Search found 951 matches

by dknightd
Sat Nov 17, 2018 9:54 pm
Forum: Personal Finance (Not Investing)
Topic: Why I plan on buying a life annuity - even if it is a stupid idea
Replies: 82
Views: 6447

Re: Why I plan on buying a life annuity - even if it is a stupid idea

The Wizard wrote:
Sat Nov 17, 2018 11:34 am
Actually, no.
If we die early, the bulk of "our" remaining money in the annuity goes to other annuitants who end up living longer.
This is the essence of Mortality Credits...
Good point.
by dknightd
Sat Nov 17, 2018 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Why I plan on buying a life annuity - even if it is a stupid idea
Replies: 82
Views: 6447

Re: Why I plan on buying a life annuity - even if it is a stupid idea

I plan to buy one (or more) also, I don't think it is a stupid idea. People with defined benefit plans are sometimes offered the opportunity to take their pension as a lump sum. Sometimes this is a good idea, sometimes not. People with a defined (or voluntary) contribution plans often end up with a ...
by dknightd
Fri Nov 16, 2018 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: How Long / Hard To Become a Millionaire on Under $100k Income
Replies: 131
Views: 10121

Re: How Long / Hard To Become a Millionaire on Under $100k Income

I think I read someplace that if you save 30% of your gross pay for 30 years you should be able to replace all your take home pay in retirement. Can't find it now, but pretty sure that should work for most people.
by dknightd
Fri Nov 16, 2018 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Incompetent home inspector - what to do?
Replies: 37
Views: 2831

Re: Incompetent home inspector - what to do?

novembre wrote:
Fri Nov 16, 2018 3:27 pm

I could go on. .... there were more, and I will admit that there were a few legitimate concerns, non serious.
I guess fix those before you list the house again.
by dknightd
Fri Nov 16, 2018 12:58 pm
Forum: Investing - Theory, News & General
Topic: If riskier than US, why doesn't international outperform?
Replies: 68
Views: 5010

Re: If riskier than US, why doesn't international outperform?

One day it it might outperform. Who knows. That is why I diversify.
by dknightd
Fri Nov 16, 2018 12:49 pm
Forum: Personal Consumer Issues
Topic: One food I could never give up
Replies: 33
Views: 1680

Re: One food I could never give up

+1 And according to an article on Guinness it's even healthy for you! https://www.spinemd.com/news-philanthropy/drink-up-5-health-benefits-of-guinness-beer My mom was apparently told to drink Guinness when she was pregnant with me. She gave it up. But apparently I'm still an addict. Malted grain be...
by dknightd
Fri Nov 16, 2018 12:43 pm
Forum: Investing - Help with Personal Investments
Topic: Trying to Decide Future Investments
Replies: 15
Views: 1179

Re: TRYING TO DECIDE FUTUTRE INVESTMENTS

I'm 62, retired with a total retirement income of $80,000.00. I have 450k in my 401k that is not being used fir income. My wife is still working. also 15 yrs younger than I. I recently attended 401k a seminar that introduced me to annuity index funds with great American insurance co. I haven't sign...
by dknightd
Fri Nov 16, 2018 12:26 pm
Forum: Personal Consumer Issues
Topic: One food I could never give up
Replies: 33
Views: 1680

Re: One food I could never give up

In this land of plenty, there are perhaps too many options
by dknightd
Fri Nov 16, 2018 12:15 pm
Forum: Personal Consumer Issues
Topic: One food I could never give up
Replies: 33
Views: 1680

Re: One food I could never give up

cheese would be hard to give up. and nuts. Eat what makes you happy. I like some greenery every once in a while. And yellow or orange veg. IMO your body will tell you what to eat, listen
by dknightd
Fri Nov 16, 2018 12:07 pm
Forum: Personal Consumer Issues
Topic: One food I could never give up
Replies: 33
Views: 1680

Re: One food I could never give up

panhead wrote:
Fri Nov 16, 2018 11:38 am
unless we are considering beer as a food!
I consider beer as food.

https://www.beeradvocate.com/archived-articles/519/
by dknightd
Fri Nov 16, 2018 11:56 am
Forum: Personal Consumer Issues
Topic: Cremation seminar – with complimentary lunch
Replies: 64
Views: 4019

Re: Cremation seminar – with complimentary lunch

When I retire and have time to waste I might start going to these things. You might meet interesting people. Free food. Free information. You can always walk out if you want. . .
by dknightd
Fri Nov 16, 2018 11:49 am
Forum: Personal Consumer Issues
Topic: My experience with iPhone6s battery replacement
Replies: 30
Views: 2158

Re: My experience with iPhone6s battery replacement

I have an older 5s. I bought a battery on amazon for 420 . oops $20. It was a risk. But for $20 I figured I'd take the risk. Result - happy new phone :)
by dknightd
Fri Nov 16, 2018 11:30 am
Forum: Personal Consumer Issues
Topic: One food I could never give up
Replies: 33
Views: 1680

Re: One food I could never give up

Marmite

OK I could give it up if needed ;)

Is beer considered a food?
by dknightd
Fri Nov 16, 2018 11:24 am
Forum: Personal Consumer Issues
Topic: which snow blower ?
Replies: 42
Views: 1970

Re: which snow blower ?

It is the end of driveway plow mound where you really appreciate a snow blower. Mine is a small blower, so that sometimes takes several passes. I'm OK with that.
by dknightd
Fri Nov 16, 2018 11:16 am
Forum: Personal Consumer Issues
Topic: which snow blower ?
Replies: 42
Views: 1970

Re: which snow blower ?

And buy spare shear pins. In case you run into a stick or newspaper or something else under the snow.
by dknightd
Fri Nov 16, 2018 10:55 am
Forum: Personal Consumer Issues
Topic: which snow blower ?
Replies: 42
Views: 1970

Re: which snow blower ?

You should visit https://www.snowblowerforum.com/ I bought a honda 724 about 10 years ago. Between two big storms. It is a tracked blower. Harder to turn, but lets me adjust the auger height. I find that very handy. I use middle position most of the time. I raise the auger to clear a path for the ma...
by dknightd
Wed Nov 14, 2018 10:34 pm
Forum: Investing - Theory, News & General
Topic: Can someone explain specifically how the "bucket" approach to retirement withdrawals is supposed to work?
Replies: 75
Views: 4771

Re: Can someone explain specifically how the "bucket" approach to retirement withdrawals is supposed to work?

Before SS I have 8 yearsin cash equivalents. Super safe. This heads more towards liability matching for this period of retirement. After SS, I want to have 3 years of cash equivalents set up ... no need to decide immediately how to withdraw money from stock/bond funds and I can bide my time. Decidi...
by dknightd
Wed Nov 14, 2018 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Wait, do I need a prenup?
Replies: 63
Views: 6534

Re: Wait, do I need a prenup?

spectec wrote:
Wed Nov 14, 2018 9:55 pm
I suppose everybody's different. For the past 48 years, my wife and I have viewed marriage as a 100% partnership. Two partners, each giving 100%.
+1
by dknightd
Wed Nov 14, 2018 10:03 pm
Forum: Personal Finance (Not Investing)
Topic: Wait, do I need a prenup?
Replies: 63
Views: 6534

Re: Wait, do I need a prenup?

I don't think you need a prenup. If you, or your future spouse, want one, then I guess go ahead.
To me it seems like planning for your marriage to end. In which case, why get married?
by dknightd
Wed Nov 14, 2018 8:14 pm
Forum: Personal Consumer Issues
Topic: Understanding the difference in cell phone OS types
Replies: 46
Views: 2208

Re: Understanding the difference in cell phone OS types

My usual advice is select what you want to do with the device, then select the device that will do it. If you just want your phone to make calls, text, take pictures, etc it probably does not matter. If you want your phone to play nice with your ipad, get an iphone aka ios. Do you have a computer? I...
by dknightd
Wed Nov 14, 2018 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Homeowners Insurance Claim-Experiences?
Replies: 14
Views: 966

Re: Homeowners Insurance Claim-Experiences?

I've never gone through anything like this. But if it were me I'd ask the insurance company how long the process will take to get the check. It sounds like they have given you a preliminary estimate (or was that from the remediation company)?. I'd probably get started on repairs using your prelimina...
by dknightd
Wed Nov 14, 2018 6:42 pm
Forum: Personal Consumer Issues
Topic: Honda reliability slipping?
Replies: 58
Views: 7187

Re: Honda reliability slipping?

Just opinions. When it comes to vehicle reliability nobody knows nothin'. Consumer Reports reliability ratings are based on hard data, not opinions. Unlike the market, in this case, someone knows somethin'. I'm pretty sure Consumer reports bases their reliability ratings on the annual survey they s...
by dknightd
Tue Nov 13, 2018 7:00 pm
Forum: Investing - Help with Personal Investments
Topic: Roth vs. Traditional 401k
Replies: 129
Views: 6154

Re: Roth vs. Traditional 401k

It is a crap shoot. Nobody knows what tax rates might be in the future. I'm trying to stuff money in Roth, because I have very little in those accounts. They might be handy for lumpy futures expenses, and might be better to pass down if I don't need those funds. I diversify my investments, to me it ...
by dknightd
Tue Nov 13, 2018 6:16 pm
Forum: Investing - Help with Personal Investments
Topic: Social Security Claiming Strategy - Seeking Confirmation
Replies: 30
Views: 2964

Re: Social Security Claiming Strategy - Seeking Confirmation

Seeking confirmation of our SS claiming strategy: DW turns 62 in mid-2019. Her PIA will be approximately 1400/month. I am 18 months her junior and have an anticipated PIA of approximately 2950/month. Based on Mike Piper's opensocialsecurity tool, it suggests that DW should apply so that her social ...
by dknightd
Tue Nov 13, 2018 5:26 pm
Forum: Investing - Help with Personal Investments
Topic: I can't take this anymore=) I'm selling stocks and buying bonds!
Replies: 97
Views: 12906

Re: I can't take this anymore=) I'm selling stocks and buying bonds!

Here is what my portfolio will look like when I finish all adjustments. What do you think? VOO Vanguard 500 Index Fund 33% VOE Vanguard Mid-Cap Value ETF 5% VBR Vanguard Small-Cap Value ETF 10% POGRX PRIMECAP Odyssey Growth Fund 5% BIV Vanguard Intermediate-Term Bond ETF 22% PONAX PIMCO Income Fund...
by dknightd
Mon Nov 12, 2018 4:46 pm
Forum: Investing - Help with Personal Investments
Topic: Is maxing out Tax defered 401(k) enough?
Replies: 49
Views: 4804

Re: Is maxing out Tax defered 401(k) enough?

95/5 is very aggressive. Fine if you are up to the potential wild swings. I might dial that back to 80/20 or 70/30. But that is just me. Do what makes you happy. You'll probably come out ahead as long as you do not panic and sell when stocks go down.
by dknightd
Mon Nov 12, 2018 3:26 pm
Forum: Investing - Help with Personal Investments
Topic: Is maxing out Tax defered 401(k) enough?
Replies: 49
Views: 4804

Re: Is maxing out Tax defered 401(k) enough?

If early retirement means before 59.5 years old. You should probably look at the the rules for taxing your 401k withdrawals. I agree with spirit rider, you seem on a track to retire at about 60. Which I consider early, but you may not. Also, if you think you may move out of the USA you should look a...
by dknightd
Mon Nov 12, 2018 2:13 pm
Forum: Investing - Help with Personal Investments
Topic: Is maxing out Tax defered 401(k) enough?
Replies: 49
Views: 4804

Re: Is maxing out Tax defered 401(k) enough?

I think you'll be OK. If you both max your 401k that is about 15% of your salaries. Plus your employers kick in another 4-7%. If you keep saving 19-22% of your salaries you should be in good shape IMO. I guess it depends on how you define early retirement. Your expenses will go down when your kids m...
by dknightd
Sun Nov 11, 2018 11:49 am
Forum: Personal Consumer Issues
Topic: retirement travel: RVs vs fly/drive/hotel
Replies: 98
Views: 9203

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

I'd like to buy one of these, or similar https://winnebagoind.com/products/class-b/2018/revel/overview But that would be about 10% of what we have saved up. We could fly and hotel many times for the cost of it. But some places we want to go there are no hotels. And flying is not much fun these days....
by dknightd
Sun Nov 11, 2018 10:07 am
Forum: Personal Consumer Issues
Topic: Seeking Advice - Emergency Preparedness
Replies: 56
Views: 3297

Re: Seeking Advice - Emergency Preparedness

Have you looked into the option of using a battery bank instead of an external generator? You can buy lots of battery storage and an inverter for the cost of a whole house generator. My needs so far are pretty modest, and I'm still healthy. My boiler is a single pipe steam system. The only reason it...
by dknightd
Fri Nov 09, 2018 6:38 pm
Forum: Personal Consumer Issues
Topic: How to stop junk mail for a deceased person
Replies: 61
Views: 6050

Re: How to stop junk mail for a deceased person

Kuckie wrote:
Fri Nov 09, 2018 6:33 pm
I had the same problem even after notifying the senders (mostly magazine companies) and the Postal Service. Finally I sent a new change of address to the cemetery where she currently resides. Never heard from them again
Very clever !
by dknightd
Fri Nov 09, 2018 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Doing taxes by hand
Replies: 83
Views: 4815

Re: Doing taxes by hand

I did not know they allowed use of a pencil !
by dknightd
Fri Nov 09, 2018 6:20 pm
Forum: Investing - Help with Personal Investments
Topic: Convinced wife to invest but wants her own accounts
Replies: 22
Views: 3374

Re: Convinced wife to invest but wants her own accounts

I would suggest saving 50% of your salary, and 50% of hers. Or maybe 25%/25%, or 15/15, or whatever works for you.
by dknightd
Fri Nov 09, 2018 3:38 pm
Forum: Personal Consumer Issues
Topic: Favorite "free stuff"?
Replies: 131
Views: 9733

Re: Favorite "free stuff"?

Hugs and kisses.
by dknightd
Fri Nov 09, 2018 3:24 pm
Forum: Investing - Help with Personal Investments
Topic: Save/Invest with Student Loans?
Replies: 13
Views: 1410

Re: Save/Invest with Student Loans?

I agree with most everything above. You seem to have everything under control. You are maxing out tax advantaged accounts. Great! (I could not afford to do that when I was paying off my student loans, but I had a new wife, kid on the way, had just bought a house) I'd get your emergency account where...
by dknightd
Thu Nov 08, 2018 5:09 pm
Forum: Investing - Theory, News & General
Topic: Would you still jump if you were ready, then the market dropped 50%??
Replies: 40
Views: 4619

Re: Would you still jump if you were ready, then the market dropped 50%??

I have my date picked. I have not handed in the official letter yet, so I could change my mind. If the market dropped 50% between now and my date, I'd almost certainly retire as planned. I'm currently 25/25/50 stock/binds/cashlike. The cash like funds are to get me to SS (I probably use some to buy ...
by dknightd
Wed Nov 07, 2018 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: 1/3 of Baby Boomers have no retirement savings...
Replies: 77
Views: 8115

Re: 1/3 of Baby Boomers have no retirement savings...

1/3 of baby boomers probably do not need to save for retirement
by dknightd
Wed Nov 07, 2018 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: If expenses are low, are some of us over saving?
Replies: 120
Views: 11696

Re: If expenses are low, are some of us over saving?

The thread on Baby Boomer savings brought this to mind. For a higher earning couple, assuming they’re debt free and have a paid off home at retirement, why not aim to have expenses be at/below the expected Social Security benefit? Assuming that’s ~$3k to cover property taxes, healthcare, food, tran...
by dknightd
Wed Nov 07, 2018 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: How high can House prices go
Replies: 43
Views: 5176

Re: How high can House prices go

Thanks y’all for helpful thoughts. DH and I are brainstorming heavily on what we should do. We feel like we have these options: 1. Go ahead and close the $545k house that we paid $30k so far 2. Back out of $545k house and sign up for $320k brand new townhome. The townhome is in the almost the same ...
by dknightd
Tue Nov 06, 2018 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Are we in trouble?
Replies: 106
Views: 12694

Re: Are we in trouble?

bloom2708 wrote:
Tue Nov 06, 2018 8:07 pm

Exactly my thoughts. If it was me, I would poke at both ends. :o
Is that like burning the candle at both ends ? ;)
by dknightd
Tue Nov 06, 2018 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching kids there is an ample amount of money
Replies: 108
Views: 7962

Re: Teaching kids there is an ample amount of money

When I was a kid there was always food available. And a house, and cloths to wear. To me that meant there was an ample amount of money. I've tried to teach my kids the same lessons I learned.
by dknightd
Tue Nov 06, 2018 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 14574

Re: How much money are you leaving your kids after you die?

I'll be happy if they do not have to give money back to us.
Likely they will have a paid off house to sell. And our emergency fund.
I guess time will tell ;)
by dknightd
Tue Nov 06, 2018 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Are we in trouble?
Replies: 106
Views: 12694

Re: Are we in trouble?

bloom2708 wrote:
Tue Nov 06, 2018 7:54 pm
I guess you can try to change one or both challenge points. Selling the old house and/or escaping the new mcmansion.
Honestly, I'd suggest both! But it is not my money
by dknightd
Tue Nov 06, 2018 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Are we in trouble?
Replies: 106
Views: 12694

Re: Are we in trouble?

I don't think you are in trouble - yet. But you might be close. Having two custom built houses could be a problem if what you like does not match what others like. Carrying both mortgages could be difficult, and, if your household income went down it could be impossible. As long as you can afford yo...
by dknightd
Mon Nov 05, 2018 7:17 pm
Forum: Personal Consumer Issues
Topic: Neighbor wants to buy house out of blue but wants us to come up with offer
Replies: 31
Views: 5285

Re: Neighbor wants to buy house out of blue but wants us to come up with offer

Offer to sell it to them for twice, or more, of market value. Tell them it might be available cheaper in a couple of years, after you decide you really want to move.
edit: I'd probably start at 4 times what is was worth to you. And let them try negotiate down from there.
by dknightd
Mon Nov 05, 2018 7:07 pm
Forum: Investing - Theory, News & General
Topic: Anyone ever “borrow” against their emergency fund?
Replies: 23
Views: 2484

Re: Anyone ever “borrow” against their emergency fund?

I’ve done this a few times and regretted it every time. I know the odds are that market goes up, but in every case the market was at least marginally lower when I actually received the money. The regret in this case turned out to be greater than the joy of the market being up, if it had been. I’ve ...
by dknightd
Mon Nov 05, 2018 7:06 pm
Forum: Investing - Theory, News & General
Topic: Anyone ever “borrow” against their emergency fund?
Replies: 23
Views: 2484

Re: Anyone ever “borrow” against their emergency fund?

My "emergency" fund is also my "slush" fund. I'd use it as you suggest if that is what you want to do. If I did it I would not consider it borrowing. I'd consider if money sloshing around
by dknightd
Mon Nov 05, 2018 6:40 pm
Forum: Investing - Help with Personal Investments
Topic: 80 year old wants to invest $100k to get ~$10k annually. Options?
Replies: 22
Views: 3862

Re: 80 year old wants to invest $100k to get ~$10k annually. Options?

$880 x 12 is 10560. There would be nothing remaining. But she could live forever. Might be a good option.
by dknightd
Mon Nov 05, 2018 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: Evaluating Fed employment vs. contracting
Replies: 12
Views: 740

Re: Evaluating Fed employment vs. contracting

Again, what would make it worth financially to do the jump? I guess you'll have to apply, get an offer, then decide if the salary and perks make sense for you. Sometimes contractors are treated better than employees, sometimes the other way around. I know people who have put in 30 years with the fe...
by dknightd
Mon Nov 05, 2018 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: Lock mortgage rate at 5%?
Replies: 34
Views: 3710

Re: Lock mortgage rate at 5%?

I'd lock in just so there were no surprises at closing.