Search found 11827 matches

by The Wizard
Fri Aug 03, 2018 8:59 am
Forum: Personal Consumer Issues
Topic: best place to hide a key
Replies: 63
Views: 4624

Re: best place to hide a key

hiding a key while hiking etc (from first post) if you 'hide' the key by the car somehow, someone else finds it and steals the car, could insurance consider this your negligence and not cover the theft? Just asking. I'm guessing many of us have done this key hide thing....but wondered. I never lock...
by The Wizard
Fri Aug 03, 2018 8:53 am
Forum: Personal Consumer Issues
Topic: best place to hide a key
Replies: 63
Views: 4624

Re: best place to hide a key

I don't quite understand the problem, but my newish F-150 has a fob and pushbutton start. So if I wanted to, I could leave my fob hidden in the center console and whoever gets back to my truck first can fire it up and drive away. All you have to do is punch my zip code into the keypad on the driver'...
by The Wizard
Fri Aug 03, 2018 6:40 am
Forum: Personal Consumer Issues
Topic: Phone Rental for South America?
Replies: 15
Views: 686

Re: Phone Rental for South America?

I bought local SIM cards twice, but it took longer than you wanted to get activated and verified. I switched to Google Project Fi and life is good now. I get a welcome to Spain/Italy/Ireland message now when the plane lands and I'm all set, voice and data. Haven't used my smartphone in South America...
by The Wizard
Fri Aug 03, 2018 5:35 am
Forum: Personal Consumer Issues
Topic: light bulb bases
Replies: 4
Views: 501

Re: light bulb bases

Check on amazon.com
You want Edison base vs candelabra base.
There's a numerical designation for these also but I forget the details...
by The Wizard
Thu Aug 02, 2018 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: Car price ratio to NW
Replies: 68
Views: 2681

Re: Car price ratio to NW

That would be true for most folks that are not complete auto fanatics. Spending $10k or $20k per year on recreational travel (my approximate number) has a negative effect on NW too. One must, therefore, accept the concept that maximizing NW is not really the goal. The goal is to achieve a sustainab...
by The Wizard
Thu Aug 02, 2018 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Car price ratio to NW
Replies: 68
Views: 2681

Re: Car price ratio to NW

I can remember buying my current car 21 years ago and the salesman asked me, 'how much can you afford a month'? Even then I knew that question was completely invalid and had nothing to do with purchasing a vehicle. You might think so, but I'll bet that at least 30% of the adult general public look ...
by The Wizard
Thu Aug 02, 2018 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Car price ratio to NW
Replies: 68
Views: 2681

Re: Car price ratio to NW

Wrong question. First question is what do you need. Then think about affordability. Affordability has a lot more to do with cash flow than net worth. +1. Need is the key word. Net Worth has very little to do with the decision making process of buying/choosing a car. The only guarantee thing is buyi...
by The Wizard
Thu Aug 02, 2018 3:09 pm
Forum: Investing - Theory, News & General
Topic: Annuity vs investment
Replies: 40
Views: 2470

Re: Annuity vs investment

This has been a good discussion on the proper role of annuities is in the distribution stage. I don't need an annuity because I have a pension plan and a small SS benefit. IMO they should be outlawed in the accumulation stage because investors will never get stock market returns. There have been hu...
by The Wizard
Thu Aug 02, 2018 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Car price ratio to NW
Replies: 68
Views: 2681

Re: Car price ratio to NW

If you stay under 10% of gross income then that is a conservative but good rule of thumb. Potentially splurge up to 15-20% in exceptions but that'll insure that the car purchase isn't a huge barrier towards building wealth. Maybe. But if you buy a car every ten years, then that seems a bit low. $10...
by The Wizard
Thu Aug 02, 2018 2:48 pm
Forum: Investing - Theory, News & General
Topic: Annuity vs investment
Replies: 40
Views: 2470

Re: Annuity vs investment

This has been a good discussion on the proper role of annuities is in the distribution stage. I don't need an annuity because I have a pension plan and a small SS benefit. IMO they should be outlawed in the accumulation stage because investors will never get stock market returns. There have been hu...
by The Wizard
Thu Aug 02, 2018 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Car price ratio to NW
Replies: 68
Views: 2681

Re: Car price ratio to NW

Wrong question. First question is what do you need. Then think about affordability. Affordability has a lot more to do with cash flow than net worth. +1. Need is the key word. Net Worth has very little to do with the decision making process of buying/choosing a car. The only guarantee thing is buyi...
by The Wizard
Thu Aug 02, 2018 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Car price ratio to NW
Replies: 68
Views: 2681

Re: Car price ratio to NW

...Well, if my finances were otherwise identical but I also owned a $5M paid off house, that would certainly make my financial picture quite a bit better. You can always get a HELOC. Getting a HELOC for the main purpose of buying an expensive car doesn't sound like a really well thought out plan, b...
by The Wizard
Thu Aug 02, 2018 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Car price ratio to NW
Replies: 68
Views: 2681

Re: Car price ratio to NW

...Well, if my finances were otherwise identical but I also owned a $5M paid off house, that would certainly make my financial picture quite a bit better. You can always get a HELOC. Getting a HELOC for the main purpose of buying an expensive car doesn't sound like a really well thought out plan, b...
by The Wizard
Thu Aug 02, 2018 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: Car price ratio to NW
Replies: 68
Views: 2681

Re: Car price ratio to NW

Car price should be based on annual income, not net worth. My last new car purchase, a 2016 F-150, was a bit less than half my annual income... Half annual income seems like a lot unless your net worth is really high in proportion. I'm sure it can be done, but probably not the most BH purchase. Of ...
by The Wizard
Thu Aug 02, 2018 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Car price ratio to NW
Replies: 68
Views: 2681

Re: Car price ratio to NW

Car price should be based on annual income, not net worth. My last new car purchase, a 2016 F-150, was a bit less than half my annual income... sure but it is still X% of your NW, what was that % at that time? Something less than 5% of my net worth, without being too exact. Of course, I'm retired, ...
by The Wizard
Thu Aug 02, 2018 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Car price ratio to NW
Replies: 68
Views: 2681

Re: Car price ratio to NW

Car price should be based on annual income, not net worth.
My last new car purchase, a 2016 F-150, was a bit less than half my annual income...
by The Wizard
Thu Aug 02, 2018 10:19 am
Forum: Investing - Theory, News & General
Topic: Annuity vs investment
Replies: 40
Views: 2470

Re: Annunity vs investment

So an annuity is 6% return when you are 65, right? If you assume expected inflation of 4%, you are even on your retirement income If you don't want to leave any inheritance, it seems an awesome deal to me. It varies. I got 6.53% payout at age 63 with ten year guarantee, and 7.04% at age 67. My imme...
by The Wizard
Wed Aug 01, 2018 3:06 pm
Forum: Personal Consumer Issues
Topic: Phone Rental for South America?
Replies: 15
Views: 686

Re: Phone Rental for South America?

It is an AT&T Phone that is now on Verizon and Verizon is saying it will not work. Roosevelt. Verizon is possibly wrong. We'd need to know the phone and its radio details to be sure. At&t is GSM while Verizon is CDMA, so that tells me it's a versatile phone that might work anywhere with proper SIM ...
by The Wizard
Wed Aug 01, 2018 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: DW job in dangerous area
Replies: 90
Views: 6690

Re: DW job in dangerous area

This is arguably the best website for Chicago's gun violence:
https://heyjackass.com

Scroll down a ways to the map of deadliest neighborhoods...
by The Wizard
Tue Jul 31, 2018 3:49 pm
Forum: Investing - Help with Personal Investments
Topic: Contribution to backdoor Roth, lump sum or?
Replies: 6
Views: 381

Re: Contribution to backdoor Roth, lump sum or?

It's simpler to do it all at once, but if you don't have enough money to fund it all at once doing it monthly is fine. You just don't want the money sitting in the trad ira because if it earns interest it makes the 8606 more complicated... Tax software handles tIRA gains prior to Roth conversion ju...
by The Wizard
Tue Jul 31, 2018 2:03 pm
Forum: Investing - Help with Personal Investments
Topic: Roth conversion questions
Replies: 17
Views: 1492

Re: Roth conversion questions

I would do Roth conversions to levelize my Adjusted Gross Income before and after age 70, mostly ignoring tax brackets, but paying some attention to IRMAA thresholds.
You'll need to put together a spreadsheet to do this right...
by The Wizard
Sat Jul 28, 2018 1:12 am
Forum: Personal Finance (Not Investing)
Topic: Nailing Down Income Requirement in Retirement
Replies: 37
Views: 3573

Re: Nailing Down Income Requirement in Retirement

Getting back to the OP's question: at age 44 with 18 years to go, it's hard to say. I targeted similar net income in retirement as my final working years. This was my DESIRED income, not REQUIRED income, meaning that it exceeds my basic expenses by a fair amount and allows considerable travel. YMMV ...
by The Wizard
Fri Jul 27, 2018 8:07 pm
Forum: Investing - Help with Personal Investments
Topic: Questions on avoiding taxes when changing investments in a taxable account
Replies: 10
Views: 905

Re: Questions on avoiding taxes when changing investments in a taxable account

Betterment tends to do tax loss harvesting on your holdings when feasible. This will increase your capital gains when you sell everything.
So it's important to be aware of all your lots and probably hold them until gains achieve long-term status...
by The Wizard
Fri Jul 27, 2018 1:14 pm
Forum: Personal Consumer Issues
Topic: Tips for staying active / injury-free into older age
Replies: 130
Views: 9258

Re: Tips for staying active / injury-free into older age

One thing I still do at age 68 is cut and split tons of firewood each year for both my house and the girlfriend's house. This involves dropping entire oak trees on a ten acre lot, dragging them out with a pickup, steel cable, chains and/or ropes. Then the tree is cut into 20", 40", or 60" lengths (d...
by The Wizard
Fri Jul 27, 2018 10:28 am
Forum: Local Chapters and Bogleheads Community
Topic: RIP investor
Replies: 22
Views: 4046

Re: RIP investor

It's good that certain members keep track of others IRL.
We should have a rule about that...
by The Wizard
Fri Jul 27, 2018 3:41 am
Forum: Investing - Help with Personal Investments
Topic: advice on contributing to IRA and backdoor Roth
Replies: 17
Views: 1304

Re: advice on contributing to IRA and backdoor Roth

...For this to be most effective I would have to contribute to an IRA and very soon convert to a Roth to avoid taxes on potential gains. Also when converting to a Roth are investments sold and re-purchased again? I am assuming so because the Roth will be a brand new account? I know the IRS gave som...
by The Wizard
Fri Jul 27, 2018 3:00 am
Forum: Investing - Help with Personal Investments
Topic: keep cash in after-tax for bridge to Social Security ?
Replies: 32
Views: 2677

Re: keep cash in after-tax for bridge to Social Security ?

I didn't realize this went against conventional wisdom. Come to think of it, where else would you even hold the cash for this purpose? When I've presented my portfolio here, people have objected to my holding CDs and such in after-tax, because the interest/dividends are ordinary income. They've wan...
by The Wizard
Wed Jul 25, 2018 8:10 am
Forum: Investing - Help with Personal Investments
Topic: Roth IRA conversion questions
Replies: 6
Views: 588

Re: Roth IRA conversion questions

...and you don't really need the expense of a CPA to do Roth conversions.
Convert the entire 2017 today if you want. It's probably grown to $5560 or so by now, which is fine. The 1099 you get next February will have the small gain on it...
by The Wizard
Wed Jul 25, 2018 8:02 am
Forum: Investing - Help with Personal Investments
Topic: Roth IRA conversion questions
Replies: 6
Views: 588

Re: Roth IRA conversion questions

It's perfectly legal to do the entire backdoor Roth in a matter of days. Contribute the entire amount to your tIRA, wait as needed for it to settle, then convert to Roth. If you have existing funds in a tIRA, it may complicate things. It depends on the pre-tax/post-tax split. You can use a MM fund i...
by The Wizard
Mon Jul 23, 2018 5:16 pm
Forum: Personal Consumer Issues
Topic: Tornadoes in Iowa,Nebraska,KC In August
Replies: 46
Views: 2441

Re: Tornadoes in Iowa,Nebraska,KC In August

OP forgot about Kansas, where I went to high school.
Kansas is a great place to find tornados in the April, May, June season.
After that, less so.
Enjoy...
by The Wizard
Mon Jul 23, 2018 2:20 pm
Forum: Investing - Theory, News & General
Topic: Book recommendations on how to retire
Replies: 7
Views: 682

Re: Book recommendations on how to retire

There are excellent books on retirement listed under "Retirement" in the wiki's "Book: Recommendations and Reviews," some of them already mentioned here such as the Jane Bryant Quinn book, which has a good section on buckets: https://www.bogleheads.org/wiki/Books:_recommendations_and_reviews Many o...
by The Wizard
Mon Jul 23, 2018 2:10 pm
Forum: Personal Consumer Issues
Topic: Engineers come in.
Replies: 108
Views: 7648

Re: Engineers come in.

Dude2 wrote:
Mon Jul 23, 2018 3:45 am
The attrition rate is massive. ME and EE are almost all math.
Actually, there's a fair amount of physics in there, too...
by The Wizard
Sun Jul 22, 2018 11:26 am
Forum: Personal Consumer Issues
Topic: WSJ Article on Aging -- Scary Stuff..
Replies: 16
Views: 2071

Re: WSJ Article on Aging -- Scary Stuff..

littlebird wrote:
Sun Jul 22, 2018 11:24 am
livesoft wrote:
Sun Jul 22, 2018 11:17 am
Full disclosure: Both my parents are dead. Both my spouse's parents are dead.
Then it’s not about parents any more, it’s about YOU.
Yes indeed. The Fickle Finger of Fate is on well lubricated bearings...
by The Wizard
Sun Jul 22, 2018 11:24 am
Forum: Personal Consumer Issues
Topic: WSJ Article on Aging -- Scary Stuff..
Replies: 16
Views: 2071

Re: WSJ Article on Aging -- Scary Stuff..

Perhaps triceratops will post a link to the article outside the wsj firewall?
by The Wizard
Sun Jul 22, 2018 8:50 am
Forum: Investing - Theory, News & General
Topic: Robert Merton on NewRetirement Podcast
Replies: 46
Views: 4953

Re: Robert Merton on NewRetirement Podcast

As part of the pension/annuity dichotomy, it's amusing to ponder alternate statements using the two words. For example: 1) I am someone who has generally not been a fan of annuities. vs 2) I am someone who has generally not been a fan of pensions. Do the two statements above reflect a consistent mi...
by The Wizard
Sat Jul 21, 2018 1:40 pm
Forum: Investing - Theory, News & General
Topic: TIAA - Full POA *not* enough for all tasks any more - need "Guardianship" ??
Replies: 29
Views: 1977

Re: TIAA - Full POA *not* enough for all tasks any more - need "Guardianship" ??

tibbitts wrote:
Sat Jul 21, 2018 11:09 am
The Wizard wrote:
Sat Jul 21, 2018 11:04 am

The M* forums have been down for two days and running...
Really? Wow. It works now in read-only mode but I haven't tried posting.
You're right, it's back now...
by The Wizard
Sat Jul 21, 2018 11:19 am
Forum: Personal Finance (Not Investing)
Topic: A different take on retirement income: time segmentation
Replies: 179
Views: 12081

Re: A different take on retirement income: time segmentation

Wow, that's bit dire, don't you think? I think it is prudent to plan for the worse. While I'm working I have a 6 month emergency fund. I think when I retire I'll want a 2 year emergency fund. Yes it will be a drag on total returns. But once I retire it is unlikely I'll want, or be able, to find ano...
by The Wizard
Sat Jul 21, 2018 11:04 am
Forum: Investing - Theory, News & General
Topic: TIAA - Full POA *not* enough for all tasks any more - need "Guardianship" ??
Replies: 29
Views: 1977

Re: TIAA - Full POA *not* enough for all tasks any more - need "Guardianship" ??

Well, this is discouraging. What if the situation involved a durable financial power of attorney? In the next year or three, I'll be considering where to move some 401k and 403b monies. I have a very favorable 403b TIAA contract with TIAA, and if I could, I would probably choose to add it to my TIA...
by The Wizard
Sat Jul 21, 2018 8:40 am
Forum: Investing - Theory, News & General
Topic: TIAA - Full POA *not* enough for all tasks any more - need "Guardianship" ??
Replies: 29
Views: 1977

Re: TIAA - Full POA *not* enough for all tasks any more - need "Guardianship" ??

I'm a little puzzled why POA or beyond is needed if DH is not presently incapacitated or in the early stages of losing it mentally. What exactly is it that needs to be done on the TIAA website when DH is in a meeting or out of town? And why can't he do it himself in a few hours. And I use the Androi...
by The Wizard
Fri Jul 20, 2018 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: A different take on retirement income: time segmentation
Replies: 179
Views: 12081

Re: A different take on retirement income: time segmentation

Definitely no guarantee on my annuity payments not going down. To do so would require some sort of creative foolishness, the sort that tends to give variable annuities a bad name. As a practical matter, my TIAA Traditional annuities are quite unlikely to have a decrease in monthly payout. And unlik...
by The Wizard
Fri Jul 20, 2018 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: A different take on retirement income: time segmentation
Replies: 179
Views: 12081

Re: A different take on retirement income: time segmentation

...Unfortunately, decent annuitization options like these aren't available to the general public. And to the point of this thread, annuity and SS income more than cover my basic/essential expenses, making my remaining portfolio available for discretionary expenses... If these decent annuitization o...
by The Wizard
Fri Jul 20, 2018 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: A different take on retirement income: time segmentation
Replies: 179
Views: 12081

Re: A different take on retirement income: time segmentation

Since your annuity payouts did not seem to include an inflation rider, that, along with you being a single male, explains the higher payout ratio. But over the long-term, you'll likely at least keep pace with inflation and probably do better. I'm glad that I'll have access to TIAA's annuities; they...
by The Wizard
Fri Jul 20, 2018 10:49 am
Forum: Personal Finance (Not Investing)
Topic: A different take on retirement income: time segmentation
Replies: 179
Views: 12081

Re: A different take on retirement income: time segmentation

What do you think of the theory that the SPIA allows for a more aggressive equity portfolio that likely will lead to more growth and likely more legacy? I don't buy it. Buying a SPIA is not likely to provide retirees with a meaningfully greater amount in their portfolio to allocate to equities. The...
by The Wizard
Fri Jul 20, 2018 7:40 am
Forum: Investing - Help with Personal Investments
Topic: $800,000 Windfall. Love the 3-Fund portfolio approach. Wealth Managers in contact
Replies: 33
Views: 4205

Re: $800,000 Windfall. Love the 3-Fund portfolio approach. Wealth Managers in contact

How did those Wealth Managers find out about your windfall? Was there something in the paper about it or did you solicit them yourself? Doesn't matter much at this point, but the general recommendation of not publicizing your wealth is a good one, preventing both shark attacks and assorted requests ...
by The Wizard
Thu Jul 19, 2018 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirement
Replies: 145
Views: 14069

Re: Early retirement

We seem to have this disagreement about what "retired" means pretty regularly. It is generally a subjective thing to many people. I don't personally care what people want to call themselves. But, for the purposes of conversations, it does help to have common meaning for words. Perhaps we could bene...
by The Wizard
Wed Jul 18, 2018 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion
Replies: 8
Views: 1288

Re: Roth conversion

$50k may be too much to convert cost effectively.
I use income leveling to figure how much to convert.
Find the amount to convert in 2018 such that your AGI for 2018 and 2019 are the same.
Can you compute that?
by The Wizard
Wed Jul 18, 2018 7:10 pm
Forum: Local Chapters and Bogleheads Community
Topic: Post your Financial Milestone Announcements Here
Replies: 477
Views: 46310

Re: Seven figure milestone

We have a continuing separate thread for good announcements like this.
Perhaps LG will merge this one....
by The Wizard
Wed Jul 18, 2018 3:24 pm
Forum: Investing - Help with Personal Investments
Topic: rollover TIAA SRA to Roth IRA - which institution and funds?
Replies: 3
Views: 263

Re: rollover TIAA SRA to Roth IRA - which institution and funds?

Only thing worth holding in a Roth IRA at TIAA is TREA. Everything else has high ERs compared to most RA/SRA plans. I presently have $1500/month being converted from my SRA (pro rata) to TREA in my Roth there. I may do an additional lump conversion in December depending on certain things. A while ag...
by The Wizard
Wed Jul 18, 2018 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: A different take on retirement income: time segmentation
Replies: 179
Views: 12081

Re: A different take on retirement income: time segmentation

People are suspicious of insurance companies taking their money for single premium lifetime payout annuities and taking a hefty sales commission on the transaction. This happens even though SPIA overhead/profit is said to be "low". What I'd like to see is the Society of Actuaries come out with annua...
by The Wizard
Wed Jul 18, 2018 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirement
Replies: 145
Views: 14069

Re: Early retirement

We seem to have this disagreement about what "retired" means pretty regularly. It is generally a subjective thing to many people. I don't personally care what people want to call themselves. But, for the purposes of conversations, it does help to have common meaning for words. Perhaps we could bene...