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We are in a similar though not quite as outsized position with AAPL. My husband bought it eons ago (at $5/share) inside his tax-deferred account, so it's all ordinary income and doesn't require as much brain power devoted to tax planning as your position. It's still a concentration concern. It is about 30% of his tax-deferred account and around 12% of our total combined portfolio, excluding housing. I strongly encouraged him to sell a third of the position 4 years ago, which he did. Now that his Alzheimer's is advancing, I'm making all our portfolio decisions. I have walked up to the door of another AAPL sale a few times but have backed away. There is plenty of other stuff to sell for monthly income. All this to say, I validate the emotions...

In Rome, Renato e Luisa is my favourite restaurant. They make everything themselves, including the bread. Order from the daily special board, and if you can bring yourself to it, ordering the set daily menu will be an incredible and wonderful variety of tastes (but you will be very full.) They are not open for lunch, only dinner, and in Italy, you should always make reservations - it’s considered polite to help the chef plan how much to prepare.

It’s been too long since I was in Florence, but it looks like you have some good recommendations.

For hotels (not apartments), this is my favourite place in Rome: https://navonaqueenrome.com . Their availability is already very limited for the end of April, but it's worth checking for your dates. The owners are soooo nice, breakfasts are a combination of pre-ordered hot meals + an ample cold buffet and they have a killer rooftop patio with views over St. Peter's and most of Rome. It's a five-minute walk to Piazza Navona and Castel Sant'Angelo, 10-15 minutes to Vatican City, so dead center to the historic sights. It's not super cheap but good value for the amenities and location. I usually stay in apartments when I go now. Testaccio or Aventine Hill are my favourite locations for those. A little farther from the core sights but very nice...

I’d be interested in hearing how US citizen expats have handled finances, I.e. bank account for expenses in new home country, investment, retirement accounts, etc left in US institutions. @SpaghettiLegs, this current thread https://www.bogleheads.org/forum/viewtopic.php?f=2&t=398826&newpost=7145838&view=unread#unread has some good information, as do a number of older threads and the wiki. For any specifics, it might be best to start a new thread. My experience has been that it has taken a lot of phone calls, emails and snail mail to get things set up the way I want them, but I do have banking and brokerage accounts in U.S., Canada and Europe at this point. I am no longer a U.S. citizen, and I have had to certify that to get Eur...

This: your question is too broad to get more than surface responses here. Broad categories you will need to research include specific country, visa options, tax situation on your investments, language, document recognition and conversion, driver's license recognition and conversion, health care, how comfortable you are in a culture, on and on and on. Tires me out just thinking about the categories. And bringing a family? Complications possibly multiplied by x! There is no one-page cheat sheet for becoming an expat. I've done it twice so far, and the list above just scratches the surface of things you need to consider. Most importantly, if you have U.S. citizenship, the complexity increases exponentially. If you want to work, not retire, com...

I was an expat in Canada for 30 years, now living in Italy but no longer an expat, I'm a non-resident alien. Here are a few things I learned that might address your questions: Brokerage : one required me to close accounts (can't remember name now). Vanguard allowed me to keep the account but not trade. Ever. I was allowed to pick one mutual fund and leave all money in it. I could withdraw but not add to it or change securities. It worked out well over 30 years from a Bogleheads perspective (no peeking, no touching) but it is a limitation to be aware of Possessions : I moved everything I owned, including my car, from U.S. to Canada, but I was young and didn't have much. Moving to Italy, we sold the cars, decluttered like crazy for 18 months,...

including the execrable form 8854 for the US's soviet-style exit tax, and from then on never file another US tax return, but instead breath the sweet, sweet fresh air of freedom from the IRS. Oh yes. Best words I’ve read here! I’ve been through the expatriation nightmare myself recently, after 30 years as an expat filing all their awful forms. Each April I breathe that sweet air of freedom. And I have every intention of collecting Social Security for my precisely 40 quarters of US work when the time comes. I’m in Italy, so it should arrive withholding-free (but Italy will get their bite.) My only addition to this thread, now that the information has been straightened out, is to read and carefully follow all the non-resident / expatriation ...

This caught my eye, as this morning I received an email from IBKR inviting me to enroll in their lending program. I scanned the email, but have not looked into it any further. At the bottom of the email, it read “Stock lending involves risks. Information on SYEP and the risks associated with the program is available on our website.”

For what seems from your report to be quite small returns, I would want correspondingly small risks. Do you have any thoughts on what those risks might be, and how severe they might be? I’ll go read the website, but just looking for a less lawyered-up point of view.

I am one of those expats who moved here after retirement and bought a house in a small but very cute village. 70 years ago, it had a population of 10,000, now it's down to under 2000. There is one main real estate broker here who is trying to sell off everyone's inherited homes. It's a slog, and yes, the ones that do sell are sold to expats. But it can take years to sell any given property. Meanwhile, the heirs (theoretically) keep paying the property tax on second homes. So this definitely colours my opinions on what you should do with your inherited properties. In your situation, I would sell the properties that won't be owner-occupied and sort out with your brothers who will buy each other out for any property one of you does want to liv...

It's not about the tax rate, it's about not dealing with the IRS. I spent 30 years as an expat filing intrusive forms for them before renouncing and I was just happy there are no forms to file.

And no, I am currently under the 7% flat tax regime for newcomers to southern Italy, so the rate is lower but with no offsets

(not meant to be political...just a sigh of relief)

I tried to open a Directa account. I am an Italian domicile but not resident yet, so I don’t have an Italian identity card —> it didn’t work. You won’t have that problem though One other comment to add - slightly off-topic to my original post but maybe a heads-up for someone in the same situation. I am Italian resident, with Canadian citizenship. I renounced my U.S. citizenship in 2019. None of the online banks will allow me to open an account because they apparently look at my place of birth and refuse my selection of the "not a U.S. person" box. That was the problem I encountered with ING and also with Fineco and one other, I forget. Rejection of US persons due to not wanting to deal with FATCA rules is ubiquitous at financial ...

nothing very exciting. I bought some secondary-market T-bills with most of the USD cash, bought a high-interest savings ETF in Canada with the CAD cash, and added to one of my short-term EUR bond ETFs. I didn't quite wrap my head around buying EUR denominated bonds directly, so I stuck with ERNE, ISHARES EURO ULTRASHORT BOND ETF I already owned. I need to do another round of both T-bill purchases and EUR ETF purchases. The interesting part was digging around Bogleheads to learn more about buying T-bills. There is a LOT of really great information on here. The best part was learning that interest on Treasury instruments will not be subject to U.S. taxes since I'm now a non-resident alien. Thanks to all for your help and to Tellurius for your...

I am the opposite of tall, but a friend who is (in his words) 5’ 17.5” is on his third VW and finds them comfortable for entry/exit and seated headroom. Before that, he had a Smart car. It was very funny watching someone his size exit from that car, but once seated, he had oodles of headspace. So you never know till you try on a car, as suggested above. Good luck!

I have some of this but I can't say I bought it for an overly strategic or well thought out reason. I just needed a place to park cash for a while as I wait for a planned home renovation to actually start. I bought some of that, some iShares Euro Govt Bond 1-3 years, and some Individual US T-bills. So for me, it serves the short-term liquidity need, not sure if I will continue to hold some of it longer-term.

You have absolutely made the right financial decision. How does it feel emotionally? My experience was that it felt absolutely fantastic to be mortgage-free. We paid off our first house in 9 years, devoting every year’s bonus to an annual prepayment. The second one was paid off in 18 months, due to not overextending ourselves in the first place, and then using a small inheritance to pay off the remaining $100K. The third house was paid in cash. Being mortgage-free for two-thirds of our marriage (so far) has given us lots of flexibility to handle hard times and child rearing, and enter retirement with a healthy stash.

My point here is take some time to enjoy the heck out of your upcoming freedom. It is a great lighter-than-air feeling.

A question for the experts on this area. We will be coming from the east toward Glacier NP, and want to cross the border near Babb, MT. My question is should we stay on the east side of the mountains going north toward Banff, or should be cross the mountains at Crowsnest, then go north through the Kootenay River valley on the west side of the mountains? Which is more scenic? The west side is considerably more scenic (and less windy - there are many wind turbines on the east for a reason.) But the road is winding and narrow, not divided most of the way, and in the summer, it is bumper to bumper RVs. So I guess it depends on your patience level and amount of time you have to pull over and take a short hike instead of getting too frustrated b...

This was also my backyard for 30 years. Now living in Italy, reading all these posts did make me a bit homesick :happy I have a soft spot for Canmore as my parents had a great house there for 20 years and we spent most weekends there. It is more "authentic"* and slightly less expensive than Banff, which is only 17 km on down the highway. It has some really great restaurants and quite a lot of lodging. There are lots of hiking trails, and the Canmore Nordic Centre allows mountain biking on its ski trails in the summer. There is also a pretty decent commuter bus between Canmore and Banff so you can skip the parking nightmares. However, you will be headed into the park fairly often to see some of the most famous trails and sights. (I...

jg12345 wrote: ↑Fri Nov 18, 2022 6:45 am oh interesting!

One point I forgot and you might have realized: the option of buying an Italian government (or any eurozone) bond (zero coupon or with interest) with maturity at March 2023 would also involve less transaction costs vs. a CD, as you have just experienced. No need to open a bank account, a CD, etc. etc. it's as easy as buying an ETF

Yes, I’m looking into this more as well, following some of the ideas above. It’s a new transaction type for me, but I’ll figure out how to do it. Thanks.

All of your planning, and of course your asset level, look very solid and well thought out. What I don’t see is mention of a written plan for handoff to the remaining partner and/or the heirs and trustees. How will the next person know how all these Lego bricks fit together and what to do with each trust, account, asset? Do you have a list of all the accounts, locations, access credentials? Do you have a one-pager about the intent for all these pieces and how to keep them intact or when / how to change them out? And maybe a different page from the POV of each remaining partner / heirs for changes that would differ based on who goes first (e.g., changing the manager for your spouse’s Roth if he is the one who is gone) All this stuff is off-p...

UPDATE

ING bank (at least the Italy subsidiary) has been a spectacular flop. I tried to open an account online. They sent a confirmation email saying to sign the attached contracts and return by snail mail. Only there were no files attached. Three phone calls and a web request for the attachments have failed to get them to cough up the required documents. So I guess they don’t want any new business.

Off to try another bank…

Is it possible that the cash is in a different currency than your base currency? I set my base currency to Euros, but I have cash in both EUR and USD. The view on the cash report is in EUR, so the amount shown fluctuates as the exchange rate changes.

That’s the only idea that comes to mind…if that’s not it, I don’t know.

A somewhat cursory look at bank options today led me past FCA and to ING. They are paying reasonable rates on savings (1%) and CDs (2.5% for 12 months, which is a little longer than I want to lock in but it did catch my eye.) I've used ING (which became Tangerine) in Canada and was pretty satisfied. And yes, it is not an Italian bank. I share the concerns about that. This is easier for me than trying to match bond durations to this renovation with an unknown start, duration and cost...but does make me feel better to at least earn a bit of interest while waiting for my general contractor to get things moving. Edit: @DJN: yes, that is an excellent article and I've read it a number of times to make sure I understood my options generally. I hav...

Thank you all, I will research all of these options. I have avoided dealing with Italian banks so far just due to the paperwork burden but I’ll have a closer look

I am sitting on an increasing stash of uninvested cash, waiting for a house renovation project to start. I have about $100K now, and I've been adding about $10K+ to the stash monthly.The timing for the project start is uncertain; after six months of waiting, I just received approval from the town and national park for the project and my contractor doesn't think we can start much of the work until spring. I also don't have estimates yet for the work. Some of it will be covered by Italian renovation bonuses. So, I have a lot of money earning nothing, for an undefined amount need and undefined time need. Let's assume a March 2023 project start date. Is there anything productive I can do with that money for six months, with very low principal r...

If not now, when? IMO, it would be much better for her to sell the house now. Decluttering/downsizing never gets easier as one gets older, and it sounds like there's some deferred maintenance. However, if she is not crazy about the apartment, can she buy a smaller, newer home with some of the house proceeds and invest the balance? She could have a bit more house, maybe something more suitable for aging in place, and it would give her some reassurance about still owning a good chunk of real estate plus a stash to draw income from. Small steps towards simplified living would help her and you/your siblings. It doesn't have to be all or nothing. I can't help with financial advice on investing house proceeds in Switzerland, but there must be som...

I posted a similar question two years ago, and I’d guess nearly everyone struggles wth this issue. You’re right, is is a head trip. For me, I did a lot of planning upfront, moved my family to a much lower cost of living location, obsessed about tax rates, claiming strategies for government benefits and RMDs for tax-deferred accounts. Then I had to learn to let go of some control. Having gotten my arms around my overall cost of living and the recurring costs associated with my lifestyle choices, I have to trust my plan and just live it without too much oversight. I now check that my total disbursements each month are less than my income each month, reinvest the surplus and don’t look at the details of my spending. This helps me avoid rethink...

I have lived in Italy for two years and have chosen not to buy a car yet. Look at Leasys Car Cloud. You can lease a car of varying sizes/varying prices for a year, a month at a time. It includes road taxes/revisione, insurance, maintenance, and 1500 km included per month. You can turn it in whenever you want. There is a small buy-in for the annual contract, around 250 Euros, and if you turn it in early you don't get any of that back. But it's a pretty good deal. I pay 450/month for a Fiat Tipo Wagon or a 500X or L. Less for a smaller car.

Car Cloud may not be quite as flexible as you need, but It's working well for me. Leasys does have other plans for short or medium term rentals.

I am looking for information on potential issues with inherited IRAs for me, a non-resident alien. No condolences needed, no one has died yet, but my sibling the executor is trying to understand and adjust for any implications for our future inheritance now that I live abroad (Italy.) I did search, didn't find anything useful here or more widely on the internet. More specifically, he is considering suggesting to our parents that they do more Roth conversions. We feel this might not be so beneficial for me, as I think Roth withdrawals may not be tax-free in Italy. They would pay taxes on the conversion, and I would pay taxes on withdrawals. But I can't find confirmation. Also, I expect I will have difficulty creating an inherited IRA in my n...

@idc, sorry I missed this for a few weeks. Here's my two cents on this question Would you mind elaborating/quantifying how onerous is to do all this filling/disclosure? I am a dual citizen (another EU country, not mentioned here), and considering my options for the future. Is it time consuming, complicated, too intrusive, etc? If you were to hire a lawyer to do it for you on a yearly basis, how expensive would it be? And if you were to put in the time yourself, how long would it take to fill in the forms every single year? It is time consuming and complicated and intrusive. And there can be very big $ penalties for getting it wrong. For example, failing to file FATCA/FBAR disclosures can cost $10,000 per year. I am a CPA, though not a tax s...

“Keeping your options open” is an expensive option, assuming that means you do not intend to renounce your U.S. citizenship. You will, as you say, pay the Italian tax and offset the U.S. tax with foreign tax credits, but you will have to file forever (and pay an accountant most likely, as expat tax returns are fiendishly complicated.) You will have to file FBAR/FATCA disclosure forms annually. You will have to incur the high level of Italian taxation. And so on…there is always a new complication as long as you remain a U.S. citizen. I would encourage you to think harder about your desire to retain U.S. citizenship after your move. If you renounce, you are already subject to exit taxes since your net worth exceeds $2M, and as your net worth ...

I redid the calculations again. If I use the statistical mortality tables, I'm told to file now. If I use my own best guesses for mortality ages, I'm told to file at 70. Both with the same pre- and post-WEP PIAs. So I just have to decide if the statistics, which as BigDog indicated, include a large number of ill people, are more or less right than my guesses.

I'm going to delay filing and work on keeping both of us healthy. Where I live now in a small Italian village, they paste obituary notices on public walls. Most of the notices are for people at or over 100, last week a woman died at 106. Hopefully I can follow their example!

thanks JoeRetire for helping to unmuddle my thinking! Lots to chew on, but with much clearer thoughts.

Edit: setting my mortality age to 100 and his to 78 moved the recommended claiming date back to my age 70...OSS is a great tool. Now if I only knew the real dates...

I was thinking "cash maximization" - starting earlier means he will get more money now, and he is unlikely to burn through his retirement savings accounts so there will be plenty left for me. (Ugh, I dislike saying things like this out loud.) And I could annuitize a good chunk of that later. Also, because the PIA is so small given I only worked in the US for 10 lower-paying years, it just isn't going to move the needle much for me, so I might as well scoop the cash while I can. That's what I was thinking. Even with a very accelerated mortality date for him (age 76), the Piper calculator still thought claiming now was the best outcome. But if I put the focus back on longevity insurance, I would have less worry about market volatili...

These are very thoughtful and helpful responses, thanks to all 3 of you above. It started a good dinner-table conversation tonight and got me to think more deeply about the longevity insurance vs. cash maximization decision. I always thought I would sail on the longevity insurance boat but now I'm wondering. Since this monthly amount is not going to be the difference between regular meals and cat food for me at any age, maybe cash maximization makes sense. I can't find the Kotlikoff results from 3 years ago, though I'm sure I saved them somewhere. I'll keep looking for them before I renew my subscription and redo the calculation. I've looked at the Piper results in more depth, and I ran some alternative scenarios for claiming date and morta...

I finally got around to running Open Social Security for my situation and got a very unexpected result (file NOW at 63.) I did a calculation 3 years ago with a different calculator (Maximize my Social Security by Lawrence Kotlikoff) and got the result I expected at the time (wait until 70 to file.) I'd appreciate any help in understanding what OSS is trying to tell me and if I should in fact leap into filing. Here are the details: I am 63. I worked in the U.S. at the beginning of my career for precisely 40 quarters. Those were low-earning years of course, so my PIA is approximately $1300. I am now a non-resident alien. My husband is 71. He never worked in the U.S. but my understanding is he is still entitled to spousal benefits, without WEP...

A couple of things not previously mentioned: Late October is after the tourist season for the Cinque Terre. Many hotels and restaurants will be closed and the weather will be iffy, often with lots of rainstorms. This can be ok if you like stormy seasides and small / no crowds, but you should definitely check about lodging and eating options in advance. If you drive, be sure you are aware of ZTL zones where only residents are allowed to drive. If you are driving and see a round sign with white inside and red ring around the outside of the sign, STOP and turn around. These are camera controlled ‘do not enter‘ signs. They will often have text beneath them saying do not enter ‘except…’ Assume you do not meet any of the exception categories. If ...

Yes, you can do it all online. I live in Italy and use Interactive Brokers. They are exclusively an online brokerage. Very easy and low fees

Addressing only the ‘retire in Canada’ question. I was born in US and lived there 30 years, then lived the next 30 years in Canada. I live in Europe now, but my answer for a Canadian retirement in your shoes would be a qualified yes. Qualified because I think the quality of life is much better, healthcare is a lot saner, but the financial situation is not always clear-cut. A few considerations: Housing : Since you’re in Michigan, I assume you would be looking at a move to Ontario? Housing costs are ridiculous at the moment. Taxes : I suspect your ON taxes would be higher than in MI. Mine were not, as I moved from New York to Alberta, so my tax costs went down. You will have to file both U.S. and Canadian tax returns the rest of your life, s...

This isn't exactly an investing question, but a financial management question. I have been resident in Italy for nearly two years now. I have been unable to find a credit card product. I am looking for something like I had in Canada: generous credit limit (I pay it all off monthly but if I want to buy several washing machines and a big TV one month, I don't want to dork around with a 2000 Euro credit limit.) low or no annual fee denominated in Euros to avoid foreign transaction fees will give me a card based on retirement income, as I don't and can't work here (visa restrictions) For two years, I've continued to use my Canadian credit cards, which sadly do have foreign transaction fees (it's a rare Canadian card that doesn't). I have prepai...

I have a real-life example of this. I am in the process of clearing out my trad IRA now that I am a non-resident alien. So far, it’s working fine. I just need to stay alive another ten years and it will be a perfect strategy :D Details: started Trad IRA with my first post-college job Faithfully contributed the whopping maximum of $2000/year until I moved to Canada ten years later Never contributed another dime after that, contributed to Canadian RRSP instead Retired at 59, finally renounced U.S. citizenship, moved to Italy which has a good tax treaty with U.S. Chose to live in a region eligible for 10 years of 7% flat tax (immigration incentive to lure retirees to underpopulated regions of Italy) started withdrawals (at age 61) of 10% of th...

I am currently finishing year 2 of expatriating to Italy and intend to stay for the long haul. Having said that, FOMO is the worst reason I can think of to make a similar move. OpenMinded1 listed a lot of possible hurdles to moving overseas. Yup, those are all valid in my experience. The reason to leap those hurdles has to be personal. You have to want the life you are moving to, and be willing to learn how to jump the hurdles and enjoy the process of that learning, or you will slink home telling horrible stories about "the Italian bureaucracy". Or the Portuguese bureaucracy, or how horrible the locals are, or whatever excuse you can find to explain your failure to integrate. Sounds harsh, but in fact it is not easy to change your...

I once read that you can't be considered a real car person (ok car 'guy') until you have owned at least 50 cylinders. I'm at 12 cylinders lifetime, and I'm 62. I never considered a commission-based job as I worried too much about the downside of not making quota. So, now that we have established that your appetite for risk and cars is far greater than mine, I'd like to add a few points about risk management. If you list all the bad things you can envision, and attach two grades to each item, one for probability of the bad thing happening and one for severity of the impact if it does happen, you will see which potential risks would really bother you. This helps identify which 'bad risks' you'd like to mitigate up front with your cash, and wh...

In fact, as soon as you obtain temporary residency during your first year, you can buy into the national health care system for low fees (depending on the country.) You are not usually eligible for free health care until you have permanent residency after about 5 years. But it is usually a condition of your entry visa to have private insurance for the first year,

I have done this, just finishing my second year in Italy and intend to stay indefinitely. The advice above is good. Be prepared to do a lot of research and understand all the requirements of your particular country of choice and visa type. There are plenty of details that matter around right to work, how to obtain residency, etc. For example, in most EU countries you will be required to start from scratch on getting a driver’s license. Your U.S. license will be valid for one year. It is not usually exchangeable for a local one, you have to take the theory and practical tests from scratch. In the language of your country, not English. Different countries may have slightly different rules, but that is the most common one. Expats all bellyache...

@DebiT: Rick Steves again. He runs "My Way" tours that basically manage the sleep/tranport logistics for you and leave you to your own sightseeing and meals. Not all his tours are runs as My Way so you'd have to look to see if they go places that interest you, mostly in Western Europe where traveling is pretty easy.

I second the Rick Steves recommendation. Another good company is Road Scholar. It's targeted at seniors, and I don't know your ages, but it has very knowledgeable guides and learning experiences beyond just bus in, look and leave. If you are willing to arrange transportation and lodging yourselves, those three cities all offer very good day tours that you can book with a few clicks. Then you don't need to arrange entrance tickets etc as they are included in the tours. Recommended companies are Walks of Italy, Context Italy and Through Eternity. I am not familiar with the luxury tour companies, not my style/budget, but I'm sure there are some more posh ones. Many universities, including mine, offer so-called affinity tours for their alumni -...

It sounds like maybe OP hasn't done enough of that thinking through and is now starting to think about it now that we've hit a rough patch.

Exactly. Accumulation went fairly well, and I’m happy with our portfolio. But I have not done enough thinking about decumulation generally, and specifically about making adjustments - up or down. I’m still having trouble spending saved funds without regret, and I’m trying to set more of a strategy so I have some planned triggers for adjustments instead of feelings. There have been some great comments here, I appreciate it. Now to do the work…

Some interesting comments here. To be clear, I’m not in any particular danger of overspending, I am just trying to decide what tools or guidelines I want to adopt for an early warning system. My understanding of VPW was that it was designed as an annual tool for setting withdrawals. I thought monthly adjustments might be overdoing it, too much fiddling. But maybe not, as others are doing the same. This year we have had some extra non-recurring expenses that are almost done. But some extra non-portfolio income I’ve been receiving is also almost done. I had planned some home remodel work but I think I’ll hold off a bit. I don’t need to pull my neck all the way in but I would like something beyond “gee I feel a bit nervous” to provide some gui...

Hello, I'm a relatively recent retiree (2019) and this is the first real downturn I've lived through since I stopped getting a paycheck. There are a lot of threads here that talk about hypothetical spending adjustments in this event. I'm trying to decide how to determine how much belt tightening I need to do month by month. I'm not worried about my AA or my specific investments, they're fine and I will leave them alone. I'm not very interested in a personal budget review here. I'm asking for suggestions on what you have done or what you recommend as a way to measure how hard to pull back as our portfolio tracks down. I feel that I'd like to get ahead of the curve instead of reacting to an overspend after I've committed to it. But I don't wa...

Home Outside plan: I chose the landscape design, not the garden design, as we are starting from scratch. There is nothing here but some scraggly fruit trees and a few random roses, all of which will go. I had a lot of ideas of what I wanted, and she used those but added some really good new ones. I am sticking as closely as zoning allows to the plan she designed, so lots of value for $1000.