Search found 1745 matches

by mak1277
Thu Feb 04, 2021 9:54 am
Forum: Personal Consumer Issues
Topic: Backpacking gear recommendations - backpack, shoes, sleeping bag
Replies: 108
Views: 9116

Re: Backpacking gear recommendations - backpack, shoes, sleeping bag

2 days and you need a larger backpack? Are you sure? Take a look at BackpackingLight.com -- there's a fair amount of useful information you can get without a membership, including a page on backpacking gear deals. I already have a 44L bag, that I could probably use for an overnight in the summer. I'll see how big they multiday packs look at feel at REI, but am thinking a 75L bag could be a good option. Looking at some, it seems like the weight difference between a 65L and 75L is only an ounce. I wouldn't get caught up in worrying about the weight of the pack, the difference between a light 20L pack and a heavy 75L pack can be eaten up with just a single unnecessary piece of gear in that pack. Sometimes I even take my 65L pack (over my 20L ...
by mak1277
Wed Feb 03, 2021 4:27 pm
Forum: Investing - Theory, News & General
Topic: The Power of Working Longer
Replies: 539
Views: 56552

Re: The Power of Working Longer

Spending 1% less for 30 years seems like a pretty minor tradeoff for 6-months more in retirement, especially at a time when you will be the most energetic and physically able (the beginning). I could have a heck of a vacation during that 6 months. If I am energetic and physically able, the last thing I plan to do is retire. That will come when I cannot do the job, or no one will keep paying me. Opportunity cost of retiring before that is far too high. You must enjoy your job a lot! Or do you really only mean the financial opp cost is too high? Marginal utility of a few extra bucks when your 70 is high? Really? It is not so much enjoyment as a sense of accomplishment. I get things done that I consider important. Could not do that if I were ...
by mak1277
Wed Feb 03, 2021 2:51 pm
Forum: Investing - Theory, News & General
Topic: The Power of Working Longer
Replies: 539
Views: 56552

Re: The Power of Working Longer

And sadly more than a few people don't live into their late 70s or 80s to really gain any benefit from it. I had a friend pass away around 60 last year who fortunately retired around 56 so at least he got a few years of retirement enjoyment. Recently a coworker delayed retirement due to covid (he wanted to travel in retirement) and unfortunately died due to an issue with cancer. It's sad but true. Both of my paternal grandparents died before they reached 50. My FiL passed away at age 65. Both of my maternal grandparents passed by age 82. All these people would apparently have been happier saving less per year and spending more per year while they were alive. These situations are negatively affected both by high saving rates as well as late...
by mak1277
Wed Feb 03, 2021 10:17 am
Forum: Personal Consumer Issues
Topic: Backpacking gear recommendations - backpack, shoes, sleeping bag
Replies: 108
Views: 9116

Re: Backpacking gear recommendations - backpack, shoes, sleeping bag

Pretty sure I prefer some trail running shoes, but again, I'll try some out in person. For shorter trips, I'll probably just wear my running shoes I have been backpacking for decades and I don't think I've ever met another backpacker that bought their gear in one shot and was happy with it from there on out. Everyone is always upgrading, downsizing or figuring out what works for them and making adjustments. I suspect you will learn a lot from your first few hikes and if you enjoy them, you too will be changing things up. My father hiked the Appalachian trail a couple years back after my mom died. He had been backpacking for nearly 50+ years before starting and was pretty sure he had things figured out. The gear he finished the trail with w...
by mak1277
Wed Feb 03, 2021 9:58 am
Forum: Personal Consumer Issues
Topic: Backpacking gear recommendations - backpack, shoes, sleeping bag
Replies: 108
Views: 9116

Re: Backpacking gear recommendations - backpack, shoes, sleeping bag

I’m also a believer that the cheapest way to shave weight is thoughtfully not bringing stuff you don’t need (extra clothes, lots of “just in case “ items, etc). Don’t forgo it if it makes you happy but many people haul around 10 extra lbs of stuff they don’t even use. This x10000. On previous hiking/backpacking threads on this board, there are often suggestions for bringing tons and tons of stuff that will almost assuredly never be used. I have the very same thought process with cars: if you have one kid and think you need a minivan or suburban, maybe consider what you are bringing (we regularly go on week-long camping trips with our family of 4 in our VW jetta). I'm a very minimalist backpacker and after countless adventures there has nev...
by mak1277
Wed Feb 03, 2021 9:31 am
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 7650
Views: 1723817

Re: What Book Are You Currently Reading? Part VI

Blues wrote: Tue Feb 02, 2021 2:54 pm Some years back I was at the Blade Show in Atlanta or Guild Show in Orlando and met a custom knife maker named Thomas McGuane. I mentioned to him that I was a fan of a writer by that name...

...he informed that that was his father. Like his father, he had talent at his craft.
If you ever get a chance, listen to McGuane talk about his life (he's done so on a handful of podcasts over the last few years). He's had the kind of life you don't believe is possible outside of movies. Really interesting dude.
by mak1277
Wed Feb 03, 2021 7:58 am
Forum: Investing - Theory, News & General
Topic: Madness of Crowds
Replies: 102
Views: 10477

Re: Madness of Crowds

Go watch Boiler Room , Margin Call , and Wall Street for entertainment and further temperance. The movie " Margin Call " is exquisite - an unnamed investment bank on the brink. I would also recommend " Boiler Room " which is a forensic depiction of biotech stock fraud in the 1990s (same events as "The Wolf of Wall Street"). Nice RECO!!! Vt! @OP et al. be forewarned people who allow themselves to be driven by market forces tend to use a lot of "adult language"! :sharebeer My apologies, I missed your recommendations. :sharebeer Wall Street is well out of date (insider trading in the 1980s) but the depiction of human greed and its consequences is quite arch. The director, Oliver Stone - his father worke...
by mak1277
Tue Feb 02, 2021 3:09 pm
Forum: Investing - Theory, News & General
Topic: Madness of Crowds
Replies: 102
Views: 10477

Re: Madness of Crowds

The GME short squeeze was a legitimate market insight by the wallstreetbets crowd. They noticed a bunch of hedge fund pigs were out of cover and slaughtered them. It was not a madness of (their) crowd, and it was not a zero sum pump and dump. The hedge funds' loss was the short squeezers' gains dollar for dollar. Market insights do still exist and they are still very profitable. That does not contradict the boglehead approach, but the boglehead approach does not contradict the existence of the occasional $20 laying on the ground. The trouble is that you have to do a lot of research to make sure that $20 isn't a snake that will bite your hand off. GME squeezers did their research and profited from it. I agree. Problem is even when it's said...
by mak1277
Tue Feb 02, 2021 1:57 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 7650
Views: 1723817

Re: What Book Are You Currently Reading? Part VI

mike@jb wrote: Fri Jan 29, 2021 7:27 pm As my DW says, I’m reading yet another fishing book...
“The Longest Silence” by Tom McGuane is a collection of essays.
I have two more fishing books in the queue :P
Longest Silence is great. What others do you have on your list? I've read a number of Gierach's books, Ted Leeson's essays (also good), etc.
by mak1277
Fri Jan 29, 2021 9:36 am
Forum: Investing - Theory, News & General
Topic: Is there any doubt now that we are in a bubble?
Replies: 61
Views: 5893

Re: Is there any doubt now that we are in a bubble?

I mean, if you think we're in a bubble, prove it by shorting the market. That always works, right?
by mak1277
Thu Jan 28, 2021 9:57 am
Forum: Personal Consumer Issues
Topic: Does TV Commercials, Online Ads and Telemarketing Affect Your Consumption Choices?
Replies: 73
Views: 5013

Re: Does TV Commercials, Online Ads and Telemarketing Affect Your Consumption Choices?

cheese_breath wrote: Thu Jan 28, 2021 9:42 am
mak1277 wrote: Thu Jan 28, 2021 8:51 am You know what ads work on me? Highway billboards. If I see a billboard that tells me there is a Bojangles at exit X, that infinitely increases the chances of me stopping at that Bojangles.
Do you stop there because you're hungry and want to eat, and Bojangles is your favorite place? Or do you stop every place there's a Bojangles sign?
Eventually you're going to have to stop to eat somewhere. If I see a Bojangles sign (or something else that piques my interest on that given trip), then I would stop there vs. some other place to get a generic McDonald's meal. But without the sign, the odds of me randomly stopping at that particular restaurant are almost nil.
by mak1277
Thu Jan 28, 2021 8:51 am
Forum: Personal Consumer Issues
Topic: Does TV Commercials, Online Ads and Telemarketing Affect Your Consumption Choices?
Replies: 73
Views: 5013

Re: Does TV Commercials, Online Ads and Telemarketing Affect Your Consumption Choices?

You know what ads work on me? Highway billboards. If I see a billboard that tells me there is a Bojangles at exit X, that infinitely increases the chances of me stopping at that Bojangles.
by mak1277
Thu Jan 28, 2021 8:46 am
Forum: Investing - Theory, News & General
Topic: Has Bogleheads lost its direction?
Replies: 325
Views: 49811

Re: Has Bogleheads lost its direction?

deltaneutral83 wrote: Thu Jan 28, 2021 7:46 am I do sometimes wish we had a sub-forum with BH's who were "of age" who have seen the past three most serious bears (Y2K, Housing, Covid) with serious money in play (so probably traditional retirement age by now) who just beat the "I saved 20-25% of my pay and have 3F" drum and post their progressions. The allure of single stocks will always be there for those starting out, but I wish we had a clear cut forum for the basics.
But who needs a forum for the basics? Isn't that the wiki page? If we didn't talk about things beyond the basics of bogle-ing, then there would be no point to the forum. Just read the wiki.
by mak1277
Wed Jan 27, 2021 3:21 pm
Forum: Personal Consumer Issues
Topic: Does TV Commercials, Online Ads and Telemarketing Affect Your Consumption Choices?
Replies: 73
Views: 5013

Re: Does TV Commercials, Online Ads and Telemarketing Affect Your Consumption Choices?

qwertyjazz wrote: Wed Jan 27, 2021 1:47 pm Of course not, ads effect everyone but me says everyone :oops:
Pretty much every person in the history of the world is a either a liar or self deluded...nothing new to see here
by mak1277
Tue Jan 26, 2021 2:24 pm
Forum: Personal Consumer Issues
Topic: Does TV Commercials, Online Ads and Telemarketing Affect Your Consumption Choices?
Replies: 73
Views: 5013

Re: Does TV Commercials, Online Ads and Telemarketing Effect Your Consumption Choices?

cheese_breath wrote: Tue Jan 26, 2021 1:57 pm
capitalhockey wrote: Tue Jan 26, 2021 9:40 am ... I wish companies would spend more time/money making their products better than on marketing gimmicks. Like that famous movie...."If you build it, they will come!"
But if they don't know, they won't come. As an ooooold IT pro I remember the story of the '60s. IBM didn't have the best computers, but they had the best advertising.

edit: Best sales force, not advertising. Guess that nullifies my example, but the point is still applicable.
Brand image is real and important. Just think about how Rolex is viewed compared to other brands that offer nearly indistinguishable quality (e.g., Omega and others).
by mak1277
Tue Jan 26, 2021 11:57 am
Forum: Personal Consumer Issues
Topic: Does TV Commercials, Online Ads and Telemarketing Affect Your Consumption Choices?
Replies: 73
Views: 5013

Re: Does TV Commercials, Online Ads and Telemarketing Affect Your Consumption Choices?

Telemarketing? Never.

Online ads and TV commercials, though, definitely have worked on me from time to time. But I can't say I really mind all that much either.

I personally don't understand the obsession with getting the one best ____ (whatever). I mean, obviously it pays to do some research for larger purchases, but I think the time wasted on asking "what's the best pencil" is absurd. I think being a slave to reviews is just a different type of influence...not really THAT much different than being influenced by ads.
by mak1277
Sat Jan 23, 2021 8:54 am
Forum: Personal Consumer Issues
Topic: Any multimillionaire's (more than 2mm) out there still mow their own lawn?
Replies: 341
Views: 33727

Re: Any multimillionaire's (more than 2mm) out there still mow their own lawn?

Normchad wrote: Fri Jan 22, 2021 10:09 pm
cdc wrote: Fri Jan 22, 2021 9:53 pm I still mow my own lawn and I still hate doing it.
This is the right answer. I'm not impressed by the multi-millionaires who cut their lawn, and enjoy it. So what?

Now, hating it, and still doing it, that's character.

Sadly though, I learned in another thread, that people aren't rich until they hit a networth of $50M, or make $1M a year. so I guess I'm not so special after all. (I do cut the grass though).
It's not character, it's masochism. There's nothing noble here.
by mak1277
Fri Jan 22, 2021 4:00 pm
Forum: Personal Consumer Issues
Topic: My $7,000 watch in the news!
Replies: 21
Views: 2573

Re: My $7,000 watch in the news!

hi_there wrote: Fri Jan 22, 2021 3:38 pm Actually, I am pretty surprised that he didn't make a conscious effort to wear only American clothing and accessories. For instance, his wife made sure to wear an American designed outfit to the inauguration, and no one can even tell what dress it is. I imagine that wearing an Apple Watch or something would also help offset public concern that he is the oldest President in the history of the US.
His suit was Ralph Lauren, so he had the American made/American company covered there at least.
by mak1277
Fri Jan 22, 2021 3:42 pm
Forum: Personal Consumer Issues
Topic: Work from home getting harder
Replies: 95
Views: 9228

Re: Work from home getting harder

checkyourmath wrote: Fri Jan 22, 2021 12:40 pm WFH is a joke. I would quit my job in a heartbeat if this was the new normal. I thrive off human interaction not a bunch of emails and meetings.
It's funny, I think I'm going to quit when they make me go back to the office.

To actually respond to the OP, I'll say this. I am almost religious about shutting everything down when my day is done. I turn off my computer, I turn off notifications on my cell phone so I don't see new emails popping up, and I change clothes to mark "returning home from work". It has helped me to keep my normal work routines (get up, shower, dress like I'm going to the office), and then my normal home routines (shut down, change clothes, play with the kid).
by mak1277
Fri Jan 22, 2021 11:59 am
Forum: Personal Consumer Issues
Topic: Any multimillionaire's (more than 2mm) out there still mow their own lawn?
Replies: 341
Views: 33727

Re: Any multimillionaire's (more than 2mm) out there still mow their own lawn?

wriley4409 wrote: Fri Jan 22, 2021 11:08 am
EvanRude wrote: Sun Jan 03, 2021 5:55 pm Absolutely. Never saw the value in paying someone to tend my yard while also paying money to go to a gym to work out!
+2

This tactic saves money twice!
I agree with this, but I would never pay to go to a gym.
by mak1277
Thu Jan 21, 2021 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Millionaire Parents: Do Your Kids Know You're Rich?
Replies: 194
Views: 15472

Re: Millionaire Parents: Do Your Kids Know You're Rich?

Just for a bit of perspective, a net household worth of $1,085,000 in 2020 is in the 89 percentile for the U.S. So 88 of 100 households are not millionaires -- it is not that common -- and $ 2,080,569 is the 94th percentile. I would argue that when people use the term "millionare" they are referring to "having more than one million dollars," not having a net worth of one million dollars. Someone may own a home that is worth 500k and have 500k in savings and be called a millionare by the net worth defintion but I don't think most people define millionare in that way. There are also a shockingly large amount of people that define "millionaire" as someone who has $1 million annual income :shock: I kind of think t...
by mak1277
Thu Jan 21, 2021 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Millionaire Parents: Do Your Kids Know You're Rich?
Replies: 194
Views: 15472

Re: Millionaire Parents: Do Your Kids Know You're Rich?

Wanderingwheelz wrote: Thu Jan 21, 2021 11:27 am
Tingting1013 wrote: Thu Jan 21, 2021 11:08 am Better question: do the parents know they’re rich?
Most modestly rich people don’t know they’re rich. Money worries don’t all of a sudden stop at a certain net worth, after all, they only evolve. Rich is a relative term and the closer you get the more it doesn’t feel quite like you thought it would.
Well, also, it seems to be a growing opinion in the world that rich people are evil...so nobody wants to own up to being rich even when they are.
by mak1277
Thu Jan 21, 2021 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Millionaire kids: Do your parents know you’re rich?
Replies: 54
Views: 6431

Re: Millionaire kids: Do your parents know you’re rich?

My dad knows that I'm genuinely contemplating retirement before age 45....he knows that I have made a comment that a $100,000 donation to charity was "doable"....but he also was very worried when I bought him a $1,200 ticket to a world series game. That's about as far as it goes.
by mak1277
Wed Jan 20, 2021 2:47 pm
Forum: Personal Consumer Issues
Topic: Any multimillionaire's (more than 2mm) out there still mow their own lawn?
Replies: 341
Views: 33727

Re: Any multimillionaire's (more than 2mm) out there still mow their own lawn?

Several years ago (before you tube), Sears wanted three weeks to come repair my fridge. My dad lived 1,000 miles away, but talked me through the diagnosis over the phone. It started something like this: (Dad) get out your multimeter (me). What's that? (Dad described). (Me) I'll call you back in an hour. (hour passes.) (Dad) you went and bought one, didn't you. (Me) yes. What's next?........Diagnosis was same as your problem. I ordered the part from the manual using a local store. He talked me thru the installation of the fan days later. So satisfying as I never did something like that before. Still working more than a decade later.... Sounds like a horrible use of time to me...I'd much rather read a book, take a hike, take a nap, watch a m...
by mak1277
Wed Jan 20, 2021 12:40 pm
Forum: Personal Consumer Issues
Topic: Any multimillionaire's (more than 2mm) out there still mow their own lawn?
Replies: 341
Views: 33727

Re: Any multimillionaire's (more than 2mm) out there still mow their own lawn?

I mow my lawn. I like gardening/landscaping and have a small yard so it's no big deal. But the reason I'm really posting is that I had a big success yesterday. My fridge (20 year old GE Profile side-by-side) wasn't cooling properly. I diagnosed the problem (Google search), ordered the part from Amazon (condenser fan motor), and removed and replaced it. Pretty much every repair job I ever attempt goes awry, so I'm pretty excited about rfmy success. My wife was impressed! Several years ago (before you tube), Sears wanted three weeks to come repair my fridge. My dad lived 1,000 miles away, but talked me through the diagnosis over the phone. It started something like this: (Dad) get out your multimeter (me). What's that? (Dad described). (Me) ...
by mak1277
Wed Jan 20, 2021 9:31 am
Forum: Personal Consumer Issues
Topic: Any multimillionaire's (more than 2mm) out there still mow their own lawn?
Replies: 341
Views: 33727

Re: Any multimillionaire's (more than 2mm) out there still mow their own lawn?

I've never had to wait 3 weeks on a repairman in my life. If I couldn't get the fridge fixed in 3 days I'd just buy a new one. Life's too short. Being able to fix something isn't about wasting time, sometimes it's the only option. Try buying a fridge or deep freezer back in April - not happening. For me it’s also not getting into the habit of just throwing money at every problem. I have learned that, for me, that is pretty much the only purpose of money. Money isn't an end, it isn't a goal. It's a tool. At first it's a tool that is a minimum requirement for living (I need shelter, I need food), then as time passes and you get more of it, it's a tool to live the life you desire. Personally, if I wanted to fix refrigerators, I would have bee...
by mak1277
Wed Jan 20, 2021 7:38 am
Forum: Personal Consumer Issues
Topic: Any multimillionaire's (more than 2mm) out there still mow their own lawn?
Replies: 341
Views: 33727

Re: Any multimillionaire's (more than 2mm) out there still mow their own lawn?

I mow my lawn. I like gardening/landscaping and have a small yard so it's no big deal. But the reason I'm really posting is that I had a big success yesterday. My fridge (20 year old GE Profile side-by-side) wasn't cooling properly. I diagnosed the problem (Google search), ordered the part from Amazon (condenser fan motor), and removed and replaced it. Pretty much every repair job I ever attempt goes awry, so I'm pretty excited about rfmy success. My wife was impressed! Several years ago (before you tube), Sears wanted three weeks to come repair my fridge. My dad lived 1,000 miles away, but talked me through the diagnosis over the phone. It started something like this: (Dad) get out your multimeter (me). What's that? (Dad described). (Me) ...
by mak1277
Wed Jan 20, 2021 7:25 am
Forum: Personal Consumer Issues
Topic: Any multimillionaire's (more than 2mm) out there still mow their own lawn?
Replies: 341
Views: 33727

Re: Any multimillionaire's (more than 2mm) out there still mow their own lawn?

I mow my lawn. I like gardening/landscaping and have a small yard so it's no big deal. But the reason I'm really posting is that I had a big success yesterday. My fridge (20 year old GE Profile side-by-side) wasn't cooling properly. I diagnosed the problem (Google search), ordered the part from Amazon (condenser fan motor), and removed and replaced it. Pretty much every repair job I ever attempt goes awry, so I'm pretty excited about rfmy success. My wife was impressed! Several years ago (before you tube), Sears wanted three weeks to come repair my fridge. My dad lived 1,000 miles away, but talked me through the diagnosis over the phone. It started something like this: (Dad) get out your multimeter (me). What's that? (Dad described). (Me) ...
by mak1277
Wed Jan 20, 2021 7:21 am
Forum: Personal Investments
Topic: Should i be worried giving BH advise to family?
Replies: 46
Views: 3775

Re: Should i be worried giving BH advise to family?

Hello, so heres my situation, I have been following boglehead advice for awhile now besides owning some tesla lol but i have been sharing the power of indexing and bogleheads aproach to some coworkers and family. broad based indexes are the way to go (VTSAX). So were giving a car away to my sister in law as long as she opens a roth and starts investing, I would help her open an account and she agreed. Now my advice would be to have her put it in vtsax. Am i at all legally vulnerable by giving such advice? should i say im not a financial advisor but this is what i do? I'm sure other people have been in similar situations. She doesnt know or is interested in investing as far I know. so hopefully this sparks some interest. Hi I would say your...
by mak1277
Tue Jan 19, 2021 2:52 pm
Forum: Personal Investments
Topic: Should i be worried giving BH advise to family?
Replies: 46
Views: 3775

Re: Should i be worried giving BH advise to family?

Hello, so heres my situation, I have been following boglehead advice for awhile now besides owning some tesla lol but i have been sharing the power of indexing and bogleheads aproach to some coworkers and family. broad based indexes are the way to go (VTSAX). So were giving a car away to my sister in law as long as she opens a roth and starts investing, I would help her open an account and she agreed. Now my advice would be to have her put it in vtsax. Am i at all legally vulnerable by giving such advice? should i say im not a financial advisor but this is what i do? I'm sure other people have been in similar situations. She doesnt know or is interested in investing as far I know. so hopefully this sparks some interest. Hi I would say your...
by mak1277
Mon Jan 18, 2021 3:44 pm
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 11149
Views: 2085568

Re: What Movie Have You Recently Watched?

Freetime76 wrote: Mon Jan 18, 2021 3:31 pm Clue. c. 1985. Set in 1950s.
DH hadn’t seen it and was forced to watch - not sure how he got through the teenage years without watching it ever.
Never understood the cult following for this one, honestly. Aside from Madeline Kahn's costume, I can't recall anything that made this movie worth seeing.

Edit to add: Clearly it's been too long, as obviously I was referring to the maid's costume.
by mak1277
Mon Jan 18, 2021 3:23 pm
Forum: Investing - Theory, News & General
Topic: How is your "number" defined?
Replies: 179
Views: 19604

Re: How is your "number" defined?

Time lord does pose an interesting question though, and one that I was also thinking of. I have the time and capability to make more money. I could very likely double what I have, although I have no real use for it. Am I short changing the universe by not doing this? Am I schmuck for depriving the world of my remaining human capital? Or am I doing the right thing, by getting out of the way and letting somebody else take a bite of the apple? In my estimation, there are only a few people in the world who are truly irreplaceable and so necessary that they should feel a moral obligation to work past the time when they are FI. Like, 0.1% of the population is my SWAG. So you might be in that group, but honestly, if you are, you're already wastin...
by mak1277
Mon Jan 18, 2021 10:30 am
Forum: Personal Consumer Issues
Topic: Let's play chess
Replies: 987
Views: 98315

Re: Let's play chess

I play on chess.com as well. A 3-minute blitz game is the best way I can think of to spend 6 idle minutes in the middle of the day.
by mak1277
Fri Jan 15, 2021 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: YOLO vs BH
Replies: 97
Views: 11365

Re: YOLO vs BH

TonyDAntonio wrote: Fri Jan 15, 2021 3:04 pm One of my good friends said to me a long time ago and it keeps ringing more true everyday, "There are things you have to do and there are things you want/like to do. The trick is to make those things as close to the same as possible."

You have to save and invest your money. Grow to love the feeling of saving. You have to control your spending. Grow to love living below your means.

"Free your mind and the rest will follow."

BH lifestyle can be YOLO lifestyle. It's a choice.
Saving is just a means to an end...no glory in saving just for the sake of saving.
by mak1277
Fri Jan 15, 2021 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Credit card compromised while traveling
Replies: 6
Views: 765

Re: Credit card compromised while traveling

Long ago (early 00's) I lost my Amex the night before a business trip. There was a replacement card waiting for me the next afternoon when I checked into my hotel.

More recently, I had my debit card (CapitalOne) compromised. They did not want to overnight my card to my in-laws, but I convinced them it would be in their best interest to do so (this is probably the only time I'll ever actually benefit from having way too much cash in my portfolio).
by mak1277
Thu Jan 14, 2021 11:56 am
Forum: Personal Finance (Not Investing)
Topic: What are your Lean FIRE, FIRE, and Fat FIRE numbers?
Replies: 307
Views: 36433

Re: What are your Lean FIRE, FIRE, and Fat FIRE numbers?

I can't really wrap my head around the idea of LeanFIRE or how that information is useful to me. If I can't have the lifestyle I want to have, I am not ready to retire early and I'm not exactly financially independent, either. If there is some unforeseen circumstance that occurs in my life that makes working not feasible or desirable I can assess whether retirement on a reduced budget is possible at the time. But it's nothing I feel like I'm going to plan for in advance. If those circumstances even arose, I'd probably make other choices: leave a VHCOL area, consider move in with family, etc, etc. But I've got zero interest in planning for a lifestyle that does not seem reasonably likely and that I don't want. (It's okay if this information...
by mak1277
Thu Jan 14, 2021 7:09 am
Forum: Personal Consumer Issues
Topic: Private insurance with coverage out of network
Replies: 11
Views: 1007

Re: Private insurance with coverage out of network

This is a depressing conversation, and may force me to continue working far longer than I want to.

Excluding ACA plans, what private insurance options exist?
by mak1277
Wed Jan 13, 2021 12:07 pm
Forum: Personal Consumer Issues
Topic: Private insurance with coverage out of network
Replies: 11
Views: 1007

Re: Private insurance with coverage out of network

MP123 wrote: Wed Jan 13, 2021 12:06 pm Are there any PPO ACA plans where you live? Those would be the most likely to cover out-of-network. HMO and EPO plans won't except for emergencies.

Many ACA insurers have dropped PPO plans, but in some areas they're still available.
I haven't seen any, but I also haven't looked at all of the available plans. I was starting with Platinum and Gold and working my way down.
by mak1277
Wed Jan 13, 2021 11:32 am
Forum: Personal Consumer Issues
Topic: Private insurance with coverage out of network
Replies: 11
Views: 1007

Re: Private insurance with coverage out of network

mhalley wrote: Wed Jan 13, 2021 10:53 am Maybe call the provider and ask them what insurance they accept.
They don't accept insurance at all. We have to pay out of pocket and then submit a claim to my insurance through work. It's covered under my current plan, but I can't find an ACA plan that pays for out of network services.
by mak1277
Wed Jan 13, 2021 9:24 am
Forum: Personal Consumer Issues
Topic: Private insurance with coverage out of network
Replies: 11
Views: 1007

Private insurance with coverage out of network

As I finally do some detailed pre-retirement planning, I am struggling to find insurance that covers out of network services. My family has a very specific need that (currently) is only available from providers who are not part of any healthcare network. My (admittedly limited) research on ACA plans has not turned up any plans (even platinum) that cover out of network providers.

I am very curious about other options that people have found for this type of thing.

Appreciate any insights.
by mak1277
Tue Jan 12, 2021 8:05 am
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 7650
Views: 1723817

Re: What Book Are You Currently Reading? Part VI

datadatum wrote: Mon Jan 11, 2021 6:59 pm Barbarians at the Gate: The Fall of RJR Nabisco by Bryan Burrough, John Helyar
Good book. If you like it, and you're also a baseball fan, you should check out Lords of the Realm by Helyar.
by mak1277
Tue Jan 12, 2021 7:57 am
Forum: Personal Finance (Not Investing)
Topic: What are your Lean FIRE, FIRE, and Fat FIRE numbers?
Replies: 307
Views: 36433

Re: What are your Lean FIRE, FIRE, and Fat FIRE numbers?

The trick is to get the mortgage paid off and the kids grown up and on their own. That frees up a lot of cash to increase your quality of life, without needing any more income. I realize there are a lot of folks who had kids later in life, but some of us were completely done by 50. As I said above, my mortgage is already paid off, and I'm going to retire before my kid is in kindergarten, so none of that is relevant. Isn’t that called a stay at home dad? I think if the wife works then you call it a SAHD. But what if nobody is working? Aren't both parents retired? That’s a lot of ifs. Where I come from, and it’s a pretty nice area, the dudes who are home with the kids either have a trust fund or their wife is a higher earner. Or both in a co...
by mak1277
Mon Jan 11, 2021 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: What are your Lean FIRE, FIRE, and Fat FIRE numbers?
Replies: 307
Views: 36433

Re: What are your Lean FIRE, FIRE, and Fat FIRE numbers?

Are you all talking pre-tax / post-tax numbers? Pre-tax would be a lot more convenient for mental math when you try to convert between your portfolio $ value and annual expenses. Regardless (assuming 3.25% SWR, because that's what we're comfortable with when it comes to RE): Lean FI: $40k ($1.25MM) - Extremely basic needs for a family of 4. Will survive but not much beyond that. If we do this, we'd either have to move to a LCOL state in the US or outside the US to someplace cheap (probably back home to India where $40k a year gets you a lot more). FI: $80k ($2.5MM) - Tuition for kids' college is going to be a bit iffy but we can probably make it work. Fat FI: $150k ($4.5MM) - Not much else to say, healthcare will be taken care of, portfoli...
by mak1277
Mon Jan 11, 2021 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: What are your Lean FIRE, FIRE, and Fat FIRE numbers?
Replies: 307
Views: 36433

Re: What are your Lean FIRE, FIRE, and Fat FIRE numbers?

Are you all talking pre-tax / post-tax numbers? Pre-tax would be a lot more convenient for mental math when you try to convert between your portfolio $ value and annual expenses. Regardless (assuming 3.25% SWR, because that's what we're comfortable with when it comes to RE): Lean FI: $40k ($1.25MM) - Extremely basic needs for a family of 4. Will survive but not much beyond that. If we do this, we'd either have to move to a LCOL state in the US or outside the US to someplace cheap (probably back home to India where $40k a year gets you a lot more). FI: $80k ($2.5MM) - Tuition for kids' college is going to be a bit iffy but we can probably make it work. Fat FI: $150k ($4.5MM) - Not much else to say, healthcare will be taken care of, portfoli...
by mak1277
Mon Jan 11, 2021 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: What are your Lean FIRE, FIRE, and Fat FIRE numbers?
Replies: 307
Views: 36433

Re: What are your Lean FIRE, FIRE, and Fat FIRE numbers?

Are you all talking pre-tax / post-tax numbers? Pre-tax would be a lot more convenient for mental math when you try to convert between your portfolio $ value and annual expenses. Regardless (assuming 3.25% SWR, because that's what we're comfortable with when it comes to RE): Lean FI: $40k ($1.25MM) - Extremely basic needs for a family of 4. Will survive but not much beyond that. If we do this, we'd either have to move to a LCOL state in the US or outside the US to someplace cheap (probably back home to India where $40k a year gets you a lot more). FI: $80k ($2.5MM) - Tuition for kids' college is going to be a bit iffy but we can probably make it work. Fat FI: $150k ($4.5MM) - Not much else to say, healthcare will be taken care of, portfoli...
by mak1277
Mon Jan 11, 2021 7:46 am
Forum: Personal Finance (Not Investing)
Topic: What are your Lean FIRE, FIRE, and Fat FIRE numbers?
Replies: 307
Views: 36433

Re: What are your Lean FIRE, FIRE, and Fat FIRE numbers?

neb2020 wrote: Sun Jan 10, 2021 5:17 pm
For those planning to moFIRE with $250k/yr, what are you spending your money on?
I think it would be really simple to travel in such a way that made it easy to spend that much annually. There are plenty of hotel rooms/bungalows/private islands that cost >$1,000 a night. If I had the means, I would love to travel that way. I could happily travel for months at a time, flying first class, eating $300 dinners every night and staying at the best hotels.
by mak1277
Mon Jan 11, 2021 7:34 am
Forum: Personal Finance (Not Investing)
Topic: What are your Lean FIRE, FIRE, and Fat FIRE numbers?
Replies: 307
Views: 36433

Re: What are your Lean FIRE, FIRE, and Fat FIRE numbers?

Wanderingwheelz wrote: Sun Jan 10, 2021 12:16 pm
mak1277 wrote: Sun Jan 10, 2021 9:14 am LeanFIRE is not a thing for me. I have no interest or desire to retire on an annual spend less than my current spending ($80k give or take). I *could* survive on significantly less than that but would never retire willingly to do so.
If you have kids and a mortgage now, your retirement dollars will go a lot further. So looking at it that way it wouldn’t be a leanfire once you’ve eliminated big expenses you currently have (assuming your do).

I don’t think leanfire is a thing for any of us here.
I haven't had a mortgage for years, and I plan on retiring before my kid is in kindergarten, so that expense will continue.
by mak1277
Sun Jan 10, 2021 9:14 am
Forum: Personal Finance (Not Investing)
Topic: What are your Lean FIRE, FIRE, and Fat FIRE numbers?
Replies: 307
Views: 36433

Re: What are your Lean FIRE, FIRE, and Fat FIRE numbers?

LeanFIRE is not a thing for me. I have no interest or desire to retire on an annual spend less than my current spending ($80k give or take). I *could* survive on significantly less than that but would never retire willingly to do so.
by mak1277
Fri Jan 08, 2021 4:03 pm
Forum: Personal Investments
Topic: Should I sell my Tesla [stock] now or wait?
Replies: 43
Views: 3518

Re: Should I sell my Tesla [stock] now or wait?

Blogian wrote: Fri Jan 08, 2021 3:44 pm You should set an AA and stick to it... like ARKK 's 10% rule for TSLA
And we should all eat more vegetables, but for some of us that's just never going to happen.
by mak1277
Fri Jan 08, 2021 3:19 pm
Forum: Personal Investments
Topic: Should I sell my Tesla [stock] now or wait?
Replies: 43
Views: 3518

Re: Should I sell my Tesla [stock] now or wait?

Tesla was selling for about 250 to 350 until about December of 2019, then it jumped to about $1,500 by August 2020 when it did a 5 for 1 stock split, $300 after the split. When I heard about the pending split, I bought mine on August 8 for $15,010 a share, $302 after the split. As I write this in the middle of the day on January 8th, the price is now at $872, a 189% gain in only 5 months. If I can hold my shares until August, I can get a nice LTCG and manage my IRA income so that I can take that income tax free, but I risk a huge drop if the value goes back to pre-spike levels. What is everyone else’s opinion on how the price for TSLA will react over the next 8 months? I bought some a little over a month ago and it's up nearly 50% just sin...