Search found 864 matches

by SQRT
Sat Oct 20, 2018 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 93
Views: 9935

Re: What do you consider 'enough'?

#4, all of the above. Same here. Spending has probably ramped up 10% or so, plus I'm a little less obsessive about it. But I still couldn't justify buying a couple of business class seats on the last long airplane trip. Maybe after a few more years if/when I'm less tolerant of economy-class seats. ...
by SQRT
Sat Oct 20, 2018 8:02 am
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 93
Views: 9935

Re: What do you consider 'enough'?

So here is a follow on question. Let’s assume that for whatever reason you end up with more than enough. Do you: 1) increase your lifestyle and if so how much, 2) simply watch the portfolio increase over time and probably end up with a larger legacy or end of life health care expenses, 3) give more ...
by SQRT
Fri Oct 19, 2018 1:54 am
Forum: Personal Finance (Not Investing)
Topic: Kids & Money
Replies: 5
Views: 852

Re: Kids & Money

I think the best lessons are shown by example. I never listened to anything my father said, but I certainly observed ,respected, and learned from his wise financial moves.
by SQRT
Fri Oct 19, 2018 1:16 am
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 93
Views: 9935

Re: What do you consider 'enough'?

Consider giving what you don't need to your heirs. It should make everyone happy while you are alive. Best wishes. Taylor Agree. And working on this. I think the older one gets, the easier this might be as uncertainties decrease while spending probably decreases as well. As we get older uncertainti...
by SQRT
Thu Oct 18, 2018 7:05 am
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 93
Views: 9935

Re: What do you consider 'enough'?

I reverse the question. Enough is how much I have. Never had a “number”. Got very lucky and ended up with a lot. This is enough. Set my lifestyle to the amount I ended up with. Not the other way around. Not representative, I know. Yes. Enough was my goal. Not more. Ended up with more than enough. G...
by SQRT
Wed Oct 17, 2018 8:26 am
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 93
Views: 9935

Re: What do you consider 'enough'?

I reverse the question. Enough is how much I have. Never had a “number”. Got very lucky and ended up with a lot. This is enough. Set my lifestyle to the amount I ended up with. Not the other way around. Not representative, I know.
by SQRT
Wed Oct 17, 2018 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Did you retire because you hit your number?
Replies: 71
Views: 6274

Re: Did you retire because you hit your number?

I retired because my career wasn’t fun anymore. I have to admit that this happened once I had reached FI. I reached FI suddenly with little actual planning or methodical saving. One day I was worth almost nothing and in a few years was wealthy beyond any reasonable expectation. Didn’t really have a ...
by SQRT
Mon Oct 15, 2018 9:01 am
Forum: Personal Consumer Issues
Topic: How Much Is Your Sewer Bill?
Replies: 78
Views: 3915

Re: How Much Is Your Sewer Bill?

Water averages about $500 per month. Lots of pool evaporation and irrigation. Sewer and other small miscellaneous municipal charges currently about $130 per month. Paradise Valley Arizona. Water pretty expensive in the dessert.
by SQRT
Sun Oct 14, 2018 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Neighbor discussing finances with me
Replies: 64
Views: 5919

Re: Neighbor discussing finances with me

Unless your neighbor asks, point blank, “So, what do you think?”, he really just wants affirmation. Period. Agree. I am the most successful person in our extended family and have work experience and an education in finance. I sometimes get asked for advice but not as often as you might expect. Rece...
by SQRT
Fri Oct 05, 2018 7:23 am
Forum: Personal Consumer Issues
Topic: Fall Foliage
Replies: 29
Views: 2279

Re: Fall Foliage

Currently at our lake house near Bancroft in Ontario. The colours are very slow this year and probably won’t peak until next week which is about 2 weeks late. Starting to look very nice now though.
by SQRT
Tue Oct 02, 2018 7:35 am
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 635
Views: 78143

Re: How much money do you want to retire?

It’s interesting how health care costs figure so prominently in this discussion. At first I thought “boy, glad I’m Canadian” but even then we budget about $18k for health care expenses per year above what our “Govt supported” plan pays. In fact this year we spent much more than that (whole new mouth...
by SQRT
Mon Oct 01, 2018 6:57 am
Forum: Personal Finance (Not Investing)
Topic: Why is Home Part of NW [Net Worth]
Replies: 98
Views: 6709

Re: Why is Home Part of NW [Net Worth]

I calculate net worth but only “in my head” rounded to nearest million. I include my portfolio, PV of my pension, and real estate. Don’t bother with cars,furniture,art,etc. When I think about our legacy, I exclude my pension. Our real estate might represent about 20% of our total net worth. Other th...
by SQRT
Fri Sep 28, 2018 9:16 am
Forum: Personal Consumer Issues
Topic: What is your single most expensive mistake?
Replies: 293
Views: 25235

Re: What is your single most expensive mistake?

Marrying my first wife. I figure total cost in the $5-10 million range. Was able to overcome this but it was touch and go for a while. One good result was now have a wonderful daughter. Impossible to put a price on that.
by SQRT
Thu Sep 27, 2018 1:23 am
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 635
Views: 78143

Re: How much money do you want to retire?

It seems like no one is ever really content with what they have - as soon as they reach a huge amount of net worth for retirement, I see people moving the goalpost further out. Right, but there are good reasons for that. There is a lot of uncertainty around health care and long-term care. The older...
by SQRT
Thu Sep 20, 2018 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgages - Pros, Cons
Replies: 55
Views: 3956

Re: Reverse Mortgages - Pros, Cons

It can be a great product. Problem is the fees and interest rate. In Canada the rates can easily be 3% higher than a conventional mortgage.
by SQRT
Wed Sep 19, 2018 8:07 pm
Forum: Personal Consumer Issues
Topic: Did you really have something to retire to?
Replies: 133
Views: 11654

Re: Did you really have something to retire to?

Had a vague idea. Wanted to spend more time on fitness and travel and we did. After about 6 months we decided we wanted to move to the mountains and take up skiing and mountain biking. Did that too. About 5 years later we decided we wanted a snow bird place. Did that too. Lots of fun meeting new peo...
by SQRT
Tue Sep 18, 2018 9:39 am
Forum: Personal Finance (Not Investing)
Topic: How did you decide when to retire?
Replies: 54
Views: 8242

Re: How did you decide when to retire?

Many people say that, if they continue to work, it is not for money. Well, I have reached FI early this year and I continue to work. It is not because I love my work, it is because of the uncertainties. Eventually it is about money. If I have three times as much as I have now, I swear that I am goi...
by SQRT
Sat Sep 15, 2018 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: How did you decide when to retire?
Replies: 54
Views: 8242

Re: How did you decide when to retire?

I decided to retire when the hassle of working started to exceed the added savings from continuing. This depends on 2 factors 1) your attitude towards your job and 2)how much more you can save if you continue working. This happened shortly after I reached FI but it took me about 3 years to train my ...
by SQRT
Sat Sep 15, 2018 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Vacation house? Need objective third party
Replies: 67
Views: 6098

Re: Vacation house? Need objective third party

Don’t buy houses you can’t get to , inspect/work on, and get back from within a day Also for better or worse, summers have changed drastically for most motivated kids - attending TIP programs, specialized camps, pseudo internships, not lazing around lakes. One malady of many affluent parents, raisi...
by SQRT
Sat Sep 15, 2018 9:56 am
Forum: Personal Finance (Not Investing)
Topic: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?
Replies: 118
Views: 11455

Re: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?

The assumption that all people who like/love their jobs don’t have any other interests in their lives is clearly false. For this to be true everyone who enjoys their job/career would have to be a “workaholic”. I had plenty of “outside interests” while working and hardly worked more than 50 hours a ...
by SQRT
Fri Sep 14, 2018 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Vacation house? Need objective third party
Replies: 67
Views: 6098

Re: Vacation house? Need objective third party

unless its under 2.5hr drive each way, rent. Generally solid advice although not always practical. Our first vacation home was a lake house about 2 hours from the city. Used almost every weekend to “wind down” from our intense jobs. Still love it after 21 years. Once we retired though we wanted oth...
by SQRT
Fri Sep 14, 2018 10:29 am
Forum: Personal Finance (Not Investing)
Topic: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?
Replies: 118
Views: 11455

Re: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?

Agree. But “Being the richest man in the graveyard” is usually a metaphor describing someone who doesn’t like to spend money while alive and ends up leaving it to others when they die. I certainly don’t plan on this and am enjoying any wealth I have while alive. Having said that, it will be impossi...
by SQRT
Fri Sep 14, 2018 9:49 am
Forum: Personal Finance (Not Investing)
Topic: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?
Replies: 118
Views: 11455

Re: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?

Being the richest man in the graveyard is not that bad, very likely the man was the richest when he was alive and enjoyed all that richness could bring. Agree. But “Being the richest man in the graveyard” is usually a metaphor describing someone who doesn’t like to spend money while alive and end u...
by SQRT
Fri Sep 14, 2018 9:16 am
Forum: Personal Finance (Not Investing)
Topic: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?
Replies: 118
Views: 11455

Re: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?

I think on balance I did make the right choice but the longer I am retired the less sure I am. I suspect it might be due to gradually “forgetting” how stressful the job was. In any event,I was trying to point out the relatively rare point of view (around here at least) that one can derive satisfact...
by SQRT
Fri Sep 14, 2018 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Vacation house? Need objective third party
Replies: 67
Views: 6098

Re: Vacation house? Need objective third party

The question really wasn't if one would do this as a personal preference, but rather if he could afford it/whether it made financial sense. Yes, and we all agree he can afford it. My point was that it’s a lifestyle choice not really a financial one. It’s always better not to spend too much and rent...
by SQRT
Thu Sep 13, 2018 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Vacation house? Need objective third party
Replies: 67
Views: 6098

Re: Vacation house? Need objective third party

The question really wasn't if one would do this as a personal preference, but rather if he could afford it/whether it made financial sense. Yes, and we all agree he can afford it. My point was that it’s a lifestyle choice not really a financial one. It’s always better not to spend too much and rent...
by SQRT
Thu Sep 13, 2018 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Vacation house? Need objective third party
Replies: 67
Views: 6098

Re: Vacation house? Need objective third party

I don’t see the appeal. Rent for a month on the lake. Yes, it is a personal thing. Many people don’t see the “appeal” but many others do. Going back to a place you control and is always available appeals to some people. Your clothes in the closets, your boat at the dock, your furnishings and art. M...
by SQRT
Thu Sep 13, 2018 10:56 am
Forum: Personal Finance (Not Investing)
Topic: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?
Replies: 118
Views: 11455

Re: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?

Many people climb the corporate ladder because they enjoy having more responsibility, more control, etc. - not everyone is doing it purely for financial reasons. If you are comfortable at the level you are at I wouldn't go out of my way to move forward if the additional responsibilities don't inter...
by SQRT
Thu Sep 13, 2018 10:54 am
Forum: Personal Finance (Not Investing)
Topic: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?
Replies: 118
Views: 11455

Re: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?

I reached my ultimate goal in my career at age 48. It was what I always wanted and worked for. After 3-5 years of working in this position I was FI by quite a wide margin. Did my work ethic and drive diminish? Disappointingly it did. I regret this even now after 12 years of retirement. Wish I could...
by SQRT
Thu Sep 13, 2018 10:26 am
Forum: Personal Finance (Not Investing)
Topic: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?
Replies: 118
Views: 11455

Re: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?

You know when you die, nobody is going to say, "He was a great middle manager," on the obituary. Right, I know what you are getting at. However, obits often talk about a deceased’s business career. Usually if the subject of the obit felt their career was important or perhaps successful. In any even...
by SQRT
Thu Sep 13, 2018 9:34 am
Forum: Personal Finance (Not Investing)
Topic: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?
Replies: 118
Views: 11455

Re: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?

I reached my ultimate goal in my career at age 48. It was what I always wanted and worked for. After 3-5 years of working in this position I was FI by quite a wide margin. Did my work ethic and drive diminish? Disappointingly it did. I regret this even now after 12 years of retirement. Wish I could ...
by SQRT
Thu Sep 13, 2018 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Vacation house? Need objective third party
Replies: 67
Views: 6098

Re: Vacation house? Need objective third party

Vacation homes are luxury lifestyle items. As such my opinion is you should generally pay cash for them. This will help you decide if you can afford them (certainly looks like you can) and if you really want it badly enough. Would you borrow money for an expensive watch, or Ferrari? I wouldn’t. We b...
by SQRT
Tue Sep 11, 2018 1:10 pm
Forum: Personal Consumer Issues
Topic: What will you do when you find you have more money than expected?
Replies: 91
Views: 9885

Re: What will you do when you find you have more money than expected?

#1. I'm with Saul on this one, I want the last check I ever write to bounce. https://m.youtube.com/watch?v=fwqW1laFbg0 I never bought into the last-check-bouncing strategy. IMHO, it assumes you know precisely when you are going to die. I've had to advise family members that if they plan to die brok...
by SQRT
Tue Sep 11, 2018 8:26 am
Forum: Personal Consumer Issues
Topic: What will you do when you find you have more money than expected?
Replies: 91
Views: 9885

Re: What will you do when you find you have more money than expected?

Obviously, you don’t want to create a sense of entitlement or reduce their work ethic. Simple, not easy. Takes a lot of work to achieve that state before you get to giving money to them. Good point. In the case of my daughter, she just seemed to be a hard working ,unentitled person from the start. ...
by SQRT
Tue Sep 11, 2018 3:07 am
Forum: Personal Finance (Not Investing)
Topic: Anyone else playing catch-up in their 40's?
Replies: 68
Views: 7337

Re: Anyone else playing catch-up in their 40's?

Terrible divorce at age 42 just about wiped me out. Took about 5-8 years to get back on track and by age 50 was OK. Things continued to improve and by 56 was retired with very well funded lifestyle. Don’t despair or give up. It’s never too late.
by SQRT
Tue Sep 11, 2018 2:16 am
Forum: Personal Consumer Issues
Topic: What will you do when you find you have more money than expected?
Replies: 91
Views: 9885

Re: What will you do when you find you have more money than expected?

Obviously, different people will have different comfort levels for gifting to their kids based on their personal finances. And also, different priorities. There is no one answer to how much and when to gift to kids. My preferences in part reflect that I received a large inheritance after I retired....
by SQRT
Mon Sep 10, 2018 1:18 am
Forum: Personal Consumer Issues
Topic: Go to Istanbul next week. Any suggestions
Replies: 50
Views: 3845

Re: Go to Istanbul next week. Any suggestions

Had a fabulous trip to Turkey in 2010. Major attractions well described earlier in the thread. Bosporus cruise a must. We also rented a wooden sailing ship (called Gulet) for a week out of Bodrum. Was a high point.
by SQRT
Mon Sep 10, 2018 12:55 am
Forum: Personal Consumer Issues
Topic: What will you do when you find you have more money than expected?
Replies: 91
Views: 9885

Re: What will you do when you find you have more money than expected?

Basically, this happened to me. In the few years prior to retirement (12 years ago at age 56) my net worth doubled unexpectantly. This allowed for a much better funded retirement than we were expecting. What did we do? Mostly Increased our retirement lifestyle. But we did this gradually over several...
by SQRT
Sat Sep 08, 2018 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Thoughts on buying a pre-owned Mercedes Benz cash?
Replies: 46
Views: 4084

Re: Thoughts on buying a pre-owned Mercedes Benz cash?

ChinchillaWhiplash wrote:
Sat Sep 08, 2018 8:42 am
Lexus, Infiniti, or Accura? Those might be a better choice. Cheaper and less expensive maintenance. Comparable quality, comfort and performance.
I would beg to differ on “performance”. Certainly with regard to AMG or M models.
by SQRT
Sat Sep 08, 2018 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Thoughts on buying a pre-owned Mercedes Benz cash?
Replies: 46
Views: 4084

Re: Thoughts on buying a pre-owned Mercedes Benz cash?

I drive a BMW M5 which is comparable to some of the cars you mention. Getting a 2 year old used M5 with manufacturers extended warranty (BMW’s version goes out for a total of 6 years) would make some sense. Never owned a MB as I really like the handling characteristics of BMW’s. Buy what you enjoy (...
by SQRT
Fri Sep 07, 2018 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Using your home as old age care self-insurance?
Replies: 74
Views: 5851

Re: Using your home as old age care self-insurance?

My mother decided she needed to move to an assisted living facility when she was close to 88. (My father passed away several years prior). For a few years before that we hired personal care workers to help her as she had pretty well lost her mobility. Sold her condo at that time ($520k) and these fu...
by SQRT
Wed Sep 05, 2018 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Score [What changes your credit score?]
Replies: 42
Views: 3492

Re: Credit Score

As a banker I will say credit scores are a very good, but not perfect, substitute for "old school" underwriting. They are great for mass market, high volume decisions on standardized products. However, as I'm sure everyone here is aware, they ignore income, ignore total monthly pay offs of credit c...
by SQRT
Wed Sep 05, 2018 7:02 am
Forum: Personal Finance (Not Investing)
Topic: Credit Score [What changes your credit score?]
Replies: 42
Views: 3492

Re: Credit Score

runner3081 wrote:
Wed Sep 05, 2018 4:48 am

Besides, people are too hung up over credit scores.
Yes, agree. It’s like some people really don’t want to pay their debt down, but rather get really good at borrowing? Your playing “their” game.
by SQRT
Mon Sep 03, 2018 8:25 am
Forum: Personal Finance (Not Investing)
Topic: Emergency fund size
Replies: 72
Views: 6505

Re: Emergency fund size

We are retired with very stable cash flow (pensions and dividends) so don’t really need an emergency fund per se. Divs and expenditures can be quite lumpy though so having a reasonable cash buffer is needed to manage this. After 12 years of retirement I have determined that low to mid 6 digits of ca...
by SQRT
Sun Sep 02, 2018 9:02 am
Forum: Investing - Theory, News & General
Topic: Can margin be beneficial for long-term investing?
Replies: 61
Views: 3702

Re: Can margin be beneficial for long-term investing?

When I was younger and still working, I used margin loans a fair bit. Worked out very well. In addition, I also had an employee benefit where my employer would lend me funds to buy theIr stock. Very small amortization required and interest rate was set at the div rate when the loan was taken out. Re...
by SQRT
Tue Aug 28, 2018 8:48 am
Forum: Personal Finance (Not Investing)
Topic: How do you 7 figure guys organize multiple accounts?
Replies: 164
Views: 12020

Re: How do you 7 figure guys organize multiple accounts?

I keep everything at one bank/broker. It shows up in totality when I login. Spreadsheets to track expenses/cash flow planning/anything else I need. Very simple is the way I like it.
by SQRT
Sun Aug 26, 2018 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: How do you calculate net worth with pensions?
Replies: 105
Views: 6741

Re: How do you calculate net worth with pensions?

I've calculated the net present value of my pension and our Social Security. The sum is about equal to our investment net worth. I've used this information a few ways all qualitative or semi-quantitative. The net present value and income of pensions and Social Security gives me confidence in our pl...
by SQRT
Sun Aug 26, 2018 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: How do you calculate net worth with pensions?
Replies: 105
Views: 6741

Re: How do you calculate net worth with pensions?

Everything ends when you die. A pension is not an asset. It does not survive my death (and the death of my spouse) and is not considered when my estate is taxed. That may be true for your pension, but that is not true of all pensions. My pension has options such as 5, 10, 20 year certain. My spouse...
by SQRT
Sun Aug 26, 2018 9:48 am
Forum: Personal Finance (Not Investing)
Topic: How do you calculate net worth with pensions?
Replies: 105
Views: 6741

Re: How do you calculate net worth with pensions?

I have never included it in my assets. it ends when we die, can't rebalance ..... Agree that it’s ends at some point. Why would that be a reason to “not include it”. Everything ends when you die. While alive you could take it into account when determining your AA. Certainly don’t have to slavishly ...
by SQRT
Sun Aug 26, 2018 9:11 am
Forum: Personal Finance (Not Investing)
Topic: How do you calculate net worth with pensions?
Replies: 105
Views: 6741

Re: How do you calculate net worth with pensions?

I've calculated the net present value of my pension and our Social Security. The sum is about equal to our investment net worth. I've used this information a few ways all qualitative or semi-quantitative. The net present value and income of pensions and Social Security gives me confidence in our pl...