Search found 555 matches

by EddyB
Mon Dec 10, 2018 1:58 pm
Forum: Personal Consumer Issues
Topic: safest downhill ski helmet
Replies: 25
Views: 625

Re: safest downhill ski helmet

I always get a kick out of people asking about the safest parachute, the safest helmet, the safest car, the safest climbing rope etc. If your goal is to maximize safety, the gear probably isn't the place to focus your efforts. Reducing exposure will likely pay much bigger dividends. Any ski helmet ...
by EddyB
Sat Dec 08, 2018 5:57 pm
Forum: Investing - Help with Personal Investments
Topic: Best place for children’s money.
Replies: 17
Views: 1260

Re: Best place for children’s money.

NotWhoYouThink wrote:
Sat Dec 08, 2018 5:13 pm

An 18 or 21 year old might use money for college, or a car, or to start a business. Or maybe to travel the world for a while. Or buy drugs, or support an addict boy/girlfriend, or lie about and game all day.
It does seem that at 25 or 30 they’d be less likely to use the money for college.
by EddyB
Wed Dec 05, 2018 6:05 pm
Forum: Investing - Help with Personal Investments
Topic: investing under kid's name to save tax. is it viable?
Replies: 17
Views: 1902

Re: investing under kid's name to save tax. is it viable?

You can’t use the money for general support that you as a parent are responsible for. www.fairmark.com - search for UTMAs and UTMA regret FYI, that site seems to contradict you: “Many people have the mistaken impression that you can’t use a custodial account for items that a parent is required to p...
by EddyB
Wed Dec 05, 2018 9:27 am
Forum: Investing - Help with Personal Investments
Topic: investing under kid's name to save tax. is it viable?
Replies: 17
Views: 1902

Re: investing under kid's name to save tax. is it viable?

You can’t use the money for general support that you as a parent are responsible for. www.fairmark.com - search for UTMAs and UTMA regret FYI, that site seems to contradict you: “Many people have the mistaken impression that you can’t use a custodial account for items that a parent is required to p...
by EddyB
Wed Dec 05, 2018 8:42 am
Forum: Investing - Help with Personal Investments
Topic: investing under kid's name to save tax. is it viable?
Replies: 17
Views: 1902

Re: investing under kid's name to save tax. is it viable?

You can’t use the money for general support that you as a parent are responsible for. www.fairmark.com - search for UTMAs and UTMA regret FYI, that site seems to contradict you: “Many people have the mistaken impression that you can’t use a custodial account for items that a parent is required to p...
by EddyB
Sat Nov 03, 2018 9:36 pm
Forum: Investing - Theory, News & General
Topic: [WSJ: The New Retirement Plan: Save Almost Everything, Spend Virtually Nothing]
Replies: 74
Views: 8588

Re: [WSJ: The New Retirement Plan: Save Almost Everything, Spend Virtually Nothing]

I get the frugality and goal of financial independence. But I don't get the whole retire early thing. For people of this age their ability to generate income for another 30 years is their most valuable asset. Being ABLE to retire at 40 is great. But actually doing so is like liquidating millions in...
by EddyB
Sat Nov 03, 2018 9:28 pm
Forum: Investing - Theory, News & General
Topic: [WSJ: The New Retirement Plan: Save Almost Everything, Spend Virtually Nothing]
Replies: 74
Views: 8588

Re: [WSJ: The New Retirement Plan: Save Almost Everything, Spend Virtually Nothing]

I get the frugality and goal of financial independence. But I don't get the whole retire early thing. For people of this age their ability to generate income for another 30 years is their most valuable asset. Being ABLE to retire at 40 is great. But actually doing so is like liquidating millions in...
by EddyB
Fri Nov 02, 2018 10:26 pm
Forum: Investing - Theory, News & General
Topic: "Individual investors should have access to Private Equity"
Replies: 46
Views: 3452

Re: "Individual investors should have access to Private Equity"

Not understanding. Why should the government tell me who I should be doing business with? The government does not tell you who you can do business with. It requires companies seeking money from the general public to share certain informations and abide by certain rules which are enforced by the SEC...
by EddyB
Wed Oct 31, 2018 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: Is it more advantageous to live in HCOL or LCOL area in terms of financial independence?
Replies: 180
Views: 11171

Re: Is it more advantageous to live in HCOL or LCOL area in terms of financial independence?

Its not necessarily true. Someone who is frugal, saving 70% of their salary could be a decamillionaire while working in LOCL area and then decide to move to HCOL. What matters more is what % of your income you can save. This is WRONG!! If person A makes $300,000 a year and saves 20% of their salary...
by EddyB
Wed Oct 31, 2018 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Is it more advantageous to live in HCOL or LCOL area in terms of financial independence?
Replies: 180
Views: 11171

Re: Is it more advantageous to live in HCOL or LCOL area in terms of financial independence?

It would always make more sense to live in a HCOL area if your salary is also higher, because you can always move to a LCOL area in retirement, you cant always move to a higher paying job from a LCOL area. Its not necessarily true. Someone who is frugal, saving 70% of their salary could be a decami...
by EddyB
Sun Oct 28, 2018 9:06 pm
Forum: Personal Consumer Issues
Topic: Getting depressed with all this saving. :-(
Replies: 38
Views: 6423

Re: Getting depressed with all this saving. :-(

RudyS wrote:
Sun Oct 28, 2018 9:05 pm
bhsince87 wrote:
Sun Oct 28, 2018 8:38 pm
$100k hi-fi?

I'm not exactly feeling your pain here...100
He didn't say $100K, just 100K. I think that was a metaphor, like giving a dog's age in human years, i.e., old!
He also said just 100k in Apple.
by EddyB
Tue Oct 23, 2018 9:20 pm
Forum: Investing - Theory, News & General
Topic: 'Smart money' bailing on the market, time to get out?
Replies: 92
Views: 12325

Re: Smart money bailing on the market, time to get out?

The other person is correct, stop reading the trash reports from people with an agenda. All you're talking about is what we call 'noise'. Ignore the noise and just stay the course. People who panic never make profits. The other person is also correct - those of us who use indexed funds make out bet...
by EddyB
Sun Oct 21, 2018 7:51 pm
Forum: Personal Consumer Issues
Topic: Quitting w/o notice
Replies: 132
Views: 8718

Re: Quitting w/o notice

David Jay wrote:
Sun Oct 21, 2018 6:35 pm
It is very poor form if you expect to return to the job market.

My company has a policy that says “no recommendation” for someone who leaves without proper notice and an exit interview. So it can impact you down the road.
I’m so glad my company has a policy of “no recommendation” in any case!
by EddyB
Thu Oct 18, 2018 11:53 pm
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 113
Views: 6975

Re: Depositing Cash if it was gifted?

This thread might be much more helpful to OP if everyone who is offering advice would volunteer how many cash transactions of $5000+ they have personally made in the past ten years rather than speculating about something with which they have no experience or in-depth knowledge. Only hire a lawyer w...
by EddyB
Thu Oct 18, 2018 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 113
Views: 6975

Re: Depositing Cash if it was gifted?

I'll bet there's probably more cash in other places in the house. (My in-law put a deceased's persons stuff in the front yard for a yard sale, then started going through the pockets. After they found several hundred dollars, they pulled all the clothes inside for another time. The original family d...
by EddyB
Thu Oct 18, 2018 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 113
Views: 6975

Re: Depositing Cash if it was gifted?

Deposit the cash. If asked where you received the funds, be truthful - you inherited it. The bank will need to file a report and may ask you for some id, but there is no crime in depositing legal tender that was a windfall saved over the course of 50 years. Sounds like good advice, and they do say,...
by EddyB
Thu Oct 18, 2018 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Approach to rescinding a job acceptance
Replies: 50
Views: 4115

Re: Approach to rescinding a job acceptance

edge wrote:
Thu Oct 18, 2018 11:06 am
By accepting the counter you are going to work hard to be re-accepted by your current company.

I would never accept a counter.
Not at all consistent with my experience (both for myself and others); it was all just "business as usual."
by EddyB
Tue Oct 16, 2018 8:45 pm
Forum: Investing - Theory, News & General
Topic: "Safe" Withdrawal Rate for Early Retirees (or any retiree)
Replies: 226
Views: 19640

Re: "Safe" Withdrawal Rate for Early Retirees (or any retiree)

... I mean, if you can't put faith on any historical data, then it seems odd to say 3% for ER is "groupthink", but 2% you are comfortable with. Discarding historical data, then you are left to imagining dire scenarios, which I understand. But, is your imagination so limited that you can only conjur...
by EddyB
Tue Oct 16, 2018 7:22 pm
Forum: Investing - Theory, News & General
Topic: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"
Replies: 203
Views: 11411

Re: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"

In conclusion, if you folks are content with following the herd about international investing without doing any investigation, then by all mean. Better you than me. What does the herd do? My impression is that U.S. investors overall are heavily tilted toward the U.S. in their equity investing, but ...
by EddyB
Fri Oct 12, 2018 9:40 pm
Forum: Personal Consumer Issues
Topic: Anyone here major in Economics in college?
Replies: 68
Views: 4027

Re: Anyone here major in Economics in college?

I majored in economics in a selective liberal arts program, with my personal focus on the purely impractical. My entire school emphasized effective, persuasive writing, and I found that to be a great complement to the analytical aspect of the economics program. I then went to a top law school, where...
by EddyB
Tue Oct 09, 2018 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: You're in the Top 1% if you have $2.5 million
Replies: 21
Views: 3504

Re: You're in the Top 1% if you have $2.5 million

What is says is that people who are top 1% income earners have average savings of $2.5 million. That’s not to say that having $2.5 million puts one in the top 1% by savings (or at least, by the savings they’re measuring; hard to say whether it’s comprehensive).
by EddyB
Sat Oct 06, 2018 10:10 am
Forum: Investing - Help with Personal Investments
Topic: 45 year old - retirement question
Replies: 10
Views: 1425

Re: 45 year old - retirement question

https://www.thebalance.com/what-is-the- ... 55-2894280

Consider the “rule of 55” regarding accessing a 401(k) if you separate from the employer at or after 55.
by EddyB
Tue Oct 02, 2018 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Root of Good's cost of raising a child: $3,300 per year
Replies: 163
Views: 5767

Re: Root of Good's cost of raising a child: $3,300 per year

To paraphrase: "we retired early so the rest of you taxpayers are paying for my kids healthcare". I would be embarrassed to openly admit such a thing. Just like MMM types - the rest of society is subsidizing these lazy folk that don't want to work long enough to be self sustaining. Name of the site...
by EddyB
Tue Oct 02, 2018 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Root of Good's cost of raising a child: $3,300 per year
Replies: 163
Views: 5767

Re: Root of Good's cost of raising a child: $3,300 per year

To paraphrase: "we retired early so the rest of you taxpayers are paying for my kids healthcare". I would be embarrassed to openly admit such a thing. Just like MMM types - the rest of society is subsidizing these lazy folk that don't want to work long enough to be self sustaining. Name of the site...
by EddyB
Tue Oct 02, 2018 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: Root of Good's cost of raising a child: $3,300 per year
Replies: 163
Views: 5767

Re: Root of Good's cost of raising a child: $3,300 per year

To paraphrase: "we retired early so the rest of you taxpayers are paying for my kids healthcare". I would be embarrassed to openly admit such a thing. Just like MMM types - the rest of society is subsidizing these lazy folk that don't want to work long enough to be self sustaining. Name of the site...
by EddyB
Tue Oct 02, 2018 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Root of Good's cost of raising a child: $3,300 per year
Replies: 163
Views: 5767

Re: Root of Good's cost of raising a child: $3,300 per year

Education tends to be a back-end loaded expense. The comparison is 0-17, so the potentially outsized costs of college wouldn’t ordinarily factor in. I also suspect this is a family that will find and take a very affordable path, and not be concerned about whether they can pay sticker price at a pri...
by EddyB
Sat Sep 29, 2018 9:31 am
Forum: Investing - Theory, News & General
Topic: Rich, Broke or Dead: Visualizing probabilities of outcomes in early retirement
Replies: 136
Views: 18023

Re: Rich, Broke or Dead: Visualizing probabilities of outcomes in early retirement

The safe thing for these people to do is to admit uncertainty and overcompensate before retirement by planning to save more and spend less Now, if I can get the kids to buy into that idea I think that would be one less concern on the plate. But it’s easy to turn that into trading one pair of blinde...
by EddyB
Fri Sep 28, 2018 12:01 am
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 658
Views: 83504

Re: How much money do you want to retire?

Peppergrass wrote:
Thu Sep 27, 2018 11:53 pm
I like setting high goals,, it pushes you farther, while if you don't hit it you most likely get pretty dang far
Or it creates catastrophic failure. Or it comes at the expense of other dimensions (or even knowing those other dimensions exist any may merit their own goals).
by EddyB
Tue Sep 25, 2018 10:48 am
Forum: Investing - Help with Personal Investments
Topic: To rent out our house or not
Replies: 25
Views: 1442

Re: To rent out our house or not

Get some numbers together. Insurance: Non-owner occupied is going to increase your rates. Ask your agent how much. Mortgage: If you have an owner occupied residential mortgage, that could be called if the bank finds out it's now a rental. Or find a new mortgage for the rental. Loss of owner occupie...
by EddyB
Sun Sep 23, 2018 9:00 pm
Forum: Investing - Help with Personal Investments
Topic: Im going to die somewhere between Bankruptcy and $20 million
Replies: 46
Views: 9734

Re: Im going to die somewhere between Bankruptcy and $20 million

But if that happens how exactly do you think you could protect yourself? Get a ranch somewhere in the midwest. Buy lots of ammo, canned food, and fuel to run own generator. I grew up being prepared for pretty much that response to SHTF scenarios, and I’m confident that very few US residents could s...
by EddyB
Thu Sep 20, 2018 4:16 pm
Forum: Personal Consumer Issues
Topic: Did you really have something to retire to?
Replies: 133
Views: 11872

Re: Did you really have something to retire to?

I retired specifically to complete a singlehanded sailboat race from San Francisco to Hawaii. That was my entire plan for things to do. Money is not a big issue for us. I spent the last two years after that race getting ready for the next race which I just completed. This kept me busier than a one ...
by EddyB
Sun Sep 16, 2018 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: [Credit freezes and un-freezes are now free]
Replies: 58
Views: 2557

Re: New York Times--NYTimes: Freezing Credit Will Now Be Free. Here’s Why You Should Go for It.

Wouldn't it be great if the news reported the facts instead of the conclusion you're supposed to draw from them? This is a column called "Your Money Adviser". In any case, the only opinion ventured by the author seems to be “[c]hecking your credit report periodically is also wise.” The article does...
by EddyB
Sun Sep 16, 2018 10:12 am
Forum: Personal Finance (Not Investing)
Topic: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?
Replies: 118
Views: 11632

Re: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?

Well, I guess it depends on the person and where he works. There is no doubt that holding down a responsible full time job or career will take up a lot of energy. Probably the majority of personal energy ,or close to it, for most people. I agree it will often shape one’s identity. Certainly did for...
by EddyB
Sat Sep 15, 2018 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Vacation house? Need objective third party
Replies: 67
Views: 6176

Re: Vacation house? Need objective third party

Don’t buy houses you can’t get to , inspect/work on, and get back from within a day Also for better or worse, summers have changed drastically for most motivated kids - attending TIP programs, specialized camps, pseudo internships, not lazing around lakes. One malady of many affluent parents, raisi...
by EddyB
Sat Sep 15, 2018 9:07 am
Forum: Personal Finance (Not Investing)
Topic: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?
Replies: 118
Views: 11632

Re: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?

The assumption that all people who like/love their jobs don’t have any other interests in their lives is clearly false. For this to be true everyone who enjoys their job/career would have to be a “workaholic”. I had plenty of “outside interests” while working and hardly worked more than 50 hours a ...
by EddyB
Sat Sep 15, 2018 8:53 am
Forum: Personal Finance (Not Investing)
Topic: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?
Replies: 118
Views: 11632

Re: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?

Is the goal of life to be spending your days in liesure activities? Have a hobby - cool. Go fishing. OK. But what kind of impact do you want to make on the world? Establishing a leadership role in a company is not purely about climbing the ladder to make more money. Making more money is a fringe be...
by EddyB
Thu Sep 13, 2018 9:32 pm
Forum: Personal Consumer Issues
Topic: What will you do when you find you have more money than expected?
Replies: 91
Views: 10040

Re: What will you do when you find you have more money than expected?

With new and ever improved medical treatments in the pipeline as well as LTC concerns and associated expenses for the well healed costing over 100k annually I suspect few have more money than necessary. Lets be realistic, not fool-hearty . +1 There might be a $1MM shot in the future that could make...
by EddyB
Tue Sep 11, 2018 3:53 pm
Forum: Investing - Theory, News & General
Topic: Why Bull Markets Are Dangerous
Replies: 152
Views: 21429

Re: Why Bull Markets Are Dangerous

One of my "clues" came from another thread on this site. People were really lecturing a commenter who came on this site around 2015 announcing they pulled out of the stock market because of high valuations. More recently, someone reposted the thread and lots of "experts" jumped in to give this lost...
by EddyB
Mon Sep 10, 2018 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: Excessive Emergency Room Charges - Options?
Replies: 207
Views: 12552

Re: Excessive Emergency Room Charges - Options?

Trying to find an ophthalmologist on call for an ER is not that easy. Finding a really good one that is available is even harder. The best ones I know don’t take call. This is no criticism of ophthalmologists. It’s the system. Interesting. So people who have severe eye injuries (an emergency) are j...
by EddyB
Sun Sep 09, 2018 10:10 pm
Forum: Personal Consumer Issues
Topic: Can Sneakers go with Business Casual?
Replies: 172
Views: 8775

Re: Can Sneakers go with Business Casual?

... (Personally I don't care what shoes someone is wearing, I don't see how it's related to competence). People don't know what's going on inside your head, or know your level of competence by seeing you. They will form strong initial judgments on how they see you presenting yourself. You may not g...
by EddyB
Sat Sep 08, 2018 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: Excessive Emergency Room Charges - Options?
Replies: 207
Views: 12552

Re: Excessive Emergency Room Charges - Options?

You don't eat a loaf of bread and then negotiate the price. Pay the bill. And don't go to the ER unless it's an actual emergency. If you walked out at the end of the ER visit without hospitalization or surgery it probably could have been managed in a doctors office. Speaking as a doctor who covers ...
by EddyB
Sat Sep 08, 2018 9:51 am
Forum: Investing - Help with Personal Investments
Topic: Max you should invest in a 529?
Replies: 181
Views: 10419

Re: Max you should invest in a 529?

In any case, this is a personal finance forum. Folks need to assess their probability of not reaching the next level of the pyramid. It gets narrower at the top. It is obvious that most people do not make it to the next level. KlangFool I don’t think anyone’s disputing that, just pointing out that ...
by EddyB
Fri Sep 07, 2018 5:47 pm
Forum: Investing - Help with Personal Investments
Topic: Max you should invest in a 529?
Replies: 181
Views: 10419

Re: Max you should invest in a 529?

Bacchus01, Time for you to provide a counter example. KlangFool Not Bacchus, but this recent article claims peak earnings at an "average" 40 for women and 49 for men. https://www.businessinsider.com/when-you-earn-the-most-owe-the-most-and-accrue-the-most-wealth-2017-12 EddyB, From your quoted artic...
by EddyB
Fri Sep 07, 2018 5:29 pm
Forum: Investing - Help with Personal Investments
Topic: Max you should invest in a 529?
Replies: 181
Views: 10419

Re: Max you should invest in a 529?

Still doesn’t support “most” Bacchus01, Time for you to provide a counter example. KlangFool Not Bacchus, but this recent article claims peak earnings at an "average" 40 for women and 49 for men. https://www.businessinsider.com/when-you-earn-the-most-owe-the-most-and-accrue-the-most-wealth-2017-12 ...
by EddyB
Fri Sep 07, 2018 5:10 pm
Forum: Investing - Help with Personal Investments
Topic: Max you should invest in a 529?
Replies: 181
Views: 10419

Re: Max you should invest in a 529?

Still doesn’t support “most” Bacchus01, Time for you to provide a counter example. KlangFool Not Bacchus, but this recent article claims peak earnings at an "average" 40 for women and 49 for men. https://www.businessinsider.com/when-you-earn-the-most-owe-the-most-and-accrue-the-most-wealth-2017-12
by EddyB
Thu Sep 06, 2018 10:43 pm
Forum: Investing - Help with Personal Investments
Topic: Max you should invest in a 529?
Replies: 181
Views: 10419

Re: Max you should invest in a 529?

A) For most folks that could answer "yes" to that question, their annual savings is high enough that they could "cash flow" the college education when the times come. Hence, they do not need to save for a college education. This advice seems to be ignoring the tax benefit of 529? When you income is...
by EddyB
Thu Aug 30, 2018 10:26 pm
Forum: Investing - Theory, News & General
Topic: "6 Reasons The Rich Should Pay-Off Their Mortgage"
Replies: 196
Views: 36777

Re: "6 Reasons The Rich Should Pay-Off Their Mortgage"

I couldn't agree with you more. In days when it is cold or rains heavily, my family and I can stay warm, have a roof of our own over our heads - the feeling is priceless! I like the idea, but it seems like a fantasy. Isn’t the relevant difference between a mortgage and property taxes just one of de...
by EddyB
Thu Aug 30, 2018 9:24 pm
Forum: Investing - Theory, News & General
Topic: "6 Reasons The Rich Should Pay-Off Their Mortgage"
Replies: 196
Views: 36777

Re: "6 Reasons The Rich Should Pay-Off Their Mortgage"

On the other hand, being debt-free with a roof over your head is psychologically priceless, especially in 2008-like scenarios or worse. I couldn't agree with you more. In days when it is cold or rains heavily, my family and I can stay warm, have a roof of our own over our heads - the feeling is pri...
by EddyB
Thu Aug 30, 2018 12:36 am
Forum: Investing - Theory, News & General
Topic: "6 Reasons The Rich Should Pay-Off Their Mortgage"
Replies: 196
Views: 36777

Re: "6 Reasons The Rich Should Pay-Off Their Mortgage"

On the other hand, being debt-free with a roof over your head is psychologically priceless, especially in 2008-like scenarios or worse. I couldn't agree with you more. In days when it is cold or rains heavily, my family and I can stay warm, have a roof of our own over our heads - the feeling is pri...
by EddyB
Wed Aug 29, 2018 3:20 pm
Forum: Investing - Theory, News & General
Topic: Diminishing Proportion of Returns with Stocks
Replies: 23
Views: 1510

Re: Diminishing Proportion of Returns with Stocks

Equities are increasing by 20% at each data point (0, 20, 40, 60, 80, 100%). The average returns are increasing (5.4, 6.7, 7.8, 8.7, 9.5, 10.1%) but the proportional increase (the difference between them) is decreasing (1.3, 1.1, 0.9, 0.8, 0.6%). I apologize for not explaining my question very clea...