Search found 2527 matches

by JoeRetire
Wed Jul 17, 2019 8:06 am
Forum: Personal Consumer Issues
Topic: Things to do in Maine
Replies: 57
Views: 4301

Re: Things to do in Maine

Don't go to coastal Maine in the summer. It's BUSY. I mean BUSY. York, Maine, being so close to Boston, is/was swamped with people. LOL! I guess it depends on what you mean by "summer" and "busy" and "swamped". York is very busy the week of July 4th. The rest of the summer it's only busy on weekend...
by JoeRetire
Wed Jul 17, 2019 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Risks of buying a Bay Area home with 4-year time horizon?
Replies: 16
Views: 1046

Re: Risks of buying a Bay Area home with 4-year time horizon?

My question is - how rational is this worry? How do I quantify just how financially risky buying a property would be given the above conditions? The worry is completely rational. For a known span of 4 years, just rent. When you move closer to family, consider how long you will stay there and make a...
by JoeRetire
Wed Jul 17, 2019 5:57 am
Forum: Investing - Theory, News & General
Topic: Merrill Lynch = Thieves?
Replies: 23
Views: 2178

Re: Merrill Lynch = Thieves?

So I guess my question is.. shouldn't there have been some kind of fiduciary responsibility on their part to at least suggest to my father to switch that account to a per-transaction based account?? Or are financial advisors completely absolved of anything like that? When you work with an adviser t...
by JoeRetire
Tue Jul 16, 2019 11:46 am
Forum: Personal Finance (Not Investing)
Topic: Buying a home; Very HCOL Area
Replies: 36
Views: 2681

Re: Buying a home; Very HCOL Area

HomerJ wrote:
Tue Jul 16, 2019 9:07 am
Not to burst your bubble, but $75,000 invested in the S&P 500 41 years ago (1978) would be worth $6.5 million today... :)
Unless you are imagining that someone paid $75k cash for the home 41 years ago, that's not relevant.
by JoeRetire
Tue Jul 16, 2019 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Buying a home; Very HCOL Area
Replies: 36
Views: 2681

Re: Buying a home; Very HCOL Area

Is there ever a break-even point where home ownership in these kinds of areas are actually "worth it" financially? First you would have to define with "worth it financially" means to you. Everyone is different. But if you are looking for a magic number above which it's not "worth it", I don't think...
by JoeRetire
Tue Jul 16, 2019 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Home Purchase Options
Replies: 7
Views: 685

Re: Home Purchase Options

LineHand wrote:
Mon Jul 15, 2019 10:23 pm
Running it through the mortgage calculator, it looks like we would reduce the mortgage payment by about $1400 by applying the equity to the new mortgage. So I am leaning towards selling.

Is there anything we are missing? Thoughts?
Sell.
by JoeRetire
Mon Jul 15, 2019 1:29 pm
Forum: Personal Consumer Issues
Topic: Retire or relocate to Portland, Maine
Replies: 16
Views: 2398

Re: Retire or relocate to Portland, Maine

South burbs of Portland is actually what I meant! I love the neighborhood feelings of houses surround by woods in three sides. Close to the city, hiking trails, and beaches. Away from but close to the urban amenities. We are actually closer to Portsmouth, NH than Portland, ME but we enjoy visiting ...
by JoeRetire
Mon Jul 15, 2019 1:13 pm
Forum: Personal Consumer Issues
Topic: Retire or relocate to Portland, Maine
Replies: 16
Views: 2398

Re: Retire or relocate to Portland, Maine

Thanks for the link. I visited this area a few times but each time lasted a week of less, as a tourist. I'd like to hear from some residents, retirees from this area. I like a lot of things in the Portland area. I am not bothered by the long winter season. Obviously, it depends on what you like for...
by JoeRetire
Mon Jul 15, 2019 1:02 pm
Forum: Personal Consumer Issues
Topic: Should I knowingly buy a fake antique?
Replies: 26
Views: 2462

Re: Should I knowingly buy a fake antique?

I recently came across a handmade/hand-cast bronze sculpture. The seller (who incidentally has 100% positive approval ratings on Ebay) claims the piece is about 100 years old. It almost certainly isn't. The thing is, regardless of whether they are antique, these pieces are unique and made by local ...
by JoeRetire
Sat Jul 13, 2019 1:23 pm
Forum: Personal Consumer Issues
Topic: I think i can spend 30k on this vacation, but wife not sure
Replies: 77
Views: 6872

Re: I think i can spend 30k on this vacation, but wife not sure

neargoyard wrote:
Sat Jul 13, 2019 10:24 am
Would like to retire in 6 years or so.
How much would you be spending annually in retirement?
Some of my savings will be eaten up by college for kids.
How much?
by JoeRetire
Sat Jul 13, 2019 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Invest in career change to Accounting for 37 yr old? Would it be foolish?
Replies: 139
Views: 6523

Re: Invest in career change to Accounting for 37 yr old? Would it be foolish?

I like the field of accounting; although, I have no experience working in it. So you like the field, but can't really know if you'd like the work. Start taking some evening Community College accounting courses. While there, talk with your professors and the placement office to learn more about the ...
by JoeRetire
Sat Jul 13, 2019 12:53 pm
Forum: Personal Investments
Topic: First post of confused retiree
Replies: 20
Views: 3203

Re: First post of confused retiree

M - gross federal pension 75,000 adjusted for inflation identical to social security. No survivor benefits. F - gross federal pension 75,000 adjusted for inflation identical to social security. No survivor benefits. F- inherited IRA balance 45,000 Min distribution 2,000/yr. no social security for e...
by JoeRetire
Sat Jul 13, 2019 6:42 am
Forum: Personal Investments
Topic: First post of confused retiree
Replies: 20
Views: 3203

Re: First post of confused retiree

M - gross pension 75,000 F - gross pension 75,000 F- inherited IRA balance 45,000 Min distribution 2,000/yr. $150,000 in brokerage account which we about to sell due to fees. $57,000 in CDs - various maturities. 1 to 5 years $50,000 in money market fund @ 1.65% However, at our ages, I am a little h...
by JoeRetire
Sat Jul 13, 2019 6:31 am
Forum: Investing - Theory, News & General
Topic: Three problems with probability of ruin
Replies: 13
Views: 1986

Re: Three problems with probability of ruin

He has expressed intemperate fury at the Social Security Administration when his readers have encountered problems trying to implement them; IMHO, not fine. For example, The latest Social Security horror story ...we continue to be shocked by new horror stories about the Social Security Administrati...
by JoeRetire
Fri Jul 12, 2019 8:04 pm
Forum: Personal Consumer Issues
Topic: Portable charger for laptop....?
Replies: 8
Views: 465

Re: Portable charger for laptop....?

Ask your son to help find a solution. I'm guessing he knows more about it than most of us.

And why does he need a portable charger? Good laptops can run for many hours these days before needing to be recharged.
by JoeRetire
Fri Jul 12, 2019 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: Can my brother afford his vacation?
Replies: 41
Views: 3610

Re: Can my brother afford his vacation?

skime wrote:
Fri Jul 12, 2019 6:49 pm
What would you have told him?
I would have told him that he alone was in a position to decide if he could afford it or not.
by JoeRetire
Fri Jul 12, 2019 3:20 pm
Forum: Investing - Theory, News & General
Topic: Americans believe they need $1.7 million, on average, to retire
Replies: 284
Views: 26921

Re: Americans believe they need $1.7 million, on average, to retire

What's the magic number for retirement savings? $1.7 million, according to a survey from Charles Schwab. How many of here are retired, or thinking of retiring, near this #? Assuming no pension and excluding paid for main residences in the numbers. Bingo. We have no pensions, and retired with just a...
by JoeRetire
Fri Jul 12, 2019 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Is any type of marriage counseling partially covered by Health insurance?
Replies: 21
Views: 1645

Re: Is any type of marriage counseling partially covered by Health insurance?

knightrider wrote:
Fri Jul 12, 2019 1:36 pm
It seems everyone from life coaches to psychiatrists offer marriage counseling! Which ones might insurance cover?
Ask your insurance company. They will know for sure.
by JoeRetire
Fri Jul 12, 2019 12:38 pm
Forum: Investing - Theory, News & General
Topic: Timing the market
Replies: 28
Views: 1686

Re: Timing the market

owenmia wrote:
Fri Jul 12, 2019 12:04 pm
"They" are saying there is going to be a correction in the next 3-12 months.
Which "they" are you willing to depend on when you place your bets?

As far as I can tell, there are lots of "theys". And for years now at least one "they" has been saying that a crash is imminent.

So, do you feel lucky?
by JoeRetire
Fri Jul 12, 2019 10:07 am
Forum: Personal Finance (Not Investing)
Topic: What would you charge if you were a FA?
Replies: 29
Views: 1952

Re: What would you charge if you were a FA?

Wouldn't you first need to achieve an accreditation? That would cost both money and time. Or are you imagining just hanging out a shingle and calling yourself a Financial Adviser? One must only pass the Series 65 exam. I took it a few months ago for fun, with zero study, and passed. It was a joke. ...
by JoeRetire
Fri Jul 12, 2019 7:27 am
Forum: Personal Finance (Not Investing)
Topic: What would you charge if you were a FA?
Replies: 29
Views: 1952

Re: What would you charge if you were a FA?

My wife sometimes suggests that when I retire that I should become a FA because I’m so knowledgeable and passionate about the topic. I generally brush that off but it got me thinking about what would a fair rate be. Wouldn't you first need to achieve an accreditation? That would cost both money and...
by JoeRetire
Thu Jul 11, 2019 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: Can Spousal SS Benefit EVER be greater that 50% of Spouses PIA??
Replies: 18
Views: 1503

Re: Can Spousal SS Benefit EVER be greater that 50% of Spouses PIA??

I have a slightly different question. Spouse is the same age as I am and has the lower income. I've looked at the various calculators and it appears we maximize SS benefits if I wait until age 70 to file and spouse files at 62. Testing a few different discount rates, it appears that for relatively ...
by JoeRetire
Thu Jul 11, 2019 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Can Spousal SS Benefit EVER be greater that 50% of Spouses PIA??
Replies: 18
Views: 1503

Re: Can Spousal SS Benefit EVER be greater that 50% of Spouses PIA??

One Ping wrote:
Thu Jul 11, 2019 7:11 pm
Someone whose opinion I usually respect said at lunch today that since they were waiting to claim their spousal benefit until FRA + 11 months (starting in August or September 2019), they would be getting more than 50% of their spouses FRA benefit.
Your friend is confused.
by JoeRetire
Thu Jul 11, 2019 3:11 pm
Forum: Personal Investments
Topic: variable life what to do with massive policy
Replies: 7
Views: 691

Re: variable life what to do with massive policy

Oulli wrote:
Wed Jul 10, 2019 12:36 pm
What should I do?
Cash it in now.
Don't buy insurance you don't need.
When you do need insurance, buy term life.
by JoeRetire
Thu Jul 11, 2019 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: anyone here use BillPay?
Replies: 22
Views: 1202

Re: anyone here use BillPay?

What gives? :confused Making bank recs rather difficult. I assume BillPay is some third party service that banks contract with? Is there some kind of ACH "handshake" they need from the payee before it "registers" with the bank? For direct transfer, it will leave your account and enter the payee's a...
by JoeRetire
Thu Jul 11, 2019 2:59 pm
Forum: Investing - Theory, News & General
Topic: Retiring Early Correlates with Greater Longevity ?
Replies: 47
Views: 4582

Re: Retiring Early Correlates with Greater Longevity ?

firebirdparts wrote:
Wed Jul 10, 2019 4:41 pm
I’d rather be dead.
In some states, you can accomplish that legally.
by JoeRetire
Thu Jul 11, 2019 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Question
Replies: 14
Views: 1596

Re: Estate Question

My brother and I are executors/beneficiaries of my Mom's Estate. Basically my Mom split our inheritance 60/40 between my brother and I (which is fine with me). My question is that because of that, how are all the Estate bills paid? (taxes owed/lawyers/capital gains etc.) Should the person inheritin...
by JoeRetire
Wed Jul 10, 2019 5:37 am
Forum: Investing - Theory, News & General
Topic: Retiring Early Correlates with Greater Longevity ?
Replies: 47
Views: 4582

Re: Retiring Early Correlates with Greater Longevity ?

There's a brand new study that demonstrates how early retirement correlates with larger homes, increased numbers of convertibles, and significant increases in travel mile points.
by JoeRetire
Mon Jul 08, 2019 7:45 pm
Forum: Investing - Theory, News & General
Topic: Calculation of SS difference between working to 62 but delay withdrawls until 70 vs working until 70
Replies: 12
Views: 1061

Re: Calculation of SS difference between working to 62 but delay withdrawls until 70 vs working until 70

What happens if I work until 62, but then delay withdrawals until 70? There will be 8 years that I didn't add to my high 35 years. So instead of having a 6 figure income the last 8 years, I will have the lower 8 years of when I first began my career. You'll also be missing out on $800,000+ of incom...
by JoeRetire
Mon Jul 08, 2019 6:39 pm
Forum: Personal Consumer Issues
Topic: (Tall) Buyer Beware: Honda Accord.
Replies: 69
Views: 5201

Re: (Tall) Buyer Beware: Honda Accord.

Just a word of advice: If you're in the market for an Accord, spend 30 minutes in the drivers seat before signing on the line. Good advice, but it applies for any car - not just Accords. The last time I was in the market for a sedan, I spent more than 30 minutes in both an Accord and a Camry. For m...
by JoeRetire
Sun Jul 07, 2019 8:54 pm
Forum: Personal Consumer Issues
Topic: Is Grass-fed milk worth it?
Replies: 82
Views: 3917

Re: Is Grass-fed milk worth it?

get_g0ing wrote:
Sun Jul 07, 2019 2:09 pm
I recently heard about 100% grass-fed milk from Maple Hill and Organic Valley.
That's just crazy. Milk can't even eat small amounts of grass, never mind 100% !

If you want to know if anything is "worth it", you have to try it, learn the price, and decide for yourself.
by JoeRetire
Sun Jul 07, 2019 8:51 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance excessive price increase -upset!
Replies: 160
Views: 9793

Re: Long term care insurance excessive price increase -upset!

I don't understand this rule.... "Rule #1 of buying insurance is to only insure risks that would be financially detrimental to you if they occurred" A couple of examples are that I can go without home insurance but I choose not to, I can also go with much lower liability insurance but I choose not ...
by JoeRetire
Sun Jul 07, 2019 1:28 pm
Forum: Personal Investments
Topic: 25 years to retirement, advice on speeding up growth?
Replies: 62
Views: 4977

Re: 25 years to retirement, advice on speeding up growth?

Getting up to 15% savings - that is definitely something I will try harder to work out. Regarding my part-time work lifestyle, I saw an opportunity and I decided to grab it and hold on. In some sense it's like borrowing 1/4 of my future retirement. A lot could be said about having that time now. Wi...
by JoeRetire
Sun Jul 07, 2019 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance excessive price increase -upset!
Replies: 160
Views: 9793

Re: Long term care insurance excessive price increase -upset!

Yep, this is the reason I am never buying LTC insurance. No way in hell am I going to flush tens, if not hundreds, of thousands of dollars down the drain in premiums only to reach a point where I cannot afford to maintain the policy. Self-insuring is the way to go. Makes perfect sense for many folk...
by JoeRetire
Sun Jul 07, 2019 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance excessive price increase -upset!
Replies: 160
Views: 9793

Re: Long term care insurance excessive price increase -upset!

I don't understand this rule.... "Rule #1 of buying insurance is to only insure risks that would be financially detrimental to you if they occurred" A couple of examples are that I can go without home insurance but I choose not to, I can also go with much lower liability insurance but I choose not ...
by JoeRetire
Sun Jul 07, 2019 1:04 pm
Forum: Personal Investments
Topic: Do I need a financial advisor to protect myself from myself?
Replies: 46
Views: 3467

Re: Do I need a financial advisor to protect myself from myself?

I have decided to fire my FA and manage those funds myself. Do you think it is better to have him liquidate my positions at market open this Monday? Looks like it would be a good time to sell as a whole (85% equities) - or is this too market-timey and I should just transfer the positions to my own ...
by JoeRetire
Sun Jul 07, 2019 12:52 pm
Forum: Investing - Theory, News & General
Topic: POST YOUR QUESTIONS FOR THE EXPERTS PANEL Q&A HERE
Replies: 36
Views: 2789

Re: POST YOUR QUESTIONS FOR THE EXPERTS PANEL Q&A HERE

For the panel to answer: - Under what conditions does it make sense to pay off a mortgage early? Under what conditions does it not? - How should one determine the optimal age to claim social security benefits? What are the considerations you would use? Is there a tool you would use? - For how long o...
by JoeRetire
Sun Jul 07, 2019 12:50 pm
Forum: Investing - Theory, News & General
Topic: POST YOUR QUESTIONS FOR THE EXPERTS PANEL Q&A HERE
Replies: 36
Views: 2789

Re: POST YOUR QUESTIONS FOR THE EXPERTS PANEL Q&A HERE

Mel Lindauer wrote:
Sun Jul 07, 2019 7:15 am
JoeRetire wrote:
Sun Jul 07, 2019 6:41 am
Question 1: Why does Allan Roth's name not have a star in front of it, like all the others?

:happy
Thanks for catching that. Now it does! Don't want to give Allan an inferiority complex. He'd never forgive me for that (unintentional) omission. 😊
Good - they are all stars!
by JoeRetire
Sun Jul 07, 2019 6:41 am
Forum: Investing - Theory, News & General
Topic: POST YOUR QUESTIONS FOR THE EXPERTS PANEL Q&A HERE
Replies: 36
Views: 2789

Re: POST YOUR QUESTIONS FOR THE EXPERTS PANEL Q&A HERE

Question 1: Why does Allan Roth's name not have a star in front of it, like all the others?

:happy
by JoeRetire
Sun Jul 07, 2019 5:50 am
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance excessive price increase -upset!
Replies: 160
Views: 9793

Re: Long term care insurance excessive price increase -upset!

spammagnet wrote:
Sat Jul 06, 2019 11:47 pm
Regarding the potential for LTCi policies with long elimination periods, do states have the authority to disallow their sale?
Yes.
by JoeRetire
Sun Jul 07, 2019 5:42 am
Forum: Personal Finance (Not Investing)
Topic: Does saving 20% towards retirement starting in your twenties allow you to retire early?
Replies: 144
Views: 13498

Re: Does saving 20% towards retirement starting in your twenties allow you to retire early?

bigtex wrote:
Sat Jul 06, 2019 8:22 pm
Will 20% savings rate towards retirement starting in my mid 20s allow me to retire early in my 40s, 50s, or on time at 60?
Saving 20% will allow you to retire earlier.

How much earlier depends on how much you need to fund your lifestyle in retirement.
by JoeRetire
Sat Jul 06, 2019 7:09 pm
Forum: Personal Investments
Topic: If I want to time the market
Replies: 59
Views: 2454

Re: If I want to time the market

To time the market, you'd have to decide to get back in. To time the market successfully, you have to be right twice. You have to get out at the right time and get back in at the right time. That's rather difficult for most. One doesn't have to time the market successfully in order to come out ahea...
by JoeRetire
Sat Jul 06, 2019 6:58 pm
Forum: Personal Investments
Topic: If I want to time the market
Replies: 59
Views: 2454

Re: If I want to time the market

livesoft wrote:
Sat Jul 06, 2019 6:54 pm
JoeRetire wrote:
Sat Jul 06, 2019 6:51 pm
That's true. One can always get lucky.
And if they are unlucky they will not be hurt by more than about 2% to 6%.
I suppose one could concoct any scenario with any definition of "partially successful" one wishes and thus come out with whatever effect one chooses.
by JoeRetire
Sat Jul 06, 2019 6:51 pm
Forum: Personal Investments
Topic: If I want to time the market
Replies: 59
Views: 2454

Re: If I want to time the market

To time the market, you'd have to decide to get back in. To time the market successfully, you have to be right twice. You have to get out at the right time and get back in at the right time. That's rather difficult for most. One doesn't have to time the market successfully in order to come out ahea...
by JoeRetire
Sat Jul 06, 2019 6:50 pm
Forum: Personal Investments
Topic: Under age 50 and have a stock allocation less than 50%?
Replies: 25
Views: 2540

Re: Under age 50 and have a stock allocation less than 50%?

I'm thinking I may be more conservative and risk-averse than most people my age (mid-40's). I suspect you are indeed more risk-averse. But so what? Using portfoliovisualizer.com, it looks like I could reasonably get my preferred retirement account balance ($3 million at minimum) without actually ta...
by JoeRetire
Sat Jul 06, 2019 6:36 pm
Forum: Personal Investments
Topic: If I want to time the market
Replies: 59
Views: 2454

Re: If I want to time the market

Let me put it more clear. I feel uncomfortable at this market level and I want to take some money off the table. I have achieved my goal of financial Independence. I am more interested in preserving gains than making more gains (at this market level). So if the market does not crash, I'm fine. I ju...
by JoeRetire
Sat Jul 06, 2019 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: Need Perspectives on Potential Home Buying Decision
Replies: 20
Views: 1173

Re: Need Perspectives on Potential Home Buying Decision

I am 33, no kids and not married. Kids are not in the plans. No plans to ever get married? I have a little over $300K in savings in a money market. Up until this year, I had not really thought about investing it because I am really risk averse. Maybe that is why I am in the predicament I am in. Thr...
by JoeRetire
Sat Jul 06, 2019 6:04 pm
Forum: Personal Investments
Topic: 25 years to retirement, advice on speeding up growth?
Replies: 62
Views: 4977

Re: 25 years to retirement, advice on speeding up growth?

I would like to ramp up the risk/return to try to speed up the growth of my investments. I live in NYC and it's tough to save as you know. Also I only work 30hrs/wk, so it's a tough squeeze balancing this lifestyle choice with longer term investment planning. The way to speed things up is to save m...
by JoeRetire
Sat Jul 06, 2019 6:21 am
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance excessive price increase -upset!
Replies: 160
Views: 9793

Re: Long term care insurance excessive price increase -upset!

Wow2012, thank you for your posts. They are informative and full of accurate facts. We have excellent LTC policies for portfolio insurance and lifestyle insurance. We can self-insure but our policy was a no-brainer. Thank you for the encouragement. Seriously, it's comforting to have one knowledgeab...
by JoeRetire
Fri Jul 05, 2019 6:30 pm
Forum: Personal Consumer Issues
Topic: Buying a suit
Replies: 35
Views: 1940

Re: Buying a suit

I'm at that point in life when the suit I bought after graduating college is now 20+ years old, and having a suit for the occasional wedding/company party/interview/funeral (more the latter, unfortunately) is probably not a bad idea. But I'm not even sure where to start - my previous suit was Jos A...