Search found 567 matches

by gips
Wed Nov 13, 2019 2:51 pm
Forum: Personal Investments
Topic: SIL retirement puzzle
Replies: 42
Views: 2609

Re: SIL retirement puzzle

My MIL drilled into their heads that “renting is like throwing away money”. Over the years I’ve shared various online rent vs purchase calculators, they won’t even consider it. Not worth trying (but I have already mentioned it :happy ) she won’t be a able to obtain a mortgage, this will be an all ca...
by gips
Wed Nov 13, 2019 2:04 pm
Forum: Personal Investments
Topic: SIL retirement puzzle
Replies: 42
Views: 2609

Re: SIL retirement puzzle

Thanks, a roommate is a great idea but I don’t think she can live w someone and I don’t think anyone can live w her. I’ve raised the suggestion to my wife and her son to let them run with it.
by gips
Wed Nov 13, 2019 1:25 pm
Forum: Personal Investments
Topic: SIL retirement puzzle
Replies: 42
Views: 2609

Re: SIL retirement puzzle

here's more info: - I've asked her son to provide an xls download from her bank account so we can understand current spending. - I believe she can cut at least $500/month from the conservative budget we put together. that would provide an extra $6k per year. It's been good to get feedback that the c...
by gips
Wed Nov 13, 2019 9:53 am
Forum: Personal Investments
Topic: SIL retirement puzzle
Replies: 42
Views: 2609

Re: SIL retirement puzzle

Don't forget the elephant in the room of ACA until medicare for the next 12-24 months. Even with heavily subsidized premiums an out of pocket max in and/or out of network will crush the budget. Not sure how healthcare works with someone who has been ruled disabled though. her employer has allowed h...
by gips
Wed Nov 13, 2019 9:34 am
Forum: Personal Investments
Topic: SIL retirement puzzle
Replies: 42
Views: 2609

Re: SIL retirement puzzle

:happy I'm not suggesting a reverse mortgage on a newly purchased condo. Instead, I'm pointing out that the $ spent for the condo have been converted to equity which can be tapped. If a reverse mortgage is a bad idea, then my BIL and my wife can have my SIL write a note against the condo equity. any...
by gips
Wed Nov 13, 2019 8:32 am
Forum: Personal Investments
Topic: SIL retirement puzzle
Replies: 42
Views: 2609

Re: SIL retirement puzzle

Thanks everyone for their help: - the $4k expenses represents her projected budget not her current expenses. It is conservative and as such, may be subject to reduction. It does accurately reflect hoa, taxes and utilities for a condo she’d like to purchase. - her nephew’s aunt passed away and she h...
by gips
Wed Nov 13, 2019 8:24 am
Forum: Personal Investments
Topic: SIL retirement puzzle
Replies: 42
Views: 2609

Re: SIL retirement puzzle

Thanks, why does she need an annuity rather than a 4 per cent withdrawal rate and a 60-40 (or 40-60) portfolio.

I’d she purchases a place, the liquid funds become equity...they are not lost. So perhaps we or my BIL have her write a note against the equity. Or a reverse mortgage.
by gips
Wed Nov 13, 2019 7:56 am
Forum: Personal Investments
Topic: SIL retirement puzzle
Replies: 42
Views: 2609

Re: SIL retirement puzzle

Thanks everyone for their help: - the $4k expenses represents her projected budget not her current expenses. It is conservative and as such, may be subject to reduction. It does accurately reflect hoa, taxes and utilities for a condo she’d like to purchase. - her nephew’s aunt passed away and she ha...
by gips
Wed Nov 13, 2019 3:27 am
Forum: Personal Investments
Topic: SIL retirement puzzle
Replies: 42
Views: 2609

Re: SIL retirement puzzle

The living expenses of $4,000 a month seem quite high if she is Single and living with relatives for free. Does she have a budget? Can she get her expenses down to $3,000 a month? Thanks for your reply but it really doesn’t have anything to do with the my question. She has to move out of her curren...
by gips
Wed Nov 13, 2019 2:52 am
Forum: Personal Investments
Topic: SIL retirement puzzle
Replies: 42
Views: 2609

Re: SIL retirement puzzle

Thanks for the replies. The current income is from ssdi shouldn’t it work like this on a $400k portfolio: 4% withdrawal: $16k ssdi + pension: $42k Total income: $58k Total expenses: $48k Let’s say she spends $200k on home: 4% withdrawal: $8k ssdi + pension: $42k Total income: $50k Total expenses: $48k
by gips
Wed Nov 13, 2019 12:44 am
Forum: Personal Investments
Topic: SIL retirement puzzle
Replies: 42
Views: 2609

SIL retirement puzzle

My SIL has declared herself retired. Here are the salient facts: Age: 63 Current Income: $2,400/month from ssdi Pension at 65: $1,100/ month Savings: $413k in high yield savings accounts Expenses: $4k/month Debt: none Home: none (lives with family) Car: none Questions: 1. How much can she afford to ...
by gips
Mon Nov 11, 2019 11:55 am
Forum: Personal Investments
Topic: Windfall
Replies: 21
Views: 2102

Re: Windfall

It's really hard to make a suggestion without a complete picture of your finances. Does the money allow you or your spouse to retire a year earlier? I'd suggest using a mortgage calculator to see how a prepayment affects your payment. How much faster will you pay down your mortgage if you don't chan...
by gips
Tue Oct 29, 2019 7:41 am
Forum: Personal Consumer Issues
Topic: New Computer with or without SSD?
Replies: 78
Views: 4299

Re: New Computer with or without SSD?

Windows 10 works well and the upgrade from Windows 7 remains free. Why anyone thinks it’s a good idea to keep running decade-old software that no longer receives updates is beyond me. Because I have programs that won't work on anything newer than W7. set the comparability mode of the program to win...
by gips
Tue Oct 29, 2019 7:38 am
Forum: Personal Consumer Issues
Topic: New Computer with or without SSD?
Replies: 78
Views: 4299

Re: New Computer with or without SSD?

Are you sure you need a desktop? My whole family uses laptops, we haven’t needed a desktop in 10 years. I know the answer has overwhelmingly been to use an ssd, I made the conscious choice not to spend the extra money. My usage pattern is 99% web browser based and I keep all my personal files in the...
by gips
Mon Oct 28, 2019 10:38 pm
Forum: Personal Investments
Topic: How to handle 5M capital gain (post-IPO)
Replies: 118
Views: 11445

Re: How to handle 5M capital gain (post-IPO)

I had a bigger cap gain in ny. Our corporate taxes were done by a top 3 accounting firm and we (the founders) decided to have the firm also work on our personal income taxes to ensure consistency. Their tax advice: unless willing to move, just take the gain, pay the tax and diversify. after a lot of...
by gips
Sun Oct 27, 2019 10:47 am
Forum: Personal Investments
Topic: New high income earner
Replies: 39
Views: 4686

Re: New high income earner

I had a huge jump in income at one point in my career, it gave me a clear path to financial independence but remained concerned that my new income level might be unsustainable. I had a similar fear, wanted to retire and never wanted to head back to work in case of a new financial crisis. Here's what...
by gips
Sun Oct 27, 2019 9:59 am
Forum: Personal Consumer Issues
Topic: Adventures in iPhoning [should I upgrade now?]
Replies: 14
Views: 1005

Re: Adventures in iPhoning [should I upgrade now?]

I have a 6s plus that is constantly hitting storage limits (16gb model). I may go pixel 3a for $400, can get around $100 in a trade in so $300 net. In any case, I'm not doing anything until black friday rolls around.
by gips
Tue Oct 22, 2019 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: should my son negotiate paralegal offer?
Replies: 28
Views: 2289

Re: should my son negotiate paralegal offer?

I will chime in here as I have first hand experience with this. I was also a liberal arts grad from a top school, and I received an offer right out of school in the legal team of a top financial services company in midtown Manhattan. They paid $70k. This was 10 years ago. If your son is not despera...
by gips
Tue Oct 22, 2019 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: should my son negotiate paralegal offer?
Replies: 28
Views: 2289

Re: should my son negotiate paralegal offer?

thanks for all the advice, we're speaking to him tonight and will recommend he take the position at the salary offered. Hedgefundie, while he did attend a top 20 lac, it was not an elite school..I don't recall your alma mater, but I recall it could be described as one of the elites. also, he's not i...
by gips
Tue Oct 22, 2019 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: should my son negotiate paralegal offer?
Replies: 28
Views: 2289

should my son negotiate paralegal offer?

Hi, My son graduated from a top liberal arts college with a degree in history last may. He's interested in law school but wants to work as a paralegal to get a sense of what a career in law might look like. He's interviewed quite a bit and, to pay bills, has been working in a surgeon's office in nyc...
by gips
Sat Oct 05, 2019 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: medicaid and asset management for alzheimer's
Replies: 7
Views: 596

Re: medicaid and asset management for alzheimer's

thanks for the thoughtful replies, she lives in NY state.
by gips
Sat Oct 05, 2019 11:51 am
Forum: Personal Finance (Not Investing)
Topic: medicaid and asset management for alzheimer's
Replies: 7
Views: 596

medicaid and asset management for alzheimer's

a friend was just diagnosed with Alzheimer's, she and her husband have some assets, they've also saved around $200k for their son's education who is now a senior in hs. The husband is not financially savvy, the wife who has Alzheimer's less so and unfortunately, the disease has progressed to the poi...
by gips
Mon Sep 23, 2019 10:45 pm
Forum: Personal Consumer Issues
Topic: Elite liberal art colleges or bigger selective universities?
Replies: 59
Views: 4515

Re: Elite liberal art colleges or bigger selective universities?

I wanted my d to attend middlebury for premed, she wanted a bigger school and chose an Ivy. I wanted my son to attend haverford or Hamilton, he chose a big school. At this point it’s clear my son got it right, not entirely sure about my d. In the end, it came down to visiting the schools and letting...
by gips
Fri Sep 06, 2019 11:52 am
Forum: Personal Investments
Topic: Sold my Business (2.2 Million)! Where to store proceeds while I think?
Replies: 81
Views: 9589

Re: Sold my Business (2.2 Million)! Where to store proceeds while I think?

when we sold our consulting business, decided to park all the money in fdic insured cds which, at the time, paid quite a bit more than short-term treasury funds. This is a great resource: https://www.depositaccounts.com/ you know, I've read all your other replies and while I completely agree with th...
by gips
Thu Aug 22, 2019 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 339
Views: 19405

Re: Selective Colleges

My father was a latin scholar in hs. His parents paid for college on the condition that he choose btw law, medicine and accounting. He chose accounting, started his own very lucrative practice and hated every moment of it. But with three kids and a stay-at-home wife, didn't feel like he could make a...
by gips
Wed Aug 21, 2019 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 339
Views: 19405

Re: Merits of a Selective School

That is, two kids from that background with all the same measured characteristics (including parents' education and wealth) who apply to the same schools, but one of whom attends a less selective one (for whatever reason), do about the same. this finding resonates with me, admitted to an ivy, atten...
by gips
Wed Aug 21, 2019 11:29 am
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 339
Views: 19405

Re: Selective Colleges

unhooked admission to a top lac is a crazy stretch. when my D was applying to colleges, two years ago, she was interested in middlebury and williams. The analysis of the admitted class looked like this: - 30% athletic recruits - 10% legacies - 25-30 % URM - 10% international - 10-15% first-generatio...
by gips
Wed Aug 21, 2019 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 339
Views: 19405

Re: Selective Colleges

we've have three kids, our oldest, given his profile, should have been accepted to a top 15 university instead of a top 30. This gave rise to deep quantitative and qualitative analysis resulting in our middle child being accepted his first choice, a top LAC, with stats that really didn't play. In fa...
by gips
Wed Aug 21, 2019 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 339
Views: 19405

Re: Selective Colleges

I went looking for this because I thought I remembered that Brown used to be one of the few highly selectives that showed admit rate by ACT/SAT score (maybe the only one). But I can't find that data now - maybe Brown used to have it and no longer does, or I remembered the wrong school, or whatever....
by gips
Fri Aug 09, 2019 2:03 pm
Forum: Personal Consumer Issues
Topic: wifi router, too many options!
Replies: 41
Views: 2924

Re: wifi router, too many options!

decided on the amplifi hd base router for around $130 from amazon. Hoping it covers the whole house, looks like the range is 5k and I like that it can be expanded if necessary.

thanks all for your help!
by gips
Fri Aug 09, 2019 10:40 am
Forum: Personal Consumer Issues
Topic: wifi router, too many options!
Replies: 41
Views: 2924

Re: wifi router, too many options!

thanks for all the advice! Some thoughts: - If a single asus router in a cabinet in my basement can cover my whole home, why would I invest the extra $ in mesh? This is after all bogleheads and I'm just not understanding the value of spending an extra $200. - I'm a software engineer by trade but in ...
by gips
Thu Aug 08, 2019 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate Negotiation Came to a Halt
Replies: 67
Views: 5440

Re: Real Estate Negotiation Came to a Halt

no one who had a recent offer for $950k is going to drop $100k unless they're under severe financial pressure. I've negotiated 100s of contracts, here's my suggestion: - tell them your goal is a fair price for both sides - Show them the comps supporting your price. - ask them for comps supporting th...
by gips
Wed Aug 07, 2019 5:58 pm
Forum: Personal Consumer Issues
Topic: wifi router, too many options!
Replies: 41
Views: 2924

Re: wifi router, too many options!

The point of mesh is to give good coverage and reliability, not necessarily the fastest possible speed. Google Wifi works well, but it lacks some control (e.g., you cannot setup separate SSIDs for 2.4 and 5 GHz bands; Eero has the same limitation). We currently have Uniti's Unifi system, but it's p...
by gips
Wed Aug 07, 2019 2:53 pm
Forum: Personal Consumer Issues
Topic: wifi router, too many options!
Replies: 41
Views: 2924

wifi router, too many options!

Hi, I worked in tech but have completely lost track of the home wifi router market and the options are dizzying. Our current router is the asus n66u, it's over five years old, the antennas are cracked/broken, it's dropping connections (I think) and I'm concerned the security may be compromised (I sh...
by gips
Sat Aug 03, 2019 2:03 pm
Forum: Personal Consumer Issues
Topic: Talk me out of buying a Tesla Model 3
Replies: 554
Views: 47464

Re: Talk me out of buying a Tesla Model 3

In accumulation we were bogleheads/consumer reports car buyers: never spent more than $25k and drove our cars into the ground. Point in case, when my comp moved into seven figures, I drove a forester and a Hyundai Santa Fe. Now, with an empty nest and sufficient funds, decided to splurge on a model ...
by gips
Sat Jul 27, 2019 2:29 am
Forum: Personal Finance (Not Investing)
Topic: Finding a preparer for complex tax returns and consultation
Replies: 20
Views: 1751

Re: Finding a preparer for complex tax returns and consultation

I was a co-owner of a consulting firm and after we grew to a certain size, chose grant Thornton as our accountancy. They recommended we also use them for our personal returns which made some sense. After negotiation, we agreed on $5k (!) per return. The returns were prepared by an experienced CPA an...
by gips
Mon Jul 08, 2019 8:28 pm
Forum: Personal Consumer Issues
Topic: purchasing in st augustine, fl?
Replies: 0
Views: 369

purchasing in st augustine, fl?

Hi, we're thinking about purchasing a vacation/retirement home in the st augustine area. We play tennis, like the beach and it seems like there should be some cultural events in the area. Also, we won't be full-time residents, so it would be good to recoup some expenses via rental. Anyone live there...
by gips
Wed Jun 26, 2019 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Pay Cash for Primary Residence?
Replies: 44
Views: 4773

Re: Pay Cash for Primary Residence?

we used bond allocation = age but left it 60-40 eq/bond after I reached age 40. We completely ignored the equity we had in our home when analyzing asset allocation.
by gips
Wed Jun 26, 2019 9:27 am
Forum: Investing - Theory, News & General
Topic: Crypto bulls are back. Are you getting in?
Replies: 278
Views: 25201

Re: Crypto bulls are back. Are you getting in?

As I see it there are 3 uses today: 1) Criminal activity 2) Speculation that someone will buy it from you for more than you paid. 3) As a way to replace a quickly depreciating currency. I would bet #1 and #2 likely dominate the market. I have no way of proving that, it is just a suspicion from read...
by gips
Tue Jun 25, 2019 7:45 pm
Forum: Investing - Theory, News & General
Topic: Crypto bulls are back. Are you getting in?
Replies: 278
Views: 25201

Re: Crypto bulls are back. Are you getting in?

in the book sapiens, Harari makes the point that human are the dominant species because of our ability to create and maintain myths. Money is one of those myths. The $20 dollar bills in our wallets aren't worth the paper they're printed on. So now we've created a new myth, cryptocurrency. If enough ...
by gips
Tue Jun 25, 2019 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Pay Cash for Primary Residence?
Replies: 44
Views: 4773

Re: Pay Cash for Primary Residence?

we had a 2% mortgage so it didn't make sense to pay off the loan. I retired and we wanted to purchase an apt in nyc. Due to the coops debt to income ratio requirements, we had to pay off the mortgage (I know, makes no sense). Intellectually, I was unhappy with the move but emotionally, it feels grea...
by gips
Wed Jun 19, 2019 12:50 pm
Forum: Personal Investments
Topic: RMDs vs voluntary withdrawals?
Replies: 6
Views: 924

Re: RMDs vs voluntary withdrawals?

thanks, makes sense.
by gips
Tue Jun 18, 2019 8:47 pm
Forum: Personal Investments
Topic: RMDs vs voluntary withdrawals?
Replies: 6
Views: 924

Re: RMDs vs voluntary withdrawals?

good point but not really what I'm asking.
by gips
Tue Jun 18, 2019 7:54 pm
Forum: Personal Investments
Topic: RMDs vs voluntary withdrawals?
Replies: 6
Views: 924

RMDs vs voluntary withdrawals?

Hi, we're mostly retired, our investment income puts us in the 22% fed tax bracket. I'm 63, my wife is 55. I've been analyzing if it makes financial sense to withdraw IRA money to the top of the 22% tax bracket. I don't think it makes sense because I'll lose the value of tax-free compounding on the ...
by gips
Mon Jun 17, 2019 4:58 pm
Forum: Investing - Theory, News & General
Topic: Should I abandon the Total International Stock Index Fund for greener pastures?
Replies: 110
Views: 10992

Re: Should I abandon the Total International Stock Index Fund for greener pastures?

Vanguard Total International Stock Index expense ratio (admiral class) - 0.11 Vanguard International Growth (admiral class)- 0.32 You would be paying fee almost three times higher. Has the returns been almost three times as good? is that the way it should work? All things being equal, I'd pay .21 m...
by gips
Wed Jun 12, 2019 12:30 pm
Forum: Personal Consumer Issues
Topic: pc remote viewing software like teamviewer?
Replies: 10
Views: 571

pc remote viewing software like teamviewer?

I'd like to provide support for an older, remote family member by seeing what they're doing on their computer when they have problems. I found teamviewer, free for personal use, has anyone used it in this fashion? anything else I should look at? thanks, p.s. just in case someone is tempted, let's ju...
by gips
Wed Jun 12, 2019 9:09 am
Forum: Personal Finance (Not Investing)
Topic: 2015 subaru forester 96k, replace or run into the ground?
Replies: 24
Views: 2152

Re: 2015 subaru forester 96k, replace or run into the ground?

I’m not sure what the push is for you to consider replacing it right now. Is it just because it’s approaching 100k? The vehicle could easily last another 100k without any significant repairs. I would keep it and run it into the ground. Have you had anything go wrong with it, other than maintaining ...
by gips
Tue Jun 11, 2019 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: 2015 subaru forester 96k, replace or run into the ground?
Replies: 24
Views: 2152

Re: 2015 subaru forester 96k, replace or run into the ground?

thanks for the input, leaning towards keeping it, it has been very reliable. It does have eyesight and adaptive cruise control (the only extras I purchased) and it has been amazing...As I move towards my mid 60s, I wouldn't consider a car without it.

best,
by gips
Tue Jun 11, 2019 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: 2015 subaru forester 96k, replace or run into the ground?
Replies: 24
Views: 2152

2015 subaru forester 96k, replace or run into the ground?

Hi, I have a 2015 subaru forester with 98k miles that I purchased in 2014, edmunds calls trade in value $10k, paid $24k. Typically we try for at least seven years for our cars but we didn't have a lot of luck with our last subaru and consumer reports gives it a 3 out of 5 for reliability. sell and p...
by gips
Mon Jun 10, 2019 11:05 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 3353
Views: 295570

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

haven't read all 39 pages(!) but somewhere you write that it might be hard not to take money off the table towards the end of your horizon. Agree, and it would surely suck for the investment to be on target after year 18 or 19 years only to experience a high drawdown. I'd want to think about pulling...