Search found 1160 matches

by SQRT
Mon Oct 14, 2019 8:19 am
Forum: Personal Finance (Not Investing)
Topic: What’s the proper way to pay yourself in retirement?
Replies: 62
Views: 6671

Re: What’s the proper way to pay yourself in retirement?

I’ve been retired for 13 years. For the first 10 years of retirement I simply spent divs and interest (all accounts are taxable). My portfolio grew to the point that it looked like it would be larger than I wanted, on my demise. Accordingly, I started liquidating some stock each quarter to supplemen...
by SQRT
Mon Oct 14, 2019 7:53 am
Forum: Personal Finance (Not Investing)
Topic: Should I invest in a ski in / ski out condo?
Replies: 43
Views: 3791

Re: Should I invest in a ski in / ski out condo?

Personal use, second homes are lifestyle not investment decisions. If you think you will enjoy the place, use it frequently, and can afford it, buy it. A good test demonstrating affordability is to buy it for cash. They can be expensive, like most things in life, but as long as you think it is worth...
by SQRT
Thu Oct 10, 2019 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Married with Separate bank accounts
Replies: 44
Views: 3521

Re: Married with Separate bank accounts

Just out of curiousity, a few question for those that keep separate investments. Do you manage the portfolio as separate or combined for things such as asset allocation, rebalancing, and tax efficient placement? Do you do tax loss harvesting. How do you make sure there are not wash sales triggered ...
by SQRT
Wed Oct 09, 2019 8:22 am
Forum: Personal Finance (Not Investing)
Topic: What are your personal experiences with downside of early retirement?
Replies: 95
Views: 17112

Re: What are your personal experiences with downside of early retirement?

To a large extent I defined “who I was” through my job. It was very high profile with hundreds of “reports”. I had support staff to do most of the mundane, everyday tasks. Once retired (at 56) I had to re-envision who I was. Took about three years, I think, to go from “big shot Corp exec” to early r...
by SQRT
Wed Oct 09, 2019 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Anyone want to share their monthly budget? Here's ours
Replies: 131
Views: 26872

Re: Anyone want to share their monthly budget? Here's ours

MikeG62 wrote:
Wed Oct 09, 2019 7:09 am
SQRT wrote:
Fri May 24, 2019 7:44 am
Perhaps a separate thread for retirees? I would post mine to start one but too far out of normal range to be of much use.
Ha-ha, me too. We'd be assaulted by the frugal police if we did. :sharebeer
Right. Why get people all upset. :beer
by SQRT
Tue Oct 08, 2019 8:29 am
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6124

Re: What are the essential and discretionary expenses in a retirement budget?

Essential vs discretionary is a relative term that will change for each individual. Each individual could rank his expenditures along a continuum from essential to discretionary. Trying to compare definitions between different people will be difficult. Obviously more agreement is possible at the ext...
by SQRT
Mon Oct 07, 2019 7:45 am
Forum: Personal Finance (Not Investing)
Topic: Finance or Accounting Degree?
Replies: 81
Views: 5117

Re: Finance or Accounting Degree?

I got a CPA then went back to school part time to get an MBA(Finance). That order probably made the most sense. If I could only have one degree, it would have been the CPA I think. Then later on I also got a CFA in order to cover another aspect (investment management). I would recommend getting the ...
by SQRT
Thu Oct 03, 2019 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Wedding Finances-Today
Replies: 107
Views: 7506

Re: Wedding Finances-Today

We had a lavish wedding and greatly enjoyed ourselves. Over a decade later, family and friends still mention what a wonderful time they had. Likewise. I don’t think you should spend more than you can afford or try to impress others, but my daughter’s wedding was a fabulous, joyous event. She is ver...
by SQRT
Thu Oct 03, 2019 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Luxury condo
Replies: 56
Views: 4574

Re: Luxury condo

Real estate is totally location specific. We have a high rise, downtown (VHCL-Toronto), 1750 sq ft, condo, 24 hour concierge, two parking spots, well managed building. Our HOA (not covering utilities) is about $1,350/month. Condo worth about $1.5 million. The OP’s situation doesn’t sound off the mar...
by SQRT
Thu Oct 03, 2019 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Wedding Finances-Today
Replies: 107
Views: 7506

Re: Wedding Finances-Today

Hard to give advice re weddings. It’s very dependant on a lot of things such as your ability/desire to fund, ethnic background, location of wedding, personality/desires of your daughter, any previous discussions, relationship of parents (ie any x spouses involved?). My only daughter got married in 2...
by SQRT
Mon Sep 30, 2019 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Do you know what your partner spends money on?
Replies: 80
Views: 6011

Re: Do you know what your partner spends money on?

Retired for 13 years, married for 25. All accounts are joint but separate. We have a budget that covers all our joint expenses. Since our investment portfolios are separate as Canada does not allow joint tax filing, each of us must know our own incomes. She spends the divs and interest that is throw...
by SQRT
Tue Sep 24, 2019 9:32 am
Forum: Personal Finance (Not Investing)
Topic: How does a bank make money off you? How to ensure they don't
Replies: 69
Views: 7833

Re: How does a bank make money off you? How to ensure they don't

I must be an exception here or maybe Canadian banks are less aggressive, but I’ve been retired for about 13 years and have very high balances with my bank (checking, savings, discount brokerage). They have contacted me only once in this period to try to up sell me to an advisor account. Needless to ...
by SQRT
Wed Sep 18, 2019 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Managing joint finances when one is a perfectionist
Replies: 122
Views: 7654

Re: Managing joint finances when one is a perfectionist

The person with the interest and ability will usually perform that function in a marriage. I do the investments, cash flow planning, taxes, autos, insurance! grocery shopping and cooking. She does the credit cards, travel, decorating, most clothing decisions, our schedule. Lots of communicating back...
by SQRT
Thu Sep 12, 2019 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Overshooting Your Number and Discounting Your Starting Balance
Replies: 13
Views: 1360

Re: Overshooting Your Number and Discounting Your Starting Balance

Never really had a number. I figured more the better. Then I got tired of my job and started to think about retirement. At that point we had enough to support a lifestyle better than anything we had previously experienced (based on dividends alone). So 3 years later we pulled the plug. That was in 2...
by SQRT
Wed Sep 04, 2019 7:23 am
Forum: Personal Consumer Issues
Topic: Pre-paid Funeral Expenses
Replies: 66
Views: 3838

Re: Pre-paid Funeral Expenses

My mother prepaid her funeral about 25 years ago. It was the “deluxe” package. She died 2 months ago. During this period she changed her mind as to what she wanted in her funeral. In the end it was much cheaper than what she paid (plus interest) so her estate got a sizeable refund. Worked out fairly...
by SQRT
Sat Aug 31, 2019 9:05 am
Forum: Personal Finance (Not Investing)
Topic: What is your plan for the last few years of a long life?
Replies: 230
Views: 15242

Re: What is your plan for the last few years of a long life?

I’m 69, about the age my father first started showing signs of Alzheimer’s which eventually killed him at age 77. I have a increased probability to contract that disease (DNA testing). But so far so good. Staying fit and active apparently reduces your risk. The expense related to increased care late...
by SQRT
Tue Aug 27, 2019 11:48 am
Forum: Personal Finance (Not Investing)
Topic: How Have You Planned for Sequence of Return Risk (SOR)?
Replies: 167
Views: 9648

Re: How Have You Planned for Sequence of Return Risk (SOR)?

I wish you could explain this to me. Because to my thinking, it seems like 2009 was the absolutely worst case scenario for retirement in these SOR risk discussions. Agree the only thing to do was to bravely rebalance while your life savings tank. No more earned income to buy stocks cheaply. Best fr...
by SQRT
Tue Aug 27, 2019 9:33 am
Forum: Personal Finance (Not Investing)
Topic: How Have You Planned for Sequence of Return Risk (SOR)?
Replies: 167
Views: 9648

Re: How Have You Planned for Sequence of Return Risk (SOR)?

I wish you could explain this to me. Because to my thinking, it seems like 2009 was the absolutely worst case scenario for retirement in these SOR risk discussions. Agree the only thing to do was to bravely rebalance while your life savings tank. No more earned income to buy stocks cheaply. Best fr...
by SQRT
Tue Aug 27, 2019 8:46 am
Forum: Personal Finance (Not Investing)
Topic: How Have You Planned for Sequence of Return Risk (SOR)?
Replies: 167
Views: 9648

Re: How Have You Planned for Sequence of Return Risk (SOR)?

While many of these mitigants to SOR would be effective, they raise another issue. Namely, leaving a large, possibly unintended legacy. Probably a better solution (assuming a large legacy is sub optimal) would include a mechanism for ultimately increasing retirement spending once the SOR declines? ...
by SQRT
Tue Aug 27, 2019 8:20 am
Forum: Personal Finance (Not Investing)
Topic: How Have You Planned for Sequence of Return Risk (SOR)?
Replies: 167
Views: 9648

Re: How Have You Planned for Sequence of Return Risk (SOR)?

While many of these mitigants to SOR would be effective, they raise another issue. Namely, leaving a large, possibly unintended legacy. Probably a better solution (assuming a large legacy is sub optimal) would include a mechanism for ultimately increasing retirement spending once the SOR declines? N...
by SQRT
Sun Aug 25, 2019 10:05 am
Forum: Personal Finance (Not Investing)
Topic: White collars- How much is your work downtime?
Replies: 203
Views: 17028

Re: White collars- How much is your work downtime?

My work style is rather unusual. I spend about 4 hours per day doing what most people would consider work--in meetings, giving presentations, whatever. The rest of my day is spent in a kind of internal dialogue or meditation. This can take place anywhere--on a treadmill, in a cafe, in a pool. I bel...
by SQRT
Sat Aug 24, 2019 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Do you sacrifice to save?
Replies: 97
Views: 8612

Re: Do you sacrifice to save?

60k on a kitchen is insane. In my opinion. To me that is the very definition of excess. Unless you entertain people as part of your professional life a $6,000 upgrade to a kitchen in functionally the same. Kind of like paying $200 for a pair of jeans that are for all intents the same as a $20 pair....
by SQRT
Sat Aug 24, 2019 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Do you sacrifice to save?
Replies: 97
Views: 8612

Re: Do you sacrifice to save?

Not really. Never had to. Our net worth was created by cashing employee options and RSU’s then investing the proceeds, as well as borrowing to buy shares. Loans long since repaid. Very lucky indeed.
by SQRT
Thu Aug 22, 2019 7:34 am
Forum: Personal Finance (Not Investing)
Topic: Anybody else enjoy sitting around and doing little in retirement?
Replies: 70
Views: 8246

Re: Anybody else enjoy sitting around and doing little in retirement?

Retired 13 years. Moved across the country. Bought vacation homes. Took up new activities(skiing and biking). Made a lot of new friends. More travel to more interesting places. A lot of real estate reno’s,etc that needed planning and management. Much more time spent on physical fitness. Joined not f...
by SQRT
Wed Aug 21, 2019 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Realizing option value granted as part of compensation
Replies: 22
Views: 1153

Re: Realizing option value granted as part of compensation

Thank you to everyone for your input. For a little more context, the options and RSU make up about 30% of compensation (15% each), both with different vesting schedules. The cash compensation is fair bordering on generous, so the plan is to exercise the equity portion (especially RSUs) as an increa...
by SQRT
Wed Aug 21, 2019 8:41 am
Forum: Personal Investments
Topic: Anyone else more aggressive in retirement than required?
Replies: 52
Views: 4349

Re: Anyone else more aggressive in retirement than required?

Retired 20 years ago, current age 75 with COLA pension enough for my needs. 100% stocks portfolio that I plan to retain to my grave. Others might view reassurance about having "enough" as justification for being conservative with your investing. I have never really appreciated what "enough" means. ...
by SQRT
Fri Aug 16, 2019 7:49 am
Forum: Personal Finance (Not Investing)
Topic: Realizing option value granted as part of compensation
Replies: 22
Views: 1153

Re: Realizing option value granted as part of compensation

Thanks for the feedback. Given the value is likely based on the B-S value, I'd assume there's room in there to inflate the value based on their parameterization, though maybe there are some accounting rules in place to prevent this. When I was working I received a good chunk (25%) of my total comp ...
by SQRT
Thu Aug 15, 2019 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Net-worth rule of thumb for house purchase?
Replies: 123
Views: 6046

Re: Net-worth rule of thumb for house purchase?

No good rule of thumb here. Depends on personal circumstances, especially age and where you live. A 30 year old trying to break into the housing market in a VHCOL area will have a much higher percentage of his net worth tied up in his principal residence than a 65 year old retiree living in a VLCOL...
by SQRT
Thu Aug 15, 2019 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Net-worth rule of thumb for house purchase?
Replies: 123
Views: 6046

Re: Net-worth rule of thumb for house purchase?

No good rule of thumb here. Depends on personal circumstances, especially age and where you live. A 30 year old trying to break into the housing market in a VHCOL area will have a much higher percentage of his net worth tied up in his principal residence than a 65 year old retiree living in a VLCOL ...
by SQRT
Tue Aug 13, 2019 8:17 am
Forum: Personal Finance (Not Investing)
Topic: House purchase (cash)... wire transfer or cashier's check?
Replies: 32
Views: 2162

Re: House purchase (cash)... wire transfer or cashier's check?

Wires are generally safer than paper based checks or drafts. Paper can be lost or misplaced with resulting hassles for the payer. Wire fees are insignificant in the overall scheme of things.
by SQRT
Fri Aug 09, 2019 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Silly question - what’s your largest non-essential item as a % of your net worth? Or, what is its dollar value?
Replies: 25
Views: 1794

Re: Silly question - what’s your largest non-essential item as a % of your net worth? Or, what is its dollar value?

Probably our cottage----a "second home," if you will----probably worth $500-600K. My wife and kids----and their families----(including me) REALLY enjoy spending time up here on the shores of Lake Superior during the summer and early fall. Although a "second home" in terms of time spent here, it is,...
by SQRT
Fri Aug 09, 2019 8:00 am
Forum: Personal Finance (Not Investing)
Topic: Silly question - what’s your largest non-essential item as a % of your net worth? Or, what is its dollar value?
Replies: 25
Views: 1794

Re: Silly question - what’s your largest non-essential item as a % of your net worth? Or, what is its dollar value?

We have 3 personal use “vacation homes”in addition to our primary residence (not really sure which one that would be). These 3 would be about 15% of our net worth. It would totally change our lifestyle to divest them. Eventually we will probably sell two of them but no current plans to do so.
by SQRT
Wed Aug 07, 2019 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: How many bids/estimates do you get for services
Replies: 36
Views: 1594

Re: How many bids/estimates do you get for services

Generally just one for small jobs. I ask him how much and if it sounds reasonable I tell him to proceed. Small is under say $10k. Too much work otherwise. 1. Your time is worth money too. 2. Right now, at this time in the business cycle, it is not easy to get bids, sometimes even getting one can be...
by SQRT
Wed Aug 07, 2019 10:22 am
Forum: Personal Finance (Not Investing)
Topic: How many bids/estimates do you get for services
Replies: 36
Views: 1594

Re: How many bids/estimates do you get for services

Generally just one for small jobs. I ask him how much and if it sounds reasonable I tell him to proceed. Small is under say $10k. Too much work otherwise.
by SQRT
Mon Aug 05, 2019 7:51 am
Forum: Personal Finance (Not Investing)
Topic: Is our spending crazy?
Replies: 111
Views: 7342

Re: Is our spending crazy?

Life is meant to be enjoyed. You only get one. The OP has struck a reasonable balance between saving and spending given his income. This is particularly true in light of the burdensome income taxes he must be paying. Certain expenses, such as vacations with children, are priceless. I doubt that’s t...
by SQRT
Sun Aug 04, 2019 7:03 am
Forum: Personal Finance (Not Investing)
Topic: For long time retirees, do you use a spreadsheet?
Replies: 37
Views: 2733

Re: For long time retirees, do you use a spreadsheet?

I have been retired for 13 years, aged 69. I have spreadsheets for almost everything. I track all my investments monthly since long before I was retired. Track all cash flows and expenses. Forecast cash flows out for 3 years into the future. Monitor dividends, and yield. Draw down rates (although th...
by SQRT
Sat Aug 03, 2019 9:16 am
Forum: Personal Finance (Not Investing)
Topic: balancing investment in bonds versus paying off mortgage payoff
Replies: 7
Views: 680

Re: balancing investment in bonds versus paying off mortgage payoff

A mortgage can be thought of as a negative bond. So whether you keep the bonds in your portfolio while carrying the mortgage also, or whether you liquidate bonds and payoff the mortgage, you are no better or no worse than before. You were actually 100% net in equities, you just didn't realize it. T...
by SQRT
Wed Jul 31, 2019 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirees - what's your spending like?
Replies: 36
Views: 4231

Re: Early retirees - what's your spending like?

I'm curious for early retirees, how many X expenses did you have when you decided to call it quits? And what's your annual spending like (how many X) and how much does it fluctuate? So to clarify, you don't want to know dollar expenditures, you want to know what multiple of their original projectio...
by SQRT
Wed Jul 31, 2019 7:45 am
Forum: Personal Finance (Not Investing)
Topic: Early retirees - what's your spending like?
Replies: 36
Views: 4231

Re: Early retirees - what's your spending like?

I’ve been retired for about 13 years. 69 years “old”. Our spending in retirement is quite a bit more than when working. Started out about 30% more but now it’s about 80% more. I set spending accordingly to available funds which have, obviously, increased quite a bit. Started out just divs and pensio...
by SQRT
Mon Jul 29, 2019 7:51 am
Forum: Personal Finance (Not Investing)
Topic: What two or three financial things to do to wind up wealthy regardless if you make numerous other financial mistakes?
Replies: 85
Views: 9212

Re: What two or three financial things to do to wind up wealthy regardless if you make numerous other financial mistakes

Make a lot of money, buy low sell high, LBYM, marry a rich person who shares your financial views (and is really easy to live with). Seems self evident to me? :greedy
by SQRT
Sun Jul 28, 2019 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Do I include taxes when calculating a retirement number?
Replies: 63
Views: 5256

Re: Do I include taxes when calculating a retirement number?

Income will determine income taxes. Expenses will determine the income needed. The level of income that you get by estimating expenses, as well as the source of income, will be the basis for estimates of after tax income available. You need your after tax income to exceed your expenses. Here, one i...
by SQRT
Wed Jul 24, 2019 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: If you are already retired.. is this true?
Replies: 49
Views: 6109

Re: If you are already retired.. is this true?

Ignores any pensions? Assumes your expenses are 30% of home value. Doesn’t mention income taxes? I’m retired and my total spending is about 20% of my personal use real estate value (several homes). My pension covers about 35% of my spending. Seems like another example of”click bait” to me.
by SQRT
Tue Jul 23, 2019 7:57 am
Forum: Personal Finance (Not Investing)
Topic: Pension Payout
Replies: 11
Views: 734

Re: Pension Payout

Assuming the math is in accordance with reasonable interest and mortality assumptions, and you don’t really need the money, and are in good health, I would defer as long as possible with the highest spousal survivor percentage. (The Bogle approach?)
by SQRT
Tue Jul 23, 2019 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Bigger house?
Replies: 43
Views: 3327

Re: Bigger house?

I would buy the house that would make me happy. You are doing very well and might regret not doing this. I would.
by SQRT
Mon Jul 22, 2019 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Should relative incomes be a factor in wedding gift?
Replies: 107
Views: 6659

Re: Should relative incomes be a factor in wedding gift?

And how exactly are you supposed to know how much it all costed? You never know who you are going to offend so when it comes to "gifting" at all, just give what you personally feel comfortable with. Recently had a friend complaining about people not giving enough to cover the cost of each of their ...
by SQRT
Mon Jul 22, 2019 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: Should relative incomes be a factor in wedding gift?
Replies: 107
Views: 6659

Re: Should relative incomes be a factor in wedding gift?

Last time this thread ran there were quite a few people that said you should cover your food. That means if someone is really close to me but don't have much money and have their reception at the VFW I should give them less than someone I barely know that has rich parents that pay for the most posh...
by SQRT
Mon Jul 22, 2019 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: When family members fight over the check when out to eat
Replies: 103
Views: 8327

Re: When family members fight over the check when out to eat

While I agree in reasonably fair and accurate paying for a share of the bill, I get irritated when someone takes a long time, effort and delay in calculating the shares to several decimal points - maybe even building a spreadsheet on Excel at the table. When we “split “ the bill that’s exactly what...
by SQRT
Mon Jul 22, 2019 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Poll: Are you happy after retirement?
Replies: 41
Views: 5595

Re: Poll: Are you happy after retirement?

Not a professor or researcher. But retired 13 years. Generally happy now. Probably less happy just before retirement but the anticipation of retirement probably had some impact on this. Was generally happy during most of my working life. Happiness is so personal and complex though. Very difficult to...
by SQRT
Mon Jul 22, 2019 5:57 am
Forum: Personal Finance (Not Investing)
Topic: Should relative incomes be a factor in wedding gift?
Replies: 107
Views: 6659

Re: Should relative incomes be a factor in wedding gift?

It's geographically and culturally dependent. As someone raised in California, I had never heard of the expectation that your gift should meet or exceed the cost of your reception dinner until a family member began dating someone from the East Coast, of Italian/Irish heritage. Apparently, in NY/CT ...
by SQRT
Mon Jul 22, 2019 5:43 am
Forum: Personal Finance (Not Investing)
Topic: When family members fight over the check when out to eat
Replies: 103
Views: 8327

Re: When family members fight over the check when out to eat

It is nice to have many people who wants to pay the bill. It will be bad that no one wants to pay! But make sure that you pay your share one way or the other. If you always let other people to pay, and you get free meal all the time, it is just not nice unless you are really poor. I love to pay for...