Search found 2713 matches

by flyingaway
Mon Jul 13, 2020 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Becoming teacher after reaching FIRE? Advice needed!
Replies: 72
Views: 4588

Re: Becoming teacher after reaching FIRE? Advice needed!

I would suggest that the OP keeps her $400k job and befriends some real teachers. She might find that there are lots of real teachers who want to switch to jobs paying about a fraction of her salary.
by flyingaway
Mon Jul 13, 2020 10:34 am
Forum: Investing - Theory, News & General
Topic: 4% rule - confidence poll
Replies: 343
Views: 19407

Re: 4% rule - confidence poll

"Curious why you sold. You often make it sound like the only reason anyone would stop working is because they hate their job. I am assuming you did not hate running your business, yet you sold It?" After about 15 years in business It was time to sell, time to move states, and time to not work at al...
by flyingaway
Mon Jul 13, 2020 9:41 am
Forum: Investing - Theory, News & General
Topic: Why is the stock market up? [thread multi-merge]
Replies: 518
Views: 18876

Re: How is this possible -- stock market continues to soar.

More money was borrowed, few products were produced. So the money has to go somewhere.
by flyingaway
Sun Jul 12, 2020 4:12 pm
Forum: Personal Consumer Issues
Topic: What are the large uninsured expenses in retirement?
Replies: 69
Views: 3990

Re: What are the large uninsured expenses in retirement?

"a new expensive hobby you become passionate about. traveling to visit sick friends/family. getting into a trouble such as taking up gambling or getting into day trading. becoming an alcoholic. getting swindled." Heck, those are nothing, I retired on my 62nd birthday and got married when I was 68. ...
by flyingaway
Sun Jul 12, 2020 11:49 am
Forum: Personal Consumer Issues
Topic: What are the large uninsured expenses in retirement?
Replies: 69
Views: 3990

Re: What are the large uninsured expenses in retirement?

a new expensive hobby you become passionate about. traveling to visit sick friends/family. getting into a trouble such as taking up gambling or getting into day trading. becoming an alcoholic. getting swindled. I am aware of these hobbies. I am trying to allocate some money for regular local casino...
by flyingaway
Sun Jul 12, 2020 11:09 am
Forum: Personal Consumer Issues
Topic: What are the large uninsured expenses in retirement?
Replies: 69
Views: 3990

Re: What are the large uninsured expenses in retirement?

Kid or grand kid weddings. My youngest daughter's wedding was $20k. My son's was $6k. Uninsured cancer treatments. Some advanced chemo stuff is experimental and not covered by medicare or suppliments. Dog or cat medical costs. Not much for me but neice has spent $$thousands on dog cancer chemo and ...
by flyingaway
Sun Jul 12, 2020 11:07 am
Forum: Personal Consumer Issues
Topic: What are the large uninsured expenses in retirement?
Replies: 69
Views: 3990

Re: What are the large uninsured expenses in retirement?

As someone well into retirement, I would definitely say that the concerns for medical care increase. Not routine medical care even though that increases for many as we age, even with supplements, Medicare, etc., but potential care for dementia. For example, we are not concerned that we are experien...
by flyingaway
Sun Jul 12, 2020 10:57 am
Forum: Personal Consumer Issues
Topic: What are the large uninsured expenses in retirement?
Replies: 69
Views: 3990

Re: What are the large uninsured expenses in retirement?

In my experience watching my grandparents and parents enter old age, the eventual need for nursing home care is a much larger issue than things like a roof repair. A roof is $10K to $20K once, and nursing homes are $10K every month. I won't rehash all of the pros and cons of long term care insuranc...
by flyingaway
Sun Jul 12, 2020 10:55 am
Forum: Personal Consumer Issues
Topic: What are the large uninsured expenses in retirement?
Replies: 69
Views: 3990

Re: What are the large uninsured expenses in retirement?

Hockey10 wrote:
Sun Jul 12, 2020 10:41 am
Sandtrap wrote:
Sun Jul 12, 2020 8:43 am
5. Dental costs can be huge with age.
don't forget to include the cost of tipping the dental hygienist :shock:
Are you serious about this? I have never done it.
by flyingaway
Sun Jul 12, 2020 10:46 am
Forum: Personal Consumer Issues
Topic: What are the large uninsured expenses in retirement?
Replies: 69
Views: 3990

Re: What are the large uninsured expenses in retirement?

I thought about this and came to conclusion that most expenses are actually “recurring” if you’ve been tracking annual expenses long enough. This includes roof, HVAC, anything on property,cars. The big unknowns are unexpected health due to age that haven’t reached yet. Maybe wedding. Bailing out ki...
by flyingaway
Sun Jul 12, 2020 10:41 am
Forum: Personal Consumer Issues
Topic: What are the large uninsured expenses in retirement?
Replies: 69
Views: 3990

Re: What are the large uninsured expenses in retirement?

On the home ownership side we've had some stiff expenses over the past 5 years. Replaced windows $11k Replaced retaining wall and part of driveway $25k Replaced roof $14k Replaced hvac (x2) $8k Replaced deck and added screened in porch $38k Sometimes I feel as if we're getting into George Washingto...
by flyingaway
Fri Jul 10, 2020 3:42 pm
Forum: Personal Consumer Issues
Topic: What are the large uninsured expenses in retirement?
Replies: 69
Views: 3990

Re: What are the large uninsured expenses in retirement?

Concerning #3 a car doesn't have to cost $40k. Of course you can spend that and much more on a luxury new car, but you can also spend much less than that for a nice used car. So it is the difference between a want and a need. A good car will probably cost more than $50k, which will last for 15 ~ 15...
by flyingaway
Fri Jul 10, 2020 3:40 pm
Forum: Personal Consumer Issues
Topic: What are the large uninsured expenses in retirement?
Replies: 69
Views: 3990

Re: What are the large uninsured expenses in retirement?

If you intend to travel in retirement, you will need to decide whether to insure trips that involve a large layout of money for interruption/cancellation and medical incidents that could occur when you are out of the country. So far I have been insuring my trips, but I have not yet had a need to us...
by flyingaway
Fri Jul 10, 2020 3:35 pm
Forum: Personal Consumer Issues
Topic: What are the large uninsured expenses in retirement?
Replies: 69
Views: 3990

Re: What are the large uninsured expenses in retirement?

If you intend to travel in retirement, you will need to decide whether to insure trips that involve a large layout of money for interruption/cancellation and medical incidents that could occur when you are out of the country. So far I have been insuring my trips, but I have not yet had a need to us...
by flyingaway
Fri Jul 10, 2020 3:32 pm
Forum: Personal Consumer Issues
Topic: What are the large uninsured expenses in retirement?
Replies: 69
Views: 3990

Re: What are the large uninsured expenses in retirement?

Concerning #3 a car doesn't have to cost $40k. Of course you can spend that and much more on a luxury new car, but you can also spend much less than that for a nice used car. So it is the difference between a want and a need. A good car will probably cost more than $50k, which will last for 15 ~ 15...
by flyingaway
Fri Jul 10, 2020 12:47 pm
Forum: Personal Consumer Issues
Topic: What are the large uninsured expenses in retirement?
Replies: 69
Views: 3990

What are the large uninsured expenses in retirement?

In order to prepare for the possible surprises in retirement, I am interested in knowing some of the largest expenses in retirement that are not covered by normal insurances? I will list a few that I am thinking about. (1) Roof replacement ($10K?) (2) HVAC replacement ($10K?) (3) Care replacement ($...
by flyingaway
Fri Jul 10, 2020 11:20 am
Forum: Investing - Theory, News & General
Topic: 4% rule - confidence poll
Replies: 343
Views: 19407

Re: 4% rule - confidence poll

LiveSimple wrote:
Fri Jul 10, 2020 5:26 am
4% is very comfortable it will survive, actually even 6% will work, but our needs will be 2 - 3%
Did you mean you worked too long?
by flyingaway
Fri Jul 10, 2020 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security: is the wisdom still relevant
Replies: 124
Views: 8226

Re: Delaying Social Security: is the wisdom still relevant

If you have retired and are financially independent without the social security, it is probably better to delay it as a longevity insurance. If you are not yet retired, working for an additional month will probably (dependent upon your salary) give your more money than the differences between claimi...
by flyingaway
Fri Jul 03, 2020 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with all this MONEY ?
Replies: 201
Views: 20742

Re: What to do with all this MONEY ?

Why not retire NOW and spend more time with your family members.?
by flyingaway
Thu Jul 02, 2020 9:09 am
Forum: Investing - Theory, News & General
Topic: 4% rule - confidence poll
Replies: 343
Views: 19407

Re: 4% rule - confidence poll

Without the 4% rule, you don't know how much is enough. The 4% rule tells you that a certain number is probably the one that you should achieve first. For that purpose, I think the 4% rule is very useful and I personally use it to declare (and enjoy) financial independence. If my job were miserable,...
by flyingaway
Mon Jun 29, 2020 9:02 am
Forum: Personal Investments
Topic: Am I Headed for a Retirement Tax Bomb?
Replies: 66
Views: 9400

Re: Am I Headed for a Retirement Tax Bomb?

Vow. this is serious thing to reconsider 401 contributions then!!. I've had people disagree with me (in a different post) when I recommended someone young, in a lower bracket, put their money in a Roth. They recommended a tIRA or t401K. But your future income growth, and what you "think" will happe...
by flyingaway
Mon Jun 29, 2020 8:26 am
Forum: Personal Investments
Topic: I am ready to pull the plug! am I ready ?
Replies: 27
Views: 4968

Re: I am ready to pull the plug! am I ready ?

Pension/ deferred compensation ; $75,000 gross for the next 5 years after retirement. 2025 and beyond $72,000 - Pension $26800 My SS $ 25800/ year , Spouse SS -$20,000/year (we may delay this as i will be only 62, spouse will be 65) Will you receive $75,000 per year for the next 5 years and $72,000...
by flyingaway
Sat Jun 27, 2020 6:16 pm
Forum: Personal Investments
Topic: 1.2 Million Not Enough
Replies: 17
Views: 4398

Re: 1.2 Million Not Enough

If I made $1M a year, sure $5M would not be enough for a retirement portfolio. I would like to have $20M to feel comfortably safe.
by flyingaway
Tue Jun 23, 2020 10:08 am
Forum: Investing - Theory, News & General
Topic: 4% Rule and annuities
Replies: 35
Views: 2627

Re: 4% Rule and annuities

The 4% rule is usually the worst prediction, so in most cases, you will come out much better than that. The annuity is usually the best prediction, you cannot come out better than the annuity contract. Note that an insurance company can also go burst. So there could be worse situation than the annui...
by flyingaway
Sat Jun 20, 2020 4:34 pm
Forum: Personal Investments
Topic: where do I go from here?
Replies: 11
Views: 857

Re: where do I go from here?

I find that casinos are good place to spend surplus money and get relaxed.
by flyingaway
Sat Jun 20, 2020 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Tactic to Induce Myself to Keep Working
Replies: 31
Views: 3843

Re: Tactic to Induce Myself to Keep Working

Thank you so much for all the thoughtful responses. My question was not artfully stated: I had intended to ask the relatively narrow question of whether what I am proposing -- to put surplus from continued work into a special fund rather than the general pot -- is kosher from a financial perspectiv...
by flyingaway
Sat Jun 20, 2020 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Pandemic Updates: Retire this summer, with early retirement program, or work another academic year and a half
Replies: 40
Views: 4591

Re: Pandemic Updates: Retire this summer, with early retirement program, or work another academic year and a half

There is very low risk of job loss, always a possibility but extremely low likelihood. More likely would be a change in the retiree health benefit and I can't really gauge that risk. Budget pressure on all universities is high. Thanks for the feedback! I would retire this summer if I were you. The ...
by flyingaway
Thu Jun 11, 2020 9:09 am
Forum: Personal Finance (Not Investing)
Topic: How to think about money earned during semi-retirement
Replies: 26
Views: 2366

Re: How to think about money earned during semi-retirement

OP, I am almost 56 and semi-retired. Here are some of the thoughts that I have for this kind of situations. This is after achieving financial independence and all are based on the 4% rule. In addition to enhancing the safety of my portfolio, (1) If I save an additional $100,000, I do not need to dow...
by flyingaway
Thu Jun 04, 2020 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Having an agreement with your children?
Replies: 28
Views: 1709

Having an agreement with your children?

If seems obvious that when you die with some money, your children will inherent the money (and other things). However, it is not obvious that if you run out of money before you die, you can count on your children to provide support for your final years. Would it be a good idea to have an agreement (...
by flyingaway
Thu Jun 04, 2020 12:24 pm
Forum: Personal Consumer Issues
Topic: Picking a VPN -- 2019
Replies: 29
Views: 4695

Re: Picking a VPN -- 2019

I have a VPN from my employer. If I connect the VPN to my employer's account, do I get VPNed when I connect to other accounts at the same time?
by flyingaway
Fri May 29, 2020 9:54 am
Forum: Personal Finance (Not Investing)
Topic: College in fall
Replies: 541
Views: 45102

Re: College in fall

Here is a report from Japan: (https://www.japantimes.co.jp/news/2020/05/28/national/science-health/fewer-deaths-coronavirus/#.XtEhYUBFxjo) "The number of deaths across the nation fell in the first three months of 2020 despite the novel coronavirus, according to data issued by the health ministry, ad...
by flyingaway
Fri May 29, 2020 9:50 am
Forum: Personal Finance (Not Investing)
Topic: College in fall
Replies: 541
Views: 45102

Re: College in fall

Between 1 million and 5 million? Seems a little extreme. It depends greatly on how many people have actually been exposed already. The number of confirmed cases is about 1.76 million with 103k fatalities. If the actual number of cases is about triple that at 5 million, and about 300 million need ex...
by flyingaway
Tue May 26, 2020 1:21 pm
Forum: Personal Consumer Issues
Topic: Cross country road trip from MA to Glacier NP and Yellowstone NP
Replies: 45
Views: 2364

Re: Cross country road trip from MA to Glacier NP and Yellowstone NP

2) Yellowstone (five full days), because Yellowstone, though wonderful, was crowded, stressful, and involved so much driving around within the park. More than once we had to go past an attraction and come back to it because the parking lot was full. A lot of the geothermal stuff involves boardwalks...
by flyingaway
Tue May 26, 2020 12:59 pm
Forum: Personal Consumer Issues
Topic: Cross country road trip from MA to Glacier NP and Yellowstone NP
Replies: 45
Views: 2364

Re: Cross country road trip from MA to Glacier NP and Yellowstone NP

Only if you don't mind answering: How old are you? What is your chances of fighting over a virus infection, compared to the general population? We are considering to drive to the Arches National Park and other national parks from east in June or July. I am assessing our chances of getting infected i...
by flyingaway
Sun May 24, 2020 10:17 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 370
Views: 31355

Re: The axe falls and I am prepared. What's next?

If I were in your shoes, I would not want to work for cheap, but I am also afraid of losing opportunities by not looking for a job. That is probably your feeling. You don't need any advices, you just want some validation, I guess. Maybe, they will inform you next week that your job is not in jeopard...
by flyingaway
Wed May 20, 2020 3:15 pm
Forum: Personal Consumer Issues
Topic: What is your most luxury/expensive hobby.
Replies: 264
Views: 20308

Re: What is your most luxury/expensive hobby.

Casino trips, once a week. I answered this in early February. My last trip to my favorite casino was on March 13. I want back there on March 15 and it was closed. I cannot wait for it to reopen soon. I am very curious about how the casino experience is going to change when they re-open, especially ...
by flyingaway
Wed May 20, 2020 11:00 am
Forum: Personal Consumer Issues
Topic: What is your most luxury/expensive hobby.
Replies: 264
Views: 20308

Re: What is your most luxury/expensive hobby.

flyingaway wrote:
Mon Feb 10, 2020 11:14 pm
Casino trips, once a week.
I answered this in early February. My last trip to my favorite casino was on March 13. I want back there on March 15 and it was closed. I cannot wait for it to reopen soon.
by flyingaway
Wed May 20, 2020 10:52 am
Forum: Personal Consumer Issues
Topic: Choices of and precautions at hotels in this summer
Replies: 52
Views: 3109

Re: Choices of and precautions at hotels in this summer

I would absolutely have to have an outside direct entrance. I think passing people in cramped hallways or even walking through just after them is much more exposure than anything else you do. I also like the outside wall heat/ac unit idea mentioned previously. Check in with your phone or a mask on,...
by flyingaway
Wed May 20, 2020 10:49 am
Forum: Personal Finance (Not Investing)
Topic: College in fall
Replies: 541
Views: 45102

Re: College in fall

I guess, with the opening of all 50 states to some extend, by late August, we may have around 30% of the population, hopefully larger percentage in students, to have immunity. If that is true, future infection will be slowed to some acceptable levels. The transmission may be stopped with about 60%~7...
by flyingaway
Wed May 20, 2020 10:37 am
Forum: Personal Finance (Not Investing)
Topic: Financial Considerations: Marriage in your 50s/60s
Replies: 23
Views: 1895

Re: Financial Considerations: Marriage in your 50s/60s

Prenup and separate your finances as much as possible. Make sure there's an acceptable plan for the adult children in terms of inheritance. It's a perfectly reasonable request. Rather than endless arguments about each other's spending habits, letting the big spender spend "their" money and the save...
by flyingaway
Tue May 19, 2020 9:45 am
Forum: Personal Finance (Not Investing)
Topic: College in fall
Replies: 541
Views: 45102

Re: College in fall

The August 10-Thanksgiving schedule with no fall break seems to be trending right now. I hope it is successful as I live in one of the college towns. It is my understanding that some of University scientists here are working on developing a system of testing returning students. At this point, I bel...
by flyingaway
Tue May 19, 2020 9:40 am
Forum: Personal Finance (Not Investing)
Topic: College in fall
Replies: 541
Views: 45102

Re: College in fall

If they’re reducing the amount of instruction, they should reduce tuition, fees, and dorm costs by the same percentage. Otherwise, why wouldn’t a student choose a gap year? I don't know how many students really want to learn many things. A diploma (degree) is what they want, in order to find a job.
by flyingaway
Tue May 19, 2020 9:38 am
Forum: Personal Finance (Not Investing)
Topic: College in fall
Replies: 541
Views: 45102

Re: College in fall

https://www.nytimes.com/2020/05/18/us/notre-dame-reopening-coronavirus.html It looks like Norte Dame is opening up for fall on August 10 for the fall semester, they are moving the start date up two weeks in order to finish the semester by thanksgiving. This seems a little short sided on decision ma...
by flyingaway
Mon May 18, 2020 12:57 pm
Forum: Personal Consumer Issues
Topic: Choices of and precautions at hotels in this summer
Replies: 52
Views: 3109

Re: Choices of and precautions at hotels in this summer

From what I have been reading, hotels are not cleaning during your stay, something called "grab n go " for breakfast now, and some are using self check in. I am going to skip hotels for a while and just go camping instead. I am just curious, is it legal to camp on a beach, or at a rest area along t...
by flyingaway
Mon May 18, 2020 12:36 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 6628
Views: 557835

Re: U.S. stocks continue to soar!

However, history tells us that money printing and endless, cheap credit cannot go on forever. Some day the bills/debt will have to be paid Actually, history might more suggest that money printing and endless, cheap credit can go on forever and we might never have to "pay the bills." If that is the ...
by flyingaway
Mon May 18, 2020 12:33 pm
Forum: Personal Consumer Issues
Topic: Choices of and precautions at hotels in this summer
Replies: 52
Views: 3109

Re: Choices of and precautions at hotels in this summer

adamthesmythe wrote:
Mon May 18, 2020 11:16 am

I have seen a suggestion to bring your own pillow. If I were feeling particularly paranoid I might bring my own sheets or a sleeping bag.
I will bring my own towels, maybe bed sheets also.
by flyingaway
Mon May 18, 2020 12:30 pm
Forum: Personal Consumer Issues
Topic: Choices of and precautions at hotels in this summer
Replies: 52
Views: 3109

Re: Choices of and precautions at hotels in this summer

stan1 wrote:
Mon May 18, 2020 11:54 am
If you really wanted to be cautious I suppose you could pay for the room for a few extra days before you arrive. Sort of like buying the middle seat next to you on an airplane so it won't be occuplied.
I guess you still have to check in to keep your hotel rooms.
by flyingaway
Mon May 18, 2020 11:08 am
Forum: Personal Consumer Issues
Topic: Choices of and precautions at hotels in this summer
Replies: 52
Views: 3109

Choices of and precautions at hotels in this summer

This thread is NOT about whether we should travel or stay at hotels this summer. Assuming that we want to do that. What are the hotels of your preferences and what are the precautions that you would recommend to take at the hotels? I will start with some of my thinks. (1) I would prefer middle level...
by flyingaway
Sat May 16, 2020 11:47 am
Forum: Personal Consumer Issues
Topic: WFW (Work from Wherever)
Replies: 70
Views: 6472

Re: WFW (Work from Wherever)

Does work from home means that you have to really work from home, not from a resort hotel? I'm counting on this not being the case. :) If we actually get to go on our trip later this year, we're debating going on Saturday afternoon rather than Wednesday evening as we originally planned, and working...
by flyingaway
Thu May 14, 2020 5:29 pm
Forum: Personal Consumer Issues
Topic: Anyone booking flights for 2021 travel?
Replies: 68
Views: 5464

Re: Anyone booking flights for 2021 travel?

I wonder how expensive the tickets will be if you really remove the middle seats.