Search found 1569 matches

by EnjoyIt
Wed Oct 17, 2018 4:15 pm
Forum: Investing - Theory, News & General
Topic: Rich, Broke or Dead: Visualizing probabilities of outcomes in early retirement
Replies: 107
Views: 12038

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

Not projecting this onto you personally but this argument from 'The Millionaire Next Door' (never read it, don't intend to, I rely on your characterization) gives a whiff to me of rationalizing not giving away money. Many of the millionaires held out as good examples in The Millionaire Next Door ar...
by EnjoyIt
Tue Oct 16, 2018 11:49 am
Forum: Investing - Theory, News & General
Topic: Rich, Broke or Dead: Visualizing probabilities of outcomes in early retirement
Replies: 107
Views: 12038

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

Money makes a lot more of a difference early on in life. Helping my kids with their college education and having the resources to start a family (home, etc.) is a lot more beneficial to them than giving them money when they're middle aged. In particular, if you look at HCOL areas, it's extremely ha...
by EnjoyIt
Mon Oct 15, 2018 7:53 pm
Forum: Investing - Theory, News & General
Topic: Rich, Broke or Dead: Visualizing probabilities of outcomes in early retirement
Replies: 107
Views: 12038

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

It seems like WHEN you give money to your children matters alot in the concerns that some people have about reducing their motivation. If as teenagers they know that they will receive money, that is very different from getting money later in life after they have become hopefully self-sufficient. Ho...
by EnjoyIt
Mon Oct 15, 2018 7:47 pm
Forum: Personal Consumer Issues
Topic: Boglehead's Car Talk
Replies: 35
Views: 3246

Re: Boglehead's Car Talk

Perhaps that's how they became millionaires. :mrgreen: I did the math a few years back about the difference between buying a new fancy car every 3 years for him and her vs holding unto a not so fancy cars for 10 years. Taking that cash and investing it over 30 years comes out to about $750k in toda...
by EnjoyIt
Mon Oct 15, 2018 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Kids and Money
Replies: 38
Views: 1734

Re: Kids and Money

If you are fortunate enough to have an upscale lifestyle and don't want your kids to think that it is as effortless and automatic as the sunrise, then you will need to show them - once they are older, not as babies! - that it is the result of effort. The best way to do this is to involve them in th...
by EnjoyIt
Mon Oct 15, 2018 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Kids and Money
Replies: 38
Views: 1734

Re: Kids and Money

It is well known now through research and common sense that the children of the rich will do far better in life than the rest. Without actually giving them cash or a house or something, you will be spending money in ways that are meant to ensure their relatively higher standard of living in adultho...
by EnjoyIt
Mon Oct 15, 2018 3:00 pm
Forum: Personal Consumer Issues
Topic: Boglehead's Car Talk
Replies: 35
Views: 3246

Re: Boglehead's Car Talk

Life is too short to drive boring cars. Oh, I dunno. Lots of millionaires drive boring cars like Honda Accords and Toyota Camrys. ;) Perhaps that's how they became millionaires. :mrgreen: I did the math a few years back about the difference between buying a new fancy car every 3 years for him and h...
by EnjoyIt
Mon Oct 15, 2018 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Kids and Money
Replies: 38
Views: 1734

Re: Kids and Money

It is well known now through research and common sense that the children of the rich will do far better in life than the rest. Without actually giving them cash or a house or something, you will be spending money in ways that are meant to ensure their relatively higher standard of living in adultho...
by EnjoyIt
Mon Oct 15, 2018 2:26 pm
Forum: Personal Consumer Issues
Topic: Boglehead's Car Talk
Replies: 35
Views: 3246

Re: Boglehead's Car Talk

Life is too short to drive boring cars. Oh, I dunno. Lots of millionaires drive boring cars like Honda Accords and Toyota Camrys. ;) Perhaps that's how they became millionaires. :mrgreen: I did the math a few years back about the difference between buying a new fancy car every 3 years for him and h...
by EnjoyIt
Sun Oct 14, 2018 5:04 pm
Forum: Personal Consumer Issues
Topic: $34k Volt vs $54k Model 3?--help me decide??
Replies: 65
Views: 6193

Re: $34k Volt vs $54k Model 3?--help me decide??

There is a huge cult following for Tesla that refuses to hear or accept anything bad about the vehicle. I am also thrilled how Tesla has pushed the market for electric cars but I refuse to be an early adopter of such expensive tech. $45k-55k is way too much unnecessary risk. My current German car is...
by EnjoyIt
Sun Oct 14, 2018 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing?
Replies: 103
Views: 9551

Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Amateur poker player. I am pretty sure I can make some decent cash playing part time a few days a week. I can make a few thousand a year churning credit cards, bank accounts and investment accounts. I can make a little extra cash in those high yield checking accounts that have strict requirements. ...
by EnjoyIt
Sun Oct 14, 2018 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing?
Replies: 103
Views: 9551

Re: “$1000/month job is worth $300k in retirement funds” // What are some retirement jobs you would actually enjoy doing

Amateur poker player. I am pretty sure I can make some decent cash playing part time a few days a week. I can make a few thousand a year churning credit cards, bank accounts and investment accounts. I can make a little extra cash in those high yield checking accounts that have strict requirements. I...
by EnjoyIt
Thu Oct 11, 2018 3:24 am
Forum: Investing - Help with Personal Investments
Topic: What did you buy today
Replies: 108
Views: 7478

Re: What did you buy today

I went part time today and bought myself time.
by EnjoyIt
Tue Oct 09, 2018 2:21 am
Forum: Investing - Help with Personal Investments
Topic: Evaluate net worth - FIRE really that close?
Replies: 56
Views: 7627

Re: Evaluate net worth - FIRE really that close?

Ron Scott, I feel a little bad for you with regards to your financial insecurity. It’s sad to think that your only answer is to work more. I guess if working is the best thing in your life then congrats on having that ideal job. For the rest of us, we will take all the data we have and make a decisi...
by EnjoyIt
Tue Oct 09, 2018 1:42 am
Forum: Personal Finance (Not Investing)
Topic: Talk me out of buying a Tesla Model 3
Replies: 190
Views: 10420

Re: Talk me out of buying a Tesla Model 3

I am a car guy. I love cars and enjoy taking them to the track. I get the desire for speed but think jumping into a $75K car is adding significant lifestyle creep on one of the worst expenses that can affect wealth building. $75k is half a year’s salary. More if you consider taxes. Follow your previ...
by EnjoyIt
Mon Oct 08, 2018 10:28 am
Forum: Personal Consumer Issues
Topic: What purchase saved you the most money?
Replies: 136
Views: 12614

Re: What purchase saved you the most money?

Things that saved you money but cost your labor seem to come up a lot - i.e. washing your own car, mowing your own lawn, etc. Why do people tend not to value their labor? There are pros and cons on doing your own labor. Doing something yourself provides a certain level of satisfaction and happiness...
by EnjoyIt
Sun Oct 07, 2018 10:47 am
Forum: Personal Consumer Issues
Topic: What purchase saved you the most money?
Replies: 136
Views: 12614

Re: What purchase saved you the most money?

I'm going to be contrarian here. Things that saved you money but cost your labor seem to come up a lot - i.e. washing your own car, mowing your own lawn, etc. Why do people tend not to value their labor? Things that saved you money but aren't really comparable - i.e. buying a Honda over a BMW. Peop...
by EnjoyIt
Fri Oct 05, 2018 12:32 pm
Forum: Investing - Theory, News & General
Topic: Key differences between investing philosophies: Swedroe vs. Bogle
Replies: 144
Views: 7604

Re: Key differences between investing philosophies: Swedroe vs. Bogle

I am a simple man and clueless about investing. For me to stay the course the plan must be simple to follow. I need a general idea of what I am doing, why I am doing it, and how to do it. For me the 3 fund approach makes sense, easy to follow and does not require additional input from a paid advisor...
by EnjoyIt
Fri Oct 05, 2018 11:56 am
Forum: Personal Consumer Issues
Topic: What purchase saved you the most money?
Replies: 136
Views: 12614

Re: What purchase saved you the most money?

I can't think of a single purchase that saved us money. I can think of plenty of purchases that kept us from spending more money and can list those. Reliable car that can be driven for 10+ years well researched household items that may cost a bit more now but last longer and over the coarse of years...
by EnjoyIt
Fri Oct 05, 2018 11:13 am
Forum: Investing - Theory, News & General
Topic: Rich, Broke or Dead: Visualizing probabilities of outcomes in early retirement
Replies: 107
Views: 12038

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

There are a couple of good comments above regarding leaving wealth to heirs. As I mentioned before, creating some assistance like helping pay for college seams like a no brainer if one can afford it. But leaving behind even $1 million to an adult child can make or break them depending on who they ar...
by EnjoyIt
Thu Oct 04, 2018 9:47 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 7377
Views: 1548227

Re: U.S. stocks in freefall

Doom&Gloom wrote:
Thu Oct 04, 2018 9:44 pm
EnjoyIt wrote:
Thu Oct 04, 2018 9:37 pm
My precious US stocks in freewill thread is back. I get nervous when I do not see it coming to the top of my list.
May be the wrong thread :)
Nice catch. I will edit that.
Thanks
by EnjoyIt
Thu Oct 04, 2018 9:46 pm
Forum: Investing - Theory, News & General
Topic: Rich, Broke or Dead: Visualizing probabilities of outcomes in early retirement
Replies: 107
Views: 12038

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

One certainly wants to find a balance of enjoying the one journey we get in life, while also saving for goals in retirement and or passing on to heirs. I love what you wrote above regarding all the fun things you have done so far in your life. Thanks for sharing. May I ask you, why do we want to pa...
by EnjoyIt
Thu Oct 04, 2018 9:37 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 7377
Views: 1548227

Re: U.S. stocks in freefall

My precious US stocks in freefall thread is back. I get nervous when I do not see it coming to the top of my list.
by EnjoyIt
Wed Oct 03, 2018 11:10 pm
Forum: Investing - Theory, News & General
Topic: Rich, Broke or Dead: Visualizing probabilities of outcomes in early retirement
Replies: 107
Views: 12038

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

Would rather expand on this graph (more options). I’m sure most of us at bogleheads have a better life expectancy probability (have access to healthcare, finances to get checked out, etc) I’m am not aware of anyone related to me who died in their 70s but the probability I’m seeing would make me fee...
by EnjoyIt
Wed Oct 03, 2018 10:53 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Be Prepared For Losses
Replies: 100
Views: 12041

Re: Larry Swedroe: Be Prepared For Losses

A) Keep 3 months to 6 months of emergency fund. B) Keep the AA at 70/30. Do not go beyond 70% for stock allocation. Even if a young person wanted to be as conservative as you say they should, they could alternatively build an emergency fund of one year's expenses and be 100% stock with the remainde...
by EnjoyIt
Tue Oct 02, 2018 11:24 pm
Forum: Investing - Theory, News & General
Topic: Rich, Broke or Dead: Visualizing probabilities of outcomes in early retirement
Replies: 107
Views: 12038

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

Thanks for posting this tool. I like how it shows the probability of death right up there as part of the possible portfolio outcomes. Seeing the "grey wedge" of death grow and grow exponentially to where it becomes the final (and only) outcome--that sure is sobering. It puts things in their proper ...
by EnjoyIt
Mon Oct 01, 2018 10:33 pm
Forum: Investing - Theory, News & General
Topic: Rich, Broke or Dead: Visualizing probabilities of outcomes in early retirement
Replies: 107
Views: 12038

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

Yes this is exactly it. How much are you comfortable spending down because once you shut down the money making engine of your career, it is not always easy to restart it. There's that but also a fear of switching at all from accumulation to distribution. After spending decades growing and attending...
by EnjoyIt
Sun Sep 30, 2018 11:30 pm
Forum: Investing - Theory, News & General
Topic: Rich, Broke or Dead: Visualizing probabilities of outcomes in early retirement
Replies: 107
Views: 12038

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

JackoC, I get it. I really do. I get the fear that this time is different. The math makes it so compelling. Maybe the answer is to buy an annuity and risk a little more in equities. Maybe it is being ready and able to spend just a little bit less if the markets are not favorable. I would be okay wit...
by EnjoyIt
Sun Sep 30, 2018 5:03 pm
Forum: Investing - Theory, News & General
Topic: Rich, Broke or Dead: Visualizing probabilities of outcomes in early retirement
Replies: 107
Views: 12038

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

Could we estimate lower expected future returns by simply increasing the "Investment Fees" field by the amount that expected returns will be lower going forward? If returns used to be about 8.7% historically at a 60/40 portfolio after inflation, returns of 2% less would be 23% worse than what we ha...
by EnjoyIt
Sun Sep 30, 2018 2:20 pm
Forum: Investing - Theory, News & General
Topic: Rich, Broke or Dead: Visualizing probabilities of outcomes in early retirement
Replies: 107
Views: 12038

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

Could we estimate lower expected future returns by simply increasing the "Investment Fees" field by the amount that expected returns will be lower going forward? Plugged in OP's numbers: Again but with 2% investment fees, adjusting for 2 percentage point decrease in expected return going forward: h...
by EnjoyIt
Sun Sep 30, 2018 2:17 pm
Forum: Investing - Theory, News & General
Topic: Rich, Broke or Dead: Visualizing probabilities of outcomes in early retirement
Replies: 107
Views: 12038

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

But, fear of not having enough is a very strong feeling very difficult to break. Yes this is exactly it. How much are you comfortable spending down because once you shut down the money making engine of your career, it is not always easy to restart it. I that really true? Is the ability to make mone...
by EnjoyIt
Sat Sep 29, 2018 8:24 pm
Forum: Investing - Theory, News & General
Topic: Rich, Broke or Dead: Visualizing probabilities of outcomes in early retirement
Replies: 107
Views: 12038

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

The above is why I find this simulator interesting. Here’s my situation: 54 years old, wife is 52. We have about 10x income saved, probably around 14x expenses, with a legit shot at the 25x goal by 65. That said, I also have a pension, and with social security, will probably be able to cover most i...
by EnjoyIt
Fri Sep 28, 2018 4:07 pm
Forum: Investing - Theory, News & General
Topic: Rich, Broke or Dead: Visualizing probabilities of outcomes in early retirement
Replies: 107
Views: 12038

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

Bogglers, This is a really nice interactive website that uses the same data as cFIREsim, tracking historical periods from 1871 to 2016 to run through each scenario with inflation adjusted spending and then calculates the probability of success or failure, but adds, the probability of death from soci...
by EnjoyIt
Mon Sep 24, 2018 9:30 am
Forum: Investing - Theory, News & General
Topic: Regrets / Pearls
Replies: 37
Views: 6871

Re: Regrets / Pearls

Regret: We bought too much house for us which has delayed Financial Independence by a few years as well as added unnecessary stress because more house equals more stuff to fill it, more maintenance, more cleaning, and simply more things can go wrong. Pearl: You only live once and your time is worth ...
by EnjoyIt
Fri Sep 21, 2018 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Can I really retire? Please check my math and poke holes.
Replies: 48
Views: 5829

Re: Can I really retire? Please check my math and poke holes.

.. We'll still have DW's pension of about $328k/month My projected SS at 70 is about $3300/month Hang tight to your wife, you got the best one on BH with $328k/month pension ! Many be happy to dig a mere 5k-10k/month spousal pension and be dandy! A $328k/month is serious coin! Shoot me, leave off t...
by EnjoyIt
Thu Sep 20, 2018 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Physical Banking - Any benefits anymore?
Replies: 139
Views: 8727

Re: Physical Banking - Any benefits anymore?

I use chase. I put $250k in VTI a long time ago and became a private client. With that option I get a free safety despot box, free atm withdrawals and a special someone to call me once every 6 months to make sure everything is OK. I use chase because they are huge and all over the world so that if I...
by EnjoyIt
Mon Sep 17, 2018 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life vs Universal Life Insurance
Replies: 30
Views: 1730

Re: Whole Life vs Universal Life Insurance

I am 29, and want to start a life insurance policy. I am attracted to the permanent plans, as they can actually pay back. I am trying to decided if I should go with whole life or Universal. From reading it seems like whole life usually offers some good dividens that can be reinvested, but universal...
by EnjoyIt
Mon Sep 17, 2018 1:16 pm
Forum: Investing - Help with Personal Investments
Topic: Thinking of Retiring at 52, Please Critique Plan
Replies: 42
Views: 5872

Re: Thinking of Retiring at 52, Please Critique Plan

Financially you are in great shape and have more money than you need. Here is my advice: 1) Yes, I think you plan to do SEPP withdrawals is a great one. You will have $24k standard deduction and will only have to pay taxes on $16k worth of withdrawals. At 10% that is $1,600/yr. 2) One thing I would ...
by EnjoyIt
Sat Sep 15, 2018 4:11 pm
Forum: Investing - Help with Personal Investments
Topic: Lower Return Decade Says Jack: Thoughts?
Replies: 81
Views: 6747

Re: Lower Return Decade Says Jack: Thoughts?

If 4% withdrawal rates have worked in the past when retiring in some of the worst times in history Which times do you have in mind ? In my opinion the worst time for a retiree would be when interest rates are at an historical low and stocks valuations at very high levels (consequently, I may add). ...
by EnjoyIt
Sat Sep 15, 2018 4:03 pm
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: 11447

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

The realization that you just don't need more and more money to be happier is a blessing. It simplifies life and buys you options. You are one of the privileged few who have realized it at a young age and pushed your way towards financial freedom. I watch my colleagues playing politics, buying new s...
by EnjoyIt
Fri Sep 14, 2018 5:58 pm
Forum: Investing - Help with Personal Investments
Topic: Lower Return Decade Says Jack: Thoughts?
Replies: 81
Views: 6747

Re: Lower Return Decade Says Jack: Thoughts?

You're commenting on my post using Firecalc-math? My post speaks to the need for someone looking at 30 years in retirement to work for an additional 10 years to build a nest egg that would put his spend at the traditional 4% level but at 0% real. The answer is 5 years, not 10. When confronted with ...
by EnjoyIt
Fri Sep 14, 2018 5:44 pm
Forum: Personal Consumer Issues
Topic: O% APR for new iPhone Xs / is there a catch?
Replies: 8
Views: 784

Re: O% APR for new iPhone Xs / is there a catch?

So, $1000 at 0% APR you are looking to arbitrage it and make what $60. Just pay cash using a 2% cash back card and move on with life.
by EnjoyIt
Fri Sep 14, 2018 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Laid Off, Considering Multiple Options - Which Would You Recommend?
Replies: 39
Views: 5462

Re: Laid Off, Considering Multiple Options - Which Would You Recommend?

EnjoyIt, student: Really interesting calculations and points on the early retirement scenario. Definitely something to think about. For now, though, I intend to keep working for the next 7-10 years at least, and then maybe transition to part-time once the kids are done with college and hopefully ou...
by EnjoyIt
Thu Sep 13, 2018 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Laid Off, Considering Multiple Options - Which Would You Recommend?
Replies: 39
Views: 5462

Re: Laid Off, Considering Multiple Options - Which Would You Recommend?

At $40k per year income some of which will not be IRA funds and therefor not all will be taxable brings this family of 4 below 400% poverty and therefor qualifies for ACA subsidies.
by EnjoyIt
Thu Sep 13, 2018 1:03 pm
Forum: Investing - Help with Personal Investments
Topic: Lower Return Decade Says Jack: Thoughts?
Replies: 81
Views: 6747

Re: Lower Return Decade Says Jack: Thoughts?

Just read Jack Bogle's book (edited in 2017) and was a little discouraged about his comments that we should all expect lower returns in the next decade. For a 60/40 balanced fund it could be as low as 6% and even 4% in some circumstances. Am I misreading? Because if not, Id rather be in CDs and tak...
by EnjoyIt
Thu Sep 13, 2018 3:20 am
Forum: Personal Finance (Not Investing)
Topic: Laid Off, Considering Multiple Options - Which Would You Recommend?
Replies: 39
Views: 5462

Re: Laid Off, Considering Multiple Options - Which Would You Recommend?

It sounds like you could even retire. May require you to move to LCOL area or cheaper housing in the same area. Even your kids education is all set. He can’t retire, half his assets are effectively “locked” up, after taxes and penalties it would be even less. I’d start the job search now. Pursue al...
by EnjoyIt
Thu Sep 13, 2018 12:55 am
Forum: Personal Finance (Not Investing)
Topic: Anyone else not save for cars?
Replies: 113
Views: 10254

Re: Anyone else not save for cars?

Same as some other posters. We keep a 6 month Emergency fund in cash. last time we needed a car we used that and $5k on a credit card. We replenished the emergency fund shortly thereafter. We will likely do the same thing the next time we need another car though willing to take on financing and then...
by EnjoyIt
Sun Sep 09, 2018 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: I think my father has a gambling problem
Replies: 78
Views: 6822

Re: I think my father has a gambling problem

Agree. Poker is the last game I would recommend. I disagree. Poker is the only game in the house that a player can have a real edge because the player is not playing against the house but against other players. it is also not that hard to be profitable in poker if one understands the math and learn...
by EnjoyIt
Sun Sep 09, 2018 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Sole Proprietor LLC quarterly estimated tax payment
Replies: 11
Views: 619

Re: Sole Proprietor LLC quarterly estimated tax payment

Since you are an LLC can I assume you are incorporated and have a tax ID for the company? From the first sentence of the OP. Hello, this is going to be my first quarterly estimated federal tax payment for a single member llc (treated as disregarded entity- sole proprietor) . I really should read be...