Search found 908 matches

by wrongfunds
Wed Dec 13, 2017 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Sinking fund for dream cars
Replies: 19
Views: 741

Re: Sinking fund for dream cars

My great great great grandfather had sinking fund for his dream horse drawn carriage but by the time he had the money, everybody was driving those iron horses aka horseless carriages. I hope you get my point and consider where the transportation would be in 2034. Think more like a fully automated po...
by wrongfunds
Wed Dec 13, 2017 8:32 am
Forum: Personal Consumer Issues
Topic: Snow Tires? Worth it?
Replies: 103
Views: 3307

Re: Snow Tires? Worth it?

This isn't a great practice either as a winter tire in summer weather performs poorly and is really greasy out on the road. I can tell when we start to get some warm weather in early spring that my winter set performs worse than my summer tires or all seasons I've had in the past. I'm talking about...
by wrongfunds
Tue Dec 12, 2017 2:39 pm
Forum: Personal Consumer Issues
Topic: Snow Tires? Worth it?
Replies: 103
Views: 3307

Re: Snow Tires? Worth it?

when I buy snow tires, I run them until they are worn out and then get another set. I do not bother to swap between summer and winter. My winter tires last about 3-4 years and that is good enough for me. I am not a race car driver, so I do not need the summer tires for performance driving. The winte...
by wrongfunds
Sun Dec 10, 2017 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 5624

Re: Quit jobs to gain lower EFC

handout is not a term used when talking in first person; it is only used when talking about other
by wrongfunds
Sat Dec 09, 2017 3:44 pm
Forum: Personal Consumer Issues
Topic: Extended warranty on 2018 Outback
Replies: 47
Views: 1587

Re: Extended warranty on 2018 Outback

"exclusionary."
If you want peace of mind, this is what you purchase from the manufacturer. Anything else, you are throwing away your money,
by wrongfunds
Sat Dec 09, 2017 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 5624

Re: Quit jobs to gain lower EFC

It is never a handout when *I* am entitled to it. It is handout when *you* get it. I thought everybody knew that. By the way, the absolute best way to game this system is to get a job (any job, including being a janitor) at school where school employee's children get free or cheap tuition and then h...
by wrongfunds
Sat Dec 09, 2017 10:24 am
Forum: Personal Finance (Not Investing)
Topic: CPA: The best profession if you want to make the most money + keep the most money?
Replies: 61
Views: 6224

Re: CPA: The best profession if you want to make the most money + keep the most money?

Didn't somebody suggest becoming designated hitter in MLB? I could also add becoming NFL quarterback or becoming NBA star player to make the most money. Are these type of questions really serious? If these questions were serious, then the above answer is the only serious answer. Hopefully, the perso...
by wrongfunds
Sat Dec 09, 2017 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 5624

Re: Quit jobs to gain lower EFC

Ability to pay is taken into consideration for admissions at all but a hand-full of top tier institutions, for all but the most attractive applicants. After putting two kids through the system, I did NOT get that feeling. On the contrary, I recall reading statements on the college application websi...
by wrongfunds
Fri Dec 08, 2017 6:25 pm
Forum: Investing - Theory, News & General
Topic: "Think you can time the stock market? Look at this chart first"
Replies: 42
Views: 4080

Re: "Think you can time the stock market? Look at this chart first"

what exactly is the mechanics involved in missing the best days or for that matter missing the worst days? are you talking about liquidating and then re-entering the market after staying off the market for 24 hour period? isn't this pretty much impossible to do or at least total ridiculous sequence ...
by wrongfunds
Fri Dec 08, 2017 6:13 pm
Forum: Personal Consumer Issues
Topic: Anyone try YourMechanic ?
Replies: 38
Views: 5465

Re: Anyone try YourMechanic ?

My wife just called me, the mechanic is done replacing our brakes, serpentine belts, changing the oil, rotating tires, and basic trip check. He did it all in the parking lot of her office. Said he was on time, very courteous, and they originally ordered the wrong serpentine belt, so he had to go to...
by wrongfunds
Fri Dec 08, 2017 6:07 pm
Forum: Personal Consumer Issues
Topic: Extended warranty on 2018 Outback
Replies: 47
Views: 1587

Re: Extended warranty on 2018 Outback

You two seem to making every effort to shut down this topic. Is that your collective goal?
by wrongfunds
Fri Dec 08, 2017 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 5624

Re: Quit jobs to gain lower EFC

don't we go through this every few weeks? somebody claims that NOBODY pays the full price to the college and then we get in to arguments how that is untrue and lots of BH have forked over quarter million per child for singe undergraduate degree and we keep on going in circles. But it is true that it...
by wrongfunds
Fri Dec 08, 2017 3:01 pm
Forum: Personal Consumer Issues
Topic: Extended warranty on 2018 Outback
Replies: 47
Views: 1587

Re: Extended warranty on 2018 Outback

Nobody needs an extended warranty
Google "Doug Demuro Bumper to Bumper Carmax" to have lots and lots of entertainment
by wrongfunds
Fri Dec 08, 2017 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 5624

Re: Quit jobs to gain lower EFC

I gamed this thread, too. :) You certainly did! I loved it but I am not sure what OP feels about your so helpful contribution. Something tells me that OP does not have the necessary $4M in invest-able assets generating $250K per year to pay for his kids education but I could be definitely wrong. Ho...
by wrongfunds
Fri Dec 08, 2017 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: What do Bogleheads say when they don't want to spend money?
Replies: 103
Views: 5374

Re: What do Bogleheads say when they don't want to spend money?

4) Your post was reported to the forum moderator. Really? Wow :-( I don't think you should throw the 1st stone because it will only escalate from there, wrongfunds, Please read below and judge for yourself. https://www.bogleheads.org/forum/viewtopic.php?f=11&t=233593 KlangFool Yes, I had followed t...
by wrongfunds
Fri Dec 08, 2017 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 5624

Re: Quit jobs to gain lower EFC

By the way, getting "$250K or more a year" had absolutely nothing to do with your kids being in school or you purchasing a LearJet. Your explanation sounded more like "if they don't have the bread, let them eat the cake" category to me.
by wrongfunds
Fri Dec 08, 2017 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 5624

Re: Quit jobs to gain lower EFC

Well, i did game the system. I stopped working full-time when my oldest was about 16. Then I stopped work altogether when I had two kids in college. I found out that one could get $250,000 or more a year which was about the cost of a 4-year college degree at a private elite university back then. It...
by wrongfunds
Fri Dec 08, 2017 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: What do Bogleheads say when they don't want to spend money?
Replies: 103
Views: 5374

Re: What do Bogleheads say when they don't want to spend money?

4) Your post was reported to the forum moderator.
Really? Wow :-( I don't think you should throw the 1st stone because it will only escalate from there,
by wrongfunds
Fri Dec 08, 2017 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: At what age your investments start making more money than you?
Replies: 107
Views: 7264

Re: At what age your investments start making more money than you?

mnnice wrote:
Fri Dec 08, 2017 12:24 pm
I am not sure how much of a milestone it is in this market. My 15 year old has more in his Roth than his lifetime w-2 earnings
Very impressive if the money in the Roth IRA came from his w-2 income itself! On the other hand, if you put the money in his Roth, then it is meaningless.
by wrongfunds
Fri Dec 08, 2017 12:31 pm
Forum: Personal Consumer Issues
Topic: Extended warranty on 2018 Outback
Replies: 47
Views: 1587

Re: Extended warranty on 2018 Outback

If an item needs an extended warranty, I buy the alternate which does not need an extended warranty. If I think Subaru breaks lot more often than Toyota, I will NOT buy Subaru at all. If I wanted the Subaru, I will just add the cost of the extended warranty to my purchase up front. For example, if i...
by wrongfunds
Thu Dec 07, 2017 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: A good friend has nearly $1M in BitCoin what do I tell him?
Replies: 147
Views: 15072

Re: A good friend has nearly $1M in BitCoin what do I tell him?

The thing is almost any rational person would have cashed out at least some portion a long long time ago. Since he reached this far, he is obviously does not belong in that category. I do wonder if he is monitoring it every single second or is he of the type who does not even look at it at all. Ther...
by wrongfunds
Thu Dec 07, 2017 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: A good friend has nearly $1M in BitCoin what do I tell him?
Replies: 147
Views: 15072

Re: A good friend has nearly $1M in BitCoin what do I tell him?

all he has to do is to wait for another month and then it will be worth $3.2M Under the circumstances, why should he sell now if he did not sell before?
by wrongfunds
Thu Dec 07, 2017 4:45 pm
Forum: Personal Consumer Issues
Topic: I received a speeding ticket via mail from IA - should I pay it?
Replies: 72
Views: 4849

Re: I received a speeding ticket via mail from IA - should I pay it?

Said in my best Rick (Casa Blanca) voice

"I am shocked, shocked that this is being allowed to be asked on this forum and has not been yet locked or deleted"
by wrongfunds
Thu Dec 07, 2017 4:34 pm
Forum: Investing - Help with Personal Investments
Topic: 112K pension- need help w/the rest
Replies: 26
Views: 2385

Re: 112K pension- need help w/the rest

Ha! But in that case it was the end of the "old marriage" which made your IRA balance low regardless of the "new marriage" :-) But I am glad that you are taking my friendly jabs in the spirit those were intended. Getting back to your original question. I think you are in great shape financially. You...
by wrongfunds
Thu Dec 07, 2017 1:29 pm
Forum: Investing - Help with Personal Investments
Topic: 112K pension- need help w/the rest
Replies: 26
Views: 2385

Re: 112K pension- need help w/the rest

since you are playing along, you should have mentioned that she is also a Victoria Secret model and that is where her large paycheck is coming from :-) Once again, it was NOT necessary to disclose that you have "new wife" for the original topic but since you did, do not be offended if people get cur...
by wrongfunds
Thu Dec 07, 2017 12:49 pm
Forum: Investing - Help with Personal Investments
Topic: 112K pension- need help w/the rest
Replies: 26
Views: 2385

Re: 112K pension- need help w/the rest

You don’t have to answer my question here. You can PM me if you’d like. I’m just curious as to your line of work to receive such a generous pension. I am extremely jealous LOL. I wish you all the best! Why not ask him how he was able to grab "a new wife who makes $350K per year" while you are it it...
by wrongfunds
Thu Dec 07, 2017 12:13 pm
Forum: Investing - Theory, News & General
Topic: Does it look like a bubble to you?
Replies: 42
Views: 3575

Re: Does it look like a bubble to you?

Meanwhile, the post above which showed the graph with and without Venezuela... that was pretty striking. No doubt it is wrong. For two reasons: 1) Vertical scale is in US dollars which are insensitive to Venezuelan inflation 2) Venezuelan share of world market is <1% I was thinking that initially, ...
by wrongfunds
Thu Dec 07, 2017 12:05 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Bitcoin & It’s Risks
Replies: 57
Views: 4803

Re: Larry Swedroe: Bitcoin & It’s Risks

can you sell/buy fractional bitcoin? does that mean, each bitcoin can have unlimited number of owners? how does that actually work? is the list of the owners and their fractional ownership information embedded inside the bitcoin byte data?
by wrongfunds
Thu Dec 07, 2017 8:46 am
Forum: Investing - Theory, News & General
Topic: Are Dividends Perceived as Moral; Capital Value Changes as Immoral?
Replies: 55
Views: 3019

Re: Are Dividends Perceived as Moral; Capital Value Changes as Immoral?

Am I the only one who thinks by staying out of the market, Warren Buffet has lost at least $10 billion dollars! Do you know anybody else who has managed to achieve such an impressive feat? :-) Or these type of advice is only applicable to plebeians and not to the big shots?
by wrongfunds
Wed Dec 06, 2017 5:54 pm
Forum: Investing - Theory, News & General
Topic: Are Dividends Perceived as Moral; Capital Value Changes as Immoral?
Replies: 55
Views: 3019

Re: Are Dividends Perceived as Moral; Capital Value Changes as Immoral?

The $100M in cash is equivalent to 15% of their assets I do not believe your numbers are accurate. They are wrong by orders of magnitude. Google lists the market cap of Berkshire Hathaway as $484B. That $100M cash is drop in the bucket unless you and I are measuring completely different things. Alr...
by wrongfunds
Wed Dec 06, 2017 12:23 pm
Forum: Personal Consumer Issues
Topic: After financial independence, do you lose motivation for work?
Replies: 156
Views: 11119

Re: After financial independence, do you lose motivation for work?

I am glad that you like your academic job. As I said before, I do not hate my job and I am doing my job satisfactorily. But, it is difficult to get motivated when (1) In the last 10 years, the presidents' salary quadrupled, excluding the bonus, while my salary rised 4.5% in total. (2) Each new pres...
by wrongfunds
Wed Dec 06, 2017 11:16 am
Forum: Investing - Theory, News & General
Topic: Are Dividends Perceived as Moral; Capital Value Changes as Immoral?
Replies: 55
Views: 3019

Re: Are Dividends Perceived as Moral; Capital Value Changes as Immoral?

The $100M in cash is equivalent to 15% of their assets
I do not believe your numbers are accurate. They are wrong by orders of magnitude. Google lists the market cap of Berkshire Hathaway as $484B. That $100M cash is drop in the bucket unless you and I are measuring completely different things.
by wrongfunds
Tue Dec 05, 2017 1:38 pm
Forum: Investing - Theory, News & General
Topic: Jack Bogle Says ‘Avoid Bitcoin Like the Plague’
Replies: 164
Views: 14798

Re: Jack Bogle Says ‘Avoid Bitcoin Like the Plague’

IEEE magazine recently did a whole issue of Spectrum on blockchain technology. I believe it is freely available over Web. A must reading if you are new to this technology.
by wrongfunds
Tue Dec 05, 2017 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 25981

Re: Why not take Social Security at 62

You are ready for 50% hair cut only because you have double the assets.. If you had quadruple assets, you will be ready for 75% haircut. Once again, any and all sort of scenario can be invented, some of them could even be plausible but if you can't distinguish between rational and irrational fear, n...
by wrongfunds
Tue Dec 05, 2017 1:09 pm
Forum: Investing - Theory, News & General
Topic: bitcoin - is there any real value here or is it a pure Ponzi scam?
Replies: 236
Views: 18760

Re: bitcoin - is there any real value here or is it a pure Ponzi scam?

So basically, blocks are created, on average, about every 10 minutes. The difficulty always adjusts to try and hit that target. Computational price and energy costs don't factor in at all. If people bring more miners onto the network, the difficulty adjusts upwards to make it more difficult to find...
by wrongfunds
Tue Dec 05, 2017 11:04 am
Forum: Personal Consumer Issues
Topic: selling an older car on eBay-no bites!
Replies: 65
Views: 4580

Re: selling an older car on eBay-no bites!

I don't think Ford Pinto came in 4 doors; may be that is why it is classic? I had Ford Pinto 2-door which I rolled over on the roof and then drove for another year!
by wrongfunds
Tue Dec 05, 2017 10:59 am
Forum: Personal Consumer Issues
Topic: After financial independence, do you lose motivation for work?
Replies: 156
Views: 11119

Re: After financial independence, do you lose motivation for work?

If I can be assured that I have enough money for the rest of my life with a reasonable living standard, I will quit immediately. Nobody in the world can give you that guarantee. You are the only person who can decide how much and when enough is enough. As long as you do not know how long is your "r...
by wrongfunds
Tue Dec 05, 2017 9:19 am
Forum: Investing - Theory, News & General
Topic: The "petro," a Venezuelan oil-backed cryptocurrency
Replies: 32
Views: 2263

Re: The "petro," a Venezuelan oil-backed cryptocurrency

what is actionable about this topic? how is this not a political topic?
by wrongfunds
Tue Dec 05, 2017 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 25981

Re: Why not take Social Security at 62

You want to prepare for 75% cut in social security and the market tanking by 75% and the inflation going up by 10% every year and the interest rates staying in low 2%, medicare going away and being in long terms care facility for 30 years; is there anything else you need to be ready for? is that wor...
by wrongfunds
Mon Dec 04, 2017 5:52 pm
Forum: Investing - Theory, News & General
Topic: The "petro," a Venezuelan oil-backed cryptocurrency
Replies: 32
Views: 2263

Re: The "petro," a Venezuelan oil-backed cryptocurrency

Ever Ready wrote:
Mon Dec 04, 2017 5:20 pm
Are you sure it's not backed by wristwatches? :oops:
I am afraid lot more did NOT get your joke than the ones who did :-) But please don't explain it. Let "the man" make the comment himself.
by wrongfunds
Mon Dec 04, 2017 3:52 pm
Forum: Investing - Theory, News & General
Topic: bitcoin - is there any real value here or is it a pure Ponzi scam?
Replies: 236
Views: 18760

Re: bitcoin - is there any real value here or is it a pure Ponzi scam?

All this to say that by the time it's the year 2140-ish (when the last of the 21M should be mined), fees should be sufficient to incentivize miners. Can somebody explain where 2140 guess is coming from? I understand 21M limit but what are the assumptions inherent in coming up with the end date? Are...
by wrongfunds
Mon Dec 04, 2017 8:58 am
Forum: Investing - Help with Personal Investments
Topic: The 4% rule, Firecalc and Human Nature
Replies: 86
Views: 5894

Re: The 4% rule, Firecalc and Human Nature

Pfau (and his co-authors) showed that, given current valuations for stocks & bonds, the success rate for a 4% withdrawal was only 48.2%. Is this the same author who also assumed 1% AUM cost? Otherwise, this is the first time that I have seen the above assertion aka success rate of 4% being less tha...
by wrongfunds
Sun Dec 03, 2017 8:01 pm
Forum: Investing - Help with Personal Investments
Topic: The 4% rule, Firecalc and Human Nature
Replies: 86
Views: 5894

Re: The 4% rule, Firecalc and Human Nature

For us, I assume we will both spend our entire retirement years in a good long term care facility. Those costs are much higher than the optimistic assumption that we will spend at our current rates until we die. It is illuminating. I am suspecting those numbers would be about $500K per year for the...
by wrongfunds
Sun Dec 03, 2017 7:35 pm
Forum: Forum Issues and Administration
Topic: Is it time to put limit of max 99 active Bitcoin topics?
Replies: 9
Views: 780

Is it time to put limit of max 99 active Bitcoin topics?

This is getting patently ridiculous. I think the time has come to add Bitcoin to the list of unmentionables aka similar to politics and pending legislation.
by wrongfunds
Sun Dec 03, 2017 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: The College Bubble - investment opportunities after the collapse?
Replies: 114
Views: 7706

Re: The College Bubble - investment opportunities after the collapse?

their parents will have 401(k)s, 403(b)s, and IRAs that will get passed on to the children. They will be able to retire as soon as their parents die This statement put your right on the top of the ivory tree and even after the scathing cul-de-sac insult (that was good insult, I never knew about tha...
by wrongfunds
Sun Dec 03, 2017 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: The College Bubble - investment opportunities after the collapse?
Replies: 114
Views: 7706

Re: The College Bubble - investment opportunities after the collapse?

I suspect you haven’t left your cul de sac in a week or so. :) I know you jest, but I actually have been around the world in October and November teaching people ages 22 to 35. And since coming back have had my kids (well-educated, one graduated from college, the other about to graduate) home for T...
by wrongfunds
Fri Dec 01, 2017 7:30 pm
Forum: Personal Consumer Issues
Topic: For Musk, an Energy Feat the Size of a Football Field
Replies: 52
Views: 2137

Re: For Musk, an Energy Feat the Size of a Football Field

Faerrai sold 8000 total vehicles in 2016. Honda sold 4.7 million vehicles in 2016. All numbers are worldwide numbers.
by wrongfunds
Fri Dec 01, 2017 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: The College Bubble - investment opportunities after the collapse?
Replies: 114
Views: 7706

Re: The College Bubble - investment opportunities after the collapse?

what is the personal and actionable part of this discussion? I thought LiveSoft was kidding but apparently he was not. The number of people who will be leaving millions to their children constitutes lots less than the number of children which are attending colleges. Do I have to provide a formal stu...
by wrongfunds
Fri Dec 01, 2017 3:44 pm
Forum: Personal Consumer Issues
Topic: Does it make sense to drop health insurance?
Replies: 198
Views: 7118

Re: Does it make sense to drop health insurance?

They only seem concerned on who should pay and who should have healthcare. Everybody else should pay for *my* health care but I do not want to pay for anybody else's health care. Unless the nation as a whole decides that everybody will have funded healthcare and willing to pay for it collectively (...
by wrongfunds
Fri Dec 01, 2017 1:31 pm
Forum: Personal Consumer Issues
Topic: For Musk, an Energy Feat the Size of a Football Field
Replies: 52
Views: 2137

Re: For Musk, an Energy Feat the Size of a Football Field

For those doubting the Chevy bolt sales numbers if you could be troubled to do 3 seconds of research you can find the numbers. Chevy Bolt sales are hot right now. I don't doubt that they're hot, and I am pleased to see EV acceptance. I'm asking because I don't know, not to be snarky: when sales fig...