Search found 209 matches

by fortunefavored
Sat Nov 28, 2020 9:09 pm
Forum: Personal Finance (Not Investing)
Topic: How can I reduce my annual expenses: Budget help
Replies: 132
Views: 8740

Re: How can I reduce my annual expenses: Budget help

The OP should not get a free pass for the $1100 "helping out family" category. He needs to look at that as top priority. [snip] As someone who also paid many thousands per month to support disabled & elderly relatives, I can safely say there are HUGE gaps in public assistance that wou...
by fortunefavored
Thu Nov 26, 2020 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: How can I reduce my annual expenses: Budget help
Replies: 132
Views: 8740

Re: How can I reduce my annual expenses: Budget help

The OP should not get a free pass for the $1100 "helping out family" category. He needs to look at that as top priority. [snip] As someone who also paid many thousands per month to support disabled & elderly relatives, I can safely say there are HUGE gaps in public assistance that wou...
by fortunefavored
Thu Nov 26, 2020 7:06 pm
Forum: Personal Investments
Topic: What happened to GE?
Replies: 48
Views: 6459

Re: What happened to GE?

What happened to GE? It is way oversimplified but Jack Welch basically transitioned GE from being a manufacturing company to being mostly a financial services company. That worked well for a while, until it didn't and in the meantime he and the other executives received what has been call excessive...
by fortunefavored
Wed Nov 25, 2020 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Financial steps to take before being laid off?
Replies: 32
Views: 2727

Re: Financial steps to take before being laid off?

If you get a company match per paycheck (no true up) for your 401k be sure to contribute at least that. Hopefully there was no discrimination for her being chosen for layoff I’m not sure exactly how it works but I think it’s 100% of the first 3%, and then 50% of the second 3%. Mine is a direct 5% o...
by fortunefavored
Wed Nov 25, 2020 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: How can I reduce my annual expenses: Budget help
Replies: 132
Views: 8740

Re: How can I reduce my annual expenses: Budget help

The OP should not get a free pass for the $1100 "helping out family" category. He needs to look at that as top priority. [snip] As someone who also paid many thousands per month to support disabled & elderly relatives, I can safely say there are HUGE gaps in public assistance that wou...
by fortunefavored
Mon Nov 23, 2020 9:02 pm
Forum: Investing - Theory, News & General
Topic: Withdrawal rate for an early retirement
Replies: 428
Views: 23880

Re: Withdrawal rate for an early retirement

I am starting retirement next year with a 5% withdrawal rate from my TIAA account because YOLO. If things go sideways in year 1 I have the ability to cut back on spending. That's great - you should report yearly for the Bogleheads on how it is going. I'm firmly in the camp of "Bogleheads will ...
by fortunefavored
Sat Nov 21, 2020 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Healthcare Sharing(Medishare)-Bogleheads Opinions.
Replies: 15
Views: 1552

Re: Healthcare Sharing(Medishare)-Bogleheads Opinions.

I've followed those threads for years - generally people are happy with these plans until they are not. If you treat insurance as primarily there for catastrophic scenarios (obscure cancer and multi-millions of dollars of care) - your only real choice is one of the ACA plans. If you look at it as &q...
by fortunefavored
Fri Nov 20, 2020 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Health insurance (ACA) for adult child 26+
Replies: 51
Views: 1315

Re: Health insurance for unemployed 26 year old

Not a dependent, but similar family situations in the past.. I would strongly recommend trying the disability path. Once on disability, everything is a lot easier. As you can see from this thread, there are endless gotchas. You will likely need a lawyer to help with this and it may take up to 2+ yea...
by fortunefavored
Wed Nov 18, 2020 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: Prop 19 CA Inheritance Property Implications
Replies: 136
Views: 7462

Re: Prop 19 CA Inheritance Property Implications

If a retired person who has lived in the house of a long time is forced to sell or their children do then the state gets a lot more tax dollars. So does the city indirectly. The governor supported Prop 19 and he explicitly talked about older owners paying their "fair" share. I believe the...
by fortunefavored
Wed Nov 18, 2020 5:05 pm
Forum: Investing - Theory, News & General
Topic: Withdrawal rate for an early retirement
Replies: 428
Views: 23880

Re: Withdrawal rate for an early retirement

2% is fine.. 3.5% is fine.. 4%+ is also probably fine. The real question is how much longer you have to work for the perceived security of a lower withdrawal rate. If you need to work a decade (or two) to go from 3.5% to 2%.. that doesn't seem like a good trade to me. 1 or 2 years? Knock yourself ou...
by fortunefavored
Mon Nov 16, 2020 5:16 pm
Forum: Personal Investments
Topic: How to fund gap years in early retirement?
Replies: 15
Views: 1412

Re: How to fund gap years in early retirement?

Seems like you're already okay with 30% in taxable, plus the aforementioned Roth options.

I have the reverse, 70% in taxable. I wish I had more Roth space over the years, so definitely do backdoor (or mega-backdoor) if you have it available.
by fortunefavored
Sun Nov 15, 2020 8:02 pm
Forum: Investing - Theory, News & General
Topic: What is a High Earner bracket
Replies: 119
Views: 8469

Re: What is a High Earner bracket

When higher capital gains (20%) and NIIT started kicking in, that is when I started paying attention. So I'll go with $250-450K. Personally I'd call that "ridiculously rich" but Bogleheads are way on the extreme ends (as you can see in this thread where two people already said $1M is merel...
by fortunefavored
Sun Nov 15, 2020 7:53 pm
Forum: Investing - Theory, News & General
Topic: Retirement number and... taxes?
Replies: 25
Views: 3041

Re: Retirement number and... taxes?

For me I look at as 2 periods - "early" retirement that I have line of sight on, and "late" retirement where who the heck knows what is going on. For "early" retirement - I model it out with capital gains, etc. to get a "real" number - this is critical for me ...
by fortunefavored
Fri Nov 13, 2020 10:27 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 1324
Views: 174531

Re: How much money do you need to retire?

Sorry, guys, those days are gone for today's wannabe retirees. Seems like everything that advances a person now first sets you back way too much, so the gain is minimized. What do you mean by this? Mainly I was thinking of educational opportunities and the rise of student debt. Also, the loss of em...
by fortunefavored
Thu Nov 12, 2020 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 1324
Views: 174531

Re: How much money do you need to retire?

I live in a HCOL area and that definitely wouldn't be true for me. I wouldn't need to move to a LCOL, reduce travel, drive less nice cares, or go without LTC if I decided I need it. I could easily buy the latest toys, fly business class, and do home renovations. And it's not particularly close. Sur...
by fortunefavored
Thu Nov 12, 2020 8:08 am
Forum: Investing - Theory, News & General
Topic: 2.25% Initial Withdrawal Rate.... FIRE?
Replies: 30
Views: 3388

Re: 2.25% Initial Withdrawal Rate.... FIRE?

Expenses & potential future expenses. That's all it really comes down to, and how much buffer or contingencies you have in your plan. That said, I'd go forth and sell your business and then move onto whatever is next (nothing, or something.) Unless you get real lucky, that's gonna take a while a...
by fortunefavored
Mon Nov 09, 2020 7:17 pm
Forum: Personal Investments
Topic: This is another 'can I stop working now?'
Replies: 16
Views: 2678

Re: This is another 'can I stop working now?'

Total expenses are the important thing.. assuming you can get health insurance through your spouse's employer until 65.. you are super done. And even if not, just some more refinement of the numbers and you're probably good. Enjoy!
by fortunefavored
Mon Nov 09, 2020 9:10 am
Forum: Personal Investments
Topic: Can I retire at 49
Replies: 192
Views: 17269

Re: Can I retire at 49

I'll be more optimistic. I think as laid out, it is doable. However.. the RISK is extremely high, as called out by a bunch of people on this thread. Numbers to verify: Expenses - what's the "bare bones" number vs. desired number? This is your floor. Is your pension inflation adjusted? Did ...
by fortunefavored
Sun Nov 08, 2020 11:34 am
Forum: Investing - Theory, News & General
Topic: Estimating early retirement threshold?
Replies: 27
Views: 2502

Re: Estimating early retirement threshold?

3.5% should be safe for most early retirees. 3% should be safe for all early retirees under real world conditions. I think the challenge pointed out, and I agree there are no good answers, is figuring out your expense denominator. The SWR is almost pointless if your expense number has a $50K margin...
by fortunefavored
Sat Nov 07, 2020 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: anyone live on a 'private' road? splitting up costs question
Replies: 59
Views: 4380

Re: anyone live on a 'private' road? splitting up costs question

Personal experience similar to above: split equally, but several people will claim "no money" - so it ends up being split between the few people who can afford it. Usually waiting until it is really really bad and enough people cave in. I hope to avoid it in the future unless it is tied to...
by fortunefavored
Fri Nov 06, 2020 3:29 pm
Forum: Investing - Theory, News & General
Topic: Estimating early retirement threshold?
Replies: 27
Views: 2502

Re: Estimating early retirement threshold?

You take your best guess and take your chances. It is very easy to add endless layers of buffers and padding and conclude you cannot retire early. But in the end, you have to make a personal assessment and roll with it. Usually that includes a fair bit of discretionary spending you can cut back on, ...
by fortunefavored
Fri Nov 06, 2020 11:25 am
Forum: Personal Consumer Issues
Topic: Duties of home health care provider
Replies: 29
Views: 2225

Re: Duties of home health care provider

Has anyone had a provider that was a complete disaster? As in "How can this woman have a job as a provider?" She is handicapped herself. Inconsiderate, annoying, and offensive to boot. Can you fire her and hire someone else? I called the agency and said she was not a good fit. I am starti...
by fortunefavored
Thu Nov 05, 2020 12:55 pm
Forum: Personal Consumer Issues
Topic: United Health One Tri Term Health Insurance differences from ACA plans
Replies: 3
Views: 174

Re: United Health One Tri Term Health Insurance differences from ACA plans

I have looked at several short term plan options, I have not seen one I would trust my life to. They all have caps, long look backs for pre-existing conditions, etc. They might be better than absolutely nothing, but I wouldn't consider them real insurance in the traditional "catastrophic unknow...
by fortunefavored
Thu Nov 05, 2020 8:30 am
Forum: Personal Consumer Issues
Topic: Duties of home health care provider
Replies: 29
Views: 2225

Re: Duties of home health care provider

Unfortunately I have a lot of experience with this - you will probably need to hire a housekeeper too. "health aid" generally will do NO household chores. If it is a private party you can negotiate that, but I found the more non-health related things the person did, the worse they were as ...
by fortunefavored
Wed Nov 04, 2020 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Queries - Always Go with the Lowest OOP Max and Choosing Between Two Plans
Replies: 11
Views: 1081

Re: Health Insurance Queries - Always Go with the Lowest OOP Max and Choosing Between Two Plans

It varies, but there could be other differences like out of network coverage, acceptance by large research hospitals, etc. Most of the cheapest ACA plans have zero out of area coverage other than emergency stabilization, so if you're a traveler (or even someone who regularly is 30 miles from home!) ...
by fortunefavored
Tue Nov 03, 2020 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: Early Retirees (Massachusetts) - Individual Health Insurance
Replies: 13
Views: 1169

Re: Early Retirees (Massachusetts) - Individual Health Insurance

Nope, you're missing nothing. That is the current reality with health care costs going up 6-10% per year for the past decade. Your only "real insurance" choices are manipulating your income to qualify for subsidies or an employer plan. Other options are riskier (health shares, "catast...
by fortunefavored
Mon Nov 02, 2020 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area housing-- sell then rent?
Replies: 28
Views: 1939

Re: Bay Area housing-- sell then rent?

You make 500k per and have 1M equity to rollover. Your can afford to make whatever reasonable decision you prefer. Decide whether your want to own or rent. Do that. It really is that simple. Personally, I'm buying; I'm also doing a contingent sell/buy and moving once. I'm also living off a reasonab...
by fortunefavored
Mon Nov 02, 2020 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area housing-- sell then rent?
Replies: 28
Views: 1939

Re: Bay Area housing-- sell then rent?

You make 500k per and have 1M equity to rollover. Your can afford to make whatever reasonable decision you prefer. Decide whether your want to own or rent. Do that. It really is that simple. Personally, I'm buying; I'm also doing a contingent sell/buy and moving once. I'm also living off a reasonab...
by fortunefavored
Mon Nov 02, 2020 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Health Insurance: Protections from Balance Billing
Replies: 15
Views: 1240

Re: Health Insurance: Protections from Balance Billing

Also for anyone reading this thread, in California, balance billing protection does NOT apply to self-funded insurance plans - ie, nearly every large company self-funds their insurance plans. I am unfamiliar with other state's laws so cannot speak to those. What plans DOES it apply to, then? Oops, ...
by fortunefavored
Sun Nov 01, 2020 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance: Protections from Balance Billing
Replies: 15
Views: 1240

Re: Health Insurance: Protections from Balance Billing

Also for anyone reading this thread, in California, balance billing protection does NOT apply to self-funded insurance plans - ie, nearly every large company self-funds their insurance plans. I am unfamiliar with other state's laws so cannot speak to those. As per my understanding this is not accur...
by fortunefavored
Sun Nov 01, 2020 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance: Protections from Balance Billing
Replies: 15
Views: 1240

Re: Health Insurance: Protections from Balance Billing

Also for anyone reading this thread, in California, balance billing protection does NOT apply to self-funded insurance plans - ie, nearly every large company self-funds their insurance plans. I am unfamiliar with other state's laws so cannot speak to those.
by fortunefavored
Sun Nov 01, 2020 5:55 pm
Forum: Personal Investments
Topic: Portfolio Analysis: Can We Retire Early?
Replies: 14
Views: 2293

Re: Portfolio Analysis: Can We Retire Early?

Thanks for the review it was eye-opening especially in regards to health care as the $70k in yearly expenses does not include that. What would be a safe number to budget each year for a couple in good health using the ACA (assuming it is still around post-election) assuming no subsidies? Next, have...
by fortunefavored
Sun Nov 01, 2020 12:38 pm
Forum: Personal Consumer Issues
Topic: Has anyone bought a Mazda cx5?
Replies: 37
Views: 2605

Re: Has anyone bought a Mazda cx5?

I bought the last of the non-turbo model.... I don't like turbo's and wanted a smaller car for my spouse to use around town so was ideal on paper. Reliability has been good. It's developed a couple of small rattles, so build quality is okay but it does not last. Driving is fine for what it is. Inte...
by fortunefavored
Sun Nov 01, 2020 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Retiring from a megacorp - timing considerations?
Replies: 24
Views: 2909

Re: Retiring from a megacorp - timing considerations?

Random: At most megacorps, put your last day in as the 1st day of the month - then you get a whole month of benefits for working 1 day.

Also don't discuss volunteering for a layoff until you're past the date you want to work. No need to take that risk in advance.
by fortunefavored
Sat Oct 31, 2020 3:01 pm
Forum: Personal Consumer Issues
Topic: Value of Quicken?
Replies: 73
Views: 3536

Re: Value of Quicken?

My favorite update since they went subscription: Replacing the transaction button labeled "SAVE" with an icon of a 5.25" floppy disk. Says it all really. :)
by fortunefavored
Fri Oct 30, 2020 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: obamacare / ACA Individual Plan Premiums for 2021
Replies: 62
Views: 4178

Re: obamacare / ACA Individual Plan Premiums for 2021

Given healthcare expenses have been rising ~6% per year since 2010, why would we expect anything less than that? Additionally those "old" plans were pretty terrible, they were really only useful if you were healthy and never planned to get sick. Otherwise you'd be abandoned in a pool of ot...
by fortunefavored
Fri Oct 30, 2020 4:01 pm
Forum: Investing - Theory, News & General
Topic: Christine Benz on FIRE (Financial Independence Retire Early)
Replies: 44
Views: 4762

Re: Christine Benz on FIRE (Financial Independence Retire Early)

I've had several tech colleagues retire in their early 40s in the last year as our company offered voluntary separation packages. All said they had saved up enough money and wanted to find other things to do with their time, which may or may not include paid employee or entrepreneurship. None of th...
by fortunefavored
Fri Oct 30, 2020 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Using PayPal vs credit card for purchase
Replies: 12
Views: 1008

Re: Using PayPal vs credit card for purchase

Looking to make a purchase at Best Buy. I see they accept PayPal for payment. My Chase Freedom card gives 5% reward for PayPay this quarter and is linked to my PP account. Do I lose any card benefits (Purchase Protection or Extended Warranty) by using PayPal vs just paying direct with a credit card...
by fortunefavored
Thu Oct 29, 2020 8:37 am
Forum: Personal Finance (Not Investing)
Topic: Health Insurance for Adult Children Over 26
Replies: 20
Views: 1913

Re: Health Insurance for Adult Children Over 26

Just a warning on "catastrophic" plans, most of these are terrible, including max payout limits (which is sort of the point of a catastrophic plan.) They are aggressively sold by brokers because they are highly profitable. I'd guess full price ACA Bronze plan will be the most realistic cho...
by fortunefavored
Wed Oct 28, 2020 3:17 pm
Forum: Personal Investments
Topic: Is 0.35 gross expense ratio reasonable for a Fidelity target date fund?
Replies: 20
Views: 1554

Re: Is 0.35 gross expense ratio reasonable for a Fidelity target date fund?

My 401k is similar, so I split the difference - new contributions to a target date fund, then once/year I do a rebalance across all my accounts using the cheaper index offerings. Just less to think about.
by fortunefavored
Wed Oct 28, 2020 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Family finance courses or methods / convincing a spouse (long)
Replies: 84
Views: 5345

Re: Family finance courses or methods / convincing a spouse (long)

Have you tried alternate budgeting methods like YNAB? (You Need A Budget)

I know several similar couples who found great success with it.

Still doesn't change getting on the same page as far as goals, retirement savings, etc. But the mechanism of YNAB is more of a group effort.
by fortunefavored
Sun Oct 25, 2020 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Buying family home but disabled sibling stays?
Replies: 19
Views: 2132

Re: Buying family home but disabled sibling stays?

Ugh, this can get messy very fast. I have multiple family members in various similar situations. 1) Definitely avoid the life estate. Do some reading on how many ways this can go bad. 2) Pay full market price (or a more moderate discount, 10-15%) - have siblings pay for your disabled brother's suppo...
by fortunefavored
Sat Oct 24, 2020 3:23 pm
Forum: Personal Consumer Issues
Topic: Leather Cleaner/Conditioner Recommendations, Please
Replies: 10
Views: 701

Re: Leather Cleaner/Conditioner Recommendations, Please

We bought a mega-expensive set of Ekornes leather sofas, constructed of very high-grade leather. I'd appreciate if anyone has recommendations for a leather cleaner/conditioner for use on our sofas. Many thanks! "We bought a mega-expensive set of Ekornes leather sofas, constructed of very high-...
by fortunefavored
Sat Oct 24, 2020 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: How can I cultivate my love of saving money?
Replies: 50
Views: 4382

Re: How can I cultivate my love of saving money?

A) In summary, their only savings is the house. Good luck with that. B) By not contributing to their tax-advantaged account, they are paying additional income taxes on their expenses. C) In my opinion, holding its value is not good enough to compensate for all the additional income taxes throughout...
by fortunefavored
Sat Oct 24, 2020 1:52 pm
Forum: Investing - Theory, News & General
Topic: Anybody here trying Coast FIRE?
Replies: 317
Views: 26922

Re: Anybody here trying Coast FIRE?

In the USA: I think one of biggest reason why people don't COAST and take lower paying job or working part time, etc . is lack of health insurance if you don't work full time. If there were some sort of universal health care, then people would be more inclined to hop from 1 job to another, work les...
by fortunefavored
Thu Oct 22, 2020 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Housing market and the economy
Replies: 21
Views: 1979

Re: Housing market and the economy

Same boat.. and I don't know either. Cash is trash, bonds are basically zero.. piling into real estate may just be a logical reaction, and then add supply/demand issues (I don't think I looked at a house newer than 1990 yet.. most are 1960s.) I haven't been able to pull the trigger on any of the dum...
by fortunefavored
Wed Oct 21, 2020 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: Financially independent, still working, how to spend the extra cash?
Replies: 70
Views: 4890

Re: Financially independent, still working, how to spend the extra cash?

In a similar situation, here's what I do: 1) Save the extra 2) Calculate a new withdrawal amount (at whatever multiple you're comfortable with, in your case 25X) - so if you saved $150K, increase spending by $6000/year. 3) Spend it (amortizing large things over a useful life.. so.. $50,000 thing tha...
by fortunefavored
Wed Oct 21, 2020 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Software developer about to seek new opportunities -- discuss salary up front?
Replies: 223
Views: 14229

Re: Software developer about to seek new opportunities -- discuss salary up front?

lol reading this thread, I only have one question. Is it too late to go into SW as a 31 year old lawyer? I make a decent amount of money but gosh does the actual work leave a lot to be desired. All these people making 250k, working 40 hours and ENJOYING work. Uncanny. I hate joining in on these thr...
by fortunefavored
Tue Oct 20, 2020 4:47 pm
Forum: Personal Investments
Topic: WSJ Case Study on Retirement
Replies: 48
Views: 6277

Re: WSJ Case Study on Retirement

Most Bogleheads will likely die very wealthy. Income, expenses, withdraw rates are all studied in great depth and nothing less than a 95%+ chance of success is considered enough. The average person doesn’t do most of that. They retire with less and if things get tight, they figure it out as they go...
by fortunefavored
Tue Oct 20, 2020 12:13 pm
Forum: Personal Investments
Topic: WSJ Case Study on Retirement
Replies: 48
Views: 6277

Re: WSJ Case Study on Retirement

The second link (the "free" one) is plagiarized and slightly modified. There's a whole industry around copying articles from legit sources and slightly modifying them to drive traffic from people getting around paywalls. "Like many parents, the couple, who live in the metro Atlanta ar...