Search found 744 matches

by bltn
Wed May 20, 2020 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: At 30, what are some key financial milestones I should have hit?
Replies: 51
Views: 4298

Re: At 30, what are some key financial milestones I should have hit?

I am turning 30 soon. Are there any big boglehead financial milestones I should have hit by age 30? As others have said it really varies with your situations since a married person with a couple of kids in a low cost of living area is in a much different situation than a single person in a high cos...
by bltn
Mon May 18, 2020 7:28 am
Forum: Personal Investments
Topic: Investment questions - starting late
Replies: 10
Views: 712

Re: Investment questions - starting late

It's good you are working part-time. Any thoughts for your son to pick up a part-time job during the summer and perhaps on weekends during the school year so he can also be saving for discretionary expenditures both now and in college? He needs to have as much skin in the game and work ethic develo...
by bltn
Sun May 17, 2020 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking of buying a boat during pandemic – am I CRAZY?
Replies: 80
Views: 5335

Re: Thinking of buying a boat during pandemic – am I CRAZY?

Interesting that you say you and your wife have been going back and forth about buying a boat... but YOU have been wanting one for a long time. A boat purchase and use is something you and your wife should be 100% in agreement on. My husband and I bought a sailboat from a gentleman who had always w...
by bltn
Sun May 17, 2020 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Income about to be halved - what do we do?
Replies: 62
Views: 7692

Re: Income about to be halved - what do we do?

I would not prepay the mortgage, and put bonuses and savings into the emergency fund and Roth ira was for now. With the liquidity, you can pay off the mortgage at anytime. But the funds may come in handy if this economy becomes more problematic. I would not max the 401k payments. I would only fund t...
by bltn
Sat May 16, 2020 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking of buying a boat during pandemic – am I CRAZY?
Replies: 80
Views: 5335

Re: Thinking of buying a boat during pandemic – am I CRAZY?

I am with the you can afford whatever you want just not everything you might see. From a personal observation point of view, if lakeside means Lake Superior or Lake Tahoe kind of venue then a $65k boat might be appropriate. Having lived on a smallish lake, I do not understand the boat owner’s that ...
by bltn
Fri May 15, 2020 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Selling home - low ball negotiation
Replies: 145
Views: 12068

Re: Selling home - low ball negotiation

Your broker should be able to recommend a counter offer strategy. What do they say? They, after all, are working for you, and you've hired them expressly for their expertise in selling a house Mike Agree, this is what you are paying your realtor for. Putting food on the table is contingent on you a...
by bltn
Fri May 15, 2020 7:27 am
Forum: Personal Investments
Topic: Do you want to own the whole haystack [VTI] when someone has a blowtorch?
Replies: 125
Views: 9414

Re: Do you want to own the whole haystack when someone has a blowtorch?

There are always winners and losers in business. The idea of owning everything is so that you don't have to guess the winners, and just hope you are right. Owning everything means you are guaranteed to own the winners, and their value is theoretically infinite. Sure - you own losers too, but they c...
by bltn
Tue May 12, 2020 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Broke mother-in-law retiring due to COVID-19
Replies: 54
Views: 6494

Re: Broke mother-in-law retiring due to COVID-19

She has no money, and a small Social Security benefit but no teacher s pension. The only way she can afford to stop working is to move in with one of the kids. She should be encouraged to cut up her credit card and get a debit card. Wait until age 70 to start her Social security. She could sell her ...
by bltn
Sat May 09, 2020 10:46 am
Forum: Personal Finance (Not Investing)
Topic: High Income, next financial move?
Replies: 31
Views: 3142

Re: High Income, next financial move?

Realize the moment you sell either a minority or majority stake in the business, life as you know it today will change. Changes in control even with minority stakeholders brings a whole host of other responsibilities including equal treatment of all partners, governance, transparency, potential lit...
by bltn
Sat May 09, 2020 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Credit score stalled after big purchase
Replies: 24
Views: 1390

Re: Credit score stalled after big purchase

I guess I don t realize how important a FICO score is to some. I never even knew my FICO score until a credit union I joined a few years ago began to offer this information on their website. I just paid my credit cards off every month, and made my house payments on time. I found my credit score was ...
by bltn
Thu May 07, 2020 8:39 pm
Forum: Personal Finance (Not Investing)
Topic: Easy $200 from Penfed?
Replies: 52
Views: 5404

Re: Easy $200 from Penfed?

I use a PenFed credit card to get 5% back on gasoline purchases. I ve also used PenFed to buy a new truck for a great deal on the purchase price as well as financing.
by bltn
Thu May 07, 2020 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: 15 year mortgage vs 30 year payoff in 15
Replies: 41
Views: 3376

Re: 15 year mortgage vs 30 year payoff in 15

If you really think the flexibility option is that important, that might not bode well for being sure to make the prepayments in the future.
I would lock myself in to the 15 year note ( and maybe start to prepay that somewhere down the road).
by bltn
Wed May 06, 2020 8:03 am
Forum: Personal Investments
Topic: delete
Replies: 39
Views: 7254

Re: If I put 1 million in Wellesley and lived on 35k a year how long would the money last if I took dividends and capita

As I scan through this thread, I don t see any discussion about taxes. I presume when the op mentioned 35k per year in expenses, he was including income tax expenses. With 60% of the Wellington Fund in bonds, a significant portion of the dividends will be unqualified and therefore taxed as ordinary ...
by bltn
Wed May 06, 2020 12:15 am
Forum: Personal Investments
Topic: Amount and time needed to retire
Replies: 19
Views: 1838

Re: Amount and time needed to retire

If I have a $300k 75/25 investment portfolio, $160k EF, and can successfully invest $85k/yr into a 75/25 AA, growing slightly more conservative over time and ending at 50/50 AA, how long until the portfolio is big enough to live primarily off the dividends/interest and withdrawals, assuming $100k/y...
by bltn
Tue May 05, 2020 8:32 pm
Forum: Personal Investments
Topic: Close to retirement and don't know what to do
Replies: 33
Views: 4048

Re: Close to retirement and don't know what to do

Make additional retirement savings deposited into money market accounts or cd s until you feel better about your investments. More complete advice can be given once we know your monthly expenses, your retirement savings so far, and any expected social security and pension amounts. Most of us feel ba...
by bltn
Tue May 05, 2020 7:59 am
Forum: Personal Finance (Not Investing)
Topic: Moving from High taxed state to no income tax state
Replies: 44
Views: 3106

Re: Moving from High taxed state to no income tax state

We moved to Florida from a low tax state that had a 5% income tax on all earned income, and dividend/capital gains over a few thousand dollars a year. Previous property taxes were low and sales taxes were high. In Florida,our property tax rates are low, sales taxes are low and there is no income tax...
by bltn
Tue May 05, 2020 7:37 am
Forum: Personal Finance (Not Investing)
Topic: Podcast - Wade Pfau: The 4% Rule Is No Longer Safe
Replies: 162
Views: 10101

Re: Podcast - Wade Pfau: The 4% Rule Is No Longer Safe

No one cares about the historical average.. Why do we have to keep explaining that? Seriously, why do we have to keep explaining that? Me: "I picked 4% because it worked even when bond yields and stock returns were low" You: "Dude! It looks like future bond yields and stock returns are going to be ...
by bltn
Fri May 01, 2020 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: New Grad's Housing Question
Replies: 15
Views: 634

Re: New Grad's Housing Question

My son s move last year across country to his first job involved moving his furniture from a modest one bedroom apartment. We used a well known moving company. 3000 dollars. Be sure to get insurance for the move.
by bltn
Fri May 01, 2020 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Podcast - Wade Pfau: The 4% Rule Is No Longer Safe
Replies: 162
Views: 10101

Re: Podcast - Wade Pfau: The 4% Rule Is No Longer Safe

So you are not open to the idea that using whole life might work out and that recommending it makes you a heretic?:) Again I am beyond suspect that the math works out. It might require some crazy assumptions (50% tax drag on taxable bonds, buying a product that doesn't exist, ...). But I would at l...
by bltn
Fri May 01, 2020 11:36 am
Forum: Personal Finance (Not Investing)
Topic: Podcast - Wade Pfau: The 4% Rule Is No Longer Safe
Replies: 162
Views: 10101

Re: Podcast - Wade Pfau: The 4% Rule Is No Longer Safe

Your point is well taken. Thank you. What do you recommend that I do with this whole life policy today? It's fully paid up and I'm no longer making premium payments. MichDad There is no such thing as paid up insurance (it's a marketing term the insurance snakes have come up with to trick their mark...
by bltn
Fri May 01, 2020 11:18 am
Forum: Personal Consumer Issues
Topic: Has Your Spending Changed Since The Shutdown?
Replies: 180
Views: 6589

Re: Has your budget changed? What items have you cut out?

Less spending overall.

Less on gasoline.
Less on restaurants.

More on groceries.
More on books from Amazon. (The libraries are closed.)
by bltn
Fri May 01, 2020 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance and Recent Alcohol Rehab (USA)
Replies: 17
Views: 1217

Re: Term Life Insurance and Recent Alcohol Rehab (USA)

I believe your life will be much easier if you decide that moderate use of alcohol in the future is not possible for you. Setting your boundary at no substance use will be easier than trying to figure out where your boundary should be, then adhering to it.
by bltn
Tue Apr 28, 2020 2:48 pm
Forum: Personal Investments
Topic: Why am I even saving for retirement?
Replies: 223
Views: 19840

Re: Why am I even saving for retirement?

Everyone warning me SS benefits will be cut are missing the point. If it’s cut it’s cut. I’ll save some more to make up for the gap or cut my expenses. Now, does that possibility require me to continue delaying gratificatio n and continue socking away >$100k/yr for two more decades? I think not. Wh...
by bltn
Tue Apr 28, 2020 9:43 am
Forum: Personal Investments
Topic: Why am I even saving for retirement?
Replies: 223
Views: 19840

Re: Why am I even saving for retirement?

Hard to riot in the streets when you're in a wheel chair. Soc Sec will be reduced for top wage earners (you) and expanded to those who are not. Are you suggesting that the elderly have less political influence than the young? Or that the high wage earners have less political influence? How reassuri...
by bltn
Mon Apr 27, 2020 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Appropriate Term Life Terms - couple in 30s
Replies: 88
Views: 3931

Re: Appropriate Term Life Terms - couple in 30s

I remember that back in the 1980s and 1990s, annually renewable term (ART) used to be more popular. Rates went up every year since the insured's life expectancy declined, and as long as you kept paying your premium, you did not have to show evidence of insurability. This is unlike level premium ter...
by bltn
Mon Apr 27, 2020 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Appropriate Term Life Terms - couple in 30s
Replies: 88
Views: 3931

Re: Appropriate Term Life Terms - couple in 30s

I remember that back in the 1980s and 1990s, annually renewable term (ART) used to be more popular. Rates went up every year since the insured's life expectancy declined, and as long as you kept paying your premium, you did not have to show evidence of insurability. This is unlike level premium ter...
by bltn
Sun Apr 26, 2020 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Payoff house and quit good-paying job?
Replies: 112
Views: 8077

Re: Payoff house and quit good-paying job?

Is this short-sighted? since you have a wife and kid, the answer is yes Why do you think that though? We have enough assets to pay off our house and significantly lower our expenses while maintaining sufficient emergency fund. My lowered income can still support the family with sufficient emergency...
by bltn
Sun Apr 26, 2020 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Take Social Security now, at 66, during Corona-virus?
Replies: 61
Views: 4965

Re: Take Social Security now, at 66, during Corona-virus?

I agree that under MY CIRCUMSTANCES its best that I not take it now, and the longer I resist taking it, the better. Especially considering my planned purpose for the SS checks. For me, it's not about getting the most money out of the system that I can, but about having the biggest safety net, just ...
by bltn
Sun Apr 26, 2020 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Appropriate Term Life Terms - couple in 30s
Replies: 88
Views: 3931

Re: Appropriate Term Life Terms - couple in 30s

I got two yearly renewable term policies for increasing yearly premiums shortly after getting married at age 29. If level term policies were available back then, I wasn t aware of them. I saved as much as I could comfortably and dropped one policy in my early forties, and one policy about 5 years la...
by bltn
Sun Apr 26, 2020 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Moving out of NYC due to pandemic
Replies: 164
Views: 12706

Re: Moving out of NYC due to pandemic

I did my training in NYC and now work with the surgeons who trained me. I am not going to find similar group of supportive people again. Also, as an early career physician, my compensation is almost at the top percentile. Otherwise, I do not have much allure for NYC as such. Everything is so expens...
by bltn
Sun Apr 26, 2020 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Moving out of NYC due to pandemic
Replies: 164
Views: 12706

Re: Moving out of NYC due to pandemic

It is going to be fascinating to see how NYC residents react to the pandemic. I can only imagine how inconvenient it is right now for parents of young kids on lockdown in small apartments. They will be the first to leave, I expect. But you also have the young families who stretched to buy real esta...
by bltn
Sat Apr 25, 2020 8:07 am
Forum: Personal Investments
Topic: All the upside of the S&P with 10% downside protection "Free"?
Replies: 116
Views: 7852

Re: All the upside of the S&P with 10% downside protection "Free"?

A nice discussion of the particular flaws in the advisability of this product. But to simplify the matter when considering a financial product, simply ask yourself “How does the company make money?” If the company has no apparent way to make money on a product for the first 6 years, that representat...
by bltn
Mon Apr 20, 2020 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: How many paid for kids' college?
Replies: 282
Views: 13468

Re: How many paid for kids' college?

For those who look back at those tough times as a character building/ earning grit, why do you not want your kids to have the same experience! My mother used to always say misery builds character. My lower middle class parents did the best they could, but with 7 mouths to feed. There wasn't any mon...
by bltn
Mon Apr 20, 2020 1:48 pm
Forum: Personal Investments
Topic: Safe to have ~$1mil in savings account?
Replies: 27
Views: 2615

Re: Safe to have ~$1mil in savings account?

Do you have any beneficiaries you can add to the account to up the FDIC limit? Bad idea! That is considered a gift, and you'll have to report it. I believe it also counts against your lifetime gift exclusions. Whoa, hold on, some stuff getting mixed up here. Adding someone as a beneficiary is not t...
by bltn
Mon Apr 20, 2020 1:10 pm
Forum: Personal Investments
Topic: I'm out [of the market]
Replies: 109
Views: 11839

Re: I'm out [of the market]

So Friday I decided to pull the plug and sold all stock and bound funds and put it in prime money mkt. Of course my Vanguard advisor discouraged me from taking this action. I had been invested in approx. 33% cash, 33% bonds, and 33%funds. Down approx 6% this year. The way I look at it is my wife an...
by bltn
Sun Apr 19, 2020 4:50 pm
Forum: Personal Investments
Topic: I'm out [of the market]
Replies: 109
Views: 11839

Re: I'm out [of the market]

So Friday I decided to pull the plug and sold all stock and bound funds and put it in prime money mkt. Of course my Vanguard advisor discouraged me from taking this action. I had been invested in approx. 33% cash, 33% bonds, and 33%funds. Down approx 6% this year. The way I look at it is my wife an...
by bltn
Sat Apr 18, 2020 10:31 am
Forum: Personal Finance (Not Investing)
Topic: How many paid for kids' college?
Replies: 282
Views: 13468

Re: How many paid for kids' college?

If I can't prepare my kids to enter the real world without massive college debt, then why have them in the first place? That's probably a question you should be asking the majority of this nation's parents, but don't be shocked when their perspective isn't the same as yours. Agree with this. A func...
by bltn
Sat Apr 18, 2020 10:23 am
Forum: Personal Finance (Not Investing)
Topic: How many paid for kids' college?
Replies: 282
Views: 13468

Re: How many paid for kids' college?

Since people are providing the context of their own parents, I will do that also. My father came to the US penniless, at age 50, not speaking English. He did the proverbial ass busting, and while he was never rich, he paid for his kids’ college (he might have also paid for some of my sister’s law s...
by bltn
Thu Apr 16, 2020 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: Help us save more money on a monthly basis.
Replies: 50
Views: 3331

Re: Help us save more money on a monthly basis.

As always Bogleheads has been a great resources for investments and budgeting and currently we are looking at saving more money on a monthly basis. Basically I want to increase our savings rate. Here is the relevant information. Family of 4 - 2 adults one 3 year old and one 11 month old. Both paren...
by bltn
Thu Apr 16, 2020 4:17 am
Forum: Personal Finance (Not Investing)
Topic: Tech job switch during pandemic: benefits/risks?
Replies: 27
Views: 2369

Re: Tech job switch during pandemic: benefits/risks?

I would take the job. My son in law made a job switch similar to yours when my daughter s job retired a move. Of course there was no pandemic. But his income doubled, and 6 months later he was promoted. He is happy with his move. I now realize that changing companies is very common among software en...
by bltn
Mon Apr 13, 2020 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: How did your spending change when your kids left the house?
Replies: 41
Views: 2893

Re: How did your spending change when your kids left the house?

My two children didn't t finish their education until last year. My son finished his graduate school education last spring. For the first time in 15 years, we don t have to pay high education costs. But since I had the majority of the money put aside for their education, it didn t affect our living ...
by bltn
Sun Apr 12, 2020 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: When to take social security
Replies: 24
Views: 1795

Re: When to take social security

I would work a couple of more years and then reevaluate. To keep from cutting it so close.
by bltn
Sun Apr 12, 2020 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: Executive pay cut request: How to respond?
Replies: 130
Views: 12925

Re: Executive pay cut request: How to respond?

Talking to the current president of my former small company, the officers are taking 50% payouts in an effort to maintain full employee salaries. If the slowdown lasts more than a couple of additional months, the plan will be to cut employee income by 10 % while the officers may take additional pay ...
by bltn
Sun Apr 12, 2020 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Just how easy is owning real estate if you have a property manager? (super easy, or just “less hard”)?
Replies: 51
Views: 4584

Re: Just how easy is owning real estate if you have a property manager? (super easy, or just “less hard”)?

Good managers for rental houses in my mcol area charged 10% when I attempted to invest a number of years ago. That was enough to turn a small positive cash flow into a negative cash flow. I managed my property for a while and then sold.
by bltn
Sun Apr 12, 2020 9:40 am
Forum: Personal Finance (Not Investing)
Topic: How often do you login and review your investment accounts?
Replies: 68
Views: 2404

Re: How often do you login and review your investment accounts?

4-5 times a week. I might make a transaction 1-2 times a year to tlh, but with this recent tlh this spring, I have nothing else to tlh in the future. I am transferring money to my bank for expenses every 3 months.
by bltn
Sun Apr 12, 2020 9:18 am
Forum: Personal Finance (Not Investing)
Topic: When to take social security
Replies: 24
Views: 1795

Re: When to take social security

When one maintains several years of income in short term fixed income funds, one realizes that it is a drag on the portfolio return. But in times like these, one appreciates that sacrifice in returns.
by bltn
Sun Apr 12, 2020 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Quarterly Taxes
Replies: 43
Views: 2504

Re: Quarterly Taxes

I m paying according the the normal schedule.
by bltn
Fri Apr 10, 2020 7:38 pm
Forum: Personal Investments
Topic: What Individual stocks are you buying?
Replies: 123
Views: 9387

Re: What Individual stocks are you buying?

Good morning everyone! If you are throwing your money at any individual stocks currently, what are they? I'm really developing a strong position in: AAL GE PPL No naked stocks. Only through index funds. I don't necessarily decide what I buy inside an index :happy I don't understand the point behind...
by bltn
Fri Apr 10, 2020 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Wealth Preservation With Decades of Institutional Care
Replies: 69
Views: 3546

Re: Wealth Preservation With Decades of Institutional Care

Most Long term Care insurance policies now have limitations in both dollar amounts and time. For example, my widowed mom's LTC policy paid $XXX per day for four years. It didn't pay to her private care home, but was a policy that paid directly to her on a monthly basis. The payments fully covered h...
by bltn
Fri Apr 10, 2020 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: Wealth Preservation With Decades of Institutional Care
Replies: 69
Views: 3546

Re: Wealth Preservation With Decades of Institutional Care

Two points about long term care. 1. My mother and mother in law were both in assisted living for a number off years. My mother was in a big city, my mother in law was in a small town. My mother in law s care was as good as my mother s and cost about 60% as much. 2. I believe that the cost of assiste...