Search found 799 matches

by EddyB
Fri Jul 19, 2019 11:22 pm
Forum: Personal Finance (Not Investing)
Topic: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?
Replies: 136
Views: 7905

Re: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?

If a HCOL person is willing to retire to a LCOL area, they probably will have more wealth. If not, I'm thinking no. I know for me, I was offered 50% more money for a job in California, but housing was 200%-300% more... Maybe i should have taken it, lived worse for 10-15 years, and retired back in L...
by EddyB
Fri Jul 19, 2019 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?
Replies: 136
Views: 7905

Re: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?

If a HCOL person is willing to retire to a LCOL area, they probably will have more wealth. If not, I'm thinking no. I know for me, I was offered 50% more money for a job in California, but housing was 200%-300% more... Maybe i should have taken it, lived worse for 10-15 years, and retired back in L...
by EddyB
Fri Jul 19, 2019 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: If you own a sportfishing boat...when did you pull the trigger?
Replies: 16
Views: 1236

Re: If you own a sportfishing boat...when did you pull the trigger?

I would treat the purchase like any other vehicle - total of all vehicles annually should not be more than 5% of annual post-tax income. So, if you are earning $2MM-40MM per annum you are in the ballpark for the boat you need. Be mindful, as others have said, of operating costs. What does "total of...
by EddyB
Thu Jul 18, 2019 11:33 pm
Forum: Personal Finance (Not Investing)
Topic: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?
Replies: 136
Views: 7905

Re: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?

However, in a LCOL area I have witnessed wealth and wealth accumulation beyond my wildest dreams. Wealth is also different in a LCOL rural area. Even a medium size farm is a multi-million dollar business. Think about that the next time you are flying over "flyover" country and see all those funny l...
by EddyB
Thu Jul 18, 2019 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?
Replies: 136
Views: 7905

Re: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?

2) My definition of wealth is based on FI. I think this is a good point often overlooked. If the goal is to retire at the same standard as one lives then it's probably a wash assuming similar savings rates etc (I haven't actually run any numbers). If the goal is to have the most dollar amount possi...
by EddyB
Tue Jul 16, 2019 11:55 pm
Forum: Personal Finance (Not Investing)
Topic: Do you care about your home appreciating?
Replies: 91
Views: 4717

Re: Do you care about your home appreciating?

We don't think the surprisingly high appreciation shown on Zillow is in any way realistic. It's pretty accurate in our area. We too care about our home appreciating. On one hand, it means that our property tax bill goes up. Isn’t it relative appreciation (within the applicable tax base), not absolu...
by EddyB
Tue Jul 16, 2019 7:01 pm
Forum: Personal Investments
Topic: US citizen retiring in Spain - portfolio concern
Replies: 25
Views: 1998

Re: US citizen retiring in Spain - portfolio concern

Regarding the cost of living, prices are not very different, the main difference is the cost of healthcare. All people in Spain have free healthcare, so that pushes private healthcare down. Other than that, I would say that prices of goods in Spain are similar to the US, and many families live on 2...
by EddyB
Mon Jul 15, 2019 10:15 pm
Forum: Personal Finance (Not Investing)
Topic: House not appraising for amount we were offered!
Replies: 136
Views: 12668

Re: House not appraising for amount we were offered!

I agree with that. They use properties that are similar that have closed for appraisals. I am not sure what else they could use in the process though. If you are in an appreciating area with few sales, that can happen. I live in a big city and this is rarely a problem. If the area is that hot for t...
by EddyB
Mon Jul 15, 2019 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: House not appraising for amount we were offered!
Replies: 136
Views: 12668

Re: House not appraising for amount we were offered!

I'm not sure what you mean. The relevance is that they have to pay all or the difference in cash. If they are motivated, which if bidding over asking it seems they are, maybe they can do so and will be willing to do so. Note my use of “appraisal process”—-what I mean is that if three buyers are ind...
by EddyB
Mon Jul 15, 2019 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: House not appraising for amount we were offered!
Replies: 136
Views: 12668

Re: House not appraising for amount we were offered!

The bank doesn't care if someone pays $256k if it appraises for $230k if they don't default (which they cannot know in advance). The bank wants to know if they do default that someone else will pay $256k. I once sold a house for which I received three offers, all of which were over the appraisal th...
by EddyB
Mon Jul 15, 2019 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: House not appraising for amount we were offered!
Replies: 136
Views: 12668

Re: House not appraising for amount we were offered!

To me, thats pretty significant -not talking $1000-$5000 difference between appraisal and your listing price. Are you sure your listing price isn't too high? (begs question of Realtor) Feel like info is missing. $20k difference on a home in that price range is significant, even in a sellers market....
by EddyB
Mon Jul 15, 2019 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: House not appraising for amount we were offered!
Replies: 136
Views: 12668

Re: House not appraising for amount we were offered!

To me, thats pretty significant -not talking $1000-$5000 difference between appraisal and your listing price. Are you sure your listing price isn't too high? (begs question of Realtor) Feel like info is missing. $20k difference on a home in that price range is significant, even in a sellers market....
by EddyB
Sat Jul 13, 2019 8:54 pm
Forum: Investing - Theory, News & General
Topic: Americans believe they need $1.7 million, on average, to retire
Replies: 284
Views: 27091

Re: Americans believe they need $1.7 million, on average, to retire

If you are the sort of person whose ego is married to their corporate identity, then maybe there is some psychological benefit. If you are the type of person who started your own business and it is your baby, I can also understand that. Many small-business owners I know simply don't stop working - ...
by EddyB
Sat Jul 13, 2019 8:51 pm
Forum: Investing - Theory, News & General
Topic: Americans believe they need $1.7 million, on average, to retire
Replies: 284
Views: 27091

Re: Americans believe they need $1.7 million, on average, to retire

“Two Million Dollars is Nothing. It’s Pennies,” says Suze Orman. context is the fire community. I'm looking for the loco emoji https://affordanything.com/two-million-dollars-is-nothing-its-pennies-says-suze-orman/ “But if you only have a few hundred thousand dollars, or a million, or $2 million, I’...
by EddyB
Fri Jul 12, 2019 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Going to law school question
Replies: 55
Views: 3312

Re: Going to law school question

I'm surprised noone mentioned it--if passing the bar is all you nerd there are a few states that dont even require a law degree to try to take it if you think you can study hard enough to pass it without the degree you don't care about. I may be wrong, but I don’t believe the “reading the law” path...
by EddyB
Wed Jul 10, 2019 7:45 pm
Forum: Investing - Theory, News & General
Topic: Buffet says no to bonds - recommends equities and cash
Replies: 91
Views: 13914

Re: Buffet says no to bonds - recommends equities and cash

Good pull from the archive. For those who were allocated at 40 - 60% bonds for this duration, what are your true feelings on what could have been? Do you still plan on staying the course even though bonds are likely to continue to be dismal for the foreseeable future? Dismal real return? Sure. Dism...
by EddyB
Wed Jul 10, 2019 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: How much should I have saved for retirement by age 40?
Replies: 111
Views: 17568

Re: How much should I have saved for retirement by age 40?

$43 million If you have saved less, you are behind Next question Are you including home equity in that? I think it should be liquid assets. Apologies for not being more specific... Yes, liquid assets only. It excludes SS, home equity and even rolexes Guyanaese dollars or Liberian dollars?
by EddyB
Wed Jul 10, 2019 10:24 am
Forum: Personal Consumer Issues
Topic: Who cuts your hair? And for how much?
Replies: 153
Views: 7989

Re: Who cuts your hair? And for how much?

jeff1949 wrote:
Tue Jul 09, 2019 9:18 pm
Random Poster wrote:
Tue Jul 09, 2019 8:14 pm
My wife.

Hard to determine the price, but it isn’t cheap...
Ditto. :sharebeer
Random Poster's wife must be pretty good at it.
by EddyB
Mon Jul 08, 2019 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: Who will inherit the money?
Replies: 6
Views: 1444

Re: Who will inherit the money?

Thesaints wrote:
Mon Jul 08, 2019 5:32 pm
BTW, your wife's consent is perhaps a nice-to-have, but not at all necessary.
Do community property laws affect your advice on this subject?
by EddyB
Sun Jul 07, 2019 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Prenuptial for future son-in-law - RESOLVED
Replies: 46
Views: 2388

Re: Prenuptial for future son-in-law

We plan on sitting down with the future couple soon to discuss the prenuptial agreement. They will have no advance knowledge of the topic of discussion. If our future son-in-law declines signing, I would tell them we now consider them financially independent. Personally, I feel that ambushing him w...
by EddyB
Fri Jul 05, 2019 6:57 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 11060
Views: 1939790

Re: U.S. stocks in free fall

CoastalWinds wrote:
Fri Jul 05, 2019 5:02 pm
S&P off 0.18%. How is that a cliff??!
And that’s just the S&P 500. Vanguard’s total stock market fund was down 0.059%.
by EddyB
Fri Jul 05, 2019 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Big Hospital Bill - Any way to negotiate ?
Replies: 130
Views: 7583

Re: Big Hospital Bill - Anyway to negociate ?

Oh, are we doing this again? I thought we just did this "how to get out of paying doctors" thing yesterday. I had an A/C guy over yesterday. He gave me a $6K bill. Any recommendations to negotiate this with the company? Is it better to not pay and let it go to collections and then negotiate with th...
by EddyB
Sat Jun 29, 2019 10:18 am
Forum: Personal Consumer Issues
Topic: Outdoor Fire Pit - Wood vs. Gas?
Replies: 53
Views: 3356

Re: Outdoor Fire Pit - Wood vs. Gas?

Thanks, Sandtrap. Good points. There is a product I am keeping my eye on called the Solo Stove that can burn wood with minimal smoke. People are reviewing product saying they don't smell like a campfire afterwards, so maybe it's hopeful? Thanks again. We have neighborhood early evening/late afterno...
by EddyB
Fri Jun 28, 2019 11:40 pm
Forum: Personal Finance (Not Investing)
Topic: Suing employer/USG? Advice Thread
Replies: 13
Views: 1144

Re: Suing employer/USG? Advice Thread

TheLaughingCow wrote:
Fri Jun 28, 2019 11:37 pm
Thanks for the advice everyone
With regard to the claim itself, any advice other than to consult an experienced lawyer is misguided and/or uninformed.
by EddyB
Thu Jun 27, 2019 8:50 am
Forum: Personal Finance (Not Investing)
Topic: Anybody else unable to afford a home/have six figure income?
Replies: 60
Views: 7181

Re: Anybody else unable to afford a home/have six figure income?

RollTide31457 wrote:
Wed Jun 26, 2019 6:13 pm
Leave California. Your quality of life will greatly improve in the Midwest or South.
While I think market behavior indicates that this isn’t generally true, there’s certainly no way to say it’s true for a specific person about whom you know so little.
by EddyB
Mon Jun 24, 2019 9:09 pm
Forum: Personal Consumer Issues
Topic: Favorite mountain lodge destinations in the west?
Replies: 49
Views: 4154

Re: Favorite mountain lodge destinations in the west?

nedsaid wrote:
Mon Jun 24, 2019 5:41 pm
livesoft wrote:
Mon Jun 24, 2019 4:54 pm
Timberline Lodge at Mt Hood is famous. I haven't been there.
I have many times and highly recommend it.
Me too, even in the summer (when I've found plenty to do).
by EddyB
Mon Jun 24, 2019 7:31 am
Forum: Personal Investments
Topic: Social Security - does payoff amount change if I stop contributing?
Replies: 6
Views: 796

Re: Social Security - does payoff amount change if I stop contributing?

Jack FFR1846 wrote:
Mon Jun 24, 2019 7:22 am
Typically, when you ask for your payout, it is assumed that you will continue working at your current salary until PIA. So yes, your payout will be less.
The OP wrote that she or he doesn’t currently contribute to social security, so wouldn’t your assumption lead to the opposite conclusion?
by EddyB
Sun Jun 23, 2019 10:20 am
Forum: Investing - Theory, News & General
Topic: Vanguard to offer private equity investments? Thoughts?
Replies: 69
Views: 6636

Re: Vanguard to offer private equity investments? Thoughts?

hdas wrote:
Sun Jun 23, 2019 8:16 am
Bitzer wrote:
Sun Jun 23, 2019 7:01 am
This news item is reported in the online edition of today's Wall Street Journal
It’s about time. This is a win for the little guy :greedy
I am pretty sure that it’s a win for the PE folks.
by EddyB
Sat Jun 22, 2019 10:51 pm
Forum: Personal Consumer Issues
Topic: Where to Live? N. Orange County, CA or Vancouver, WA or Atlanta
Replies: 82
Views: 6787

Re: Where to Live? N. Orange County, CA or Vancouver, WA or Atlanta

Does your wife realize that you could use the savings by NOT moving to CA to fly there 4 times a year? (or more!). I'd stay put in Atlanta if you are happy there. If you wife is home-schooling she should be able to make some extended visits to family in CA. Start playing the points game to get some...
by EddyB
Fri Jun 21, 2019 11:10 pm
Forum: Investing - Theory, News & General
Topic: Investing in Multiple Streams of Income? (NOT get rich quick)
Replies: 89
Views: 7392

Re: Investing in Multiple Streams of Income? (NOT get rich quick)

...But I don't know of a single founder-billionaire who went around selling $2 billion of their company stock and then buying $2 billion of commercial/rental real estate. But you don't have to look any further than your daily news feed to see Donald Trump, who made a lot of money (politics and argu...
by EddyB
Fri Jun 21, 2019 9:33 pm
Forum: Investing - Theory, News & General
Topic: Investing in Multiple Streams of Income? (NOT get rich quick)
Replies: 89
Views: 7392

Re: Investing in Multiple Streams of Income? (NOT get rich quick)

...But I don't know of a single founder-billionaire who went around selling $2 billion of their company stock and then buying $2 billion of commercial/rental real estate. But you don't have to look any further than your daily news feed to see Donald Trump, who made a lot of money (politics and argu...
by EddyB
Mon Jun 17, 2019 7:40 pm
Forum: Personal Consumer Issues
Topic: GPS Watch for tracking dementia patient
Replies: 12
Views: 1134

Re: GPS Watch for tracking dementia patient

I have a Garmin watch that has a GPS. The problem with a watch like that and someone with dementia is that the GPS uses a lot of battery, and the watches mitigate the battery life problem by making the user turn the GPS on when they want to track location. My Garmin Vivosport wouldn’t work for your...
by EddyB
Mon Jun 17, 2019 6:34 pm
Forum: Personal Consumer Issues
Topic: GPS Watch for tracking dementia patient
Replies: 12
Views: 1134

Re: GPS Watch for tracking dementia patient

I don’t know if the roaming issue is different for Verizon, but they have a watch-style trackable device marketed for kids (although its exterior doesn’t look childish), called the “Gizmo,” that may be worth looking at.
by EddyB
Mon Jun 17, 2019 8:46 am
Forum: Forum Issues and Administration
Topic: Why not add a "like" button to Boglehead posts?
Replies: 185
Views: 31088

Re: A way to "thank" posts

Send a PM. I would stop visiting this website if such Facebook-esque 'features' were ever implemented. I think a lot of people would leave the site. In the long run, a lot of people will leave the site in any case, and an increasing portion of the potential new audience won’t be put off by (and wil...
by EddyB
Mon Jun 17, 2019 8:07 am
Forum: Personal Consumer Issues
Topic: Best way to teach my 4 year old to be fluent in Spanish?
Replies: 53
Views: 3442

Re: Best way to teach my 4 year old to be fluent in Spanish?

Will do good wrote:
Sun Jun 16, 2019 2:36 pm
Have you consider Chinese instead? In our school district less Spanish classes and more Chinese classes.
That seems unlikely to achieve the OP’s goal.
by EddyB
Sat Jun 15, 2019 6:00 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2599
Views: 199698

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

Could someone refresh my memory on the downside of doing this through Vanguard's brokerage account rather than the one Hedgefundie used? I'm guessing the answer exists somewhere on this thread, but it has grown so large that I am hoping someone will spare me the trouble of searching through it. Tha...
by EddyB
Tue Jun 11, 2019 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: Risk with undischarged mortgage?
Replies: 7
Views: 417

Re: Risk with undischarged mortgage?

If you aren’t going to listen to your attorney’s advice, get a new attorney. Presumably you’re paying him/her for that advice. I understand your sentiment, but I value the opinions of Bogleheads, some of whom are attorneys with substantial experience. I would not listen to Bogleheads blindly over o...
by EddyB
Mon Jun 10, 2019 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: Laminating important documents - a good idea?
Replies: 34
Views: 2488

Re: Laminating important documents - a good idea?

FIREchief wrote:
Mon Jun 10, 2019 6:07 pm
Other than perhaps the diploma, aren't all of those easily replaced through the appropriate issuing agency?
Depends on the agency and the urgency. I recall getting a copy of my (NYS) birth certificate was very slow.
by EddyB
Sat Jun 08, 2019 10:49 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2599
Views: 199698

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

For background info, the 5% rule is from Jack Bogle. See the wiki: Variations on Bogleheads® investing (Having a play money account, Note 1) John Bogle recommends setting aside no more than 5% of your investments as "funny money", which is the most you can afford to lose and not jeopardize your ret...
by EddyB
Sat Jun 08, 2019 8:45 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2599
Views: 199698

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

For background info, the 5% rule is from Jack Bogle. See the wiki: Variations on Bogleheads® investing (Having a play money account, Note 1) John Bogle recommends setting aside no more than 5% of your investments as "funny money", which is the most you can afford to lose and not jeopardize your ret...
by EddyB
Sat Jun 08, 2019 7:53 am
Forum: Personal Consumer Issues
Topic: Sports classes in Universities
Replies: 60
Views: 3476

Re: Sports classes in Universities

Many moons ago, I had to pass a swim test when starting college. Also required was 4 semesters of Phys Ed. Same requirement no matter what your major was. If you couldn't pass the swim test, you were automatically put in swim class for your first semester of Phys Ed. That’s very interesting. There’...
by EddyB
Sun Jun 02, 2019 11:34 pm
Forum: Personal Consumer Issues
Topic: Financing / Affording a Sportsmobile / luxurious small Class B RV…?
Replies: 49
Views: 2331

Re: Financing / Affording a Sportsmobile / luxurious small Class B RV…?

Maybe someone can clarify for me but the large RV (class A) can be had for the same price. I know there is some maneuverability and length restriction issues but I can’t understand why the small ones cost same price as the big ones. Am I missing something? If you make a mill/yr, cash flow it over a...
by EddyB
Sat Jun 01, 2019 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: How do BH define Cost of Living Cities
Replies: 48
Views: 2697

Re: How do BH define Cost of Living Cities

The ratio of median household income vs. median house price might be a useful tool to use when considering COL. Los Angeles clocked in at 9.6 years while Youngstown, Ohio came in at 1.9 years. Article - https://www.citylab.com/equity/2018/05/where-the-house-price-to-income-ratio-is-most-out-of-whac...
by EddyB
Fri May 31, 2019 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: For those who earn $500k+ per year. How'd you do that?
Replies: 369
Views: 38334

Re: For those who earn $500k+ per year. How'd you do that?

Wife makes ~500k at a mega law firm (market bonuses move it around a bit). She did it by going to a top college and a top law school and working all the time. 100 hour weeks pretty regularly. She's a workaholic. I followed the same path and bowed out before partnership and now make ~150k as a publi...
by EddyB
Thu May 30, 2019 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Fun paid jobs after FIRE
Replies: 180
Views: 16555

Re: Fun paid jobs after FIRE

It's not complicated at all. If you do paid work, you're not retired. If that paid work is for someone else, you're employed, and if it's just for you, you're self employed. If you only work part time, then you do part time work. If you don't work at all, but your spouse works for money, you're a "...
by EddyB
Thu May 30, 2019 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Fun paid jobs after FIRE
Replies: 180
Views: 16555

Re: Fun paid jobs after FIRE

It's not complicated at all. If you do paid work, you're not retired. If that paid work is for someone else, you're employed, and if it's just for you, you're self employed. If you only work part time, then you do part time work. If you don't work at all, but your spouse works for money, you're a "...
by EddyB
Wed May 29, 2019 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Fun paid jobs after FIRE
Replies: 180
Views: 16555

Re: Fun paid jobs after FIRE

There are no "jobs" after FIRE. If you have a job, you aren't FIRE'd. Sure, you can have one or many hobbies. If your idea of a hobby is to put on a fancy red vest and play the "expert" at ACE, then more power to you! :beer Many people don't agree with this. For many, FIRE means you have the freedo...
by EddyB
Tue May 28, 2019 10:25 am
Forum: Personal Finance (Not Investing)
Topic: FIRE in 6-7 years vs 20+ years
Replies: 44
Views: 4950

Re: FIRE in 6-7 years vs 20+ years

If I was making 435K and I had a partner that earned 200K, I would be inclined to save 400K minimum a year.. cause who can not live nice on 100K+? Depending on what state they live or work in, this couple may only have $400k after taxes, so you and your hypothetical partner in their shoes would hav...
by EddyB
Mon May 27, 2019 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: FIRE in 6-7 years vs 20+ years
Replies: 44
Views: 4950

Re: FIRE in 6-7 years vs 20+ years

Watty wrote:
Mon May 27, 2019 7:34 pm
With a household income of over $635K you could pretty much live the same lifestyle in the US.
The working vs. not working seems like a pretty big lifestyle difference, no?
by EddyB
Fri May 24, 2019 10:52 am
Forum: Investing - Theory, News & General
Topic: Who killed value?
Replies: 23
Views: 2588

Re: Who killed value?

nisiprius wrote:
Fri May 24, 2019 10:48 am
Every time a child says "I don't believe in factors," a factor dies...
I can still hear the value-factor bell ring.