Bogleheads.org

kleiner

This may sound strange but I did not even realize that I had a "number" until about 2017 :happy My plan was to keep working as long as possible - I was very well paid in software development. However, after some corporate shuffles, my job became progressively more unpleasant. I then starte...

kleiner

Whats the current wisdom on a good build for playing MS Flight Simulator? Can anyone give me a pointer? Given the shortages worldwide, I probably won't be able to start the build for a few months yet but I'd like to start collecting the easier parts at least.

kleiner

We have two Toyotas in our household, both of them hybrids. I just retired and barely drive around much. Wife's company is still in remote work mode. At this point, I could buy pretty much any reasonable car on the market for cash with a negligible impact on our finances. And yet I have absolutely n...

kleiner

Has anyone crunched their numbers on retirement expenses. I'm asking a contrarian question of if you're earning $100k++/yr now, do you need $100k++/yr(adjusted for inflation) at retirement? Right now, my base expenses are about $30k/yr, and with discretionary it goes to $45k/yr. Everything beyond $...

kleiner

My question is will this affect Quicken access to Fidelity accounts? i.e. will I have to access the VIP software and enter the token in Quicken or is this only needed to access via the Fidelity website. I see. Sorry but I don't use Quicken so don't know the answer. 10 seconds later: I guess Google ...

kleiner

mindboggling wrote: ↑Thu Dec 31, 2020 6:17 am Retired here. For me, everything in a brokerage account is long-term. Short-term is in online savings account or credit union. I also have I-bonds that can be tapped.

Same here - I consider all stock-based investments to be long term.

kleiner

Not much to add to what the others have said - its a fairly standard approach to two-factor authentication. The VIP app runs on your phone and is independent of the computer on which you access the Fidelity website. Incidentally, if you use Quicken, it can access Fidelity it can access Fidelity dire...

kleiner

I bought a $1000 worth of Apple in 1998 and still own those shares - does that count?

kleiner

I did not bother submitting FAFSA for either child for exactly the same reasons as mentioned by the OP. Both income and savings are far too high and it was just not worth the effort. I would prefer that financial aid go to deserving candidates.

kleiner

Just caught up reading 9 pages of this thread. We somehow skipped 529s altogether and saved up for education (steady $1000 per month in index funds) in post-tax accounts. We always maxed out all of our 401Ks so retirement savings was never affected. As it happens, we never had to touch this "co...

kleiner

I used to be a customer of Sharebuilder for many years until it was finally shut down in 2018 by Capital One :annoyed For those who many not be familiar Sharebuilder was a special brokerage aimed at long-term buy-and-hold retail investors. Sharebuilder had this wonderful automated purchase mechanism...

kleiner

goodenyou wrote: ↑Mon Dec 07, 2020 11:45 pm The Millionaire Next door is so banal. I am going to write the sequel “The Boglehead Next Door”.

I would gladly buy such a book

kleiner

In our household, we have accumulated our money (net worth over $5.5M) by steady index fund investing over a period of nearly 30 years. I've read the book and, while I found it interesting, I found that it describes an entirely different world than mine! Most of the people I know have made similar a...

kleiner

It may seem like a bit of an overkill but I'm getting a Tesla Power Wall as backup for the whole house (we already have solar panels). One of the use cases for the Powerwall is using it as a backup for our sump pump.

kleiner

I've run several retirement calculators, and while all seems in order, I am just looking for reassurance/confirmation. As I indicated multiple times above, retirement for me has finality to it given my age and profession. And I didn't just ask "if" I can retire, but also if I'm overlookin...

kleiner

In my case I progressively felt more secure as we hit the following milestones: - Accumulating $1M in 401k - Having enough money to pay for kids college - Paying off the mortgage - Having five years of living expenses set aside in liquid investments It took a while for feeling of security to catch u...

kleiner

His expenses are higher than that, I don't see income tax in that number and I don't see health insurance either. Even so, he could have retired at anytime prior to when he did. Remember, his goal was $2MM and a paid off house and even after the humblebrag of superceding the original target there w...

kleiner

You are in late 50s and worked in machine learning/AI. I am wondering how long have you been in machine learning/AI. Are you from academia? I was wondering if anyone would pick up on that :-) I have one of the earlier PhDs in machine learning - got in the 1990s. For the first couple of decades I gr...

kleiner

I just read through 26 pages (!) of this thread as it is of great interest to me because I just retired a couple months ago. I was beginning to second-guess myself a bit but reading through everyone else's targets has me convinced that I made the right call (to retire that is). I'm in my late 50s, w...

kleiner

000 wrote: ↑Thu Nov 19, 2020 12:11 am SPXT excludes some of them.

Thanks - this is exactly what I was looking for!

kleiner

We are currently with about $5.5M. How we got here: - Worked in relatively high paying jobs for many years, wife in pharmaceuticals and myself in advanced software research. We both started work in the early 90s after finishing our PhDs, thankfully with no student debt but close to zero savings. All...

kleiner

I started post-tax index fund investing as far back 1994 but I did not make my investments automatic until 1999. However, after 199, I have been making monthly automated investments without a break. But there are two things that I wish I had done: I wish I had started automated investments sooner. I...

kleiner

1) what age did you hit your first million in your retirement portfolio? 2) what age did you start? 3) was some of this savings inherited? self made? combination of both? Studies show that around 75% millionaires are self made; took about 2-3 decades to hit millionaire mark I understand many of us ...

kleiner

I had absolutely no idea how much I would make in my career. The actual amount I earned vastly exceeded my expectations. It's not over and I expect a huge nose dive at any time (old guy in IT is uncommon).... I never bothered to project, just did what I could along the way. Made some mistakes and s...

kleiner

I had absolutely no idea how much I would make in my career. The actual amount I earned vastly exceeded my expectations.

kleiner

$2M is the point where things started to look much more comfortable for me too. Would you mind sharing how crossing each Million felt for you psychologically ? Before I hit 1M, I always thought of 2.5M as my terminal wealth, I,e NW on the day I retire in the future. Crossing the first 1M in my thir...

kleiner

1/1/09: -$210K (started working this year) 1/1/10: -$120K 1/1/11: -$35K 1/1/12: $150K 1/1/13: $300K 1/1/14: $510K 1/1/15: $670K 1/1/16: $740K 1/1/17: $1.1M 1/1/18: $1.2M 1/1/19: $1.4M 1/1/20: $1.8M 8/11/20: $2.4M Have been FI in my mind for a while, but just now starting to feel rich. Nice progress...

kleiner

Using various FIRE calculators in the middle of 2019, I came to the conclusion that I had comfortably exceeded my "number" by a wide margin. I then immediately quit my well-paying but exceedingly boring job at a tech megacorp, took some time off and joined a startup working in a much more ...

kleiner

I feel you. If you want to learn to hate the thing you love, do it for a living. I think that has happened to me. I think a lot about that when I see professional poker players or airline pilots. Like do they feel the same way? How fun is it to pilot a Southwest 737 from Tampa to Baltimore and Prov...

kleiner

I've worked for almost thirty years in software, mostly in research but also some product development. I have a PhD in CS machine learning, probably one of the earliest ever. My joke has always been that I have been paid very handsomely, basically for knowing some linear algebra and basic calculus, ...

kleiner

There’s a reason why they say that a salary is like a drug and employees are like addicts This is so true! No matter how much money you have in the bank, you absolutely feel a need for that bi-monthly jolt of cash. Its taken me a year to get over this fear so I can give notice to retire in a couple...

kleiner

I have some eerie similarities with the OP's situation. I am in my late 50s with savings of about $5M invested plus a fully paid off house and with no other debt. Also, exactly like the OP, my wife plans to keep working - in fact we have always been on her health insurance as my company's plan was n...

kleiner

The topic of multi year guaranteed annuities (MYGAs) has been discussed several times recently. See the thread below for a deeper discussion than what is the thread you posted to. Note especially gjlynch17’s post near the top of that thread. https://www.bogleheads.org/forum/viewtopic.php?f=1&t=...

kleiner

Apologies for bringing this thread back to life but I am beginning to think that deferred fixed annuities may be a good option for me. I have nearly $800k sitting in savings accounts (out of a net worth of about $5 million). I will very likely need about $300k for college expenses starting next year...

kleiner

The book, The Millionaire Next Door , took a survey of millionaires. They asked the millionaires if they tracked their net worth a. Yearly b. Quarterly c. Monthly d. Not at all If I recall the trend, almost all answered a, b, or c. The people who answered "a" had the least of the average ...

kleiner

I have 2 years emergency fund. I can sleep like a baby at night. Also, I use the eFund to do various bank bonuses. So effective APY is usually much higher than even the best bank/CD rates out there. I'm exactly the same - having several years of expenditures in cash helps me sleep better at night f...

kleiner

Two words: business class :D (though only occasionally) Other than this, I’ve promised myself rewards at various milestones, but to date I’ve just never really pulled the trigger, instead I just set a new higher goal. That said, I would allow for myself to buy the promised toy if the right deal/opp...

kleiner

The answer to your question is definitely yes. My daughter starts college next year and we have set aside the money for that in a separate savings account. If you know that you have a big expense in the immediate future, nothing wrong in setting aside the money for that.

kleiner

We completely skipped 529s and simply saved college money in a regular post-tax brokerage account. Our reasoning was that if things went badly (say wife or I lost a job), this would become regular savings. As it happens, we never had to dip into the savings and were able to pay for college out of cu...

kleiner

indexlover wrote: ↑Tue Jun 02, 2020 12:47 pm Is your house included in the networth ? Good job on your savings and your disciplined investments.

Thanks! I have not included the value of my house in my net worth. The house is probably worth about $600k at this point.

kleiner

Beautiful. Bravo. Would you mind sharing your investment strategy? Thanks for your complement, but this is mainly due to slow and steady investing in index funds. In addition to maxing out our 401ks right from the start, we have been great believers in automated monthly investments. We started with...

kleiner

Very impressive Kleiner. Curious if u have kids and also high or low cost of living area ? We do live in a HCOL area, in New Jersey (a suburb of NY City). We have two kids, older one has just finished college while the younger one will be starting college next year (money for that is separate and I...

kleiner

Hi Everyone, I just joined this forum so I thought I would begin with a rough view of our progression in our invested net worth. December 2005 $604,000 Nov 2006 $760,000 May 2009 $873,000 December 2010 $1,150,000 Currently $4,700,000 I started work in the early 1990s but I don't have the numbers for...

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