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by wrongfunds
Fri May 24, 2019 9:33 am
Forum: Investing - Theory, News & General
Topic: just a general comment about "too conservative" investors here
Replies: 142
Views: 12563

Re: just a general comment about "too conservative" investors here

.. To figure out a SWR you have to get to a zero percentage failure - or as near as dammit. .. Of all the people on this board, I thought you would be the last person to make this claim. Under which realistic situations, looking at rear view mirror would you be able to claim that "zero percent fail...
by wrongfunds
Fri May 24, 2019 7:13 am
Forum: Investing - Theory, News & General
Topic: just a general comment about "too conservative" investors here
Replies: 142
Views: 12563

Re: just a general comment about "too conservative" investors here

... Our caution, and our emphasis on plain vanilla stock-and-bond investing, comes from 1). seeing the new, the shiny, the exotic go phutt ... and taking people's lives with them. Once you lose that "play money", that capital, you lose all its future compound returns - that could have been generati...
by wrongfunds
Thu May 23, 2019 5:07 pm
Forum: Investing - Theory, News & General
Topic: How to "lie" with Personal Finance
Replies: 28
Views: 4821

Re: How to "lie" with Personal Finance

I think you need to understand that even 200% success ratio on the historical data gives you zero guarantee in the future if that is what you are after. I admit I don't understand that because I can't fathom what a 200% success ratio is! Do I win twice as often as I play? How? Perhaps the point is ...
by wrongfunds
Thu May 23, 2019 12:11 pm
Forum: Investing - Theory, News & General
Topic: How to "lie" with Personal Finance
Replies: 28
Views: 4821

Re: How to "lie" with Personal Finance

I don't like calling these fallacies "lies", but my own peeve in this arena is: Using your expected longevity to determine plan length. The expected longevity is just an average, so many of us (being conservative in terms of running out of money) would want to go out to something like the 25th perc...
by wrongfunds
Thu May 23, 2019 12:04 pm
Forum: Personal Investments
Topic: Retirement goal seems far away
Replies: 25
Views: 1959

Re: Retirement goal seems far away

Looking at some of OP's other posts, he is aiming to have at least $30 Million dollars in next 10 years.

Can I suggest aiming for $15M in 5 instead?
by wrongfunds
Tue May 21, 2019 10:52 am
Forum: Personal Investments
Topic: Is an emergency just mental accounting?
Replies: 61
Views: 4550

Re: Is an emergency just mental accounting?

For me, once I put something in my "retirement" bucket, I don't like to withdraw from it. ... So yeah, maybe just mental accounting, but it works. Once money goes into the "retirement" vault, it's not coming out until retirement. Well, to be real BH, it means that money is not coming out (ever)! Ho...
by wrongfunds
Sun May 19, 2019 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage in Retirement
Replies: 73
Views: 5515

Re: Mortgage in Retirement

For the sake of an example with numbers, I tested FIRECalc with mortgage payment as a fixed expense without inflation adjustment. Mortgage: $100,000 Interest rate: 3.44% Duration: 15 years Annual payment: $8,645.50 Inflation adjustment: 0% FIRECalc result: FIRECalc looked at the 134 possible 15 yea...
by wrongfunds
Thu May 16, 2019 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Do you reward yourself for achieving a financial goal?
Replies: 107
Views: 6386

Re: Do you reward yourself for achieving a financial goal?

mptfan wrote:
Thu May 16, 2019 12:25 pm
Darth Xanadu wrote:
Thu May 16, 2019 11:26 am
mmmodem wrote:
Thu May 16, 2019 10:15 am

When we crossed 3 commas last year, I just relaxed and breathed a sigh of relief.
:shock: I should hope so!
Indeed. I would be relaxed long before I reached my first billion.
I suspect there is some confusion with 8 digits versus 3 commas; a very likely mistake as we all do that!
by wrongfunds
Wed May 15, 2019 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Do you reward yourself for achieving a financial goal?
Replies: 107
Views: 6386

Re: Do you reward yourself for achieving a financial goal?

Well, it depends. Do you punish yourself when you get kicked out from the "club" when the market goes down which they always do? What kind of punishment do you like?
by wrongfunds
Tue May 14, 2019 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: How much can parents gift children in 2019 tax free?
Replies: 38
Views: 4670

Re: How much can parents gift children in 2019 tax free?

That's exactly why one should plan on having well in excess of $22M estate; that way you will NOT worry about cliffs. I think DoubleTomato is getting close to that number :-)
by wrongfunds
Tue May 14, 2019 7:39 am
Forum: Personal Finance (Not Investing)
Topic: W-2 earner looking to lower effective tax rate
Replies: 28
Views: 3391

Re: W-2 earner looking to lower effective tax rate

Overall, my "effective tax rate" was 33%
Is the implication that OP is paying $100K of federal income tax on his $300K (salary-401k contribution)? That is hard to fathom. On the other hand if he is saying, he is paying $1M of federal tax on his $3M income, I would buy that.
by wrongfunds
Mon May 13, 2019 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: How much can parents gift children in 2019 tax free?
Replies: 38
Views: 4670

Re: How much can parents gift children in 2019 tax free?

I suspect when push comes to shove, there is a fundamental difference between "spending" "future inheritance" versus "giving it as raw cash". Would there ever be an issue when the fully paid for first class African Safari for your extended family comes under "gift" classification?
by wrongfunds
Mon May 13, 2019 3:01 pm
Forum: Personal Consumer Issues
Topic: Car lost acceleration
Replies: 111
Views: 5764

Re: Car lost acceleration

wow; I am shocked, shocked to see this topic has NOT been locked!

When I need financial advice, I always ask my mechanic. Aren't they the most qualified?
by wrongfunds
Mon May 13, 2019 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: How much can parents gift children in 2019 tax free?
Replies: 38
Views: 4670

Re: How much can parents gift children in 2019 tax free?

what do you mean by "minor" child? I don't know any "minor" attending medical school. Do you?
by wrongfunds
Sun May 12, 2019 8:52 pm
Forum: Personal Finance (Not Investing)
Topic: How much can parents gift children in 2019 tax free?
Replies: 38
Views: 4670

Re: How much can parents gift children in 2019 tax free?

When parents pay for a child's wedding and receptions and honeymoon, is that considered a "gift" to the child? Or only the money given for the down payment to the child will be considered "gift"? Many of the weddings that I have attended are multiple hundred thousand dollar extravaganza. Do they ge...
by wrongfunds
Sun May 12, 2019 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: How much can parents gift children in 2019 tax free?
Replies: 38
Views: 4670

Re: How much can parents gift children in 2019 tax free?

When parents pay for a child's wedding and receptions and honeymoon, is that considered a "gift" to the child? Or only the money given for the down payment to the child will be considered "gift"? Many of the weddings that I have attended are multiple hundred thousand dollar extravaganza. Do they get...
by wrongfunds
Sun May 12, 2019 8:24 am
Forum: Personal Consumer Issues
Topic: Summer Vacation UK vs. Spain
Replies: 41
Views: 2794

Re: Summer Vacation UK vs. Spain

If you go to UK in summer it should be completely deserted as everybody from there goes to vacation in Spain.
:twisted:
by wrongfunds
Sat May 11, 2019 3:55 pm
Forum: Personal Investments
Topic: I Don't See Great Benefits to ROTH Conversion for Us. Help Me
Replies: 52
Views: 5718

Re: I Don't See Great Benefits to ROTH Conversion for Us. Help Me

I suggest looking at the following example I did for member Small Law Survivor. This was done under the old tax laws, before the tax rates and space in each bracket changed. Here is the question:- Since the tax rate actually went down, do you believe it was the right decision to do the conversion a...
by wrongfunds
Sat May 11, 2019 2:46 pm
Forum: Personal Consumer Issues
Topic: Hearing getting bad, which Hearing Aids would you recommend ??
Replies: 36
Views: 2388

Re: Hearing getting bad, which Hearing Aids would you recommend ??

Right now, we're looking at whether the newer ones have compelling improvements. What we notice is the higher-end companies seem to be talking more about linking to phones/TV, etc, rather than documenting any advances in actual hearing quality. That is, more cheap eye candy rather than evidence of ...
by wrongfunds
Wed May 08, 2019 7:00 am
Forum: Personal Investments
Topic: I will inherit 2Mil What to do with it?
Replies: 54
Views: 8129

Re: I will inherit 2Mil What to do with it?

Did people just glance over the fact that OP is 70 years today?
by wrongfunds
Tue May 07, 2019 9:40 am
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 398
Views: 98208

Re: If your networth is over $3 million, how did you do it?

^I agree with that. But let inflation work its magic, so that $8MM will be the new $3MM. Are we there yet? I think earlier you had said that the $3million is the new $1million, so by inference, the $8million is the new $1million, correct? But I don't agree with you. I believe $5MM is the new $1MM.
by wrongfunds
Sat May 04, 2019 11:23 am
Forum: Personal Finance (Not Investing)
Topic: 10 minutes worth $300K?
Replies: 61
Views: 8399

Re: 10 minutes worth $300K?

My comment reflected more about our own life than yours! Even though we are happy with our choice of the town and the house and raised two wonderful and now self-sufficient college educated kids, even after twenty years of bliss, I still occasionally hear "because of you, we did not buy that other h...
by wrongfunds
Fri May 03, 2019 5:09 pm
Forum: Personal Consumer Issues
Topic: Need help with car 1995 Chevrolet Cavalier service engine light comes on after it runs 20-30 min.
Replies: 21
Views: 1336

Re: Need help with car 1995 Chevrolet Cavalier service engine light comes on after it runs 20-30 min.

I am so happy to see somebody is thinking that he can get help fixing his 1996 Cavalier on this forum where every other topic talks about meager $4M in investible assets and barely making on $800K per year of income!
by wrongfunds
Wed May 01, 2019 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: If FIRECalc shows 100% success rate, what holds you back from retiring?
Replies: 126
Views: 11579

Re: If FIRECalc shows 100% success rate, what holds you back from retiring?

I think people who have never gone through any statistical courses seem to be very susceptible to this type of belief. If you have little bit of mathematical background, constant discussion (in this forum) and the calculation done with 3 digits after the decimal point become nothing but endless ente...
by wrongfunds
Mon Apr 29, 2019 11:09 am
Forum: Personal Consumer Issues
Topic: Xenon headlights w/ automatic high-low beam?
Replies: 7
Views: 624

Re: Xenon headlights w/ automatic high-low beam?

HOWEVER, if you do have automatic headlights, then they do turn on and off needlessly when you pull the car in the garage and pull out. You really don't want HID to be doing that. So I do not use automatic headlights in my car.
by wrongfunds
Mon Apr 29, 2019 11:03 am
Forum: Personal Finance (Not Investing)
Topic: 10 minutes worth $300K?
Replies: 61
Views: 8399

Re: 10 minutes worth $300K?

This seems like a false choice. Both options are miserable. What does a 15min commute look like? Not an option due to DW commute to work, and schooling options. There is no dilemma here at all. The way you have framed the original question obviously tells me that you do not want to put the extra $3...
by wrongfunds
Mon Apr 29, 2019 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Taxes: marginal rate now vs effective rate in retirement
Replies: 198
Views: 9437

Re: Taxes: marginal rate now vs effective rate in retirement

Can somebody explain the AMTI part of this chart? At what joint income level, AMTI comes in to play?
by wrongfunds
Fri Apr 26, 2019 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: [2018 tax return - How does it compare to previous years?]
Replies: 441
Views: 30784

Re: [2018 tax return - How does it compare to previous years?]

what is the current going timeline for return processing? this year, the IRS has been sitting on my return for over couple of weeks. usually it had been less than a week in the past few years after electronically filing the return near the end of the deadline. the usual assurance that over 90% of th...
by wrongfunds
Fri Apr 26, 2019 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Getting Spouse On Board With Saving
Replies: 41
Views: 3946

Re: Getting Spouse On Board With Saving

But commenting on it is like touching the 3rd rail here. There are enough "charities" which take majority of the cut for the people who run them before the money filters to the needy ones. Once again, this is a taboo subject and I need to tread lightly.
by wrongfunds
Fri Apr 26, 2019 8:01 am
Forum: Personal Investments
Topic: 2,000,000. Now what?
Replies: 45
Views: 9353

Re: 2,000,000. Now what?

RobLyons wrote:
Fri Apr 26, 2019 7:36 am
Wow, Congrats!

You must have been investing a ton every year to now have $2M in 9 short years!?

I would work only as much as I wanted to. Sometimes starting a business requires a lot of hours, is that what you want to do?
Or may be, just may be, OP started with 1.5M at age 21 ??
by wrongfunds
Fri Apr 26, 2019 7:58 am
Forum: Personal Consumer Issues
Topic: Wifi extenders vs Mesh network
Replies: 54
Views: 3941

Re: Wifi extenders vs Mesh network

Even if you could have single router with enough power to cook your dinner with its radiation, that only means the clients can "see" the router from the other end of the house but can the router "see" the client back? It is two way communication and both end needs to increase the power to have great...
by wrongfunds
Thu Apr 25, 2019 9:23 pm
Forum: Personal Consumer Issues
Topic: Wifi extenders vs Mesh network
Replies: 54
Views: 3941

Re: Wifi extenders vs Mesh network

When we built our house, I had it fully pre-wired with Cat5 wiring in every room and a switch in the basement. So far last 15 years, I have been using routers, access points, repeaters, extenders to get my moneys worth out of that built-in wiring. Couple of weeks ago, I finally decided to try Orbi f...
by wrongfunds
Thu Apr 25, 2019 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: If FIRECalc shows 100% success rate, what holds you back from retiring?
Replies: 126
Views: 11579

Re: If FIRECalc shows 100% success rate, what holds you back from retiring?

Couple of observations:- - Surprisingly very few people seem to consider that their expense estimates could be wrong by order of magnitude if bad things were to happen aka say runway inflation. - Surprisingly lot more people think about stock market going sideways or dropping 50% or more though. - S...
by wrongfunds
Thu Apr 25, 2019 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 313
Views: 44147

Re: KF's Worst Case Retirement Plan [KlangFool's]

KlangFool wrote:
Thu Apr 25, 2019 6:07 pm
wrongfunds wrote:
Thu Apr 25, 2019 5:15 pm
Question to KF

Once you reach 1.5M, what would be your next target? 1.7M ?
wrongfunds,

Work less or retire.

KlangFool
I wish the best and hope you reach your number soon and update this topic.
by wrongfunds
Thu Apr 25, 2019 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 313
Views: 44147

Re: KF's Worst Case Retirement Plan [KlangFool's]

Question to KF

Once you reach 1.5M, what would be your next target? 1.7M ?
by wrongfunds
Wed Apr 24, 2019 8:49 am
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 313
Views: 44147

Re: KF's Worst Case Retirement Plan [KlangFool's]

I thought that once past 2nd bend point, the additional extra year of working hardly increases the benefit amount but before reaching the 2nd bend point that there is substantial increase in the benefit amount. Is that wrong assumption?
by wrongfunds
Tue Apr 23, 2019 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 313
Views: 44147

Re: KF's Worst Case Retirement Plan [KlangFool's]

In step (B), you need to adjust each years Soc Sec income by the current wage index for that year. This adjust wages to today's dollars. marcopolo, You could do that for better accuracy. But, if you cross the 2.3 million, it is without question that you had crossed the second bend points. KlangFool...
by wrongfunds
Fri Apr 19, 2019 11:33 am
Forum: Investing - Theory, News & General
Topic: Why diversification is not a viable strategy?
Replies: 252
Views: 13418

Re: Why diversification is not a viable strategy?

I can't help but laugh at some of the stuff mentioned here. 25% in gold? Where do you keep it? I mean assuming you have total assets at one million, the $250,000 worth of gold is stored under your mattress? Are you keeping it in a bank safe deposit locker? If so, you think you will be able to get ac...
by wrongfunds
Wed Apr 17, 2019 10:26 am
Forum: Personal Consumer Issues
Topic: Luxury car recommendations?
Replies: 107
Views: 9403

Re: Luxury car recommendations?

Do you know what would be the best part? The process of deciding what you want. You have the money and you are not pressed to buy. Go and test drive as many cars as you can within your budget. Once you have short listed them, ask about specific cars. Understand that once you actually make the purcha...
by wrongfunds
Wed Apr 17, 2019 8:38 am
Forum: Personal Consumer Issues
Topic: How to fix jerky images on streaming TV?
Replies: 29
Views: 1612

Re: How to fix jerky images on streaming TV?

Only on BH somebody will recommend a $200 device to fix problems with a $35 device.
by wrongfunds
Tue Apr 16, 2019 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 790
Views: 107094

Re: How much money do you want to retire?

Opinions vary...
Can you explain your comment? I did not get it.
by wrongfunds
Tue Apr 16, 2019 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Are RMDs that bad if you're not an over-saver?
Replies: 139
Views: 13333

Re: Are RMDs that bad if you're not an over-saver?

I thought it would be prudent and have this discussion with my spouse especially the part about the eventual and unfortunate part of falling out of joint filing. Being an engineer, I thought the obvious solution would be something to aspire for and when I told that to my spouse, she was very very mi...
by wrongfunds
Sun Apr 14, 2019 8:16 pm
Forum: Personal Consumer Issues
Topic: Talk me in/out of $35k Tesla Model 3
Replies: 286
Views: 18879

Re: Talk me in/out of $35k Tesla Model 3

OP bought his car and is having fun with it. The usual short sellers are still going very strong as expected. One of them alluded that he is actual an i3 driver although I am having hard time believing that nugget as it came out of nowhere. I had to parse that allusion few times to make sure I was r...
by wrongfunds
Sat Apr 13, 2019 11:59 am
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 790
Views: 107094

Re: How much money do you want to retire?

I am reading this topic after taking 6 months hiatus from this forum. Things are exactly still the same. I still want 50% more than what I have before considering retirement. I still do not want to retire at the top of the market and there is no way I will retire when I am taking a blood bath in the...
by wrongfunds
Fri Apr 12, 2019 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Unpleasant surprise 2018 Federal Tax - high level overview?
Replies: 114
Views: 16339

Re: Unpleasant surprise 2018 Federal Tax - high level overview?

Thanks for the explanation! I know what is high income. When it is more than I make, then it is higher income :-)
by wrongfunds
Fri Apr 12, 2019 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Unpleasant surprise 2018 Federal Tax - high level overview?
Replies: 114
Views: 16339

Re: Unpleasant surprise 2018 Federal Tax - high level overview?

Our income is so high that we pay 0% tax on qualified dividend income. Can you explain this? Going through the Turbo Tax worksheets and forms, most places it was not even showing the portion which was entered as qualified dividends. They were all lumped together in its calculations in almost every ...
by wrongfunds
Thu Apr 11, 2019 8:43 am
Forum: Personal Investments
Topic: High Federal Taxes this year: Tips on reducing taxes, particularly of short-term investments
Replies: 52
Views: 4420

Re: High Federal Taxes this year: Tips on reducing taxes, particularly of short-term investments

I am surprised that OP is not getting hit with the penalty if he underpaid by $17.5K. What criterion IRS uses to find out if thee is a penalty and if so how much to charge. The reason OP got so much push back because it took him many replies before he provided the total taxes owed by him. He had bee...
by wrongfunds
Thu Apr 11, 2019 8:28 am
Forum: Personal Investments
Topic: High Federal Taxes this year: Tips on reducing taxes, particularly of short-term investments
Replies: 52
Views: 4420

Re: High Federal Taxes this year: Tips on reducing taxes, particularly of short-term investments

I am not sure if we are allowed to talk about it or not but I was pleasantly surprised at the reduced tax bite even when 2018 income was higher and had lost all the itemized deductions. The reduced tax rate helped but it was getting out of the AMT death grip that was the reason our tax bite went dow...
by wrongfunds
Wed Apr 10, 2019 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax not handling after tax 401K conversion?
Replies: 2
Views: 260

Re: TurboTax not handling after tax 401K conversion?

Just providing an update in case somebody runs in to similar issue I went deep in the worksheet and randomly clicked few boxes as the description was far from clear. Eventually the taxable amount got carried over but really, this should not have been necessary at all. But at least I removed one glar...
by wrongfunds
Wed Apr 10, 2019 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: 403(b) in-plan conversion to Roth 403(b) code
Replies: 11
Views: 577

Re: 403(b) in-plan conversion to Roth 403(b) code

I went deep in to worksheet and (essentially) randomly clicked few boxes as the description was far from clear. Eventually the taxable amount got carried over but really, this should not have been necessary at all. But at least I removed one glaring red flag from the return!