal Consumer Issues
Topic: College age male: How much money for food?
Replies: 138
Views: 5890

Re: College age male: How much money for food?

I would look at the cost of the college dining plan as a starting point.... +1 Excellent answer. When I went to college and moved out of the dorm my parents used the dorm expense (room and meals) as a budget starting point for a shared housing and food budget. I was okay with that and it worked out...
by msk
Fri Aug 30, 2019 12:55 am
Forum: Personal Consumer Issues
Topic: College age male: How much money for food?
Replies: 138
Views: 5890

Re: College age male: How much money for food?

Just check the college's meal plan. My kids' a couple of years ago came to $500 each per month in a MCOL city. The meal plan is often designed to be balanced and nutritious and is basically "eating out" for all meals. Hence it is generous and most kids opt out of it as soon as they can to save money...
by msk
Thu Aug 29, 2019 8:59 am
Forum: Personal Finance (Not Investing)
Topic: While there is a high school question - my daughter wants to graduate early
Replies: 76
Views: 3737

Re: While there is a high school question - my daughter wants to graduate early

My daughter graduated at 20, ever so slightly young. Upon turning 21 she got married to another 21 year old who had gone blind at 20 :( Hope your kid does not consider herself mature enough to get married at 19...
by msk
Thu Aug 29, 2019 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage with sale of taxable account assets?
Replies: 87
Views: 4658

Re: Pay off mortgage with sale of taxable account assets?

WhiteLightning wrote:
Wed Aug 28, 2019 8:31 pm
$200k per year household income
"Save and invest 30% of after tax income. Paying off principal on a home mortgage counts as investing"
Pay off $50k per annum... Capital appreciation on the home (hopefully) is tax advantaged. No need for complicated arithmetic.
by msk
Thu Aug 29, 2019 3:07 am
Forum: Personal Finance (Not Investing)
Topic: What makes your dream house so special?
Replies: 41
Views: 3185

Re: What makes your dream house so special?

We have two dream houses, each excellent for half the year because of climates, lousy for the other half year. Cold climate, excellent for summer, bought as a recent build by an architect for his own use but he was going broke: 3500 scf, world class ocean view (lakesides invariably deliver mosquitos...
by msk
Wed Aug 28, 2019 1:33 am
Forum: Investing - Theory, News & General
Topic: Volatile stocks for fun: Limit Order or Stop Limit Order for maximum profit
Replies: 25
Views: 1356

Re: Volatile stocks for fun: Limit Order or Stop Limit Order for maximum profit

Stop Loss orders work most of the time, but recall the Flash Crash? I lost in a major way on BRK (anything more stable than good old Berkshire Hathaway?) when it fell drastically for a few minutes. My order executed the Sell way below my Stop Loss level and a minute later had recovered. Net loss for...
by msk
Tue Aug 27, 2019 4:49 am
Forum: Investing - Theory, News & General
Topic: Volatile stocks for fun: Limit Order or Stop Limit Order for maximum profit
Replies: 25
Views: 1356

Re: Volatile stocks for fun: Limit Order or Stop Limit Order for maximum profit

Learn how to use options. It's much more fun. Play money never gets you rich. If you are young enough, go big and learn BIG lessons. I gave up playing individual stocks and options after retirement. Too much anxiety.
by msk
Tue Aug 27, 2019 4:39 am
Forum: Non-US Investing
Topic: What is the perpetual SWR for a 100% VWRD/VWRA portfolio?
Replies: 32
Views: 2266

Re: What is the perpetual SWR for a 100% VWRD/VWRA portfolio?

This may or not help the OP, but I wished to instruct my heirs as to what to do with their inheritances from me, after I had experimented with numerous withdrawal strategies (including age-dependent strategies, irrelevant for anyone who is not average actuarially!): 1. Any portfolio will last foreve...
by msk
Mon Aug 26, 2019 8:31 am
Forum: Personal Consumer Issues
Topic: Another car affordability question, YOLO vs. extreme FI
Replies: 64
Views: 3527

Re: Another car affordability question, YOLO vs. extreme FI

Sensible rules of thumb that worked for me: 1. Save and invest 30% of your after tax income. Paying off principal on a home mortgage counts as investing, not the interest part 2. A home should cost no more than 3x income (2.5x combined income) 3. Car(s) should be worth no more than six months income...
by msk
Sun Aug 25, 2019 11:54 pm
Forum: Personal Finance (Not Investing)
Topic: What do you think about this $4M house idea?
Replies: 103
Views: 7652

Re: What do you think about this $4M house idea?

I think bringing in loans/mortgages/furniture just obfuscates the arithmetic. Let us assume that the property (actually mostly the lot! The structure is never worth much at HCOL locations) is today worth $4million. So you pay cash. Next. Rent it out to some heavy user traffic for x years. How much d...
by msk
Sat Aug 24, 2019 2:45 am
Forum: Non-US Investing
Topic: Strategy to move US-based funds to Ireland from a country with capital gains tax
Replies: 8
Views: 722

Re: Strategy to move US-based funds to Ireland from a country with capital gains tax

Open a new account with a brokerage that allows you to buy Ireland based ETFs. All your new purchases should take place in your new account. Assuming that your country does not have some tax treaty with the US that neither alleviates your liquidation of VTI nor the Estate Tax threat, let VTI do its ...
by msk
Thu Aug 22, 2019 9:14 am
Forum: Personal Investments
Topic: $1M cash: how to invest
Replies: 40
Views: 3585

Re: $1M cash: how to invest

37 is half my age, and at that age my immediate, 2-minute decision would have been (and I consider it still the right choice), pay off all mortgages (I had several going as I was in RE), and place the balance, lump sum, 50% in SPY (the SP500) and 50% in BRK (Berkshire Hathaway). The only diversion I...
by msk
Thu Aug 22, 2019 8:59 am
Forum: Personal Finance (Not Investing)
Topic: Budget for a new professional out of college
Replies: 48
Views: 3096

Re: Budget for a new professional out of college

1. Save and invest 30% of after tax income. From Jan 2020 till retirement. She can blow the rest on anything. YOLO (you only live once). Since she has just finished being a student, that 70% remaining will be like a luxury! By age 45 just her investment income may well eclipse her job income. Other ...
by msk
Thu Aug 22, 2019 7:56 am
Forum: Personal Finance (Not Investing)
Topic: White collars- How much is your work downtime?
Replies: 203
Views: 17038

Re: White collars- How much is your work downtime?

I had 4000+ staff reporting to me and I always made it perfectly plain that I would be happy if each gave just 6 hours of their 8 hour days for the job. You can sense who are time wasters simply from their phone calls; like taking 10 minutes with polite greetings (really? asking about the new baby?)...
by msk
Thu Aug 22, 2019 7:41 am
Forum: Personal Investments
Topic: Anyone else more aggressive in retirement than required?
Replies: 52
Views: 4350

Re: Anyone else more aggressive in retirement than required?

I personally view retirement withdrawal plans that end up with a retiree checking out with several multiples of starting portfolio balance to be some combination of poor planning, lack of creativity and money-hoarding versus a badge of honor. I'd have utility for 10X my current retirement income - ...
by msk
Wed Aug 21, 2019 2:46 am
Forum: Personal Consumer Issues
Topic: Ponder this, BH's... is Ben & Jerry's worth it?
Replies: 142
Views: 10566

Re: Ponder this, BH's... is Ben & Jerry's worth it?

I was first recommended B&J by my kids 30+ years ago when it was still just a tiny business in Vermont. Decades later you can now find it in many obscure corners of the world. Loads of people think it's worth it! Me too, from all those decades ago. Its competitor IMHO is Baskin Robbins, not store br...
by msk
Wed Aug 21, 2019 2:25 am
Forum: Personal Finance (Not Investing)
Topic: Life Advice: deciding what you want to do.
Replies: 49
Views: 4694

Re: Life Advice: deciding what you want to do.

Finish the two semesters then LISTEN to your Mom and Dad. They have made a success of their lives and know you better than anyone here ever can.
by msk
Tue Aug 20, 2019 11:03 am
Forum: Personal Investments
Topic: Anyone else more aggressive in retirement than required?
Replies: 52
Views: 4350

Re: Anyone else more aggressive in retirement than required?

Retired 20 years ago, current age 75 with COLA pension enough for my needs. 100% stocks portfolio that I plan to retain to my grave. I give away to my potential heirs 3.5% of my portfolio each year. If you can withstand the stomach churns as the market tanks, and have enough NW, I see no special rea...
by msk
Tue Aug 20, 2019 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Is my advice to my cousin correct ? [OK to spend, not save, extra income]
Replies: 32
Views: 3743

Re: Is my advice to my cousin correct ?

I know several widows closely. Only one has moved from the family home. Reason was that she could no longer afford it. All the rest are still in their own over-sized family homes, even to the extent of keeping rooms ready for grandchildren to visit. I sense that the homes' familiarity and homeliness...