Search found 579 matches

by GCD
Thu Dec 13, 2018 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Side Hustle? Passive Income?
Replies: 19
Views: 1368

Re: Side Hustle? Passive Income?

I'm curious to hear of any side hustles or passive income strategies that Bogleheads pursue to either supplement their W2 job or eventually not have to work their traditional W2 job. Well, aside from the obvious one of investing where my investment income has exceeded my W2 for several years now, I...
by GCD
Wed Dec 12, 2018 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA for kids
Replies: 77
Views: 8891

Re: ROTH Ira for kids

First, only a few states have the only option as age 18 for termination. 47 states have the option to delay that to at least 21, with eight (and increasing) states allowing the delay until age 25. Thanks for that. I wasn't aware of this. Second, I consider @GCD's suggestion anything but benign and ...
by GCD
Wed Dec 12, 2018 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: What percentage of your net worth is your home equity?
Replies: 263
Views: 19632

Re: What percentage of your net worth is your home equity?

Would you count the equity portion of your commuter car in your net worth knowing that you can pocket the delta in car equity if you move to LCOL or Vietnam? Yes, I count it because it is an asset. This is also why net worth is not widely useful. But nevertheless, net worth does equal assets - liab...
by GCD
Wed Dec 12, 2018 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA for kids
Replies: 77
Views: 8891

Re: ROTH Ira for kids

Does the child have full access to the money when they turn 18? If so that could be dangerous. I didn't open Roth IRAs for my children until I was sure they would not donate it all to a cult or worse. Well, they do technically, but you can benignly mislead them. Just tell them they can't take the m...
by GCD
Wed Dec 12, 2018 1:29 pm
Forum: Investing - Theory, News & General
Topic: What Happened to you during the Financial crisis of 2007–2008
Replies: 162
Views: 11370

Re: What Happened to you during the Financial crisis of 2007–2008

WanderingDoc wrote:
Wed Dec 12, 2018 2:20 am
GCD wrote:
Tue Dec 11, 2018 9:12 pm
Investible assets, 100% stock:

2006: X
2007: X + $71,000
2008: X - $67,000
2009: X + $94,000

Meh, whatever...
What asset allocation?
Well 100% stock, but specifically it was about 20% VTSAX (a 529) and 80% TSP C fund.
by GCD
Tue Dec 11, 2018 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: What percentage of your net worth is your home equity?
Replies: 263
Views: 19632

Re: What percentage of your net worth is your home equity?

wootwoot wrote:
Tue Dec 11, 2018 8:39 pm
My home equity isn't part of my net worth.
Bacchus01 wrote:
Tue Dec 11, 2018 9:04 pm
Your house is part of your net worth
Fight! Fight! Fight! :twisted: :beer
by GCD
Tue Dec 11, 2018 9:12 pm
Forum: Investing - Theory, News & General
Topic: What Happened to you during the Financial crisis of 2007–2008
Replies: 162
Views: 11370

Re: What Happened to you during the Financial crisis of 2007–2008

Investible assets, 100% stock:

2006: X
2007: X + $71,000
2008: X - $67,000
2009: X + $94,000

Meh, whatever...
by GCD
Tue Dec 11, 2018 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone been able to execute a Power of Attorney with Vanguard?
Replies: 27
Views: 1532

Re: Has anyone been able to execute a Power of Attorney with Vanguard?

Let us know if they accept it. We've been going round and round with them (and the state of PA) about this. You MUST use their "agent authorization" forms, which do NOT include everything that a PoA would/could cover. Even though PA passed a LAW a few years ago stating that any company doing busine...
by GCD
Tue Dec 11, 2018 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: What percentage of your net worth is your home equity?
Replies: 263
Views: 19632

Re: What percentage of your net worth is your home equity?

It's the same argument every time this topic comes up. There are two types of Bogleheads. Those that know how to calculate net worth and those that don't..... :P Amazing isn't it? Given the generally high level of financial education here and the simplicity of the definition of net worth. Last time...
by GCD
Thu Dec 06, 2018 6:53 pm
Forum: Personal Consumer Issues
Topic: California 8 days road trip LA-SFO
Replies: 40
Views: 2105

Re: California 8 days road trip LA-SFO

Monterey has a fabulous aquarium, but little else in my opinion. Agreed, unless you are a John Steinbeck fan. Then there is lots of historical stuff there. Steinbeck set Cannery Row in Monterey. Other than that observation, it's been so long since I drove that route that I will defer to all the oth...
by GCD
Sun Dec 02, 2018 4:52 pm
Forum: Investing - Help with Personal Investments
Topic: [Deleted]
Replies: 7
Views: 782

Re: Please Help: Receiving Farm Land

My mom inherited 2 quarters of farmland in South Dakota from her mom who inherited it from her dad. I've never been very involved in it, but it doesn't seem to take much work. Although family members 2 generations ago actively farmed it, we do not farm it ourselves now. My mom rents it out to some ...
by GCD
Sun Dec 02, 2018 3:14 pm
Forum: Investing - Help with Personal Investments
Topic: [Deleted]
Replies: 7
Views: 782

Re: Please Help: Receiving Farm Land

My mom inherited 2 quarters of farmland in South Dakota from her mom who inherited it from her dad. I've never been very involved in it, but it doesn't seem to take much work. Although family members 2 generations ago actively farmed it, we do not farm it ourselves now. My mom rents it out to some d...
by GCD
Sun Dec 02, 2018 2:08 pm
Forum: Investing - Help with Personal Investments
Topic: My kid's retirement
Replies: 49
Views: 3384

Re: My kid's retirement

If my parents had given me a complete full ride on education I would never have gone through the pain of learning about debt, budgeting, long term planning, etc. Perhaps not the pain of learning, but I think you could have learned about debt, budgeting, and long term planning regardless. Not everyo...
by GCD
Sun Dec 02, 2018 1:37 pm
Forum: Investing - Help with Personal Investments
Topic: My kid's retirement
Replies: 49
Views: 3384

Re: My kid's retirement

I think that arbitrarily saying education good, retirement bad is not insightful. I graduated from school $50,000 in debt in 1994. In order to pay down my debt rapidly, I kept my living expenses low. My monthly student loan payment exceeded my rent for the first 8 years after graduation. If my paren...
by GCD
Sun Dec 02, 2018 9:32 am
Forum: Investing - Help with Personal Investments
Topic: My kid's retirement
Replies: 49
Views: 3384

Re: My kid's retirement

(2) Not sure it's a great idea to deny my kids the opportunity to make it on their own. It's all academic anyway since the whole baby-modeling-to-fund-kids-IRA is largely unworkable. But, if you assume you can teach your kids enough that they let the IRA sit and don't loot it early, then how is it ...
by GCD
Sun Dec 02, 2018 9:24 am
Forum: Investing - Help with Personal Investments
Topic: My kid's retirement
Replies: 49
Views: 3384

Re: My kid's retirement

Is your son modeling for a known legitimate business advertising a product or service geared towards that particular demographic segment? You could use a picture of your child for an automotive repair shop but will it pass the “sniff test” at the IRS as being something normally accepted as essentia...
by GCD
Sun Dec 02, 2018 8:41 am
Forum: Investing - Help with Personal Investments
Topic: My kid's retirement
Replies: 49
Views: 3384

Re: My kid's retirement

Is your son modeling for a known legitimate business advertising a product or service geared towards that particular demographic segment? You could use a picture of your child for an automotive repair shop but will it pass the “sniff test” at the IRS as being something normally accepted as essentia...
by GCD
Sun Dec 02, 2018 8:02 am
Forum: Investing - Help with Personal Investments
Topic: My kid's retirement
Replies: 49
Views: 3384

Re: My kid's retirement

I went down this road with my kids. My kids got a couple professional modeling jobs, so I'll tell you what happened. It sounds great on paper and the compounding is obviously wonderful. But the reality plays out a little worse. As others above have mentioned, unless you actually use the kid's photos...
by GCD
Sun Dec 02, 2018 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Hiring a Nanny
Replies: 13
Views: 1405

Re: Hiring a Nanny

I have a full time nanny, happy to answer any questions. 3. You’ll need to buy a workers comp policy. Is the workers comp because she is full time? Workers comp insurance is based on if they are your employee, not number of hours worked. It is not required in every state, but if always a good idea....
by GCD
Sat Dec 01, 2018 9:47 pm
Forum: Investing - Theory, News & General
Topic: "The Steak Dinner Annuity Pitch"
Replies: 60
Views: 7162

Re: "The Steak Dinner Annuity Pitch"

Would you go get estimates from every house painter that you could if they all promised you a $10 meal certificate, knowing that house painters are usually independent business people, and that you were never going to paint your house? House painters are different. The vast majority are legitimate ...
by GCD
Sat Dec 01, 2018 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Plan Worth It?
Replies: 16
Views: 1217

Re: 529 Plan Worth It?

Like any investment, compounding is helpful so the earlier you start saving the better. Unfortunately, by the time you realize they are/n't going to get that full-ride scholarship it will be a little late. So it's kind of a gamble. My back-up plan for an underused 529 is a) it becomes an educational...
by GCD
Sat Dec 01, 2018 9:34 pm
Forum: Personal Finance (Not Investing)
Topic: Hiring a Nanny
Replies: 13
Views: 1405

Re: Hiring a Nanny

Scotttheking wrote:
Sat Dec 01, 2018 9:13 pm
I have a full time nanny, happy to answer any questions.

3. You’ll need to buy a workers comp policy.
Is the workers comp because she is full time?
by GCD
Sat Dec 01, 2018 5:05 pm
Forum: Investing - Theory, News & General
Topic: "The Steak Dinner Annuity Pitch"
Replies: 60
Views: 7162

Re: "The Steak Dinner Annuity Pitch"

Fred Smith is a financial adviser. Let's say he works for himself, Fred Smith Annuities-For-Live, LLC. He runs a dinner, where he pays say $40 for each attendee, hoping to generate his livelihood. You go, knowing you won't buy even if Fred shows you how he can make green beans turn into gold. Fred ...
by GCD
Sat Dec 01, 2018 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: Hiring a Nanny
Replies: 13
Views: 1405

Re: Hiring a Nanny

We have a maid that we employ directly, not through a service. Our insurer told us there was no need to get more insurance. We have a 3 million umbrella in addition to normal homeowners insurance and they advised that she would be covered under those policies. The couple should check with their insu...
by GCD
Mon Nov 26, 2018 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Federal Job Offer - Should I take it?
Replies: 58
Views: 3852

Re: Federal Job Offer - Should I take it?

I was with the federal government for over 30 years. It was a great career with good pay for my specialty. The Agency I worked for has Cost of living adjustments for high cost areas (NY, SF, LA,DC, etc). This was on top of salary. I am not sure if EPA has similar programs, worth asking. The salary ...
by GCD
Mon Nov 26, 2018 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Federal Job Offer - Should I take it?
Replies: 58
Views: 3852

Re: Federal Job Offer - Should I take it?

You are eligible for Veterans Preference -- don't settle for the first Federal job offer! You have a significant hiring advantage over the general public so I don't see the need to accept this offer just to get into the civil service. There are Federal jobs all over the country in HCOL, MCOL, and L...
by GCD
Mon Nov 26, 2018 5:27 pm
Forum: Personal Consumer Issues
Topic: Facebook follow question
Replies: 6
Views: 540

Re: Facebook follow question

You can go on facebook and see part of the page without signing in. A big banner covers most of the screen until you sign in, but you can still see a page and scroll around. Useless for general surfing, but for the purpose of a quick check of a specific thing it might work. Otherwise I recommend the...
by GCD
Sun Nov 25, 2018 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: When to stop and settle at one place?
Replies: 27
Views: 3076

Re: When to stop and settle at one place?

"House related " is just a financial question. Will your new opportunity dwarf or at least beat the costs of moving? Is other "future planning" a potential spouse? You might need to stick around to solidify the relationship. I did the whole move to follow opportunity thing 4 times, including coast t...
by GCD
Tue Nov 20, 2018 9:30 pm
Forum: Investing - Theory, News & General
Topic: [The Economist: Should investors diversify away from America?]
Replies: 24
Views: 3836

Re: Thoughts on this article from The Economist?

[quoted post removed by admin LadyGeek] I happen to agree with regard to third world, emerging markets. But I think many countries are equal or superior to the US in some regards. The Heritage Foundation only ranked the US 18th in its 2018 rankings of Financial Freedom: https://www.heritage.org/ind...
by GCD
Mon Nov 19, 2018 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: [Financial] Habits of the Rich
Replies: 222
Views: 29235

Re: [Financial] Habits of the Rich

OK, fair enough. We have different definitions of friend.
by GCD
Mon Nov 19, 2018 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: [Financial] Habits of the Rich
Replies: 222
Views: 29235

Re: [Financial] Habits of the Rich

I do have more recent friends but I found out (not that I had any illusions) pretty quick that if you have to ask somebody to cosign a 100k educational loan, is the good friend from high school who is a college professor making 50k a year who will do it in a second, not the 1 million NW new friends...
by GCD
Sun Nov 18, 2018 11:18 am
Forum: Personal Finance (Not Investing)
Topic: parents buying home for sibling
Replies: 44
Views: 5716

Re: parents buying home for sibling

Just because it is your expectation does not mean it is universal. Well that's certainly true. If someone doesn't believe in treating their children equitably then I'd just have to agree to disagree. Of course I don't know the backstory on why this behavior might exist. There is clearly already a r...
by GCD
Sun Nov 18, 2018 10:56 am
Forum: Personal Finance (Not Investing)
Topic: parents buying home for sibling
Replies: 44
Views: 5716

Re: parents buying home for sibling

Since when are children entitled to their inheritance? Arguably, charities that the parents might otherwise support are also getting "screwed". Equity between children is a reasonable expectation. How one achieves equity is complicated, hence my recommendation of a nearly 500 page book rather than ...
by GCD
Sat Nov 17, 2018 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: parents buying home for sibling
Replies: 44
Views: 5716

Re: parents buying home for sibling

Yeah, so it's beyond me to summarize and address all the potential issues going on here. There's a whole book on this type of thing: https://www.amazon.com/Beyond-Grave-Revised-Updated-Children/dp/0062336223/ref=sr_1_1?ie=UTF8&qid=1542505276&sr=8-1&keywords=beyond+the+grave+book Ultimately this has ...
by GCD
Fri Nov 16, 2018 12:12 pm
Forum: Personal Consumer Issues
Topic: Are gift cards for fund raising worth it?
Replies: 23
Views: 1199

Re: Are gift cards for fund raising worth it?

greg24 wrote:
Fri Nov 16, 2018 11:38 am
Sounds a lot easier to cough up a $20 or $50 cash donation.
This. The hassle of all these fundraising programs kills my enthusiasm. I'm happy to just give a straight up donation though.
by GCD
Thu Nov 08, 2018 6:24 pm
Forum: Investing - Theory, News & General
Topic: Whats your number to walk away?
Replies: 301
Views: 45837

Re: Whats your number to walk away?

My wife and I projected what our expected pensions were going to be and adjusted our pre-retirement expenses to what our pensions would be. We live on that very happily and don't touch our investments. Someday we might, but we don't see it in the medium term future. We both retired immediately upon ...
by GCD
Wed Nov 07, 2018 8:48 pm
Forum: Personal Consumer Issues
Topic: Self publishing help needed
Replies: 2
Views: 263

Re: Self publishing help needed

So in my eternal quest to fund my minor children's IRAs... My kids wrote a couple childrens books and we put them on Amazon. The process isn't very difficult. https://www.amazon.com/gp/seller-account/mm-summary-page.html?topic=200260520. What I discovered is that you are in charge of marketing with ...
by GCD
Sun Nov 04, 2018 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching kids there is an ample amount of money
Replies: 108
Views: 8067

Re: Teaching kids there is ample amount of money

There's a book, Capital Without Borders , that talks about how the wealthy manage their money. It also references, Family Wealth: Keeping it in the Family , and describes it as the bible of the wealth management profession. While both of these books are about how to manage money and preserve money, ...
by GCD
Sun Nov 04, 2018 1:02 pm
Forum: Personal Consumer Issues
Topic: Post FiRE job...teaching??
Replies: 33
Views: 3974

Re: Post FiRE job...teaching??

The CC env't is quite different from teaching at a 4-year state university or private college. 4 year colleges tend to have student bodies comprised of fairly uniform students in terms of age, ability, educational background, familial financial stability, etc. The community college population is to...
by GCD
Sun Nov 04, 2018 12:25 pm
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 3890
Views: 1087207

Re: What Movie Have You Recently Watched?

I recently re-watched The Duellists with my family. Everyone enjoyed it, teenagers and adults. It was Ridley Scott's first time directing and features Harvey Keitel and David Carradine as two officers in Napoleon's army that have a long simmering feud with each other resulting in a half dozen duels ...
by GCD
Sat Nov 03, 2018 8:04 pm
Forum: Personal Consumer Issues
Topic: retirement travel: RVs vs fly/drive/hotel
Replies: 98
Views: 9341

Re: retirement travel: RVs vs fly/drive/hotel

Nah, motorhomes are a bad maintenance deal. If your truck breaks down, any of tens of thousands of shops can fix it. If your motorhome breaks you have to take it to a shop that fixes trucks. That's just so you can get it in the door. The brother of a friend (yeah, I know) had a motorhome that he ha...
by GCD
Sat Nov 03, 2018 6:51 pm
Forum: Personal Consumer Issues
Topic: retirement travel: RVs vs fly/drive/hotel
Replies: 98
Views: 9341

Re: retirement travel: RVs vs fly/drive/hotel

Nah, motorhomes are a bad maintenance deal. If your truck breaks down, any of tens of thousands of shops can fix it. If your motorhome breaks you have to take it to a shop that fixes trucks. That's just so you can get it in the door. The brother of a friend (yeah, I know) had a motorhome that he had...
by GCD
Fri Nov 02, 2018 11:27 pm
Forum: Personal Consumer Issues
Topic: Advice on RV rentals
Replies: 7
Views: 1054

Re: Advice on RV rentals

We used Cruise America for 3 different trips. It's a good way to get a sense of what you are getting into without buying. We were satisfied with the prices/quality. One of the things we found out is my wife gets car sick if she rides too far back or sideways. So she had to be up fron with me in the ...
by GCD
Fri Nov 02, 2018 11:16 pm
Forum: Personal Consumer Issues
Topic: retirement travel: RVs vs fly/drive/hotel
Replies: 98
Views: 9341

Re: retirement travel: RVs vs fly/drive/hotel

Hope this will stimulate some discussion and thoughts that will help more than just myself. :sharebeer So in the mode of stimulating discussion... Have you thought about a boat? My wife and I are taking boating lessons in anticipation of doing the Great Loop. This is a trip that takes you on a full...
by GCD
Sun Sep 23, 2018 11:57 am
Forum: Personal Consumer Issues
Topic: Minimalist Lifestyle
Replies: 92
Views: 11773

Re: Minimalist Lifestyle

It's one thing to travel for a few months out of a suitcase and quite another to become a full-time vagabond with only a suitcase full of personal goods. I've lived for months out of a backpack, but with many more possessions stored elsewhere. I second the opinion above that a suitcase is fine for t...
by GCD
Wed Sep 19, 2018 5:55 pm
Forum: Personal Consumer Issues
Topic: What is your single most expensive mistake?
Replies: 293
Views: 25763

Re: What is your single most expensive mistake?

jehovasfitness wrote:
Wed Sep 19, 2018 5:52 pm
Read first page. Anyone say kids yet?
No, but a lot said wives. One leads to another I suppose.

Myself, having kids was damn sure expensive, but I don't classify it as a mistake.
by GCD
Wed Sep 19, 2018 10:38 am
Forum: Personal Consumer Issues
Topic: What is your single most expensive mistake?
Replies: 293
Views: 25763

Re: What is your single most expensive mistake?

We had long term plans to move to our favorite vacation destination by relocating our jobs. Bought land in "the perfect place" for $250K. Long story short, sold the land for about $80K. Ouch. Whatever, most of us make mistakes and I've had a bunch of wins too.
by GCD
Wed Sep 19, 2018 10:16 am
Forum: Personal Finance (Not Investing)
Topic: Does this job exist (another want-to-quit-corporate-world thread)?
Replies: 35
Views: 3773

Re: Does this job exist (another want-to-quit-corporate-world thread)?

Early-retired blogger. The seasonal USFS and NPS jobs can be difficult to get. I cannot imagine they would be suitable for the OP. This is an interesting perspective. Did you ever work for one of these agencies or even for the federal government? I ask because I see the view that "government jobs a...