Search found 1665 matches

by chipperd
Thu Aug 18, 2022 5:44 am
Forum: Investing - Theory, News & General
Topic: Wade Pfau's Retirement (2.2% SWR, Annuities)
Replies: 644
Views: 44697

Re: Wade Pfau's Retirement (2.2% SWR, Annuities)

I'll also second the issue of Pfau's conflict of interest. When one seems to always read Pfau's recommendation to use an annuity in some manner as part of retirement, without regard for social security and/or pensions, along with his sponsors being annuity salespeople (insurance companies) without disclosure on his part, one can see how Pfau's vision and creativity with regard to retirement planning could be narrowed. When has Wade Pfau recommended annuities to specific people without regard for social security and/or pensions? Have you actually read any book by Wade Pfau? I have read, on numerous occasions, Pfau recommending annuities, in general (which is worse IMO) without regard for social security and/or pensions. Why do you want to k...
by chipperd
Wed Aug 17, 2022 1:21 pm
Forum: Investing - Theory, News & General
Topic: Wade Pfau's Retirement (2.2% SWR, Annuities)
Replies: 644
Views: 44697

Re: Wade Pfau's Retirement (2.2% SWR, Annuities)

I'll also second the issue of Pfau's conflict of interest. When one seems to always read Pfau's recommendation to use an annuity in some manner as part of retirement, without regard for social security and/or pensions, along with his sponsors being annuity salespeople (insurance companies) without disclosure on his part, one can see how Pfau's vision and creativity with regard to retirement planning could be narrowed. When has Wade Pfau recommended annuities to specific people without regard for social security and/or pensions? Have you actually read any book by Wade Pfau? I have read, on numerous occasions, Pfau recommending annuities, in general (which is worse IMO) without regard for social security and/or pensions. Why do you want to k...
by chipperd
Wed Aug 17, 2022 6:18 am
Forum: Personal Consumer Issues
Topic: Should I do this vehicle swap?
Replies: 31
Views: 2913

Re: Should I do this vehicle swap?

smalliebigs wrote: Wed Aug 17, 2022 6:07 am Ok, after sleeping over it, I think it's not worth the hassle. Thank you all.
Wise decision, however the rationale as to why this is a wise decision goes far beyond the hassle factor.
by chipperd
Wed Aug 17, 2022 6:15 am
Forum: Investing - Theory, News & General
Topic: [Stocks On Sale!]
Replies: 61
Views: 6511

Re: Stonks On Sale!

I purchase my stonks whenever they wear out.
As a necessary expenditure, I can't afford to wait for a sale or I might run out!
by chipperd
Wed Aug 17, 2022 4:06 am
Forum: Investing - Theory, News & General
Topic: Wade Pfau's Retirement (2.2% SWR, Annuities)
Replies: 644
Views: 44697

Re: Wade Pfau's Retirement (2.2% SWR, Annuities)

2.2% SWR is apocalyptic and I'm not buying, especially for Bogleheads. Maybe for people who are financially illiterate and have not positioned themselves for retirement. I'm using 3.3% and will adapt as necessary. If I assume that returns will be that bad, I wouldn't retire until I am debt free, mortgage and all. That's my plan anyway, and I assume the same for many BHers (except for possibly a small mortgage). We are likely in the top decile in terms of retirement readiness. No matter the conditions, our financial quality of life in retirement is likely to remain in that top decile. Other than an unanticipated and crippling medical expense, our spending will adapt to the conditions. If we can't make it, then the world won't be worth livin...
by chipperd
Wed Aug 17, 2022 4:03 am
Forum: Investing - Theory, News & General
Topic: Wade Pfau's Retirement (2.2% SWR, Annuities)
Replies: 644
Views: 44697

Re: Wade Pfau's Retirement (2.2% SWR, Annuities)

I believe qualitatively it is poorly supported since the historical evidence is over periods where prevailing bond and stock earnings yields were significantly higher than now. No, the 4% number represents the WORST times in the past. During the good times in the past, when bond and stock yields were "significantly higher than now", one could have pulled 6% or even 7% or 8% a year and not run of out of money. No one is counting on high bond and stock yields with the 4% plan. Because the 4% withdrawal represents the times in our past when stocks and bonds did poorly. Very poorly. Great Depression times. 25% unemployment times. 1966-1982 times, where the DOW was 1000 in 1966 and STILL 1000 in 1982, AND bonds did poorly because inte...
by chipperd
Mon Aug 15, 2022 5:31 am
Forum: Personal Consumer Issues
Topic: Overall savings between Gas, Hybrid and EV vehicles
Replies: 848
Views: 51858

Re: Overall savings between Gas, Hybrid and EV vehicles

As a potential EV buyer, here's what I've learned on this thread: 1) When conditions are right for an EV, it's very good: acceleration, "fuel" costs, long term costs (in some cases very long term), maintenance costs 2) When conditions aren't right for an EV, it's very bad: charging time/convenience, range anxiety (real and imagined, both an issue esp with regards to weather conditions), may not recoup extra upfront costs. 3)Tesla is leading in the engineering/range issue at the luxury end, but others are catching up at the luxury end of the market (ie: Mercedes EQE at 70k and yea, anything over 40k is a luxury car IMO). There are more, many more than this list so please, let go of augmenting the above. To many other posts to conti...
by chipperd
Sat Aug 13, 2022 2:29 pm
Forum: Personal Investments
Topic: Hard decision to make, but good problem to have
Replies: 31
Views: 4595

Re: Hard decision to make, but good problem to have

er999 wrote: Sat Aug 13, 2022 2:23 pm There’s also the pension benefit guaranty corporation (https://www.pbgc.gov/) that is a government agency that protects some pensions so even if your company went bankrupt some likely would be protected. I think the pension is nice to be able to potentially spend more money, particularly if you are someone who would have a conservative < 3% withdrawal rate like a lot of people on here.
This, but don't forget there is a max on that PBGC guaranteed benefit should the company go under. It's about 2k/month at age 50 and goes up from there:
https://www.pbgc.gov/wr/benefits/guaranteed-benefits
by chipperd
Thu Aug 11, 2022 11:55 am
Forum: Personal Consumer Issues
Topic: Boglehead Beer
Replies: 1071
Views: 202953

Re: Boglehead Beer

After a good sweat working in the yard, (or while sweating on the course) Goose Island IPA hits the spot.
15 for $22 out the door at my local stop
by chipperd
Thu Aug 11, 2022 2:02 am
Forum: Personal Finance (Not Investing)
Topic: Planning for college
Replies: 31
Views: 2345

Re: Planning for college

Private schools are pushing $80K a year without any need or merit based aid. By the time your kids are looking at schools, it will likely be over 100K a year. However, unless you are sure you want you kids to attend a full pay private or want to attend graduate school, then saving more than the four year cost at an in-state flagships makes little sense. You should look at the cost of your in-state flagship. The cost can vary quite a bit with well run states like Florida costing $6,400 per year to poorly run states like Illinois running more than $20,000 per year for some programs. Add $10,000 to $20,000 a year in living expenses depending on location and how luxurious the student lifestyle. While the bolded is accurate it should be noted t...
by chipperd
Wed Aug 10, 2022 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: Financially Independent considering Retiring Early
Replies: 44
Views: 7147

Re: Financially Independent considering Retiring Early

I posted a couple of years ago when I was considering retiring early. Two years have gone by and I am now considering it again. Some background- I am a 51 year old physician who is getting burned out and considering retiring early. I have about $9 million in a taxable account, $3.5 million in retirement accounts and a paid off $1 million dollar house. My current spending is about $150k per year which would probably go up to $200k with health insurance, etc. My wife works part-time (3 days per week) and I have a 10 year old daughter in public school. I have a lot of hobbies but I’m concerned that I may get bored and would regret giving up my partnership in my current group which takes years to attain. However, I don’t really need the money ...
by chipperd
Wed Aug 10, 2022 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Buyer of Our House Wants $5k "Credit" for Something That was Open and Obvious
Replies: 160
Views: 14234

Re: Buyer of Our House Wants $5k "Credit" for Something That was Open and Obvious

CoastLawyer2030 wrote: Wed Aug 10, 2022 3:44 pm
vineviz wrote: Wed Aug 10, 2022 3:38 pm
Ktorrence wrote: Wed Aug 10, 2022 3:35 pm With both the buyer and seller agents working out of the same office your anxiety should never have reached the present point. Terrible representation. Accept the offer and let your agent know that this should’ve been sorted out better between the agents.
I don't think the representation is the true source of anxiety in this case.
My agent has been an amorphous, question dodging jerk all day. I cannot get a straight answer from her on what time of day it is. I am 12/10 mad.
Right, b/c you are 12/10 mad.
Have your wife call the broker and accept the seller's offer.
Done.
by chipperd
Wed Aug 10, 2022 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: What is your home insurance deductible?
Replies: 41
Views: 4330

Re: What is your home insurance deductible?

$2,500 with high level replacement cost.

Note: we reduced our cost of insurance by stepping down to the lowest level, the portion of the insurance that covers the contents of our home.
It seems the insurance company thought we were housing a couple Van Goughs.
by chipperd
Wed Aug 10, 2022 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Buyer of Our House Wants $5k "Credit" for Something That was Open and Obvious
Replies: 160
Views: 14234

Re: Buyer of Our House Wants $5k "Credit" for Something That was Open and Obvious

changingtimes wrote: Wed Aug 10, 2022 12:03 pm This is why when I eventually sell my house that I've already been in for 25 years I will price it low and sell as is. We did this with my father's (relatively new) house last year. Just want no part of the nickel-and-diming portion of the transaction. Here it is, in a great location, needs some work, here's the disclosures, make your offer or move on.

(In fact, on the vacation home I just bought, I made no requests from the seller. There was nothing truly major, and I just wanted the damn deal over with.)

Life is too short to worry about such a small amount compared to the overall deal.
+1
by chipperd
Wed Aug 10, 2022 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Buyer of Our House Wants $5k "Credit" for Something That was Open and Obvious
Replies: 160
Views: 14234

Re: Buyer of Our House Wants $5k "Credit" for Something That was Open and Obvious

OP: Your opinion of potential buyer's request(s) at this point (and at any point) isn't relevant. They are just requests. It's just business. You can say no at any time. I will note you don't mention if in any of the adverts on the home it was stated that the home was priced knowing flooring surface needed replacement and that the home was priced accordingly. I will assume that if the pricing was publicized in this manner, you would have stated this as it would have made your position stronger. Operating on that assumption, it doesn't seem unreasonable for a buyer to wait until the inspection to request funds for new flooring if it's noted by an "independent" third party hired by the potential buyer to note flaws in the home. In f...
by chipperd
Tue Aug 09, 2022 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Can We Afford This Home?
Replies: 48
Views: 4234

Re: Can We Afford This Home?

To the OP:
You guys are doing great and can definitely afford that house.
Best of luck!
:sharebeer
by chipperd
Thu Aug 04, 2022 5:30 am
Forum: Non-US Investing
Topic: [Non US] Segregate Kids University Fund
Replies: 15
Views: 1557

Re: [Non US] Segregate Kids University Fund

The Vanguard 2035 fund would follow your 12 year time horizon. You could just copy the asset allocation using the funds named in the portfolio composition. Link: https://investor.vanguard.com/investment-products/mutual-funds/profile/vtthx#price Click on the "Portfolio Composition" at the top of the page for the current make up of that fund and copy. Way less than 100% stocks you mentioned. It stands at 42%. Not sure when that composition changes, but I would say you could just check and change maybe 2x/year to get a really close approximation. Here is a link to give you a visual of the "glide path" of reduced risk over time via the 5 funds this fund invests in: https://institutional.vanguard.com/investments/product-detai...
by chipperd
Wed Aug 03, 2022 2:50 pm
Forum: Personal Consumer Issues
Topic: [HELP] Basement Finishing - Where to start?
Replies: 23
Views: 2027

Re: [HELP] Basement Finishing - Where to start?

You're way out of my league on this one.

Yeah it sounds like you need a basement systems type of company. They will let you know what your basement is capable of delivering on your list of wants, how to get there and costs. Not sure what part of the world you are in, but they are fairly common in our neck of the woods.

Probably want to start there, with a "Basement Systems" type google search.
by chipperd
Wed Aug 03, 2022 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Help with college finance prep
Replies: 49
Views: 3832

Re: Help with college finance prep

To the OP: Three kids in undergrad until this past May, when one graduated. All private Universities in the Northeast. One attended a 95% full need school and averaged just over $4k/year all in net cost and her academic numbers were really good (32 ACT, 3.85, many 4's and 5's on AP exams, many extra curriculars). Note our income is in the mid to high 5 digit range to get to that number. The other two, even at our income relative to yours, average $14k/year and $24k/year (and that's the 3rd one!). Need based aid is heavily based on parental income (assuming your two rising seniors are dependents on your tax return). Given your household income of 280k, along with your taxable savings and 529 $, your aren't a candidate, IMHO, for need based a...
by chipperd
Wed Aug 03, 2022 2:09 pm
Forum: Personal Consumer Issues
Topic: [HELP] Basement Finishing - Where to start?
Replies: 23
Views: 2027

Re: [HELP] Basement Finishing - Where to start?

I finished off our basement myself with my family members as major assistants and learned a ton, so I'll share what I can that seems applicable. But first, some questions: What is the square footage you are looking to finish off? How old is the house? Are there any obstructions or issues like: columns or supports in the area to be finished, sump pumps or french drain accesses that need to be left accessible, mechanical items like furnace, h.w. heater, well pump, etc...? Is there any mold? What are you looking to accomplish with the space (playroom for kids, workout room, arts and crafts area etc)? First thing we did that you could do yourself, assuming there are no water issues as you mentioned, is apply Drylock to the walls and floor. This...
by chipperd
Tue Aug 02, 2022 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Paid internship with credit awarded. Qualified 529 withdraw to pay for on campus housing?
Replies: 2
Views: 346

Re: Paid internship with credit awarded. Qualified 529 withdraw to pay for on campus housing?

Qualified Higher Education Expenses addresses your question by noting that the "actual amount [of room and board] charged if the student is residing in housing owned or operated by the school" qualifies, but without specifying the time period over which at least half the full-time academic workload is calculated. Barring anything specific to the contrary, a https://www.irs.gov/pub/irs-pdf/f1098t.pdf with box 8 checked seems sufficient to qualify for any such room and board between matriculation and graduation. A more draconian interpretation would look at this semester-by-semester or even a higher frequency. Thanks so much for the reply and included references. It seems the half time provision isn't met over the summer, as the cr...
by chipperd
Tue Aug 02, 2022 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Paid internship with credit awarded. Qualified 529 withdraw to pay for on campus housing?
Replies: 2
Views: 346

Paid internship with credit awarded. Qualified 529 withdraw to pay for on campus housing?

The deal we have with our kids is, if they obtain a paid summer internship outside the home, we pay for half of all expenses associated with said internship.

Question for the hive mind:

Would the cost of on campus housing and food for an on campus internship, in which the student is paid a healthy stipend (exceeding the cost of room and food) yet also obtains credit, meet criteria for a qualified 529 withdraw? Payment was made directly to the University for the room/suite by my DD and we paid her back.

This occurred to me, as I was watching my DD/student type up a brief report for the coming fall class that is attached to this internship when she was home visiting this past weekend.

Thanks for the input.
by chipperd
Tue Aug 02, 2022 2:52 pm
Forum: Personal Consumer Issues
Topic: Overall savings between Gas, Hybrid and EV vehicles
Replies: 848
Views: 51858

Re: Overall savings between Gas, Hybrid and EV vehicles

A common definition of bias is prejudice in favor of one side. My opinions about EVs and ICE vehicles are not prejudice (a preconceived opinion) but based on my own experience of operating/owning both kinds of vehicles, and - more relevant to the topic of this thread - objective numbers from credible sources. There's no question that EVs are cheaper to operate in most (not all) cases than comparable ICE vehicles, in some cases with a breakeven point but in some from the get-go. That doesn't make them right for everyone, of course. But the acrobatic levels of twisting to make the numbers fit a narrative (e.g., comparing a $100K Tesla Model S against a 20-year old ICE vehicle with supposedly zero repair costs, or $3/gallon gas vs 30 cents/KW...
by chipperd
Tue Aug 02, 2022 12:55 pm
Forum: Personal Consumer Issues
Topic: Overall savings between Gas, Hybrid and EV vehicles
Replies: 848
Views: 51858

Re: Overall savings between Gas, Hybrid and EV vehicles

I LOL'd reading that link. When somebody uses the Mustang Mach-E to compare to the Mustang (as the ICE equivalent), you know they don't have the first clue about EVs. For a car that is actually pretty close to equivalent, the Kona, the EV version costs just 10% more to insure. That's actually a very small premium, as the price difference between the ICE and EV versions of the Kona is a lot more than 10%. Even with your explanation, EVs still generally cost more to insure. I agree with you overall on this topic, but you clearly are biased. A common definition of bias is prejudice in favor of one side. My opinions about EVs and ICE vehicles are not prejudice (a preconceived opinion) but based on my own experience of operating/owning both kin...
by chipperd
Tue Aug 02, 2022 11:12 am
Forum: Personal Consumer Issues
Topic: Overall savings between Gas, Hybrid and EV vehicles
Replies: 848
Views: 51858

Re: Overall savings between Gas, Hybrid and EV vehicles

Nevada - Geico We have two cars - the new EV is cheaper to insure: 2014 Camry LE - $517.95 (6 month premium) 2022 Leaf S - $487.10 (6 month premium) 100/300/500 coverage on both cars with $1,000 comp/collision deductible In Nevada registration is a function of the MSRP and age of the car. In Nevada and in your specific case. There are special fees for EVs and PHEVs in many states https://www.ncsl.org/research/energy/new-fees-on-hybrid-and-electric-vehicles.aspx#:~:text=Because%20the%20state's%20EV%20fees,%2450%20for%20hybrid%20electric%20vehicles. and there is a proposal right now to dramatically increase those fees here in Utah. On average, EVs cost ~15% more to insure than comparable ICE vehicles https://www.moneygeek.com/insurance/auto/...
by chipperd
Tue Aug 02, 2022 5:36 am
Forum: Personal Consumer Issues
Topic: Overall savings between Gas, Hybrid and EV vehicles
Replies: 848
Views: 51858

Re: Overall savings between Gas, Hybrid and EV vehicles

Again, as one who is considering an all electric vehicle for purchase in the near future, this thread has been interesting.
Although, for some reason there does seem to be some ICE MPG doubters and emotionality on the EV side of this thread, it's fairly easy to filter out to get to the grains of truth.

I was leaning towards the Bolt prior to this thread and still am after reading through.

I'm an ICE driver but heavy EV proponent. I haven't gone EV b/c the overall cost of ownership numbers (obviously, mainly the initial investment) and payback over my current vehicle don't make the decision easy.

The marketing/pricing folks at GM are good at what they do.

Thanks so much.
by chipperd
Sun Jul 31, 2022 7:00 pm
Forum: Personal Consumer Issues
Topic: Overall savings between Gas, Hybrid and EV vehicles
Replies: 848
Views: 51858

Re: Overall savings between Gas, Hybrid and EV vehicles

I have a Tesla, and drive about 8000 miles a year. According to the Tesla app, based on this and my local electric and gas prices, I am saving $133/month. That doesn't seem right. My legacy gets 35mpg. If I were to drive 8,000 miles per year, that's 667 miles/month. 667 miles driven / 35mpg = 19.06 gallons of gas needed. 19.06 gallons of gas @ current price of $4.15 in my neck of the woods means I would be spending just under $80/month on gas. I believe that app has a homer bias unless it's factoring some small percentage of an oil change that the all electric won't need? The newest Legacy is rated for 35 MPG on the highway, but 27 MPG city and 30 MPG combined. Unless your driving is entirely on the highway, it seems very unlikely you're g...
by chipperd
Sun Jul 31, 2022 6:57 pm
Forum: Personal Consumer Issues
Topic: Overall savings between Gas, Hybrid and EV vehicles
Replies: 848
Views: 51858

Re: Overall savings between Gas, Hybrid and EV vehicles

For anyone reading this thread who's actually considering EVs: notice which posts here are by people with actual experience of EVs, and notice which posts are not. The contrast is striking and very telling - I see this all the time, the people who actually drive one are almost universally enthusiastic, while the ones repeating tired anti-EV talking points they read on Facebook haven't driven one. Dismissing facts by stating folks are posting social media anti EV talking points is hardly accurate and reduces this interesting discussion. There are many facets to this issue and I appreciate that people are posting thoughts from all angles. I get that energy prices and driving patterns vary, and the numbers will pencil out differently for diff...
by chipperd
Sun Jul 31, 2022 12:44 pm
Forum: Personal Consumer Issues
Topic: Overall savings between Gas, Hybrid and EV vehicles
Replies: 848
Views: 51858

Re: Overall savings between Gas, Hybrid and EV vehicles

I'm assuming most/all of that electricity was DC fast charging, which is substantially more expensive than charging at home. Most EV drivers do most of their miles on home/work charging, so the cost advantage will be bigger. For me, the EV costs just 20-25% of what an equivalent ICE vehicle in per-mile energy costs. Yeap, I'm only doing DCFC on cross-continental drive. In my home country I'm charging at home 98% of the time. The app still has to be way off as the cost of gas doesn't even approach the savings number and that's before the cost of charging the Tesla in the manner you note. We all live in jurisidction with different prices. I'll use that same 8000 annual mile prior car: BMW ~350hp consuming 8.7L/100km (27mpg) on mid-grade fuel...
by chipperd
Sun Jul 31, 2022 4:20 am
Forum: Personal Consumer Issues
Topic: Overall savings between Gas, Hybrid and EV vehicles
Replies: 848
Views: 51858

Re: Overall savings between Gas, Hybrid and EV vehicles

02nz wrote: Sun Jul 31, 2022 12:16 am For anyone reading this thread who's actually considering EVs: notice which posts here are by people with actual experience of EVs, and notice which posts are not. The contrast is striking and very telling - I see this all the time, the people who actually drive one are almost universally enthusiastic, while the ones repeating tired anti-EV talking points they read on Facebook haven't driven one.
Dismissing facts by stating folks are posting social media anti EV talking points is hardly accurate and reduces this interesting discussion.
There are many facets to this issue and I appreciate that people are posting thoughts from all angles.
by chipperd
Sun Jul 31, 2022 4:18 am
Forum: Personal Consumer Issues
Topic: Overall savings between Gas, Hybrid and EV vehicles
Replies: 848
Views: 51858

Re: Overall savings between Gas, Hybrid and EV vehicles

hunoraut wrote: Sun Jul 31, 2022 1:09 am
chipperd wrote: Sat Jul 30, 2022 9:09 pm.
I believe that app has a homer bias unless it's factoring some small percentage of an oil change that the all electric won't need?
The app is configurable to rates off-network, and used avg petrol price as comparison. On-network costs are as-billed.
The app still has to be way off as the cost of gas doesn't even approach the savings number and that's before the cost of charging the Tesla in the manner you note.
by chipperd
Sun Jul 31, 2022 4:13 am
Forum: Personal Consumer Issues
Topic: Overall savings between Gas, Hybrid and EV vehicles
Replies: 848
Views: 51858

Re: Overall savings between Gas, Hybrid and EV vehicles

I have a Tesla, and drive about 8000 miles a year. According to the Tesla app, based on this and my local electric and gas prices, I am saving $133/month. That doesn't seem right. My legacy gets 35mpg. If I were to drive 8,000 miles per year, that's 667 miles/month. 667 miles driven / 35mpg = 19.06 gallons of gas needed. 19.06 gallons of gas @ current price of $4.15 in my neck of the woods means I would be spending just under $80/month on gas. I believe that app has a homer bias unless it's factoring some small percentage of an oil change that the all electric won't need? The newest Legacy is rated for 35 MPG on the highway, but 27 MPG city and 30 MPG combined. Unless your driving is entirely on the highway, it seems very unlikely you're g...
by chipperd
Sat Jul 30, 2022 9:09 pm
Forum: Personal Consumer Issues
Topic: Overall savings between Gas, Hybrid and EV vehicles
Replies: 848
Views: 51858

Re: Overall savings between Gas, Hybrid and EV vehicles

Normchad wrote: Sat Jul 30, 2022 11:09 am I have a Tesla, and drive about 8000 miles a year.

According to the Tesla app, based on this and my local electric and gas prices, I am saving $133/month.
That doesn't seem right.
My legacy gets 35mpg.
If I were to drive 8,000 miles per year, that's 667 miles/month.
667 miles driven / 35mpg = 19.06 gallons of gas needed.
19.06 gallons of gas @ current price of $4.15 in my neck of the woods means I would be spending just under
$80/month on gas.
I believe that app has a homer bias unless it's factoring some small percentage of an oil change that the all electric won't need?
by chipperd
Wed Jul 27, 2022 3:03 am
Forum: Investing - Theory, News & General
Topic: Why does the 60/40 portfolio take so much heat?
Replies: 62
Views: 6672

Re: Why does the 60/40 portfolio take so much heat?

tvubpwcisla wrote: Tue Jul 26, 2022 9:27 pm I see a lot of negativity around the 60/40 portfolio and I am not sure why. It seems to be a good option for some?
Negativity sells.
Good for some, not so for others.
YMMV.
Why do you ask?
by chipperd
Wed Jul 27, 2022 2:58 am
Forum: Personal Finance (Not Investing)
Topic: How much to pay neighbor for house sitting?
Replies: 144
Views: 12717

Re: How much to pay neighbor for house sitting?

Looking at that list, 15 min seems like a low ball number on the amount of time, esp I read it's 2x/day?
Kid also has to walk over and back, forgo plans with friends, make arrangements to have parents cover for him/her if there is a conflict with sports/activity, etc....

Seems more like 30-45 min/day, plus the PIA factor, but you know those chores better than I.

$100 for the week seems like a nice round number.
They are your neighbors.
by chipperd
Tue Jul 26, 2022 4:45 am
Forum: Personal Finance (Not Investing)
Topic: In Search Of Decent Cost of Living Comparison Calc
Replies: 14
Views: 1561

Re: In Search Of Decent Cost of Living Comparison Calc

Yeah, that one seems the best of the lot
Thanks
by chipperd
Tue Jul 26, 2022 4:36 am
Forum: Personal Finance (Not Investing)
Topic: In Search Of Decent Cost of Living Comparison Calc
Replies: 14
Views: 1561

Re: In Search Of Decent Cost of Living Comparison Calc

In a prior job, this was an area I spent some time working on for corporate purposes. The grand conclusion was COL is incredibly difficult to quantify. Consider housing people have widely varying needs, some people are fine in a studio apartment, others want a large house in an excellent school district. Many look at a basket of groceries, but if you’re in NYC you may not cook much. Kids throw a huge wrinkle into it, day care cost, the desirability or necessity of private school. In essence the calculator may help with HR or a hiring manager, but for your own purposes you’ll want to build out your own, starting with taxes, then the big 3: housing, food and transportation, as well as any other relevant costs e.g. healthcare, childcare. Than...
by chipperd
Mon Jul 25, 2022 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: In Search Of Decent Cost of Living Comparison Calc
Replies: 14
Views: 1561

Re: In Search Of Decent Cost of Living Comparison Calc

In running about 4 different cost of living comparison calculators, I am seeing a wide variance in results, which puts all results in question in my mind. If you use one calculator, you'll have an answer. If you use more than one, you won't have an answer. This one sounds the most reliable (https://www.erieri.com/cost-of-living-calculator) but has a result on the far end of the spectrum of results. What makes it sound most reliable? Why the fancy, shmancy name ofcourse! These calculators are just guesses and at best an approximation of the actual cost of living differences for an individual. They would be most accurate if you are an average person, spending an average amount in the exact cities listed. If you live in a "nearby" c...
by chipperd
Sun Jul 24, 2022 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: In Search Of Decent Cost of Living Comparison Calc
Replies: 14
Views: 1561

Re: In Search Of Decent Cost of Living Comparison Calc

Congrats to your kid on the job offers! I use this calculator to get a sense of minimum cost of living across different family compositions and locations. https://selfsufficiencystandard.org/calculator/ This calculator has a detailed methods page-- https://selfsufficiencystandard.org/the-standard/methodology/-- where it explains the data sets it is using to calculate all the different categories (housing, food, child care, transportation, etc). The most recent update was in 2021; however the issue as you have pointed out is that the data used for each update is often old by the time it is incorporated into the calculator and plus with inflation surging so recently the numbers may already be out of date for certain categories or locations. ...
by chipperd
Sun Jul 24, 2022 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: In Search Of Decent Cost of Living Comparison Calc
Replies: 14
Views: 1561

Re: In Search Of Decent Cost of Living Comparison Calc

I'd be skeptical, as you are, of any cost of living calculator. The link below might be of interest. If I understand it correctly, you can set up a personal basket of goods and get a more personalized inflation rate since you can exclude things you don't buy. https://www.wsj.com/articles/inflation-tracker-cpi-data-prices-11657717467?st=qkhvtrapgbd6zql&reflink=desktopwebshare_permalink Regards, Thanks, That is interesting but not really the data I'm after. Trying to find the delta in the cost of living between two locations to see how job offers stack up. IE: If I make 50k/year in Milwaukee, what is the equivalent salary in say, Los Angeles? It's not only of interest but I believe will be used as a salary negotiation tactic. Thanks again
by chipperd
Sun Jul 24, 2022 11:43 am
Forum: Personal Finance (Not Investing)
Topic: In Search Of Decent Cost of Living Comparison Calc
Replies: 14
Views: 1561

In Search Of Decent Cost of Living Comparison Calc

Hello all,

One of our kids has a couple job offers in different cities in the U.S.

In running about 4 different cost of living comparison calculators, I am seeing a wide variance in results, which puts all results in question in my mind.

This one sounds the most reliable (https://www.erieri.com/cost-of-living-calculator) but has a result on the far end of the spectrum of results.

I can't seem to find out how up to date the data is that these calcs are using. Given the recent inflation uptick, fresh data would seem to be a strong driver of validity.

Anyone know of an up to date COL calc that is of decent validity?

Thanks
by chipperd
Sat Jul 23, 2022 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Separate property and "fairness" in marriage
Replies: 129
Views: 13726

Re: Separate property and "fairness" in marriage

It seems all in together or all separate is the way most couples go to avoid just this issue.

You walk down the middle of the road, you get hit by cars going both ways.
by chipperd
Sat Jul 23, 2022 12:50 pm
Forum: Personal Consumer Issues
Topic: Renting out backyard pool to strangers
Replies: 113
Views: 11840

Re: Renting out backyard pool to strangers

snackdog wrote: Fri Jul 22, 2022 11:12 pm Plenty of small condo associations have a small un-manned pool which is busy all day, sometimes even with strangers who sneak in. Nearby units put up with the noise. The HOA can afford the insurance. Seems like a reasonable thing to rent out ones own pool if some rules are followed and it's not too disruptive. The article makes it sound fairly lucrative. And a lot of people who installed pools during the pandemic may be wishing they had more income now that inflation is raging and the economy is slowing.
I mean someone's got to be contrarian...
by chipperd
Fri Jul 22, 2022 3:11 pm
Forum: Personal Consumer Issues
Topic: Renting out backyard pool to strangers
Replies: 113
Views: 11840

Re: Renting out backyard pool to strangers

sabhen wrote: Fri Jul 22, 2022 11:28 am We have a backyard pool. I came across an article on CNBC that shows that it could be a lucrative side hussle.

https://www.cnbc.com/2022/07/21/swimply ... ngers.html

There are always pros/cons. Impact of insurance, liability, noise, local regulations, etc.. to be weighed against the income generated.

Appreciate any bogleheads experience/views as consumers or as pool owners as well.
I smell a reality t.v. show.
by chipperd
Fri Jul 22, 2022 5:06 am
Forum: Personal Investments
Topic: HELP - How to Allocate $5M in retirement funds
Replies: 34
Views: 6561

Re: HELP - How to Allocate $5M in retirement funds

My bias is that fewer funds make life simpler, but that isn't necessarily true for others.

I like the idea of "giving with a warm hand" since that's your mom's wishes.

I also like the idea of Roth conversions others have mentioned.

I'll leave the RMD math to other's with more experience, but that does seem to be something that the OP needs to take a long hard look at on his mom's behalf.

:sharebeer
by chipperd
Fri Jul 22, 2022 4:52 am
Forum: Personal Consumer Issues
Topic: Buying a pool
Replies: 34
Views: 3813

Re: Buying a pool

I’m looking forward to the first “I had a pool but filled it in” post. To stay on your question, assuming the look doesn’t bother you too much, I’d go the lower cost route. You could do that ten times before you get to the all in cost of a “real” above ground pool. Your wait is over! Just got rid of our above ground pool. Our kids are older now and I was the main user and maintainer of the pool, but I've lost interest. Probably b/c I now swim laps in the winter? We also have a lake 10 mins away where I swim with the dog. Dog wouldn't go in our a/g pool. Didn't think the time and $ was worth the few times I would really enjoy a dip after mowing the lawn. Doing a reverse data collection of the OP now that it's hot in the NE and it's looking ...
by chipperd
Fri Jul 22, 2022 4:44 am
Forum: Personal Investments
Topic: Enough!...Enough?? 1 more year to go before retirement.
Replies: 40
Views: 7202

Re: Enough!...Enough?? 1 more year to go before retirement.

Question: Why are folks recommending the survivor benefit option (presumed to be 42k/year) vs the non survivor benefit option for the pension (presumed to be 50k/year)? Couldn't the 8k/year difference be covered by 200k in life insurance for 30 years for much less than 8k*30 years=240k? There is not a non-survivor option in NJ. The lowest option is 25% to survivor. Wife would have to agree in writing to accept this option (many won't agree). Many people are not insurable, or expensive to insure for 30 years. USAA (for one) won't offer a 30 year policy to any 55 year old male. If husband died right after retirement, wife would lose $37,500 per year but gain $250,000 insurance lump sum. The insurance amount only replaces about 6 years and 8 ...
by chipperd
Thu Jul 21, 2022 2:48 pm
Forum: Personal Investments
Topic: Enough!...Enough?? 1 more year to go before retirement.
Replies: 40
Views: 7202

Re: Enough!...Enough?? 1 more year to go before retirement.

Question: Why are folks recommending the survivor benefit option (presumed to be 42k/year) vs the non survivor benefit option for the pension (presumed to be 50k/year)?
Couldn't the 8k/year difference be covered by 200k in life insurance for 30 years for much less than 8k*30 years=240k?
by chipperd
Thu Jul 21, 2022 6:37 am
Forum: Personal Investments
Topic: Are we on track to retire in 7-8 years?
Replies: 14
Views: 4812

Re: Are we on track to retire in 7-8 years?

You and your wife's social security numbers are an important factor in answering your question. Perhaps start here: https://ssa.tools/calculator.html to figure out both your and your spouses social security numbers based on no income in 7 years. Then move to here with those numbers: https://opensocialsecurity.com/ to get an idea of what your looking at for a monthly income and when. For example, if you and your spouse have a PIA of just $1,500 each (I suspect it may wind up being higher) you will have a household income of about $12k/year coming in at age 62. Then, if you use the recommendation, that increases to $35k/year at age 70 when you both start collecting. So, continuing with that idea, if you needed say 90k/year at age 70 (since mo...
by chipperd
Wed Jul 20, 2022 5:33 am
Forum: Personal Finance (Not Investing)
Topic: Lay off
Replies: 35
Views: 5188

Re: Lay off

The answer really depends on your expenses, both current and planned.
Can you state what your expenses are per month or year and if you have additional expenses coming down the road (ie: college costs)?