Search found 311 matches

by MikeWillRetire
Mon Sep 11, 2017 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: Flood Insurance when not in flood plain?
Replies: 41
Views: 4776

Re: Flood Insurance when not in flood plain?

If you believe in the good book, we are all in a floodplain. It just depends on how big the storm is. :happy
by MikeWillRetire
Wed Sep 06, 2017 11:00 am
Forum: Personal Finance (Not Investing)
Topic: When calculating net worth, how do you value your house?
Replies: 167
Views: 13602

Re: When calculating net worth, how do you value your house?

KlangFool wrote:
Wed Sep 06, 2017 8:46 am
midareff wrote:
Wed Sep 06, 2017 8:42 am
I don't count car or home. Should I?
IMHO, no.

KlangFool
Well when you die, your heirs will disagree.
by MikeWillRetire
Sun Sep 03, 2017 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: How old were you when you got your first credit card?
Replies: 46
Views: 3402

Re: How old were you when you got your first credit card?

I was 23 years old in 1985, and I got a Sears card. They were easier to get than other cards back then. Then I got my first Visa card 6 months later.
by MikeWillRetire
Sun Sep 03, 2017 4:40 pm
Forum: Personal Consumer Issues
Topic: Day trips from Las Vegas
Replies: 16
Views: 2150

Re: Day trips from Las Vegas

I did Red Rock Canyon with my kids in the summer. It was beautiful and easy to get to, and they have a nice visitors center. You can stay in the car if you like, and you can make some stops to take some short hikes. We took a gallon of water for each of us, and stopped at various places to walk arou...
by MikeWillRetire
Wed Aug 16, 2017 1:09 pm
Forum: Personal Consumer Issues
Topic: Best Housing To Avoid Noise
Replies: 57
Views: 6230

Re: Best Housing To Avoid Noise

You really have to move out to the country if you want quiet, but then the commute will probably become just as unbearable as the noise was. I chose my neighborhood for ease of commuting, so I put up with noise from I95, airplanes, and the yahoos across the street who tie their barking dogs to the f...
by MikeWillRetire
Tue Aug 01, 2017 11:34 am
Forum: Personal Finance (Not Investing)
Topic: FAFSA: if known result, why complete?
Replies: 44
Views: 3563

Re: FAFSA: if known result, why complete?

My two children do not qualify for financial aid, but they do get some merit scholarship money. So I had to fill out the FAFSA anyway.
by MikeWillRetire
Mon Jul 31, 2017 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Moving to the suburbs - how much can i afford?
Replies: 22
Views: 1540

Re: Moving to the suburbs - how much can i afford?

Well, here is one data point. My wife and I bought a house when we were 30 years old, with a mortgage that was twice our combined incomes. That allowed us to raise two children, pay for private elementary school, save enough for their education at a local state university, pay off the house in 23 ye...
by MikeWillRetire
Tue Jul 18, 2017 5:26 pm
Forum: Personal Consumer Issues
Topic: Favorite Florida "middle" keys restaurant?
Replies: 17
Views: 1958

Re: Favorite Florida "middle" keys restaurant?

For fun, try the Hungry Tarpon in Islamorada at Robbies Marina. You can feed tarpon from the dock while you wait for the food.
by MikeWillRetire
Fri Jul 14, 2017 7:42 pm
Forum: Personal Consumer Issues
Topic: If i turn off central AC will it damage drywalls?
Replies: 38
Views: 4855

Re: If i turn off central AC will it damage drywalls?

Gill wrote:In Florida you wouldn't dare shut off your air conditioner in the summer.
Gill
What do the poor people do?
by MikeWillRetire
Sat Jul 08, 2017 6:52 pm
Forum: Investing - Help with Personal Investments
Topic: Retire at 55 on $41K/yr fixed pension with $1MM portfolio?
Replies: 26
Views: 7381

Re: Retire at 55 on $41K/yr fixed pension with $1MM portfolio?

No, we are suggesting a scenario that could include the OP spending more than claimed. Combined with the scenario of a recession, or two or three or more during his remaining years (perhaps a black swan or two as well), and possible scenario that includes cuts in SS & socialized health programs - t...
by MikeWillRetire
Sat Jul 08, 2017 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Switch to federal job?
Replies: 80
Views: 10313

Re: Switch to federal job?

It really depends on her personality also. After so many years in the private sector, walking into some government offices can be difficult to adjust to. If she expects to be part of a fully functioning team, she may be disappointed. Not always, but some federal offices are not like that. If she is ...
by MikeWillRetire
Tue Jun 27, 2017 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Middle age job blues
Replies: 86
Views: 11472

Re: Middle age job blues

Thank you for all the input. I will try to address some of the follow-up questions. My wife has not worked for many years and unfortunately does not have very good marketable skills and has some speech issues as well. I guess she can look for something in the retail industry etc. as a last resort, ...
by MikeWillRetire
Sun Jun 25, 2017 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Full Insurance Picture
Replies: 10
Views: 1107

Re: Full Insurance Picture

With 6 million in life insurance, I hope you and your wife have a solid relationship :happy
by MikeWillRetire
Sat Jun 17, 2017 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Federal employees considering early out - buyout?
Replies: 44
Views: 6636

Re: Federal employees considering early out - buyout?

Sounds like you have a good understanding of the federal retirement system, so I assume you are aware that your pension will not get a cost of living increase until you turn 62. If so, enjoy your early retirement.
by MikeWillRetire
Thu Jun 08, 2017 1:42 pm
Forum: Personal Consumer Issues
Topic: AAA Cost
Replies: 85
Views: 10931

Re: AAA Cost

Maryland, AAA plus, for a family of four = $350.
by MikeWillRetire
Fri Jun 02, 2017 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 269
Views: 34109

Re: KF's Worst Case Retirement Plan [KlangFool's]

Assuming your expenses are $60k for most of your retired life. From age 54 to 62, you need 8x60k=$480k. At age 62, you and your spouse will receive a total of $30k from SS, so you will need an additional $30k per year from age 62 onward. Assuming a 4%WR, you will need an additional 25x30k=$750k. So ...
by MikeWillRetire
Mon May 15, 2017 7:28 am
Forum: Personal Finance (Not Investing)
Topic: 7 year retirement plan
Replies: 15
Views: 2100

Re: 7 year retirement plan

I come up with an average of $60,000 of yearly spending in retirement. However I would like to bump that avg up to $75,000 to cover any miscellaneous unexpected expenses and travel. ... How much would we need to of saved by age 63 to get us through to age 70 and Social Security without depleting al...
by MikeWillRetire
Tue Apr 11, 2017 9:01 pm
Forum: Personal Consumer Issues
Topic: leaving early from work
Replies: 57
Views: 9172

Re: leaving early from work

I feel for you. Back when my kids were young, my wife and I resorted to using our vacation hours to make our days shorter. I'm glad those days are over.
by MikeWillRetire
Mon Apr 03, 2017 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Young-ish bogleheads: How much (if any) social security do you expect in retirement?
Replies: 88
Views: 7126

Re: Young-ish bogleheads: How much (if any) social security do you expect in retirement?

As long as the generation younger than you is working and contributing, you will get Social Security benefits. So raise your children well, and treat their friends kindly.
by MikeWillRetire
Wed Mar 22, 2017 9:09 am
Forum: Personal Finance (Not Investing)
Topic: How did graduating out of daycare impact your finances?
Replies: 80
Views: 8664

Re: How did graduating out of daycare impact your finances?

When my kids graduated from daycare, I put them in private elementary school. That cost me about the same as daycare. When they graduated from middle school, I put them in public high school. That gave me 4 years to breathe. Now they are in a public university, and it costs me about the same as the ...
by MikeWillRetire
Sat Mar 18, 2017 9:14 pm
Forum: Personal Consumer Issues
Topic: Best place to get eyeglasses / no vision insurance
Replies: 94
Views: 23823

Re: Best place to get eyeglasses / no vision insurance

For single vision glasses, Zenni is great. But you have to have your pupillary distance, and that can be hard to get from optometrists. But if you buy a pair of cheap glasses from Costco, they will put your pupillary distance on your receipt. Save it, and try Zenni the next time.
by MikeWillRetire
Wed Mar 15, 2017 8:02 pm
Forum: Personal Consumer Issues
Topic: Cost of Dental Implant
Replies: 81
Views: 9939

Re: Cost of Dental Implant

I've checked out Affordable Dentures & Implants. None of them seems to offer implant with screwed-in dentures (permanent kind). They only offer implant with snap in dentures. Their prices varies from office to office. ~ $1,000 to $1,400 per implant + add-ons. You're looking at $10K-$12K. http://www...
by MikeWillRetire
Fri Mar 10, 2017 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Total Annual Expenses
Replies: 57
Views: 5525

Re: Total Annual Expenses

Last year my expenses were $138k, not including income tax. In 3 years when the kids are out of college and the house is paid off, my expenses should be $70k. This assumes the kids are successfully launched.
by MikeWillRetire
Tue Mar 07, 2017 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: How much do you spend on food in a year?
Replies: 155
Views: 11071

Re: How much do you spend on food in a year?

I was in the food store a couple of weeks ago, and the lady behind me was buying a large bag of refrigerated dog food containing meat and vegetables. Nice. But then she was also buying a bunch of Lunchables for her kids. The dog eats better than her kids.
by MikeWillRetire
Mon Mar 06, 2017 7:29 pm
Forum: Investing - Help with Personal Investments
Topic: Feeling a little burnt out - look at my financial health and give me the bad news
Replies: 13
Views: 2677

Re: Feeling a little burnt out - look at my financial health and give me the bad news

You are paid so well because the job is stressful. Many people in your situation cope by spending money on vacations, houses, cars, etc. as a way to keep themselves happy. You have chosen to save instead. So you are in a good position. You can change your job. Do it.
by MikeWillRetire
Mon Mar 06, 2017 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: How much do you spend on food in a year?
Replies: 155
Views: 11071

Re: How much do you spend on food in a year?

Family of four, with two in college, Baltimore-DC Metro area:

$11,000 for groceries, toiletries, cleaning supplies, paper goods
$6,0000 eating out.
$10,000 meal plans at college.
by MikeWillRetire
Wed Mar 01, 2017 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: What Car Should I Buy My Daughter as a Graduation Present
Replies: 150
Views: 14175

Re: What Car Should I Buy My Daughter as a Graduation Present

When I graduated from college, I wanted independence. I would not have wanted my parents to buy me a used car. I would have felt obligated to like it.
by MikeWillRetire
Mon Jan 30, 2017 8:48 pm
Forum: Personal Consumer Issues
Topic: Is joining a country club a character flaw?
Replies: 101
Views: 11152

Re: Is joining a country club a character flaw?

I am intrigued by the idea of joining our fancy local country club even though I don't play golf or tennis. I like the idea of having someplace really close that I can go and get dinner, go to the pool, hang out in sort of luxury, and bump into friends and socialize without having to pre-plan. Isn'...
by MikeWillRetire
Sun Jan 29, 2017 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: Civil/Struct Engineers. Public Vs. Private Employment
Replies: 21
Views: 4938

Re: Civil/Struct Engineers. Public Vs. Private Employment

As a civil engineer, I spent my first 11 years in the private sector, and my last 21 years in the government. For me, the decision to move from private to government was based on my wife's desire to have a career too. Private consulting work is very demanding, but more rewarding in comparison to the...
by MikeWillRetire
Sat Jan 28, 2017 6:24 pm
Forum: Personal Finance (Not Investing)
Topic: Determining max amount to spend on a house?
Replies: 27
Views: 4034

Re: Determining max amount to spend on a house?

Based on my personal experience, I would limit the total mortgage amount to an amount equal to twice your gross incomes if you intend to raise a family. That allowed my wife and I to raise two children, and pay for some private schooling and public college.
by MikeWillRetire
Thu Jan 26, 2017 7:37 pm
Forum: Personal Consumer Issues
Topic: 75 gallon hot water heaters
Replies: 40
Views: 6398

Re: 75 gallon hot water heaters

With 4 people taking showers within 15-minutes of each other, my 50-gallon electric water heater just could not handle it unless I turned the thermostat up very high. I installed an 80-gallon water heater a few years ago, before the new regulations. Switch to low-flow shower heads. I'll try that wh...
by MikeWillRetire
Thu Jan 26, 2017 4:03 pm
Forum: Personal Consumer Issues
Topic: 75 gallon hot water heaters
Replies: 40
Views: 6398

Re: 75 gallon hot water heaters

With 4 people taking showers within 15-minutes of each other, my 50-gallon electric water heater just could not handle it unless I turned the thermostat up very high. I installed an 80-gallon water heater a few years ago, before the new regulations.
by MikeWillRetire
Thu Jan 26, 2017 10:43 am
Forum: Personal Finance (Not Investing)
Topic: 1098-T & 529 question
Replies: 17
Views: 2303

Re: 1098-T & 529 question

I have two children at the same university. Here is what I found on their website http://bursar.umd.edu/t_taxInfo.php "Please read the Instructions for Student on IRS Form 1098-T and visit the Additional Resources area below to help you understand your form. The IRS allows institutions to report eit...
by MikeWillRetire
Mon Jan 23, 2017 7:40 pm
Forum: Personal Consumer Issues
Topic: Is Little League Slowly Dying? [Should my kids play this year?]
Replies: 38
Views: 5261

Re: Is Little League Slowly Dying?

It's not just little league. Many of the activities from my youth are just not as popular now because children have so many more choices these days. Boredom is a thing of the past.
by MikeWillRetire
Thu Jan 19, 2017 8:33 pm
Forum: Personal Consumer Issues
Topic: East Coast And Work/Life Balance
Replies: 68
Views: 7967

Re: East Coast And Work/Life Balance

The trick is to work in the Northeast, and retire in Texas.
by MikeWillRetire
Thu Jan 19, 2017 9:24 am
Forum: Personal Finance (Not Investing)
Topic: ok to pull plug and retire?
Replies: 52
Views: 9103

Re: ok to pull plug and retire?

You may even have enough to survive a couple of divorces in retirement.
by MikeWillRetire
Fri Jan 06, 2017 7:27 pm
Forum: Investing - Help with Personal Investments
Topic: 500K milestone celebration
Replies: 74
Views: 9010

Re: 500K milestone celebration

Congrats. I don't know your age, but you are probably in the top 10% to 15% of Americans.
https://dqydj.com/net-worth-by-age-calc ... ed-states/
by MikeWillRetire
Fri Jan 06, 2017 7:20 pm
Forum: Personal Finance (Not Investing)
Topic: What monetary value has your education provided you?
Replies: 107
Views: 7687

Re: What monetary value has your education provided you?

I don't know what the monetary value is. But I am doing much better than my parents did, due to my degree. I have had a solid 32-year career so far. My dad didn't.
by MikeWillRetire
Fri Jan 06, 2017 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Annual Vacation Budget
Replies: 320
Views: 33609

Re: Annual Vacation Budget

$5k for four people. One vacation per year. Represents about 2.5% of gross pay.
by MikeWillRetire
Tue Dec 13, 2016 4:30 pm
Forum: Investing - Help with Personal Investments
Topic: What % of your net income do you save (not including 401k/IRA)
Replies: 59
Views: 6158

Re: What % of your net income do you save (not including 401k/IRA)

Not much. My wife and I have never even been able to max out our 401k's. For the 3 years before we had children, we saved up enough for a house downpayment and an emergency fund. When my kids were in daycare, we saved nothing outside of our 401k's. My kids attended private elementary school, so we d...
by MikeWillRetire
Thu Dec 08, 2016 8:32 pm
Forum: Personal Consumer Issues
Topic: Amazon Prime Getting Stingy?
Replies: 90
Views: 15050

Re: Amazon Prime Getting Stingy?

I remember what it was like ordering things through the mail many years ago, so I can't complain about Amazon. I'm amazed how fast some things get delivered.
by MikeWillRetire
Tue Dec 06, 2016 11:32 am
Forum: Personal Consumer Issues
Topic: Flying Across Atlantic with 98th Percentile 18-Month Child
Replies: 114
Views: 9544

Re: Flying Across Atlantic with 98th Percentile 18-Month Child

Isn't this what grandparents are for? What if one set of grandparents is a 6 hour flight away and the other is a 12hour flight away? Now that I think of it, we're going to see both next summer. The kiddo will be 23months for one trip and 25 months for the other. Consider buying grandma a plane tick...
by MikeWillRetire
Thu Nov 03, 2016 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security While Working at Age 70
Replies: 16
Views: 3150

Re: Social Security While Working at Age 70

Well, maybe she doesn't need it and wants to do her part to help the program.
by MikeWillRetire
Wed Nov 02, 2016 7:32 am
Forum: Personal Finance (Not Investing)
Topic: Payoff Mortgage or Save for College
Replies: 15
Views: 2772

Re: Payoff Mortgage or Save for College

Although tuition and room & board may total $25,000 per year, you probably don't need to save that much. I have two children in college right now, and I have found that the room & board cost is similar to what it costed me to house and feed them while they were in high school. In other words, I saw ...
by MikeWillRetire
Sun Oct 30, 2016 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Too Many CC's? [Credit Cards]
Replies: 35
Views: 5254

Re: Too Many CC's?

rec7 wrote:I like to keep my life simple I have two cards and thought about going to one. My score is around 800
Agree, keep it simple. I have had one credit card since 1985. So has my wife. If there was ever a problem with the card, I could use my debit card. Hasn't happened yet. Credit score 816.
by MikeWillRetire
Mon Oct 17, 2016 7:20 pm
Forum: Personal Finance (Not Investing)
Topic: Money lessons for a 3 year old
Replies: 46
Views: 4120

Re: Money lessons for a 3 year old

only on bogleheads.....
by MikeWillRetire
Mon Oct 10, 2016 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy a townhouse/condo for retirement? Good or bad idea?
Replies: 15
Views: 2477

Re: Should I buy a townhouse/condo for retirement? Good or bad idea?

If you intend to buy cars for your two sons, then move before they turn 16, or reconsider the need to buy them cars.
by MikeWillRetire
Wed Oct 05, 2016 9:08 am
Forum: Personal Consumer Issues
Topic: Roof Drainage
Replies: 14
Views: 1638

Re: Roof Drainage

Those systems are susceptible to clogging from debris and grit. They can also freeze. I used pvc pipes to drain my downspouts and sump pump, but I did not trench them into the ground. I wanted them to drain freely. Instead, I ran the pipes along the foundation wall right on top of the ground. I conn...
by MikeWillRetire
Sun Oct 02, 2016 7:24 pm
Forum: Personal Consumer Issues
Topic: Daughter will study abroad in ireland need advice
Replies: 28
Views: 4283

Re: Daughter will study abroad in ireland need advice

She should pack vitamin D supplements.
by MikeWillRetire
Mon Sep 26, 2016 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: College advice
Replies: 35
Views: 3470

Re: College advice

I have two in college now. Consider your local state universities. Try to avoid the grand tour of out-of-state colleges unless you have the money, or they have very special interests. I have found that the room & board costs are not much higher than what it costs me to house and feed them, as long a...