Search found 2278 matches

by wrongfunds
Thu Jan 30, 2020 11:00 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5727
Views: 489600

Re: U.S. stocks continue to soar!

Well, I had lots of high fliers like Nortel, JDS, Solectron and Lucent in my retirement account circa 2000.
by wrongfunds
Thu Jan 30, 2020 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Is roth conversion worth it in all cases?
Replies: 87
Views: 8920

Re: Is roth conversion worth it in all cases?

That was the disclaimer to the deal offered aka tiny print or 10 pages of junk and then you click "I accept" without reading :-) I used that color so you will NOT be able to read it. That was the idea * We reserve the right to terminate this deal or make changes to it as we deemed necessary based up...
by wrongfunds
Thu Jan 30, 2020 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: LBYM vs Not Really Wanting More (NRWM(?))
Replies: 78
Views: 6535

Re: LBYM vs Not Really Wanting More (NRWM(?))

You never said "another" $1.5M; of course,, then what you are waiting for?
by wrongfunds
Thu Jan 30, 2020 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: $3 million the new rule of thumb?
Replies: 653
Views: 50685

Re: $3 million the new rule of thumb?

ACA subsidies is the 3rd rail of this forum. If you touch it, prepared to be evaporated :-) We put lot of effort to game the system and IT IS COMPLETELY LEGAL, don't you know? Yes, I am surprised that given the tumultuous history of how ACA came about, people still think it will continue without it ...
by wrongfunds
Thu Jan 30, 2020 6:45 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 65625

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

I do not understand your worries about ACA and tIRA. Your tIRA can (or should be) only touched after you reach at least 59.5 If you are talking about ACA from age 50 to 65, how would you handle the 1st 10 years of ACA before tIRA even comes in to picture? I understand that you are concerned about 90...
by wrongfunds
Thu Jan 30, 2020 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Is roth conversion worth it in all cases?
Replies: 87
Views: 8920

Re: Is roth conversion worth it in all cases?

For a message board that seems to celebrate the reduction on an expense ratio from 0.1% to 0.09%, I have a hard time understanding why tax savings isn't also celebrated. If your mutual fund had said, if you pay sales charge now , we will reduce your expense ratio in future [ * ], would you go for i...
by wrongfunds
Thu Jan 30, 2020 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: LBYM vs Not Really Wanting More (NRWM(?))
Replies: 78
Views: 6535

Re: LBYM vs Not Really Wanting More (NRWM(?))

practice LBYM but also reward my self 150K toy for every 1.5 Mil I accumulate :D I don't think it works that way. 10% of your worth on a toy? Sorry, that is not BH way. What if your withdraw rate for yearly expenses is less than 2%, would you still do it ? You mean when you are in the life stage wh...
by wrongfunds
Thu Jan 30, 2020 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Is roth conversion worth it in all cases?
Replies: 87
Views: 8920

Re: Is roth conversion worth it in all cases?

sorry; did not realize that. My apologies to Dusty! I hope he will understand.

Now I would be extremely interested to get his input to our current discussion and what path he is taking.
by wrongfunds
Thu Jan 30, 2020 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 65625

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

If I were to believe that there was a high possibility of this specific event happening I would adjust my AA and then do an analysis. What do you mean? You are already investing and have selected your AA and understand that "YES, this specific event can happen and I have already planned for it". Be...
by wrongfunds
Thu Jan 30, 2020 4:44 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5727
Views: 489600

Re: U.S. stocks continue to soar!

Holy TSLA. I wanted to buy at 180, but kept telling myself: don't buy individual stocks! When you buy individual stock, you have to have predetermined exit point. With the whole market, you don't have an exit point until you need to the money to support you in retirement. If you had bought Apple at...
by wrongfunds
Thu Jan 30, 2020 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Is roth conversion worth it in all cases?
Replies: 87
Views: 8920

Re: Is roth conversion worth it in all cases?

Smitcat and Wrongfunds, I appreciate your responses and find them quite helpful. Thank you. You are welcome. I thought I was just talking to myself and if anybody else is listening. The goal should be to put as much as possible in retirement accounts starting out early and only worry about having t...
by wrongfunds
Thu Jan 30, 2020 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: $3 million the new rule of thumb?
Replies: 653
Views: 50685

Re: $3 million the new rule of thumb?

Have your wife talk to KF, you might already be sharing the neighborhood with him :-) He lives in similar mixed TH/SFH home too.
by wrongfunds
Thu Jan 30, 2020 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 65625

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

- we know that $900K now if still preferable over $1M later if later is a few years At a discount rate of 3%, $900k now will be $1M in 3.5 years. $900k will be $1.5M in 17 years. Unless you’re expecting to pay all of your taxes the first year you retire, “a few years” really means quite a few years...
by wrongfunds
Thu Jan 30, 2020 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 65625

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

- we know that $900K now if still preferable over $1M later if later is a few years At a discount rate of 3%, $900k now will be $1M in 3.5 years. $900k will be $1.5M in 17 years. Unless you’re expecting to pay all of your taxes the first year you retire, “a few years” really means quite a few years...
by wrongfunds
Thu Jan 30, 2020 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: LBYM vs Not Really Wanting More (NRWM(?))
Replies: 78
Views: 6535

Re: LBYM vs Not Really Wanting More (NRWM(?))

practice LBYM but also reward my self 150K toy for every 1.5 Mil I accumulate :D I don't think it works that way. 10% of your worth on a toy? Sorry, that is not BH way. What if your withdraw rate for yearly expenses is less than 2%, would you still do it ? You mean when you are in the life stage wh...
by wrongfunds
Thu Jan 30, 2020 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: LBYM vs Not Really Wanting More (NRWM(?))
Replies: 78
Views: 6535

Re: LBYM vs Not Really Wanting More (NRWM(?))

vipertom1970 wrote:
Thu Jan 30, 2020 2:33 pm
practice LBYM but also reward my self 150K toy for every 1.5 Mil I accumulate :D
I don't think it works that way. 10% of your worth on a toy? Sorry, that is not BH way.
by wrongfunds
Thu Jan 30, 2020 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Is roth conversion worth it in all cases?
Replies: 87
Views: 8920

Re: Is roth conversion worth it in all cases?

What seems to be completely missing is the probabilistic aspect of all the analysis done for Roth vs Traditional. Because these are the same people who *do* structure their finances by assuming worst case scenario and do NOT use probabilistic models when they come up with 25X or 33X numbers. Can't y...
by wrongfunds
Thu Jan 30, 2020 2:40 pm
Forum: Personal Consumer Issues
Topic: Tesla Fire Safety
Replies: 26
Views: 1514

Re: Tesla Fire Safety

I think neither is Tesla lithium battery.

Anybody who thinks they have to worry about Tesla fire and NOT about Lexus fire is either just unaware of how many regular car fires happen in a year in USA or has a different motive than safety concern.
by wrongfunds
Thu Jan 30, 2020 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 65625

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

If I had instead said $750K and $1M, would that have made any difference? If I had ratcheted the 50% down to 80%, would that make any difference to the principle behind this discussion? As I said, a probabilistic model will most likely show that prepaying taxes under specific set of assumption would...
by wrongfunds
Thu Jan 30, 2020 2:22 pm
Forum: Personal Consumer Issues
Topic: Tesla Fire Safety
Replies: 26
Views: 1514

Re: Tesla Fire Safety

I have got similar problems. There is almost 20 gallon of VERY HIGH EXPLOSIVES in my garage. I am always worried. Sometimes I have over 40 gallons of that material which has the ability to take my house down. Do you know what I am talking about? P.S. I presume Tesla stock price did not have any fac...
by wrongfunds
Thu Jan 30, 2020 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Is roth conversion worth it in all cases?
Replies: 87
Views: 8920

Re: Is roth conversion worth it in all cases?

We +are /- 60 and already have 3 in tax deferred. We have no plans of retiring early. Given that in retirement we will not have any 401K/HSA deductions, with close to full dual SS, the income will be most likely more than what we make today. We pay insane taxes today on regular W2 income and we will...
by wrongfunds
Thu Jan 30, 2020 2:07 pm
Forum: Personal Consumer Issues
Topic: Tesla Fire Safety
Replies: 26
Views: 1514

Re: Tesla Fire Safety

And what about the unintended acceleration problem? Isn't that a safety hazard too? I don't want my Tesla to crash through the garage and land in my living room *AND* then catching fire? Especially that Model 3 Performance because it will take few milliseconds to do that. Is anybody looking in to th...
by wrongfunds
Thu Jan 30, 2020 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 65625

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

Tell me the market close of next year. Will it be up by 20% or down by 20% or remain the same? Are you ready for 50% market drop next year? Are you ready for 50% market drop this year? Do you still want to prepay taxes assuming market will be up 7%? Don't you see a complete disconnect between being ...
by wrongfunds
Thu Jan 30, 2020 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 65625

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

Given that is true, why do we proportionally get so many people who think otherwise? The optimism of ending up with too much money but at the same time the pessimism about market crashing when they need the money dichotomy just does jive with each other. It’s for the same reason that people of very...
by wrongfunds
Thu Jan 30, 2020 1:53 pm
Forum: Personal Consumer Issues
Topic: Tesla Fire Safety
Replies: 26
Views: 1514

Re: Tesla Fire Safety

I have got similar problems. There is almost 20 gallon of VERY HIGH EXPLOSIVES in my garage. I am always worried. Sometimes I have over 40 gallons of that material which has the ability to take my house down. Do you know what I am talking about? P.S. I presume Tesla stock price did not have any fac...
by wrongfunds
Thu Jan 30, 2020 1:35 pm
Forum: Personal Consumer Issues
Topic: Tesla Fire Safety
Replies: 26
Views: 1514

Re: Tesla Fire Safety

I have got similar problems. There is almost 20 gallon of VERY HIGH EXPLOSIVES in my garage. I am always worried. Sometimes I have over 40 gallons of that material which has the ability to take my house down. Do you know what I am talking about? P.S. I presume Tesla stock price did not have any fact...
by wrongfunds
Thu Jan 30, 2020 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 65625

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

Given that is true, why do we proportionally get so many people who think otherwise? The optimism of ending up with too much money but at the same time the pessimism about market crashing when they need the money dichotomy just does jive with each other. It’s for the same reason that people of very...
by wrongfunds
Thu Jan 30, 2020 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 65625

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

^This. Prepare for the incoming barrage of "but if my PFP is met I will have $N0,000,000 in my accounts and at my RMD that is more than I am making now." My response: Hey, Sparky....inflate the tax tables by 5% per year and see what the tax brackets will be. Don't like 5%, then pick your number...b...
by wrongfunds
Thu Jan 30, 2020 11:30 am
Forum: Personal Finance (Not Investing)
Topic: Is roth conversion worth it in all cases?
Replies: 87
Views: 8920

Re: Is roth conversion worth it in all cases?

The way I look at it is what is the worst that can happen in the two cases. Case 1:- You end up with too much money and thus spend too much on taxes from that too much money Case 2:- You end up with NOT too much money BUT you have already spent too much money on taxes preemptively. I know which case...
by wrongfunds
Thu Jan 30, 2020 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 701
Views: 79513

Re: Fidelity free Turbotax

This is what I did. I asked Fidelity to assign a rep to my account so that I can have in person consultation. I got the call from local office. I asked for the same person whom we had seen 6 years ago. Now he is a big shot there but his assistant has been very helpful for setting up appointment with...
by wrongfunds
Thu Jan 30, 2020 10:27 am
Forum: Personal Finance (Not Investing)
Topic: $3 million the new rule of thumb?
Replies: 653
Views: 50685

Re: $3 million the new rule of thumb?

What about the most expensive item, a house? In Dec-1979 I paid $47,500 for a 3BR house. According the CPI calculator, in Dec-2019 that is $159,142.96. The house sold in 2019 for $296,6000 For $159K today, in the same area, I can only buy a 1 bedroom condo, i.e. downgrade. NOT if you did actually s...
by wrongfunds
Thu Jan 30, 2020 9:14 am
Forum: Personal Finance (Not Investing)
Topic: $3 million the new rule of thumb?
Replies: 653
Views: 50685

Re: $3 million the new rule of thumb?

Here it is always difficult to know who is serious and who is yanking our chain. But I think that is what makes this forum so interesting.
by wrongfunds
Thu Jan 30, 2020 8:25 am
Forum: Personal Finance (Not Investing)
Topic: $3 million the new rule of thumb?
Replies: 653
Views: 50685

Re: $3 million the new rule of thumb?

As you've discovered, there is often a lot of insight to be had in taking a granular look at such data. I agree that it would have been insightful for them to include income as well as expenses across the quintiles. I don't see anything nefarious in their not doing so though. I guess we disagree on...
by wrongfunds
Wed Jan 29, 2020 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 65625

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

Thank you! The word which is used for male hen fighting was the only thing that I could come up at short notice,
by wrongfunds
Wed Jan 29, 2020 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: $3 million the new rule of thumb?
Replies: 653
Views: 50685

Re: $3 million the new rule of thumb?

As you've discovered, there is often a lot of insight to be had in taking a granular look at such data. I agree that it would have been insightful for them to include income as well as expenses across the quintiles. I don't see anything nefarious in their not doing so though. I guess we disagree on...
by wrongfunds
Wed Jan 29, 2020 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 65625

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

I feel like I am watching the "Groundhog Day" again and again and again :-) I know, right? One side says, “a person is more likely than not to be in a lower tax bracket in retirement.” Which is totally correct. Then other side says, “but you just hold on now, Skippy. There are some people who have ...
by wrongfunds
Wed Jan 29, 2020 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 436
Views: 117497

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

Anybody with double digit number of kids... Those people are dead already :D You are right about that but let us change it to half a dozen? I think my statement still stands? Contrary Anecdote:- While flying to Bora Bora, there was a family on our plane sitting in upper class which I counted almost...
by wrongfunds
Wed Jan 29, 2020 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 65625

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

Our combined pretax income while working ended up at 150,000. By taking advantage of a variety of available strategies (state Deferred Compensation Program, 403b plan and state retirement plan, as well as a program that allowed us to shelter our health care plan costs) we never had a taxable income...
by wrongfunds
Wed Jan 29, 2020 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 65625

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

But even for million dollar worth household, the original quote "You will likely be in a lower tax bracket in retirement" is TRUE! So I think we are in violent agreement.
by wrongfunds
Wed Jan 29, 2020 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: $3 million the new rule of thumb?
Replies: 653
Views: 50685

Re: $3 million the new rule of thumb?

student wrote:
Wed Jan 29, 2020 3:23 pm
wrongfunds wrote:
Wed Jan 29, 2020 3:01 pm
Anybody touts average data in any social context, insists on getting median numbers. ALWAYS.
One popular joke is someone was computing the average net worth of people in the room. Then Bill Gates walked in.
I was told that when I walk out of the room, the average IQ of the room shoots up.
by wrongfunds
Wed Jan 29, 2020 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 65625

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

mptfan wrote:
Wed Jan 29, 2020 3:18 pm
Thegame14 wrote:
Wed Jan 29, 2020 3:12 pm
That MAY be possible but that is not the answer for the average person...
Don't you mean median person?
:D
I just spit out my coffee on the keyboard :-)
by wrongfunds
Wed Jan 29, 2020 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 65625

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

Isnt the simple answer that once you retire, by definition you stop working, therefore have less income so you are in a lower tax bracket...... Not if you have built up substantial portfolio (multi-million) in pre-tax accounts and/or post-tax account (multi-million) generating annual distribution *...
by wrongfunds
Wed Jan 29, 2020 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 436
Views: 117497

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

Anybody here who has a string of ex-spouses and your net work is still over $3 million? Anybody with double digit number of kids and net worth over $3 million?

No? There is your answer to the question :-)
by wrongfunds
Wed Jan 29, 2020 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Daughter's Boston Job Offer
Replies: 115
Views: 9616

Re: Daughter's Boston Job Offer

What? Utah is so cheap? Nobody told me Salt Lake City is cheap nor did I get that feeling when I visited southern part of Utah (bordering on Arizona).
by wrongfunds
Wed Jan 29, 2020 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: $3 million the new rule of thumb?
Replies: 653
Views: 50685

Re: $3 million the new rule of thumb?

Since I've never spent close to $120k in my working years I'll pass. What % of retirees in the US have $3M or more? According to what I've seen, $3M at 65 puts you in the top 7%. I'm sure on this forum the stats are different. For 65-69 year olds, a $3 million net worth excluding home equity puts y...
by wrongfunds
Wed Jan 29, 2020 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: $3 million the new rule of thumb?
Replies: 653
Views: 50685

Re: $3 million the new rule of thumb?

I also thought teachers don't get social security but only pension. I could be wrong. Regardless, I have no complaints. Teachers should be paid handsomely, at least as much as cops or firefighters.
by wrongfunds
Wed Jan 29, 2020 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Daughter's Boston Job Offer
Replies: 115
Views: 9616

Re: Daughter's Boston Job Offer

Do they make you sign non-compete at entry level (heck even at senior grunt aka engineers) position?
by wrongfunds
Wed Jan 29, 2020 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: $3 million the new rule of thumb?
Replies: 653
Views: 50685

Re: $3 million the new rule of thumb?

Yes. It’s a good number. And its more like 3%....not 4%. A cop, fireman, or teacher that retires can earn $90k in retirement. Why not you? Where can a retired teacher earn $90K? Family experience with career public school teachers says that's way off. The average retired teacher in Illinois is coll...
by wrongfunds
Wed Jan 29, 2020 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 65625

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

Isnt the simple answer that once you retire, by definition you stop working, therefore have less income so you are in a lower tax bracket...... Not if you have built up substantial portfolio (multi-million) in pre-tax accounts and/or post-tax account (multi-million) generating annual distribution *...