Search found 211 matches

by bltn
Fri Nov 16, 2018 5:00 am
Forum: Personal Finance (Not Investing)
Topic: [Financial] Habits of the Rich
Replies: 142
Views: 17261

Re: [Financial] Habits of the Rich

"Money may not buy happiness, but I've never seen anyone look sad while riding a jetski!" It depends what you sacrificed for that. Because most of us have this issue: have to exchange time for money. For example is it really worth saving (small amounts of) money when you are 25 instead of maximizin...
by bltn
Fri Nov 16, 2018 4:31 am
Forum: Personal Finance (Not Investing)
Topic: [Financial] Habits of the Rich
Replies: 142
Views: 17261

Re: [Financial] Habits of the Rich

"Money may not buy happiness, but I've never seen anyone look sad while riding a jetski!" It depends what you sacrificed for that. Because most of us have this issue: have to exchange time for money. For example is it really worth saving (small amounts of) money when you are 25 instead of maximizin...
by bltn
Wed Nov 14, 2018 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: [Financial] Habits of the Rich
Replies: 142
Views: 17261

Re: [Financial] Habits of the Rich

Some of the ideas here give me the impression that I landed on the "how to have a miserable life" "how to change extraordinary years of youth for a handful of dollars" and similar topics. Balance is everything. Don't sacrifice your youth to "gain" couple of years when you are old. See the world. Ha...
by bltn
Tue Nov 13, 2018 6:26 pm
Forum: Investing - Help with Personal Investments
Topic: Customer Service with Vanguard
Replies: 108
Views: 7887

Re: Customer Service with Vanguard

I ve been with Vanguard for the lasr 20-30 years. I like the service I ve gotten. And, relative to the other large brokerages I ve had accounts with, I feel that the Vanguard people are the least interested in selling a product. The most objective, neutral help. Advice based on their studies or stud...
by bltn
Tue Nov 13, 2018 6:11 am
Forum: Investing - Help with Personal Investments
Topic: The Disaster That Is General Electric Company Stock
Replies: 25
Views: 6017

Re: The Disaster That Is General Electric Company Stock

This could be a buy opportunity. Much like buying in 09 and selling in 16, you could have doubled your investment while collecting dividends the whole time. While the reduction in dividend is quite a blow, it was probably a smart move. Wouldn t buying GE stock now violate two BH wealth accumulation...
by bltn
Sat Nov 10, 2018 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Regrets from canceling whole life insurance policy - anyone out there?
Replies: 27
Views: 2952

Re: Regrets from canceling whole life insurance policy - anyone out there?

I would get my replacement term insurance in place before cancelling the current whole life policy.
by bltn
Sat Nov 10, 2018 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Finances in NYC
Replies: 76
Views: 6064

Re: Finances in NYC

No personal experience with NYC other than visits. But having a daughter and son in law in NYC for the past 5 years with new job opportunities, and having some personal perspective from living in downtown Chicago in the past, I might mention a couple of things. As others have mentioned, your biggest...
by bltn
Mon Nov 05, 2018 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need more than Original Medicare?
Replies: 110
Views: 6094

Re: Do I need more than Original Medicare?

I am turning 65 in December 2018. Im have signed up for Medicare and I got my card. I am on the fence about signing up for a Medicare Supplement or a Medicare Advantage plan immediately. I can afford, and do not mind paying, Part A and Part B deductibles. I do not need Part D because my drugs costs...
by bltn
Sun Nov 04, 2018 12:22 pm
Forum: Investing - Help with Personal Investments
Topic: Getting on track; Edward Jones & Vanguard advice
Replies: 31
Views: 3144

Re: Getting on track; Edward Jones & Vanguard advice

In your position, I would first make sure I have an emergency fund equal to 6 months of income. Then I would have Vanguard transfer the EJ IRA money to Vanguard. Then I would put the total 401k investment into the Vangurard Index 500 Fund and continue to do this for the next five years. At age 40, ...
by bltn
Sun Nov 04, 2018 10:28 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard CD's vs. Paul Merriman Short Term GOV Bonds +TIPS
Replies: 14
Views: 1184

Re: Vanguard CD's vs. Paul Merriman Short Term GOV Bonds +TIPS

With individual cd s issued by banks, like individual bonds, these can be liquidated, or held to maturity under control of the investor. With a bank cd , the only barrier to liquidation is the early withdrawal penalty on interest. The principal is insured and guaranteed, based on the strength of the...
by bltn
Sat Nov 03, 2018 12:54 am
Forum: Investing - Help with Personal Investments
Topic: Who should I believe?
Replies: 48
Views: 7546

Re: Who should I believe?

Hi, this is my first post of many, hopefully. I'm a UK expat (mid 40s) based in the Middle East that has been teaching myself about how to invest for my retirement. My research has led me to this site and I have got most of the broader picture (I think), but remain sketchy on details. I've realised...
by bltn
Sat Nov 03, 2018 12:33 am
Forum: Investing - Help with Personal Investments
Topic: Getting on track; Edward Jones & Vanguard advice
Replies: 31
Views: 3144

Re: Getting on track; Edward Jones & Vanguard advice

In your position, I would first make sure I have an emergency fund equal to 6 months of income. Then I would have Vanguard transfer the EJ IRA money to Vanguard. Then I would put the total 401k investment into the Vangurard Index 500 Fund and continue to do this for the next five years. At age 40, I...
by bltn
Sat Nov 03, 2018 12:07 am
Forum: Investing - Help with Personal Investments
Topic: Is it a waste keeping money in a money market account?
Replies: 33
Views: 7007

Re: Is it a waste keeping money in a money market maccount?

I have about $60K in a money market account, with $15-20K of that being allotted for emergency fund and the rest for a down payment. I hate leaving this much in a money market account however I may need it within the next few years. Is this a suitable place to store this much money given my goals o...
by bltn
Fri Nov 02, 2018 6:57 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Visa Rewards - Do you move the cash out of Fido?
Replies: 47
Views: 3452

Re: Fidelity Visa Rewards - Do you move the cash out of Fido?

I ve been leaving it in a money market fund. It s growing. I use that card for 90% of my credit purchases.
Then pay it off every month.
by bltn
Wed Oct 31, 2018 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Is it more advantageous to live in HCOL or LCOL area in terms of financial independence?
Replies: 180
Views: 10996

Re: Is it more advantageous to live in HCOL or LCOL area in terms of financial independence?

OP, When you asked the wrong question, you will never get the right answer. FI has nothing to do with HCOL or LCOL. It has to do with the saving rate. If a person could save 1 year of expense every year, the person could FI quickly. This could be achieved in an HCOL or LCOL area as long as the pers...
by bltn
Wed Oct 31, 2018 10:51 am
Forum: Personal Finance (Not Investing)
Topic: Am I doing well financially?
Replies: 162
Views: 12631

Re: Am I doing well financially?

You are doing extremely well on income... but not in your savings/investing - especially for your level of income. Unless you are still paying off massive student loan debts, there's no reason for you to be at 6% 401k contributions right now. You don't need to increase your income - you need to spe...
by bltn
Wed Oct 31, 2018 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Sell land at a loss or keep?
Replies: 38
Views: 2907

Re: Sell land at a loss or keep?

OP here. Thanks again for weighing in. For more clarity, the land is paid off. I don't need the money. I bought it with the intent of using it myself, not as an investment. It is in a gated community of large tracts of land, so I cannot fell trees or anything to recoup any money. The 50K estimate c...
by bltn
Tue Oct 30, 2018 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard as a trustee
Replies: 33
Views: 3065

Re: Vanguard as a trustee

Thanks for posting this question because I am also seriously considering Vanguard as the trustee for our financial brokerage assets in an irrevocable trust. I understand our real estate assets will have to be handled by a different entity-a paid fiduciary. The goal is to set up an irrevocable trust...
by bltn
Mon Oct 29, 2018 10:35 pm
Forum: Personal Finance (Not Investing)
Topic: Invest or Pay off Car Loan?
Replies: 19
Views: 1435

Re: Invest or Pay off Car Loan?

In your position, I would pay off the car loan, then keep making the car payment to myself in an investment account after I had my emergency account of 6 months expenses in place. And I d drive that car until I had enough money to buy my next car with cash.
by bltn
Mon Oct 29, 2018 10:18 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard as a trustee
Replies: 33
Views: 3065

Re: Vanguard as a trustee

I am also interested in hearing about experiences with Vanguard as a trustee for an irrevokable trust. In particular, is there any way that the trust (with Vanguard as trustee) can own a share of a family LLC (limited liability corporation)? (The LLC mainly holds about 9,000 acres of pastureland th...
by bltn
Mon Oct 29, 2018 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Sell land at a loss or keep?
Replies: 38
Views: 2907

Re: Sell land at a loss or keep?

1. Can you utilize the loss against present or future capital gains? That turns part of the loss into a gain No, this would not be a deductible loss. Gill Gill are you sure about this? We bought a plot but characterized it as an 'investment' property. I am quite certain, my accountant said any loss...
by bltn
Mon Oct 29, 2018 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Am I doing well financially?
Replies: 162
Views: 12631

Re: Am I doing well financially?

My wife and I have the same problem. Once money is in the checking account things get dicey with disciplined spending so just give yourself less money to do dumb things with. 1) So many people have already said it but save first. Make saving the default in such a way that you can't prevent it. On y...
by bltn
Mon Oct 29, 2018 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Should I co-sign for relative?
Replies: 103
Views: 4924

Re: Should I co-sign for relative?

I ve had to learn some financial things the hard way in my life. Fortunately , I ve always known not to loan money to (or cosign with ) a close friend or family member. The chances of there being a problem during that repayment or lease period are very high, and then there goes your relationship. It...
by bltn
Sat Oct 27, 2018 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard, Costco, Coursera...
Replies: 39
Views: 5377

Re: Vanguard, Costco, Coursera...

GerryL wrote: ↑
Mon Oct 22, 2018 6:32 pm
Your local public library for books, ebooks, dvds, even streaming movies, and lots more.
Amazing to me how few people take advantage of their local library. Is it because relatively few people read books?
by bltn
Sat Oct 27, 2018 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage payoff or save for next car?
Replies: 12
Views: 1067

Re: Mortgage payoff or save for next car?

I would pay down the mortgage and make myself save an extra 200 dollars a month in a new car fund. Then, when the time comes to buy a replacement car, use the car fund plus additional savings to buy the car for cash. That will be a great feeling! Once you ve paid cash for a car, you ll probably cont...
by bltn
Thu Oct 25, 2018 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Where would you go for financial guidance if you win the Megamillions?
Replies: 188
Views: 16826

Re: Where would you go for financial guidance if you win the Megamillions?

Here is a question to a typical BH. Do you think you would stop doing the cost benefit analysis in your head before splurging on yourself after winning a huge windfall? For example, would the internal questioning such as "Would this $80K car give me $80K pleasure?" vanish from your thinking? For pe...
by bltn
Thu Oct 25, 2018 6:04 am
Forum: Personal Finance (Not Investing)
Topic: Retirees: What keeps you up at night?
Replies: 56
Views: 6097

Re: Retirees: What keeps you up at night?

This forum's rules prohibit substantive discussion of this subject, even in its financial implications, so I'll have to stop there. Suffice to say that "what keeps me up at night" is not my current or near-term finances, but the approach of the biggest "macroeconomic" phenomenon of all. I am thankf...
by bltn
Mon Oct 15, 2018 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: When to stop putting money into an older vehicle
Replies: 90
Views: 6417

Re: When to stop putting money into an older vehicle

Do it the old fashioned way. Save some money and when you have enough saved, buy a different car. A 2003 Pilot probably has served you well. If the old fashioned way is hard, keep driving it. I see a lot of 60s, 70s, 80s and 90s vehicles on the roads. I agree with this. Save up for a car, then buy ...
by bltn
Mon Oct 15, 2018 5:54 am
Forum: Personal Finance (Not Investing)
Topic: Buy car cash or take low rate loan
Replies: 33
Views: 1910

Re: Buy car cash or take low rate loan

I believe one should always buy cars without loans. Accumulate the purchase price before the purchase rather than afterward.
Buy what you can afford.
by bltn
Fri Oct 12, 2018 3:48 am
Forum: Personal Finance (Not Investing)
Topic: A strategy to pay off home at retirement?
Replies: 57
Views: 4294

Re: A strategy to pay off home at retirement?

I would work until my mortgage is paid off. My security in retirement would be better. I would feel better about my home.
by bltn
Sun Oct 07, 2018 7:51 pm
Forum: Investing - Help with Personal Investments
Topic: Roth or IRA?
Replies: 11
Views: 1072

Re: Roth or IRA?

Contrary to what some think, I would use my wife s income to fund the Roth to the limit ($6500) each of the years before you retire. Use a backdoor Roth if your income requires it. You re already funding your 401k with tax deferred money. Some increased tax free investment will come in handy later. ...
by bltn
Fri Oct 05, 2018 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: Can't handle being in debt (mentally)
Replies: 42
Views: 5057

Re: Can't handle being in debt (mentally)

No more credit cards. Use only a debit card. Put 15 % of take home pay back into
Roth. Put 5-10 % of pay into emergency fund. Discipline.
by bltn
Sun Sep 16, 2018 12:58 am
Forum: Personal Consumer Issues
Topic: That Extravagant Thing You Do
Replies: 307
Views: 53832

Re: What is your luxury good?

We ve always had a weakness for nice cars.
We ve always liked to travel for vacations.
Now our biggest luxury is our vacation home. More expensive than traveling overseas.
by bltn
Fri Sep 14, 2018 2:15 am
Forum: Personal Finance (Not Investing)
Topic: Vacation house? Need objective third party
Replies: 67
Views: 6138

Re: Vacation house? Need objective third party

Just a few thoughts from somebody who has owned vacation homes and owns one now: - 700k for a vacation home is expensive, even for your income level and especially given your net worth. We used to own a vacation home in that price range and after moving which limited our use of the house we sold it...
by bltn
Wed Sep 12, 2018 9:09 pm
Forum: Investing - Help with Personal Investments
Topic: Fidelity, Schwab, or Vanguard
Replies: 61
Views: 4290

Re: Fidelity, Schwab, or Vanguard

And I always thought the username, password and security question features at Vanguard provided good security. I guess I m not keeping up with the sophisticated computer hacks.
by bltn
Wed Sep 12, 2018 9:05 pm
Forum: Investing - Help with Personal Investments
Topic: Fidelity, Schwab, or Vanguard
Replies: 61
Views: 4290

Re: Fidelity, Schwab, or Vanguard

Vanguard just disabled me with the sole 'additional security' of a cell phone code REQUIRED to access account. They disabled your account?! I just checked and I get the annoying page to get 2 factor ID and I click "remind me later" and am taken to the main page. Boy.....if I were locked out, my nex...
by bltn
Wed Sep 12, 2018 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: dumb dentist question - canceling whole life insurance
Replies: 19
Views: 1984

Re: dumb dentist question - canceling whole life insurance

I would cancel the insurance and drop the matter . Unless you like a good scrap and don't mind dealing with this for the next year. If you signed the standard contracts , you won t have a leg to stand on. The salesman will claim one thing was said, and you ll claim another. You ve learned a valuable...
by bltn
Tue Sep 11, 2018 11:17 pm
Forum: Investing - Help with Personal Investments
Topic: Going off-track of asset allocation due to high savings rate
Replies: 47
Views: 2980

Re: Going off-track of asset allocation due to high savings rate

But when your savings are higher, to stick to your AA, you might only put $X into the most underperforming asset (like international) to bring it up to the proper AA amount, but then you have more savings left over, which "should" then be spread among other assets too (including even the over-perfo...
by bltn
Mon Sep 10, 2018 10:34 pm
Forum: Personal Finance (Not Investing)
Topic: $250,000 family loan to parents?
Replies: 50
Views: 4676

Re: $250,000 family loan to parents?

Buy the house from your parents for 50-60 thousand dollars less than you think it will sell for, after a realistic consultation with a local broker. Give your parents the 250,000 dollars and let them hold a note for the rest. When you sell the house, you pay off the note , and gift them any differen...
by bltn
Mon Sep 10, 2018 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Father Wants a Home Mortgage (Bad Credit Score)
Replies: 43
Views: 3230

Re: Father Wants a Home Mortgage (Bad Credit Score)

Time for your father to rent another house, if he can t buy his current one. Don t get involved. There is a reason his credit rating is poor and your grandfather wants to end their deal. Have you spoken with your grandfather or just your father? You should not let your father know you can afford to ...
by bltn
Sun Sep 09, 2018 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Should I keep my financial advisor
Replies: 131
Views: 7917

Re: Should I keep my financial advisor

I think simply review your previous year performance (inclusive of fees) compared to what your 3 fund portfolio returned. If your adviser didn't make you $5000 more than you would have made with a 3 fund - you have to ask yourself why you would pay them $5k for that.... In last 2 years, I have roug...
by bltn
Sat Sep 08, 2018 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Should I keep my financial advisor
Replies: 131
Views: 7917

Re: Should I keep my financial advisor

Tommy, what I would say is by all means bounce ideas off of forum members. By all means have us look at your portfolio. By all means seek advice here. But some caution here. We just cannot run your financial life from here. First of all, no way of knowing all the factors involved in your financial ...
by bltn
Fri Sep 07, 2018 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Should I keep my financial advisor
Replies: 131
Views: 7917

Re: Should I keep my financial advisor

OP found his way here, he can find his way into a low fee target date index fund while he learns the ropes. He is a high earner and will end up paying millions of dollars to folks like you should he listen to advice like that. Or he can pay thousands to Vanguard, hundreds of thousands to the IRS, a...
by bltn
Thu Sep 06, 2018 11:45 pm
Forum: Personal Finance (Not Investing)
Topic: Lucrative careers?
Replies: 467
Views: 44815

Re: Lucrative careers?

CRNAs are RNs: Reference: https://www.nursepractitionerschools.com/faq/how-to-become-nurse-anesthetist Actually, CRNA stands for "Certified REGISTERED NURSE Anethesist." CRNAs are RNs. All RNs are not CRNAs. The Nurse Anesthetist (CRNA) I know is a RN. All MDs have Bachelors degrees too. But they c...
by bltn
Thu Sep 06, 2018 2:31 pm
Forum: Investing - Help with Personal Investments
Topic: Psychology of saving for college vs retirement
Replies: 66
Views: 4099

Re: Psychology of saving for college vs retirement

I will tell you about my psychology behind it. I look at College for my kids as an expense I cannot wiggle around or avoid. It is something I will provide for them to the best of my ability, just as I would food, shelter, clothes, toys, schooling or anything else I provide. I wouldn't skimp on thos...
by bltn
Thu Sep 06, 2018 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Time to look at SS [When should I take Social Security?]
Replies: 55
Views: 5122

Re: Time to look at SS [When should I take Social Security?]

Having read and skimmed most of these posts, I haven t seen one factor mentioned. Most people will have more energy for travel and other activities between ages 60 -70 than between ages 70-80. So they might make better use of the income by taking it earlier from that standpoint. However the needs mi...
by bltn
Thu Sep 06, 2018 4:45 am
Forum: Investing - Help with Personal Investments
Topic: Max you should invest in a 529?
Replies: 181
Views: 10248

Re: Max you should invest in a 529?

OP, 1% to 5% of your net worth excluding the house. So, for most people, the answer is nothing. KlangFool Seems arbitrary. Care to explain the 1% to 5% range? We are at 10% but also are probably done contributing (2 years maxed for 2 kids each). 10% is high by your standard but what we get: IL stat...
by bltn
Mon Sep 03, 2018 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Emergency fund size
Replies: 72
Views: 6574

Re: Emergency fund size

Yes, the rule of thumb should be based on so many months of expenses, not amount. Someone who spends $20k per month will have a different sized emergency fund than someone who spend $1k per month. When I was younger, I always kept six months worth of expenses. As we get older and life more complica...
by bltn
Mon Sep 03, 2018 6:30 pm
Forum: Personal Finance (Not Investing)
Topic: How to Retire in Your 30's with $1 Million in the Bank
Replies: 148
Views: 18659

Re: How to Retire in Your 30's with $1 Million in the Bank

Back in my day we called these guys "stay home dads" During my parent's time in the 60s and 70s they were called "dropouts" Now they are retired? My favorite post of this thread! :sharebeer Mine too. I wonder if the retired people in their 30 s are enabled by a woeking spouse, like the stay at home...
by bltn
Fri Aug 31, 2018 1:42 pm
Forum: Investing - Help with Personal Investments
Topic: Is it time to go shorter in bonds ?
Replies: 109
Views: 8396

Re: Is it time to go shorter in bonds ?

This is a hard question to answer, a big reason is that we don't know the future. I was advised almost 10 years ago to shorten the maturity of my bonds. I kept everything Intermediate Term and Investment Grade and I am glad that I did because I would have foregone a lot of interest. Yield curve was...