Search found 3525 matches

by MathWizard
Sun Nov 10, 2019 1:40 pm
Forum: Personal Investments
Topic: Spend It All vs. Leave $$ for the Kids
Replies: 174
Views: 12786

Re: Spend It All vs. Leave $$ for the Kids

My goal is that my kids will not need any money we have left over. I have told my kids that they should not plan on receiving an inheritance. Since we do not know when we will die, and I don't plan on annuitizing it all, we will likely have quite a bit left over. I hope I have taught them well. They...
by MathWizard
Sun Nov 10, 2019 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Do you charge your employer for the time that you spend working on your off days?
Replies: 145
Views: 7523

Re: Do you charge your employer for the time that you spend working on your off days?

I've had minimal backup most of my career. I've had to check email while, and occasionally had to do work while on vacation, even from Europe. Now that I am the boss, I make sure my employees get cross trained and do not take their laptop with them in vacation. They do answer emails on weekends, but...
by MathWizard
Sun Nov 10, 2019 12:00 pm
Forum: Personal Consumer Issues
Topic: After 2 weeks on new job, I am wanting to return to my old job, this is a terrible idea right?
Replies: 64
Views: 6219

Re: After 2 weeks on new job, I am wanting to return to my old job, this is a terrible idea right?

Don't assume your old job is yours. You already left, what's to say you won't leave again. As a hiring manager at your old job, if I was already advertising the position, I would encourage you to apply for your old job, but you will be judged like they are . My suggestion to you is that if you can't...
by MathWizard
Fri Nov 08, 2019 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy the family cottage?
Replies: 90
Views: 7224

Re: Should I buy the family cottage?

I'm in a similar financial situation as you, and I would buy it. In a way, you are taking on the mantle of the family conservator of the property, which is why your dad is offering it to you at a deep discount. I'm sure he bore the burden for years, now he is hoping to be relieved of the burden. He ...
by MathWizard
Thu Nov 07, 2019 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Lowering Roth IRA or 401k contributions first?
Replies: 7
Views: 343

Re: Lowering Roth IRA or 401k contributions first?

If you expect to be in the 12% bracket in retirement, and/or have decreased state income taxes, then reduce the Roth. You can convert from tax deferred to Roth in retirement especially before claiming SS benefits. If you expect taxes to be the same, I would keep maxing the Roth and reduce the 401k. ...
by MathWizard
Thu Nov 07, 2019 8:44 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Question for my Wife
Replies: 8
Views: 643

Re: Social Security Question for my Wife

If she waits to get a check until July 2021, the first month after she reaches FRA, she can work as long as she wants with no reduction.

If she claims before FRA, and her PIA is less than 1/2 your PIA, it will permanently reduce spousal benefits. It will not however reduce survivor's benefits.
by MathWizard
Tue Nov 05, 2019 4:40 pm
Forum: Personal Consumer Issues
Topic: Weddings - The good? The bad?
Replies: 47
Views: 4265

Re: Weddings - The good? The bad?

The best place is a church with an attached fellowship hall. Clearly the sanctuary is set up for the wedding, and there is usually and organ and/or a sound system. The fellowship hall is set up with a large kitchen ready for serving lots of people. An area can be set up for dancing, or the tables ca...
by MathWizard
Mon Nov 04, 2019 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: 15 vs 20 year term life???
Replies: 33
Views: 2277

Re: 15 vs 20 year term life???

Check what annual renewable term life would be. That is what I chose. Reasons: 1) The rate was the cheapest when I had the least money, and went up slowly after that. I got it soon after our first child was born, I was still paying on student loans, and we were saving for a house. 2) I only needed a...
by MathWizard
Mon Nov 04, 2019 1:45 pm
Forum: Investing - Theory, News & General
Topic: SWR and shorter time frames
Replies: 11
Views: 1050

Re: SWR and shorter time frames

Look up the updated Trinity study:

Code: Select all

https://fourpillarfreedom.com/the-trinity-study-updated-for-2018/
by MathWizard
Mon Nov 04, 2019 11:58 am
Forum: Non-US Investing
Topic: 5.1m Windfall - please advice
Replies: 22
Views: 3517

Re: 5.1m Windfall - please advice

Taylor Larimore's advice is excellent.

I can only add I would greatly encourage you to look at:

Code: Select all

https://www.bogleheads.org/wiki/Managing_a_windfall
which is exactly your situation.
by MathWizard
Sun Nov 03, 2019 10:29 am
Forum: Personal Investments
Topic: At the halfway mark, need help with 2 big decisions
Replies: 30
Views: 3164

Re: At the halfway mark, need help with 2 big decisions

As a single, with an option to make $120K at a job they like, most people would be in heaven.

You will be fine.
by MathWizard
Tue Oct 29, 2019 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: How much deferred maintenance would make you walk away from a home deal?
Replies: 30
Views: 2351

Re: How much deferred maintenance would make you walk away from a home deal?

Only those things that would be hard to remediate. We bought a fixer upper because of location. I spent 14 years bringing it to its current state with just a couple of items to yet complete. I took the amount of repairs into account when I offered. The owner balked, but came back 6 months later aski...
by MathWizard
Mon Oct 28, 2019 6:23 pm
Forum: Personal Consumer Issues
Topic: New Computer with or without SSD?
Replies: 78
Views: 4299

Re: New Computer with or without SSD?

SSD. For a laptop especially, you will lower weight and longer battery life plus
much faster performance.

I'm putting high end consumer class drives for temp space in production machines.
For $150/TB you can get drives which are rated for 300GB written every day for 5 years.
by MathWizard
Mon Oct 28, 2019 11:56 am
Forum: Personal Consumer Issues
Topic: How much do you plan to spend on your children's weddings?
Replies: 182
Views: 8790

Re: How much do you plan to spend on your children's weddings?

I have 2 sons as well, around marrying age. I paid a portion of the wedding cost as did my wife and her parents for our wedding nearly 40 years ago, so my sons may do so as well. For planning purposes, I have assumed $5K each. I don't know that it will be needed, but things happen. I'm sure my wife ...
by MathWizard
Mon Oct 28, 2019 11:42 am
Forum: Personal Finance (Not Investing)
Topic: How much does a "good school district" matter?
Replies: 76
Views: 6596

Re: How much does a "good school district" matter?

Unless you have them in private school, or teach themselves yourself, a good school is hugely important. It put a limit on how far they can go. I picked a city where there was a great public school district, much better than what I had growing up. They had many more opportunities to learn in school...
by MathWizard
Sat Oct 26, 2019 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: How much does a "good school district" matter?
Replies: 76
Views: 6596

Re: How much does a "good school district" matter?

Unless you have them in private school, or teach themselves yourself, a good school is hugely important. It put a limit on how far they can go. I picked a city where there was a great public school district, much better than what I had growing up. They had many more opportunities to learn in school ...
by MathWizard
Sat Oct 26, 2019 1:50 pm
Forum: Personal Investments
Topic: Do You Pay For Financial Advice?
Replies: 76
Views: 4311

Re: Do You Pay For Financial Advice?

No. I keep things pretty simple.

I know very advanced math and computing, but need very little beyond simple interest calculations, compound growth and a little algebra.

The behavioral part of finance is much more important, especially deferred gratification
by MathWizard
Fri Oct 25, 2019 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Who does your tax returns?
Replies: 103
Views: 5167

Re: Who does your tax returns?

TurboTax. Before that, by hand. We tried a CPA firm twice, each time when my wife started a business. The hard work was getting all the numbers together: Income, Expenses with justification and receipts. My wife would have all these with a calculator tape with the numbers and total all paper-clipped...
by MathWizard
Thu Oct 24, 2019 12:39 pm
Forum: Personal Consumer Issues
Topic: How to get quicker hot water
Replies: 45
Views: 2486

Re: How to get quicker hot water

I had an electrician add a switched outlet under our sink. The switched outlet is the same as the light above the sink, and that is where the recirculating pump is connected. When we want to use the dishwasher or wash dishes by hand, we flip the switch about 10 minutes before we want the hot water. ...
by MathWizard
Wed Oct 23, 2019 9:30 pm
Forum: Personal Consumer Issues
Topic: How to Know if an Old House is Reasonably Beyond Repair
Replies: 30
Views: 2407

Re: How to Know if an Old House is Reasonably Beyond Repair

It sounds like you would be better demolishing.

Cost per square foot for remodel is generally much higher than new construction.

If you aren't ready to replace it all, you will end up with good construction over old, so if you are no ready to completely replace, don't buy the property.
by MathWizard
Tue Oct 22, 2019 9:09 pm
Forum: Personal Consumer Issues
Topic: Dodge Grand Caravan 45k Miles and broken transmission, Advice for a Car Noob
Replies: 13
Views: 1090

Re: Dodge Grand Caravan 45k Miles and broken transmission, Advice for a Car Noob

I had the transmission rebuilt in my Grand Caravan at 60K and again at 120K. I guess they only last 60K miles.

I liked the vehicle.
by MathWizard
Sun Oct 20, 2019 11:18 am
Forum: Personal Consumer Issues
Topic: Wallets [Do you carry a wallet?]
Replies: 102
Views: 8156

Re: Wallets [Do you carry a wallet?]

Sticking with a wallet.

Maybe when I retire I can ditch the wallet
by MathWizard
Sat Oct 19, 2019 3:07 pm
Forum: Personal Consumer Issues
Topic: SAT/ACT prep courses worth the money?
Replies: 47
Views: 3110

Re: SAT/ACT prep courses worth the money?

The PSAT may be worth more because that is the National Merit Qualifying Exam. I got some used PSAT prep books from the library. My older son refused to look at them, and ended up 94th percentile, the younger one practiced a bit and ended up 99th percentile , and was a National Merit Scholar. Both h...
by MathWizard
Fri Oct 18, 2019 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Should I take the job in OKC or Orlando?
Replies: 98
Views: 5563

Re: Should I take the job in OKC or Orlando?

You are in a financial forum, and between the two cities, OKC seems to be a no-brainer financially. Cost is living is comparable (Orlando is 2% higher), but you make 50% in OKC and have greater advancement opportunities. Invest the difference, retire 5-10 years sooner, then live where you want. For ...
by MathWizard
Fri Oct 18, 2019 5:32 pm
Forum: Personal Investments
Topic: I'm an indexer, but should I be buying my companies discounted stock?
Replies: 42
Views: 3213

Re: I'm an indexer, but should I be buying my companies discounted stock?

I'm not sure why so many are against this. Generally questions about investing in single stocks is met with EMH arguments. That is, the stock is priced accurately. So if the stock is priced accurately, and you get 15% off, according to EMH, you just made 15% . I would not invest a large percentage o...
by MathWizard
Fri Oct 18, 2019 1:09 pm
Forum: Personal Investments
Topic: Retiring and Getting Over The Fear of Quitting?
Replies: 84
Views: 9779

Re: Retiring and Getting Over The Fear of Quitting?

Anytime you have a life-altering choice, it is easy to have indecision. Think back to those decisions: You travelled the world You got married (certainly life-changing) If you had kids, that was life changing. You chose a career. Were any of these ones that you regret? Likely not. Once you become re...
by MathWizard
Thu Oct 17, 2019 1:35 pm
Forum: Investing - Theory, News & General
Topic: $2,467 is a minimum emergency fund
Replies: 36
Views: 7746

Re: $2,467 is a minimum emergency fund

By minimum, the authors really mean minimum. Not advisable, minimum. For this minimum, they even state that it is rational to hold debt rather than go below this minimum. This is just saying that cash flow is important, which any business owner would tell you. I was in this situation during grad sch...
by MathWizard
Mon Oct 14, 2019 10:15 pm
Forum: Investing - Theory, News & General
Topic: Why did the stock market start a “hockey stick” run up since about post 1973 or so? You can see this in SP500 and DJIA
Replies: 28
Views: 2262

Re: Why did the stick market start a “hockey stick” run up since about post 1973 or so? You can see this in SP500 and

I agree you need to look at a logarithmic scale. Also, what is typically shown in the graph is the value of the djia or sp500 . Remember that this is after dividends are paid. Recently, for a number of factors, companies have reduced dividends. Now for example, the dividend yield of the SP500 has be...
by MathWizard
Mon Oct 14, 2019 5:59 pm
Forum: Personal Consumer Issues
Topic: How much do you spend on dry cleaning?
Replies: 27
Views: 1509

Re: How much do you spend on dry cleaning?

Leather coat and suit coats for me.

My wife has some more formal clothes that require dry cleaning.
by MathWizard
Mon Oct 14, 2019 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: poor Boglehead sending my kids to college
Replies: 69
Views: 5832

Re: poor Boglehead sending my kids to college

I would discuss the options with them and get their input. Personally A or C seem the best options. I gave my kids option A (though at a state school). The school was their choice. I'd have done the same for a very good out of state school. (Think MIT, CalTech, Carnegie Mellon) I'd pay the amount of...
by MathWizard
Mon Oct 14, 2019 11:59 am
Forum: Personal Investments
Topic: How much to hold in cash?
Replies: 54
Views: 8050

Re: How much to hold in cash?

Regarding the quote, 2/3's would be illiquid assets. Funds in investment accounts are fairly liquid in normal circumstances, so 1/3 in reserve would include mutual funds and govt bonds, for example. However, in a severe national emergency these accounts might not be completely liquid, so some some c...
by MathWizard
Sun Oct 13, 2019 7:16 pm
Forum: Personal Consumer Issues
Topic: Office etiquette - gift to ex boss?
Replies: 10
Views: 755

Re: Office etiquette - gift to ex boss?

A verbal thank you, or a handwritten note is the most you should do,at least in the US business culture.

I would be very embarrassed by an employee who was leaving giving me a gift.

I do understand that this can be different in other cultures, but I assume you are asking about the US.
by MathWizard
Sun Oct 13, 2019 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Should I invest in a ski in / ski out condo?
Replies: 50
Views: 5282

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

Investments are those things in which you make money, so I don't think that it possible to invest in this kind of condo. At best it would be a speculation.

In my opinion, this is a want, not a need, or an investment.
by MathWizard
Sun Oct 13, 2019 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: What’s the proper way to pay yourself in retirement?
Replies: 66
Views: 8209

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

If your money is in an IRA at Vanguard (possibly other custodians too), you could also continue to reinvest dividends and withdraw even amounts per plan. There is a withdrawal automation option (no PAS needed) where you can set amounts and proportions. This may be helpful if you'd feel most comfort...
by MathWizard
Sun Oct 13, 2019 12:13 pm
Forum: Personal Investments
Topic: Struggling to understand emergency fund math
Replies: 26
Views: 2356

Re: Struggling to understand emergency fund math

Most of the folks recommend 6 months expenses. Me & my wife are currently employed and my current estimation is it would take 2-3 months to find another employer in case of lay off. We can leave on single income so from this perspective 6 months is too much In case of major recession I believe ppl ...
by MathWizard
Sun Oct 13, 2019 11:59 am
Forum: Investing - Theory, News & General
Topic: How often do you look at your IRA or 401K Balances
Replies: 71
Views: 5708

Re: How often do you look at your IRA or 401K Balances

I look once a week and update my retirement estimates.
I don't make moves based upon my looking at retirement accounts.

I also balance the checkbook once a week.
I just want to keep track of where I am at.
by MathWizard
Sun Oct 13, 2019 10:52 am
Forum: Personal Finance (Not Investing)
Topic: What % and for how long do you have to save to replace income net ofsaving?
Replies: 17
Views: 2237

Re: What % and for how long do you have to save to replace income net ofsaving?

The numbers are pretty large if you ignore age, since that affects SS benefits and Medicare, and the effect of the length of retirement on the SWR. The 4% rule assume no more than a 30 year retirement. My employer pays most of my health care insurance, which will be a huge expense in retirement, esp...
by MathWizard
Fri Oct 11, 2019 10:37 pm
Forum: Personal Investments
Topic: Retirees, when did you start really planning your retirement?
Replies: 53
Views: 5016

Re: Retirees, when did you start really planning your retirement?

11 years ago, during the financial crisis, at age 59. I am on the cusp of retirement, recently financially independent. During the financial crisis. My wife lost her job, and there were layoffs. I was not laid off, but during a mandatory unpaid furlough, I wrote a program to estimate what we would h...
by MathWizard
Thu Oct 10, 2019 11:18 am
Forum: Personal Consumer Issues
Topic: Cheap Cell Phone Plan
Replies: 48
Views: 4698

Re: Cheap Cell Phone Plan

We've had the best luck with tracfone. Buy a phone, tracfone has new Galaxy S7's and iphone 7s's , for around $200, then service (1200 min talk, 1200 text, 1.2GB dat per year) is $100. This does not expire as long as you keep service active. I use it so little that I buy online, and once you buy the...
by MathWizard
Wed Oct 09, 2019 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Making money with oversized rooftop solar system?
Replies: 22
Views: 2693

Re: Making money with oversized rooftop solar system?

In my town, you only get wholesale price not retail. (E.g. what it costs them to produce the electricity, not what they sell it for.) So you would not make money here. Here, the best you can get is a net-zero metering cost, where you have the power plant as a backup generator in case the sun does no...
by MathWizard
Wed Oct 09, 2019 3:38 pm
Forum: Personal Consumer Issues
Topic: Do you carry your passport with you during international travel?
Replies: 110
Views: 9487

Re: Do you carry your passport with you during international travel?

I have left it in the hotel safe, but I usually carry it in a
money belt along with a backup credit card and cash beyond what
I would spend that day.
by MathWizard
Wed Oct 09, 2019 10:53 am
Forum: Personal Consumer Issues
Topic: lastpass noob question
Replies: 40
Views: 3163

Re: lastpass noob question

I use a different password manager, but the behavior you are seeing might be from the browser remembering your password, not lastpass. To test this, go into your browser and delete the history. In Chrome, in the advanced settings, a box with autofill passwords can be checked so that Chrome will reme...
by MathWizard
Mon Oct 07, 2019 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6636

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

I am having some trouble in determining what are the essential and discretionary expenses in a retirement budget. I understand that the discretionary expenses are the ones that you could cut if your financial situation becomes bleak. To facilitate discussions, here is a hypothetical annual retireme...
by MathWizard
Sat Oct 05, 2019 10:54 pm
Forum: Personal Investments
Topic: Family Finances
Replies: 18
Views: 3115

Re: Family Finances

I would check with HR about taking FMLA. You can take up to 12 weeks leave. It does not have to be paid, though more generous employers allow you to use sick leave, and get paid. FMLA protects you from.being fired for taking the leave, and it cannot be used against you in performance reviews.
by MathWizard
Sat Oct 05, 2019 10:26 pm
Forum: Investing - Theory, News & General
Topic: Over Confident in Old-age: Cognitive Decline and Financial Literacy
Replies: 83
Views: 7843

Re: Over Confident in Old-age: Cognitive Decline and Financial Literacy

This seems overblown to me, at least for my finances. These are quite simple, and will be pretty much on autopilot. SS benefits. Small SPIA which with SS will cover base expenses. Health supplement insurance with prescriptions, so no medicare part D decision each year. I have a printed copy of what ...
by MathWizard
Tue Oct 01, 2019 2:26 pm
Forum: Investing - Theory, News & General
Topic: Jonathan Clements: About half your retirement accumulation is just the dollars you put in
Replies: 92
Views: 14269

Re: Jonathan Clements: About half your retirement accumulation is just the dollars you put in

30 years of investing in 403b, contributions are 38% of total. With a 4% return going forward, my contributions would be 40% of (contributions plus return), so I don't expect the % to change much. This is due to the low return (historically), and an increased salary relative to 5 years ago. The perc...
by MathWizard
Mon Sep 30, 2019 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: Ideal income bracket target?
Replies: 49
Views: 5018

Re: Ideal income bracket target?

This is a hypothetical question. If a higher net worth person in the decumulation stage has equal money in tax deferred, taxable and Roth, and therefore could literally pick any income level as a target by pulling from the appropriate accounts, what would that target income be? Would it be the inco...
by MathWizard
Thu Sep 26, 2019 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: financially clueless senior MIL who thinks she’s rich
Replies: 162
Views: 20155

Re: financially clueless senior MIL who thinks she’s rich

I think you're far too conservative. Her likelihood to live another 20 years is insanely low. I agree. The life expectancy of an 80 year old is 9 years, so it's not likely she will live much past the age of 90. Sure, it could happen, but it is unlikely. Planning for her to live until 104 is not rea...
by MathWizard
Thu Sep 26, 2019 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: financially clueless senior MIL who thinks she’s rich
Replies: 162
Views: 20155

Re: financially clueless senior MIL who thinks she’s rich

I think you're far too conservative. Her likelihood to live another 20 years is insanely low. I agree. The life expectancy of an 80 year old is 9 years, so it's not likely she will live much past the age of 90. Sure, it could happen, but it is unlikely. Planning for her to live until 104 is not rea...
by MathWizard
Thu Sep 26, 2019 12:58 pm
Forum: Personal Investments
Topic: Puzzling the "How Much Cash" Question
Replies: 19
Views: 1847

Re: Puzzling the "How Much Cash" Question

My definition of cash is immediately available, doesn’t fluctuate and therefore safe barring Armageddon. CDs are not cash in my opinion. Bonds are bonds. Cash is money market and savings and checking accounts. I definitely agree on bond funds. They can lose value. (I don't hold individual stocks or...