I'll be generous - Whether the bathroom reno was a smart financial move might perhaps depend on the situation. A mess, broken stuff or a 1960s eyesore, maybe it was the right thing?
But there's no situation where I'd pay a realtor to NOT put my house on the market. If the realtor's buyer is indeed the best offer then putting it on the market properly wouldn't change that.
Search found 1155 matches
- Mon Mar 18, 2024 10:36 am
- Forum: Personal Consumer Issues
- Topic: Realtor has ideas and a buyer
- Replies: 23
- Views: 1653
- Mon Mar 18, 2024 10:26 am
- Forum: Non-US Investing
- Topic: How well are my finances set for bootstrap startup? [Singapore]
- Replies: 11
- Views: 546
Re: How well are my finances set for bootstrap startup?
My wife bootstrapped her startup - a small marketing agency. Other than quitting her job and a few bucks for hardware and accounting the cost was minimal. Despite absolutely no experience on the agency management side of things, it's now a medium-sized marketing agency. You're not in the US so healthcare likely not the same problem as it is here. Life is short OP. If this would bring you pleasure you're in financial shape to do it. The theoretical concern isn't that you haven't done all of this before - by definition no first-time entrepreneur has. My one question would be this - In the worst possible case it doesn't work. How easy would it be for you to get a new corporate gig after, say, 2 years? If the worst case isn't bad at all, then y...
- Mon Mar 18, 2024 9:35 am
- Forum: Personal Consumer Issues
- Topic: NYC This Year or Wait? Has it sufficiently recovered from Covid?
- Replies: 54
- Views: 3855
Re: NYC This Year or Wait? Has it sufficiently recovered from Covid?
Have lived in New York for 30 years.
The subways are a little less crowded at rush hour otherwise business as usual. Despite a lot of the nonsense spewed by one particular TV channel (oddly still headquartered in New York) life here is good and crime is still low compared to other US cities.
Come visit us in Brooklyn OP. The view from the promenade is magical and the cherry blossoms will be out soon.
The subways are a little less crowded at rush hour otherwise business as usual. Despite a lot of the nonsense spewed by one particular TV channel (oddly still headquartered in New York) life here is good and crime is still low compared to other US cities.
Come visit us in Brooklyn OP. The view from the promenade is magical and the cherry blossoms will be out soon.
- Mon Mar 18, 2024 8:32 am
- Forum: Personal Investments
- Topic: Can I retire with $1.75M at age 43?
- Replies: 169
- Views: 10977
Re: Can I retire with $1.75M at age 43?
This.
I can understand the desire to never want to work again after a bad experience - I've had a couple. But the middle ground has a ton of merit for me. Some (eventual - take some time off!) income from part time or different work. Enough to cover expenses and perhaps fund a small SEP and your fortunes improve markedly over time. You may not need it as others have said. You're in great shape.
Me, I'd be concerned about the expense creep that can come with leisure time and long term access to healthcare, but I'm a worrier. Good luck OP,
- Sat Mar 16, 2024 9:26 am
- Forum: Personal Consumer Issues
- Topic: Buying an Expensive Car
- Replies: 79
- Views: 6260
Re: Buying an Expensive Car
Commit to buying yourself a nice 40th birthday present.
Sure you can afford it. But at your age spending this kind of money on any depreciating object is a significant headwind to financial success. Good luck OP,
Sure you can afford it. But at your age spending this kind of money on any depreciating object is a significant headwind to financial success. Good luck OP,
- Fri Mar 15, 2024 1:04 pm
- Forum: Investing - Theory, News & General
- Topic: Great news! No more [fixed real estate] agent commission
- Replies: 163
- Views: 15034
Re: Great news! No more agent commission
I always thought there should be some sort of tiered or floating commission, such that if a selling agent got me (the seller) a price over a certain level, the commission percent would be higher. That would motivate both the seller and the agent to get the best price. So if I had a million dollar property, the agent could get 35%, say, of anything over a million, and, say, a smallish commission on the basic million dollar target. There ought to be some sort of algorithm. Maybe it's a job for AI... (Isn't this how hedge funds work?) This. By us the houses are very, very similar. Getting the listing means a huge payday for someone regardless of what happens. Weighting the comp towards getting a higher price aligns interests far more than the...
- Fri Mar 15, 2024 12:40 pm
- Forum: Personal Consumer Issues
- Topic: Identity theft or something to ignore?
- Replies: 18
- Views: 1155
Re: Identity theft or something to ignore?
This would be my approach. Every past due I've got from healthcare providers - we get a lot of inaccurate billing - is by physical mail.turnturnturn wrote: ↑Fri Mar 15, 2024 12:27 pm I would ignore all future emails and not call them. If you were legitimately responsible for the payment, they'd have mailed multiple past due notices to you via USPS. In fact, they probably have snail-mailed many such notices to the correct person.
In the unlikely event it goes to collections, deal with that later (e.g., by requesting verification of the debt).
- Fri Mar 15, 2024 10:22 am
- Forum: Personal Finance (Not Investing)
- Topic: How much should I leave to nieces/nephews vs. siblings vs. charity I'm passionate about?
- Replies: 58
- Views: 4160
Re: How much should I leave to nieces/nephews vs. siblings vs. charity I'm passionate about?
A great question OP. Am in a similar situation. Wife, my mum and I have discussed. Mum's leaving a decent amount of money to her step-granddaughter by former marriage - current amount is about 3-5% of her net worth or maybe 6+ months of extra income for recipient. Not a blood relation. She's young, could use it and has remained close (and helpful) to her. We're all in agreement. The rest goes to me, then wife then our boy. Nothing from any of us is going to our blood relations. They've become vehemently anti-immigrant in the last few years so I just assumed they wouldn't want any money from this immigrant. In the past they've been able to modulate their views depending on how much money they needed to borrow from me, but that program's ende...
- Fri Mar 15, 2024 9:36 am
- Forum: Personal Consumer Issues
- Topic: Deck choices for new build?
- Replies: 9
- Views: 923
Re: Deck choices for new build?
Our deck at home in NY is ipe. Beautiful and solid. After 20 years of hot New York summers and frezing New York winters it's as solid as ever. Spraywashed and refinished it a few years ago. Expensive per square foot but our deck's not very big at all.
We have a larger deck on the front of our TN house. It's trex. Aesthetically it's great and was reasonably priced - a key consideration. The problem is that in summer it gets hot. Not terrible but definitely too hot for bare feet in mid-afternoon. It's somewhat in the shade - an overhang but does get direct sunlight for about half the day. In your wooded area with shade moving (one assumes) perhaps not a big concern.
We have a larger deck on the front of our TN house. It's trex. Aesthetically it's great and was reasonably priced - a key consideration. The problem is that in summer it gets hot. Not terrible but definitely too hot for bare feet in mid-afternoon. It's somewhat in the shade - an overhang but does get direct sunlight for about half the day. In your wooded area with shade moving (one assumes) perhaps not a big concern.
- Fri Mar 15, 2024 9:19 am
- Forum: Personal Consumer Issues
- Topic: "22 of the funniest novels since Catch-22" (acc. to the NYT)
- Replies: 29
- Views: 2874
Re: "22 of the funniest novels since Catch-22" (acc. to the NYT)
The Secret Diary of Adrian Mole, Aged 13 3/4, by Sue Townsend (1982) This was not only the funniest book I ever read (a dozen times) the series that followed was probably the most poignant. The first book is a truly hysterical diary of a bumbling, fumbling (is there any other kind?) heartbroken and then not teenager in England. Not coincidentally it came out out when I was 14. Our head mistress read a few pages in our morning assembly more than 40 years ago. I remember it clearly. The last - Adrian Mole - the Prostrate Years - a bittersweet treatise on getting older and getting old. In between there's family strife, the Iraq War, marriage and divorce and kids, Thatcher and every thing in between. All through the eyes of a boy/young man/man...
- Thu Mar 14, 2024 2:54 pm
- Forum: Personal Consumer Issues
- Topic: Need Help Finding a Hobby
- Replies: 76
- Views: 5972
Re: Need Help Finding a Hobby
If you like the crossword have you tried the spelling bee and Wordle? I try and do all three every day - with middling results.
- Thu Mar 14, 2024 11:44 am
- Forum: Investing - Theory, News & General
- Topic: Where does your [investing] inspiration come from?
- Replies: 31
- Views: 2904
Re: Where does your [investing] inspiration come from?
Love it.
Why I work hard and save: My mother
Why I invest: An old girlfriend's father. He made me $74 in my first year - and I didn't have to unload a single truck.
Why I'm a boglehead: Me + my math teachers + Warren Buffett. I work in the asset management industry, I understand statistics and I read.
Why I work hard and save: My mother
Why I invest: An old girlfriend's father. He made me $74 in my first year - and I didn't have to unload a single truck.
Why I'm a boglehead: Me + my math teachers + Warren Buffett. I work in the asset management industry, I understand statistics and I read.
- Thu Mar 14, 2024 9:07 am
- Forum: Personal Investments
- Topic: Reducing Large Inherited Holding of a Single Stock
- Replies: 18
- Views: 1988
Re: Reducing Large Inherited Holding of a Single Stock
OP,
It's 65% of your taxable but is is a sizable percentage of your overall assets? The stepped up basis is the question. Unless the gains after that are significant, reducing (not necessarily eliminating!) the single stock risk might be money well spent.
I cut back the stock from a prior employer. Paired some of the gains with losses elsewhere, but I did have a smallish bill. C'est la vie.
The "Fidelity complexity account" seems to be very much in your advisor's best interest.
It's 65% of your taxable but is is a sizable percentage of your overall assets? The stepped up basis is the question. Unless the gains after that are significant, reducing (not necessarily eliminating!) the single stock risk might be money well spent.
I cut back the stock from a prior employer. Paired some of the gains with losses elsewhere, but I did have a smallish bill. C'est la vie.
The "Fidelity complexity account" seems to be very much in your advisor's best interest.
- Wed Mar 13, 2024 6:33 pm
- Forum: Personal Finance (Not Investing)
- Topic: Cost of roofing and siding as a percent of house value
- Replies: 25
- Views: 1912
Re: Cost of roofing and siding as a percent of house value
Just replaced our roof - 0.15% of value.
Not sure how this help anyones. My house is small, vertical and in a city - and my roof is rubber… and flat. Also I had no choice - water was leaking through the old one. The percentage metric might have more meaning for optional upgrades like a kitchen redo, but a roof? Not much leeway in that one.
Not sure how this help anyones. My house is small, vertical and in a city - and my roof is rubber… and flat. Also I had no choice - water was leaking through the old one. The percentage metric might have more meaning for optional upgrades like a kitchen redo, but a roof? Not much leeway in that one.
- Wed Mar 13, 2024 12:09 pm
- Forum: Investing - Theory, News & General
- Topic: Is Raymond James beating the SP500? That's what they are claiming.
- Replies: 59
- Views: 4602
Re: Is Raymond James beating the SP500? That's what they are claiming.
The URL for the report includes the word "media." My guess is it's still linked from a very old, archived press release. Thus not being actively used for marketing - for reasons that are all too obvious on this board.
- Wed Mar 13, 2024 9:58 am
- Forum: Personal Consumer Issues
- Topic: [What UN-frugal thing do you do? What do you splurge on?]
- Replies: 785
- Views: 82830
Re: Frugal heros - what is your one guilty consumer splurge?
Great question. I own an expensive house, two expensive watches (one was a wedding present), expensive camera equipment and a "luxury" motorcycle. We don't compromise - much - on vacations. We live in the house. Not that it matters much but it's been a good investment. One watch was a 40th birthday present to myself, the other a belated wedding present from my wife - we got married later in life. My camera equipment is used daily and has been for decades. My bike hasn't been used much but a kid and a pandemic will do that. I've got a cross country jaunt planned for the summer. Our vacation splurges I don't regret for a second. Guess you gotta pick your battles and enjoy the occasional splurge. It doesn't come naturally to me but I...
- Tue Mar 12, 2024 11:44 am
- Forum: Personal Consumer Issues
- Topic: Travel Health Insurance (China)?
- Replies: 22
- Views: 1414
Re: Travel Health Insurance?
The one benefit of living in a country with absurdly expensive healthcare is that the rest of the world's services are incredibly cheap - and usually better.
I've never bought health insurance for overseas travel. My mother comes here from Europe and purchases a travel health policy. It doubles the price of her trip but better than risking bankruptcy if she's admitted to a hospital with something serious.
I've never bought health insurance for overseas travel. My mother comes here from Europe and purchases a travel health policy. It doubles the price of her trip but better than risking bankruptcy if she's admitted to a hospital with something serious.
- Tue Mar 12, 2024 9:15 am
- Forum: Personal Finance (Not Investing)
- Topic: Weekend home vs trading up on the primary home
- Replies: 15
- Views: 1807
Re: Weekend home vs trading up on the primary home
We debated this for a while, and saved up a decent deposit for a second house. We live in the city so a second place near the water seemed very attractive. Then we nixed the idea, put most of the deposit towards our boy's college fund, made a few upgrades to our house and are taking 1-2 more vacations each year. For us there were several factors - The hassles and worry of maintaining another home near water, where the risk of storm damage, insurance ain't getting any better. Then we inherited one house and will inherit another. Neither in a vacation location but occasional hassles nonetheless. The boredom that comes with going to the same place over and over again. Some people would fare better than us on this one. I could see going often, ...
- Mon Mar 11, 2024 11:49 am
- Forum: Personal Consumer Issues
- Topic: What Movie Have You Recently Watched?
- Replies: 11037
- Views: 2066279
Re: What Movie Have You Recently Watched?
Yep.KBR wrote: ↑Sun Mar 03, 2024 12:09 amI saw it a long time ago and thought it was fantastic.bandoba wrote: ↑Sat Mar 02, 2024 10:27 pmI watched it and really liked it. Very different perspective on Mr Holmes.ruralavalon wrote: ↑Sat Mar 02, 2024 9:09 am Mr. Holmes, on Amazon Prime.
This is a mystery set in rural Sussex in 1947. Sherlock Holmes has been retired 30 years and lives in a farmhouse with a housekeeper and her young son. Holmes keeps bees to occupy his time. He struggles to reconstruct his last case (shown in flashbacks). His mind is deteriorating.
Recommended.
The books by Laurie King have the same "post-Watson" construct and do a great job of balancing Conan Doyle's style with new territory.
- Mon Mar 11, 2024 11:33 am
- Forum: Personal Consumer Issues
- Topic: Greece in August 24
- Replies: 31
- Views: 2312
Re: Greece in August 24
Love it.
We went on our honeymoon 10 years ago - Athens, Sifnos and Santorini. Then back to Athens to fly home.
Loved Athens - will be hot so early morning for key touristy stuff. I'd get a guide.
Sifnos - Incredible. Otherworldly beauty. Went swimming at the church (it's a thing) and ate some of the best food we've ever had.
Santorini - was nice. Rented a car and had a fun day and a great lunch in the country outside Ios. The town was beautiful but the cruise ship crowds were a turnoff - but possible to avoid if you time activities accordingly.
We went on our honeymoon 10 years ago - Athens, Sifnos and Santorini. Then back to Athens to fly home.
Loved Athens - will be hot so early morning for key touristy stuff. I'd get a guide.
Sifnos - Incredible. Otherworldly beauty. Went swimming at the church (it's a thing) and ate some of the best food we've ever had.
Santorini - was nice. Rented a car and had a fun day and a great lunch in the country outside Ios. The town was beautiful but the cruise ship crowds were a turnoff - but possible to avoid if you time activities accordingly.
- Mon Mar 11, 2024 9:49 am
- Forum: Personal Consumer Issues
- Topic: Is Calif Really That Expensive - Or Am I Missing Something?
- Replies: 133
- Views: 15480
Re: Is Calif Really That Expensive - Or Am I Missing Something?
This. I remember a politician spending about 15 minutes in New York a year or so ago and screaming about her experience walking past dead bodies, heroin addicts and criminals. By some strange coincidence she saw far more drug use, overdoses and violent crime in those 15 minutes than I've seen in 30 years.Valuethinker wrote: ↑Mon Mar 11, 2024 7:35 am
As with New York City, I have noticed that Americans always have an opinion about California, yay or nay.
People project stereotypes. The Inland Empire is no doubt nothing like Malibu? SF Bay very different again.
Looking at violent crime rates per capita gives a picture many folks don't want to acknowledge. That's fine. More room on the subway for me
- Mon Mar 11, 2024 9:23 am
- Forum: Investing - Theory, News & General
- Topic: How many are holding cash right now?
- Replies: 203
- Views: 31066
Re: How many are holding cash right now?
I have a year's minimum net (after rental income) expenses in a money market account and maybe 2 month's bills in my checking and savings.
A few years ago I wouldn't bother segmenting but with these rates why not. Definitely not a believer in market timing so I wouldn't consider it dry powder. The wrinkle for me is I'm making more consulting income than I expected so am trying to finish off all of the house repairs with that while maintaining the cash.
A few years ago I wouldn't bother segmenting but with these rates why not. Definitely not a believer in market timing so I wouldn't consider it dry powder. The wrinkle for me is I'm making more consulting income than I expected so am trying to finish off all of the house repairs with that while maintaining the cash.
- Mon Mar 11, 2024 9:09 am
- Forum: Personal Investments
- Topic: The classic dilemma between income and growth... Where should I be?
- Replies: 40
- Views: 2322
Re: The classic dilemma between income and growth... Where should I be?
I remember reading recently online was someone mentioning how corporations due a lot of stupid things with money and they would rather take the returns as income instead of gains... https://i.imgur.com/1iNxWR3.png It's good that you're asking the question OP but you may have conflated a few things. Yes, as you get closer to retirement I'd lobby for at least some fixed income in your portfolio. If it's all in a taxable account, adding it over time rather than realizing any gains would be the path to take. How much would depend on your target allocation. If you have both kinds of accounts then adding bonds in your 401k or similar can be more tax-efficient - tax on the bond yield is delayed and perhaps reduced. Let's assume 40% fixed income a...
- Sun Mar 10, 2024 11:33 am
- Forum: Personal Finance (Not Investing)
- Topic: Have any of you Frugal Zebras Changed Your (Spending) Stripes?
- Replies: 129
- Views: 10583
Re: Have any of you Frugal Zebras Changed Your (Spending) Stripes?
Yes... kind of. My tendency is to be rather frugal (semi-retired consultant with at least 40X expenses before likely inheritance and SS in 9 years.) My wife is, well, sometimes less frugal. Solo, my approach to vacations would be one, minimize them and two if we do go to do so with an eye to cost. Her approach is different. My realization of the cost difference between my approach and hers is that the cost delta is moderate and the experience wayyyyyy better. We'll have a guide, stay in nice places, eat in wonderful places - not always expensive but sometimes. For shorter transfers we'll just hire a driver and go. I don't know if I'll ever go back to Rome or Barcelona but we had a ball and made the most of every day. We still laugh about th...
- Sun Mar 10, 2024 11:19 am
- Forum: Personal Finance (Not Investing)
- Topic: Lending $100k+ to friend's business abroad
- Replies: 10
- Views: 924
Re: Lending $100k+ to friend's business abroad
All of the above plus -
How would you value a chateau that's (I'm guessing) 20% done and 80% ruin? Let's say there's an appraisal and your $100k is 10% of the value, you're providing no (or less) sweat equity so what percentage of the property should you own?
And if it's sold, there's a huge liquidity question - how many buyers are there for mostly derelict chateaus? Whatever the appraised value is, it may not have any bearing on what it could (eventually) sell for.
Good luck OP. Unless $100k was pocket change to me it's not something I'd be entertaining.
How would you value a chateau that's (I'm guessing) 20% done and 80% ruin? Let's say there's an appraisal and your $100k is 10% of the value, you're providing no (or less) sweat equity so what percentage of the property should you own?
And if it's sold, there's a huge liquidity question - how many buyers are there for mostly derelict chateaus? Whatever the appraised value is, it may not have any bearing on what it could (eventually) sell for.
Good luck OP. Unless $100k was pocket change to me it's not something I'd be entertaining.
- Fri Mar 08, 2024 10:05 am
- Forum: Personal Consumer Issues
- Topic: Drop Homeowner Ins- Self Insure
- Replies: 63
- Views: 4438
Re: Drop Homeowner Ins- Self Insure
This is definitely news to me.Mr. Potter wrote: ↑Fri Mar 08, 2024 6:50 am I know this is happening to everyone in every state so I certainly don’t feel singled out.
- Fri Mar 08, 2024 9:02 am
- Forum: Personal Finance (Not Investing)
- Topic: What would you have done differently if you could go back and restart your financial journey?
- Replies: 68
- Views: 5595
Re: What would you have done differently if you could go back and restart your financial journey?
Love it. The fact that you're asking smart questions at a young age means you're on the right track.
1. Do something you love and that you can do for a long time. When you're old you can do less of it.
2. Pick your financial battles. Take the vacation, don't buy more car than you need.
3. 3 fund portfolio, or thereabouts, and chill. It's both the easiest option and the smartest.
Good luck OP. My guess is you won't need it
1. Do something you love and that you can do for a long time. When you're old you can do less of it.
2. Pick your financial battles. Take the vacation, don't buy more car than you need.
3. 3 fund portfolio, or thereabouts, and chill. It's both the easiest option and the smartest.
Good luck OP. My guess is you won't need it
- Fri Mar 08, 2024 8:49 am
- Forum: Personal Investments
- Topic: 16 yr old - how can I best take on high risk?
- Replies: 65
- Views: 5233
- Thu Mar 07, 2024 12:27 pm
- Forum: Personal Finance (Not Investing)
- Topic: Mental health or Money: navigating the OMY question
- Replies: 48
- Views: 4796
Re: Mental health or Money: navigating the OMY question
Great question. $250k is a lot to me so experiences differ. I'd probably stay. But the mental and physical impact of burnout is very, very valid. Last week my former boss died unexpectedly in his fifties. As fiscally.... prudent as I can be I'm coming to grips with what's important, and it ain't work.
Is there a middle ground? Front run vacation, announce your plan to retire say 3-4 months out and coast out the door?
Good luck OP,
Is there a middle ground? Front run vacation, announce your plan to retire say 3-4 months out and coast out the door?
Good luck OP,
- Thu Mar 07, 2024 10:13 am
- Forum: Investing - Theory, News & General
- Topic: Argument against people that say stock market is rigged, so don’t invest in it
- Replies: 80
- Views: 5448
Re: Argument against people that say stock market is rigged, so don’t invest in it
My one thought - 'cause it was a fun question - that's a little accurate and perhaps a little appropriate -
"Insider trading and stock manipulation makes the entire stock market rigged in the same way that the Black Sox scandal makes all baseball games rigged and CCNY's point shaving makes all basketball scores rigged."
Good luck OP... you might need it
"Insider trading and stock manipulation makes the entire stock market rigged in the same way that the Black Sox scandal makes all baseball games rigged and CCNY's point shaving makes all basketball scores rigged."
Good luck OP... you might need it
- Tue Mar 05, 2024 12:31 pm
- Forum: Personal Finance (Not Investing)
- Topic: Mid-career change to law?
- Replies: 127
- Views: 11682
Re: Mid-career change to law?
You know there are part time law school programs at good schools, right? You can work FT and give that a shot. No blood no foul if you do not like it. This. Life is too short to not pursue your dream, but to me this balances the dream with the practical side of being a parent - and (my favorite) manages the downside. If you don't like it you're out a few bucks for a few night classes. No big. The other part that I love - law is one of those things where retirement doesn't have to be all or nothing. If you're doing what you love a future of doing it 10 hours a week later in life could be rewarding personally and very rewarding financially if you're reducing (or even completely delaying) decumulation while the market does it's thing. Good lu...
- Tue Mar 05, 2024 10:37 am
- Forum: Personal Finance (Not Investing)
- Topic: Payoff mortgage or maintain liquidity?
- Replies: 52
- Views: 3603
Re: Payoff mortgage or maintain liquidity?
Starting Jan 1 2026 - standard deduction would revert to pre-TCJA level, so roughly half of current level, and mortgage interest deduction amount would be allowed on up to $1M from current $750k cap. Also SALT deduction cap goes away. This is good to know. That "tax cut" was incredibly expensive for everyone in my neck of the woods. Me, I valued liquidity - to a point. Working in the corporate world I knew my job could disappear at any time (it has) and I wanted the house paid off and my portfolio fully funded when I retired. So between 2010 and about 2020 most extra money went into taxable until my portfolio hit about 80% of what I needed for retirement, and then I reversed the priority and accelerated the mortgage pay down. 401...
- Tue Mar 05, 2024 10:23 am
- Forum: Personal Finance (Not Investing)
- Topic: Let go from Megacorp at 42....can I retire?
- Replies: 90
- Views: 22209
Re: Let go from Megacorp at 42....can I retire?
what are some good medical plans in this situation comparable with typical megacorp medical plans? This is one of the worst parts...I'm still covered on company medical through July but looking at plans has amazed me. I'm looking at $20K per year for a basic health plan. How in the World do people afford this? You should be covered by Cobra for 18 months and then, assuming it's not repealed, ACA plans which we've found to be decent but expensive like all American healthcare. We were in a similar position but I got laid off older with one small one at home. I consult for a lot less than I used to make in my corporate days but it's more than enough to pay the bills and put a little away. The psychology of this is for my "prone to worry&...
- Tue Mar 05, 2024 10:10 am
- Forum: Personal Finance (Not Investing)
- Topic: Is it Time to Self-Insure? CA Homeowners Rate Increases
- Replies: 118
- Views: 8836
Re: Is it Time to Self-Insure? CA Homeowners Rate Increases
I think this is great advice. Higher deductible and possibly (possibly) lower amount OP? This may not be as applicable in your neck of the woods but where I am the house value is largely land. The rebuild cost is less than half of the value of the property itself so we insure (with a large cushion) the rebuild cost rather than total cost.toddthebod wrote: ↑Tue Mar 05, 2024 8:35 am
As far as actionable advice for OP, look into very high deductible options (like $50,000) before you give up on insurance altogether.
It's worth a call but USAA was only able to offer me auto insurance - we're a gold star family. It may differ by region but they were the cheapest option.
Me, I'd do what I could to keep at least some coverage. Good luck OP,
- Mon Mar 04, 2024 4:09 pm
- Forum: Investing - Theory, News & General
- Topic: Aggressive savers: Reduce stocks % the closer you are to your target numbers?
- Replies: 32
- Views: 3574
Re: Aggressive savers: Reduce stocks % the closer you are to your target numbers?
This makes a lot of sense.HootingSloth wrote: ↑Wed Mar 24, 2021 3:05 pm For what it is worth, I have been using a goal based asset allocation, which works for my personal situation. Early on, I started at 80/20. Once I reached halfway to my comfortable-but-not-all-wants goals, I began slowly gliding towards 60/40. If I get to that goal and retirement does not seem to be in sight, I will probably glide back up in the direction of 80/20.
As a got close to my minimum retirement number I dialed down risk. The market and somewhat steady consulting work has helped me overshoot my baseline by a decent (to me) amount. I'm comfortable dialing up the risk a little as a result. It's a bit of a barbell approach I guess.
- Mon Mar 04, 2024 3:38 pm
- Forum: Personal Finance (Not Investing)
- Topic: Does healthcare remain a significant concern for retirement before 65, even with a well-planned budget?
- Replies: 66
- Views: 6323
Re: Does healthcare remain a significant concern for retirement before 65, even with a well-planned budget?
1. From your experience, do you find that health insurance plans available through the ACA marketplace, such as a PPO gold plan, offer comparable coverage, accessibility, and acceptance rates to those typically provided by employers? 2. Have you encountered any concerns or real-life experiences that lead you to believe that ACA health insurance might pose a greater financial risk compared to employer-sponsored health insurance, potentially leading to reduced coverage or benefits that could strain finances or even result in bankruptcy? 1. Comparable. In our case I'd say slightly less acceptance but not worth losing sleep over. The pediatrician was one we were annoyed about but our new one was great. 2. Answering your question literally - no...
- Mon Mar 04, 2024 11:29 am
- Forum: Personal Finance (Not Investing)
- Topic: Financial coach as a side hustle?
- Replies: 22
- Views: 2213
Re: Financial coach as a side hustle?
I love this idea OP. The challenge as others have mentioned is that doing it right means doing it somewhat cheaply, so making a living being what I'd call an "ethical advisor" has got to be tough. The cost of acquisition would get high after a certain point and the profit per client low. This second one is kinda the point. That said, it could be a great side hustle if the bills are paid by other means. Help some people, do some good, make a couple of bucks. Quite a few headwinds and I know the target market skews towards AUM-driven fees and clients that want to say "my guy's beating the market" but I bet there's enough other people out there. A model with quarterly meetings, hourly fees and boglehead portfolios can be ma...
- Sat Mar 02, 2024 11:27 am
- Forum: Personal Investments
- Topic: A New Grad’s Factor-Based Portfolio Review
- Replies: 21
- Views: 1871
Re: A New Grad’s Factor-Based Portfolio Review
Welcome OP!
Your portfolio's too complicated for me. After 30 years in the asset management industry I know can't identify factors, stocks or sectors that will outperform, so I don't even try. It's just too expensive.
Good luck,
Your portfolio's too complicated for me. After 30 years in the asset management industry I know can't identify factors, stocks or sectors that will outperform, so I don't even try. It's just too expensive.
Good luck,
- Thu Feb 29, 2024 11:42 am
- Forum: Personal Consumer Issues
- Topic: Best & Worst "Mid-Life Crisis" expenditures
- Replies: 129
- Views: 24356
Re: Best & Worst "Mid-Life Crisis" expenditures
Fun things - learn to ride a motorbike and go coast to coast This was one of mine. I started at 30. I've done it 7 1/2 times now. It's a hard slog but I've seen some amazing things and met some wonderful people. Although my 50th birthday ride ended when I broke down in Jackson Mississippi. OP, try not to do that on an Italian motorcycle. Granted, it could have been worse. For my 40th I decided to buy myself a rolex. A rare splurge. I was 42 by the time I pulled the trigger. What can I say I'm a wee bit frugal. For my 60th it'll hopefully be a family trip. I have all the stuff I need I think... unless there's a Leica or Hasselblad I "need." My son will be nearly seven so ready for an adventure to Hawaii, Costa Rica or somewhere be...
- Thu Feb 29, 2024 10:27 am
- Forum: Personal Consumer Issues
- Topic: Neighbor Got Burglarized, How To Prevent
- Replies: 74
- Views: 8325
Re: Neighbor Got Burglarized, How To Prevent
Sorry to hear that.
We inherited a house in a rural area and we're there only every couple of months. We have several internal lights on timers and remote cameras front and back. The cameras have motion sensors and strategically get the driveway and almost all of the front yard so it would be tough to get in unseen. They're wifi and battery operated so the battery lasts a few months.
I'd love to have motion sensor lights on outside but the challenge is the local wildlife would set it off constantly.
We inherited a house in a rural area and we're there only every couple of months. We have several internal lights on timers and remote cameras front and back. The cameras have motion sensors and strategically get the driveway and almost all of the front yard so it would be tough to get in unseen. They're wifi and battery operated so the battery lasts a few months.
I'd love to have motion sensor lights on outside but the challenge is the local wildlife would set it off constantly.
- Tue Feb 27, 2024 8:18 pm
- Forum: Personal Consumer Issues
- Topic: What is your favorite book?
- Replies: 186
- Views: 19919
Re: What is your favorite book?
This brought back a fun memory. The author was a friend of a friend. One of her first signing events was at The Gate - a great pub a few blocks from me. She read a chapter or so and we all grilled her on how she learned all this fascinating stuff over a few pints. A long time ago now I guess. Thank you!
- Tue Feb 27, 2024 11:49 am
- Forum: Personal Consumer Issues
- Topic: Talk me out of buying a Nissan Armada!
- Replies: 29
- Views: 1937
Re: Talk me out of buying a Nissan Armada!
Agree.beardsicles wrote: ↑Tue Feb 27, 2024 11:14 am If you get a bigger car then the next person is going to need an even bigger car. It’s one of the most anti-social behaviors in modern American life leading to a car size arms race where pedestrians and cyclists just end up dead.
I've had the... I won't say pleasure of driving a large vehicle once in a while. If I owned one it would be a matter of time before I hit something. Because of the cab height an increasingly more frequent thing to hit is small children.
For safety I'd buy a Volvo or similarly rated normal sized vehicle.
- Tue Feb 27, 2024 9:54 am
- Forum: Personal Finance (Not Investing)
- Topic: What got you out of poverty?
- Replies: 111
- Views: 12845
Re: What got you out of poverty?
My mother's expectations.
She was poor growing up, widowed at 22. I was expected to do well at school, go to college and work hard. I was supported and encouraged, and punished when I was a bit of a rebellious teenager.
I've been completely independent since I was 18, didn't have a lot of guidance professionally but I've done well, worked hard - and been lucky.
She was poor growing up, widowed at 22. I was expected to do well at school, go to college and work hard. I was supported and encouraged, and punished when I was a bit of a rebellious teenager.
I've been completely independent since I was 18, didn't have a lot of guidance professionally but I've done well, worked hard - and been lucky.
- Mon Feb 26, 2024 12:25 pm
- Forum: Personal Finance (Not Investing)
- Topic: 24 year old- money problems
- Replies: 50
- Views: 6387
Re: 24 year old- money problems
Seconded!niagara_guy wrote: ↑Mon Feb 26, 2024 11:54 am I have made enough bone headed financial decisions to make your moves look like the work of a genius.
Most kids 24 are buying an expensive car with $800/month payments and spending money on other stupid stuff
You bought a slightly more expensive car than some people would, but probably has low maintenance costs. At your age OP I was in worse shape and heading in the wrong direction... rapidly.
I'd get a roommate if it were practical. See if your landlord will let you out of your lease without charges but if not I wouldn't worry too much. The debt's far from terrible and your current plan is sound.
- Mon Feb 26, 2024 10:23 am
- Forum: Personal Investments
- Topic: Importance of diversification with respect to market cap
- Replies: 7
- Views: 990
Re: Importance of diversification with respect to market cap
I don't. But I would never argue with someone that did so in a low-cost index fund.
I personally don't think it's a big deal either way. To me the S&P is a very good approximation of the market. A total stock fund is more accurate. Whether the difference makes a meaningful impact I couldn't say, but both are sound B-H investments to me.
I personally don't think it's a big deal either way. To me the S&P is a very good approximation of the market. A total stock fund is more accurate. Whether the difference makes a meaningful impact I couldn't say, but both are sound B-H investments to me.
- Wed Feb 21, 2024 8:05 pm
- Forum: Personal Finance (Not Investing)
- Topic: Realtor handling both sides
- Replies: 28
- Views: 2536
Re: Realtor handling both sides
This. At my current rate I’ll be buying a house in 2043 and both of my prior realtors will have definitely retired or perhaps slipped this mortal coil. When I work I want the cash-to-effort ratio working in my favor.billaster wrote: ↑Wed Feb 21, 2024 7:55 pmReally? I wonder how many people here have "long term relationships" with real estate agents? Sounds a bit creepy.Northern Flicker wrote: ↑Wed Feb 21, 2024 6:22 pmThat is just plain false. Some realtors are focused more on building a long-term relationship with a client.
- Tue Feb 20, 2024 11:39 am
- Forum: Personal Investments
- Topic: Has anyone invested in marijuana stocks?
- Replies: 92
- Views: 12456
Re: Has anyone invested in marijuana stocks?
No.
My standard “I don’t know which companies will benefit from this trend and to what degree that benefit’s already priced in” retort applies.
In this case I also don’t know to what degree the big tobacco firms will transition to this market and eat everybody’s lunch… munchies.
My standard “I don’t know which companies will benefit from this trend and to what degree that benefit’s already priced in” retort applies.
In this case I also don’t know to what degree the big tobacco firms will transition to this market and eat everybody’s lunch… munchies.
- Mon Feb 19, 2024 12:29 pm
- Forum: Personal Finance (Not Investing)
- Topic: 20-30X income, is that the "retirement rut"?
- Replies: 90
- Views: 13496
Re: 20-30X income, is that the "retirement rut"?
Totally get it OP. You bust your butt for a month to save a few thousand bucks (well done those that do!) but the market action makes the sacrifice seem pointless. Yes, some people enjoy their work, others deal with a lot of angst and stress for money that no longer moves the retirement needle anywhere near as much is it used to - I try to look at it not as a percentage or multiple, but as an absolute. Eg. when I saved $20k a year that could have been 25% of the young me's portfolio. Today it's thankfully less. It does impact my motivation BUT I look at that $20k example and say "that's money that I'm not withdrawing and will be a family trip to Paris in a couple of years." My secret to managing mid-career woes was focusing on one...
- Fri Feb 16, 2024 9:08 am
- Forum: Personal Consumer Issues
- Topic: Any recommendation of a book that chronicles the downward spiral of an ordinary person
- Replies: 102
- Views: 9199
Re: Any recommendation of a book that chronicles the downward spiral of an ordinary person
YES! My tenant was a line producer on the movie so I watched it. Really well done... which is why I will never watch it again.
Along the same lines, American Psycho technically fits the description of downward spiral, but as with The Road, not for everyone.
Bonfire of the Vanities by Tom Wolfe.
An alternate take - fits the "hardship" criteria and a powerful story - Nomadland by Jessica Bruner. The movie was really well doe I thought.
- Fri Feb 16, 2024 9:00 am
- Forum: Investing - Theory, News & General
- Topic: 90/10 stocks/bonds vs 100% stocks?
- Replies: 44
- Views: 5611
Re: 90/10 stocks/bonds vs 100% stocks?
1. It seems like a lot of work.
2. Timing the market, even with your small bond allocation, is likely to leave you behind after all that work. As others have said, the opportunity cost of money waiting for the dip is likely to be expensive over the long run.
Granted, these days cash and such are yielding 5%ish so "dry powder" is working for market timers more than it has been, but if it were me I'd stick with my 90-10, rebalance annually and not worry about what the market's doing. I'm neither smart enough nor diligent enough to time the market.
2. Timing the market, even with your small bond allocation, is likely to leave you behind after all that work. As others have said, the opportunity cost of money waiting for the dip is likely to be expensive over the long run.
Granted, these days cash and such are yielding 5%ish so "dry powder" is working for market timers more than it has been, but if it were me I'd stick with my 90-10, rebalance annually and not worry about what the market's doing. I'm neither smart enough nor diligent enough to time the market.