Search found 1009 matches

by Wricha
Mon Mar 18, 2024 5:51 am
Forum: Personal Consumer Issues
Topic: Buying an Expensive Car
Replies: 101
Views: 8720

Re: Buying an Expensive Car

Hi - have a pretty straightforward question. Recently totaled my existing vehicle (cabinet drawer fell out of the back of a truck in front of me) and received an insurance payout of 17k. Need to purchase a car, and was thinking about getting my dream car (~100k). I’m 30 years old, single, make 260k per year, with a confirmed path to 330k by 33 (vesting stock). Net worth is currently 700k, with 300k in retirement and 400k in savings. No house, and live in a HCOL, with a rent of 2600 per month. No other debt. Was going to buy the car cash - but not sure if it’s a financially ruining decision! Buying new because 1-2 years used only offers a 5-6% discount in the current market. Would appreciate any advice! :confused Subaru Forester Honda Passp...
by Wricha
Mon Mar 11, 2024 8:45 am
Forum: Personal Consumer Issues
Topic: Wisdom of cross-country, one-way RV rental (with a cat)
Replies: 37
Views: 3141

Re: Wisdom of cross-country, one-way RV rental

What could go wrong if you don't like it, fly wife and two young kids to east coast you and two older kids drop RV off in Reno or as far as you get and make it a two or three day road trip.
by Wricha
Sat Mar 09, 2024 9:32 am
Forum: Personal Investments
Topic: My Tbill Matured & Vanguard Paid Me Twice
Replies: 7
Views: 1515

Re: My Tbill Matured & Vanguard Paid Me Twice

dbc47 wrote: Fri Mar 08, 2024 8:56 am Just checked this morning and all is as it should be. I was really hoping that they were going to pay my Tbill interest twice but I guess it just wasn't going to be. An extra $1,500 would have been a nice surprise though. :sharebeer
Doc Holiday -Johnny Ringo is educated man now I really hate him.
by Wricha
Wed Mar 06, 2024 8:32 am
Forum: Personal Consumer Issues
Topic: Specs For Stainless Cable Deck Railing
Replies: 8
Views: 1101

Re: Specs For Stainless Cable Deck Railing

Globalviewer58 wrote: Tue Mar 05, 2024 6:14 pm I used materials from ViewRail to install a cable staircase rail system and made the handrails from local lumberyard items. See www.viewrail.com for a gallery of projects, materials, installation instructions and tools supplied with your purchase. You could look on eBay for a used crimper tool but be aware that the tool “jaw” wears from use.
Used ViewRail for glass railing. Very high quality materials , good support and engineering, and they stand behind their products 100%.
by Wricha
Sat Feb 24, 2024 8:10 am
Forum: Personal Consumer Issues
Topic: insights on living in the Blue Ridge Mountain region?
Replies: 27
Views: 4921

Re: insights on living in the Blue Ridge Mountain region?

We moved to the blue ridge mountain area about 8 years ago. I would say you picked a great area. You can not make a mistake in the mountain towns around Asheville. One word of caution I would avoid Asheville proper, the downtown area in particular. Asheville has deteriorated significantly in the past few years. We would go to dinner a couple days a week in Asheville, haven’t been there in the evening since Covid.
by Wricha
Sun Jan 28, 2024 10:14 am
Forum: Investing - Theory, News & General
Topic: White Coat Investor interviews Taylor Larimore for his 100th Birthday
Replies: 6
Views: 1369

Re: White Coat Investor interviews Taylor Lattimore for his 100th Birthday

bradinsky wrote: Sun Jan 28, 2024 9:48 am Please correct Taylor’s last name, in the title.
And I don’t believe the Americans surrounded the Germans (Bastogne in 1944) just the opposite.
by Wricha
Tue Jan 23, 2024 2:18 am
Forum: US Chapters
Topic: 🎁 🎉Happy 100th Birthday to Taylor Larimore 🎊🎂
Replies: 429
Views: 43345

Re: 🎁 🎉Happy 100th Birthday to Taylor Larimore 🎊🎂

I had similar experience as OP in that first the person I meet at the boglehead conference (who took the time to show me around) was Taylor what a kind man! Thank you and Happy Birthday.
by Wricha
Fri Jan 19, 2024 5:11 pm
Forum: Personal Consumer Issues
Topic: what to put in a time capsule that will be valuable in 50 or 100 years?
Replies: 65
Views: 6406

Re: what to put in a time capsule that will be valuable in 50 or 100 years?

2ball wrote: Sun Jan 14, 2024 10:03 pm Ok so my group is hiding time capsules around with the intent that they will not be discovered for 50 years, 100 years or even longer.
What do you think we could put in the Time Capsule that will be valuable when its discovered in 50 to 200 years?

I wouldn't want to spend much money on this below $100 for sure.
Common sense
by Wricha
Fri Jan 19, 2024 10:07 am
Forum: Personal Finance (Not Investing)
Topic: It Does not Seem to Make Sense for Me to Ever Pay Home off Early
Replies: 51
Views: 5661

Re: It Does not Seem to Make Sense for Me to Ever Pay Home off Early

My take is slightly different. I would pay down all debt (which is what I did) this frees you up to take bigger risks as you are debt free. I know this is unpopular but got involved with real estate (commercial) which beat the S&P by a significant margin over 25-30 years. Had I had a mortgage I would never of taken the chance. But that’s my experience.
by Wricha
Fri Jan 19, 2024 9:59 am
Forum: Investing - Theory, News & General
Topic: What motivated you to save money?
Replies: 232
Views: 28387

Re: What motivated you to save money?

What motivated you to save money? Freedom is my common theme. When I was a kid in the 60’s, the youngest in a family of 6 kids, we had what we needed (dad had good gov job). But there was never any extra money around. As the youngest I fended for myself. When I could, I got a newspaper route and cut neighbors lawns as a 12-15 yr old and it was a sense of FREEDOM and pride to always have a few bucks in my pocket to go to concerts or to buy a nice pair of sneakers (green suede puma’s were the thing =$30). Of course mad magazine with Alfred e Neumann rebelling against society and the comic strip Richie Rich were part of my childhood heroes. Either you are slightly younger or a rich kid! The gold standard for tennis shoes/sneakers in my neighb...
by Wricha
Tue Jan 16, 2024 5:46 am
Forum: Investing - Theory, News & General
Topic: What motivated you to save money?
Replies: 232
Views: 28387

Re: What motivated you to save money?

What motivated you to save money? Freedom is my common theme. When I was a kid in the 60’s, the youngest in a family of 6 kids, we had what we needed (dad had good gov job). But there was never any extra money around. As the youngest I fended for myself. When I could, I got a newspaper route and cut neighbors lawns as a 12-15 yr old and it was a sense of FREEDOM and pride to always have a few bucks in my pocket to go to concerts or to buy a nice pair of sneakers (green suede puma’s were the thing =$30). Of course mad magazine with Alfred e Neumann rebelling against society and the comic strip Richie Rich were part of my childhood heroes. Either you are slightly younger or a rich kid! The gold standard for tennis shoes/sneakers in my neighb...
by Wricha
Tue Jan 02, 2024 12:03 pm
Forum: Investing - Theory, News & General
Topic: 2024 BOGLEHEAD CONTEST REGISTRATION
Replies: 579
Views: 40026

Re: 2024 BOGLEHEAD CONTEST REGISTRATION

Perhaps 5121
by Wricha
Sun Dec 31, 2023 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: At what net worth did you start not sweating the "small stuff"
Replies: 137
Views: 28574

Re: At what net worth did you start not sweating the "small stuff"

Net worth has always been a term that does mean that much to me. I was self employed for 25 years and have commercial real estate interests. Cash flow is a number that always got my attention. When my cash flow exceeded my expenses most everything is now small stuff. Many years ago I wrecked the car in driveway 100% my fault (believe me I was looking for a scapegoat!). I was mad and friend said if your money can’t buy you out of bad situation what good is it. Took the car to the shop did not turn in to insurance ($2k in damages) and never thought about that small stuff again.
by Wricha
Sun Dec 24, 2023 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance Financial/Moral Dilemma
Replies: 105
Views: 13299

Re: Inheritance Financial/Moral Dilemma

dadjunk wrote: Fri Dec 22, 2023 8:08 am Thank you all. Yes, 50/50 is the right answer.

@camden... "The conversation I would have with them would be “You will each receive half. And I’d like to think that I have raised children who are generous and who would each help the other if help was needed.”

Great advice regarding conversation.
50/50 and leave the guilt out of it (I raised you right)
by Wricha
Sun Dec 24, 2023 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Home Insurance is Increasing 60% This Year
Replies: 70
Views: 9152

Re: Home Insurance is Increasing 60% This Year

NYCaviator wrote: Thu Dec 21, 2023 8:01 am Sometimes the cheapest insurance isn't always the best. You may be saving a few bucks, but are you going to have to sue your insurance company to get them to pay any time you have a claim?
And sometime it's better! I bought the best rated company available before Ian. My neighbor bought a low rated company $3K cheaper than mine. Unfortunately, when the hurricane hit the higher rated company had the lion's share of the market and suffered major losses. The lower rated company only had a handful of claims (because everyone wanted the best). My neighbor settled with in a month (was over paid in my opinion). 15 months later I still can't get the higher rated company to even pay what their adjuster identified.
by Wricha
Sun Dec 24, 2023 4:39 pm
Forum: Investing - Theory, News & General
Topic: A Christmas Message
Replies: 140
Views: 14657

Re: A Christmas Message

Thank you Taylor
by Wricha
Sat Dec 09, 2023 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 4288
Views: 1082074

Re: Share your net worth progression

Here is a late 2022 update with about 380 respondents who provided age and net worth info in the last couple years. Most people update in late Dec or Jan. If so, can refresh. Note log scale for net worth in millions. Trend line is shaky above age 50 when we seem to run light on data (who said BHers were old??) and appears to show some droop (as people spend!?). Table shows stats by age group, e.g. 0.1 means 10 percent of respondents have this net worth or less. https://i.ibb.co/qRTggLL/Screenshot-2022-12-10-155547.jpg Quite a few new younger respondents this year. Means rose slightly. Medians stable. Could still use a few more "seasoned" respondents. https://i.postimg.cc/ZKNw0ypd/BH-net-worth.png In my 60's I don't think much abo...
by Wricha
Sun Nov 26, 2023 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Owning 2 homes - Is it worth it?
Replies: 48
Views: 6887

Re: Owning 2 homes - Is it worth it?

I have owed a second home in Fl for 25 years and do not rent it out. I like the flexibility of showing up anytime and having all my stuff (including cars) waiting there. Show up at the airport with only my iPad (priceless). Door to door under 4 hours so a weekend is doable. With that said, you need to able to afford grass cutting, pool service, cleaning etc. who wants to do this?
I do not regret owning 2 homes but over a year ago a Cat 5 hurricane (Ian) hit us directly and that was cause to pause. Now that I am 90% complete the sting of the hurricane is beginning to fade.
by Wricha
Wed Nov 22, 2023 6:07 am
Forum: Personal Consumer Issues
Topic: Presidential Libraries
Replies: 28
Views: 3486

Re: Presidential Libraries

vested1 wrote: Tue Nov 21, 2023 7:55 am I've never been to any of the presidential libraries, thanks for all for the suggestions.

My wife and I did visit Dealey Plaza in Dallas and the 6th floor museum of the Texas School Book Depository however, which was more emotional and impactful than I had imagined it would be. If they're old enough, everyone remembers where they were when JFK was assassinated.
Book Depository really blew me away (Not a JFK groupie). Signs as you enter stating this is an emotional experience for some, I thought how is that possibly? Well, I was one of those wingnuts. It transports you back to 1963 well done.
by Wricha
Fri Nov 10, 2023 5:51 pm
Forum: Personal Consumer Issues
Topic: Recommend Replacement Hurricane/Impact Windows for FL…
Replies: 17
Views: 1630

Re: Recommend Replacement Hurricane/Impact Windows for FL…

I just replaced mine with PGT windows (Tampa Bay area). Estimates were all over the map. They all seemed shockingly high. PGT seemed to be the most recommended window, but it didn't seem to have much impact on overall price. Get a lot of estimates, play them against each other, and try to go with a highly regarded installer (though I am not really sure how to evaluate that). I lost $450k worth of windows during Ian. The single pane widows held up in the Cat 5 hurricane but all the seals were compromised. A few lower windows broke but I suspect that was do to being hit with large object cars, refrigerators etc during storm surge. I replaced the whole house with PGT windows and for large porch deck I used Nana Wall windows (expensive). As me...
by Wricha
Fri Nov 10, 2023 3:10 pm
Forum: Personal Consumer Issues
Topic: Recommend Replacement Hurricane/Impact Windows for FL…
Replies: 17
Views: 1630

Re: Recommend Replacement Hurricane/Impact Windows for FL…

I just replaced mine with PGT windows (Tampa Bay area). Estimates were all over the map. They all seemed shockingly high. PGT seemed to be the most recommended window, but it didn't seem to have much impact on overall price. Get a lot of estimates, play them against each other, and try to go with a highly regarded installer (though I am not really sure how to evaluate that). I lost $450k worth of windows during Ian. The single pane widows held up in the Cat 5 hurricane but all the seals were compromised. A few lower windows broke but I suspect that was do to being hit with large object cars, refrigerators etc during storm surge. I replaced the whole house with PGT windows and for large porch deck I used Nana Wall windows (expensive). As me...
by Wricha
Tue Nov 07, 2023 6:34 pm
Forum: Personal Consumer Issues
Topic: Do they bargain at Tiffany's
Replies: 102
Views: 13187

Re: Do they bargain at Tiffany's

Tiffany advice: I was a newly minted army officer (many years ago). My girlfriend at the time and I went to Tiffany's to get an engagement ring as I was stationed outside New York. We went in the store (very intimidating) and I asked the sale women if she had an engagement ring in silver? She looked at me with as much distain as any human could muster and said "Sir at Tiffany's we sell gold, white gold or platinum". Remember to keep your necklace choices to those 3.
by Wricha
Tue Nov 07, 2023 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: co-owning a house with family member
Replies: 13
Views: 2071

Re: co-owning a house with family member

This is an easy one........Don't
by Wricha
Tue Nov 07, 2023 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Help with reply to home inspections- sellers perspective
Replies: 103
Views: 9392

Re: Help with reply to home inspections- sellers perspective

I don't know if this was suggested. You mentioned you were paying 6% to the realtor that is too much 5% is what most folks pay. Given recent developments in the real estate market 5% is too high. Seriously, I would get your agent to accept 5% and use the difference to pay for radon. He/She will cave to the 5% rather than lose the whole deal.

This is the quickest way to get your agent back on your team. You will see how quick he will fight on your behalf particularly when he is on the hook for it.
by Wricha
Mon Nov 06, 2023 6:45 am
Forum: Personal Finance (Not Investing)
Topic: Buying a 120k car... yes, I need your help
Replies: 275
Views: 34105

Re: Buying a 120k car... yes, I need your help

I have worked with hundreds of docs over my career. Plus been involved in multiple real estate deals (investments) outside the profession with docs, I got to experience physicians first hand with their personal finances. Some are terrific and some are disasters plus I have owned 911’s for 30 years so I get the Porsche obsession. And a Boxster will never satisfy that itch. Given that you paid down $400k in debt, first and quickly I would guess you will do well with your personal finances. With that said go buy it, chances are you will keep that car for a long time. If you don’t buy now you certainly will in your fifties. I honestly don’t think you care, nor should you what non Porsche people think (when you start that car early in morning an...
by Wricha
Sun Nov 05, 2023 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: For those retired or FI, how much do you spend annually?
Replies: 499
Views: 80204

Re: For those retired or FI, how much do you spend annually?

Does anybody spend significantly more than $90k/year in retirement? I speak with hundreds of retirees each year. Most are HNW individuals or couples. The median budget in retirement is about $70,000 - this includes travel but does not include income tax or gifts. Only about 10% of the retirees I speak with spend more than $100,000 per year, and that's usually because they have two homes or travel extensively. Rick Ferri I wonder how much this has changed in the nearly 3 years since Rick Ferri made this comment. We’ll soon be fully retired and I cannot see how we could get to $70,000, not including tax or gifts. We have no mortgage, have no dependents to support, and we do not partake in luxury travel, so our expenses are not unusually high...
by Wricha
Thu Nov 02, 2023 7:51 am
Forum: Personal Finance (Not Investing)
Topic: Home Sellers Win $1.8 Billion After Jury Finds Conspiracy Among Realtors
Replies: 421
Views: 47258

Re: Home Sellers Win $1.8 Billion After Jury Finds Conspiracy Among Realtors

The only time we've sold a house, the real estate agent hired a photographer for photos, wrote up the listing, had a buyer before we even listed the house, and they offered our full asking price, so we accepted it before even going on the market, due to some massive flexibility the buyer was willing to have. The agent got both sides of the commission, or about $30,000 for their work, which couldn't have taken them more than 40 hours of their time (being generous), in TOTAL, for all parts of both sides of the transaction. They easily made $500-$1,000/hour for the time spent on our deal. You're not paying them for the time they took to do the job. You're paying them for the decades of time it took to gain the experience for them to learn how...
by Wricha
Wed Nov 01, 2023 8:34 pm
Forum: Investing - Theory, News & General
Topic: New tool for building a TIPS ladder
Replies: 426
Views: 81335

Re: New tool for building a TIPS ladder

Thank you so much. Really appreciated it.
by Wricha
Wed Nov 01, 2023 2:10 pm
Forum: Investing - Theory, News & General
Topic: New tool for building a TIPS ladder
Replies: 426
Views: 81335

Re: New tool for building a TIPS ladder

I am getting an error message when I try to access Tipsladder.com. Or is it just me?
by Wricha
Tue Oct 31, 2023 7:07 am
Forum: Personal Investments
Topic: How to deal with the mental part of being invested in this market
Replies: 104
Views: 17496

Re: How to deal with the mental part of being invested in this market

Taylor Larimore wrote: Fri Oct 27, 2023 10:28 am BoglyIndex:

Our namesake, John Bogle, was not fond of leverage:
"As for leveraged and inverse ETFs, Bogle says this is where the "fruitcakes, nut cases and lunatic fringe" can be found. "There's just no possibility or any realistic way that you're going to win that bet," he says about leveraged ETFs."
https://www.forbes.com/sites/davidmarot ... 81178761e9

Best wishes.
Taylor
Jack Bogle's Words of Wisdom: "We ignore the real diamonds of simplicity, seeking instead the illusory rhinestones of complexity. This business is all about simplicity and low cost."
Taylor,
That first quote by Mr Bogle priceless.
by Wricha
Thu Oct 19, 2023 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Are there any different financial considerations/rules for a childless couple?
Replies: 102
Views: 13168

Re: Are there any different financial considerations/rules for a childless couple?

Bumping this thread, if I may, because it's a timeless discussion, and is (in my opinion) the best of the "how do we invest differently, if we don't have kids" threads on BH. Now in a time of tumult in the markets, spasms of uncertainty and worries about recessions, it would seem, that persons without family responsibilities, would feel a certain composure, as less apparently is at stake. Is this true? I am not finding that to be the case. The odd realization is that my financial considerations - savings, retirement, plans for the future - are much the same, as a single person with no kids or other relatives, than were I to have had a spouse, children, still-living parents, siblings and so on. Why? Because if one wishes to preser...
by Wricha
Sun Oct 08, 2023 6:06 pm
Forum: Personal Investments
Topic: Annuity if you don’t need it.
Replies: 95
Views: 10219

Re: Annuity if you don’t need it.

Most people I have talked to advise against me buying an annuity but I keep coming back to it. We live a very good lifestyle (we don’t want for anything). Do not have any heirs that need our help, thankfully. plan on leaving estate to charity. Our withdrawal rate is under 1.5% ( asset allocation is not important). Waiting till we reach 70 to take SS, no debt, all positive financial indicators. My question, is should we purchase an annuity to cover our living expenses as a backup to some unforeseen event or health care issue. This annuity would cost about 17% of net worth. Is an annuity advisable for this situation? Age 68 and withdrawal rate under 1.5%. That's well over 50 times expenses. A SPIA isn't a good fit unless you want to gift ear...
by Wricha
Sat Sep 16, 2023 9:09 pm
Forum: Personal Investments
Topic: Annuity if you don’t need it.
Replies: 95
Views: 10219

Re: Annuity if you don’t need it.

I look at it as insurance OP, and there's two reasons for it: 1. Financial. The worst happens you don't run out of money. In your case with a withdrawal rate of 1.5% before SS kicks in I doubt you need the insurance. Not sure how it protects you from large medical expenses given the money that might be spent on an annuity is basically transferring between your own pockets. 2. Emotional. A guaranteed monthly paycheck is a nice thing to have. I have rental income coming in (and social security in 10 years) so I have some form of a somewhat guaranteed income floor. That's enough for me to sleep soundly but experiences (and emotions) differ here. The idea of basic expenses being "guaranteed" for life is admittedly appealing. I also h...
by Wricha
Thu Sep 14, 2023 5:42 pm
Forum: Personal Investments
Topic: Annuity if you don’t need it.
Replies: 95
Views: 10219

Re: Annuity if you don’t need it.

grabiner wrote: Thu Sep 14, 2023 12:56 pm
David Jay wrote: Wed Sep 13, 2023 6:47 pm Only if you want to leave less to your favorite charities.
If you want to leave money to charity and already have enough, then you might buy a charitable gift annuity. This gives you an income tax deduction for the charitable value (the amount that the charity expects to gain by funding the annuity); if you leave assets to charity in your will, there is no income tax deduction.
Thank you I’ll check it out
by Wricha
Thu Sep 14, 2023 6:21 am
Forum: Personal Investments
Topic: Annuity if you don’t need it.
Replies: 95
Views: 10219

Re: Annuity if you don’t need it.

sc9182 wrote: Wed Sep 13, 2023 10:53 pm Is this me or just aberration in my observation!?

Is there a good overlapping set of population - which loves pensions/annuities but SOOOO hates age 75 RMDs (from the bottom of their heart) !?
I think that is an excellent observation.
by Wricha
Thu Sep 14, 2023 6:19 am
Forum: Personal Investments
Topic: Annuity if you don’t need it.
Replies: 95
Views: 10219

Re: Annuity if you don’t need it.

Thanks, you guys have hit all my thoughts and fears. Particularly, doing something stupid/medically impaired. I do think financially it’s kinda of wash, death dependent. I am viewing an annuity as a large bond fund and possibly reducing my current fixed income. To answer the question on SS the amount of SS is not significant to lower the withdrawal rate by much.
by Wricha
Wed Sep 13, 2023 7:52 pm
Forum: Personal Investments
Topic: Annuity if you don’t need it.
Replies: 95
Views: 10219

Re: Annuity if you don’t need it.

Most people I have talked to advise against me buying an annuity but I keep coming back to it. We live a very good lifestyle (we don’t want for anything). Do not have any heirs that need our help, thankfully. plan on leaving estate to charity. Our withdrawal rate is under 1.5% (asset allocation is not important). Waiting till we reach 70 to take SS, no debt, all positive financial indicators. My question, is should we purchase an annuity to cover our living expenses as a backup to some unforeseen event or health care issue. This annuity would cost about 17% of net worth. Is an annuity advisable for this situation? I assume you’re talking about a single premium immediate annuity (SPIA). Is that correct? If so, based on your 1.5% withdrawal ...
by Wricha
Wed Sep 13, 2023 7:45 pm
Forum: Personal Investments
Topic: Annuity if you don’t need it.
Replies: 95
Views: 10219

Re: Annuity if you don’t need it.

Yes I am talking SPIA. Two years from 70
by Wricha
Wed Sep 13, 2023 6:23 pm
Forum: Personal Investments
Topic: Annuity if you don’t need it.
Replies: 95
Views: 10219

Annuity if you don’t need it.

Most people I have talked to advise against me buying an annuity but I keep coming back to it. We live a very good lifestyle (we don’t want for anything). Do not have any heirs that need our help, thankfully. plan on leaving estate to charity. Our withdrawal rate is under 1.5% (asset allocation is not important). Waiting till we reach 70 to take SS, no debt, all positive financial indicators. My question, is should we purchase an annuity to cover our living expenses as a backup to some unforeseen event or health care issue. This annuity would cost about 17% of net worth. Is an annuity advisable for this situation?
by Wricha
Sun Sep 10, 2023 4:46 am
Forum: Personal Consumer Issues
Topic: [resolved] Should I buy a car to drive 100 miles a month?
Replies: 96
Views: 8026

Re: Should I buy a car to drive 100 miles a month?

His car
Our condo
Saving for our house

You need a car
by Wricha
Sun Sep 03, 2023 6:11 pm
Forum: Personal Investments
Topic: Is my personal situation sound?
Replies: 50
Views: 4157

Re: Is my personal situation sound?

Give that expense are not specifically posted. My guess based on the information provided. You could easily walk out the door when you make the last college payment on the youngest child.
by Wricha
Thu Aug 31, 2023 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Help Annette Keep Working and Not Retire
Replies: 648
Views: 63003

Re: Help Annette Keep Working and not retire

:| My main ones are: I want to keep alert, continue to make a good income, keep active, keep saving and investing and stay relevant. Alert, keep active, and stay relevant are probably not dependent on working vs retirement. For example: Relevant This is going to begin to to fade irrespective of working or retirement. The first half of ones life, one works on life (achievements, successes and of course accumulation = being relevant). Second half of life life works on you (death of friends, change is too fast, sphere of influence diminishes = less relevant). Moving from achieving to enjoying phase of life happens and it will take you kicking and screaming. Once once accepts this less relevant role, life becomes exciting again trying to stay ...
by Wricha
Tue Aug 22, 2023 3:25 pm
Forum: Personal Consumer Issues
Topic: Can one own a Porsche 911 that is not a money pit?
Replies: 86
Views: 15283

Re: Can one own a Porsche 911 that is not a money pit?

Almost 30 years of 911 ownership I never experienced anything close to a money pit. They all were pretty easy on the wallet after paying for the car. One person experience.
by Wricha
Sun Aug 20, 2023 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Help Annette Keep Working and Not Retire
Replies: 648
Views: 63003

Re: Help Annette Keep Working and not retire

My main ones are: I want to keep alert, continue to make a good income, keep active, keep saving and investing and stay relevant. Alert, keep active, and stay relevant are probably not dependent on working vs retirement. For example: Relevant This is going to begin to to fade irrespective of working or retirement. The first half of ones life, one works on life (achievements, successes and of course accumulation = being relevant). Second half of life life works on you (death of friends, change is too fast, sphere of influence diminishes = less relevant). Moving from achieving to enjoying phase of life happens and it will take you kicking and screaming. Once once accepts this less relevant role, life becomes exciting again trying to stay rele...
by Wricha
Thu Aug 03, 2023 5:14 pm
Forum: Personal Investments
Topic: Should I pay off mortgage rather than invest?
Replies: 7
Views: 1101

Re: Should I pay off mortgage rather than invest?

I’d do both. Get rid of the pool loan first then knock down the business mortgage. When you are debt free this will allow you to take bigger risks with potentially greater return.
by Wricha
Fri Jul 21, 2023 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: Am I over-extending myself?
Replies: 42
Views: 3163

Re: Am I over-extending myself?

How did you get the 180k for down payment from a windfall or saved over many years?
by Wricha
Fri Jul 07, 2023 5:58 am
Forum: Personal Finance (Not Investing)
Topic: IRS Now Requiring ID.me again?
Replies: 100
Views: 15757

Re: IRS Now Requiring ID.me again?

I just finished ID.ME for IRS it was a ridiculous process. Had to upload many documents selfie and video call. Seems like if your information is not uploading (or the corners of documents are not shown) they ask for more and more documents. I had to provide bank statements with complete SS number, military discharge papers, utility bills in was insane, 2 hours. Just to see if they sent my refund check. Finding documents with complete SS number is not easy as most documents just show last 4 numbers.
by Wricha
Fri Jun 30, 2023 11:13 pm
Forum: Personal Finance (Not Investing)
Topic: Buying land with family members
Replies: 48
Views: 7252

Re: Buying land with family members

I am not saying you’re wrong about the cost per acre being higher for a smaller parcel. It’s clear you feel you are entitled to a discount per acre this is precisely the reason you should not partner with family members on this venture or anyone else. You are buying land plus getting a very big problem for free. I would probably pass on this parcel find another (don’t even tell family until you buy it).
by Wricha
Thu Jun 01, 2023 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: How much money to keep at home
Replies: 120
Views: 9602

Re: How much money to keep at home

I am not someone who has a survival shelter But I live on an island that got hit by a hurricane last fall. The island was cut off from the mainland for a month and no electricity or water for months . . . . Exactly. $40/y foregone interest per year is a small price to pay for having $1,000 on hand to pay for gas and groceries when a hurricane/earthquake/terrorist event/hacking knocks out all electronic payment in your area. We lived for 3 decades in a somewhat isolated locale where every now and then a farmer's backhoe knocked out the area's one fiber connection; we learned the hard way the value of cash. If you live in an isolated area or isolated by an event cash is king very quickly. What people are overlooking is when a big event happe...