Search found 1883 matches

by mlebuf
Fri Apr 01, 2022 12:08 am
Forum: Investing - Theory, News & General
Topic: Investing Lessons from Taylor Larimore
Replies: 77
Views: 12077

Re: Investing Lessons from Taylor Larimore

That is a wonderful and fitting tribute to a wonderful man. Thank you, Alan, and thank you, Taylor for your decades of service and help to so many. We are all better for having known you. Your financial advice is great, but as a role model, you are priceless.

Best wishes,
Michael
by mlebuf
Sat Jun 08, 2019 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 13653

Re: Do you carry Umbrella Insurance?

We carry an umbrella policy with coverage that's slightly more than our net worth. Liability insurance is relatively cheap because the odds of any one person ever needing it are very small.

Why do we carry it? To quote the late and very wise Peter Bernstein: "Risk is about the consquences of being wrong." :oops: Don't fail to insure because the odds of something happening are small. Insure against what you can't afford to have happen. It's the bus we don't see that hits us.
by mlebuf
Thu Jun 06, 2019 11:51 am
Forum: Investing - Theory, News & General
Topic: Thank you, Taylor Larimore!
Replies: 49
Views: 8563

Re: Thank you, Taylor Larimore!

Hi Taylor,

With today being the 75th anniversary of D-Day, my thoughts immediately turned to you. Bogleheads and others are indebted and eternally grateful for the sacrifices that you and other members of the greatest generation made.

Over the years I had neighbors, friends, relatives, teachers and colleagues who were veterans of WW II. Last night on a TV tribute to D-Day I learned that only 4 percent of WW II veterans are still living. We on this forum and others are beneficiaries of you being a member of the fortunate 4 percent. Your leadership and contributions have been and continue to be immeasurable. Thank you.
by mlebuf
Wed Jun 05, 2019 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Would you buy a house without a garage?
Replies: 95
Views: 8681

Re: Would you buy a house without a garage?

If you are one who likes to buy a car and keep it a long time, a garage or some type of indoor parking will help keep your car in good physical shape.
by mlebuf
Wed Jun 05, 2019 1:06 am
Forum: Investing - Theory, News & General
Topic: You May Never See Your Grandchildren Again
Replies: 83
Views: 16685

Re: You May Never See Your Grandchildren Again

Rick,

What the "free dinner" guy said may not be illegal, but you have the right to express your opinion as you did in your excellent article. I'm sure there are many other dinner salesmen trolling The Villages selling high commission products. How about putting on a "Let the Buyer Beware" presentation that gives them a objective viewpoint and tells those interested how to not get taken? How about putting the same message in a Villages publication? Just a thought.

We regularly get "free dinner" invitations in the mail. They go straight into the round file.
by mlebuf
Mon Jun 03, 2019 3:52 pm
Forum: Investing - Theory, News & General
Topic: You May Never See Your Grandchildren Again
Replies: 83
Views: 16685

Re: You May Never See Your Grandchildren Again

What a con artist! Somebody needs to wear a wire to a dinner, record his lies and take it to the appropriate authorities.

Great work, Rick. A lot of seniors will read your column and be saved from the charlatans.
by mlebuf
Thu May 30, 2019 8:29 pm
Forum: Investing - Theory, News & General
Topic: Jim Cramer
Replies: 59
Views: 7631

Re: Jim Cramer in Miami

Bogleheads: In March of 2000, at the peak of a bull market, Mr. Bogle and Mr. Cramer were keynote speakers at a Miami Money Show. Mr. Bogle warned about the stock "bubble" and urged his listeners to maintain a healthy allocation to bonds. Mr. Bogle was followed by Jim Cramer. Mel and I stood in the back of the auditorium as Mr. Cramer told us to write down the name of "10 stocks for who is going to make it in the New World." So what happened? Alan Abelson in an April, 2004, column in Barron's wrote: "His (Cramer's) 10 dot-com bubble picks of 2000, ended up tanking by an average of -90%." Jim Cramer is dangerous. Best wishes Taylor Thank you, Taylor. In "The Bogleheads' Guide to Investing" we wrote a ...
by mlebuf
Sun May 19, 2019 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26681

Re: High net worth, elite private or “good” public

Coachd50 makes some excellent points. How someone does in college and life depends on a lot of other factors as much or more than where they go to school. Thinking back, when I was an undergrad at LSU, I knew a guy who graduated from Newman and flunked out in his freshman year. It doesn't matter where one goes to high school if he/she doesn't do the work. That same guy went on to become an attorney and later spent time in prison. :oops: At the same time, consider that former Remington owner, Victor Kiam, bestselling author Michael Lewis, Archie Manning's sons, Cooper, Peyton and Eli all went to Newman. I remember reading that Eli scored extremely high on the NFL intelligence test when he was a rookie. On, New Year's night of 2017, I got an ...
by mlebuf
Sun May 19, 2019 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26681

Re: High net worth, elite private or “good” public

Speaking as a retired professor my belief is that education money is best spent on a great K-12 education. Most parents send their kids to a convenient school for K-12 and then save to pay for an expensive college. The kids who get a great K-12 education will likely do very well in college and later in life regardless of where they get their higher education. Great buildings and great minds are built on a strong foundation. If money is not an issue, I would opt for a great private school, with a track record of turning out high achievers in life. Keep in mind that not all private schools are created equally. To be sure, there are many great public and parochial schools out there too. When I taught at the University of New Orleans, I taught ...
by mlebuf
Tue May 14, 2019 1:55 am
Forum: Forum Issues and Administration
Topic: For how long will the forum be around?
Replies: 94
Views: 12206

Re: For how long will the forum be around?

Until some media superior to the Internet replaces it. When that happens, some form similar to or identical to bogleheads.org will likely be there.

"Forecasting is very difficult, especially when it involves the future." - Yogi Berra
by mlebuf
Sat May 11, 2019 10:54 pm
Forum: Personal Investments
Topic: CPA advice--does this make sense??
Replies: 33
Views: 5690

Re: CPA advice--does this make sense??

Consider what marginal tax bracket you are in. For example let's assume you are in the 24 percent marginal tax bracket. For every extra dollar you take out of your tax deferred accounts, you pay 24 cents more to the IRS and perhaps more to the state. For big purchases it might be less taxing in the long run to borrow the money, pay a bank 5 percent interest and pay it off over several years than to pay a big chunk of extra money to the government all at once. For the record, I am not a CPA.
by mlebuf
Sun May 05, 2019 9:01 pm
Forum: Personal Consumer Issues
Topic: Outdoor Jacuzzi - Cost vs Value?
Replies: 22
Views: 3556

Re: Outdoor Jacuzzi - Cost vs Value?

When I was young and not financially independent, I dreamed of having a home with a fireplace, a pool, a Jacuzzi and a garage. Fortune smiled on me and in 1995 I purchased a house with 3 fireplaces, a heated pool, an indoor and an outdoor Jacuzzi and a 3-car garage. I have been living in this house for over 23 years. I really enjoy my garage. Just one man's opinion.
by mlebuf
Mon Apr 29, 2019 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Retirees: I'm not going to run out
Replies: 62
Views: 10757

Re: Retirees: I'm not going to run out

Many of us know that financial experts recommend having a portfolio of 25 X annual spending, withdrawing no more than 4 percent per year starting at age 65 and adjusting future annual withdrawals for inflation. My opinion is that the vast majority of retirees who dogmatically follow those rules will have a lot of heirs smiling at their funerals.

My favorite article about spending down assets in retirement was written by Scott Burns:
https://assetbuilder.com/knowledge-cent ... onic-clock
by mlebuf
Mon Apr 29, 2019 3:30 am
Forum: US Chapters
Topic: Arizona Chapter
Replies: 139
Views: 50818

Re: Arizona Chapter

Hi Mark and jbranx,

Our second meeting attracted another group of quality people and great discussions. I look forward to the next meeting. Many thanks to you for getting the chapter started.

Glad that both of you enjoyed my presentation. I believe that everyone has a right to my opinion. :D
by mlebuf
Sun Apr 28, 2019 2:10 am
Forum: Personal Finance (Not Investing)
Topic: Is this too much house and am I getting away from my financial goal?
Replies: 13
Views: 2167

Re: Is this too much house and am I getting away from my financial goal?

Hi Fisherman8, When it comes to housing, my belief is that choosing a home should be a lifestyle decision rather than a financial one. Yes, a $1.45 million dollar home will likely not give you a better return than a mutual fund. However, you and your family can't live in a mutual fund. If your dream is to live by the water and you can afford it, I say "Go for it!" Finance it with 15-year fixed-rate mortgage and it will be paid off when you are 51 at the latest. Before committing to buy it, have a housing inspector inspect it for any potential financial land mines and make sure the nearby water isn't a safety hazard for you or your family. A friend and former student I taught years ago had a very successful career. Like you, he lov...
by mlebuf
Sat Apr 27, 2019 1:41 pm
Forum: US Chapters
Topic: Arizona Chapter
Replies: 139
Views: 50818

Re: Arizona Chapter

Yes, it is. Hope to see you there.
by mlebuf
Thu Apr 25, 2019 8:48 pm
Forum: Personal Investments
Topic: 14 years old and looking for investment advice
Replies: 37
Views: 4562

Re: 14 years old and looking for investment advice

Hi I’m new here and looking for some advice, I am 14 years old and I have $1000 to invest and I want to turn that into $10,000, any advice would be greatly appreciated. Thank you $10,000 is chump change, my friend. How about $4 million? https://news.wsu.edu/wp-content/uploads/2011/08/wages-and-education-2011-georgetown-615p.jpg Best place to put that $1,000? Princeton Review. Then ace the SAT/ACT. Get great grades in high school. Participate in meaningful extracurriculars. Volunteer. Play in a sport. Get accepted to a terrific college and choose a STEM major. Sure, its a fine decision to use the $1,000 to put into a Roth IRA and purchase an S&P500 index fund. But, this is nothing compared to investing in yourself and getting results in...
by mlebuf
Thu Apr 25, 2019 3:30 am
Forum: Personal Investments
Topic: 14 years old and looking for investment advice
Replies: 37
Views: 4562

Re: 14 years old and looking for investment advice

Hi HKline, Welcome to the Forum. Your post brought back a lot of great memories. Seventeen years ago I got a message from a member of the Bogleheads who was age 13. He bought his first stock at age 8 and had been studying investing since then. He knew I was an author and asked me for some advice. He was writing a book on investing and wanted some tips on how to get it published. I gave him a few pointers and he ended up getting his book published by McGraw-Hill. The title is, "The Teenage Investor" and the advice he gives is just as valid today as it was back then. Here's link where you can order the book: https://www.amazon.com/Teenage-Investor-Start-Invest-Wealth/dp/0071416633/ref=sr_1_1?keywords=the+teenage+investor&qid=155...
by mlebuf
Wed Apr 24, 2019 2:23 am
Forum: Investing - Theory, News & General
Topic: input needed on this book by Robert T. Kiyosaki in the "Rich Dad" series. Helping a friend.
Replies: 19
Views: 4174

Re: input needed on this book by Robert T. Kiyosaki in the "Rich Dad" series. Helping a friend.

Hi Sandtrap, My advice to your friends about spending money on Rich Dad materials can be summed up in just 4 words: "Don't take the bait!" They need to sit back and learn the simple principles of low cost investing. They won't find it nearly as exciting as being seduced by a slick talking seminar leader but it will get them on the right road to building wealth. Sound investing should be as exciting as watching paint dry. Getting excited about what one learns at a free seminar is almost always a blueprint for losing money. You are one of our most intelligent posters. Perhaps you can share your financial experiences with them and how you came to become a Boglehead. Many of us, including myself discovered the Boglehead approach after...
by mlebuf
Tue Apr 16, 2019 9:57 pm
Forum: Personal Consumer Issues
Topic: What are your hobbies?
Replies: 561
Views: 16583

Re: What is your hobby and how did it come to be your hobby?

Another Amateur Radio operator here. Got interested in 1956 when a story in one of the school readers was about a teenage ham who used his ham station sending Morse code to alert people about a dam that was about to break. The message was relayed and saved a lot of lives. Was first licensed in 1957 and stayed active until 1983. Put the hobby on the back burner to devote more time to a fledgling writing and speaking career. In late 2006 I decided to get back on the air and did so in January 2007. It's a wonderful, multi-faceted hobby and the past 12 years of hamming have been the best. To other hams who are interested in my interests, check out K5ML on QRZ.com. Other activities I enjoy are cats and watching college football. We currently hav...
by mlebuf
Tue Apr 16, 2019 1:09 am
Forum: Personal Consumer Issues
Topic: seriously thinking about leaving S. CA but where to?
Replies: 177
Views: 15341

Re: seriously thinking about leaving S. CA but where to?

I live within a mile of Scottsdale. Great quality of life and low crime. The only downside is the summer heat. A lot of people establish a residency in Scottsdale and buy/rent a condo in San Diego, Orange County, etc. for the summers to escape the heat and CA taxes. Others get a second place in Flagstaff, which is a 2-hour drive up the I-17 and much like Colorado ski country. Other N. Arizona places people escape to for the summer are Prescott, Payson and the White Mountains. Tucson is about 120 miles SE of Phoenix but slightly cooler in the summer. I personally don't find the heat all that bad. Everything is air-conditioned and with low humidity you don't drip or feel the heat unless you out in it. Of course, I came from New Orleans that i...
by mlebuf
Sat Mar 30, 2019 11:02 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking about going into sales from engineering
Replies: 39
Views: 5675

Re: Thinking about going into sales from engineering

An engineer with good human skills, who is interested in matching people's needs with what he sells can make far more money than most engineers if he sells the right product/service. One of my former students has a Mechanical Engineering degree and an MBA. At around age 30 he quit his engineering job and became an agent for State Farm Insurance. To say it was a great move is an understatement. He retired at 55. Today, he is in his early 70's. He and his wife split time each year between 2 homes. One is a penthouse condo overlooking downtown Austin TX and the other is a house in Austria. His fortune is totally self-made. He worked hard at his sales career, enjoyed it and sold a high revenue product. There's a lot more money in selling insura...
by mlebuf
Sat Mar 30, 2019 9:28 pm
Forum: Personal Consumer Issues
Topic: "The best and worst U.S. states for retirement"
Replies: 303
Views: 43678

Re: "The best and worst U.S. states for retirement"

A ranking of the best states to retire or whatever likely sells magazines or attracts eyeballs to websites. However there is no one place that's a best place to retire for everyone because we all have different tastes and preferences. Here's a ranking of states from Kiplinger. You will notice that their list is somewhat different.

https://www.kiplinger.com/slideshow/ret ... ml?cid=GEM

We each need to decide which places could be a good fit for us and visit them for a few weeks each. Relying on magazine articles may be a good starting point, but I wouldn't move to any place based on what I read.
by mlebuf
Thu Mar 28, 2019 8:56 pm
Forum: Personal Consumer Issues
Topic: Tattoos and Bogleheads
Replies: 180
Views: 15251

Re: Tattoos and Bogleheads

I once saw an interview with the late author Truman Capote who interviewed a lot of convicted murderers on death row. When asked if he saw any common threads between them, Capote said that he notice two:
1. Almost all had been abused as children.
2. They had a strange fascination with tattoos.

Of course times have changed. That was many years ago.
by mlebuf
Tue Mar 26, 2019 7:19 pm
Forum: Personal Consumer Issues
Topic: Tattoos and Bogleheads
Replies: 180
Views: 15251

Re: Tattoos and Bogleheads

From "Saturday Night Live:" https://vimeo.com/69310297
by mlebuf
Sun Mar 24, 2019 11:42 pm
Forum: Investing - Theory, News & General
Topic: Any believers in the dollar milkshake theory?
Replies: 58
Views: 21459

Re: Any believers in the dollar milkshake theory?

Taking advice from a hedge fund manager selling gold is much like asking any salesperson if you need what he/she is selling. A good starting point is to get your investment advice and buy your investment products from different sources. Some salespeople will recommend what is in your best interest but many won't. Hedge fund managers typically charge 2 percent of assets under management plus 20 percent of the profits per year. In my book, that's robbery without a gun.
by mlebuf
Fri Mar 22, 2019 1:32 am
Forum: Investing - Theory, News & General
Topic: The $4,026,858.95 Car or a Worry-Free Retirement?
Replies: 245
Views: 18879

Re: The $4,026,858.95 Car or a Worry-Free Retirement?

TropikThunder wrote: Thu Mar 21, 2019 11:38 pm
mlebuf wrote: Thu Mar 21, 2019 11:17 pm
Other keys to accumulating equity:
3. Marry and be a frugal spouse if you marry.
8. If it floats, flies or flirts, lease it. :D
How do you reconcile #3 and #8? I would think "marry" + "flirt" would be a wealth destroyer. :P
In #3 I wrote, "if you marry." #8 was intended for single people and as a joke.
by mlebuf
Thu Mar 21, 2019 11:17 pm
Forum: Investing - Theory, News & General
Topic: The $4,026,858.95 Car or a Worry-Free Retirement?
Replies: 245
Views: 18879

Re: The $4,026,858.95 Car or a Worry-Free Retirement?

It's hardly a secret that young Americans spend a lot of their earnings on cars, rent and credit. What's important is to not overspend on those items. A young person who saves at least 15 percent of their after tax income starting with the first paycheck and adheres to that habit over time will likely be fine at retirement. Put 6 months worth of living expenses in a bank savings account and invest the remaining savings into a two-fund US stock/bond index fund portfolio. Max-out tax deferred and Roth IRA contributions every year. Do those things, then buy whatever car and live whatever lifestyle you want and can afford. You'll be fine. Other keys to accumulating equity: 1. Get a good, low-cost education that will increase your earning power....
by mlebuf
Sun Mar 10, 2019 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: What are your personal experiences with downside of early retirement?
Replies: 95
Views: 20382

Re: What are your personal experiences with downside of early retirement?

I retired from my first career in academia in May 1989, and cut way back on my second career writing and speaking in June 1995. If there is a downside to retiring early, I have yet to find it. There is a downside to aging. Most of us tend to accumulate prescriptions and physicians with the passage of time but that is not necessarily work related. A good case can be made that the stresses of work accelerate aging for some depending on the person and the career. A combination of becoming financially independent and progressive income taxes convinced me to cut back on work and start smelling the roses. A small percentage of people live to work. They love their work so much that they can't imagine life without it. For those people, being able t...
by mlebuf
Thu Mar 07, 2019 1:30 pm
Forum: Personal Consumer Issues
Topic: Repair or Sell 2002 Avalon
Replies: 32
Views: 3593

Re: Repair or Sell 2002 Avalon

If you like the car, keep it. Otherwise buy a new/used car. I have an '02 Cadillac De Ville that has 103K miles on it. I bought new and get it repaired because I like the car. If I wanted another car today, the first car I would look at is a new Avalon. They did an update on the 2019 model and got a great review from "Consumer Reports."
by mlebuf
Tue Mar 05, 2019 3:00 am
Forum: Personal Consumer Issues
Topic: Why do you live where you live?
Replies: 134
Views: 12521

Re: Why do you live where you live?

1. No snow and ice.
2. 310 days of sunshine a year.
3. Only 8 inches of rain per year.
4. Low humidity.
5. Low crime rate in this part of the Valley.
6. Good restaurants.
7. Nice people.
8. Good roads.
9. Stable government.
10. Moderate cost of living.
11. Major airport.
12. All the benefits of a big city.
13. No hurricanes, blizzards, earthquakes or tornadoes.

The only negative is the summer heat, but I'll take that over winter hazards any day. With AC and low humidity, it's not really a problem for me. Moved here 23 years ago and it has exceeded my expectations.
by mlebuf
Wed Feb 20, 2019 11:49 am
Forum: US Chapters
Topic: Arizona Chapter
Replies: 139
Views: 50818

Re: Arizona Chapter

Mark,

Thank you for arranging another meeting. Will be there.
by mlebuf
Tue Feb 19, 2019 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need a degree?
Replies: 73
Views: 5965

Re: Do I need a degree?

With a 20-year track record in your field competing with college grads, you have done quite well. Spending all that time and effort at age 41 to get a 4-year degree seems like a very high price to pay in time and money for insurance. I say that as someone with a Ph.D. who went to grad school in my mid 20's. Getting a degree in today's world is no guarantee of employment, although the odds favor those with one. While in grad school I noticed that some guys who were 40 plus had to study a lot harder than us youngsters while a few older students were some of the best. As a professor, I noticed that full-time older students were generally well above average because they were more mature and committed than most undergrads. Perhaps someone more q...
by mlebuf
Mon Feb 18, 2019 10:55 pm
Forum: Personal Consumer Issues
Topic: First thing(s) you'd do when you achieve financial independence?
Replies: 73
Views: 7554

Re: First thing(s) you'd do when you achieve financial independence?

When I first realized that I was financially indpendent, I thought to myself, "If you ever go broke you will have taken stupidity to a new level." That was 27 years ago. So far, so good. Becoming FI and maintaining FI are not the same thing. Many a millionaire has gone broke.
by mlebuf
Fri Feb 15, 2019 1:10 pm
Forum: Personal Consumer Issues
Topic: What are your best retirement years?
Replies: 50
Views: 5661

Re: What are your best retirement years?

My best years began when I took an early retirement from Academia at age 47 in May 1989. Every year since has been a good year. I have a few health issues that I did not have then but nothing that prevents me from enjoying life. If you have your health you are wealthy. To be continued...
by mlebuf
Wed Feb 13, 2019 6:05 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: 3 Factor Investing Myths
Replies: 49
Views: 6461

Re: Larry Swedroe: 3 Factor Investing Myths

Scott Burns just published an article comparing the returns of a 3 fund portfolio with a simple 2 fund US index portfolio over the last 30 years. The 3 fund portfolio got smoked.

https://couchpotatoinvesting.com/the-lo ... portfolio/
by mlebuf
Tue Jan 29, 2019 12:56 am
Forum: Personal Finance (Not Investing)
Topic: Career Decision - Asking for help.
Replies: 30
Views: 3571

Re: Career Decision - Asking for help.

Hi Pysia, Given your description of the circumstances, I'd say it's time to go job shopping. Recently there was an article in "The Wall Street Journal" about how MBA's can double their salaries by changing career fields. https://www.wsj.com/articles/looking-to-double-your-salary-try-an-m-b-a-1544187623 Your description of current job demands make it seem like your employer wants to buy your soul for $100K per year. If that's the case, you will be working very hard to make unmotived relatives rich. Is that what you want? You are still plenty young enough to try other positions. If the first change doesn't work, learn from it and try another. Life is filled with second chances. Eventually you will find a good fit or you may decide t...
by mlebuf
Fri Jan 25, 2019 10:13 pm
Forum: US Chapters
Topic: Happy Birthday Taylor! 96 years young!
Replies: 77
Views: 9239

Re: Happy Birthday, Taylor!

Happy birthday, Taylor!

Your knowledge, kindness, integrity and leadership skills molded this forum into the success that it is. To paraphrase our late friend, Jack Bogle, I want to be like you when I grow up. Your enormous contributions have made an enormous, positive difference to the many people who read, learn and participate here. Keep smiling, keep posting, keep sailing and stay the course.
by mlebuf
Fri Jan 25, 2019 1:11 am
Forum: Personal Consumer Issues
Topic: Victim of my own success! How to deal with a complex life?
Replies: 103
Views: 11211

Re: Victim of my own success! How to deal with a complex life?

Hi knightrider, From the situation you describe, you seem to have a time management problem. I know something about the subject. The first book I wrote was titled, WORKING SMART: "How to Accomplish More in Half the Time." The publishers, Mc-Graw-Hill and Warner printed over 400,000 copies. Nightingale-Conant published an audio version of the book on tape and the book was published in a bunch of foreign languages. The book is out of print although used copies are out there and I even found a few reviews on Amazon. https://www.amazon.com/Working-smart-accomplish-more-half/dp/0446329991/ref=sr_1_1?ie=UTF8&qid=1548397388&sr=8-1&keywords=working+smart#customerReviews The book was first published in 1979 and that was a very ...
by mlebuf
Thu Jan 17, 2019 3:14 am
Forum: Investing - Theory, News & General
Topic: John Bogle has died at age 89
Replies: 856
Views: 81237

Re: John Bogle has died at age 89

The enormous numbers of tributes on this thread say all we need to know about how much Jack Bogle's life and work meant to us all. While we miss him terribly, let's all be grateful that he came our way. The lives of millions are better and future generations yet to be born will benefit from the mission of John Clifton Bogle.
by mlebuf
Wed Jan 16, 2019 1:50 am
Forum: Investing - Theory, News & General
Topic: When would you stop being a Boglehead?
Replies: 95
Views: 9982

Re: When would you stop being a Boglehead?

When I assume room temperature.
by mlebuf
Fri Jan 11, 2019 6:30 pm
Forum: Personal Investments
Topic: Clueless About Personal Finance At Age 30: Grew Up Poor, Now Make $400K+. Have No Clue What To Do With Money.
Replies: 29
Views: 6647

Re: Clueless About Personal Finance At Age 30: Grew Up Poor, Now Make $400K+. Have No Clue What To Do With Money.

Welcome! You have come to the right place and are reading good sources. Develop the habit of saving a healthy percentage of your income, invest it in low cost mutual funds, leave it alone, let the power of compounding work its magic and you will become wealthy. Begin by maximizing the amount you can save/invest in tax deferred accounts. With a $400K annual income you may be able to retire much earlier than most. My parents were not savers either and reached retirement with no assets. Sometimes by watching our parents we learn what to do and what not to do.

P.S. - Forget about keeping up with the Joneses. The Joneses are broke.
by mlebuf
Wed Jan 09, 2019 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Genworth premium increase
Replies: 23
Views: 2588

Re: Genworth premium increase

We have a similar policy with Genworth. In 2017 we faced several options much like you described. Our original policy was lifetime. However if we reduced the length of the policy to 5 years, there would not be a rate increase. We opted to reduce the length to 5 years.

I look at LTC insurance in much the same way I look at carrying homeowners insurance for a mortgage-free home. If our house were destroyed it would be a financial castrophe and that's why we insure it. If you have enough wealth to self-insure against the need for LTC, you can drop the policy. If you have very little in the way of assets, Medicaid will pay for nursing home care. It won't be the best but it won't cost you anything either.
by mlebuf
Wed Jan 02, 2019 9:32 pm
Forum: Personal Investments
Topic: Delaying retirement just to help adult children
Replies: 66
Views: 7996

Re: Delaying retirement just to help adult children

Stinky wrote: Wed Jan 02, 2019 9:11 pm As I was raising my children, I told them that a primary goal of mine was that they would grow up to be self-sufficient adults. I’m pleased to say that all three of them achieved that goal soon after college.

If I had a child that was mentally or physically handicapped, I would continue to provide for them. But other than that, I’d say that the children should stand on their own two feet. Parents should retire when they are ready to.
+1
by mlebuf
Wed Jan 02, 2019 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: How to find a quality Estate Planning Attorney?
Replies: 31
Views: 4822

Re: How to find a quality Estate Planning Attorney?

I asked a Boglehead friend who was in law school at the time if he had a recommendation for an estate-planning attorney. We live in Arizona. He recommended an excellent estate-planning attorney who teaches part-time at AZ State and donates his salary to the university. I was very impressed with his integrity, reasonable fee and the manner in which he conducts working with clients. Here is the procedure in a nutshell: 1. He meets with a potential client for no charge to determine their needs. If he can do the work and feels comfortable with their requests, he quotes them an all inclusive, flat fee. They are under no obligation to accept. 2. If the client accepts, a first draft of documents is emailed to the client to make any revisions or re...
by mlebuf
Sun Dec 23, 2018 7:42 pm
Forum: US Chapters
Topic: My Christmas Present To You
Replies: 109
Views: 17638

Re: My Christmas Present To You

Hi Taylor,

Merry Christmas from Elke and me. Great to know that you're still cruising. This one should be special.
by mlebuf
Sat Dec 15, 2018 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Is this a good time to start paying extra on the mortgage?
Replies: 32
Views: 2812

Re: Is this a good time to start paying extra on the mortgage?

P.S. - Thank you, Taylor for that great post. It is one of your best.
by mlebuf
Sat Dec 15, 2018 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Is this a good time to start paying extra on the mortgage?
Replies: 32
Views: 2812

Re: Is this a good time to start paying extra on the mortgage?

Hi fortfun, I suspect that a 3 percent home mortgage rate is the lowest rate you will see for the rest of your life. The bank would love for you to pay that off. Even without a home interest deduction, 3 percent is like free money when inflation is taken into account. I would be in no hurry to pay it off. I believe your overall asset allocation is more important than your mortgage. Keep 2 years worth of withdrawals in cash, and 5-10 years of withdrawals in short/intermediate term bond funds. That should be more than ample to enable your stock funds to endure and recover from a very bad bear market. Just one man's opinion. In 2002, long before there was bogleheads.org, Taylor made a great post about the worst bear market. I made a copy and k...
by mlebuf
Wed Dec 12, 2018 2:53 pm
Forum: Investing - Theory, News & General
Topic: What Happened to you during the Financial crisis of 2007–2008
Replies: 249
Views: 26921

Re: What Happened to you during the Financial crisis of 2007–2008

In 2007 I turned 65 and had been immersed in the Boglehead approach to investing for 10 years. I was prepared for the dot com bubble of 2000, never owned tech stock funds and rode it out. When the 2007-'08 crash came, I was 55/45 stocks/bonds. Still took a big hit but stayed the course and dialed allocation back to 50/50. The current plan is to keep that asset allocation indefinitely. One of my favorite Jack Bogle quotes is: "The stock market is a giant distraction from the serious business of investing."