Search found 1441 matches

by scone
Tue Jun 18, 2019 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 1134
Views: 139169

Re: Why are you NOT buying rental properties?

My own home is about 15% of my net worth. If I added more real estate, I would be overly concentrated in one sector. At any rate, investing in stocks and bonds is the easiest money I have ever made, much easier than working. :D
by scone
Tue Jun 18, 2019 3:38 pm
Forum: Personal Consumer Issues
Topic: Life after COBRA - selecting new health insurance
Replies: 37
Views: 4886

Re: Life after COBRA - selecting new health insurance

What a coincidence. I just finished my ACA application with Anthem, as my COBRA insurance, also with Anthem, was due to end on 6/30/19. Mine will be $1201 and change per month. IIRC the deductible is just under 6k. The plans quoted started in the $800 range. I was able to sign up outside the open enrollment period because COBRA ending is a "qualifying event" and required proof in the form of a letter from Megacorp. I photographed the letter on my iPad and uploaded it to the Anthem software, along with the card payment.
by scone
Thu Jan 17, 2019 8:30 am
Forum: Investing - Theory, News & General
Topic: John Bogle has died at age 89
Replies: 856
Views: 81249

Re: John Bogle has died at age 89

All my respect and gratitude to the greatest titan in finance, Saint Jack.
by scone
Mon Nov 19, 2018 10:08 am
Forum: Personal Investments
Topic: Please help review my Asset Allocation
Replies: 2
Views: 503

Re: Please help review my Asset Allocation

You’re already miles ahead of the average investor, there isn’t much to quibble with. Maybe reduce the number of funds as you go forward, especially the more expensive funds. This is especially true on the bond side, as you don’t need the income right now, but you do want bonds for dampening volatility as you accumulate. Half a dozen funds overall should be more than enough, adding more doesn’t get you a whole lot more diversification.
by scone
Mon Nov 19, 2018 9:58 am
Forum: Personal Consumer Issues
Topic: which snow blower ?
Replies: 169
Views: 18646

Re: which snow blower ?

Another Arien recommendation. Mine has the electric start, which is great as I’m a senior woman and not as strong as I used to be.
by scone
Sat Nov 17, 2018 9:57 am
Forum: Personal Consumer Issues
Topic: vacation in Maine, New Hampshire
Replies: 9
Views: 1395

Re: vacation in Maine, New Hampshire

I like Manchester airport, it’s much easier than Logan, much less traffic. BTW, cellular service can be iffy back up in the hills, so I always carry paper maps as a backup. Along with all the stuff you need if there is a power outage, obviously.
by scone
Thu Aug 02, 2018 6:43 am
Forum: Personal Consumer Issues
Topic: Worth it to get 300 Mbps internet?
Replies: 61
Views: 61070

Re: Worth it to get 300 Mbps internet?

My rural subdivision is 30 years old, so the cable is old and there are no plans to upgrade. I finally killed my Comcast account, and got an unlimited cellular data plan from Verizon. I’m using it right now.

The performance is pretty much the same, with bottlenecks at about the same times every day, so I assume cable was halfway to useless. My conclusion is, it’s not just your plan, it’s the total infrastructure and equipment you have available to work with.
by scone
Thu Aug 02, 2018 6:27 am
Forum: Personal Consumer Issues
Topic: Talk to me about Le Creuset
Replies: 53
Views: 8833

Re: Talk to me about Le Creuset

I like this brand because I can turn the heat off before cooking is finished, and the residual heat in the cookware completes the job. This saves a little money, and it’s nice in summer as the kitchen doesn’t get as hot.
by scone
Thu Aug 02, 2018 6:21 am
Forum: Investing - Theory, News & General
Topic: SWR 2.5% --how much equity required?
Replies: 9
Views: 1781

Re: SWR 2.5% --how much equity required?

In addition to the stock portion, be mindful of the interest you’re getting on your bonds, given the low rates we are dealing with now. My withdrawal is a little less than 2%, with 30% stock, and I could cut that a bit if I had to— there’s a cushion. If you want to be extra cautious, “oversaving” up front isn’t a bad strategy.
by scone
Thu Aug 02, 2018 6:06 am
Forum: Investing - Theory, News & General
Topic: Fidelity Files for Four Fidelity ZERO℠ Funds (0.00% ER)
Replies: 814
Views: 112337

Re: Fidelity Files for two Fidelity ZERO℠ Funds (0.00% ER total stock and total international mutual funds)

Very cool. As a Fido customer, all I have to do is stand there and save money. And given the fierce competition out there, we should all benefit. Just for giggles, I’d like to figure out how much money I’m saving, but I’m not sure how to do that.
by scone
Thu May 24, 2018 8:31 am
Forum: Personal Finance (Not Investing)
Topic: I've never budgeted sucessfully
Replies: 59
Views: 7465

Re: I've never budgeted sucessfully

I don't budget and never have. My husband and I saved money up front, "paying ourselves first," and lived on the rest. Over time, we increased the percentage of money going into savings, and kept spending modest. It's been easy to save that way, since there's not much work involved, and little "lifestyle creep." That's what really derails people, IMO-- spending more simply because you've got the cash, expecting that spending will "make you happy." Money is simply a tool for getting things done, it's not a magic happiness potion.
by scone
Wed May 02, 2018 9:15 am
Forum: Personal Consumer Issues
Topic: Have you quit eating sugar? Tell me how!
Replies: 129
Views: 17698

Re: Have you quit eating sugar? Tell me how!

This is maybe not what you want to hear, but the only thing that has ever worked for me is the ketogenic diet. It controls my blood sugar and insulin swings very well, which means no cravings at all. I keep my protein under control, due to an issue with gluconeogenesis (google), and keep my net carbs around 20. This amounts to a diet of low carb vegetables, small amounts of protein including nuts, and "good fats" like avocado and olive oil. I don't eat a lot of fruit in one day, maybe a small handful of berries and some lemon in my tea. I don't use artificial sweeteners at all, since even these will give me insulin swings. For that matter, even coffee raises my insulin! YMMV. It's not a particularly expensive diet, since I don't e...
by scone
Sat Apr 28, 2018 6:54 am
Forum: Personal Investments
Topic: Newly widowed and waay out of my league
Replies: 41
Views: 7923

Re: Newly widowed and waay out of my league

I am sorry for your loss. As a recent widow myself, I can relate some of my experience, FWIW. First off, unless you are desperate for cash, don't do anything that's not necessary until the "mush for brains" shock has worn off. For me, that took months, and I'm not completely over it after more than a year. There is a lot of paperwork-- just putting all the bills and retirement accounts in my name took months, and various important letters, including a final bonus check, arrived months after my husband died. I left my husband's name on the checking account so I could deposit checks. Don't underestimate the time and energy it takes to make those long phone calls, and mail out the "death kits" with the certificate, which fo...
by scone
Tue Apr 17, 2018 8:20 am
Forum: Investing - Theory, News & General
Topic: Cash instead of bonds?
Replies: 59
Views: 15499

Re: Cash instead of bonds?

Make sure you look at the ER in money market funds, some are surprisingly expensive. Personally I would only use a Treasury money market fund, or a bank CD, for short term "safe money."
by scone
Tue Apr 17, 2018 7:54 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Don’t Exclude Emerging Markets
Replies: 30
Views: 6024

Re: Larry Swedroe: Don’t Exclude Emerging Markets

I believe I have read in the past that International Small Value May be an even better diversifier than EM because ISV is more dependent on each local economy. Agreed but how can you buy it? Morningstar Premium fund Screener criteria: (Fund Category = Foreign Small/Mid Value) and (Morningstar Rating >= Three Stars) (Dog killer criteria) and (Minimum Initial Purchase <= 50000) (Eliminate stuff I can't buy) and (No-Load Funds = Yes) (I will not pay an upfront fee) This screen yields 12 funds but only 4 have an e/r less than 1% and 3 of those 4 are DFA funds which I understand is only available through an advisor. (The other 1 of the 4 has an e/r of 0.95 and is not very small or valuey. It also has very, very limited broker availability.) The...
by scone
Tue Apr 17, 2018 5:27 am
Forum: Personal Finance (Not Investing)
Topic: 2.5% Withdrawal for 50 Years With 50/50 Portfolio?
Replies: 121
Views: 17163

Re: 2.5% Withdrawal for 50 Years With 50/50 Portfolio?

Yes, I'd be fine with this withdrawal rate. It's not far from what I am doing. You do need to think about inflation and real returns over the very long run, however.
by scone
Wed Apr 11, 2018 1:11 pm
Forum: Investing - Theory, News & General
Topic: What is your AA, given your age? and, Why?
Replies: 284
Views: 43265

Re: What is your AA, given your age? and, Why?

30% stock, 55% intermediate Treasury bonds, 15% cash. Stock allocation divided evenly: large, small, domestic, international. Age 61, retired, about 46x income at current burn rate. Home paid off, no debt, taking widow's SS benefit.

For me, about 20% - 30% stock is the least stressful allocation (even less stress than all bonds), and that's what I want right now. The cash really helps with the 'sleep at night' aspect of staying the course, I find.
by scone
Wed Apr 11, 2018 12:49 pm
Forum: Personal Consumer Issues
Topic: [What UN-frugal thing do you do? What do you splurge on?]
Replies: 785
Views: 82833

Re: Name something you bought that wasn't cheap and glad you did

Pilot 743 Falcon fountain pen. Amazing for drawing and writing.
by scone
Tue Apr 10, 2018 6:59 am
Forum: Investing - Theory, News & General
Topic: Why not annuitize most of portfolio?
Replies: 104
Views: 13218

Re: Why not annuitize most of portfolio?

You could create your own "homemade" annuity with the liability matching portfolio using TIPS, which eliminates the risk of the insurance company going bankrupt. Lots of threads on that.
by scone
Mon Apr 09, 2018 12:32 pm
Forum: Personal Consumer Issues
Topic: Regrets of the frugal and dying?
Replies: 62
Views: 12850

Re: Regrets of the frugal and dying?

Almost all my family has passed, and some of my husband's family, and I've been close to the edge myself. My observation is that most people close to death are too ill to regret anything, they are often in and out of consciousness, in a fever, or drugged. Some people die quickly, say of a heart attack, and there's little time to think. So there's often no time for regrets, and no energy if there is time. The living might regret various things "for" those about to die, so to speak-- e.g., the son who regrets the parents' smoking, or the sister who regrets her siblings did not get to the deathbed in time, etc. In my experience, most regrets are about bad behaviors, especially treating people badly or poor health habits. I've never k...
by scone
Fri Apr 06, 2018 6:26 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 36221
Views: 4651345

Re: U.S. stocks in freefall

Earlier in thread people were commenting how this was a "rabbit" market. I'm wondering if there are high volume short term traders/quants profiting hugely from these ups and downs. (And if they're profiting based on the multiple bunny hops, are we in the buy/hold camp somehow on the unhappy side of that? Like maybe we're the lawn/ ground being trampled) :? If the stock market is a zero sum game, at least from a short term POV, then some traders are making a profit, and others are on the losing side of the trade. The long term people are staying cool, and picking up the compounded dividends and interest. You get a reward simply for being disciplined. Finance people call this "behavioral alpha." It's a lot like sticking t...
by scone
Thu Apr 05, 2018 9:58 am
Forum: Investing - Theory, News & General
Topic: Bill Bernstein, new podcast
Replies: 56
Views: 10112

Bill Bernstein, new podcast

Hi folks, hope this has not been posted already, it's a new podcast with transcript, and mentions other podcasts:

https://www.newretirement.com/retiremen ... etirement/
by scone
Wed Apr 04, 2018 4:31 pm
Forum: Investing - Theory, News & General
Topic: 30 yr tips auction 2/15: 1.0% yield?
Replies: 174
Views: 25580

Re: 30 yr tips auction 2/15: 1.0% yield?

Sounds like that line “the only perfect hedge is in a Japanese garden.” I wonder, did the Treasury folks foresee the use of TIPS to build a LMP, or did they think of it simply as a tool to get an idea of inflation expectations? Are TIPS doing something they were not designed to do? (Which doesn’t imply they can’t do the job, BTW.)
by scone
Wed Apr 04, 2018 4:23 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 36221
Views: 4651345

Re: U.S. stocks in freefall

We had a fairly vigorous bunny market in 2015-2016, and somehow managed to survive. 8-)
by scone
Wed Apr 04, 2018 9:54 am
Forum: Investing - Theory, News & General
Topic: 30 yr tips auction 2/15: 1.0% yield?
Replies: 174
Views: 25580

Re: 30 yr tips auction 2/15: 1.0% yield?

grok87 wrote: Tue Apr 03, 2018 3:04 pm
scone wrote: Tue Apr 03, 2018 1:54 pm Forgive me if this is a stupid question, or if it’s a non-stupid question that’s been answered. But what happens to the LMP if the Treasury stops issuing TIPS? What’s the backup plan?
All the more reason to buy them now!
:)

But in all seriousness I would recommend building your ladder evenly over the course of your working career.
Cheers,
Grok
Well, I'm retired myself, so a little late on that one. But just to be clear, if the Treasury discontinued TIPS, how would one complete the LMP? What's the alternative? Is there an alternative? (ETA: Accepting that there may not be a perfect solution.)
by scone
Tue Apr 03, 2018 2:03 pm
Forum: Personal Consumer Issues
Topic: Replacing a deck
Replies: 14
Views: 3143

Re: Replacing a deck

I wouldn’t feel good about using the deck unless I knew it was safe. I’d get it fixed, or tear it out and put in a patio.
by scone
Tue Apr 03, 2018 1:54 pm
Forum: Investing - Theory, News & General
Topic: 30 yr tips auction 2/15: 1.0% yield?
Replies: 174
Views: 25580

Re: 30 yr tips auction 2/15: 1.0% yield?

Forgive me if this is a stupid question, or if it’s a non-stupid question that’s been answered. But what happens to the LMP if the Treasury stops issuing TIPS? What’s the backup plan?
by scone
Tue Apr 03, 2018 1:28 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Alternative Approach To Alts
Replies: 46
Views: 7658

Re: Larry Swedroe: Alternative Approach To Alts

How would the tax efficient fund be reported at tax time? Does TurboTax know how to handle it?
by scone
Fri Mar 30, 2018 8:20 am
Forum: Personal Investments
Topic: Treasury Floating Rate Note-Has its Time Arrived?
Replies: 50
Views: 8830

Re: Treasury Floating Rate Note-Has its Time Arrived?

I've got a fairly large sum to invest in taxable, and because my state taxes dividends and interest, I'm looking at some form of short term Treasuries. I'm comparing floating rate ETFs to something like FSBAX, which has a longer duration. I'll be living on this money for the next ten years, and I really, really hate trading, dealing with CDs, buying and selling individual bonds, or doing complicated tax returns. I'm not a hobbyist in that sense. Also, my health is not great, and my lawyer, who has power of attorney if I am incapacitated, is not a deep guru of the markets. So if he had to take over my finances, a complicated system (from his POV) would make things more problematical. He would likely hire an "expert" portfolio manag...
by scone
Fri Mar 30, 2018 7:16 am
Forum: Investing - Theory, News & General
Topic: Is backtesting worthless? Are there ANY insights you can get from it?
Replies: 69
Views: 8079

Re: Is backtesting worthless? Are there ANY insights you can get from it?

I feel I've learned a great deal from backtesting, especially comparing the various asset types. Not just the obvious lessons that bonds and stocks behave very differently, but something about how these assets behave in combination with each other. Years ago, I read some of Bill Bernstein's work, where he showed that you can combine two volatile assets and get a less volatile result, which seemed so unlikely to me, I could hardly believe it. But backtesting proved that he is right. Second, backtesting has taught me that similar allocations are so similar, there's no need to try for a "perfect" portfolio-- there is none, and the "imperfect" portfolios we have are good enough and fit for purpose. Tiny tweaks are often a wa...
by scone
Thu Mar 29, 2018 3:19 pm
Forum: Personal Investments
Topic: Treasury Floating Rate Note-Has its Time Arrived?
Replies: 50
Views: 8830

Re: Treasury Floating Rate Note-Has its Time Arrived?

There’s TFLO, but it’s not that big.
by scone
Thu Mar 29, 2018 1:07 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 36221
Views: 4651345

Re: U.S. stocks in freefall

I could be wrong, but I think the bond market closes early today. But I don’t get why everything seems to be up— maybe the dollar?
by scone
Thu Mar 29, 2018 1:00 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 36221
Views: 4651345

Re: U.S. stocks in freefall

It’s Maundy Thursday... one minute to close, thundering herds of bonds coming into the home stretch... Everything is up? What?
by scone
Wed Mar 28, 2018 2:29 pm
Forum: Personal Investments
Topic: Seeking advice on implementing Paul Merriman's ultimate-buy-and-hold strategy
Replies: 16
Views: 4516

Re: Seeking advice on implementing Paul Merriman's ultimate-buy-and-hold strategy

The four fund portfolio is likely good enough, particularly if your wife has no interest in managing it should you die or be incapacitated. It might also “survive” better if either of you have job switches and roll over into a new plan. This is also true if one of you dies. I’m an example. Last year my husband died and I inherited his 401k. I had to roll all the money over into a retail IRA. But some of the funds were institutional class, or collective investment trusts, which are not available to me in the IRA. So the affected funds were sold, and I had to buy the comparable funds all over again. If all the funds had been plain vanilla, I might not have had to reallocate as much, at higher prices.
by scone
Wed Mar 28, 2018 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: How Do You Value Your Home for Net Worth Purposes?
Replies: 150
Views: 16110

Re: How Do You Value Your Home for Net Worth Purposes?

I look at the sold comparables on my local MLS, using the two towns in my school district, going back only about six months. The MLS software lets me select for house size, lot size, number of bedrooms, baths, garage bays, etc. This usually cuts the number of houses down to a handful, and gives me a range of prices. I pay no attention to asking prices, Zillow estimates, etc.

I don’t look at these values very often, basically to keep my insurance updated. Knowing my net worth is mostly an ego thing, although it is comforting to have “enough.”
by scone
Wed Mar 28, 2018 12:37 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 36221
Views: 4651345

Re: U.S. stocks in freefall

O.K. folks, that's the last of my cash allocated (rolled over a 401k into an IRA). It's FUSVX, so I won't know the price until the close. Such a thrill ride. :beer
by scone
Wed Mar 28, 2018 12:16 pm
Forum: Investing - Theory, News & General
Topic: Are we missing recession /bear market beginning
Replies: 174
Views: 23327

Re: Are we missing recession /bear market beginning

Last year we had very low volatility, this year, we have more. That's just the way it goes, although you can certainly find plenty of plausible sounding narratives that purport to explain it. But as the man said, "nobody knows nuthin'." In any case, to paraphrase upthread, volatility <> bear market <> recession.
by scone
Wed Mar 28, 2018 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Retirees: How does your retirement spending compare to pre-retirement spending?
Replies: 48
Views: 9395

Re: Retirees: How does your retirement spending compare to pre-retirement spending?

I spend about the same as I did pre-retirement, but the categories have changed a lot, and some of that I did not predict beforehand. When I was your age I has an idea how life would go, but the reality is completely unlike the plan. We like to think we have control over our destiny, but there's a lot of randomness in outcomes.
by scone
Tue Mar 27, 2018 4:41 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 36221
Views: 4651345

Re: U.S. stocks in freefall

Sometimes it's a rollercoaster of love, cue the Peppers. Here's a good take on the recent weirdness from a market stats guy who knows a thing or two: http://theirrelevantinvestor.com/2018/0 ... his-sucks/
by scone
Mon Mar 26, 2018 1:35 pm
Forum: Personal Investments
Topic: How to invest extra 50K when invested in an already diversified portfolio
Replies: 29
Views: 4568

Re: How to invest extra 50K when invested in an already diversified portfolio

Possibilities that haven't been mentioned: domestic and international REIT funds, or TIPS funds. There are commodity funds and alternative funds, but that's a little more controversial at Bogleheads. I would definitely stuff money into a ROTH, and I'd get out of individual stocks, myself.
by scone
Mon Mar 26, 2018 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking about capitulating on house
Replies: 34
Views: 5664

Re: Thinking about capitulating on house

How about getting a roommate or two? The additional social contact might be fun in itself, and you'll recover some costs.
by scone
Mon Mar 26, 2018 1:15 pm
Forum: Personal Investments
Topic: Should I rebalance Fidelity Portfolio?
Replies: 10
Views: 1716

Re: Should I rebalance Fidelity Portfolio?

IIWY I would rebalance out of the active funds into the passive funds, simply to save the money. Given the amount you have, that could be in the thousands. Also, you are likely duplicating a lot of exposure with this group of funds-- you might not be getting any extra diversification by owning them. So there isn't much point, IMO.

You can analyze the effect of rebalancing into the cheaper funds using the Morningstar Instant X-Ray tool. You plug in the funds and the amounts, and it gives you all sorts of useful info. Importantly, it gives you an estimate of how much you are paying to own these funds each year, which I'm betting will be an eye opener. :happy
by scone
Mon Mar 26, 2018 12:54 pm
Forum: Personal Consumer Issues
Topic: Any hand written letter services out there that write and mail on your behalf?
Replies: 32
Views: 4941

Re: Any hand written letter services out there that write and mail on your behalf?

I am finding in this day and age that a personal hand written letter goes much further than emails...especially when corresponding with banks, hospitals, warranty claims, shopping quotes, etc. I think twice about giving out personal and confidential information to a third party; I try to keep that to a minimum. At any rate, dealing with a service is likely more time consuming than writing a note yourself, especially if you have a postage machine or "forever" stamps. You can improve the look of your notes with good stationery and a decent pen. I like a stub or italic nib, which makes my handwriting look better than it really is. Then again, writing your own letters is a form of self-improvement-- it tunes your thinking and your so...
by scone
Thu Mar 22, 2018 5:13 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 36221
Views: 4651345

Re: U.S. stocks in freefall

I only thought about buying today and see what happens. :oops:
by scone
Fri Mar 09, 2018 7:48 am
Forum: Personal Finance (Not Investing)
Topic: How can I provide rental references as a longtime homeowner?
Replies: 17
Views: 2365

Re: How can I provide rental references as a longtime homeowner?

I have had this problem big time, but then again the rental market where I live is very tight. Some landlords, especially in corporate owned complexes, have an explicit policy of requiring jobs for all tenants, and the rental agent has no power to deviate from that. Other landlords are concerned that the "source of income" might be illegal activity, e.g. drug dealers, so they just use a "job rule" to screen people out. Things got even worse when I suggested I would pay rent in advance, thinking that would sweeten the pot. I had one landlord hang up on me when I tried that. I guess it's hard to imagine that some people legitimately have a good amount of cash savings, great credit, etc. In the event, I had to make more tha...
by scone
Fri Mar 09, 2018 7:32 am
Forum: Personal Investments
Topic: Lazy Portfolio Examples (old Kiplinger articles)
Replies: 7
Views: 2058

Re: Lazy Portfolio Examples (old Kiplinger articles)

Here are some more lazy portfolios, collected by one of the Boglehead friends:

https://obliviousinvestor.com/8-lazy-etf-portfolios/
by scone
Fri Mar 09, 2018 7:26 am
Forum: Personal Investments
Topic: Ok fellow bogleheads, was the correction scary or nothing?
Replies: 147
Views: 15960

Re: Ok fellow bogleheads, was the correction scary or nothing?

Seeing some volatility in the market made me feel like things were getting back to normal. Last year's extreme quiet was kind of weird.
by scone
Fri Mar 09, 2018 7:03 am
Forum: Personal Consumer Issues
Topic: Is this too much for a kitchen?
Replies: 69
Views: 10715

Re: Is this too much for a kitchen?

You basically have two projects here: (1) structural changes to the house, and (2) change out of all kitchen components. It's not just a basic kitchen re-do, and that's why the price is higher. You've got a new "header" which might be an engineered beam, some brickwork, and new plumbing, including a new stack, which is fairly expensive. You may also need to upgrade the electrical system. The licensed tradespeople, such as plumbers and electricians, are more expensive, so the more you use their services, the more expensive the project can be. The contractor may also be putting in a fudge factor, since you never know what you may find when you open up a wall, and it's best to budget for bad scenarios (like dry rot) right up front. T...