Bogleheads.org

My standard answer would be the question can’t be answered without knowing what the $10 millionaire expenses are. :happy Say $200,000 plus taxes. Maybe $250,000 to $275,000 total. Lets say somebody has 10M and needs 250K/yr from the portfolio. Lets assume that that this is a 30 yr retirement. Lets further assume that 3% is a safe withdrawal rate (conservative). Then 250K x33.3= 8330K should be invested conservatively. Say 25% stock and 75% bonds. ( 2080 K stocks and 6250 K bonds) The balance 1670K can be invested in anyway one wants. Lets say that this is saved in 100% stocks for the next generation. Then final ratio = 3750 in stocks to 6250 K in bonds. Or in other words approximately 40:60 stocks: bonds ratio. Thus 10M and stop playing to...

66, single, annual salary of $80,000, after taxes $60,000 Projected SS benefit at 70 is $2600 ~ $50,000 in investments below. These are with her best friends son in law. He doesn’t charge her any fees. I’m sure he could put money into whatever funds she wants. DFAPX 8,367 ER .19 (Looks to be some sort of fixed income fund) DFGEX 2,639 ER .22 (Global Real Estate) DFIEX 9809 ER .24 (International fund) DFCEX 3717 ER .4 (Emerging markets) VIMAX 4,699 ER .05 (Mid cap admiral) VSMAX 6,987 ER .05 (small cap admiral) VTSAX 19,151 ER .05 (total stock admiral) ~ $60,000 in company profit share. ~ $25,000 cash savings in low yield account. I have her switching this to HYSA now. She says she is adding $600 to this account every month. Expenses $1200 ...

I live in rural northern Wisconsin with snow on the ground for 5 months of the year. I do not own an EV. Many of my friends have Teslas. For most it is a 3rd car and for some a 4th car. 3 to 5 hour trips to nearby cities with airports are a necessity for us irrespective of the weather. One friend had significant anxiety on one occasion when his car was stuck on the road due to an accident where it took an hour for the police to clear the road and he could not go forward or backward and had to cut back on heating to conserve energy. There are few charging stations nearby. Whereas all of my friends like to use the Teslas for in town driving in good weather they all want the reassurance of an ICE car when needed. This includes long distance dr...

I live in rural Wisconsin and very commonly see the Honda pioneer like vehicles on most farms when we go strawberry picking or apple picking. ( see pictures upthread) I see that the cost is 17K.

For an EV what is the equivalent of AAA bringing a gallon of gas to you because you ran out of gas.

When you sell your 2 acre lots advertise them as :
"with excellent cell phone coverage"

aboose wrote: ↑Wed Mar 22, 2023 3:58 am Amazon? Costco? Costco online? Somewhere else?

Sorry, to be more specific, assuming the prices are similar across the retailers, which one has the best "policies" for protection and stuff for buying electronics like TVs?

If ignoring price (willing to pay a higher price) then:
A family owned business (preferably multigenerational, preferably with only one or two stores) in your area.

Such a business in my area charges 10 to 20% higher than internet sites. But delivery / service is far better than the internet options. ( No 4 hour delivery windows)
Over the last 30 years as I transitioned from repair to a replace mentality I have transitioned more towards Costco.

duplicate

2
2nd as backup

slippinsurlies wrote: ↑Mon Mar 20, 2023 1:02 am
I have it in my mind that it would be a good idea for her to get her own credit card.
Yes

She wouldn’t actually use the card for anything except 1 or 2 transactions a year just to keep the line active.
Recommend you put one or 2 monthly bills on it.

Many years ago I had an excellent credit score. Then I left the country for 2 years for an overseas assignment.
On the second or third day of my return the phone company denied me a $300 flip phone as my credit score was not good enough. I deposited $1000 with them and bought the phone for cash. After 1 yr my credit score was again excellent and they refunded me my money.

This is a cold evening in the upper midwest. My house and water is heated by natural gas. We cook with natural gas. At this hour energy use is: 20 LED bulbs of 10 to 15 W each .........................= 300 Watt. Lets say the compressors on both refrigerators are on = 80 W One computer and one monitor is on ...................= 100 W One TV/soundbar is on.....................................=120 W Misc...........................................................= 400 W Total .........................................................= 1000 W (1 kWatt) The electric heaters in each bathroom are off. The clothes drier, dishwasher, electric mini oven, toaster, food processor, air frier, iron are all off. I have used about 12 cents of electricity in...

prd1982 wrote: ↑Mon Mar 20, 2023 8:08 pm How do you hold $2m in cash and not earn interest?

Options include:
Keep it under your pillow.
Keep paper money in a bank locker.
My local CU has a zero interest checking account.

I have an old friend who has been sitting on $2m in cash for 3 years. His religion forbids earning interest so it is earning zero. :( He is in an ideal Shariah compliant situation. Why mess with it. Would the recommendation to hold cash and donate the $100 generated in interest to charity be shariah-compliant? He should not need you or this board to advice him about this. He should be able to decide himself. What about structured products? I just saw something that generates 7% yield so long as the underlying SP500 index is over 30% of initial value. Principal is protected up to 40% drawdown. Would this be considered shariah-compliant? Based on my experience of working and living in a Persian gulf country where the state sponsored religion...

An 86 yr old woman has annual income (SS + pension) of 33K and assets of 400K. Lets say she elects a withdrawal rate of 10% of her assets each year (an acceptable WR at her age)
Total available for spending per year assuming death at 96 yr = >73K. Looks like she is spending much less than what she can afford.
The question then simply is how she converts the house into spending money. ( Sell, reverse mortgage)

davebo wrote: ↑Wed Mar 01, 2023 2:18 pm I checked the balance today and we have roughly $232K in total saved for the 3 kids.

My oldest is very smart, will do all honors/AP in HS, very diligent.

He may end up in medical school and can easily consume all of that 232K. ( if you wish to fund it all)

I just want to point out:
A lower denial rate will benefit current Medicare recipients.
A higher denial rate is likely to benefit future Medicare recipients. (More money left for them in Medicare coffers)

Thanks to everybody for the excellent info. 40+ years ago I have extensively used canvas tents. I have lived in them for 10+ days in areas of the world where it rains more than 400 inches (1000 cm) per year. As long as you have a 6 to 12 inch trench all around the tent and another trench leading the water away you can sleep in them through the nite. (The trench also keeps snakes out of your tent) During my young adulthood I have used canvas tents in the Arabian desert. I agree that canvas is far more effective in a haboob (sand storm). I have attended some functions in large party tents in the desert (10 feet tall, 30 feet diameter). These are always made of thick canvas and look very strong. Currently I am soliciting recommendations for a ...

Springbar makes a great tent. They have sizing guides on their website. What size you need is subjective, largely depending on whether you are planning to live in the tent (and thus need free space for chairs and other camp furniture), or just want a place to cram in cots and sleeping bags. Springbar came out with a new tent this winter -- it's quite large and can be used with a wood stove for winter camping. Springbar tents are orders of magnitude easier to setup than traditional wall tents. Check out their videos. Kodiak canvas sells similar tents for less money, but they are made in China. I've used many different types of tents over the years. As I've gotten older, I'm more interested in things like standing room, quality, and durabili...

Please give me recommendations for a good quality long lasting canvas tent preferably made in USA. This is for car camping. It will mostly be used by two people with two camp cots. Occasionally will need to fit upto 4 adults in 4 sleeping bags on the floor. I think a 10 x 10 size will be adequate. Budget: upto $1500. I will be camping in northern Wisconsin in the fall. I do not camp when there is snow on the ground. Thanks.

I am considering something like this. (sprinbar traveller)
https://springbar.com/pages/traveler-lp

( I already have the usual kind of thin plastic light weight tent)

One option would be to provide Medicare for 25 years. Those who start it at 65 can have it till 90.
Bogleheads can then start a thread on "Postponing Medicare till 70"

I found the minivan very useful to move kids to and from college dorm. I do not own a truck.

speaksoftly wrote: ↑Tue Feb 21, 2023 8:24 pm i
[*] Monthly housing expenses: 12K in mortgage, property tax, insurance. (39% of net income, or 26% of gross)

[*] At current expense levels, this would push our savings rate from ~9K/mo to ~5K/mo, around 10% of gross, which is far too low for an early-40s couple, vs a target ideal savings rate of 20-30%.

Just wanted to point out that part of the mortgage payment is savings.

Remuneration for clinical psychologists can range from 120 to 160K /yr ( midwest region data). PhD required.

I define our income as: W2 salary for both of us + 401K contributions from our employers + 457 F contribution from employers. ( My employer does not pay anything towards our HSA.) I do not include the approx 14 K that my employer pays towards our health insurance as income. For retirement planning purposes I do not include the dividends and interest from taxable accounts as income (The IRS of course does). I define retirement savings as: Employer portion of 401K and 457 F Our portion of 401K Our backdoor Roths Our HSA contributions (we pay out of pocket for our healthcare) I bond purchases at Treasury Direct Taxable account savings. ( Vanguard and Fidelity) Retirement savings %age = Retirement savings/ Income. Our average annual retirement ...

I bought a Lexus RX 450 h in summer 2022. ( 3rd row in it was useless). Got it at MSRP+300
My second choice was Toyota highlander platinum.
Third choice: Kia Telluride at MSRP +5000

After reviewing all the excellent recommendations I have decided to buy this. ( Milwaukee tools corded 12 amp sawzall $140)

https://www.homedepot.com/p/Milwaukee-1 ... 78#overlay

I dont think I need the fancier/ stronger version from Milwaukee tools and I do not want to save $50 by buying the same thing from a lower quality manufacturer. ( Ryobi is $90)

andypanda wrote: ↑Tue Feb 14, 2023 7:32 am Another blade that works well for pruning and clean demolition:

12 in. 3 TPI Diablo Demon Carbide Reciprocating Saw Blade for Pruning and Clean Wood Cutting

They were $10 at Home Depot, etc. Now they're $12-something.

_____________

And if you ever want to cut up a cast iron bathtub or frying pan, they make a 9" diamond grit blade for $22, or 3 for $55.

Thanks for the info. This is all new stuff for me.

Watty wrote: ↑Tue Feb 14, 2023 12:55 am I agree with the Sawzall type saw.

The problem with the cordless options are that the battery likely will not work at some point maybe 5+ years from now. If you do not have a lot of other tools that you are regularly using it can be frustrating to find out that a battery is bad or you need to charge it when you want to use it. Leaving a battery plugged in a battery charger year round is hard on the battery and wastes a lot of energy.

Good info. I am considering the wire/ plug in version also now.

Do you actually have 10 inch branches to cut, or is that a hypothetical? Hypothetical. 60% will be below 4" and 90% below 6" I would not choose a reciprocating saw to regularly cut stuff that large, although it should work in a pinch as long as you're patient. Keep in mind that between the stroke length and the distance from the chuck to the shoe, the effective cutting length of a reciprocating saw is about 2 inches shorter than the blade length. But if you do want a cordless reciprocating saw, and you already have any 18V cordless tools, I would generally stick with the brand you have. If you don't already have other cordless tools and don't want to compromise, Milwaukee arguably makes the best reciprocating saws out there. They...

Changed my mind. I will get a sawzall instead. ( Safety, no need to sharpen, no oiling)

Is this Milwaukee sawzall good ($249). Are other Milwaukee tools good if I decide to add more in the future.
https://www.homedepot.com/p/Milwaukee-M ... 04#overlay

I will also need a battery charger which is $69

Instead the same battery charger and impact driver is $99. https://www.homedepot.com/p/Milwaukee-M ... /305529329

nalor511 wrote: ↑Sun Feb 12, 2023 7:00 pm I like reciprocating saw (sawzall) much better than chainsaw. Safer. Can use one handed. Easy

I like easy. But what is the typical blade length.
Can it cut 8 or 10 inch thick branches. The blades I saw on the internet looked much smaller. Thanks.

I need recommendations for a relatively small battery operated sawzall. I used my neighbor's 14 inch corded chain saw last year and it speeded thing over my prior manual means. This years snow storms have downed a few branches in my yard which I will need to clean up in spring. I do not anticipate cutting anything more than 10 inches thick ever. I anticipate about a 1 hour use/year. (Not interested in renting.) Based on data provided below I am going for a battery operated sawzall due to safety, lack of need of oiling and sharpening. I will accept it even if it will be somewhat slower than a chain saw. https://www.homedepot.com/p/Milwaukee-M18-18V-Lithium-Ion-Cordless-SAWZALL-Reciprocating-Saw-with-Two-3-0Ah-Batteries-2621-20-48-11-1837/319...

BogleMelon wrote: ↑Mon Feb 06, 2023 9:05 am After reading through the posts on this forum, I can't help but feel like I may be the only one in my mid-40s with a relatively modest net worth of less than $400,000 (and income of a bit less than $130K).
If you're in a similar situation, I'd love to hear from you and know that I am not alone!

Almost all specialist physicians and many primary care physicians are late bloomers. Its not unusual for 35 yr old physicians to have a negative net worth. Most are doing very well by 55 to 60 yrs of age.

tnf wrote: ↑Sat Feb 11, 2023 6:06 pm

I am interested in reliability and safety features in a sedan or a compact SUV. Would you share any useful websites, or any articles or magazines I could review? Are Consumer Reports Car recommendations and reviews still a gold standard? Yes

The cars have been good, if a bit boring. I would love to follow my past playbook

If I was looking for reliable and boring vehicles I would consider the following manufacturers:
Toyota/ Lexus
Subaru
Honda.

I have been very satisfied with my last 3 vehicles: Lexus RX 450h, Lexus LS 460 and Toyota Avalon.

Watty wrote: ↑Thu Feb 02, 2023 1:40 pm
I am not 100% sure but some doctors may let you stay with them on Medicare but not be accepting new Medicare patients on COBRA until she can start Medicare.

[/quote]

Doctors keeping existing patients when they go on Medicare but not taking new patients on Medicare (or soon to be Medicare) is a fairly common situation.

Congrats. Well thought out. I cant find any significant holes here.

Non government 457 B funds are exposed to the creditors of the employer in case of bankruptcy of the employer. As such most employees take the money fairy soon after retirement.
My employers options are:
-All at one time upon retirement. (Can result in a large tax burden)
-In 5 equal installments over 4 yrs. (first one right after retirement) ( I believe it is 1/5 balance, 1/4 balance etc each yr)
-In 10 equal installments over 9 years.

As such your wife's request is probably very unusual and the average employee at the HR office or fidelity may not know the right answers and is likely to make mistakes now or in the future.

nisiprius wrote: ↑Tue Dec 20, 2022 9:18 pm
Investor's Business Daily

Analysts think 10 stocks in the S&P 500, including Dish Network (DISH), Tesla (TSLA) and Amazon.com (AMZN), will gain 60% or more in the next 12 months.

So, that's a legitimate prediction, with a numeric criterion and a specific time frame.

I offered them a million dollar loan for 1 year at 30% interest. I dont understand why they declined it.

If the difference between the 2 plans was < 0.5% of my net worth I would take the costlier plan.

If it was 5% I would take the cheaper plan.

Lets say you make 1 million pretax, 650 k post tax, spend 150K and save 500K.
My recommendation would be to spend more.

Somebody making a third of your income (333k pretax, 250k post tax) can certainly spend 200 K and save 50 K (20%) without being irresponsible.

If you are looking for some peers who have had change in financial circumstances such as yours your are more likely to find them amongst the foreign medical graduates at your hospital.

Valuethinker wrote: ↑Sun Feb 05, 2023 4:17 pm Probably the evident gap between rich and poor in India has grown a lot in the last 30 years.

Yes.
I worked there for a few years more than 2 decades ago and visited for 2 weeks last year.
I would say that the rich have got 4 to 8 times richer and the poor have gotten 2 times richer.
https://data.worldbank.org/indicator/NY ... cations=IN

I think that the association between affluence and happiness is less strong in eastern cultures.

India's neighbor Bhutan has the happiness index.
https://www.gnhcentrebhutan.org/gnh-hap ... indicators.

Yes.

Otherwise down the road you have to get advice from this thread.viewtopic.php?t=396112

300k House, 50k left on the mortgage (5% interest rate)
200k in savings
75k in IRA savings
1,750 per month for social security

Her expenses:

Equal approximately 2,300 per month.

400 a month of that is a car payment, which will kick out in 3 years or less if she is no longer able to drive.

Assets: 275 K.
Pay off 50 K mortgage and 14 K car loan.
Remaining assets: 211K.

Monthly expenses after car payment: 1900.
SS......................................... : 1750
Shortfall.................................. 150/mo or 1800/yr ( a 1% return on the assets of 211K will cover it)

Reliable free source: Pubmed. You will need to spend a fair amount of personal time. It will be upto you to decide what part is appropriate for you. Low cost reliable medical advice source: None that I know of. High cost reliable medical advice geared toward your personal situation: an MD/DO Occasionally you will find Edward Jones version of MDs or other licensed medical providers who ostensibly provide advice at a low cost. Inevitably they will try to sell you supplements or recommend labs of dubious value done a a specific "specialty" lab of their choice. These tests will typically not be covered by medical insurance. Question for OP (and others): What hourly rate are you hoping to pay for reliable medical advice geared toward y...

You already have 55000 in a "taxable" account. You can use it for anything including retirement.

Yo do not need any additional taxable account savings.

So invest in tax deferred accounts and save on taxes.

You need a different tax advisor.

My Tumi and Brigs and Riley checked bags have taken the abuse fairly well.

Ependytis wrote: ↑Wed Jan 18, 2023 11:18 am Interesting question. If you assume a 7.2% return then your money will double every 10 years (rule of 72). If you need 25 times your expenses to retire at 65 (Trinity study), then if you coast at 55 you need 12.5 times your expenses and if you coast at 45 you need 6.25 times your expenses and if you coast at 35 you need 3.125 times your expenses. Please challenge me on this, if anyone thinks differently.

I will challenge you on that assumption.

This thread is now 8 months old.
OP: Were you able to get another opinion with which you were satisfied?

Wannaretireearly wrote: ↑Sat Jan 14, 2023 10:08 am Two factors imo:

1. I would consider it ok at 20X (real X, not just non-discreactionary)
I think I’ve noticed the portfolio moving more than what I make. What’s that term called?

2. I would consider it after mid-40s

I am essentially at both of these landmarks. However, the next/real challenge is finding part time/rewarding work. Part time time for me would be between 1pm and 4pm for 5 days of the week. Perhaps. Covering all my non-discretionary cost. Where/what is this job?

I know a radiologist who lives in Hawaii and reads X rays for a Chicago area hospital from 5 pm to 9 pm for 5 days a week. It is 1 pm to 5 pm his time.