Search found 2410 matches

by flyingaway
Mon Oct 14, 2019 10:27 am
Forum: Personal Consumer Issues
Topic: How much do you spend on clothing?
Replies: 38
Views: 2251

Re: How much do you spend on clothing?

Zero for me. I get whatever my son no longer wants.
by flyingaway
Fri Oct 11, 2019 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6124

Re: What are the essential and discretionary expenses in a retirement budget?

… This may be a topic of another thread, but I will ask anyway. If you withdraw a certain amount W from your portfolio at the beginning of the year (according to your rule), and you do not spend all the money W at the end of the year, what do you do with the leftover (surplus) money? To my mind it ...
by flyingaway
Fri Oct 11, 2019 9:23 am
Forum: Personal Finance (Not Investing)
Topic: What are your personal experiences with downside of early retirement?
Replies: 95
Views: 17112

Re: What are your personal experiences with downside of early retirement?

The downside is all your friends are working. I have a friend who retired early to take care of her disabled son. She has a vegetable garden and sends vegetables to every friends almost every one or two weeks for free. She invites people to play cards at her house every weekend. So she is not workin...
by flyingaway
Fri Oct 11, 2019 8:36 am
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6124

Re: What are the essential and discretionary expenses in a retirement budget?

I'll share my own variant on this. It might be simpler just to use VPW, but I prefer some simple guardrails to overly precise calculations in the messy real world. It's helped by the fact that we "over-saved" by conventional standards (I enjoyed my work) and that we don't have expensive tastes in s...
by flyingaway
Thu Oct 10, 2019 3:17 pm
Forum: Investing - Theory, News & General
Topic: If Charles Schwab et al. drop commissions to zero, can we build our own index funds?
Replies: 41
Views: 3770

Re: If Charles Schwab et al. drop commissions to zero, can we build our own index funds?

If I were you, I would build a "smart" index fund by removing those obvious bad companies.
If you are successful, you could start your own hedge fund.
by flyingaway
Thu Oct 10, 2019 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6124

Re: What are the essential and discretionary expenses in a retirement budget?

I am having some trouble in determining what are the essential and discretionary expenses in a retirement budget. ... snip ... (P.S. I would like my fixed income and social security part to cover my essential expenses). Having recently gone through the same exercise, here are my thoughts. Food, wat...
by flyingaway
Thu Oct 10, 2019 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6124

Re: What are the essential and discretionary expenses in a retirement budget?

As per your comment, OP is asking for a classification system with the mindfulness of cutting expenses if one ever needs to. .... Even though I am an aggressive investor and am not a huge SPIA fan, if our essential spending weren't covered by anticipated SS benefits by age 70, I would strongly cons...
by flyingaway
Thu Oct 10, 2019 8:30 am
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6124

Re: What are the essential and discretionary expenses in a retirement budget?

To me essential means, expenses that you must pay every month/year without turning your whole world upside down. I agree with you, a house may not be something very easy to just sell off during a downturn which makes your property tax essential. You can definitely defer some minor maintenance on th...
by flyingaway
Wed Oct 09, 2019 4:17 pm
Forum: Personal Consumer Issues
Topic: Do you carry your passport with you during international travel?
Replies: 105
Views: 7787

Re: Do you carry your passport with you during international travel?

I usually leave my passport in hotel safes, but carry a picture of it with my phone.
However, a few years ago, I tried to use my credit card to buy a subway ticket in Paris (or somewhere else in Europe) and I was asked to show my real passport, not the photocopy.
by flyingaway
Wed Oct 09, 2019 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6124

Re: What are the essential and discretionary expenses in a retirement budget?

Once you own a house, you may be stuck with its costs far longer than you hoped or planned. Yes, you can move to a LCOL, downsize, live in a yurt. However, until you actually sell the former home, you have its expenses. You can just walk away from the house. Give it back to the bank (deed in lieu o...
by flyingaway
Tue Oct 08, 2019 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6124

Re: What are the essential and discretionary expenses in a retirement budget?

My problem is that I do not have a huge buffer to withstand a huge downturn without affecting the quality of my lifestyle. The reality is that for most people, if they have enough money to build a liability-matching portfolio, they also have enough money to not build a liability-matching portfolio ...
by flyingaway
Tue Oct 08, 2019 9:56 pm
Forum: Personal Consumer Issues
Topic: Find my phone -- easy way to find it when lost in the house?
Replies: 38
Views: 2460

Re: Find my phone -- easy way to find it when lost in the house?

I just set up my Samsung Phone with the Find My Mobile account and tested it. It worked with the Ring function. A few weeks ago, my silent phone was lost at the side of the car driver seat. It took me quite some time to find it, after exhausting all other possible locations.

Thanks for the tips.
by flyingaway
Tue Oct 08, 2019 8:19 am
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6124

Re: What are the essential and discretionary expenses in a retirement budget?

Virtually none of the things you list are "essential", as you yourself note. They are just "wants". There is no black & white when it comes to spending. Sure, we all need a place to live. But living in that house in that neighborhood, which costs $10,000 a year, isn't "essential" in any normal sens...
by flyingaway
Tue Oct 08, 2019 8:12 am
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6124

Re: What are the essential and discretionary expenses in a retirement budget?

Virtually none of the things you list are "essential", as you yourself note. They are just "wants". There is no black & white when it comes to spending. Sure, we all need a place to live. But living in that house in that neighborhood, which costs $10,000 a year, isn't "essential" in any normal sens...
by flyingaway
Tue Oct 08, 2019 8:09 am
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6124

Re: What are the essential and discretionary expenses in a retirement budget?

I asked a similar question on the Forum a few weeks ago. My question was prompted by an investment review with TRowe advisor on whether I would outlast my savings in retirement. I was guessing that 25% of my expenses are discretionary, but I've yet to confirm it. One response I found helpful on thi...
by flyingaway
Mon Oct 07, 2019 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6124

Re: What are the essential and discretionary expenses in a retirement budget?

Details matter: Golf -- The Old Course? club membership? twice a year at Clayton Municipal? Theater -- West End? Broadway? community theater season? Clayton Jr High? Concert -- NY Philharmonic? Ryman Auditorium? Clayton HS band? Sports -- Super Bowl? Alma Mater homecoming? Clayton Little League? Di...
by flyingaway
Mon Oct 07, 2019 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6124

Re: What are the essential and discretionary expenses in a retirement budget?

KlangFool wrote:
Mon Oct 07, 2019 7:03 pm
OP,

How do you pay 12K in income taxes with 80K of expenses (including the taxes)?

KlangFool
I said this is just a hypothetical retirement budget. Because I want I round number $80,000.
by flyingaway
Mon Oct 07, 2019 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6124

Re: What are the essential and discretionary expenses in a retirement budget?

Everything on your list looks like it has a discretionary element to me. As you mentioned housing could be reduced by downsizing, which could also reduce house maintenance and utilities. Even without downsizing, I have drastically reduced my electric usage with various conservation measures. One ca...
by flyingaway
Mon Oct 07, 2019 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6124

Re: What are the essential and discretionary expenses in a retirement budget?

At first I thought these projections were for a single. But I see OP references the pronoun "we" in several places, so now I have to assume this is a couple :?: $8,500 a year for "groceries, gasoline and clothes" works out to $708 a month. Even if you spend only $100 of that on gas for the car, and...
by flyingaway
Mon Oct 07, 2019 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: What are the essential and discretionary expenses in a retirement budget?
Replies: 110
Views: 6124

What are the essential and discretionary expenses in a retirement budget?

I am having some trouble in determining what are the essential and discretionary expenses in a retirement budget. I understand that the discretionary expenses are the ones that you could cut if your financial situation becomes bleak. To facilitate discussions, here is a hypothetical annual retiremen...
by flyingaway
Sun Oct 06, 2019 5:53 pm
Forum: Personal Consumer Issues
Topic: replacing Smoke Detectors (not just batteries)
Replies: 30
Views: 1803

Re: replacing Smoke Detectors (not just batteries)

Is it easy to replaced hardwired smoke detectors yourself?
by flyingaway
Fri Oct 04, 2019 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: What is your plan for the last few years of a long life?
Replies: 230
Views: 15242

Re: What is your plan for the last few years of a long life?

Then die in my sleep before any ailments get me. Same for the spouse. My understanding is it is fairly well established that dying in your sleep is not the pleasant sort of affair most think it is. Talk to you doctor about it. What it usually means is the person wakes up fully aware the are dying b...
by flyingaway
Fri Oct 04, 2019 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Bank canceling credit cards??
Replies: 29
Views: 4510

Re: Chase Bank canceling credit cards??

I think that I had three credit cards that were cancelled by three banks recently. They are Chase, Capital One, and Barcley. I am glad that they did it, as I have not used these cards for al least two years.
But I have not got an active credit card cancelled.
by flyingaway
Fri Oct 04, 2019 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: What is your plan for the last few years of a long life?
Replies: 230
Views: 15242

Re: What is your plan for the last few years of a long life?

If one lives to a long age, one has to die from something. Something must go wrong, otherwise many people will live past 100. My father is 88. I can see gradual health declining of him year by year. We have been playing cards every time when I visit him. He almost never makes mistakes and beats me 9...
by flyingaway
Fri Oct 04, 2019 3:19 pm
Forum: Personal Consumer Issues
Topic: Recommendation for Carry on Luggage
Replies: 64
Views: 3986

Re: Recommendation for Carry on Luggage

I see some of the recommended carry-on luggage costs more than $300 a piece. What kind of expensive stuffs do you want to put in? I am willing to buy a small inexpensive carry-on bag or luggage (around $40 at Walmart), and buy whatever is needed at the destination. Do you think that $40 piece of lu...
by flyingaway
Fri Oct 04, 2019 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Change of Careers after 1st Retirement
Replies: 17
Views: 1690

Re: Career Options in Retirement

Career Options in Retirement?

In retirement, are you supposed to have retired from your careers? Otherwise, we will say: change of careers.
by flyingaway
Fri Oct 04, 2019 12:30 am
Forum: Personal Consumer Issues
Topic: For those who see doctors 3~5 times a year, your medical costs between ACA and Medicare?
Replies: 15
Views: 1697

Re: For those who see doctors 3~5 times a year, your medical costs between ACA and Medicare?

atikovi wrote:
Thu Oct 03, 2019 4:05 pm
flyingaway wrote:
Tue Sep 24, 2019 12:35 pm
For those retirees who may want to see doctors a few times (3~5 times) for not serious problems,
Doctors visits are cheap, $80-$150 for a 20 minute session. It's the tests and procedures he orders that can cost thousands.
Yes. 3 to 5 doctor's visits can easily get you to $5,000.
by flyingaway
Fri Oct 04, 2019 12:28 am
Forum: Personal Consumer Issues
Topic: Recommendation for Carry on Luggage
Replies: 64
Views: 3986

Re: Recommendation for Carry on Luggage

I see some of the recommended carry-on luggage costs more than $300 a piece. What kind of expensive stuffs do you want to put in?

I am willing to buy a small inexpensive carry-on bag or luggage (around $40 at Walmart), and buy whatever is needed at the destination.
by flyingaway
Fri Oct 04, 2019 12:24 am
Forum: US Chapters
Topic: Retirement Class of 1998
Replies: 62
Views: 10121

Re: Retirement Class of 1998 updated comments to 2019

May I ask you, did your portfolio get a big hit in 2000? Not too bad, but it was a test to my theory. It really was. I have maintained records of all spending and portfolio growth or decline because this was my theory and I really needed to prove to myself that it worked. I never kept records like ...
by flyingaway
Tue Oct 01, 2019 4:21 pm
Forum: US Chapters
Topic: Retirement Class of 1998
Replies: 62
Views: 10121

Re: Retirement Class of 1998 updated comments to 2019

2019 personal retirement update: We are doing well as our 21st retirement year ends today. We are now at 86 and 79 years of age. I feel healthy mentally and physically and am able to do most things as I did 30 years ago except that I won't get on the roof anymore, only on a step ladder to paint the...
by flyingaway
Mon Sep 30, 2019 6:57 pm
Forum: Personal Consumer Issues
Topic: For those who see doctors 3~5 times a year, your medical costs between ACA and Medicare?
Replies: 15
Views: 1697

Re: For those who see doctors 3~5 times a year, your medical costs between ACA and Medicare?

However, one never knows what the future may hold and old age has a positive correlation with more healthcare consumption. This is a profound statement. I consider myself healthy and lead a healthy life with minimal healthcare expenses. But a sudden illness can strike anybody and at any time. Yeste...
by flyingaway
Mon Sep 30, 2019 6:52 pm
Forum: Personal Consumer Issues
Topic: For those who see doctors 3~5 times a year, your medical costs between ACA and Medicare?
Replies: 15
Views: 1697

Re: For those who see doctors 3~5 times a year, your medical costs between ACA and Medicare?

For those retirees who may want to see doctors a few times (3~5 times) for not serious problems, when you switch from ACA to Medicare, have your total medical expenses (insurance premium plus out-of-pocket money actually paid) increased or decreased? Based on my understanding, ACA premium could be ...
by flyingaway
Mon Sep 30, 2019 9:34 am
Forum: Personal Investments
Topic: retiring abroad with savings worth 200k...
Replies: 101
Views: 14965

Re: retiring abroad with savings worth 200k...

The biggest impediment to retiring early in the USA is the out of control health care system. I can't afford to be paying thousands per month for insurance and then thousands or tens of thousands per year on deductibles and whenever I accidentally end up in front of someone not in my insurer's netw...
by flyingaway
Mon Sep 30, 2019 9:32 am
Forum: Personal Investments
Topic: retiring abroad with savings worth 200k...
Replies: 101
Views: 14965

Re: retiring abroad with savings worth 200k...

and spend your evenings drinking beer with friends in a bars instead of wasting away in rural america We don't have bars or friends or beer in "rural america"? :) And I'd rather be watching the sunset over a lake with my beer and my friends instead of stuck inside some smoke-filled dark European ba...
by flyingaway
Mon Sep 30, 2019 8:43 am
Forum: Personal Consumer Issues
Topic: For those who see doctors 3~5 times a year, your medical costs between ACA and Medicare?
Replies: 15
Views: 1697

Re: For those who see doctors 3~5 times a year, your medical costs between ACA and Medicare?

Based on my understanding, ACA premium could be very inexpensive, maybe cheaper than Medicare co-pay, if you don't see doctors. But that would discourage me from seeing doctors for something not very serious. Frankly speaking, I don't like any deductibles. I will say that I apparently have very dif...
by flyingaway
Mon Sep 30, 2019 8:37 am
Forum: Personal Investments
Topic: retiring abroad with savings worth 200k...
Replies: 101
Views: 14965

Re: retiring abroad with savings worth 200k...

Exactly. A friend's father early retired to Thailand a decade or two ago. He's Austrian and apparently Hua Hin is a popular place for German and Austrian retirees for some reason. My friend tells me that over the years a decent number of his father's friends got priced out of Thailand. I guess they...
by flyingaway
Mon Sep 30, 2019 8:34 am
Forum: Personal Investments
Topic: How do early retirees survive bad markets?
Replies: 26
Views: 4825

Re: How do early retirees survive bad markets?

If you are REALLY retired (early or not), not someone retired but with a side gig bringing $400k a year, keeping some cash or bond in a taxable account is not a big problem, I think.
by flyingaway
Tue Sep 24, 2019 12:47 pm
Forum: Personal Investments
Topic: retiring abroad with savings worth 200k...
Replies: 101
Views: 14965

Re: retiring abroad with savings worth 200k...

Exactly. A friend's father early retired to Thailand a decade or two ago. He's Austrian and apparently Hua Hin is a popular place for German and Austrian retirees for some reason. My friend tells me that over the years a decent number of his father's friends got priced out of Thailand. I guess they...
by flyingaway
Tue Sep 24, 2019 12:35 pm
Forum: Personal Consumer Issues
Topic: For those who see doctors 3~5 times a year, your medical costs between ACA and Medicare?
Replies: 15
Views: 1697

For those who see doctors 3~5 times a year, your medical costs between ACA and Medicare?

For those retirees who may want to see doctors a few times (3~5 times) for not serious problems, when you switch from ACA to Medicare, have your total medical expenses (insurance premium plus out-of-pocket money actually paid) increased or decreased? Based on my understanding, ACA premium could be v...
by flyingaway
Sat Sep 21, 2019 12:50 am
Forum: Personal Finance (Not Investing)
Topic: Early retirement - not worry about withdrawal rate, but focus on portfolio size?
Replies: 68
Views: 5550

Re: Early retirement - not worry about withdrawal rate, but focus on portfolio size?

With a portfolio size of $1 billion, you don't have to worry about the withdrawal rate.
by flyingaway
Wed Sep 18, 2019 5:48 pm
Forum: Personal Consumer Issues
Topic: $2k repairs on $12K car
Replies: 81
Views: 4954

Re: $2k repairs on $12K car

If it’s a good shop do it. If you don’t replace fluids now you will still need to in the future. Replacing a battery yourself can really suck. Worst is if you put off replacing the battery and it dies when you need the car. Go to any Autozone store to buy a battery, they will check the model and in...
by flyingaway
Wed Sep 18, 2019 11:45 am
Forum: Personal Consumer Issues
Topic: $2k repairs on $12K car
Replies: 81
Views: 4954

Re: $2k repairs on $12K car

Are the maintenance items really necessary? I have a 2010 Lexus RX350 with 100K miles and 10 years of driving (bought in 2009). I still have the original break pads. I only change oil once in a year. The only problem I had in 10 years was to have the water pump replaced, about $1,000. (and a battery...
by flyingaway
Tue Sep 17, 2019 8:23 pm
Forum: Personal Consumer Issues
Topic: Vacation ideas for February
Replies: 39
Views: 2805

Re: Vacation ideas for February

Any Caribbean islands, Latin American countries, and Columbia will be OK. For a lazy vacation, consider Cancun, Aruba, Jamaica, Dominican Republic. If you have not been in any Caribbean island, start with San Juan.
by flyingaway
Tue Sep 17, 2019 2:58 pm
Forum: Personal Consumer Issues
Topic: Anyonw driving Uber for fun and pocket money in retirement?
Replies: 111
Views: 11003

Re: Anyonw driving Uber for fun and pocket money in retirement?

Well I haven't posted much on the forum but I'm willing to help people really understand what it's like to drive for Uber if you're interested. Not sure how much to post in this post but let's see how far it goes... I live in Phoenix so it's a large city which means more requests. I also only drive...
by flyingaway
Tue Sep 17, 2019 2:48 pm
Forum: Personal Consumer Issues
Topic: Anyonw driving Uber for fun and pocket money in retirement?
Replies: 111
Views: 11003

Re: Anyonw driving Uber for fun and pocket money in retirement?

... certainly better than a greeter at Walmart... As far as I could tell, that looked like a pretty easy going job... But I don't even think a "greeter" is a thing anymore. https://www.forbes.com/sites/denisebrodey/2019/03/01/disability-experts-offer-advice-for-walmart-greeters-who-are-being-laid-o...
by flyingaway
Tue Sep 17, 2019 2:46 pm
Forum: Personal Consumer Issues
Topic: Seasoned retirees...
Replies: 52
Views: 4455

Re: Seasoned retirees...

FireHorse wrote:
Tue Sep 17, 2019 2:22 pm
Every things free wrote:
Tue Sep 17, 2019 7:13 am
I'm with Dan Mahowny,
Find two hobbies: One to make you money.
One to keep you in shape.
+1000
Maybe you should keep your job and buy a gym membership.
by flyingaway
Mon Sep 16, 2019 9:43 am
Forum: Personal Consumer Issues
Topic: T-mobile vs Google Fi for Internatioanal?
Replies: 31
Views: 1935

Re: T-mobile vs Google Fi for Internatioanal?

The good thing about T-Mobile is that there is no additional cost for international data plan, which is unlimited in theory. It says after your 4G quote is used, it becomes 2G, but I did not notice the difference. Sometimes older phones do not work well with some other country's network. I found T-M...
by flyingaway
Mon Sep 16, 2019 8:59 am
Forum: Personal Investments
Topic: Can I PRE-tire yet?
Replies: 10
Views: 2200

Re: Can I PRE-tire yet?

CoastFIRE.
by flyingaway
Mon Sep 09, 2019 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Have you been doing better than your parents?
Replies: 30
Views: 2189

Have you been doing better than your parents?

Have you been doing better than your parents, financially and in other aspects? Are you expecting your children to do better than you? For me, I am certainly doing better than my parents. It looks like my two sons will be doing better than me financially. They both got very good first jobs. So I am ...
by flyingaway
Mon Sep 09, 2019 9:23 am
Forum: Personal Consumer Issues
Topic: Retirees: Ever feel really lazy?
Replies: 42
Views: 5324

Re: Retirees: Ever feel really lazy?

Not yet officially retired, but when I read a thread like this I have to wonder - what is retirement defined as? When we retire in less than 2 years, I plan on doing whatever I want whenever I want, in concert with DW. That means it's perfectly acceptable to wake up, have a cup of coffee and read t...