Search found 76 matches

by PQ12$
Fri Apr 03, 2020 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Interesting Offer from Private Pre-School During Shutdown
Replies: 7
Views: 1250

Re: Interesting Offer from Private Pre-School During Shutdown

The "50% is banked to be used later to pay your kids tuition" is straight up illegal. Anybody who runs a 501C3 would know that, which makes me question the owner. They may be doing this for legit reasons -- trying to keep the school open (not everybody is a bad person) but you may want to reach out ...
by PQ12$
Thu Feb 06, 2020 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Should We Buy A House
Replies: 17
Views: 1822

Re: Should We Buy A House

Congrats on exposing your thinking to the Boglehead universe. Be prepared for some cold winds as some can be a little curt, but you will get a few nuggets (guaranteed) that help you. It sounds like you can afford it, but aren't sure you want it. Or maybe you are just doing the financial calc part be...
by PQ12$
Mon Jan 20, 2020 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Newly married! combining investing philosophies
Replies: 24
Views: 2536

Re: Newly married! combining investing philosophies

I agree with corpmd - give it time. The reason many people go/stay with an advisor is they fear what they don't know and it makes them "feel" safer. It is not a bad strategy and often the primary role of the advisor is to not let them do something stupid in the heat of the moment. That can be a valu...
by PQ12$
Fri Jan 17, 2020 12:57 pm
Forum: Personal Investments
Topic: Early Retirement/Efficient Account Use
Replies: 40
Views: 3201

Re: Early Retirement/Efficient Account Use

Hi Colleen -- what great questions you ask, and answers you are getting here! This is as good as this site gets. I am sort of stuck on the question "should" he retire vs. can he. A lot we don't know of course but he could be in a very different place in 6 months after de-toxing from his previous gig...
by PQ12$
Wed Nov 06, 2019 5:46 pm
Forum: Investing - Theory, News & General
Topic: Do you invest in Real Estate ? Why ?
Replies: 145
Views: 21884

Re: Do you invest in Real Estate ? Why ?

Yes we do. We own our primary home outright, and have a second home that we rent to my son/his wife at a below market rate. They are fixing it up and after 5 years we will sell and split any profits we make on the house as that is my age 60-65 money. At my age (57) I think this decision is really ab...
by PQ12$
Wed Sep 25, 2019 5:33 am
Forum: Investing - Theory, News & General
Topic: Success without 401k or Stocks?
Replies: 51
Views: 4106

Re: Success without 401k or Stocks?

Hi OP - Based on the comments about your surroundings/family, it sounds like you have pulled yourself up and out of a difficult environment. My bet is this has taken incredible persistence, focus and hard work. And it will continue to because nothing is given to you, you have to take it/make it. You...
by PQ12$
Sun Jul 07, 2019 7:37 am
Forum: Personal Finance (Not Investing)
Topic: 50-60k boat purchase??
Replies: 84
Views: 6575

Re: 50-60k boat purchase??

Hi OP - In my experience there are a lot of people who will never understand/agree on the purchase of a boat regardless of circumstances. Boating is a passion, luxury etc. that doesn't make sense unless you have that passion and the money to do it. I've had 3 boats and currently own a $250K Regulato...
by PQ12$
Mon Jun 17, 2019 7:49 am
Forum: Personal Investments
Topic: Advice for young married couples: PLEASE HELP!
Replies: 49
Views: 4499

Advice for young married couples: PLEASE HELP!

Hi - We live in a HCOL city in the Northeast, where my wife and I sit each month with 50-60 young engaged couples preparing for marriage. The average age is 31 and they come from all walks of life, education, ethnicity, etc. One of the talks we do is a "finance talk" in which we try to share tips an...
by PQ12$
Wed Jun 05, 2019 6:47 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at 56?
Replies: 34
Views: 6339

Re: Can I retire at 56?

Amen to the comment about "it can take awhile" for the kids to launch. I left a similar position 5 years ago at 52 financially and otherwise. As others have said you could leave tomorrow and make retirement work financially. But I will promise you this -- when you walk out the door after a 30 year c...
by PQ12$
Fri May 31, 2019 3:01 pm
Forum: Personal Investments
Topic: What percent of your assets do you have in investment property (excluding your personal residence)?
Replies: 73
Views: 3803

Re: What percent of your assets do you have in investment property (excluding your personal residence)?

53% equities 23% bonds 7% cash 20% RE investment property The 20% is a house we bought from my mother in law that our son is currently renovating/living in with his wife/baby for reduced rent. I made a deal where he does the work as he can, gets below market rent and will share in profit when we sel...
by PQ12$
Thu May 30, 2019 6:06 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 273
Views: 29406

Re: Can I afford this 2.3 million dollar home?

LOL some of these posts -- the great thing about this board is you expose your thinking to a few thousand smart, crusty relatives who give you their unvarnished truth. It is the only place I get this range of opinions to challenge my own thinking. One thing to consider is how you want to live, and w...
by PQ12$
Wed May 29, 2019 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 273
Views: 29406

Re: Can I afford this 2.3 million dollar home?

OP: Sounds like you can afford it. Sounds like you want it. The question you should be asking is, is it a good investment? That's a very different question that you are no doubt smart enough to answer, particularly if you listen to some people you trust who have some distance from the emotion of thi...
by PQ12$
Mon May 27, 2019 7:01 am
Forum: US Chapters
Topic: Retiredjg at 36,000 posts!
Replies: 34
Views: 3156

Re: Retiredjg at 36,000 posts!

About a year ago I posted my inaugural entry, asking for deliverance from a complicated 1.25% AUM advisor built portfolio. You don't really know whose advice to take from the forum, because you don't REALLY know who anybody is or what they really know. I just sensed retiredJG knew, and took her advi...
by PQ12$
Tue May 07, 2019 7:41 am
Forum: Personal Investments
Topic: I tried to fire my financial advisor of 12 years today...
Replies: 127
Views: 14899

Re: I tried to fire my financial advisor of 12 years today...

OP -- If you do decide to transfer your assets to Vanguard, or anybody, be sure you get all of the cost basis info for all of your holdings BEFORE you transfer. Take screen shots from your current brokerage account, get print outs, etc. as occasionally this can be tough to get once you've moved your...
by PQ12$
Tue May 07, 2019 4:40 am
Forum: Personal Investments
Topic: I tried to fire my financial advisor of 12 years today...
Replies: 127
Views: 14899

Re: I tried to fire my financial advisor of 12 years today...

Based on a quick read of your post it sounds like you had the conversation before you were really ready (emotionally and intellectually) to move. I fired my guy a year ago after 10 years and it was also hard -- the hardest part of the whole thing. The rest was pretty easy but took me 3 years of read...
by PQ12$
Thu Apr 25, 2019 1:16 pm
Forum: Personal Investments
Topic: Taxable and Tax-deferred/free as separate Asset Allocations for young family?
Replies: 29
Views: 1512

Re: Taxable and Tax-deferred/free as separate Asset Allocations for young family?

Second, realize every dollar in your 401k is worth 75¢ every dollar in your taxable is worth 85¢ and every dollar in your Roth is worth 1$

This is approximate math but true wisdom!
by PQ12$
Thu Apr 25, 2019 1:07 pm
Forum: Personal Investments
Topic: Personal Investments - Allocations and Next Steps
Replies: 10
Views: 710

Re: Personal Investments - Allocations and Next Steps

Hi OP: Huge first step in just writing this post, organizing/laying out your current position, concerns, and financial objectives. That is a big frigging deal and a huge step in getting where you want to go. It is amazing and depressing how few people do what you have just done. Everything you need ...
by PQ12$
Mon Apr 15, 2019 10:40 am
Forum: Personal Investments
Topic: My advisor VS Vanguard's PAS
Replies: 70
Views: 5803

Re: My advisor VS Vanguard's PAS

[/quote] Curious, when you looked at PAS and they were recommending a version of the 3-4 index fund portfolio, were they recommending you sell all of your current funds? Or keep a portion of them? In the end, you did it yourself but it was time consuming and stressful to get right. That is exactly w...
by PQ12$
Sun Apr 14, 2019 8:20 pm
Forum: Personal Investments
Topic: My advisor VS Vanguard's PAS
Replies: 70
Views: 5803

Re: My advisor VS Vanguard's PAS

Hi - I recently moved all of our money from a 1% aum advisor who had me in .80% (average) expense funds so mine was an easy decision. I looked at PAS but they seem to always recommend some version of the 3-4 index fund so it didn't seem like I really needed them for much beyond helping with the tax ...
by PQ12$
Tue Apr 09, 2019 7:28 am
Forum: Personal Finance (Not Investing)
Topic: can I afford second home purchase with retirement funds
Replies: 19
Views: 2519

Re: can I afford second home purchase with retirement funds

Hi Rockman - As you probably know this is a tough board to ask your question. At 72, with your nest egg, some things you do just because you want to. This can't ruin you (for sure) and is unlikely to cause you much pain other than that which comes with owning 2 houses, which is bearable until it isn...
by PQ12$
Thu Mar 21, 2019 7:37 pm
Forum: Personal Investments
Topic: Switch Advisor account to self-managed Vanguard or Schwab?
Replies: 12
Views: 1587

Re: Switch Advisor account to self-managed Vanguard or Schwab?

Hi OP -- sounds like you are really smart and covering all the bases. I am glad your parents have you to help. A couple of thoughts, just to build on what's been said. I just transferred my entire taxable account from my %AUM advisor to Vanguard. It went hitch free, except one of the accounts did no...
by PQ12$
Tue Mar 19, 2019 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Should we purchase $700k home?
Replies: 101
Views: 7586

Re: Should we purchase $700k home?

Always a pleasure to see somebody else who thinks spending $300K +- on a boat is a good idea -- there aren't enough of us! At 57, I think it is my generation that started the whole "McMansion" thing -- building these large 4000 sq ft monstrosities for our 2.3 children and their/our associated toys. ...
by PQ12$
Mon Mar 18, 2019 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: How do you know if you are on track financially?
Replies: 19
Views: 2729

Re: How do you know if you are on track financially?

+1 -- and better said!

I like your idea of "don't compare yourself with others, compare yourself with your goals"

Step #1 is set a definitive financial goal first, then back into the monthly saving required to get there.

Seems simple, and it is, but few do it.
by PQ12$
Mon Mar 18, 2019 10:20 am
Forum: Personal Finance (Not Investing)
Topic: How do you know if you are on track financially?
Replies: 19
Views: 2729

Re: How do you know if you are on track financially?

You pose a good question, and one way is to imagine you are in your 50's (as I am) when it becomes easier. This is rough but: Based on your current lifestyle, come up with a yearly run rate -- the $ amount you spend every year, all in. Say that number is $100K. Multiply that by the 30 years you will...
by PQ12$
Sat Mar 16, 2019 5:57 am
Forum: Personal Finance (Not Investing)
Topic: Another Can I Retire Question
Replies: 27
Views: 2924

Re: Another Can I Retire Question

Hi OP - you are clearly in a good time/place for this move. Just don't call it retirement. You are obviously a go-getter who has been running hard for a long time. You need time to decompress and get the toxins out. I was in a similar place (at 52) and took a 1 year sabbatical from work, and now run...
by PQ12$
Mon Mar 11, 2019 2:16 pm
Forum: Personal Consumer Issues
Topic: Retirement question about grandchildren
Replies: 28
Views: 3795

Re: Retirement question about grandchildren

Love all of these posts. Sounds like investing in the grandkids when they are young (with time, patience, love) pays dividends for a lifetime. Requires active investing, checking "portfolio" often and never quitting regardless of return or lack thereof.

I can sign up for that. :happy
by PQ12$
Fri Mar 08, 2019 4:48 pm
Forum: Personal Consumer Issues
Topic: Retirement question about grandchildren
Replies: 28
Views: 3795

Re: Retirement question about grandchildren

Thanks everyone for all of this wisdom. So many different points of view and life experiences on this site -- giving me a lot to think about.
by PQ12$
Thu Mar 07, 2019 5:36 pm
Forum: Personal Consumer Issues
Topic: Any liveaboards here?
Replies: 47
Views: 6123

Re: Any liveaboards here?

I helped a friend take a 50 ft. powerboat from Boston down to Florida a few years ago (I'm 57). I was struck by all the people I saw on that trip in their 60's and 70's -- several of them guys alone or with a buddy. (if alone they weren't sailing!) Anyway, what struck me is how many people wait unti...
by PQ12$
Wed Mar 06, 2019 3:56 pm
Forum: Personal Consumer Issues
Topic: Retirement question about grandchildren
Replies: 28
Views: 3795

Retirement question about grandchildren

My wife and I are 57 with 3 grandkids - ages 3 months, 2 and 3.5 Daughter lives 30 mins away and son lives 50 minutes so we are a big part of these kids lives. Bi-weekly family dinners, babysit when avail, drop by to say hello, etc. It is wonderful and the best thing in our lives, and I think one of...
by PQ12$
Tue Feb 19, 2019 10:31 pm
Forum: US Chapters
Topic: How many bogleheads do you know in real life?
Replies: 130
Views: 11014

Re: How many bogleheads do you know in real life?

darkhorse346 wrote:
Tue Feb 19, 2019 7:44 pm
All kidding aside, no, I don't know any. When I talk about indexing and low cost at work or maybe in social situations, people's' eyes glaze over.
LOL - it i funny how this stuff generates so much enthusiasm and passion in us, whilst it is a snore to everybody else
by PQ12$
Tue Feb 19, 2019 5:51 pm
Forum: US Chapters
Topic: How many bogleheads do you know in real life?
Replies: 130
Views: 11014

Re: How many bogleheads do you know in real life?

I love this question you pose -- thanks for posting it. I think a few people have mis-interpreted it as being "do you like to talk about money" with others. I interpreted it as - "do you like to talk about having a plan for a successful, predictable, low-stress-as-it-comes-to-money retirement." Rece...
by PQ12$
Tue Feb 19, 2019 8:25 am
Forum: Personal Consumer Issues
Topic: CCRCs - problems with the transition process to higher care levels?
Replies: 39
Views: 2862

Re: CCRCs - problems with the transition process to higher care levels?

CCRCs remind me of the pros and cons of buying a life annuity. You have the promise of securing things in advance, but at the cost of being locked into an irrevocable decision once you've made it. The alternative to a CCRC would be to try to handle things ala carte. You start at the independent liv...
by PQ12$
Mon Feb 11, 2019 9:22 am
Forum: Personal Finance (Not Investing)
Topic: "Living comfortably in retirement"
Replies: 71
Views: 9795

Re: "Living comfortably in retirement"

Living comfortably in retirement is not my goal. My goal encompasses the entirety of what retirement can mean in terms of the potential for my life. So I have intentionally made my "Wildly Important Idea" (per Cal Newport) to make retirement the most financially, materially, emotionally, and psycho...
by PQ12$
Sun Feb 03, 2019 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Concerned about Alzheimers, how do you plan for LTC?
Replies: 80
Views: 6016

Re: Concerned about Alzheimers, how do you plan for LTC?

Original poster here - wow, this conversation has gone much deeper than I thought it would and I really appreciate the different points of view and experiences being represented. It is very helpful - thank you
by PQ12$
Fri Feb 01, 2019 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Concerned about Alzheimers, how do you plan for LTC?
Replies: 80
Views: 6016

Re: Concerned about Alzheimers, how do you plan for LTC?

Thanks for this. I like the idea of putting a CCRC in the “potential options” bucket while we noodle this.
by PQ12$
Fri Feb 01, 2019 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Concerned about Alzheimers, how do you plan for LTC?
Replies: 80
Views: 6016

Re: Concerned about Alzheimers, how do you plan for LTC?

I've looked into LTC insurance, but it seems that long term to insurance companies is 3-5 years, not the 20+ years that may be needed for Alzheimers. Some older plans were good for the 20+ years until insurance companies figured out they were losing money on the policies. I'd be interested to hear ...
by PQ12$
Fri Feb 01, 2019 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Concerned about Alzheimers, how do you plan for LTC?
Replies: 80
Views: 6016

Re: Concerned about Alzheimers, how do you plan for LTC?

[/quote] At a 4% safe withdrawal ware that implies an income of $96K from your savings, $36K from your Social Security, and around $18K from your wife's spousal Social Security. Combined that is $150K a year in retirement income. If only one of you is surviving that would still be $132K. In a pinch ...
by PQ12$
Fri Feb 01, 2019 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Concerned about Alzheimers, how do you plan for LTC?
Replies: 80
Views: 6016

Concerned about Alzheimers, how do you plan for LTC?

We worry my wife may suffer from alzheimers later in life - she is 52 and fine fyi, but there is family history. This creates alot of anxiety in terms of planning given the financial ramifications. How might you factor this into your planning and what steps would you take to finance care should it b...
by PQ12$
Thu Jan 31, 2019 10:24 pm
Forum: Personal Investments
Topic: Non-cyber financial security preparation in case of...
Replies: 15
Views: 1278

Re: Non-cyber financial security preparation in case of...

I recommend devoting some serious study to the nature of risk. Research shows humans are extremely poor at assessing risk of all kinds. For example, right now, while you are thinking about this disaster scenario, how much do you know about your physical health markers? Can you quote the numbers, or...
by PQ12$
Thu Jan 31, 2019 5:28 pm
Forum: Personal Investments
Topic: Lawyer looking for retirement strategy, etc. advice
Replies: 15
Views: 1713

Re: Lawyer looking for retirement strategy, etc. advice

Yet another fellow lawyer here: I retired from private practice last year at 62. Here are some observations. I am financially conservative by nature, so please consider that when reviewing: Disability/Life Insurance : As sole breadwinner, you should have adequate disability and life insurance. My S...
by PQ12$
Thu Jan 31, 2019 5:25 pm
Forum: Personal Investments
Topic: Lawyer looking for retirement strategy, etc. advice
Replies: 15
Views: 1713

Re: Lawyer looking for retirement strategy, etc. advice

For your brother: Fellow lawyer here. As you’re well aware, life is unpredictable. I don’t know what your stress level is at work, or whether you’re a litigator or a transactional attorney. I’ve never seen a long-time litigator look like a model of health. You might fall over tomorrow of a heart at...
by PQ12$
Thu Jan 31, 2019 9:19 am
Forum: Personal Investments
Topic: Lawyer looking for retirement strategy, etc. advice
Replies: 15
Views: 1713

Re: Lawyer looking for retirement strategy, etc. advice

It would probably be a good exercise for your brother to estimate annual expenses in retirement and compare that to a 4% withdrawal rate on his portfolio. For example, no college expenses and a paid off vacation home (since at minimum the office space would be sold & could pay it off). Is the plan ...
by PQ12$
Thu Jan 31, 2019 8:14 am
Forum: Personal Investments
Topic: Lawyer looking for retirement strategy, etc. advice
Replies: 15
Views: 1713

Re: Lawyer looking for retirement strategy, etc. advice

With college expenses and possible wedding expenses and possible expenses for parents/parents-in-laws, I'd consider building a spreadsheet with annul income, expenses, gain/loss for the year and year end balance. This will allow you to project things you think will happen and give you an idea if yo...
by PQ12$
Thu Jan 31, 2019 7:11 am
Forum: Personal Investments
Topic: Lawyer looking for retirement strategy, etc. advice
Replies: 15
Views: 1713

Re: Lawyer looking for retirement strategy, etc. advice

If you are comfortable with a 70/30, then that’s perfectly acceptable. I would simplify the portfolio into one domestic equity index fund, one international index fund, one domestic bond index fund (which you already have), and keep the individual securities below 5% of the portfolio. Your cash is ...
by PQ12$
Thu Jan 31, 2019 7:01 am
Forum: Personal Investments
Topic: Lawyer looking for retirement strategy, etc. advice
Replies: 15
Views: 1713

Re: Lawyer looking for retirement strategy, etc. advice

Thank you - the budgeting for different scenarios idea is a good one. And re: the kids we've had a run of college, etc. expenses that have been painful and continue for a few more years.
by PQ12$
Wed Jan 30, 2019 10:09 pm
Forum: Personal Investments
Topic: Lawyer looking for retirement strategy, etc. advice
Replies: 15
Views: 1713

Lawyer looking for retirement strategy, etc. advice

Posting for my brother who needs some good advice from this group: ----- Hi: I am a 52 year-old attorney hoping to get some strategic advice as I think about retirement. I’ve been a self-directed investor for many years with Schwab and have done okay - without putting alot of time and energy into th...
by PQ12$
Wed Jan 30, 2019 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Career Decision - Asking for help.
Replies: 30
Views: 3068

Re: Career Decision - Asking for help.

OP: This response is coming from someone who got his MBA partially because of being bored in a dead end job: It seems like you are a high-value employee who is trusted by the owner. Perhaps this is a good time to share your concerns regarding lack of growth opportunities, lack of equity position, a...
by PQ12$
Wed Jan 30, 2019 5:13 pm
Forum: Personal Investments
Topic: Non-cyber financial security preparation in case of...
Replies: 15
Views: 1278

Re: Non-cyber financial security preparation in case of...

It is interesting to me that we don't plan for this "armageddon" when it is probably alot more likely than a nuclear event. I'm not a bunker mentality person, but there's gotta be "something" one can do. Maybe it's as simple as keeping $X cash on hand in case the lights/computers go out for an exten...
by PQ12$
Wed Jan 30, 2019 5:32 am
Forum: Personal Investments
Topic: Non-cyber financial security preparation in case of...
Replies: 15
Views: 1278

Non-cyber financial security preparation in case of...

Curious what the B-community does to protect themselves from cyber security threats in a full on disaster situation - whereby a state or non-state actor really messes up the whole cyber financial system we depend on for 3 months or so. Specifically - NOT interested in discussing credit freezes, 2-pa...
by PQ12$
Tue Jan 08, 2019 6:05 pm
Forum: Personal Investments
Topic: Life transition, what's next
Replies: 25
Views: 3369

Re: Life transition, what's next

Congrats on having $700K saved! That puts you well ahead of a large swath of the general population. As the other poster said -- give this group detailed financial information and you will get the best advice: assets liabilities monthly expenses, income current/projected social security investments ...