Search found 119 matches

by ebrasmus21
Thu Oct 05, 2017 8:41 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone go 100% Ally or another online bank for all banking needs?
Replies: 61
Views: 4898

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

Ally for high-interest savings (emergency fund), USAA for all other banking. I've never had a brick-and-mortar bank. My first bank was USAA and I used to do all my banking by mail before everything went online and it got a lot easier. I've never needed a physical bank once in 25 years of banking. B...
by ebrasmus21
Wed Oct 04, 2017 4:08 pm
Forum: Investing - Help with Personal Investments
Topic: First time home buyer - gut check
Replies: 19
Views: 1304

Re: First time home buyer - gut check

I'd do whatever it takes to get that 20% down payment. It's an option for you, some will never afford, but you most certainly can. Better APR, no PMI, and more equity if you need/want to move. +1 If you have PMI, about 3 months after you buy, you will be posting a thread named "Help, how do I get r...
by ebrasmus21
Tue Oct 03, 2017 12:48 pm
Forum: Investing - Help with Personal Investments
Topic: General Financial Planning Philosophy
Replies: 11
Views: 1247

Re: General Financial Planning Philosophy

Thank you to everyone that has responded. I appreciate the thoughts, ideas and wisdom that's shared on this forum everyday.
by ebrasmus21
Mon Oct 02, 2017 4:45 pm
Forum: Investing - Help with Personal Investments
Topic: General Financial Planning Philosophy
Replies: 11
Views: 1247

Re: General Financial Planning Philosophy

The vast majority of people in the U.S. who have children don't have any life insurance. There are also a lot of single parents. $250k is not an insignificant amount of life insurance for one or even two children, especially if there are other assets and a spouse who could work. Do you and your wif...
by ebrasmus21
Mon Oct 02, 2017 4:34 pm
Forum: Investing - Help with Personal Investments
Topic: General Financial Planning Philosophy
Replies: 11
Views: 1247

Re: General Financial Planning Philosophy

As a 40 year survivor of Hodgkin's Lymphoma, I understand your dilemma. Getting out from under the sword of Damocles is a tough survivor mental health problem. DW is also a working professional. This implies the 250K life policy does not need to replace your earning ability. It does need to lessen ...
by ebrasmus21
Mon Oct 02, 2017 3:50 pm
Forum: Investing - Help with Personal Investments
Topic: General Financial Planning Philosophy
Replies: 11
Views: 1247

General Financial Planning Philosophy

I'd like to ask for some opinions/guidance regarding "big picture" financial planning for me the DW. We are both 30 and working professionals. Well, the DW got laid off and is currently applying for new positions. For 2016 we were in the 25% tax bracket. Right now saving in tIRA + 401k + HSA with th...
by ebrasmus21
Mon Oct 02, 2017 12:22 pm
Forum: Investing - Theory, News & General
Topic: Pension shortfalls and changes in Muni bond allocation?
Replies: 14
Views: 1645

Re: Pension shortfalls and changes in Muni bond allocation?

Is there one over-arching error all these pension funds made that got us here today? How come the pension funds aren't fat and happy like so many of the BH here in lieu of the last ten years? I understand that a pension fund and an individual are massively different but could you *explain like I'm ...
by ebrasmus21
Sun Oct 01, 2017 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: LTD: need some eyeballs and explanations [Long Term Disability]
Replies: 3
Views: 420

Re: LTD: need some eyeballs and explanations

I've been doing some research on LTD as well. My employer offers a group plan but as I've learned the group policy could be problematic should the need to use it ever arise. Selfishly, I'm hoping someone qualified will respond so I can continue to learn along with you. With Guardian was the underwri...
by ebrasmus21
Sat Sep 30, 2017 7:30 pm
Forum: Investing - Theory, News & General
Topic: $10 million+ - Still Working and LBYM
Replies: 162
Views: 16171

Re: 3 Comma Club - Still Working and LBYM

Convert it to Yen and you are in the 3 comma club. (I need to convert to Zimbabwean dollar to reach the 3 comma club :) ). We used to live on 110 to 120% of our income when I made 40K. (had gone back for additional medical training/ fellowship). Now that we make >400K /yr we spend somewhat more fre...
by ebrasmus21
Sat Sep 30, 2017 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: loosening the purse strings a bit at 37?
Replies: 30
Views: 3887

Re: loosening the purse strings a bit at 37?

I think the consensus recommendation will be to keep plugging away regarding saving a high % of your income. I'm not qualified to give any recommendations or advice but I hope when I'm 37 I have saved what you have already. Well done!
by ebrasmus21
Fri Sep 29, 2017 3:57 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

To speak of 50K and 500K watches would be a level of blasphemy this forum would not and could not handle. Favorite moment from 30 Rock -- when Tracy Jordan is informed of a devastating $50K fine for some indiscretion, he slips off his gaudy watch, waves it around, and says "Can anybody cut this in ...
by ebrasmus21
Fri Sep 29, 2017 3:33 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

Is the 5K watch "limit" or are there $50K watches and $500K watches too? How come we never discuss them here? Is the $5K watch so called "sweet spot" to show the world that one has arrived? To speak of 50K and 500K watches would be a level of blasphemy this forum would not and could not handle.
by ebrasmus21
Fri Sep 29, 2017 2:09 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

The level of deft thread-jacking and troll posting that HomerJ has done on this topic is truly impressive. I don't mean that sarcastically either - he has several pages of posts going that attempt to argue and answer questions that I *the OP* never even asked. LOL. Internets at its finest. I don't ...
by ebrasmus21
Fri Sep 29, 2017 12:19 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

The difference between the Rolex and the Casio is this: I will leave my Rolex to my son. He will wear it on his wrist. He can leave it to his son. He will wear it on his wrist. If that means nothing to you, that's fine. It means something to me. Hmmm. My kids don't wear watches. I like to think the...
by ebrasmus21
Fri Sep 29, 2017 12:12 pm
Forum: Investing - Theory, News & General
Topic: Pension shortfalls and changes in Muni bond allocation?
Replies: 14
Views: 1645

Re: Pension shortfalls and changes in Muni bond allocation?

Is there one over-arching error all these pension funds made that got us here today? How come the pension funds aren't fat and happy like so many of the BH here in lieu of the last ten years? I understand that a pension fund and an individual are massively different but could you *explain like I'm ...
by ebrasmus21
Fri Sep 29, 2017 12:03 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

The TV analogy certainly doesn't work. The TV analogy is perfect. You realize how ridiculous it sounds to buy a $50,000 TV (with awesome hand-crafted parts precision-made with a beautiful exterior) that only displays an image (the point of a TV) equal to a $500 TV. For $50,000, you should get a bet...
by ebrasmus21
Fri Sep 29, 2017 10:47 am
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

imperio wrote:
Fri Sep 29, 2017 10:41 am
Happy Friday everyone!

Image
VERY NICE!!
by ebrasmus21
Fri Sep 29, 2017 9:49 am
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

The TV analogy would work if you were comparing a beautiful looking 4K 60" flatscreen to a 1970's 11" Blank and White Tube TV. They both serve the same function but the 4K provides a MUCH nicer experience. Homer- I don't think we are going to convince you to buy a Rolex - but next time you are in a...
by ebrasmus21
Fri Sep 29, 2017 9:33 am
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

The TV analogy would work if you were comparing a beautiful looking 4K 60" flatscreen to a 1970's 11" Blank and White Tube TV. They both serve the same function but the 4K provides a MUCH nicer experience. Homer- I don't think we are going to convince you to buy a Rolex - but next time you are in a...
by ebrasmus21
Thu Sep 28, 2017 5:50 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

1. The people who think owning an expensive watch is stupid think watches should solve the "telling the time" problem. That's why a Casio = Rolex. 2. The people who think owning an expensive watch is awesome think watches should solve a different problem than the "telling the time" problem. For tho...
by ebrasmus21
Thu Sep 28, 2017 5:50 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

1. The people who think owning an expensive watch is stupid think watches should solve the "telling the time" problem. That's why a Casio = Rolex. 2. The people who think owning an expensive watch is awesome think watches should solve a different problem than the "telling the time" problem. For tho...
by ebrasmus21
Thu Sep 28, 2017 3:53 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

rustymutt wrote:
Thu Sep 28, 2017 3:48 pm
The Timex and The Boglehead fits me to a T. 6 years ago and take a licking, and keeps on ticking.
That has the makings of a beautiful thread
by ebrasmus21
Thu Sep 28, 2017 2:01 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

I would put a Rolex in the category of jewelry/art. I would never compare it to a Casio or index fund investments. It is something that may have some functionality (telling time), but it is really just something that gives the user pleasure. I refused to accept an engagement ring, and I don't care ...
by ebrasmus21
Thu Sep 28, 2017 1:35 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

Personally, I'm not a fan of Rolex due to I can't get past the "cyclops" look even though not all models have that. My Longines isn't at the cost level of Rolex or Omega, however I've owned it for several years and wear it everyday. I have no regrets about dropping just over $1K for a decent automa...
by ebrasmus21
Thu Sep 28, 2017 1:27 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

Anyone who genuinely believes a Rolex and a $20 casio are "the same" should consider money spent on a Rolex to be wasted. And that's your point of view and I wouldn't try and say anything differently. But paying fair market value for a Rolex, if you value it, isn't wasting money. I contend you actu...
by ebrasmus21
Thu Sep 28, 2017 12:46 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

I have a very nice Swiss watch made by a small boutique maker (Jaeger-LeCoultre) that was given to me by my father-in-law, who received it from his father as a gift when he became a graduate chemical engineer. It is now 50+ years old, and I rarely wear it -- mostly for formal occasions and celebrat...
by ebrasmus21
Thu Sep 28, 2017 12:39 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

You really don't see any other differences at all between a hovel and mansion? Roof over your head is the only variable? Your "Rolex==Timex" was putting function over form. Functionally both a hovel and a house get you out of the rain. I don't believe a hovel is the same as a mansion. I don't belie...
by ebrasmus21
Thu Sep 28, 2017 12:26 pm
Forum: Investing - Theory, News & General
Topic: Pension shortfalls and changes in Muni bond allocation?
Replies: 14
Views: 1645

Re: Pension shortfalls and changes in Muni bond allocation?

Thanks Dandy. I agree that the fiscal problems of many states are daunting. A big question for us is not only the risks of individual states but any systemic risks of muni bonds as the pension shortfalls appear to be almost universal. Our concern is that a run of the mill equity bear market will pu...
by ebrasmus21
Thu Sep 28, 2017 12:06 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

Let's take this thought exercise to its other extreme. HomerJ - I certainly hope your logic is consistent when it comes to your personal dwelling. You make a good point. Sure, I have spent money on a nice-looking granite countertop when a cheaper formica countertop would functionally be the same. B...
by ebrasmus21
Thu Sep 28, 2017 11:54 am
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

Let's take this thought exercise to its other extreme. HomerJ - I certainly hope your logic is consistent when it comes to your personal dwelling. You make a good point. Sure, I have spent money on a nice-looking granite countertop when a cheaper formica countertop would functionally be the same. B...
by ebrasmus21
Thu Sep 28, 2017 11:42 am
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

I could afford to buy a $50 coke if I wanted to. But what if a 50 cent coke was also available, and I still chose to buy the $50 coke? I think that would still be wasting money since I am getting nothing extra for the extra money. A better analogy to the "Casio versus Rolex" debate wouldn't be payi...
by ebrasmus21
Thu Sep 28, 2017 9:52 am
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

I find these threads baffling. If ones savings rate is adequate to fund ones retirement, geez, who cares what is done with the remainder? I'd never buy a Rolex, I don't wear a watch at all as it happens. I don't have cable TV. But I'm happy to drop over 10K on a nice vacation. We all get to decide ...
by ebrasmus21
Wed Sep 27, 2017 11:14 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

At what point would a boglehead say it's OK to buy a Rolex (or similar luxury item)? Surely the goal can't *just* be the accumulation of wealth. So is it OK to buy a Rolex: - Once you've extinguished debt and fully fund retirement accounts? - Once you earn the equivalent of a Rolex every month? - O...
by ebrasmus21
Wed Sep 27, 2017 9:30 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

any tips from the rolexscenti about buying new steel Rolex from an AD? I'm looking to buy my first Rolex in Q1 2018. Is sub-MSRP attainable? I've heard yes from some, no from others. I saw one Rolex at Costco last week which was around $27k. Not sure which model or it’s MSRP. Sounds like precious m...
by ebrasmus21
Wed Sep 27, 2017 7:38 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

I agree with a number of posters that if you buy the right watch (Rolex or better), it's not necessarily a sunk cost. The delayed resale value is a pretty high percentage of the purchase price, unlike for cars and jewelry (including cert'ed diamonds). I sneered at my conspicuously-consuming BIL aft...
by ebrasmus21
Wed Sep 27, 2017 1:47 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

Is there room for middle ground? I love my $250 Citizen Eco Drive. gasdoc These are really nice. I had a titanium one among the watches I inherited. I think I got something like $60 for it on eBay, which made me quite happy. Did you invest that $60 into a diversified mutual fund (preferably with a ...
by ebrasmus21
Wed Sep 27, 2017 12:47 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

Lindrobe wrote:
Wed Sep 27, 2017 12:45 pm
ebrasmus21, I bought him the GMT as a gift for our 5th wedding anniversary and the Datejust as a gift on our 10th wedding anniversary. I hope he doesn't expect me to buy him one every five years though! :D
Has a precedent been set???
by ebrasmus21
Wed Sep 27, 2017 12:42 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

Ok, I will admit it....my husband and I have three between the two of us. I have a 35 mm Yachtmaster. My husband has a GMT and a Datejust 41. We are not fancy people, but we do appreciate nice watches. I have no regrets about the 3 that we have purchased. Which GMT does your husband have? He has th...
by ebrasmus21
Wed Sep 27, 2017 12:37 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

Lindrobe wrote:
Wed Sep 27, 2017 12:30 pm
Ok, I will admit it....my husband and I have three between the two of us. I have a 35 mm Yachtmaster. My husband has a GMT and a Datejust 41. We are not fancy people, but we do appreciate nice watches. I have no regrets about the 3 that we have purchased.
Which GMT does your husband have?
by ebrasmus21
Wed Sep 27, 2017 10:56 am
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

Don't think of it as a watch, it's a man's jewelry. This is exactly what it is. And nothing wrong with that. But don't fool yourself that you are buying it because of its amazing engineering . You're buying it because it's pretty (and maybe because marketing has told you successful people wear role...
by ebrasmus21
Wed Sep 27, 2017 10:30 am
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

Don't think of it as a watch, it's a man's jewelry. This is exactly what it is. And nothing wrong with that. But don't fool yourself that you are buying it because of its amazing engineering . You're buying it because it's pretty (and maybe because marketing has told you successful people wear role...
by ebrasmus21
Wed Sep 27, 2017 9:46 am
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

At what point would a boglehead say it's OK to buy a Rolex (or similar luxury item)? Surely the goal can't *just* be the accumulation of wealth. So is it OK to buy a Rolex: - Once you've extinguished debt and fully fund retirement accounts? - Once you earn the equivalent of a Rolex every month? - O...
by ebrasmus21
Wed Sep 27, 2017 9:45 am
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

Every once in a while these kinds of threads start. Similar questions to "should I buy a Rolex" are "should I fly business class" or "should I buy a Lexus instead of a Toyota" and they turn into a question of wants vs needs. Some BH's say "never in a million years" and others say "go for it as long...
by ebrasmus21
Wed Sep 27, 2017 9:43 am
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

I used to wear watches then stopped b/c my cell had a clock. I recently bought myself a nice citizen eco-drive for $80 and put a handmade leather band on it. I didn't realize how much I missed having a watch until I started wearing one again. It's so much handier than a phone and easier to access. ...
by ebrasmus21
Tue Sep 26, 2017 10:07 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

Who said Rolex's don't hold their value? https://www.youtube.com/watch?v=olawVhNhJqw That man was beside himself in shock. Great video, thanks for sharing. Definitely a cool video! Finding $80,000 under your mattress would be pretty nice! (Of course, since this is Bogleheads....if he had invested t...
by ebrasmus21
Tue Sep 26, 2017 6:56 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

knpstr wrote:
Tue Sep 26, 2017 6:34 pm
Who said Rolex's don't hold their value?

https://www.youtube.com/watch?v=olawVhNhJqw
That man was beside himself in shock. Great video, thanks for sharing.
by ebrasmus21
Tue Sep 26, 2017 6:03 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: My Rolex story

Bogleheads: At the end of World War II in 1945, there were millions of American service men and women waiting their turn to go home on a ship. To kill time, the Army started inter-divisional competition. I was sent to represent the 101st Airborne Division in a swimming meet in Switzerland. After th...
by ebrasmus21
Tue Sep 26, 2017 6:00 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

OP: Earlier I pointed you to a 21 page thread and believe my answer is somewhere within that thread (or similar one on watches) but in case you don't have the patience to go through it I will answer your question. I don't own any Rolex's but do own a couple of nice watches (TAGs). My advise: First ...
by ebrasmus21
Tue Sep 26, 2017 5:55 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

... I view mechanical watches as little works of art and I admire them as such. If people understood the depths that Rolex takes to design and improve their watches I think more people would respect the brand. I always saw Rolex as gaudy but then I found out how much of a passion they have for perf...
by ebrasmus21
Tue Sep 26, 2017 3:43 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 10954

Re: The Rolex and The Boglehead

Here I am feeling guilty for re-buying a Polar heart monitor watch for $60 because the display on my old one is missing a few LEDs. My every-day watch is a nice Seiko that I get compliments on. It was a gift from DW and I'm sure she spent less than $500. Everyone has their own idea of what luxury i...