Search found 94 matches

by FI4LIFE
Sun Jul 21, 2019 9:53 am
Forum: Investing - Theory, News & General
Topic: Strength training is like investment
Replies: 46
Views: 2979

Re: Strength training is like investment

I somewhat agree but will tell you that compound lifts are not the harmless, fool proof, miracle exercises that Medhi and Mark Rippetoe make them out to be. After all, they are both marketing their routines for profit. Have you met an old powerlifter without nagging injuries from lifting? I haven't....
by FI4LIFE
Fri Jul 19, 2019 6:16 pm
Forum: Personal Investments
Topic: Just sat through a wealth-management sales pitch.
Replies: 96
Views: 9667

Re: Just sat through a wealth-management sales pitch.

My parents still have their cutco knives. They must be 30+ years old. One of the handles broke like 15 years after they bought them and cutco replaced the knife at no charge. If one of my friends kids were selling them I'd sit down for a sales pitch. I see nothing slimy about it. Great way for kids ...
by FI4LIFE
Thu Jul 18, 2019 6:49 am
Forum: Personal Finance (Not Investing)
Topic: How much house to buy?
Replies: 14
Views: 1126

Re: How much house to buy?

My rule of thumb that served me well, now age 75 retired at 55: home should not be worth more than 3x single income or 2.5x combined income, regardless of interest rates, etc. But my most important rule was to save-and-invest at least 30% of after tax income; and I treated paying off principal on t...
by FI4LIFE
Thu Jul 18, 2019 6:15 am
Forum: Personal Finance (Not Investing)
Topic: Risks of buying a Bay Area home with 4-year time horizon?
Replies: 26
Views: 2128

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

My guess is you are underestimating ownership costs, whether it's from opportunity costs of the down payment, sales costs, etc. Most calculations show something closer to 9 years for a break-even point. I see few motivations for buying, and multiple downsides. Normally buying is to save money, whic...
by FI4LIFE
Wed Jul 17, 2019 4:53 pm
Forum: Personal Investments
Topic: Gold?
Replies: 94
Views: 4418

Re: Gold?

As an accumulator for several more decades, I have a harder time owning bonds than gold. The things bonds protect my portfolio from are behavioral and emotional in nature. The things gold protects my portfolio from are structural. Real tail risk stuff. Not that I hold a lot, but I see a genuine rol...
by FI4LIFE
Wed Jul 17, 2019 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Millionaire by 40 and How you Did it?
Replies: 205
Views: 31630

Re: Millionaire by 40 and How you Did it?

I think one of the key things to point out is that most people who responded here are dual-income households, with both spouses working, and both have a semi high income. That seems a bit unfair to me since its obviously much easier to achieve a million dollars net worth by 40 with two people contr...
by FI4LIFE
Mon Jul 15, 2019 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Tenant turned off all utilities advice please!!
Replies: 83
Views: 6846

Re: Tenant turned off all utilities advice please!!

I will not try to add anything since sandtrap covered it well but this sounds like a big nothing-burger. Far from a nightmare tenant. They mostly paid and left the place dirty and minor damage. Routine landlord stuff.
by FI4LIFE
Mon Jul 15, 2019 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Millionaire by 40 and How you Did it?
Replies: 205
Views: 31630

Re: Millionaire by 40 and How you Did it?

Pattray wrote:
Mon Jul 15, 2019 6:45 am
I came to this country in 1982 age 19 with $158.00 in my pocket. Started a business in 1989 and hit 1mm in worth in late 1996 at age 34 ish, retired in Jan 2016 at 52 and hit 8 figures this year, still pinching myself !
8 figure club. Congrats!!
by FI4LIFE
Mon Jul 15, 2019 8:37 am
Forum: Personal Finance (Not Investing)
Topic: Millionaire by 40 and How you Did it?
Replies: 205
Views: 31630

Re: Millionaire by 40 and How you Did it?

I was blessed to have parents who set the example of working hard and investing. They get most of the credit. My career is not necessarily really high paying, but you move to top pay early. I started saving for retirement at 20 and was able to increase that savings early due to my career choice. At ...
by FI4LIFE
Sun Jul 07, 2019 12:55 pm
Forum: Personal Consumer Issues
Topic: Are you a serious DIYer?
Replies: 84
Views: 5704

Re: Are you a serious DIYer?

I'm a 10 and enjoy it about a 2.
by FI4LIFE
Fri Jul 05, 2019 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Preparing my wife for financial life without me.
Replies: 95
Views: 10590

Re: Preparing my wife for financial life without me.

Interesting. Let me give you a report from the trenches. Having recently lost my husband - fortunately I had always handled all the finances - I joined a grief support group in my generally high net worth senior community. To a woman, every widow but me complained that her husband had deceived her ...
by FI4LIFE
Fri Jul 05, 2019 6:57 am
Forum: Personal Investments
Topic: Noob worried about retiring in 7-10 years! Will I have enough - you decide!
Replies: 32
Views: 3666

Re: Noob worried about retiring in 7-10 years! Will I have enough - you decide!

How is it that you will need to spend more in retirement than you are now? Also, once you stop working you won't need a new car. An acceptable used car should be fine. I do fine commuting to work etc. in my car I bought years ago for $7k. I can't imagine needing $80k a year in retirement as a single...
by FI4LIFE
Wed Jul 03, 2019 9:06 pm
Forum: Investing - Theory, News & General
Topic: Good times: 2008 vs Now
Replies: 145
Views: 14496

Re: Good times: 2008 vs Now

The only thing I can add to this thread is my personal experience leading up to the 2008 crash. I was looking to purchase my first home starting around 2005. The real estate market was so hot that if you were a buyer there was an incredible sense of urgency to buy something you liked as soon as poss...
by FI4LIFE
Wed Jul 03, 2019 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing my wife for financial life without me.
Replies: 95
Views: 10590

Re: Preparing my wife for financial life without me.

I'll probably walk my wife through a plan once and include some notes in a binder containing statements for all our accounts. Beyond that, I won't care because I'll be demented or dead. She never listens to me anyway.
by FI4LIFE
Wed Jul 03, 2019 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: Big Hospital Bill - Any way to negotiate ?
Replies: 130
Views: 7586

Re: Big Hospital Bill - Anyway to negociate ?

I have no personal experience with this, but a good friends wife had a baby and he was left with a $9k bill after insurance. He decided just to not pay it and see what happened. He eventually got a call from the hospital asking what he was able to afford and he was able to knock several thousand off...
by FI4LIFE
Wed Jul 03, 2019 7:31 am
Forum: Personal Consumer Issues
Topic: Parents got ripped off, what can I do about it?
Replies: 75
Views: 6655

Re: Parents got ripped off, what can I do about it?

It amazes me that everyone always thinks they're ripped off because "they" could have done it for less. No kidding!! You can buy a garbage disposal for less than $150 and install it in less than an hour...if you know what you're doing. Is it difficult, not at all...but there are a lot of people who...
by FI4LIFE
Wed Jul 03, 2019 7:23 am
Forum: Personal Finance (Not Investing)
Topic: Inheriting two homes, sell or rent them ...
Replies: 27
Views: 2253

Re: Inheriting two homes, sell or rent them ...

If it were me, I would sell both and invest in an index fund. I would take $10k a year to be used to enjoy time with my family as that is what my parents would want. Sorry for your loss. I have nothing against rental properties but would prefer they are local.
by FI4LIFE
Wed Jul 03, 2019 7:09 am
Forum: Personal Consumer Issues
Topic: Traveling Overnight / Wife Near-Term / No Family In Town - how to handle
Replies: 21
Views: 2121

Re: Traveling Overnight / Wife Near-Term / No Family In Town - how to handle

I refuse to give you advice on this because there are few reasons I can think of where I would risk missing the birth of my children and they all involve life or death situations. C'mon man!
by FI4LIFE
Wed Jul 03, 2019 5:57 am
Forum: Personal Consumer Issues
Topic: Parents got ripped off, what can I do about it?
Replies: 75
Views: 6655

Re: Parents got ripped off, what can I do about it?

A little high but not awful. How much time would it have taken you to look at the disposal and diagnose what was wrong, figure out what part you needed, go to the supply store and get the part, drive back and install the part? A lot more than 30 minutes.
by FI4LIFE
Tue Jul 02, 2019 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Would we regret buying a 2nd home?
Replies: 90
Views: 7932

Re: Would we regret buying a 2nd home?

I would hate owning a second home. Double the maintenance and headaches. If it is your dream to live on a lake, then live on a lake. Sell your primary residence. You can add an in-law to your kids home or rent near them occasionally for special occasions. A second home is an awful investment most of...
by FI4LIFE
Wed Jun 26, 2019 6:29 pm
Forum: Personal Consumer Issues
Topic: Belt sander or disc sander for refinishing decks?
Replies: 32
Views: 2452

Re: Belt sander or disc sander for refinishing decks?

I was in the same position (twice actually). One time I just flipped the boards over. The next time we used the professional floor sander. Realize you should probably sink all the nails or screws approximately 1/8 inch if you are going to use the professional sander or you will quickly go through th...
by FI4LIFE
Tue Jun 25, 2019 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Pay Cash for Primary Residence?
Replies: 44
Views: 4611

Re: Pay Cash for Primary Residence?

For what it's worth, we are in the almost exact same position as you with similar age, costs, NW, salary and phase of life and I think you made a wise decision.
by FI4LIFE
Tue Jun 25, 2019 9:02 am
Forum: Personal Consumer Issues
Topic: what was your worst major purchase? mine is a 2019 mazda3
Replies: 182
Views: 15860

Re: what was your worst major purchase? mine is a 2019 mazda3

$20k to extend our yard a couple of feet. All it did was give me more yard to mow. Nobody uses it. Won't recoup when we sell. Awful decision.
by FI4LIFE
Sun Jun 23, 2019 10:13 am
Forum: Investing - Theory, News & General
Topic: Next 30 Years for Ray Dalio’s All Weather Portfolio?
Replies: 44
Views: 4232

Re: Next 30 Years for Ray Dalio’s All Weather Portfolio?

I was chastised on another forum for recommending the Tony Robbins version of dalios all-weather portfolio. I was told it is a [corrupted version -- mod oldcomputerguy] of dalios method, which includes a high level of leverage based on market conditions. Never really looked into it.
by FI4LIFE
Sun Jun 23, 2019 10:05 am
Forum: Personal Consumer Issues
Topic: How do you approach tipping at carry-out restaurants
Replies: 111
Views: 7528

Re: How do you approach tipping at carry-out restaurants

Tips are for wait staff only. Deli workers, cashiers, and food prep workers are paid above minimum wage. Wait staff earn well below. Zero dollars on take out orders.
by FI4LIFE
Wed Jun 19, 2019 6:05 pm
Forum: Personal Consumer Issues
Topic: How to take care of this mold in the bathroom
Replies: 8
Views: 1130

Re: How to take care of this mold in the bathroom

Run the water or have a family member shower and just watch. You'll figure it out.
by FI4LIFE
Wed Jun 19, 2019 8:00 am
Forum: Personal Consumer Issues
Topic: How to take care of this mold in the bathroom
Replies: 8
Views: 1130

Re: How to take care of this mold in the bathroom

Replace the base moulding (it is not sheetrock as stated above). Make sure the moulding is wood or PVC (not particle board/mdf). Spray the rest of the area with 1:10 bleach:water or tilex, let sit for 5 minutes and wipe clean. Figure out why the shower/tub is leaking and fix that. Can't see the pict...
by FI4LIFE
Mon Jun 17, 2019 12:26 pm
Forum: Personal Consumer Issues
Topic: My Bad Experience With Angie's List
Replies: 36
Views: 4199

Re: My Bad Experience With Angie's List

Go to your local lumber yard and describe the work you need done. I'm talking about real lumber yard (not home depot). Ask the sales clerk if he/she can recommend anyone or tap on a contractors shoulder and ask. Professional paint stores are a good place to shop around too since a lot of painters ar...
by FI4LIFE
Mon Jun 17, 2019 7:01 am
Forum: Personal Consumer Issues
Topic: how is Home Depot's contractor service (for a water heater)?
Replies: 53
Views: 4204

Re: how is Home Depot's contractor service (for a water heater)?

Support your local community tradespeople by dealing with them directly. HD and Lowe's will take their cut and whatever is left will go to the tradesman. Some will not care about this but I do. I don't like big corps funneling money out of my community.
by FI4LIFE
Sun Jun 16, 2019 10:49 am
Forum: Personal Consumer Issues
Topic: how is Home Depot's contractor service (for a water heater)?
Replies: 53
Views: 4204

Re: how is Home Depot's contractor service (for a water heater)?

runner3081 wrote:
Sat Jun 15, 2019 5:31 pm
Depends on who they sub it out to.
Exactly. Flip a coin.

You're better off getting recommendations from friends for a good plumber.
by FI4LIFE
Sun Jun 16, 2019 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 555
Views: 49354

Re: Why are you NOT buying rental properties?

I read about real estate investing for fun but every time I evaluate a property, the numbers don't work out vs. index investing where I can just sit at a computer for two minutes and push a button. I am not in a good rental market. Properties that meet the 1% rule are in "war zones" with an impoveri...
by FI4LIFE
Thu Jun 13, 2019 3:03 pm
Forum: Personal Consumer Issues
Topic: Retired at 35 and have no friends :(
Replies: 113
Views: 11201

Re: Retired at 35 and have no friends :(

Nurses, firefighters, police officers, paramedics/EMTs, other medical professionals, teachers (summer), older retired people, stay-at-home parents are all home during "normal" working hours.
by FI4LIFE
Thu Jun 13, 2019 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Late Life/End of Life Expenses
Replies: 38
Views: 3833

Re: Late Life/End of Life Expenses

I have recently acquired a deep interest in end of life decision making... perhaps it is a mid-life crisis. I am always curious when an elderly person decides to undergo intense life-saving surgery for cancer or some other ailment. I don't have an exact age where I feel this is foolish, but it's som...
by FI4LIFE
Sun Jun 09, 2019 6:31 pm
Forum: Personal Consumer Issues
Topic: lawn care cost
Replies: 70
Views: 5892

Re: lawn care cost

I despise the fact that my neighbors all use professional lawn services. Their giant equipment is so loud. Never a peaceful day all summer long.
by FI4LIFE
Sun Jun 09, 2019 6:28 pm
Forum: Personal Consumer Issues
Topic: Are You Dumping Netflix?
Replies: 218
Views: 17701

Re: Are You Dumping Netflix?

I'd be happier with 5 good dramas instead of hundreds of mediocre shows but I haven't cancelled yet.
by FI4LIFE
Thu Jun 06, 2019 9:40 am
Forum: Personal Consumer Issues
Topic: New Roof - to RidgeVent or to not RidgeVent
Replies: 39
Views: 3956

Re: New Roof - to RidgeVent or to not RidgeVent

This is just a trick by the one roofer to appear cheaper than his competition. Throw his bid in the garbage. You need soffit and ridge vents. Any roofer without a carpenter on hand to make rake/fascia repairs is a hack. Just had my roof done plus all trim boards. Roofers handled everything and did a...
by FI4LIFE
Thu Jun 06, 2019 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Value of Zillow house price estimate
Replies: 44
Views: 6082

Re: Value of Zillow house price estimate

I found my house on Zillow listed under "pre-forclosure". After many phone calls and emails to both Zillow and my mortgage company as well as a trip to town hall I could not figure out why it was listed there. Zillow was very non-committal in their responses. Since then I am distrustful of anything ...
by FI4LIFE
Thu Jun 06, 2019 9:23 am
Forum: Personal Finance (Not Investing)
Topic: What is/ was your career and would you recommend it now?
Replies: 482
Views: 52192

Re: What is/ was your career and would you recommend it now?

Military officer for 9 years. Now IT Management at a megacorp. Still part time military officer (National Guard). And my favorite job, husband and father of 3. I haven't planned much of where I've ended up, but it has all been good. I recommend the military, either active or reserve, officer or enl...
by FI4LIFE
Wed Jun 05, 2019 3:21 pm
Forum: Personal Consumer Issues
Topic: Favorite youtube channels?
Replies: 81
Views: 7530

Re: Favorite youtube channels?

Any Bill Burr stand up or late night appearance is worth watching.
by FI4LIFE
Wed Jun 05, 2019 7:22 am
Forum: Personal Finance (Not Investing)
Topic: Paying half of my paycheck on health insurance?
Replies: 63
Views: 4529

Re: Paying half of my paycheck on health insurance?

I might forgo insurance as a young, healthy individual. I know I will get lambasted for that but it's the reality of today's healthcare system.
by FI4LIFE
Tue Jun 04, 2019 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Tell us your side hustle success stories.
Replies: 68
Views: 7008

Re: Tell us your side hustle success stories.

I'll give a side-hustle failure story. General carpentry is a terrible side hustle IMO. I tried it for a while and wasted so many hours trying to properly price jobs that I wouldn't get anyway, loading up and setting up/taking down tools for odd jobs, running to the hardware store for that one thin...
by FI4LIFE
Tue Jun 04, 2019 11:43 am
Forum: Personal Consumer Issues
Topic: New refrigerator noise is driving us nuts
Replies: 32
Views: 2561

Re: New refrigerator noise is driving us nuts

Luckily home depot will take back anything. I love our Samsung appliances. They were cheap too. I never hear our fridge. It is 1 year old.
by FI4LIFE
Tue Jun 04, 2019 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Tell us your side hustle success stories.
Replies: 68
Views: 7008

Re: Tell us your side hustle success stories.

I'll give a side-hustle failure story. General carpentry is a terrible side hustle IMO. I tried it for a while and wasted so many hours trying to properly price jobs that I wouldn't get anyway, loading up and setting up/taking down tools for odd jobs, running to the hardware store for that one thing...
by FI4LIFE
Mon Jun 03, 2019 2:48 pm
Forum: Personal Consumer Issues
Topic: Do you drive old cars for long distance travels?
Replies: 105
Views: 7146

Re: Do you drive old cars for long distance travels?

200k miles is the new 100k miles. My 15 year old Toyota Highlander has 105k miles. I'd drive it anywhere tomorrow and assume the same will be true 5 years from now. The worst thing that happens is it breaks down and we have to rent a car. This is incredibly unlikely to happen but is not a big deal i...
by FI4LIFE
Mon Jun 03, 2019 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Should All Grandkids Be Treated as Equal Members of Same Class?
Replies: 104
Views: 8160

Re: Should All Grandkids Be Treated as Equal Members of Same Class?

This whole thread is why you should keep things simple and leave everything to your kids and let them sort it out. This doesn't work for every single situation but works for most.
by FI4LIFE
Mon Jun 03, 2019 10:04 am
Forum: Personal Consumer Issues
Topic: 23 and me vs. ancestry- thoughts?
Replies: 38
Views: 2925

Re: 23 and me vs. ancestry- thoughts?

livesoft wrote:
Fri May 31, 2019 1:46 pm
The best use of these things is to find out that one's parent is not your biological parent.
Or to find out that you are not Irish and have mistakenly gotten a shamrock tattooed on your arm.
by FI4LIFE
Mon Jun 03, 2019 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Invited to vacation house then surprised with expenses—what now?
Replies: 64
Views: 3769

Re: Invited to vacation house then surprised with expenses—what now?

I would, as others have said, just pay up now and remember for next time, even though your in-laws are completely in the wrong. In the grand scheme of things $1100 is a small price to pay.
by FI4LIFE
Mon Jun 03, 2019 8:03 am
Forum: Personal Investments
Topic: Can't do this alone-need a financial planner-please help!
Replies: 27
Views: 5182

Re: Can't do this alone-need a financial planner-please help!

If you break everything down into pieces it is not too complex. Your retirement account: Sounds like you are self-employed? You can contribute up to $19000 per year to a self-directed 401k (if that is what you opened). If you are not interested in monitoring investments just pick a low-fee target da...
by FI4LIFE
Sun Jun 02, 2019 4:51 am
Forum: Personal Finance (Not Investing)
Topic: Fun paid jobs after FIRE
Replies: 180
Views: 16557

Re: Fun paid jobs after FIRE

My favorite stress free job in my life as a 15 year old was working at a pizza parlor. I would like to eventually work in the food service and entertainment industry. I have no interest in owning a restaurant but would enjoy learning to make and serve food and drinks in a small family (someone else...