Search found 1397 matches

by JDCarpenter
Thu May 11, 2017 5:34 pm
Forum: Personal Investments
Topic: Help appreciated, if you can be patient with a newbie
Replies: 12
Views: 1854

Re: Help appreciated, if you can be patient with a newbie

Thank you all very much for the advice and the basic suggestions are what I suspected I'd read, so it's nice validation. I have a lot of reading to do. I'll get into this more for myself later, but for a "passive 3 fund portfolio" what are some funds that you would recommend for someone with a new ...
by JDCarpenter
Thu May 11, 2017 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Who really needs an umbrella insurance?
Replies: 40
Views: 8563

Re: Who really needs an umbrella insurance?

... How much human capital do you have remaining? ... This. We had umbrella before we had much in the way of assets. Similarly, I recommended much higher than minimum liability limits for my son when he bought a clunker car when in law school... Most states allow a judgment to be enforced for 10 or...
by JDCarpenter
Thu May 11, 2017 1:17 pm
Forum: Personal Consumer Issues
Topic: What newspaper or magazine do you pay for?
Replies: 107
Views: 9621

Re: What newspaper or magazine do you pay for?

One I forgot earlier (edit would get lost in long thread): Undercurrent. A monthly dive review newsletter/magazine that carries no ads. Well worth the $40 a year...
by JDCarpenter
Thu May 11, 2017 9:45 am
Forum: Personal Finance (Not Investing)
Topic: How I use I-ORP, and who shouldn't
Replies: 159
Views: 25210

Re: How I use I-ORP, and who shouldn't

... In my continued search for retirement investing and harvesting I found a fantastic book entitled Living Off Your Money by Michael H. McClung. At this site: http://livingoffyourmoney.com/ you can preview the table of contents, download the first 3 chapters for free, and/or purchase an ebook or h...
by JDCarpenter
Wed May 10, 2017 7:41 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America Preferred Rewards vs. Wealth Management
Replies: 26
Views: 19819

Re: Bank of America Preferred Rewards vs. Wealth Management

That is nice to know--I had no particular interest in warehousing more ETFs at M.Edge given that we had "reached the top" of the rewards.... Wonder why they don't have this in the preferred rewards table, or at least footnote it? I've been debating which brokerage firm to open an account with to ge...
by JDCarpenter
Tue May 09, 2017 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America Preferred Rewards vs. Wealth Management
Replies: 26
Views: 19819

Re: Bank of America Preferred Rewards vs. Wealth Management

See the 3rd from the bottom post on this page: https://www.fatwallet.com/forums/finance/1335073?start=530 It indicates there is Merrill Edge Premium at 250K and you stay in preferred rewards. By phone they told me this happens automatically at 3 month average balance 250K+ and that I should receive...
by JDCarpenter
Tue May 09, 2017 1:19 pm
Forum: Personal Consumer Issues
Topic: What newspaper or magazine do you pay for?
Replies: 107
Views: 9621

Re: What newspaper or magazine do you pay for?

WSJ (digital and hard copy)
Local paper (digital)
Wash. Post (digital)
by JDCarpenter
Tue May 09, 2017 7:31 am
Forum: Personal Finance (Not Investing)
Topic: Stay home with kids?
Replies: 103
Views: 10818

Re: Stay home with kids?

I just don't see the purpose or utility in being a stay-at-home parent when your children are of an age to attend school. It makes no sense to me. Kids are not at school 24x7 even when they're of school age. There are summers, breaks, colds, etc., not to mention making a hot breakfast, volunteering...
by JDCarpenter
Sat May 06, 2017 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Stay home with kids?
Replies: 103
Views: 10818

Re: Stay home with kids?

OP, you don't mention the hours that you and spouse work, or the travel commitments. Those, along with marginal tax rates, were the tilting points for us way back when. I was a big law commercial litigator with a lot of travel. DW was/is a private practice OBG (then in a two person group). We had th...
by JDCarpenter
Fri May 05, 2017 11:40 am
Forum: Personal Investments
Topic: HSA - should I invest with it?
Replies: 6
Views: 1161

Re: HSA - should I invest with it?

I have the same question - and it's not really about whether to do the HSA "AT ALL" but whether to INVEST the money rather than just leave it in cash. ... I guess it depends on the fees involved and I need to verify that. My HSA plan at the employer makes it hard to understand those fees should I c...
by JDCarpenter
Thu May 04, 2017 1:53 pm
Forum: Personal Consumer Issues
Topic: Two night trip
Replies: 9
Views: 1313

Re: Two night trip

Lake Geneva?
by JDCarpenter
Wed May 03, 2017 2:07 pm
Forum: Personal Investments
Topic: Retirement income for 50+ years?
Replies: 167
Views: 20227

Re: Retirement income for 50+ years?

I've done a fair bit of reading/thinking and wondering if I could just start simple: (all in taxable account) 50% VTSAX 50% VWIUX That is reasonable. If the stock market declines then I could shift more into stocks, e.g. if it declines 15% then shift to 80/20 I wouldn't go that route, but I don't h...
by JDCarpenter
Wed May 03, 2017 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Banking in Marriage
Replies: 66
Views: 6649

Re: Banking in Marriage

... I tend to think that couples without a few minor money differences of opinion probably are not talking enough and doing their own thing and not enough big picture. Or, they are on the same page regarding money matters to begin with. (Granted, our incomes have typically been well in excess of sp...
by JDCarpenter
Wed May 03, 2017 10:12 am
Forum: Personal Finance (Not Investing)
Topic: best way to get a handle on expenses?
Replies: 16
Views: 1803

Re: best way to get a handle on expenses?

Quicken. Set it up to download from all accounts with one click. You'll spend less than one hour per month categorizing downloaded transactions, and drill-down is spectacular. Either lump all cash spending into one category or enter the transactions, as you prefer. Warning: Quicken has a "sunsettin...
by JDCarpenter
Wed May 03, 2017 7:46 am
Forum: Personal Finance (Not Investing)
Topic: Banking in Marriage
Replies: 66
Views: 6649

Re: Banking in Marriage

Surprised to see so many people do joint everything. My husband and I married late in life at 35 and 36 in the same city where we met. .... I would have to think that age at marriage makes a difference. We were together 3.5 years before we got married--in grad school, at the advanced ages of 23 and...
by JDCarpenter
Tue May 02, 2017 3:07 pm
Forum: Personal Consumer Issues
Topic: Update Libby library app (My library is switching to Cloud Library from Overdrive: no more kindle!)
Replies: 10
Views: 3411

Re: My library is switching to Cloud Library from Overdrive: no more kindle!

... I've registered my dissatisfaction with library management, first in that the CL app seems several steps backward in ease and utility from Overdrive, but more telling to me is that it makes my kindles bricks other than purchasing content from Amazon. ... Can't really provide insight on these tw...
by JDCarpenter
Tue May 02, 2017 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Banking in Marriage
Replies: 66
Views: 6649

Re: Banking in Marriage

If you search the forum for joint finances, you'll get quite a few hits. Surprised you didn't see anything, as this comes up a lot--although it generally is global couple finances, rather than just a checking account. Amusing how often those threads get into heated debate. The bottom line is to do w...
by JDCarpenter
Mon May 01, 2017 8:34 am
Forum: Personal Investments
Topic: Time to reach 1M and 2M milestones
Replies: 171
Views: 61587

Re: Time to reach 1M and 2M milestones

We took a long time to get to 2, despite high income and 100% equity allocation; was longer from one to two than from end of DW's training to the former. 1 million (for the first time, at least) 1999 (benefited on the way up from a very nonpassive, undiversified investing speculation approach). ... ...
by JDCarpenter
Sun Apr 30, 2017 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Does Retirement Planning impact your job performance?
Replies: 68
Views: 9148

Re: Does Retirement Planning impact your job performance?

... I was raised in a rural farm family, my conscience will never allow me to do a lousy job... .... This, or perhaps rephrased as pride, is what has kept DW and me going after we gave our 2 years notice (a bit more for her actually). Getting harder as we have entered the three month countdown, but...
by JDCarpenter
Fri Apr 28, 2017 9:08 am
Forum: Personal Finance (Not Investing)
Topic: When do you plan to die?
Replies: 164
Views: 17732

Re: When do you plan to die?

For retirement planning I check scenarios with a long life (and expenses to suit). But I have also checked the effects of if I "die early". In this event there won't be my own SS to carry the costs of things, my spouse's portion of my pension will be reduced, etc. So, overall, income is reduced but...
by JDCarpenter
Thu Apr 27, 2017 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 25805

Re: Any regrets living a frugal life for high income/high networth individuals?

Bogleingle wrote:...
"The best things in life are free. The 2nd best things in life are really expensive"

...
Never seen that [Coco Chanel] quote before. Nice!
by JDCarpenter
Wed Apr 26, 2017 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: When does it make sense to start paying down (or off) a low rate mortgage?
Replies: 53
Views: 10314

Re: When does it make sense to start paying down (or off) a low rate mortgage?

I had a related post, and I think #1 and #2 certainly have some impact. If you've found that you are mostly financially independent, but still have a mortgage - then you really aren't independent. Huh? Our mortgage balance could be paid at any time (well, give me a week to transfer some funds aroun...
by JDCarpenter
Wed Apr 26, 2017 10:09 pm
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 25805

Re: Any regrets living a frugal life for high income/high networth individuals?

... Could be, although my point was I would share the money for experiences with the important people in my life instead of tucking it away until I had enough to retire. As far as requiring money, never considered diving an inexpensive activity or one that didn't require dinero. Some dive in local ...
by JDCarpenter
Wed Apr 26, 2017 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 25805

Re: Any regrets living a frugal life for high income/high networth individuals?

... As for myself (and my wife) - our savings rate makes us seem frugal ..., and some of our spending habits are frugal, but our overall spending wouldn't seem frugal to most people. We try to strike a balance between spending on what we enjoy now and saving so we can retire early and hopefully hav...
by JDCarpenter
Wed Apr 26, 2017 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Shouldn't one's "number" be indexed to the current PE ratio?
Replies: 22
Views: 2697

Re: Shouldn't one's "number" be indexed to the current PE ratio?

I'd also highly recommend Living Off Your Money (available on Amazon) that goes into similar (I'd say even more detailed) analysis as the early retirement website. ...l here is a 358 post thread discussing McClung's book (which I own and am going to go through for a second time soon): https://www.b...
by JDCarpenter
Tue Apr 25, 2017 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Personal Finance Software Quicken 2017 Online Version or PC based] , Personal Capital, Mint, or QuickBooks?
Replies: 15
Views: 2764

Re: Personal Finance Software Quicken 2017 Online Version or PC based] , Personal Capital, Mint, or QuickBooks?

... Quicken Premier Positives: It's interactive, I can reconcile my accounts, it is easy to share with Turbo Tax, and if I wanted to spend the extra $120 per year [doubtful] I could pay my bills all in one place Negatives: is not cloud based and somewhat costly [$99] and needs to be updated every 2...
by JDCarpenter
Mon Apr 24, 2017 11:30 am
Forum: Personal Consumer Issues
Topic: Cost of Estate Planning
Replies: 33
Views: 5871

Re: Cost of Estate Planning

Ours was hourly with one of the big South/SE regional firms that my partners use to practice at. Been a while, so don't remember how much it was--but we were hyper-organized and knew what we wanted, so the amount didn't turn out to be too high; less than a thousand, for sure. (included everything, b...
by JDCarpenter
Sat Apr 22, 2017 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: What is the difference between downloaded and online tax software?
Replies: 16
Views: 2353

Re: What is the difference between downloaded and online tax software?

Question from someone who has never used "online" software for this. Can you use the 2016 software in, say, August of this year to project your 2017 liability--and do so without having to input all unchanged data again? Using the prior years for projections with our variable income streams, as well ...
by JDCarpenter
Sat Apr 22, 2017 1:46 pm
Forum: Personal Consumer Issues
Topic: Six pack for barbecue?
Replies: 77
Views: 7776

Re: Six pack for barbecue?

Kenkat wrote:
JDCarpenter wrote:If you were going to my brother's house, that would mean a six pack of natural light.
I thought a 30 pack was the smallest quantity that "Nati Light" came in. :happy
:sharebeer
by JDCarpenter
Sat Apr 22, 2017 1:02 pm
Forum: Personal Consumer Issues
Topic: Six pack for barbecue?
Replies: 77
Views: 7776

Re: Six pack for barbecue?

Agree that you should talk to the host. If you were going to my brother's house, that would mean a six pack of natural light. My sister's would mean miller lite. (Amazingly, our 25 year old would be in this category as well) Any of my friends' houses, I'd get applauded for my ironic approach with th...
by JDCarpenter
Thu Apr 20, 2017 5:20 pm
Forum: Personal Finance (Not Investing)
Topic: Any retired investors take a part-time/seasonal job just to qualify for Roth IRA contributions?
Replies: 3
Views: 950

Re: Any retired investors take a part-time/seasonal job just to qualify for Roth IRA contributions?

We won't consider it; if you have tax-deferred 401k/IRAs, you can convert far more than you can contribute. Plus, I think/expect that we would be loath to take time away from freedom just to put a little something extra away that would most likely be just to benefit our kids/grandkids. (Not quite re...
by JDCarpenter
Thu Apr 20, 2017 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: When does it make sense to start paying down (or off) a low rate mortgage?
Replies: 53
Views: 10314

Re: When does it make sense to start paying down (or off) a low rate mortgage?

We fit most of your criteria, and I don't know if we will pay it off until when/if we sell the house (2.75% 15 year, right at 6 months into it) we have 45 times (pretax) last year's expenses and 25-30 times high expenses of early retirement years. Saving more than we spend post-tax, and even more th...
by JDCarpenter
Thu Apr 20, 2017 12:55 pm
Forum: Personal Consumer Issues
Topic: What To Do With My Car While in NYC
Replies: 32
Views: 4169

Re: What To Do With My Car While in NYC

Right, I'll def need a car again after the year ... So I should just sell it even if it means having to buy a new car shortly after and starting all over again on payments? Why would you need to buy new? Sell it and buy another one used. If you are a new car person, a certified pre-owned would be j...
by JDCarpenter
Thu Apr 20, 2017 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Calling for all the Moms: career and family.
Replies: 42
Views: 6842

Re: Calling for all the Moms: career and family.

... Unfortunately, I have a type A personality. I do everything, most myself, to make sure they are perfect. I also so a "tiger mom". I also have my parents (80s) live with me so I can take care of them. My husband is not happy about it, so it's better for him to be at work. ... Any way to work on ...
by JDCarpenter
Thu Apr 20, 2017 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Calling for all the Moms: career and family.
Replies: 42
Views: 6842

Re: Calling for all the Moms: career and family.

I am not a mom, but "sacrificed" my law career to stay home with kids so wife could continue on trajectory. (Came back in at very good pay when youngest started driving, but obviously nowhere near same level as "could have been.") With two teens, who presumably have most of their days occupied, coul...
by JDCarpenter
Tue Apr 18, 2017 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: What kind of stuff would you never DIY, assuming you could?
Replies: 75
Views: 8111

Re: What kind of stuff would you never DIY, assuming you could?

I've shifted what I do and don't do as I've gotten older (and more financially independent - it no longer bothers me to pay people the way it used to). .... This is so true. Some tasks are enjoyable enough to continue doing even if not technically cost-effective--minor chainsaw work, bush-hogging o...
by JDCarpenter
Tue Apr 18, 2017 9:29 am
Forum: Personal Finance (Not Investing)
Topic: More advice for BigLaw Survivor, please?
Replies: 180
Views: 26445

Re: More advice for BigLaw Survivor, please?

... My curiosity for you and the Bogles on this site is what happens to the taxable spending amount (funds available to spend) each year in the future? In the present you are able to pull the $16,000/month with little or no tax drag. What happens with these issues and the after tax money when...? -...
by JDCarpenter
Tue Apr 18, 2017 8:07 am
Forum: Personal Finance (Not Investing)
Topic: My kids don't care about saving
Replies: 114
Views: 14300

Re: My kids don't care about saving

With all the advice given in this thread to give the kids books on investing, has anyone mentioned that millennials don't read books (or newspapers or anything else printed)? If it isn't on their phone it doesn't exist. Edited to add that I realize there are kindle editions, but seriously, I still ...
by JDCarpenter
Mon Apr 17, 2017 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: More advice for BigLaw Survivor, please?
Replies: 180
Views: 26445

Re: More advice for BigLaw Survivor, please?

I think you might want to plan out converting a big chunk your IRA to a Roth IRA while you are in a near zero tax bracket. I've seen this advice before, and frankly I'm confused. How can I convert a "big chunk?" Aren't I limited to $6500 a year? Let's say, for example, that after selling my condo I...
by JDCarpenter
Fri Apr 14, 2017 5:46 pm
Forum: Personal Consumer Issues
Topic: Anyone else decided not to finish med school?
Replies: 76
Views: 26706

Re: Anyone else decided not to finish med school?

.... My wife is in med school (also came out of public health), and now that she's doing rotations, she spends even less time at home and works odder and longer hours. She comes home exhausted, she sometimes works weekends, and occasionally she even has to pull overnight shifts where I won't see he...
by JDCarpenter
Fri Apr 14, 2017 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Secretly entered two comma club
Replies: 44
Views: 8824

Re: Secretly entered two comma club

... Our daughter's preschool is already expensive ($1200 a month), so private elementary school would be maybe $3-400 more per month. But then when #2 starts preschool and school we'd get hit with the double whammy. There's no obvious silver bullet in the budget to pay for all this. Even if we drop...
by JDCarpenter
Fri Apr 14, 2017 9:39 am
Forum: Personal Consumer Issues
Topic: RV Rental
Replies: 25
Views: 3259

Re: RV Rental

I did all of the driving and it wasn't bad at all. Not much different than a moving truck. I think ours was around 25'. [...] For 10 guys on a college road trip it was great. You know your family, so you'll have to decide what you like. You crammed 10 guys into a 25' RV from CruiseAmerica? Yes. Mig...
by JDCarpenter
Fri Apr 14, 2017 8:56 am
Forum: Personal Finance (Not Investing)
Topic: What constitutes "a lot" of money?
Replies: 81
Views: 13491

Re: What constitutes "a lot" of money?

... This is a very personal issue and everyone will be different. ... I know people who drive Aston Martins but are too cheap to buy nice clothes, or take their family on vacation. To each their own. Agree. As we soon enter retirement, we are more on the spend too much on vacations while wearing ch...
by JDCarpenter
Thu Apr 13, 2017 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: million dollar condo?
Replies: 33
Views: 5109

Re: million dollar condo?

I would not make major life changes until after you have had the kids for a couple of years. Trust me, you look at life differently. Those TV programs you used to watch- now you see the evils in them. The music you used to listen to- now you hear the evil in the lyrics. And the neighborhoods you us...
by JDCarpenter
Thu Apr 13, 2017 2:12 pm
Forum: Personal Consumer Issues
Topic: RV Rental
Replies: 25
Views: 3259

Re: RV Rental

I took our three boys (tweens at the time) and a friend on a lengthy american-west road trip in a class C.

Was a blast.

Just make sure that you are fully aware of mileage surcharges if, for example, you drive 5700 miles in 17 days ....
by JDCarpenter
Wed Apr 12, 2017 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: How to calculate portfolio withdrawal for retirement?
Replies: 12
Views: 1851

Re: How to calculate portfolio withdrawal for retirement?

+1 to livesoft's link. That series is thought provoking. Also agree with him that more information is needed. What has your spending been in the past five years in relationship to your portfolio values? What is your minimum necessary spend? Do you need a constant dollar amount--and, if not, how flex...
by JDCarpenter
Wed Apr 12, 2017 4:13 pm
Forum: Personal Investments
Topic: Im new, Im reading "the Book". Question for my kids....
Replies: 27
Views: 3143

Re: Im new, Im reading "the Book". Question for my kids....

If you don't have a ton of money, why save/invest in separate accounts for kids? Better to save as part of your own nest egg; if it turns out that you don't need it, they'll get it in any event. Plus, by doing it that way, you'll more quickly achieve the minimum amount needed for purchases. If I nee...
by JDCarpenter
Wed Apr 12, 2017 1:21 pm
Forum: Personal Investments
Topic: Retirement Contribution limits
Replies: 8
Views: 1314

Re: Retirement Contribution limits

As a legal matter, you and your wife are treated separately. If you are maxed out, that does not affect her participation in a deferred account (of course, "you" can't contribute to her plan; "she" has to. :happy ) January 2 (since 1/1 is legal holiday) was the earliest you/she/us can contribute to ...
by JDCarpenter
Tue Apr 11, 2017 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: The Stages of Retirement Saving
Replies: 55
Views: 13150

Re: The Stages of Retirement Saving

gasdoc wrote: ...

PoF,
How old are you, if I may ask? I would like to hit that 0.6 FTE at age 60, and 0.0 FTE at age 62, if that works out.

gasdoc
He's 39, maybe 40 now? http://www.physicianonfire.com/about-me/

Came out of the gate fast and with a plan!
by JDCarpenter
Tue Apr 11, 2017 1:06 pm
Forum: Personal Investments
Topic: Forced retirement-Can this work?
Replies: 17
Views: 3183

Re: Forced retirement-Can this work?

How do you spend $450 a day? E.T.A.--for example, a 10 day liveaboard dive boat trip in Fiji for two will run $10,000, excluding gratuities and nitrox.... How many of those are you doing each year ? As many as we can, for as long as we can; why else retire? Our jobs haven't allowed us the travel th...