Search found 7412 matches

by TheTimeLord
Fri May 29, 2020 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Simple jobs during FATFire?
Replies: 84
Views: 5053

Re: Simple jobs during FATFire?

One thing I'm not overestimating - how much I hate having a job. Well I guess if you hate having a job you must really like having a paycheck otherwise you would have quit by now. So you can focus on what you dislike or focus on what you appreciate, your life your choice. I was planning to retire i...
by TheTimeLord
Fri May 29, 2020 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Simple jobs during FATFire?
Replies: 84
Views: 5053

Re: Simple jobs during FATFire?

Are you saying that 90% of the under 50s retire projecting too high a withdrawal rate or that you can't understand how someone could be happy on say $50k a year? I am saying that they are underestimating the issues that arise in the backside of life and overestimating their ability to be satisfied ...
by TheTimeLord
Fri May 29, 2020 10:26 am
Forum: Personal Finance (Not Investing)
Topic: Simple jobs during FATFire?
Replies: 84
Views: 5053

Re: Simple jobs during FATFire?

To be honest I don't understand how 90+% of those who FIRE before 50 believe they are FI or can actually live the lifestyle to which they aspire. It just seems like most are headed for a hard landing later in life when there is little chance of recovery. In many ways it just seems like a different ...
by TheTimeLord
Fri May 29, 2020 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Simple jobs during FATFire?
Replies: 84
Views: 5053

Re: Simple jobs during FATFire?

Got it. Cancel the gym membership and paying for your kids' tuitions will be a cinch. Honestly that article basically boils down to "Being rich is better than being poor, so just be rich!" It is hard to argue with it. Who wouldn't want 10 million dollars instead of 1?:) I sort of doubt many people ...
by TheTimeLord
Fri May 29, 2020 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Simple jobs during FATFire?
Replies: 84
Views: 5053

Re: Simple jobs during FATFire?

To be honest I don't understand how 90+% of those who FIRE before 50 believe they are FI or can actually live the lifestyle to which they aspire. It just seems like most are headed for a hard landing later in life when there is little chance of recovery. In many ways it just seems like a different ...
by TheTimeLord
Fri May 29, 2020 10:16 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 18822
Views: 2630340

Re: U.S. stocks in free fall

Sometimes it works, but there's no basis for it. It's risk management. When it finally works, that strategy will be in cash, while you sweat out an 80%+ drawdown (this happened recently, less than 90 years ago). Fatalism has rarely been the key to success in people's lives. How we feel does not alt...
by TheTimeLord
Fri May 29, 2020 9:50 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 18822
Views: 2630340

Re: U.S. stocks in free fall

Forester wrote:
Fri May 29, 2020 9:05 am
valleyrock wrote:
Thu May 28, 2020 11:17 pm
Sometimes it works, but there's no basis for it.
It's risk management. When it finally works, that strategy will be in cash, while you sweat out an 80%+ drawdown (this happened recently, less than 90 years ago).
Fatalism has rarely been the key to success in people's lives.
by TheTimeLord
Fri May 29, 2020 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Simple jobs during FATFire?
Replies: 84
Views: 5053

Re: Simple jobs during FATFire?

To be honest I don't understand how 90+% of those who FIRE before 50 believe they are FI or can actually live the lifestyle to which they aspire. It just seems like most are headed for a hard landing later in life when there is little chance of recovery. In many ways it just seems like a different f...
by TheTimeLord
Fri May 29, 2020 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Simple jobs during FATFire?
Replies: 84
Views: 5053

Re: Simple jobs during FATFire?

How is FATfire different from FIRE? https://www.financialsamurai.com/what-is-fat-fire-best-way-to-retire-early/ Fat FIRE allows you to: * Live in the most expensive cities in the world which all have wonderful culture, food, nightlife, entertainment, schools, and arts * Live in a comfortable house ...
by TheTimeLord
Fri May 29, 2020 7:19 am
Forum: Investing - Theory, News & General
Topic: Two accountants disagree - Bogleheads for the tiebreaker
Replies: 44
Views: 1952

Re: Two accountants disagree - Bogleheads for the tiebreaker

Here is the simple scenario: A husband and wife work together (as Realtors,) 100% Commission-based income (1099, schedule C.) They have the option to decide who earns the income on each sale throughout the year. Their former accountant’s strategy was to have the husband take about 75% of the commis...
by TheTimeLord
Thu May 28, 2020 10:34 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5703
Views: 487112

Re: U.S. stocks continue to soar!

TheTimeLord wrote:
Thu May 28, 2020 10:28 pm
Stinky wrote:
Thu May 28, 2020 3:29 pm
TheTimeLord wrote:
Thu May 28, 2020 3:14 pm
Hoping for a close of 3,052 tomorrow. Fingers crossed.
What’s the significance of 3052?
It should result in my equity allocation being exactly where I want it.
Actually anything between 3,051 and 3,060 should work just fine. But 3,052 is optimal.
by TheTimeLord
Thu May 28, 2020 10:28 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5703
Views: 487112

Re: U.S. stocks continue to soar!

Stinky wrote:
Thu May 28, 2020 3:29 pm
TheTimeLord wrote:
Thu May 28, 2020 3:14 pm
Hoping for a close of 3,052 tomorrow. Fingers crossed.
What’s the significance of 3052?
It should result in my equity allocation being exactly where I want it.
by TheTimeLord
Thu May 28, 2020 3:14 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5703
Views: 487112

Re: U.S. stocks continue to soar!

Hoping for a close of 3,052 tomorrow. Fingers crossed.
by TheTimeLord
Thu May 28, 2020 12:56 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5703
Views: 487112

Re: U.S. stocks continue to soar!

Weeks like this I'm reminded of the sage advice that if you are out of the market just a handful of days, you can massively underperform due to the market's tendency to move in a large amounts over small periods of time. Not sure if this surge today will hold through close, but it's quite the sight...
by TheTimeLord
Thu May 28, 2020 11:50 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5703
Views: 487112

Re: U.S. stocks continue to soar!

The S&P has moved out of correction territory. Who woulda thunk it? Not me, I thought the reopening would have had some more bumps. I bought 100 shares of an S&P 500 ETF on 5/4 and looking at it today it is up a little over 8.8%, an unexpected result. Edit: The Triple Qs I bought on the same day ar...
by TheTimeLord
Thu May 28, 2020 11:08 am
Forum: Investing - Theory, News & General
Topic: Sitting on a bunch of cash; what to do with it if I believe we're headed for SPX 1800 and protracted recession?
Replies: 186
Views: 17745

Re: Sitting on a bunch of cash; what to do with it if I believe we're headed for SPX 1800 and protracted recession?

This rally does not necessarily mean anything... we went from 3386 to 2237 in few weeks.. that could happen again It's not about if it does or does not happen, it is about being set up to handle the risk whether it happens of not. And since I can only prepare for a finite set of outcomes I choose t...
by TheTimeLord
Thu May 28, 2020 10:51 am
Forum: Investing - Theory, News & General
Topic: Anyone screwed up timing the market?
Replies: 69
Views: 5180

Re: Anyone screwed up timing the market?

What they don't tell you about market timing is the absolute relief you feel when the market continues to tank as anyone who sold before March 23 knows. It's euphoric . The problem is the market whipsaws back the other way before you even had time to kick up you feet and relax. And then the paralys...
by TheTimeLord
Thu May 28, 2020 10:44 am
Forum: Investing - Theory, News & General
Topic: Anyone screwed up timing the market?
Replies: 69
Views: 5180

Re: Anyone screwed up timing the market?

I got out in march, saw the market drop further and then rise, rise, rise and now, if the market doesn´t come down again, I have missed the boat :oops: Anyone else who learned not to time the market? No offense but you may be confusing panicking (depending when in March you got out) with trying to ...
by TheTimeLord
Thu May 28, 2020 10:33 am
Forum: Investing - Theory, News & General
Topic: Sitting on a bunch of cash; what to do with it if I believe we're headed for SPX 1800 and protracted recession?
Replies: 186
Views: 17745

Re: Sitting on a bunch of cash; what to do with it if I believe we're headed for SPX 1800 and protracted recession?

Taking pity on the market timer, I think if I was sitting on a bunch of cash, I would set a target date and I'd DCA it back in. I know, time in the market and all that, I am just saying what i would do if I was the unfortunate person who started this thread. My target date would be a year, I think....
by TheTimeLord
Thu May 28, 2020 10:25 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5703
Views: 487112

Re: U.S. stocks continue to soar!

So do you need more equities to maintain your AA even with the market rallying? I am not understanding the continuing to buy statement. Continuing to buy as money comes in with each paycheck sounds pretty straightforward to me. It does, except with a 30+% rally off the bottom if someone rebalanced ...
by TheTimeLord
Thu May 28, 2020 10:23 am
Forum: Investing - Theory, News & General
Topic: Sitting on a bunch of cash; what to do with it if I believe we're headed for SPX 1800 and protracted recession?
Replies: 186
Views: 17745

Re: Sitting on a bunch of cash; what to do with it if I believe we're headed for SPX 1800 and protracted recession?

This rally does not necessarily mean anything... we went from 3386 to 2237 in few weeks.. that could happen again It's not about if it does or does not happen, it is about being set up to handle the risk whether it happens of not. And since I can only prepare for a finite set of outcomes I choose t...
by TheTimeLord
Thu May 28, 2020 10:10 am
Forum: Investing - Theory, News & General
Topic: Sitting on a bunch of cash; what to do with it if I believe we're headed for SPX 1800 and protracted recession?
Replies: 186
Views: 17745

Re: Sitting on a bunch of cash; what to do with it if I believe we're headed for SPX 1800 and protracted recession?

I would go back and look at your financial plan. What does your plan say to do whenever you believe you can predict the future? Who cares what happens in the next hour, day, week, month, or year? They could announce a cure tomorrow and the SPX could shoot right back up to over 3,000 very quickly. I...
by TheTimeLord
Thu May 28, 2020 10:05 am
Forum: Investing - Theory, News & General
Topic: “WHEN YOU'VE WON the game, stop playing with the money you really need.”
Replies: 99
Views: 7535

Re: “WHEN YOU'VE WON the game, stop playing with the money you really need.”

I think Bill's point in all of this is that if you have enough money to make it through retirement, don't invest the entire farm in the market anymore. I don't agree with him; however, that doesn't make it a bad approach. How do you know you how much is enough? Do you know how much your property ta...
by TheTimeLord
Thu May 28, 2020 9:47 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5703
Views: 487112

Re: U.S. stocks continue to soar!

Stocks are narrowly up as I type. Another up day is upon us. Is this still a “dead cat bounce”? At this point, the market is down 10% from all-time highs. It's noise to me. I continue to buy. Continue to buy? Why didn't you buy more when we were down more if you have the money? With equities rallyi...
by TheTimeLord
Thu May 28, 2020 9:45 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5703
Views: 487112

Re: U.S. stocks continue to soar!

Stinky wrote:
Thu May 28, 2020 8:46 am
Stocks are narrowly up as I type. Another up day is upon us.

Is this still a “dead cat bounce”?
The market is making me work very hard lately.
by TheTimeLord
Thu May 28, 2020 9:43 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5703
Views: 487112

Re: U.S. stocks continue to soar!

Stocks are narrowly up as I type. Another up day is upon us. Is this still a “dead cat bounce”? At this point, the market is down 10% from all-time highs. It's noise to me. I continue to buy. Continue to buy? Why didn't you buy more when we were down more if you have the money? With equities rallyi...
by TheTimeLord
Thu May 28, 2020 8:02 am
Forum: Investing - Theory, News & General
Topic: “WHEN YOU'VE WON the game, stop playing with the money you really need.”
Replies: 99
Views: 7535

Re: “WHEN YOU'VE WON the game, stop playing with the money you really need.”

I agree with that Tim wrote, in the sense I’m here mainly to be entertained far more that I am looking for ideas that will improve my portfolio. We are also in the category of having won the game, but we are still working and are 45/49 years old, so we are in no position to get very conservative wi...
by TheTimeLord
Thu May 28, 2020 7:58 am
Forum: Investing - Theory, News & General
Topic: “WHEN YOU'VE WON the game, stop playing with the money you really need.”
Replies: 99
Views: 7535

Re: “WHEN YOU'VE WON the game, stop playing with the money you really need.”

I think Bill's point in all of this is that if you have enough money to make it through retirement, don't invest the entire farm in the market anymore. I don't agree with him; however, that doesn't make it a bad approach. :P All I can give you is personal experience and for me my attitudes about th...
by TheTimeLord
Wed May 27, 2020 7:47 pm
Forum: Investing - Theory, News & General
Topic: “WHEN YOU'VE WON the game, stop playing with the money you really need.”
Replies: 99
Views: 7535

Re: “WHEN YOU'VE WON the game, stop playing with the money you really need.”

Even Warren Buffett would put his wife in a 50/50 portfolio... with $250M I believe that AA is incorrect - at least with regard to what Buffett said he would do... He said 90/10 with the 90% being the S&P 500 and the 10% being in short term government bonds. Then again, we are splitting hairs with ...
by TheTimeLord
Wed May 27, 2020 7:44 pm
Forum: Investing - Theory, News & General
Topic: “WHEN YOU'VE WON the game, stop playing with the money you really need.”
Replies: 99
Views: 7535

Re: “WHEN YOU'VE WON the game, stop playing with the money you really need.”

You’re still not hitting on the clear fact that you take on more risk by having less equities when wanting a portfolio to last for a very long time. Derisking doesn’t always mean “100% safe assets” and “fixed income” - It’s not always that simple Even Warren Buffett would put his wife in a 50/50 po...
by TheTimeLord
Wed May 27, 2020 7:17 pm
Forum: Investing - Theory, News & General
Topic: “WHEN YOU'VE WON the game, stop playing with the money you really need.”
Replies: 99
Views: 7535

Re: “WHEN YOU'VE WON the game, stop playing with the money you really need.”

The longevity of a portfolio, especially when thinking about timelines greater than 50 years, it’s very helpful to consider percentages between fixed income and equities in the portfolio. If you’ve won the game, keep some/all the winnings that you’ll need over a given timeframe in fairly safe asset...
by TheTimeLord
Wed May 27, 2020 4:01 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5703
Views: 487112

Re: U.S. stocks continue to soar!

SpaceX launch rally going on... like the rockets will this afternoon.... we are SOARING at the close! The smell of smoldering VOO short positions is in the air. Smells just as nice as a nice camp fire on a cool summer night. But the SpaceX launch was scrubbed. Now scheduled for Saturday, so we shou...
by TheTimeLord
Wed May 27, 2020 3:59 pm
Forum: Investing - Theory, News & General
Topic: “WHEN YOU'VE WON the game, stop playing with the money you really need.”
Replies: 99
Views: 7535

Re: “WHEN YOU'VE WON the game, stop playing with the money you really need.”

Whether you have 1 million or 10 million, I recommend never going lower than 50% equities. A 50/50 portfolio provides stability on the fixed side, but also wards off nasty inflation by giving the growth on the equity side. You actually substantially increase your risk of your portfolio longevity by...
by TheTimeLord
Wed May 27, 2020 3:53 pm
Forum: Investing - Theory, News & General
Topic: “WHEN YOU'VE WON the game, stop playing with the money you really need.”
Replies: 99
Views: 7535

Re: “WHEN YOU'VE WON the game, stop playing with the money you really need.”

A lot depends on an individual's circumstances as to whether they "won the game". The key is not only the size of the portfolio but also the size of the yearly draw down and how you withdraw. Do you use the "safe" assets as an ATM by only withdrawing from those assets? (and likely have a rising equ...
by TheTimeLord
Wed May 27, 2020 3:47 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5703
Views: 487112

Re: U.S. stocks continue to soar!

mrspock wrote:
Wed May 27, 2020 3:00 pm
SpaceX launch rally going on... like the rockets will this afternoon.... we are SOARING at the close! The smell of smoldering VOO short positions is in the air. Smells just as nice as a nice camp fire on a cool summer night.
But the SpaceX launch was scrubbed.
by TheTimeLord
Wed May 27, 2020 2:44 pm
Forum: Investing - Theory, News & General
Topic: “WHEN YOU'VE WON the game, stop playing with the money you really need.”
Replies: 99
Views: 7535

Re: “WHEN YOU'VE WON the game, stop playing with the money you really need.”

Albert Einstein said, “Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn't, pays it.” The 8th wonder of the world, compound interest, really starts to take shape when you get to that point of having enough to retire. I can't imagine pulling the funds...
by TheTimeLord
Wed May 27, 2020 2:36 pm
Forum: Investing - Theory, News & General
Topic: “WHEN YOU'VE WON the game, stop playing with the money you really need.”
Replies: 99
Views: 7535

Re: “WHEN YOU'VE WON the game, stop playing with the money you really need.”

William Bernstein is fond of saying “WHEN YOU'VE WON the game, stop playing with the money you really need.” For example: If you need $30,000 a year for 30 years you should have $900,000 in safe money. My question is where do you put this safe money if it is in a IRA and don't want to play with it?...
by TheTimeLord
Wed May 27, 2020 2:21 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5703
Views: 487112

Re: U.S. stocks continue to soar!

Befuddled. Just looked back 12 months ago, we were at 2800 and 6 months ago 3100 and 3 months ago nearly 3400. If some of the harder hit companies recover some or some more, will we see 300 points rise and be near back where we were as if nothing happened or changed? If we get back to ATH, it will ...
by TheTimeLord
Wed May 27, 2020 2:11 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5703
Views: 487112

Re: U.S. stocks continue to soar!

Befuddled. Just looked back 12 months ago, we were at 2800 and 6 months ago 3100 and 3 months ago nearly 3400. If some of the harder hit companies recover some or some more, will we see 300 points rise and be near back where we were as if nothing happened or changed? If we get back to ATH, it will ...
by TheTimeLord
Wed May 27, 2020 2:04 pm
Forum: Investing - Theory, News & General
Topic: Are we better off now than Dec 2018?
Replies: 237
Views: 15437

Re: Are we better off now than Dec 2018?

I think people need to ask themselves why they are freaked out about a US stock market that is just about where it was in Dec 2018. Why not just take what you had back then “off the table”. THINK about this! We are looking to be in far worse shape over the next year than anything that was remotely ...
by TheTimeLord
Wed May 27, 2020 1:46 pm
Forum: Investing - Theory, News & General
Topic: “WHEN YOU'VE WON the game, stop playing with the money you really need.”
Replies: 99
Views: 7535

Re: “WHEN YOU'VE WON the game, stop playing with the money you really need.”

William Bernstein is fond of saying “WHEN YOU'VE WON the game, stop playing with the money you really need.” It sounds good, but it can lead to some recklessly conservative approaches (e.g. 25 years of expenses in fixed income). About the only situation where it makes some sense is for people who h...
by TheTimeLord
Wed May 27, 2020 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Simple jobs during FATFire?
Replies: 84
Views: 5053

Re: Simple jobs during FATFire?

FIRE, FATFire, Barista FIRE, Morbidly Obese FIRE..... Don't people just "retire" anymore? That would be RE. The real question is are you FI in regards to your desired lifestyle. Anyone can retire, doesn't mean it is a financially pleasant thing. To just retire would be “R”. The “E” stands for early...
by TheTimeLord
Wed May 27, 2020 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Simple jobs during FATFire?
Replies: 84
Views: 5053

Re: Simple jobs during FATFire?

JD2775 wrote:
Wed May 27, 2020 9:31 am
FIRE, FATFire, Barista FIRE, Morbidly Obese FIRE.....

Don't people just "retire" anymore?
That would be RE. The real question is are you FI in regards to your desired lifestyle. Anyone can retire, doesn't mean it is a financially pleasant thing.
by TheTimeLord
Wed May 27, 2020 9:43 am
Forum: Investing - Theory, News & General
Topic: “WHEN YOU'VE WON the game, stop playing with the money you really need.”
Replies: 99
Views: 7535

Re: “WHEN YOU'VE WON the game, stop playing with the money you really need.”

William Bernstein is fond of saying “WHEN YOU'VE WON the game, stop playing with the money you really need.” For example: If you need $30,000 a year for 30 years you should have $900,000 in safe money. My question is where do you put this safe money if it is in a IRA and don't want to play with it?...
by TheTimeLord
Wed May 27, 2020 9:39 am
Forum: Investing - Theory, News & General
Topic: “WHEN YOU'VE WON the game, stop playing with the money you really need.”
Replies: 99
Views: 7535

Re: “WHEN YOU'VE WON the game, stop playing with the money you really need.”

Sounds like a statement of fear. I'm not a big fan of that approach. You leave a lot of money on the table when you put that many resources underneath your mattress. It works for the investor, but not so much for your loved ones when you are gone. This is the approach I use. It has worked very well...
by TheTimeLord
Tue May 26, 2020 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Simple jobs during FATFire?
Replies: 84
Views: 5053

Re: Simple jobs during FATFire?

https://www.financialsamurai.com/what-is-fat-fire-best-way-to-retire-early/ Fat FIRE allows you to: * Live in the most expensive cities in the world which all have wonderful culture, food, nightlife, entertainment, schools, and arts * Live in a comfortable house with at least three bedrooms, two ba...
by TheTimeLord
Tue May 26, 2020 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Simple jobs during FATFire?
Replies: 84
Views: 5053

Re: Simple jobs during FATFire?

How is FATfire different from FIRE? https://www.financialsamurai.com/what-is-fat-fire-best-way-to-retire-early/ Fat FIRE allows you to: * Live in the most expensive cities in the world which all have wonderful culture, food, nightlife, entertainment, schools, and arts * Live in a comfortable house ...
by TheTimeLord
Tue May 26, 2020 11:55 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5703
Views: 487112

Re: U.S. stocks continue to soar!

Glass-half-empty thought: All this soaring means I'm going to continue to accumulate at expensive prices portending poor future returns :oops: I was half-hoping for a nice subdued market for a decade or so. Yeah as a 29yo I was praying for a slow -80% decline over a whole decade. Because you didn't...
by TheTimeLord
Tue May 26, 2020 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Simple jobs during FATFire?
Replies: 84
Views: 5053

Re: Simple jobs during FATFire?

This question gets posted over & over (search Barista FIRE to find other threads) and I think it's so patronizing. Don't you think if there were low stress, mentally stimulating, part time jobs that provided health insurance that the hundreds of thousands of unemployed people in our country would b...
by TheTimeLord
Tue May 26, 2020 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Simple jobs during FATFire?
Replies: 84
Views: 5053

Re: Simple jobs during FATFire?

I would think FATFire would be about maximizing your hobbies and interests. If that includes software development look into open source projects.