Search found 717 matches

by golfCaddy
Wed Nov 07, 2018 11:31 pm
Forum: Personal Finance (Not Investing)
Topic: $300K in assets; pls help w/ auto insurance coverage
Replies: 3
Views: 622

Re: $300K in assets; pls help w/ auto insurance coverage

Search and you can find many threads on umbrella insurance.
by golfCaddy
Wed Nov 07, 2018 8:18 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Understanding Risk & Return
Replies: 19
Views: 1547

Re: Larry Swedroe: Understanding Risk & Return

Hi Lauretta, I’m not that familiar with Taleb. My understanding is that he promotes a huge allocation to the safest investments and a small allocation to the highest risk/highest expected return : barbell approach. Makes sense that his high risk investments might have the lottery like positive skew...
by golfCaddy
Tue Nov 06, 2018 8:06 pm
Forum: Personal Consumer Issues
Topic: Need ideas for unusual gifts for preteen boy
Replies: 27
Views: 1672

Re: Need ideas for unusual gifts for preteen boy

Depending on your budget/time, I would consider experiences: have him try out something he has never done before.
by golfCaddy
Tue Nov 06, 2018 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching kids there is an ample amount of money
Replies: 108
Views: 7939

Re: Teaching kids there is an ample amount of money

Not high net worth, but remember kids aren't stupid. They notice all kinds of clues as to family income and wealth: from what house people live in, from the cars people drive, to the name brand clothing, to who vacations in Europe and who has never been on an airplane, your profession, and who has t...
by golfCaddy
Mon Nov 05, 2018 9:17 pm
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: 10980

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

I think a lot of the anti-LCOL arguments here are actually straw man arguments against VLCOL, i.e. remote rural areas, which have their own plusses and minuses. I don't think that's the type of area that *most* people are considering when they're thinking about building wealth in a LCOL area. The D...
by golfCaddy
Mon Nov 05, 2018 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Evaluating Fed employment vs. contracting
Replies: 12
Views: 737

Re: Evaluating Fed employment vs. contracting

Until you have a job offer in hand, this is all hypothetical. In most of the government, it is very difficult to get a GS-15 as an outsider. You would be jumping ahead of a lot of the career civil servants. As for advantages to the government, the biggest benefit I see at your age is being able to c...
by golfCaddy
Sat Nov 03, 2018 10:07 pm
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: 10980

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

Certainly agree that sweeping generalizations aren’t very useful in a discussion like this. But unfortunately that seems to be what the internet tends to encourage, no? Even the OP admited his question was impossible to answer, yet on and on we go. Assuming the OP has the skills to get a high payin...
by golfCaddy
Sat Nov 03, 2018 4:57 pm
Forum: Personal Consumer Issues
Topic: How much does a car need to be driven?
Replies: 43
Views: 3603

Re: How much does a car need to be driven?

I've had similar problems and I don't think anything is wrong with your car. All new cars have a ton of electronics, which run all the time, creating a slow drain on the battery. From my experience, you can go about a week without driving a vehicle. Any longer than that and you should disconnect the...
by golfCaddy
Fri Nov 02, 2018 6:28 pm
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: 10980

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

HomerJ wrote:
Fri Nov 02, 2018 5:05 pm
Anyway, I'll concede all your other points. NYC is the most amazing place on Earth, and well-worth every penny.

:) :)
You've changed my mind. Everyone needs a 5000sqft home, bare minimum.
by golfCaddy
Fri Nov 02, 2018 3:55 pm
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: 10980

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

There's no such thing as apples to apples. There is nowhere in Kansas with the nightlife, concerts, professional sports teams, restaurants, art, and museums to be found in the NYC area. LOL. You've obviously never been to Kansas City. You have MORE of all those things, but how much better is 24,000...
by golfCaddy
Thu Nov 01, 2018 9:25 pm
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: 10980

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

If he or she gets an apartment in Manhattan for $4k/month, rent is only 36% of net income. Oh, I thought we were comparing apples to apples. There's no such thing as apples to apples. There is nowhere in Kansas with the nightlife, concerts, professional sports teams, restaurants, art, and museums t...
by golfCaddy
Thu Nov 01, 2018 9:07 pm
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: 10980

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

That's a legitimate point. Okay, if I'm focusing solely on saving the most, I'll rent a $700/month apartment in a LCOL area. So now I'm spending $8400 a year on rent, and the HCOL guy is spending $48,000. He'll have to make at least $40,000 more ($60,000 more when you consider taxes), to save more ...
by golfCaddy
Wed Oct 31, 2018 6:53 pm
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: 10980

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

Its not necessarily true. Someone who is frugal, saving 70% of their salary could be a decamillionaire while working in LOCL area and then decide to move to HCOL. What matters more is what % of your income you can save. This is WRONG!! If person A makes $300,000 a year and saves 20% of their salary...
by golfCaddy
Wed Oct 31, 2018 3:45 pm
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: 10980

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

It’s more important to live where your income is greater than your expenses. Depending on your job, that might be HCOL or LCOL. Many LCOL areas are LCOL because they don’t have many high paying jobs. And a HCOL location isn’t going to help you much if you don’t have the right skills to get a high p...
by golfCaddy
Tue Oct 30, 2018 10:45 pm
Forum: Personal Consumer Issues
Topic: Canada Goose Jacket
Replies: 57
Views: 4370

Re: Canada Goose Jacket

Typical heavily branded overpriced status symbol. You can get same or actually better high quality winter parka from Mountain Hardware, Marmot, or North Face for half the price. Yes and No. The top end of Canadian Goose Down, with their TEI5 rating for -22F and below, truly is best in class. The to...
by golfCaddy
Fri Oct 26, 2018 6:10 pm
Forum: Investing - Theory, News & General
Topic: Teach children to save 10% from day one...?
Replies: 31
Views: 2251

Re: Teach children to save 10% from day one...?

Thank you for all the insightful responses. There's a lot we can take away from this advice. One thing that seems to be a common theme here is "letting kids be kids" when they are young or letting them make their own choices with their money. I feel that teaching kids to automatically save money ca...
by golfCaddy
Thu Oct 25, 2018 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: Making a substantial gift to a college
Replies: 27
Views: 2076

Re: Making a substantial gift to a college

I think it's unethical to attempt to buy your kid's admissions slot, but if you want to play that game, read up on the Harvard lawsuit.
by golfCaddy
Thu Oct 25, 2018 10:30 pm
Forum: Investing - Theory, News & General
Topic: Teach children to save 10% from day one...?
Replies: 31
Views: 2251

Re: Teach children to save 10% from day one...?

I think the savings lessons can wait until the kids are at least teenagers. You see parents who are proud their kids save most of their money. The parents and relatives then buy the kids cars, iPhone Xs, name brand clothing, and pay their entertainment expenses. It's easy to save 10% or 25% when som...
by golfCaddy
Tue Oct 16, 2018 10:55 pm
Forum: Investing - Theory, News & General
Topic: Is EMH a tautology?
Replies: 108
Views: 4892

Re: Is EMH a tautology?

The EMH is testable in one specific sense. If investing was a game that required individualized skill, like Tom Brady is a great quarterback, then we would expect to see a lot of persistence in investing out-performance. The best mutual fund managers over the past 10 years will be the best mutual f...
by golfCaddy
Tue Oct 16, 2018 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Gift for two of four grandchildren
Replies: 18
Views: 2278

Re: Gift for two of four grandchildren

One unintended consequence could be reduced eligibility for financial aid, obviously depending on everyone's financial situation.
by golfCaddy
Tue Oct 16, 2018 8:36 pm
Forum: Investing - Theory, News & General
Topic: Is EMH a tautology?
Replies: 108
Views: 4892

Re: Is EMH a tautology?

The EMH is testable in one specific sense. If investing was a game that required individualized skill, like Tom Brady is a great quarterback, then we would expect to see a lot of persistence in investing out-performance. The best mutual fund managers over the past 10 years will be the best mutual fu...
by golfCaddy
Thu Oct 11, 2018 10:23 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Why Emerging Markets Matter
Replies: 82
Views: 6505

Re: Larry Swedroe: Why Emerging Markets Matter

Larry is cherry picking the data. Dimson-Marsh data shows emerging markets under-performed developed over the long run.
by golfCaddy
Sun Oct 07, 2018 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: Level of Auto Insurance to carry
Replies: 35
Views: 1869

Re: Level of Auto Insurance to carry

But even in that instance, it's still costing you to keep the insurance. Sure, as long as you don't fool yourself into thinking you are saving $1000/year, when you are actually saving $20/year. Then, you have to keep these decisions in perspective. $20 is less than a lot of families spend in one we...
by golfCaddy
Sun Oct 07, 2018 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Level of Auto Insurance to carry
Replies: 35
Views: 1869

Re: Level of Auto Insurance to carry

Insurance should only be used for risks that would be financially detrimental to you if they occurred. I disagree somewhat. You have to look at loss ratios or how fairly the insurance is priced. Collision/Comprehensive have razor thin profit margins for insurance companies. If you have a $20k+ car,...
by golfCaddy
Sun Oct 07, 2018 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Level of Auto Insurance to carry
Replies: 35
Views: 1869

Re: Level of Auto Insurance to carry

Insurance should only be used for risks that would be financially detrimental to you if they occurred. I disagree somewhat. You have to look at loss ratios or how fairly the insurance is priced. Collision/Comprehensive have razor thin profit margins for insurance companies. If you have a $20k+ car,...
by golfCaddy
Sat Oct 06, 2018 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: 20 countries where 200K in retirement savings will last you decades
Replies: 75
Views: 9128

Re: 20 countries where 200K in retirement savings will last you decades

For example you can't possible mention the health care as a big advantage when one of the main subjects on this forum (of people with much higher income that average) is the price and availability of health care in retirement. Not to mention metrics like efficiency per $ which are not that great ei...
by golfCaddy
Wed Sep 19, 2018 10:29 pm
Forum: Personal Consumer Issues
Topic: Can Sneakers go with Business Casual?
Replies: 172
Views: 8675

Re: Can Sneakers go with Business Casual?

The answer is very industry-specific, but I have seen a lot of colleagues wear nice leather sneakers (eccos) or dark-colored Allbirds (ubiquitous in Silicon Valley) on business casual days. Not anymore. https://www.vox.com/the-goods/2018/9/14/17792298/silicon-valley-stylist-fashion-tech Because one...
by golfCaddy
Tue Sep 18, 2018 10:31 pm
Forum: Investing - Theory, News & General
Topic: Is there such thing as saving TOO much?
Replies: 78
Views: 7048

Re: Is there such thing as saving TOO much?

In most cases, there is no such thing as saving too much, but there are a few exceptions. There's some people who get their self-worth from the number of zeros in their bank account, instead of viewing money as a means to an end. Then, there are the financial version of Doomsday Preppers, worrying a...
by golfCaddy
Tue Sep 18, 2018 7:45 pm
Forum: Investing - Help with Personal Investments
Topic: How real is cyber risk?
Replies: 176
Views: 10096

Re: How real is cyber risk?

Cyber risk is real: https://www.nytimes.com/interactive/2018/05/03/magazine/money-issue-bangladesh-billion-dollar-bank-heist.html, but it's nothing something I worry about much. If Vanguard or your bank account was hacked, I would expect you to eventually be made whole by the financial institutions...
by golfCaddy
Tue Sep 18, 2018 12:04 am
Forum: Personal Finance (Not Investing)
Topic: 38% pay cut for dream job?
Replies: 61
Views: 5461

Re: 38% pay cut for dream job?

It sounds like you have your mind made up, but think hard about what you're choosing for your kids. Air pollution is a terrible problem in China and India. Do you want your kids to develop asthma? Antibiotic-resistant bacteria is a global problem, but it's far worse in India. https://www.nytimes.com...
by golfCaddy
Sat Sep 15, 2018 11:21 pm
Forum: Personal Finance (Not Investing)
Topic: The Boglehead is anti-entrepreneur?
Replies: 62
Views: 4118

Re: The Boglehead is anti-entrepreneur?

I agree with him to some extent that BHs don’t like the entrepreneurial way of life, or maybe just ignore it as someone else’s cross to bear. BHs play Steady Eddie to the entrepreneur’s Fool? Would you advise a young person in their 20s or 30s, inclined to the entrepreneurial life, to go for it or ...
by golfCaddy
Sat Sep 15, 2018 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: 38% pay cut for dream job?
Replies: 61
Views: 5461

Re: 38% pay cut for dream job?

You are crazy to take a 38% pay cut, more so with kids on the way. You might think you'll get sent to Paris or some cushy assignment. It's more likely you get sent to some **** country, with bad air quality, poor sanitation, unsafe water, and kidnapping and terrorism risks. If you get sent to a coun...
by golfCaddy
Sat Sep 15, 2018 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: The Boglehead is anti-entrepreneur?
Replies: 62
Views: 4118

Re: The Boglehead is anti-entrepreneur?

There's no reason why an entrepreneur can't diversify - if you have an attractive business you will be able to raise money from investors rather than concentrating all of your assets in one venture. Facebook raised plenty of money and I've heard Zuck took enough cards off the table in the first few...
by golfCaddy
Sat Sep 15, 2018 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: The Boglehead is anti-entrepreneur?
Replies: 62
Views: 4118

Re: The Boglehead is anti-entrepreneur?

For extreme examples about guys like Zuckerberg or Bezos. Would you say they aren't entrepreneurs because they didn't plough all their money into their company but instead diversified along the way (i.e. all those private placements where he sold stock). Zuckerberg isn't remotely diversified. Even ...
by golfCaddy
Sat Sep 15, 2018 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: The Boglehead is anti-entrepreneur?
Replies: 62
Views: 4118

Re: The Boglehead is anti-entrepreneur?

Bogleheads believe at their core in diversification, which is at odds with a certain type of entrepreneurship. One can imagine if a younger Zuckerberg posted on bogleheads, his VCs offered to buy out his 50% stake in a then $100M company and 100% of his assets were in the startup, bogleheads would b...
by golfCaddy
Fri Sep 14, 2018 9:39 pm
Forum: Investing - Help with Personal Investments
Topic: How real is cyber risk?
Replies: 176
Views: 10096

Re: How real is cyber risk?

I think Vanguard would be responsible for that. I said "if you are hacked" and I meant you not Vanguard. I don't think that is the most likely scenario. All the cases I know of involved hacks of individual investors or seemed to involve hacks of individual investors. Never heard of a hack of a brok...
by golfCaddy
Fri Sep 14, 2018 8:38 pm
Forum: Investing - Help with Personal Investments
Topic: How real is cyber risk?
Replies: 176
Views: 10096

Re: How real is cyber risk?

Cyber risk is real: https://www.nytimes.com/interactive/2018/05/03/magazine/money-issue-bangladesh-billion-dollar-bank-heist.html, but it's nothing something I worry about much. If Vanguard or your bank account was hacked, I would expect you to eventually be made whole by the financial institutions...
by golfCaddy
Fri Sep 14, 2018 4:13 pm
Forum: Investing - Help with Personal Investments
Topic: How real is cyber risk?
Replies: 176
Views: 10096

Re: How real is cyber risk?

Cyber risk is real: https://www.nytimes.com/interactive/201 ... heist.html, but it's nothing something I worry about much. If Vanguard or your bank account was hacked, I would expect you to eventually be made whole by the financial institutions.
by golfCaddy
Thu Sep 13, 2018 11:00 pm
Forum: Personal Consumer Issues
Topic: Benefits/longevity of more expensive ($300+) mens dress shoes?
Replies: 75
Views: 8606

Re: Benefits/longevity of more expensive ($300+) mens dress shoes?

What a timely topic. I have been so frustrated with my shoes. I bought 3 pairs of identical black shoes for $130 each last year for a new job. My plan was to rotate them daily so they’d last longer. I got wooden cedar inserts too. Now two of the pairs have holes worn through the leather soles, one ...
by golfCaddy
Thu Sep 13, 2018 8:49 pm
Forum: Personal Consumer Issues
Topic: Benefits/longevity of more expensive ($300+) mens dress shoes?
Replies: 75
Views: 8606

Re: Benefits/longevity of more expensive ($300+) mens dress shoes?

What a timely topic. I have been so frustrated with my shoes. I bought 3 pairs of identical black shoes for $130 each last year for a new job. My plan was to rotate them daily so they’d last longer. I got wooden cedar inserts too. Now two of the pairs have holes worn through the leather soles, one ...
by golfCaddy
Thu Sep 13, 2018 7:03 pm
Forum: Personal Consumer Issues
Topic: Picking a Charity
Replies: 69
Views: 2916

Re: Picking a Charity

I like to give to medical research. It can be difficult to assess the impact of such charities.
by golfCaddy
Thu Sep 13, 2018 5:29 pm
Forum: Personal Consumer Issues
Topic: Benefits/longevity of more expensive ($300+) mens dress shoes?
Replies: 75
Views: 8606

Re: Benefits/longevity of more expensive ($300+) mens dress shoes?

Allen Edmonds are good quality, but the they have the typical clunky american design. You've got to go British when buying dress shoes... Church Loakes Grenson Cheaney Barker And yes, in general, you get what you pay for. Obviously on a site like this you'll find people trying to convince you that ...
by golfCaddy
Mon Sep 10, 2018 6:08 pm
Forum: Personal Consumer Issues
Topic: Can Sneakers go with Business Casual?
Replies: 172
Views: 8675

Re: Can Sneakers go with Business Casual?

I'm just wondering something out of curiosity. I don't have a claim on this one way or another because I don't know, I just know that sneakers are informal, whereas cap-toe oxfords are formal. I have no clue whether chucks or vans are on same level as running shoes, but I do see people wear them at...
by golfCaddy
Sun Sep 09, 2018 10:22 pm
Forum: Personal Consumer Issues
Topic: Can Sneakers go with Business Casual?
Replies: 172
Views: 8675

Re: Can Sneakers go with Business Casual?

get_g0ing wrote:
Sun Sep 09, 2018 9:44 pm
So I'm wondering this: why would chuk/van be considered more formal than sneakers (or not)?
Chucks are sneakers. https://en.wikipedia.org/wiki/Sneakers# ... eakers.JPG
by golfCaddy
Sun Sep 09, 2018 9:00 pm
Forum: Personal Consumer Issues
Topic: Can Sneakers go with Business Casual?
Replies: 172
Views: 8675

Re: Can Sneakers go with Business Casual?

You stated that Vans or Chucks or like footwear are on the same level as literal running shoes in workplace formality. In the majority of situations/environments in contemporary culture, that simply isn't true. I'm not sure how not being able to wear "casual" footwear in your workplace in any way c...
by golfCaddy
Sun Sep 09, 2018 7:35 pm
Forum: Personal Consumer Issues
Topic: Can Sneakers go with Business Casual?
Replies: 172
Views: 8675

Re: Can Sneakers go with Business Casual?

I feel extremely confident in saying you are in outlier in thinking this. Yes, there are workplace environments where I would never wear a pair of Chucks or Vans or retro NBs, but there are zero non-manual labor workplaces where I'd show up in literal running shoes. I'd conservatively estimate that...
by golfCaddy
Sun Sep 09, 2018 12:53 pm
Forum: Personal Consumer Issues
Topic: Can Sneakers go with Business Casual?
Replies: 172
Views: 8675

Re: Can Sneakers go with Business Casual?

That's the reason I made the post in the first place. The intent behind was that if otherwise you do a good job, are cleanly dressed and professional, would your shoes be cared about? Why would your shoes be cared about, isn't the right question to ask. You either accept the way it is or go work so...
by golfCaddy
Sun Sep 09, 2018 12:10 pm
Forum: Personal Consumer Issues
Topic: Can Sneakers go with Business Casual?
Replies: 172
Views: 8675

Re: Can Sneakers go with Business Casual?

This. I guess it depends on what is the definition of "business casual" in your specific environment, but legitimate running shoes are a no-go in pretty much any environment. Although I'm a director-level employee I wear "sneakers" (vans, reefs, casual new balance) to work 90% of the time; basicall...
by golfCaddy
Sun Sep 09, 2018 11:20 am
Forum: Personal Consumer Issues
Topic: Can Sneakers go with Business Casual?
Replies: 172
Views: 8675

Re: Can Sneakers go with Business Casual?

Some visual ideas for the OP. I think the key if you want to go this route is to go low profile on the shape and veer towards monochromatic color schemes and keeping things to a single texture and simple shapes. If your idea is to simply have your gym shoes or running shoes serve double duty. That ...
by golfCaddy
Sun Sep 09, 2018 11:13 am
Forum: Investing - Help with Personal Investments
Topic: Umbrella Policy: Right amount for $7 mil net worth?
Replies: 76
Views: 11272

Re: Umbrella Policy: Right amount for $7 mil net worth?

I see, thank you. It baffles me that the owner of a house or that a condo association would be found at fault (or whatever the legal term is) when someone drowns in their pool or slips when when on the premises, if the accident happens with no (direct?) fault of the owner's or the association's. Ho...