Search found 3391 matches

by JoeRetire
Wed Nov 13, 2019 7:38 am
Forum: Personal Investments
Topic: SIL retirement puzzle
Replies: 25
Views: 1304

Re: SIL retirement puzzle

My SIL has declared herself retired. Here are the salient facts: Age: 63 Current Income: $2,400/month from ssdi Pension at 65: $1,100/ month Savings: $413k in high yield savings accounts Expenses: $4k/month Debt: none Home: none (lives with family) Car: none Questions: 1. How much can she afford to...
by JoeRetire
Tue Nov 12, 2019 7:31 pm
Forum: Investing - Theory, News & General
Topic: Ally savings rate changing
Replies: 18
Views: 2198

Re: Ally savings rate changing

Gnirk wrote:
Tue Nov 12, 2019 6:12 pm
Just received a notice from Ally that they are reducing the interest on savings accounts from 1.80% to 1.70 % effective Nov 13th.
It goes up. It goes down.

This shouldn't be a surprise.
by JoeRetire
Tue Nov 12, 2019 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Selling house with no commissions,fair deal?
Replies: 38
Views: 1673

Re: Selling house with no commissions,fair deal?

I have worked out the details with the broker.I will pay 5000 of the solar buyout and he will pay the rest.He will pay for any repairs and make the December mortgage payment.I will end up with the full amount for my brothers estate that I was hoping for. That was fast. Well then, congratulations an...
by JoeRetire
Tue Nov 12, 2019 4:27 pm
Forum: Investing - Theory, News & General
Topic: The End Is Near....Isn't It ?
Replies: 27
Views: 1881

Re: The End Is Near....Isn't It ?

So, am I the only one who feels uncomfortable with what the economy has in store for us in 2020 ? I'm sure you aren't the only one. Elections, impeachments, divided/angry country...none of that can be good...right ? Some of it could be good. Some of it doesn't matter. BUT...I'm a little older now a...
by JoeRetire
Tue Nov 12, 2019 3:55 pm
Forum: Personal Consumer Issues
Topic: (Sigh) "Wasting" year-old smoke detector batteries...
Replies: 49
Views: 2186

Re: (Sigh) "Wasting" year-old smoke detector batteries...

bertilak wrote:
Tue Nov 12, 2019 9:45 am
I read a reason WHY they always indicate low battery at 2 AM.
'cause batteries know... :shock:
by JoeRetire
Tue Nov 12, 2019 3:53 pm
Forum: Personal Consumer Issues
Topic: (Sigh) "Wasting" year-old smoke detector batteries...
Replies: 49
Views: 2186

Re: (Sigh) "Wasting" year-old smoke detector batteries...

Methinks I'm being mulcted by the greedy robber barons of the infamous battery trust. "Mulcted"? Thanks! That's for my new word of the day. I'm going to use it as much as I can today. How do other Bogleheads handle this terrible problem? I don't ever want to get mulcted! So I keep a few batteries a...
by JoeRetire
Tue Nov 12, 2019 3:44 pm
Forum: Personal Investments
Topic: Spend It All vs. Leave $$ for the Kids
Replies: 148
Views: 10886

Re: Spend It All vs. Leave $$ for the Kids

My elder son went to an ivy league school and my younger son went to a state university, we set aside the difference of their educational cost (about $200k) for the younger son and invest it. We hope to give that money to the younger son when he needs it or when I am dead. Interesting! Do both sons...
by JoeRetire
Tue Nov 12, 2019 3:33 pm
Forum: Personal Consumer Issues
Topic: Blankets/Bedding for Cold Winter Nights
Replies: 42
Views: 2270

Re: Blankets/Bedding for Cold Winter Nights

CaptainSaver wrote:
Tue Nov 12, 2019 3:05 pm
Anyone sleep in sleeping bags?
No. I prefer to sleep indoors - particularly in the winter.
Heavy winter clothing?
Only outside.
Any guess of what the absolute most financially efficient way of staying warm while sleeping would be?
A warm spouse.
by JoeRetire
Tue Nov 12, 2019 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Grandparents helping with college
Replies: 13
Views: 1146

Re: Grandparents helping with college

My sons weren't going to be getting any needs-based aid, so we just paid for their college educations with our cash flow. We paid off our daughter-in-law's college loans after she had graduated. Had she been getting needs-based aid, it would not have been impacted at all. For our grandchildren, we h...
by JoeRetire
Tue Nov 12, 2019 3:17 pm
Forum: Investing - Theory, News & General
Topic: Flaws with 4% Rule?
Replies: 17
Views: 1950

Re: Flaws with 4% Rule?

But if I structure my retirement spending so that I could reduce costs by 25-50% in down years, doesn't that mean I could run "hot" on spending on up years? Maybe. It depends how "hot". If you could actually reduce your costs in all the years needed by 50% you have a lot of built in flexibility. I ...
by JoeRetire
Tue Nov 12, 2019 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Selling house with no commissions,fair deal?
Replies: 38
Views: 1673

Re: Selling house with no commissions,fair deal?

After speaking to several realtors and doing the math,selling as is or spending money to fix it up and sell for a higher price,it comes out to a net of about 765,000.I am trying to achieve that same result by selling it to the broker who is co-signing for his daughter.His daughter owns a house in O...
by JoeRetire
Tue Nov 12, 2019 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: Should I do a cash out refinance?
Replies: 17
Views: 1207

Re: Should I do a cash out refinance?

I'm 40. But I can see from the responses here not many here really owns a BUNCH of property. Repairs happen as properties age, its part of the game. Same as vacancy. While I do set aside reserves, when you have multiple vacancies all of a sudden, from long term tenants the reserves get drained....h...
by JoeRetire
Tue Nov 12, 2019 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Should I do a cash out refinance?
Replies: 17
Views: 1207

Re: Should I do a cash out refinance?

I'm 40. But I can see from the responses here not many here really owns a BUNCH of property. Repairs happen as properties age, its part of the game. Same as vacancy. While I do set aside reserves, when you have multiple vacancies all of a sudden, from long term tenants the reserves get drained....h...
by JoeRetire
Tue Nov 12, 2019 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Selling house with no commissions,fair deal?
Replies: 38
Views: 1673

Re: Selling house with no commissions,fair deal?

I have to sell my brothers home who recently passed. Sorry for your loss. I told him I am willing to sell if I net 765,000. So here is my concern.I believe the realtor is applying all of the no commission benefits to me,which is not fair and this is why.His daughter knows and loves the house.If she...
by JoeRetire
Tue Nov 12, 2019 2:41 pm
Forum: Personal Investments
Topic: Spend It All vs. Leave $$ for the Kids
Replies: 148
Views: 10886

Re: Spend It All vs. Leave $$ for the Kids

Given the choice between wisdom and money, wisdom is robustly superior. Just look at how lottery winners almost universally turn out. Genuinely curious here, do lottery winners "universally" turn out poorly? Of course not. I know two lottery winners in the 7-figure range. Nothing poorly about them....
by JoeRetire
Tue Nov 12, 2019 2:35 pm
Forum: Personal Investments
Topic: Spend It All vs. Leave $$ for the Kids
Replies: 148
Views: 10886

Re: Spend It All vs. Leave $$ for the Kids

My elder son went to an ivy league school and my younger son went to a state university, we set aside the difference of their educational cost (about $200k) for the younger son and invest it. We hope to give that money to the younger son when he needs it or when I am dead. Interesting! Do both sons...
by JoeRetire
Tue Nov 12, 2019 2:32 pm
Forum: Personal Investments
Topic: Spend It All vs. Leave $$ for the Kids
Replies: 148
Views: 10886

Re: Spend It All vs. Leave $$ for the Kids

My wife and I have different opinions on this. She is a spend it all person. On the other hand she says we don't want to be a burden on the kids. We are basically self insuring our LTC. That kinda means the "spend it all" option isn't exactly viable, don't you think? I am a bit confused over spendi...
by JoeRetire
Tue Nov 12, 2019 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Educate myself with financial planning
Replies: 8
Views: 440

Re: Educate myself with financial planning

1. We have cash sitting in our savings account that we'd like to invest. Wife wants to talk to a financial advisor. I'd like to manage it myself. Happy wife, happy life. 2. How do I educate myself so that I can manage the investments? Any online courses or books that help me learn what a financial ...
by JoeRetire
Tue Nov 12, 2019 7:49 am
Forum: Personal Investments
Topic: alternative investments
Replies: 13
Views: 941

Re: alternative investments

smoothnobody wrote:
Mon Nov 11, 2019 11:49 pm
kinda hungry for something new
Lottery tickets?
Sports betting?

There are plenty of ways to get exciting action depending on what gets your juices running.
by JoeRetire
Tue Nov 12, 2019 7:47 am
Forum: Personal Consumer Issues
Topic: Fruit Fly Problem
Replies: 22
Views: 2056

Re: Fruit Fly Problem

We started having fruit flies in our kitchen at the beginning of August. I've tried apple vinegar with dish soap, bleach down the drain, trying to not leave dirty dishes laying on counters and in sinks and killing them with my hand. Limited success. I need to get rid of them. We now see them in oth...
by JoeRetire
Tue Nov 12, 2019 7:23 am
Forum: Personal Finance (Not Investing)
Topic: State Estate Tax Consideration
Replies: 16
Views: 946

Re: State Estate Tax Consideration

Mostly, I'm just curious how far people really are willing to go to save estate tax monies. My knee jerk reaction when crunching the numbers is to get mad and move when I retire, particularly as Massachusetts is such an outlier in its approach to estate/inheritance tax and I have less and less tole...
by JoeRetire
Tue Nov 12, 2019 7:13 am
Forum: Personal Finance (Not Investing)
Topic: Should I do a cash out refinance?
Replies: 17
Views: 1207

Re: Should I do a cash out refinance?

I own a few rental properties and I've noticed repairs on these older buildings are getting more expensive as my band aid repairs and just wear and tear over the year's is catching up. Rents have also risen quite a bit though. Long term tenant moved out in one building. With renovations the unit wi...
by JoeRetire
Tue Nov 12, 2019 7:10 am
Forum: Personal Investments
Topic: Spend It All vs. Leave $$ for the Kids
Replies: 148
Views: 10886

Re: Spend It All vs. Leave $$ for the Kids

Ron wrote:
Mon Nov 11, 2019 8:13 pm
Then what? Suicide?
If you are thinking this, get help.
by JoeRetire
Mon Nov 11, 2019 7:43 pm
Forum: Personal Investments
Topic: Spend It All vs. Leave $$ for the Kids
Replies: 148
Views: 10886

Re: Spend It All vs. Leave $$ for the Kids

MathIsMyWayr wrote:
Mon Nov 11, 2019 5:30 pm
JoeRetire wrote:
Mon Nov 11, 2019 2:16 pm
Ron wrote:
Mon Nov 11, 2019 1:41 pm
How do you know how much to spend if you want to spend it all? :twisted:
It's a pretty simple equation:

"how much to spend" = "all"
Bill Gates has $106B. If he spends it all today, poor Bill will be broke from tomorrow.
Yup. That's how spending it all works.
by JoeRetire
Mon Nov 11, 2019 7:41 pm
Forum: Personal Consumer Issues
Topic: "Beer Money" Methods
Replies: 50
Views: 5964

Re: "Beer Money" Methods

When I want beer, I just buy some. Or garage brew some. I haven't tried that yet. Doubt it could be worth all the work, and I don't have a lot of free space in my garage. There are some pretty good microbrews in my locale. For now, I'll probably stick with those. I have yet to taste one beer that s...
by JoeRetire
Mon Nov 11, 2019 7:27 pm
Forum: Personal Investments
Topic: Will we be OK at 3% WR?
Replies: 263
Views: 17052

Re: Will we be OK at 3% WR?

bhsince87 wrote:
Sun Nov 10, 2019 9:59 pm
Will 3% + inflation work for a 54/52 year old couple?

Seems like a simple question.
It's a very simple question.

And the simple answer is: probably, but it depends.
by JoeRetire
Mon Nov 11, 2019 2:38 pm
Forum: Personal Investments
Topic: Help for MIL
Replies: 18
Views: 969

Re: Help for MIL

How are you reporting it? Are you paying taxes on it? It's her income. She reports and pay taxes on it on her EIN. We actually claim the dependent care credit for any funds that aren't covered by my Dependent Care FSA. Uhm, okay. https://www.hrblock.com/tax-center/newsroom/filing/dependents/top-que...
by JoeRetire
Mon Nov 11, 2019 2:18 pm
Forum: Personal Investments
Topic: Help for MIL
Replies: 18
Views: 969

Re: Help for MIL

How are you reporting it? Are you paying taxes on it? It's her income. She reports and pay taxes on it on her EIN. We actually claim the dependent care credit for any funds that aren't covered by my Dependent Care FSA. Uhm, okay. https://www.hrblock.com/tax-center/newsroom/filing/dependents/top-que...
by JoeRetire
Mon Nov 11, 2019 2:16 pm
Forum: Personal Investments
Topic: Spend It All vs. Leave $$ for the Kids
Replies: 148
Views: 10886

Re: Spend It All vs. Leave $$ for the Kids

Ron wrote:
Mon Nov 11, 2019 1:41 pm
How do you know how much to spend if you want to spend it all? :twisted:
It's a pretty simple equation:

"how much to spend" = "all"
by JoeRetire
Mon Nov 11, 2019 1:16 pm
Forum: Personal Investments
Topic: Help for MIL
Replies: 18
Views: 969

Re: Help for MIL

aristotelian wrote:
Mon Nov 11, 2019 10:49 am
She has been reporting the childcare as self employment income.
How are you reporting it?
Are you paying taxes on it?
by JoeRetire
Mon Nov 11, 2019 1:10 pm
Forum: Personal Consumer Issues
Topic: After 2 weeks on new job, I am wanting to return to my old job, this is a terrible idea right?
Replies: 54
Views: 5295

Re: After 2 weeks on new job, I am wanting to return to my old job, this is a terrible idea right?

NewbieBogle007 wrote:
Mon Nov 11, 2019 10:51 am
I'm not trying to be funny here, but I have a serious question: What does it mean to feel "not challenged enough" at your job -- especially if you are satisfied with your pay?
You don't understand what the words mean?
Or you cannot imagine why anyone would feel that way?
by JoeRetire
Sun Nov 10, 2019 6:45 pm
Forum: Personal Consumer Issues
Topic: Kindle/Paperwhite -E Reader
Replies: 19
Views: 1290

Re: Kindle/Paperwhite -E Reader

My mom says she'd like to try using one of these and I'd like to buy it for her. Past experience has shown she often tries electronic devices, then quickly tires of them lol. Therefore, is there a market for used Kindle Paperwhites? where would be a good, reliable place to seek a used one I could g...
by JoeRetire
Sun Nov 10, 2019 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy the family cottage?
Replies: 90
Views: 7195

Re: Should I buy the family cottage?

But this is family. Your dad got it for a good deal, instead of his siblings. You raise an interesting point, Celia. How did the original transfer work from OP's grandmother to OP's father. Was he an only child? If not was their resentment from his siblings? It's the second sentence in the original...
by JoeRetire
Sun Nov 10, 2019 4:49 pm
Forum: Investing - Theory, News & General
Topic: If you were forced to pick an alternative asset...
Replies: 87
Views: 5079

Re: If you were forced to pick an alternative asset...

HomerJ wrote:
Sun Nov 10, 2019 4:25 pm
Ah, well... win the division, then anything can happen in the playoffs...
True.
But the OP would certainly get his heart racing!! He wouldn't be bored anymore.... :)
If a racing heart is the goal, bet it all on the Chiefs/Patriots game.
by JoeRetire
Sun Nov 10, 2019 4:44 pm
Forum: Personal Investments
Topic: inheritance
Replies: 25
Views: 3018

Re: inheritance

I will receive in the future a sizable inheritance and want to invest the funds slowly and smartly. Why slowly? I am new to investing and have been studying recently and have come to the conclusion to keep it simple and with low fees. I would like to manage my own accounts in the future but will ne...
by JoeRetire
Sun Nov 10, 2019 4:14 pm
Forum: Investing - Theory, News & General
Topic: If you were forced to pick an alternative asset...
Replies: 87
Views: 5079

Re: If you were forced to pick an alternative asset...

HomerJ wrote:
Sat Nov 09, 2019 10:40 pm
Well, Mahomes is healthy again, so the Kansas City Chiefs are a lock. There you go, the hardest part is done for you.

Now you just need to scoop up all the tickets.
Mahomes is healthy. But I hope you haven't already purchased a bunch of tickets.

Exciting game!
by JoeRetire
Sun Nov 10, 2019 4:09 pm
Forum: Investing - Theory, News & General
Topic: Wait for Social Security - breakeven returns
Replies: 103
Views: 9045

Re: Wait for Social Security - breakeven returns

If instead you choose to model investing the money in bonds, or in T-bills, the return will be much lower and delaying claiming will appear superior. You will still need to contend with the risk associated with SS Trust Fund depletion. I have no idea how to model that, but ignoring it is almost cer...
by JoeRetire
Sun Nov 10, 2019 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy the family cottage?
Replies: 90
Views: 7195

Re: Should I buy the family cottage?

Given your father's intentions, he could put it in a trust so it could not be sold (at least anytime soon) and also put money in the trust for upkeep and expenses. Then the whole family could use it without anyone worrying about ability to pay or having to come up with $150k or who owns it. Not a b...
by JoeRetire
Sun Nov 10, 2019 3:47 pm
Forum: Personal Investments
Topic: What should the AA of a young retiree be?
Replies: 20
Views: 1566

Re: What should the AA of a young retiree be?

Retiring with wealth today equal to 37 times expected annual expenses only means they probably have enough money to support a remaining lifetime of expenses (we don't know what age they are but assume around 60) at about any asset allocation with almost no chance of running out of money. ??? The fi...
by JoeRetire
Sun Nov 10, 2019 3:44 pm
Forum: Personal Investments
Topic: Spend It All vs. Leave $$ for the Kids
Replies: 148
Views: 10886

Re: Spend It All vs. Leave $$ for the Kids

For the most part, I have no problem with that, except I think there are things we should be doing, like travel, that we need to do now while we still can. He agrees, but then doesn’t want to spend the money. It's unfortunate when both partners aren't quite on the same track regarding spending. Kee...
by JoeRetire
Sun Nov 10, 2019 3:42 pm
Forum: Personal Investments
Topic: Spend It All vs. Leave $$ for the Kids
Replies: 148
Views: 10886

Re: Spend It All vs. Leave $$ for the Kids

It would be interesting to know what percentage of BH believe (today) that their kids will be better off financially than they are. For my sons - one is relatively better off financially than I was at his age and one is not. They are both doing just fine overall though. And if this has any bearing ...
by JoeRetire
Sun Nov 10, 2019 3:38 pm
Forum: Personal Investments
Topic: Spend It All vs. Leave $$ for the Kids
Replies: 148
Views: 10886

Re: Spend It All vs. Leave $$ for the Kids

I agree. My mom has terminal cancer. She in all probability will leave a 401k and a 50’s ranch to brother and me. I am retired and brother is on cusp. We would rather have mom than any inheritance. Sorry to hear about your mom. We just lost my dad to stomach cancer two weeks ago. It was sad to be t...
by JoeRetire
Sun Nov 10, 2019 3:22 pm
Forum: Personal Investments
Topic: Spend It All vs. Leave $$ for the Kids
Replies: 148
Views: 10886

Re: Spend It All vs. Leave $$ for the Kids

Such thoughtful, interesting replies. Thank you all. I do hope to leave $$ for the kids and God willing, help with future grandchildren's educations and throw in some nice family vacations. But step one is doing everything possible to avoid being a burden down the road. An excellent step one! Aside...
by JoeRetire
Sun Nov 10, 2019 3:18 pm
Forum: Personal Investments
Topic: Spend It All vs. Leave $$ for the Kids
Replies: 148
Views: 10886

Re: Spend It All vs. Leave $$ for the Kids

Call_Me_Op wrote:
Sun Nov 10, 2019 8:03 am
Actually, I am in the camp of those who see leaving a large inheritance as a disservice.
A disservice to whom?
by JoeRetire
Sun Nov 10, 2019 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Planning, Wealth Management advice
Replies: 4
Views: 440

Re: Financial Planning, Wealth Management advice

Now we have built up a cash reserve and don't know how to proceed towards growing our cash savings. I don't think we have the time or the expertise to plan and grow our savings at this time and looking for recommendations to engage a professional company or person to manage our money or at least ad...
by JoeRetire
Sun Nov 10, 2019 3:10 pm
Forum: Personal Consumer Issues
Topic: After 2 weeks on new job, I am wanting to return to my old job, this is a terrible idea right?
Replies: 54
Views: 5295

Re: After 2 weeks on new job, I am wanting to return to my old job, this is a terrible idea right?

I guess I'm still just adapting to the culture shock of this place, the personalities of the consultants are very different than I am used to. People appear to be highly motivated to deliver "results" related to the metrics upon which they are measured, from what i've seen the developers are certai...
by JoeRetire
Sun Nov 10, 2019 3:04 pm
Forum: Personal Consumer Issues
Topic: Hard Wired smoke alarms. Recommendations.
Replies: 34
Views: 1864

Re: Hard Wired smoke alarms. Recommendations.

My current hard wired smoke alarms are more than 10 years old and I plan to replace them all. I am looking for recommendations for good quality long lasting alarms. I would prefer if they are both smoke and carbon mono oxide alarms. Check with your local fire department first to see what local regu...
by JoeRetire
Sun Nov 10, 2019 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy the family cottage?
Replies: 90
Views: 7195

Re: Should I buy the family cottage?

This isn't a home that I would ever sell. That's easy to say now. But at some point (financial downturn, divorce, bankruptcy, death) it may not be possible to keep. And of course once you are gone your heirs will get it unless you stipulate something in your will. My father currently has it in the ...
by JoeRetire
Sun Nov 10, 2019 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy the family cottage?
Replies: 90
Views: 7195

Re: Should I buy the family cottage?

When I was executor for my mother's cottage, valued at $82K, one sibling was willing to buy at $72k. I figured it was reasonable as I would not have to pay a realtor 7% to sell. The court required all of the siblings to sign-off that they were okay with the price and buyer. Are you willing to have ...
by JoeRetire
Sun Nov 10, 2019 2:36 pm
Forum: Personal Investments
Topic: What should the AA of a young retiree be?
Replies: 20
Views: 1566

Re: What should the AA of a young retiree be?

Let’s say a person retires at age 37 with a net worth 35 times of annual expenses. What should their AA be? Whatever lets them sleep at night. If they are comfortable with 100% stocks, great. If they are completely risk averse, then they should be out of the market completely. Otherwise, somewhere ...