Search found 3036 matches

by smitcat
Fri Apr 19, 2019 1:50 pm
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

I decided to delete all tabs in my personal/family finance spreadsheet that related to retirement projections and I'm not messing with retirement calculators anymore. Why have I wasted so much time on this? I enjoy working and earning money--I don't enjoy sitting around twiddling my thumbs, and I e...
by smitcat
Fri Apr 19, 2019 1:48 pm
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

I do not understand the logic behind this. At 40 - your best case - you have at most 30 good years of life, but still first 10 are a lot better than the last 10. So 3-4 yare are ~10%, but maybe worth life 20%. On the other hand I do not see any difference between 2 and 2.5% WR. I don't think you ge...
by smitcat
Fri Apr 19, 2019 1:26 pm
Forum: Personal Consumer Issues
Topic: At what point would you hire someone vs. cut down a tree yourself?
Replies: 62
Views: 1886

Re: At what point would you hire someone vs. cut down a tree yourself?

1. Can I do it safely? You mentioned the small tree being near a road. Is there a lot of traffic on this road? Is it possible when you cut down these branches that it might hit a vehicle driving by or a vehicle might run over the fallen branch? If so, do you have warning triangles or something to a...
by smitcat
Fri Apr 19, 2019 1:23 pm
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

But if one can reasonably get from 40 times expenses to 50 times expenses in 3 or 4 years, and as a result have a better chance of surviving all but the most catastrophic of situations, isn't that trade off worth it? Maybe not for someone who is 60 years old, but someone who is 50 it might be. And ...
by smitcat
Fri Apr 19, 2019 1:20 pm
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

I decided to delete all tabs in my personal/family finance spreadsheet that related to retirement projections and I'm not messing with retirement calculators anymore. Why have I wasted so much time on this? I enjoy working and earning money--I don't enjoy sitting around twiddling my thumbs, and I e...
by smitcat
Fri Apr 19, 2019 1:14 pm
Forum: Investing - Theory, News & General
Topic: How and when did you do it - to get to 1 Million
Replies: 75
Views: 13864

Re: How and when did you do it - to get to 1 Million

Eh, debt isn't evil. Everything in moderation, a reasonable mortgage, a small amount of student loans, a small business loan Note that I said, no. 9, near the end of the journey. Early on, a mortgage is a necessity. If you are a small-business owner, certainly. But that's about it. Later on ... Deb...
by smitcat
Fri Apr 19, 2019 11:40 am
Forum: Personal Finance (Not Investing)
Topic: When did you start spending more and saving less?
Replies: 76
Views: 4372

Re: When did you start spending more and saving less?

That is taking the example very literally. What I was trying to illustrate is that I was not reducing savings to an insignificant or non-existent amount, those are not exact numbers because I have not plans to calculate the actual numbers. What I am doing is giving myself permission to spend more o...
by smitcat
Fri Apr 19, 2019 10:50 am
Forum: Personal Finance (Not Investing)
Topic: When did you start spending more and saving less?
Replies: 76
Views: 4372

Re: When did you start spending more and saving less?

The OP was about people who had felt they had saved enough or feel they are financially independent starting to spending more on discretionary items in the present instead of just continuing to pile it deeper and deeper. Personally, I would not consider saving zero as saving less, it is not saving....
by smitcat
Fri Apr 19, 2019 10:45 am
Forum: Personal Finance (Not Investing)
Topic: When did you start spending more and saving less?
Replies: 76
Views: 4372

Re: When did you start spending more and saving less?

It is hard to see how any saving, even saving less is the road to poverty. ...Our current saving is zero. That's less than what it was (much less). Our current spending has increased by over $65,000 annually. That's more than what it was. I don't suggest trying it over the long term despite our for...
by smitcat
Fri Apr 19, 2019 10:15 am
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

So, what would you suggest to prepare for such dire circumstances. Your previous thought of working just a few more years seems woefully inadequate for this type of apocalyptic thinking. Maybe one would better off investing in farm land, guns, and ammunition? Perhaps multiple citizenships, farmland...
by smitcat
Fri Apr 19, 2019 10:10 am
Forum: Personal Finance (Not Investing)
Topic: When did you start spending more and saving less?
Replies: 76
Views: 4372

Re: When did you start spending more and saving less?

September 19, 2016. Had saved and invested for over twenty years. Impossible to know if it will have been enough. Since then I have been paying for two kids' private college educations in addition to all of our other regular expenses which are not low. We are no longer saving and actually spending ...
by smitcat
Fri Apr 19, 2019 8:49 am
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

The great depression essentially led to WWII, probably the most deadly single conflict in human history, what would a scenario worse than the great depression lead to? Nuclear war and annihilation, perhaps. Or widespread famine. Or moon colonization. Or maybe all of the above. Who knows? But isn’t ...
by smitcat
Fri Apr 19, 2019 5:49 am
Forum: Personal Consumer Issues
Topic: Basement water issues
Replies: 30
Views: 2045

Re: Basement water issues

In replaced gutters. Needed to be done anyway, but did little to help basement flooding. Had exterior of foundation dug up, covered with watherproofing, and this really helped alot. Cost $2000 for aboit 1/4-1/3 of the foundation (where we had flooding). Only a tiny amt of water came in one time sin...
by smitcat
Thu Apr 18, 2019 7:35 pm
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

Was not the Great Depression worse than anything that had occurred prior to the Great Depression? And even if it wasn't, at some point in the past, something (whatever that economic event was) was worse than everything that had occurred previously. And undoubtedly that something will occur again. T...
by smitcat
Thu Apr 18, 2019 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: ORP optimism
Replies: 6
Views: 573

Re: ORP optimism

As long-time member (mostly lurking), I've read folks saying ORP's projections tilt strongly toward optimism. Does that apply only to the default settings? Or would that optimistic tilt carry over even with compensations? When I run the scenarios, I adjust the following: --Inflation for spending to...
by smitcat
Thu Apr 18, 2019 3:03 pm
Forum: Personal Investments
Topic: Is the disaster scenario for stocks a reason not to invest or pull out of the market?
Replies: 94
Views: 6756

Re: Is the disaster scenario for stocks a reason not to invest or pull out of the market?

Bogleheads are a very pessimistic group of investors.... At least many of the most active ones seem supremely so, even though John Bogle's guidance is based on optimism about the future. Agree. Many active Bogleheads continually bring up the idea of investing against Black Swan events... the entire...
by smitcat
Thu Apr 18, 2019 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: When did you start spending more and saving less?
Replies: 76
Views: 4372

Re: When did you start spending more and saving less?

DonIce wrote:
Thu Apr 18, 2019 2:30 pm
Don't understand the question. You should always be spending on the things that add meaningful value to your life, and rarely/never spending on things that don't.
Yes - agreed.
by smitcat
Thu Apr 18, 2019 2:44 pm
Forum: Personal Consumer Issues
Topic: Bogleheads privacy warning
Replies: 61
Views: 5168

Re: Bogleheads privacy warning

I understand wealth is highly spatially correlated. You can (within reason) guess your neighbors' net worth as being somewhat close to your own. I don't know why you say this. While I don't know my neighbor's net worth, I'm quite sure it is much different than my own. Why? Well, it might be a lot h...
by smitcat
Thu Apr 18, 2019 12:39 pm
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

Can't argue with that, but how many hours and days of one's life must you use to get to 40x? Choices, values, and more choices. I calculated it not long ago, and assuming a 20% withdrawal rate and ~5% real returns, it would take 5 years to go from 25x to 33x. If real returns were 2%, it would take ...
by smitcat
Thu Apr 18, 2019 11:58 am
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

Please show where the failure rate is 80% for a 50 year retirement with SS of $40k-50k a year kicks in after 25 years. On the other hand, taking on 2 extra years at a young age is not the end of the world if work is not unbearable and affecting one's health and family. Firecalc 40 year old. 1 milli...
by smitcat
Thu Apr 18, 2019 11:31 am
Forum: Personal Consumer Issues
Topic: House with Permanent Wood Foundation - Would You Buy?
Replies: 12
Views: 1050

Re: House with Permanent Wood Foundation - Would You Buy?

I am in the process of purchasing a 2nd/vacation home and it was revealed yesterday in the inspection that the foundation is wood. I have not encountered this before and my internet research is offering conflicting opinions ranging from "if it's done correctly it can last as long as a concrete foun...
by smitcat
Thu Apr 18, 2019 11:22 am
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

Don't forget the word modest . That's my favorite part. :D At the same time, if you can pull off a 50% savings rate that is awesome. :beer "At the same time, if you can pull off a 50% savings rate that is awesome" You can if you tax rate is not too high.... If you have enough tax-deferred space, it...
by smitcat
Thu Apr 18, 2019 11:18 am
Forum: Personal Consumer Issues
Topic: After financial independence, do you play credit card bonus games?
Replies: 83
Views: 5242

Re: After financial independence, do you play credit card bonus games?

Starfish wrote:
Wed Apr 17, 2019 10:07 pm
I have the Chase Reserve with 450$ fee and it's a decent deal. I plan to keep it long term.
First of all it is actually a 150$ card because 300$ are returned towards travel.
Yes - exactly , before you count any other benefits.
That is why we have two of these and one similar AMEX.
by smitcat
Thu Apr 18, 2019 11:13 am
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

I believe KlangFool advocates it in terms of annual expenses. Save 1 year of expenses each year. He has stated that roughly equates to a 33% gross savings rate: 1/3 spending; 1/3 taxes; 1/3 savings. ... i.e. 50% of after-tax income, which is where that 50% comes from. "... i.e. 50% of after-tax inc...
by smitcat
Thu Apr 18, 2019 11:10 am
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

I always find it odd that people who seem to think you need to get to 40x because the future returns might be really poor, then often turn around and claim how easy it is to get there by assuming "normal" returns. I agree that more money and savings is better, but it does come at an opportunity cos...
by smitcat
Thu Apr 18, 2019 10:53 am
Forum: Personal Finance (Not Investing)
Topic: leaving state job / pension. ..... bad idea?
Replies: 24
Views: 1812

Re: leaving state job / pension. ..... bad idea?

Hello. I'm at a crossroad in my life where I just can't decide what to do with my career. I'm 44 years old and have worked in government for the last 16 years. Problem is I started maxed out at 82k and now make 112k per year; those increases have been cost of living adjustments only; no merit pay o...
by smitcat
Thu Apr 18, 2019 10:43 am
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

I don't know that [Klangfool] recommends a 50% savings rate, but he certainly practices that. He certainly doesn't recommend a 100% savings rate. I think he does recommend saving 50%, although he words it as saving 100% of current annual expenses. Not sure if taxes are included in expenses though. ...
by smitcat
Thu Apr 18, 2019 10:39 am
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

It takes about 6 years in most case to go from 25x to 40x with normal returns(6%) and modest savings rate (.5x). If we get poor returns (2%) real then it takes longer. But if we get 2% real, that 4% is going to think about going back to work as they get poorer and poorer every year. And obviously y...
by smitcat
Thu Apr 18, 2019 10:37 am
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

I always find it odd that people who seem to think you need to get to 40x because the future returns might be really poor, then often turn around and claim how easy it is to get there by assuming "normal" returns. I agree that more money and savings is better, but it does come at an opportunity cos...
by smitcat
Thu Apr 18, 2019 9:23 am
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

It takes about 6 years in most case to go from 25x to 40x with normal returns(6%) and modest savings rate (.5x). If we get poor returns (2%) real then it takes longer. But if we get 2% real, that 4% is going to think about going back to work as they get poorer and poorer every year. And obviously y...
by smitcat
Thu Apr 18, 2019 9:11 am
Forum: Personal Consumer Issues
Topic: Basement water issues
Replies: 30
Views: 2045

Re: Basement water issues

I think your best recourse is to sue the flipper and/or home inspector for failing to disclose this issue. This could be very difficult to do and the real issue is that the cost to sue could be greater than the cost to remediate. We looked into this on our house but let’s say we spent $10,000 on an...
by smitcat
Thu Apr 18, 2019 8:05 am
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

I guess the difference comes from some people believing the main uncertainty in life is how much time we have left, and others believing the issue is how much money they have left. It is more about how unpleasant people find work and how much it interfers with their lives. I don't think that is nec...
by smitcat
Thu Apr 18, 2019 7:53 am
Forum: Personal Finance (Not Investing)
Topic: How to find an engineer to inspect a dam wall
Replies: 23
Views: 1358

Re: How to find an engineer to inspect a dam wall

Two small springs feed the pond/lake. There is only one way for the water to leave, via a pipe that runs through the dam. I suspect it is only a few feet deep but the realtor claimed it was 24 feet deep, if so I guess it would be a lake, in any case a lot of water. This area is somewhat remote so n...
by smitcat
Wed Apr 17, 2019 6:39 pm
Forum: Personal Consumer Issues
Topic: Basement water issues
Replies: 30
Views: 2045

Re: Basement water issues

I've been in several basements where there is a trench around the perimeter that drains the water to a sump pump and they do work. However, I would get a couple more quotes as the one you mentioned seemed on the high side. Interior drain tile projects I assume are always priced per linear foot, so ...
by smitcat
Wed Apr 17, 2019 9:55 am
Forum: Investing - Theory, News & General
Topic: That's enough for me in 2019
Replies: 737
Views: 63366

Re: That's enough for me in 2019

For me OMYs are merely a result of the powerful financial incentive I receive from them and the lack of any compelling driver for retiring. So its not about monsters under the bed? - IMO the answer lies with ourselves not with a projection of alternative reasons. Not in my case. I have accepted I h...
by smitcat
Wed Apr 17, 2019 9:24 am
Forum: Investing - Theory, News & General
Topic: That's enough for me in 2019
Replies: 737
Views: 63366

Re: That's enough for me in 2019

There is a reason you read stories about people with modest income dying and leaving millions, they build habits early in life that they can never break free of. I admit almost every time I read this forum I walk away wondering if I have enough (which I do). I am reasonably sure most here still che...
by smitcat
Wed Apr 17, 2019 9:12 am
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

Just one more note to all the people who are placing too much weight on a great depression crash the year or 5 after you retire. You are arguing an unbalanced equation. That leads to some extremely irrational thought. I view dying before I retire as a failure. Certainly more of a failure than going...
by smitcat
Wed Apr 17, 2019 9:09 am
Forum: Investing - Theory, News & General
Topic: That's enough for me in 2019
Replies: 737
Views: 63366

Re: That's enough for me in 2019

You may well be right about this board not being as bearish/conservative as I might have thought. What I actually think is that there is a relatively high appreciation of risk on BH. How that plays out on the bull/bear continuum depends on the individual. This board is very "bullish" on stocks comp...
by smitcat
Wed Apr 17, 2019 9:06 am
Forum: Investing - Theory, News & General
Topic: That's enough for me in 2019
Replies: 737
Views: 63366

Re: That's enough for me in 2019

This board is very "bullish" on stocks compared to the general population. It routinely advises people that have never been in the market to get in with fairly high allocations to stocks (40-80% are typical recommendations here). And it does this regardless of current economic conditions, market va...
by smitcat
Wed Apr 17, 2019 8:58 am
Forum: Investing - Theory, News & General
Topic: That's enough for me in 2019
Replies: 737
Views: 63366

Re: That's enough for me in 2019

You may well be right about this board not being as bearish/conservative as I might have thought. What I actually think is that there is a relatively high appreciation of risk on BH. How that plays out on the bull/bear continuum depends on the individual. This board is very "bullish" on stocks comp...
by smitcat
Wed Apr 17, 2019 8:10 am
Forum: Personal Consumer Issues
Topic: Basement water issues
Replies: 30
Views: 2045

Re: Basement water issues

What have your neighbors done in the immediate area to completely solve for this problem?
by smitcat
Tue Apr 16, 2019 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Bogleheads, why won't anyone hire me?
Replies: 194
Views: 17332

Re: Bogleheads, why wont anyone hire me?

This nonsense that you MUST go to top schools has gotten out of hand. In some cases there is truth behind it. If you are in an entry/mid-level job, getting any MBA will probably be worthwhile, particularly if it is an industry where an MBA is the next logical degree needed to get ahead, and especia...
by smitcat
Tue Apr 16, 2019 8:05 pm
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

"If you have 80X you expenses when you live frugally then you have much less when you live lavishly. There is no going back." Of course you can always cut back and live less expensively when you choose.... you can always go back for a short or long period of time. Haha, have you tried? When I was 2...
by smitcat
Tue Apr 16, 2019 5:35 pm
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

"That's the draw of the MMM side of it. Optimize your life and live minimally so that if you do need to take a risk to improve your lot in life you can afford to do so." We were never drawn by doing anything 'minimally' and minimally never seemed to be optimizing anything. So I guess that is why we...
by smitcat
Tue Apr 16, 2019 11:20 am
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

I propose that balance is always very important - never spend all funds for the present and never plan to spend all funds in the future. Challenge yourself to acquire more income but share the growing income each year between living in the present and saving for the future. Each persons numbers wil...
by smitcat
Tue Apr 16, 2019 10:39 am
Forum: Personal Consumer Issues
Topic: What Are Your Simple Pleasures?
Replies: 100
Views: 5336

Re: What Are Your Simple Pleasures?

TheTimeLord wrote:
Tue Apr 16, 2019 10:32 am
telemark wrote:
Tue Apr 16, 2019 10:29 am
Shark wheels with Zealous bearings on my Penny Nickel.
Are you just randomly stringing words together?
Skateboard....
by smitcat
Tue Apr 16, 2019 10:03 am
Forum: Personal Consumer Issues
Topic: After financial independence, do you play credit card bonus games?
Replies: 83
Views: 5242

Re: After financial independence, do you play credit card bonus games?

OP, I see your point better now. Once a person is FI it is possible they're less inclined to deal with the loss of simplicity that cc bonus requires except for maybe the really good offers. Personal preference for sure. I'm still willing to play the game for now. FI doesn’t always mean retired. For...
by smitcat
Tue Apr 16, 2019 8:05 am
Forum: Personal Investments
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 441
Views: 35020

Re: Mr. Money Mustache, SWR, and equity allocation

You life is the most precious asset you have and is rapidly depreciating (or at least it has a high risk embedded). Starfish your post was excellent but this line really distills it down. Where is the inflection point for trading the vitality of youth for financial resources to enjoy in old age? An...
by smitcat
Tue Apr 16, 2019 7:53 am
Forum: Personal Finance (Not Investing)
Topic: Bogleheads, why won't anyone hire me?
Replies: 194
Views: 17332

Re: Bogleheads, why won't anyone hire me?

I haven’t read all the replies and want to put more thought into a reply later, but I just wanted to say a few things. A. The job market is not as “great” as the stats make it sound. Most new jobs have been in retail and fast food. B. I agree it’s definitely who you know. And luck. C. My experience...
by smitcat
Tue Apr 16, 2019 7:46 am
Forum: Personal Finance (Not Investing)
Topic: Bogleheads, why won't anyone hire me?
Replies: 194
Views: 17332

Re: Bogleheads, why won't anyone hire me?

...Worse part is when it is 4:30 on a Friday and we are all done for the week (all shipments went out), we still need to sit and wait until 5. A bit depressing... Maybe I am not being realistic, I just need to be patient. Seriously? The worst part of your job, at age 28, is waiting from 4:30 to 5:0...