Search found 241 matches

by Keim
Sun Nov 26, 2023 10:33 am
Forum: Personal Consumer Issues
Topic: The Hedonic Treadmill, Spreadsheets and Jet Skis
Replies: 177
Views: 18504

Re: The Hedonic Treadmill, Spreadsheets and Jet Skis

smitcat wrote: Sun Nov 26, 2023 6:59 am
Keim wrote: Sat Nov 25, 2023 3:47 pm
smitcat wrote: Thu Nov 23, 2023 9:05 am What was the purpose for the savings to begin with?
For me the purpose of the savings is more about security and self determination then consumption. When my time has come I will be happy to let my kids put the leftovers into their security stashes.
I don't think so. Leftover money going to them is a happy accident.

The purpose was for your kids.
by Keim
Sat Nov 25, 2023 5:24 pm
Forum: Personal Consumer Issues
Topic: The Hedonic Treadmill, Spreadsheets and Jet Skis
Replies: 177
Views: 18504

Re: The Hedonic Treadmill, Spreadsheets and Jet Skis

It's not going to be much of a wave runner for only $10K. :) But yea, you're going to be happier with the Wave Runner than an extra $10K in savings. At least for a while. Then your happiness will be about what it was with either $3.33M with a waverunner, $3.34M without a waverunner, or $3.33M without a waverunner due to the way happiness works. I'm not sure I'm on board with that theory on happiness. Like a waverunner, I owned my motorcycle for 34 years and was happy every time I rode it (well except once, but that time I was extremely happy afterwards that I survived. I'll never forget that clink sound of the gravel hitting the tin in the ER as the Dr. picked the embedded gravel out of my chin). That motorcycle was the best $900 I ever sp...
by Keim
Sat Nov 25, 2023 3:47 pm
Forum: Personal Consumer Issues
Topic: The Hedonic Treadmill, Spreadsheets and Jet Skis
Replies: 177
Views: 18504

Re: The Hedonic Treadmill, Spreadsheets and Jet Skis

smitcat wrote: Thu Nov 23, 2023 9:05 am What was the purpose for the savings to begin with?
For me the purpose of the savings is more about security and self determination then consumption. When my time has come I will be happy to let my kids put the leftovers into their security stashes.
by Keim
Fri Aug 04, 2023 12:04 am
Forum: Personal Consumer Issues
Topic: How much for college, actual numbers?
Replies: 30
Views: 3756

Re: How much for college, actual numbers?

Both my kids are currently in college. Paid tuition last week.

Daughter 1 goes out of state to a public school. Has scholarship, which brings tuition to 6500 semester. Plus room and board. Iirc about 13k when room and board was included.

Daughter 2 goes to a private school. Has scholarship, which brings tuition to about 15k semester. Includes room and board.

Did I mention how painful last week was?
by Keim
Fri Jun 09, 2023 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Second House Awesome or Crazy?
Replies: 38
Views: 4297

Re: Second House Awesome or Crazy?

We bought a mountain/country cabin 5 years ago. It's been a great place to relax for a weekend every month.

By pure luck, it's also turned out to be a decent investment. It has doubled in value.

No regrets here.
by Keim
Tue Apr 25, 2023 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: A house on a slope: Protecting the underside
Replies: 13
Views: 1656

Re: A house on a slope: Protecting the underside

I have a mountain/forest cabin like OP built on beam and peer. It is also on a steep slope. Built in 1970 from leftover parts from the nearby Snake River dam. Like the OPs pictures, there is no finishing paint or sealer on anything under the house.

It's still in great shape-and we are in a much wetter environment than OP. Just make sure rain water is routed around the house.
by Keim
Mon Mar 06, 2023 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford a vacation home?
Replies: 105
Views: 10601

Re: Can I afford a vacation home?

3PKWzh9 wrote: Mon Mar 06, 2023 1:25 pm
RonSwanson wrote: Mon Mar 06, 2023 1:11 pm For $4M, I would be wanting a ski out, ski in situation. That is a bump up in terms of quality of stay compared to needing to take a shuttle or whatever.

You have young kids and they are going to change a lot in the coming years. Starting by renting a sweet house seems like the most prudent first step.

I do think that having a 'getaway' is nice though. I have one myself, but since it is only an hour away of easy commute it gets used at least once a week. My buddies that have places 3-4 hours away-I can't imagine making that trip often with kids that get out of school on Friday afternoon and need to be back early Monday morning.
Where (in the western US) can you buy a 4BR ski-in/ski-out for $4M?
North Idaho, I suspect.
by Keim
Sat Mar 04, 2023 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford a vacation home?
Replies: 105
Views: 10601

Re: Can I afford a vacation home?

Personally I'd rather travel the world and rent incredible places to stay. I’d rent the vacation house - less hassle and no worries about bad tenants or maintenance on a second home. My sentiments exactly. While it might seems nice, a vacation home is just a consumer product. Once the novelty wears off going to the same place every year will probably become boring and tedious. In terms of maximizing happiness/reducing stress, I think it makes more sense to have more varied experiences by traveling to different places and renting for 3 mos rather than owning the same place year after year after year. Vacation home conversations always evolve into this discussion. It's simple, really. Some like them, some don't. I've had my mountain cabin fo...
by Keim
Sat Mar 04, 2023 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford a vacation home?
Replies: 105
Views: 10601

Re: Can I afford a vacation home?

Personally I'd rather travel the world and rent incredible places to stay. I’d rent the vacation house - less hassle and no worries about bad tenants or maintenance on a second home. My sentiments exactly. While it might seems nice, a vacation home is just a consumer product. Once the novelty wears off going to the same place every year will probably become boring and tedious. In terms of maximizing happiness/reducing stress, I think it makes more sense to have more varied experiences by traveling to different places and renting for 3 mos rather than owning the same place year after year after year. Vacation home conversations always evolve into this discussion. It's simple, really. Some like them, some don't. I've had my mountain cabin fo...
by Keim
Sat Mar 04, 2023 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford a vacation home?
Replies: 105
Views: 10601

Re: Can I afford a vacation home?

Of course you can afford it. The real question is why would you even think about renting it out? Affordability is not an issue, the potential income is insignificant compared to your net worth and current income, however the hassle and risk of issues arising is high. We have a vacation home, at multiple times considered a second in a different location. We don’t and won’t rent out our vacation home(s). We allow close friends and family use it for free just so there is life in it. IMO a vacation home is a lifestyle choice not an investment. Keep the home close by, ours is 90 min away. We use it ~100 nights a year. Most weekends in the winter, a lot of summer weekends and then a couple times a year we will do 1-2 week stints. Ours would be 3...
by Keim
Sat Mar 04, 2023 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford a vacation home?
Replies: 105
Views: 10601

Re: Can I afford a vacation home?

You can afford it. Seems the real question is do your numbers work out for it as an off season rental.

For a little perspective, I make in the low 6 figures/yr and can easily afford a vacation cabin. It's been one of my best purchases.
by Keim
Mon Feb 27, 2023 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: have you been asked to show receipts for HSA?
Replies: 17
Views: 4136

Re: have you been asked to show receipts for HSA?

Yes, the IRS audited that portion of my taxes once. HSA receipts was all they requested to see.
by Keim
Fri Jan 27, 2023 7:20 pm
Forum: Investing - Theory, News & General
Topic: Taxable vs non-taxable investing: WWYD?
Replies: 14
Views: 1253

Re: Taxable vs non-taxable investing: WWYD?

sailaway wrote: Fri Jan 27, 2023 7:16 pm I would not give up on a Roth IRA to put more in taxable.

We do choose to use t401k, but that is because we expect to have a lower marginal rate in the future. If your 403b means you also have a pension, that might not be the case for you.
No pension. But we are invested in TIAA traditional, which is a unique investment instrument that can be annuitized.
by Keim
Fri Jan 27, 2023 7:10 pm
Forum: Investing - Theory, News & General
Topic: Taxable vs non-taxable investing: WWYD?
Replies: 14
Views: 1253

Re: Taxable vs non-taxable investing: WWYD?

sport wrote: Fri Jan 27, 2023 6:16 pm
bikenfool wrote: Fri Jan 27, 2023 5:22 pm Unless you're in the 12% bracket you will be in lower tax bracket when you retire, so keep putting the max amount in IRA/403B . Also try to save more in your taxable and pay off your mortgage.
There are different ways to view these things. Some people are in a higher tax bracket in retirement. Also, if your mortgage rate is very low, you may be better off keeping it and invest any extra cash elsewhere.
I generally prefer to be debt free. And have been mortgage free before. But, this rate is very low and its only about $40k.
I prefer to keep the money invested.
by Keim
Fri Jan 27, 2023 4:02 pm
Forum: Investing - Theory, News & General
Topic: Taxable vs non-taxable investing: WWYD?
Replies: 14
Views: 1253

Re: Taxable vs non-taxable investing: WWYD?

sport wrote: Fri Jan 27, 2023 2:39 pm Rather than putting money into taxable, I would put it into Roth IRAs. The contributions are always available if you need them, but all the growth is tax free.
Aren't there restrictions on what I can spend that on without penalty,
by Keim
Fri Jan 27, 2023 2:35 pm
Forum: Investing - Theory, News & General
Topic: Taxable vs non-taxable investing: WWYD?
Replies: 14
Views: 1253

Taxable vs non-taxable investing: WWYD?

Wife and I are in our early 50s and hoping to retire somewhat early. Two kids in college. Household income is around $110k. Total networth of about 1.6m. We've been scrupulous savers into our IRAs and 403b's. We have just over a million in these tax advantaged spaces. About 500k in RE, which is comprised of a house and cabin. 40k mortgage on the house. About 50k in taxable investments. That seems a bit thin compared to our tax advantaged investments. I'm thinking for the next several years of foregoing the IRAs and beefing up the taxable to 75 or 100k.

What would you do?
by Keim
Wed Jan 25, 2023 12:15 am
Forum: Personal Consumer Issues
Topic: First time trip in snow, need to know what gear to buy
Replies: 69
Views: 5009

Re: First time trip in snow, need to know what gear to buy

Chat with your local friends for more detailed recommendations. We don't know where you're going, how cold or windy it's likely to be, or if you are going to be near a ski lodge the whole time vs. snowmobiling in the back country with your local friends. You have lots of good suggestions in this thread, but the details of what you need will vary a bit with local conditions, how long you will be out, how far away you are from a house or lodge with heat and hot chocolate, etc. Lots of good advice in this thread. But, hands down, this is the best. Chat with a local about what you will need to do what you plan. OP doesn't tell us much about what they will be doing, where they are going, expected temperature, windchill, activity level, etc... W...
by Keim
Sun Jan 15, 2023 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: How to raise $2-3M for child’s treatment
Replies: 22
Views: 5920

Re: How to raise $2-3M for child’s treatment

If you are planning to distribute funds to a 501(c)(3) I think a Donor Advised Fund is the simplest and fastest way to get started. That way you can focus on where to distribute the funds most effectively rather than administrative activity of establishing and managing a foundation. Assuming research is already underway, there is probably more leverage by donating to existing research etc. than to attempt a greenfield startup. As always, this involves due diligence on donees but again, I think time spent on that is more beneficial than admin activity. Best of luck with this endeavor. As someone who started a nonprofit 7 years ago, and continues to manage it, I am writing to agree. Find an existing nonprofit whose mission you can support. F...
by Keim
Sun Nov 20, 2022 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Squared Away: "Spouse in Nursing Home Raises Poverty Risk"
Replies: 43
Views: 5250

Re: Squared Away: "Spouse in Nursing Home Raises Poverty Risk"

Hi Bogleheads, here is the latest from "Squared Away" https://squaredawayblog.bc.edu/squared-away/spouse-in-nursing-home-raises-poverty-risk/ When nursing home care uses up a widow’s savings, the federal Medicaid program will kick in and cover her bills for care. But it’s more complicated for couples.If one spouse moves into a nursing home and the bills start piling up, the person who is still living in their home can face serious financial hardship and even poverty. This is a significant risk facing the one in three married people in their early 70s whose spouse will eventually wind up in a nursing home... here is a link to the original paper https://mrdrc.isr.umich.edu/publications/papers/pdf/wp433.pdf and the abstract We find ...
by Keim
Sun Nov 20, 2022 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Squared Away: "Spouse in Nursing Home Raises Poverty Risk"
Replies: 43
Views: 5250

Re: Squared Away: "Spouse in Nursing Home Raises Poverty Risk"

Circe wrote: Sun Nov 20, 2022 8:34 am The risk of 1 out of 3 needing care seems too low. Also, costs cited are too low. In my area, assisted living was about $7500 per month and Skilled Nursing over $10k per month. Memory care was over $9k. Those are last year's costs, but with inflation I suspect that they are much higher and still rising.

I had one relative who needed care for only a few months while another needed 10 years of higher-level care.
Those numbers reflect my experience in MT. My MIL is in a memory care facility for $10k a month. It is one of the more expensive in town, but my FIL clearrly saw that he was getting what he eas paying for on terms of quality differences.

Unfortunately my FIL does not have LTCi.
by Keim
Thu Oct 27, 2022 10:54 pm
Forum: Personal Finance (Not Investing)
Topic: Cost to repair sewer line - who pays? [new issue: clean-up]
Replies: 33
Views: 3686

Re: Cost to repair sewer line - who pays?

Why should your neighbor pay when his sewer isnt impacted?
by Keim
Sun Sep 18, 2022 12:10 pm
Forum: Personal Consumer Issues
Topic: Second home ownership questions
Replies: 21
Views: 2357

Re: Second home ownership questions

Have any of you successfully handled new home construction remotely? WE BOUGHT A 800SF 1970 ERA REMOTEISH MOUNTAIN CABIN IN FORECLOSURE, SO NO. How do you handle good preventative maintenance and/or keeping the yard look tended? WE ARE ON A FOREST. NO YARD. I HANDLE FOREST MAINTENANCE MYSELF-EXCEPT DROPPING LARGE TREES. TAKES A DAY OR TWO EACH YEAR. I LARGELY DO THE SIMPLE HOME MAINTENANCE. HIRE OUT PLUMBING AND ADVANCED ELECTRICAL. Do you rent the place out when you are not there? NO. PART OF THE CHARM OF THE CABIN FOR US IS AVAILABILITY AND DECORATING TO OUR TASTE. How have you born the emotions of writing a 2nd check for insurance and utilities? MAKES ME HAPPY, AS THE CABIN IS MY GET AWAY FROM THE WORLD PLACE. Spartan fixtures and furni...
by Keim
Sun Jun 26, 2022 8:42 pm
Forum: Personal Finance (Not Investing)
Topic: About to close on house - did not notice several dead trees need that will need removal. Any thing i can do?
Replies: 120
Views: 11652

Re: About to close on house - did not notice several dead trees need that will need removal. Any thing i can do?

About 6 years ago i had 2 guys come out to my forest cabin and drop, limb and cut 5 or 6 trees of that size for $500 and a couple of ribeyes. Given your estimate you could hire my guys, fly them out, and come out $ ahead. ;)

Seriously, tho, are thry near a powerline? If so, utility may drop them for you.
by Keim
Tue Apr 19, 2022 9:25 pm
Forum: Personal Consumer Issues
Topic: Grandma's 16 year old Honda Civic
Replies: 150
Views: 13416

Re: Grandma's 16 year old Honda Civic

Kids are gonna be grown up before we're thru kicking the tires on this discussion.
by Keim
Fri Apr 08, 2022 2:45 pm
Forum: Personal Consumer Issues
Topic: Grandma's 16 year old Honda Civic
Replies: 150
Views: 13416

Re: Grandma's 16 year old Honda Civic

That's not quite what that article says, though. That's its suggestion, but the various research work they're citing doesn't say that--it says that people don't always know what their safety features do, and it says that people may take time to switch to actively engaging. None of that says anything about overall safety. I guess we view the definition of overall safety very differently. I would argue that if the feature causes the driver to be less attentive or change their driving style, overall safety has been effected. Well, safety is not a matter of verbal arguments, opinions or feelings. Safety is a matter of whether autonomous features actually reduce or increase accidents and deaths overall. This would balance any reduction in safet...
by Keim
Fri Apr 08, 2022 1:55 pm
Forum: Personal Consumer Issues
Topic: Grandma's 16 year old Honda Civic
Replies: 150
Views: 13416

Re: Grandma's 16 year old Honda Civic

This new study supports those of us saying the newest safety features can be dangerous for several reasons. https://www.axios.com/autonomous-cars-self-driving-safe-dangerous-tesla-9ff8c89c-6018-4aa0-b997-72a440fcea3c.html That's not quite what that article says, though. That's its suggestion, but the various research work they're citing doesn't say that--it says that people don't always know what their safety features do, and it says that people may take time to switch to actively engaging. None of that says anything about overall safety. I guess we view the definition of overall safety very differently. I would argue that if the feature causes the driver to be less attentive or change their driving style, overall safety has been effected....
by Keim
Fri Apr 08, 2022 11:34 am
Forum: Personal Consumer Issues
Topic: Grandma's 16 year old Honda Civic
Replies: 150
Views: 13416

Re: Grandma's 16 year old Honda Civic

This new study supports those of us saying the newest safety features can be dangerous for several reasons.

https://www.axios.com/autonomous-cars-s ... cea3c.html
by Keim
Wed Mar 30, 2022 12:01 pm
Forum: Personal Consumer Issues
Topic: Grandma's 16 year old Honda Civic
Replies: 150
Views: 13416

Re: Grandma's 16 year old Honda Civic

All of these features are intended to make up for the following: I'm too busy to pay attention I'm too busy to pay attention I'm too busy to pay attention I'm too busy to pay attention I'm too busy to pay attention I'm too busy to pay attention I'm too busy to pay attention Taking high performance driving classes and getting track time to use those skills with an instructor in the passenger seat trump every single one of these features. 2 hands on the wheel at all times. No phone in view. If the kids scream, yell, do anything needing you to address them, PULL OVER and then address them. Otherwise, call a taxi and let someone who might be able to pay attention drive. I feel the same way about brakes. Racing bikes don't have brakes. Brakes i...
by Keim
Tue Mar 29, 2022 2:43 pm
Forum: Personal Consumer Issues
Topic: Grandma's 16 year old Honda Civic
Replies: 150
Views: 13416

Re: Grandma's 16 year old Honda Civic

EnerJi wrote: Tue Mar 29, 2022 2:31 pm But, I do take exception to purported multi-millionaires "boasting" about driving their multi-decade-old vehicles as if it's a point of pride. It's not.
Not a multi-millionaire, but commenting anyhow: I don't bring up the age of my vehicles as a statement of pride. It's a statement of fact about what I drive. In this case it's an insight into where any commentary I'm making is based from.

Another statement of fact: Well maintained older cars are perfectly safe when driven by a competent driver.
by Keim
Sun Mar 27, 2022 4:28 pm
Forum: Personal Consumer Issues
Topic: Grandma's 16 year old Honda Civic
Replies: 150
Views: 13416

Re: Grandma's 16 year old Honda Civic

You do give a nice laundry list of newer safety features. Thing is, aside from the back up camera I simply don't consider them very important-thus my previous comment. I will take an attentive driver that is comfortable in their car over all of those but the camera. That car has most modern safety features. No, it does not, as I outline in my previous comment right above. And your mom is familiar with it. She will be less safe in a vehicle she does not know well. How well did she know her current vehicle when she first got it? 🤔 I'm thinking she is likely to adjust. And some new features are annoying, maybe to the point of making newer vehicles less safe in some respects than older ones. Any examples? I'm skeptical.
by Keim
Sun Mar 27, 2022 9:42 am
Forum: Personal Consumer Issues
Topic: Grandma's 16 year old Honda Civic
Replies: 150
Views: 13416

Re: Grandma's 16 year old Honda Civic

That car has most modern safety features. And your mom is familiar with it. She will be less safe in a vehicle she does not know well.

Well maintained elderly cars aren't automatically the problem elderly drivers are.

The most I would do is offer to pay to have a mechanic look it over making certain it is in good shape-fixing anything that isn't.

PS: the avg age of my vehicle fleet is 26...
by Keim
Wed Mar 09, 2022 12:09 am
Forum: Personal Finance (Not Investing)
Topic: State University Employee [Need 529 Plan Info]
Replies: 20
Views: 1677

Re: State University Employee

Incorrect. U of Idaho offers a reduced tuition for staff children
MathWizard wrote: Tue Mar 08, 2022 11:01 am
sailaway wrote: Tue Mar 08, 2022 9:31 am Are you tenured? Does your state allow your dependent to attend any state university or only the one you work at?

Are you maxing out your retirement options? This is a put on your own mask first situation.
There is no rule that a dependent of University faculty or staff must attend that same state university.

If you are talking about free or reduced tuition:

I've never heard of a state university that offered free or reduced tuition to dependents of faculty or staff,
I believe that is just a private university thing, and probably not all private universities.
by Keim
Tue Jan 18, 2022 10:40 am
Forum: Personal Consumer Issues
Topic: Tube amplifier for home stereo
Replies: 35
Views: 3704

Re: Tube amplifier for home stereo

I dont think they sell tubes. Just cool upgrades.
by Keim
Mon Jan 17, 2022 3:43 pm
Forum: Personal Consumer Issues
Topic: Tube amplifier for home stereo
Replies: 35
Views: 3704

Re: Tube amplifier for home stereo

If you have the $$ for McIntosh go for it. There are other less expensive sonic options. I had a Dynaco ST-70 that sounded as good as anything I've ever heard. I'd hear details in records that I'd never heard before. Lush arrangements such as Buddy Miles's "Them Changes" were transformed into something cosmic. There are Chinese versions of the ST-70 for a couple of hundred bucks that sound really good. As well the 70s Marantz solid state amps are worth considering, they were bottom-heavy to mimic tube warmth. Just remember that the speakers are the hugest variable and that (IMHO) vintage 3-ways with a 12" or 15' woofer are needed for the tubes to punch right. I love my Dynaco ST-70! My only concern is what replacement tubes ...
by Keim
Mon Jan 17, 2022 12:59 pm
Forum: Personal Consumer Issues
Topic: Tube amplifier for home stereo
Replies: 35
Views: 3704

Re: Tube amplifier for home stereo

I can recommend Bottlehead tube amp kits.

I have built their Foreplay preamp, Paramour monoblock amps and Seduction phono pre. I currently run those with an AkitikA SS amp on subwoofers and a minidsp 2x4hd managing it all. Best sound Ive heard.

Both of the above kit suppliers had great instructions and tech support.
by Keim
Sun Nov 07, 2021 6:47 pm
Forum: Personal Consumer Issues
Topic: Can I buy this furniture? Should I?
Replies: 49
Views: 4954

Re: Can I buy this furniture? Should I?

A few random thoughts.
1. Expensive furniture and kids are a bad match.

2. Having kids has a way of changing things: priorities, lifestyles, living arrangements, etc.

3. Id wait a year and see if expensive furniture still rates as a top 10 priority.

4. The used market can save you big dollars here. And, if you truly are concerned about the environment its a very responsible way to go. Antique furniture tends to be better made then new mid level stuff, and is very economical right now.
by Keim
Sun Mar 28, 2021 12:19 pm
Forum: Personal Consumer Issues
Topic: Ethical question about PayPal transaction
Replies: 16
Views: 1671

Re: Ethical question about PayPal transaction

I think OP is in the clear ethically.

Being ethical is not the same as being kind.

Since I strive to be ethical and kind, I'd contact the seller.
by Keim
Mon Jan 18, 2021 6:21 pm
Forum: Personal Investments
Topic: Where would you tell a 20 yo to invest 5000$
Replies: 59
Views: 5137

Re: Where would you tell a 20 yo to invest 5000$

First thing I’d do is make sure he knows that the dollar sign precedes the number: $ 5000. Always has. You’ve not mentioned any timeline so it’s hard to say. But if you spell it out, you say "5000 dollars," not "dollars 5000" ;-) Just saying!! But the $ goes before the amount so a digit can't be fraudulently added, which would greatly increase the total amount. Putting the $ after places it where any fraudulent amount is negligible. To the OP: Last month I advised my 19 yo to invest in Vanguard Target 2065. I made it clear it was a good all in one fund. We discussed expense ratio and bond vs stock balance. I told her when she has built up 20k or so I'd have further advice about a simple 3 fund portfolio.
by Keim
Sat Jan 09, 2021 10:45 am
Forum: Personal Consumer Issues
Topic: Is there a forum for people with first world problems.
Replies: 77
Views: 4829

Re: Is there a forum for people with first world problems.

In addition to Bogleheads I suggest www.early-retirement.org. If you think you'll be able to retire early, most problems beside health will be first world.
by Keim
Sun Dec 27, 2020 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Raising Kids in a FI Family
Replies: 53
Views: 5458

Re: Raising Kids in a FI Family

I am conflicted about how to raise my kids. I cannot honestly teach them that the path to wealth and success is hard work and sacrifice because that is not how I came into my wealth and success. Nor can I point to the many, many hard working and sacrificing people we come into contact with (house cleaners, landscapers) and say that their diligence will eventually pay off. Nihilism may be the only option here. Yeah, that’s a tough one..... My kid was complaining once about hard work at school. I just told her, “look, everybody works hard. It’s not a choice. But everybody gets paid differently, and your choices impact that”. Then we went to Chipotle, and I told her everybody at Chipotle works just as hard as me, but doesn’t get paid much. I ...
by Keim
Sun Dec 27, 2020 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Raising Kids in a FI Family
Replies: 53
Views: 5458

Re: Raising Kids in a FI Family

Our kids are 15 and 19. 19yo just spoke with me today about setting up a retirement account with Vanguard Retirement 2065 (iirc). We've rarely explicitly talked money. With me working at a nonprofit I started and DW a mid-level state worker they know we don't bring in huge dollars. Our kids financial education consisted of: 1. Not hiding our own necessary (bills, mortgage, etc) financial talk from them. 2. We buy the basics, they paid for luxuries. This meant they both got jobs. Example: a. each took trips to Europe. We paid half, they paid the other. b. Clothes. They want fancy they pay. We buy, and it may be 2nd hand. 3. We shop discount and used stores. 4. At age 12 I asked each to read The Millionaire Next Door and discussed it. The mir...
by Keim
Mon Dec 07, 2020 8:31 pm
Forum: Personal Finance (Not Investing)
Topic: I feel like my friend is about to make a massive financial mistake
Replies: 153
Views: 24956

Re: I feel like my friend is about to make a massive financial mistake

FIREchief wrote: Mon Dec 07, 2020 7:16 pm
Keim wrote: Mon Dec 07, 2020 6:58 pm
quantAndHold wrote: Mon Dec 07, 2020 10:06 am I would suggest to the friend that since he’s the one with the cash, he should have his own lawyer representing his own interests when the LLC is being formed. The lawyer can work out how to protect his interests.

And then I would let it drop, and just be his friend.
I was going to say similar. Suggest he has lawyer look over partnership. Then you can step back and be his supportive friend. Any decent lawyer will [OT comment removed by admin LadyGeek] point out the massive pitfalls here.
:P (I'm guessing not those exact words....) 8-)
My lawyer friends might... ;)
by Keim
Mon Dec 07, 2020 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: I feel like my friend is about to make a massive financial mistake
Replies: 153
Views: 24956

Re: I feel like my friend is about to make a massive financial mistake

quantAndHold wrote: Mon Dec 07, 2020 10:06 am I would suggest to the friend that since he’s the one with the cash, he should have his own lawyer representing his own interests when the LLC is being formed. The lawyer can work out how to protect his interests.

And then I would let it drop, and just be his friend.
I was going to say similar. Suggest he has lawyer look over partnership. Then you can step back and be his supportive friend. Any decent lawyer will [OT comment removed by admin LadyGeek] point out the massive pitfalls here.
by Keim
Sun Dec 06, 2020 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing Hunting Land
Replies: 102
Views: 10474

Re: Purchasing Hunting Land

You seem to be in a good financial place. If kids enter the picture and one of you decided to stay home will the land expense be too much?

If your answer is no, I'd buy. It's undeveloped land. If you've bought at a fair price you can likely sell with little risk if not in a hurry.

Only regret with my cabin is not getting it earlier.
by Keim
Wed Nov 11, 2020 11:09 am
Forum: Personal Consumer Issues
Topic: Should I sell my classic BMW?
Replies: 29
Views: 2951

Re: Should I sell my classic BMW?

You can easily afford it. It's in good shape. You like it. I don't hear any warning bells. I'd keep it.

In fact, when I was in a similar position regarding my 76 Monte Carlo I went further than you. I spent about $10k to fix it up for another 20 years. Foolish waste of money. Nice lifestyle choice.

Enjoy your BMW.
by Keim
Wed Oct 14, 2020 11:21 am
Forum: Personal Consumer Issues
Topic: Do they still make simple washing machines without any computer chips?
Replies: 108
Views: 63904

Re: Do they still make simple washing machines without any computer chips?

The short lifespan of the modern units may negate any environmental advantages. There's a lot of energy consumed in manufacturing something that won't last that long before getting sent to the landfill, or perhaps recycled. Interesting. I chose a washer that is well made and fully expect it to last a long time. "Modern" washers (now called high efficiency in USA) have been in use in Europe for many, many decades and have lasted just fine. If something goes wrong, I will repair it, not try to purchase and older agitating water wasting fabric beater. HE washers have been around in the US for decades as well, thought you'd never know it by this thread 8-) They're better in pretty much every way than the old mechanical washers but he...
by Keim
Wed Oct 14, 2020 12:18 am
Forum: Personal Consumer Issues
Topic: Do they still make simple washing machines without any computer chips?
Replies: 108
Views: 63904

Re: Do they still make simple washing machines without any computer chips?

Yes they do, but your power and water bill will almost certainly go up. What do you think all those computer chips in there are meant to do, anyway? Scare the heck out of people who believe technology reached its apex with the so-reliable 1970 Chevrolets and American style why-care-about-resources-and-our-environment washers common 50 years ago. The short lifespan of the modern units may negate any environmental advantages. There's a lot of energy consumed in manufacturing something that won't last that long before getting sent to the landfill, or perhaps recycled. Interesting. I chose a washer that is well made and fully expect it to last a long time. "Modern" washers (now called high efficiency in USA) have been in use in Europ...
by Keim
Mon Oct 12, 2020 6:34 pm
Forum: Personal Consumer Issues
Topic: Favorite Horror Books
Replies: 40
Views: 3178

Re: Favorite Horror Books

My fav horror writer of recent years is Joe Hill. Check out NOS4A2. Excellent!

He is the son of a famous writer, but deserves separate recognition. He's excellent in his own.
by Keim
Sun Oct 11, 2020 11:57 pm
Forum: Personal Consumer Issues
Topic: Do they still make simple washing machines without any computer chips?
Replies: 108
Views: 63904

Re: Do they still make simple washing machines without any computer chips?

criticalmass wrote: Sun Oct 11, 2020 8:01 pm
Tingting1013 wrote: Sun Oct 11, 2020 7:46 pm Yes they do, but your power and water bill will almost certainly go up.

What do you think all those computer chips in there are meant to do, anyway?
Scare the heck out of people who believe technology reached its apex with the so-reliable 1970 Chevrolets and American style why-care-about-resources-and-our-environment washers common 50 years ago.
We recently bought a Speedqueen set. It replaced a 25 year old Kenmore set I had repaired a few times, until the motor went out. It is quieter, quicker and made better. I suspect it will last longer than most computer based sets.

I also still drive my 1976 Monte Carlo, which has proven to be a very reliable vehicle over the past 30+ years of ownership. :D
by Keim
Sat Oct 03, 2020 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Am I crazy? Cabin advice
Replies: 76
Views: 10424

Re: Am I crazy? Cabin advice

Olemiss540 wrote: Fri Aug 28, 2020 6:10 pm 600k screams less "cabin" and more "lake front vaca home".

Cabin is a $150k log heated getaway with little maintenance required....
Mine was a $50k log heated getaway... But it reqd a lot of initial maintenance. 😀