Search found 1280 matches

by helloeveryone
Thu Mar 14, 2024 12:09 am
Forum: Personal Consumer Issues
Topic: Kid's Accounts and How They Use Them
Replies: 22
Views: 1942

Re: Kid's Accounts and How They Use Them

RJC wrote: Tue Mar 12, 2024 3:25 pm Dear friends,

How do you decide what kids can use their accounts for? Our kids (9,7 yo) have about $400 in each of their accounts.

On one hand, I would like them to buy what they want and enjoy the money. On the other, I'd like them to learn how to save.

What is your strategy for young kids?

Thanks.
this is a great book. The First National Bank of Dad: A Foolproof Method for Teaching Your Kids the Value of Money

we read it and apply those principles
by helloeveryone
Sun Mar 03, 2024 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: How much term life coverage to get for 50 y.o., DINKs, good savings?
Replies: 27
Views: 2860

Re: How much term life coverage to get for 50 y.o., DINKs, good savings?

On the other hand, my loss of income would obviously be felt, mainly for the house costs but also home repairs, travel, and especially investments into retirement plans and old age costs generally. And I don’t want my wife to struggle at all, even knowing that because of all of the above her situation will be far from severe. Thoughts on what I should do here? Bump this up to, say, $500,000? That would double the annual premium from $550 a year to $1,100 a year (and costs to go up for future age brackets by an amount TBD). Stay put? Something else? Would love to know your suggestions and reasons. Welcome to the Forum! Your reasons for wanting life insurance protection on yourself are valid. Many posters above have said "you don't need...
by helloeveryone
Mon Feb 26, 2024 9:48 pm
Forum: Personal Investments
Topic: Questions about Whole Life
Replies: 128
Views: 9626

Re: Questions about Whole Life

Look at this way.

Using a compound calculator - Enter starting balance of $20,200 (money you get if you cancel policy). Enter monthly contributions of $316 a month. (annual premium divided by 12). Compound annually at 9% interest rate for 30 years.

calculator says you have $784,885 after 30 years.

Once you need a term life policy you can just buy one. It’ll be affordable relative to this policy.
by helloeveryone
Sat Feb 17, 2024 9:54 am
Forum: Personal Investments
Topic: Asset Allocation for Early Career Physician: What Would You Do If You Could Do It Again?
Replies: 65
Views: 5142

Re: Asset Allocation for Early Career Physician: What Would You Do If You Could Do It Again?

This question was brought up on the BogleDocs facebook group. We thought it would be beneficial to bring this discussion to the forum for further comment and insight. Asset Allocation for an Early Career Physician - What Would You Do If You Could Do It All Over Again? I'm an early career physician just starting out in practice after residency training. I'm in my mid 30s and plan to work for 30 or so years until retirement. My salary is roughly $800k/year and I maximize tax protected accounts (my practice 401k, personal and spousal ROTH IRAs, individual 401k, HSA, and 529s for our children). I also plan to contribute additional savings to my taxable brokerage account. All in all, we plan to save roughly 30% for retirement each year. I know ...
by helloeveryone
Sun Feb 04, 2024 11:50 am
Forum: Personal Investments
Topic: Do Bogleheads "Buy the Dip"?
Replies: 136
Views: 12632

Re: Do index investors "Buy the Dip"?

To preface, I am a newish (just over a year) index investor that holds a 3 fund portfolio which I DCA into. I'm currently reading the book "The Tao of Charlie Munger" and one of the stories in the book talks about Charlie & Warren Buffett having their own hedge fund. At the time Warren thought everything was overvalued so he wasn't investing and held onto his cash. Charlie however kept investing, and then the market went south. Warren, sitting on plenty of free capital, made his move. Charlie at the time, wasn't able to do that, and it was a big regret. While it will be said that what I'm asking about is "timing the market", and I couldn't even try to counter those comments with a rebuttal, so I will state now, yes ...
by helloeveryone
Thu Feb 01, 2024 10:27 pm
Forum: Personal Investments
Topic: Feedback on "Millionaire Fastlane"
Replies: 69
Views: 7318

Re: Feedback on "Millionaire Fastlane"

1) What is your current portfolio size? ~700k USD. All of it is in VTI and S&P (retirement) except emergency fund which is in MMFs. 2) What is your annual savings/investment? ~160k annually. I just have the rough numbers for 2023. This is expected to be ~200k in 2024. 3) What is your current annual expense? ~80k. But no wife/kids/house. So this will change in future. All values are post-tax. I plugged your data into a compound calculator and in 15 years assuming same savings rate, 9% rate of return - you’ll be 44 and have a portfolio of $8,882,367.20. That’s pretty young and in my mind really fast (due to your high savings rate and staying in a low cost index fund) https://www.investor.gov/financial-tools-calculators/calculators/compou...
by helloeveryone
Thu Feb 01, 2024 10:22 pm
Forum: Personal Consumer Issues
Topic: Mechanical Protection Plans - anyone ever benefit from them?
Replies: 16
Views: 1472

Re: Mechanical Protection Plans - anyone ever benefit from them?

I'm going to present an opposite view on extended warranties but only if you buy cars new and hold them until at least 100k miles. Most people focus on the mechanical systems but forget that the main costs for repairs today are driven by the proliferation of electronic add-ons that usually are not repaired but replaced. It's easy to see a $2k - $3k bill for a damaged bumper with all the sensors and cameras in them today. If you can negotiate a decent price for a 8/80 or even 10/100 warranty it's pretty much guaranteed you will recover any expense and sleep better at night. Long list of what is not covered - accident is one of them. But yes I agree that I’ve heard of the computer system going bad and folks spending $2-3k+ for such things. W...
by helloeveryone
Wed Jan 31, 2024 9:51 pm
Forum: Personal Consumer Issues
Topic: Mechanical Protection Plans - anyone ever benefit from them?
Replies: 16
Views: 1472

Mechanical Protection Plans - anyone ever benefit from them?

The last two cars we have purchased - we negotiate out the door price. Get to finance office. Hard no on every thing they want to sell. Once it’s clear we wont say yes to anything. They say - my manager said we’ll reduce the price of the car by “x” dollars and give you the Mechanical Protection Plan for free. (Platinum level). https://customers.mpp.com/Home/Download?document=MPP2013NPLAT213 First time - read the entire contract when I got home. Turns out you can cancel within 30 days and get that money back. So I did that. (It was ~$850 = and just added 1 year and 12,000 miles to the Toyota warranty). That was in 2021. Recently we traded in an older vehicle - again same as above. They lowered price of car by that warranty. I did the same th...
by helloeveryone
Tue Jan 16, 2024 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: What is the Worst Financial Decision/Mistake You Have Made?
Replies: 657
Views: 133032

Re: What is the Worst Financial Decision/Mistake You Have Made?

RightGuard wrote: Mon May 23, 2022 5:27 pm Bought an extended warranty on a new vehicle.... TWICE! :oops:
My last new car purchase - the finance person told me he’d give me the extended warranty at cost. Basically I had negotiated OTD price, after saying no many times, he said he’d include the warranty at cost and kept the OTD Price. Went home, read the whole contract in detail, it said I could call to cancel. I did that, got some money back, so in the end got below my OTD negotiated price. That felt pretty good.
by helloeveryone
Tue Jan 16, 2024 2:58 pm
Forum: Personal Investments
Topic: Re-allocating VTI & BND
Replies: 12
Views: 1620

Re: Re-allocating VTI & BND

JMK909er wrote: Tue Jan 16, 2024 1:33 pm In my retirement portfolio (265k) I am currently VTI 65% and BND 35% and I am going to re-allocate to 50/50% because I'm getting older (65) so I want to be safer. I live mostly off of my SS and Pension and rarely touch the money except for a vacation once in a while.
I plan on keeping VTI but going forward into 2024 is there a better bond fund to be in or should I keep BND? Thanks!
Total bond fund should be fine. You're still investing for the long term so all the bond "stuff" that happened in last 1-2 years is a small blip in your ongoing investing "career".
by helloeveryone
Tue Jan 16, 2024 2:55 pm
Forum: Personal Consumer Issues
Topic: If you love outdoors/hiking, what do you do in the winter?
Replies: 62
Views: 5759

Re: If you love outdoors/hiking, what do you do in the winter?

Base shirt, base leggings, lots of layers, beanie, gloves.
It still beats not being outdoors.
by helloeveryone
Fri Jan 12, 2024 8:00 pm
Forum: Personal Investments
Topic: My kid asked me for advice! Please advise
Replies: 33
Views: 7631

Re: My kid asked me for advice! Please advise

In addition to the above great recommendations show her what $6,500 with no further investments compounds to in 40 years. Fun tool https://www.investor.gov/financial-tool ... calculator
by helloeveryone
Thu Jan 11, 2024 9:50 pm
Forum: Personal Consumer Issues
Topic: Passport renewal time is now much faster
Replies: 10
Views: 2206

Re: Passport renewal time is now much faster

Post office renewal appointment for kids November 18. Passport arrived December 4. Mail clerk quoted 10-13 weeks.
by helloeveryone
Wed Jan 10, 2024 10:25 pm
Forum: Personal Consumer Issues
Topic: 4Runner - new or used
Replies: 77
Views: 8457

Re: 4Runner - new or used

barnaclebob wrote: Wed Jan 10, 2024 2:49 pm
Goldtrom wrote: Wed Jan 10, 2024 9:50 am And for all part time 4wd you need to drive 10 miles a month in 4wd to keep it properly lubed. Without a center diff that's pretty challenging to do. I happened to have a 10 mile straight road by my house. So I try to drive it once a month.
While the manual says to do this I'd bet very very few actually do it. I need 4wd to get over the curb in reverse onto gravel where i park behind my house but other than that it doesn't go into 4wd except in the snow in winter.
It won’t do it in 2WD? Surprising. Such high low end torque!
by helloeveryone
Tue Jan 09, 2024 11:12 pm
Forum: Personal Investments
Topic: Best suggestion for low effort investment plan
Replies: 10
Views: 1503

Re: Best suggestion for low effort investment plan

So, due to life circumstances I am torn on how to approach my investing. I’m a developer and so constantly obsess over details, but don’t really want to add another item (investment tracking) to the list. I’ve recently begun working with a financial manager who has been really helpful in making sure we have the different things we need for our family’s future (including things like wills that he doesn’t even sell, just makes sure we have). However, the fee to have him manage my investments (currently with Betterment) would be 1.65% which I just can’t stomach (even if I really value his advice - I’d kind of like to just pay him to review our financial state every few years because he’s really good at that). The question I have is, without d...
by helloeveryone
Fri Jan 05, 2024 11:55 pm
Forum: Personal Finance (Not Investing)
Topic: TIME = MONEY: strategies to **SAVE TIME** (even if it costs $)
Replies: 51
Views: 7485

Re: TIME = MONEY: strategies to **SAVE TIME** (even if it costs $)

tommy85 wrote: Fri Jan 05, 2024 8:21 am Paid version of ChatGPT to compose my emails(I do a lot of it and takes substantial time for me since I am always concerned about the tone, grammar etc) and for quick research on a topic I want to know basics of e.g. something happening in news etc.
Can you share examples? or perhaps some websites that talk about this? Sounds amazing. Don’t have a clue where to start.
by helloeveryone
Fri Jan 05, 2024 11:21 pm
Forum: Investing - Theory, News & General
Topic: How did you make your first $1M?
Replies: 148
Views: 33570

Re: How did you make your first $1M?

guiltyspender31660 wrote: Thu Jan 04, 2024 8:32 am Curious to see how you guys made your first million dollars.
20-23% savings rate, 100% went into S&P 500. By the time I got to $1million - we were 80:20 with the bonds being vanguard total bond fund
by helloeveryone
Sat Dec 30, 2023 10:22 am
Forum: Personal Consumer Issues
Topic: Trip report: Everest Basecamp 3 high passes trek 2023
Replies: 63
Views: 20348

Re: Trip report: Everest Basecamp 3 high passes trek 2023

Very important question :happy - what shoes/boots? How much time to break them in? Glad you asked. This was a tough decision. I have always hiked in Vasque shoes (high ankle ) as I have never had to break them in. But the my Vasques were getting fairly old (2018) and worn from all the hiking. And I tore a small part of the top (Gortex) while hiking in Boulder before this hike. So 2 weeks before the trip I went to get another pair at REI. Turns out they stopped selling :oops: . Vasque has started using their own membrane instead of Gortex and online reviews were super negative. So ended up spraying NIKWAX and just used them. Luckily no rain it worked. However I will be getting a new pair and likely to buy La Sportiva. I like lightweight, hi...
by helloeveryone
Sat Dec 30, 2023 10:14 am
Forum: Investing - Theory, News & General
Topic: What are you up YTD? [Year To Date]
Replies: 5249
Views: 899906

Re: What are you up YTD? [Year To Date]

YTD 21.9%
80:20 Fidelity500:Vanguard Total Bond
~20% savings rate.

It surprised me it was up that much given I’m 80:20 but upstream someone mentioned with/without contributions which makes sense. 100% of contributions go into the Fidelity 500 fund b/c right now I find it easier to just rebalance when necessary rather than adjust my allocation in our retirement website.
by helloeveryone
Sat Dec 30, 2023 10:06 am
Forum: Investing - Theory, News & General
Topic: What are you up YTD? [Year To Date]
Replies: 5249
Views: 899906

Re: What are you up YTD? [Year To Date]

KlangFool wrote: Fri Dec 22, 2023 4:32 pm 60/40 portfolio YTD growth with contribution = 21.62%.

60/40 portfolio YTD growth without contribution = 16.18%.

Details of my portfolio is in my signature.

KlangFool
Do you determine the “without contribution” YTD manually?
Just curious - our fidelity YTD includes contributions.
by helloeveryone
Fri Dec 29, 2023 9:57 pm
Forum: Personal Consumer Issues
Topic: Trip report: Everest Basecamp 3 high passes trek 2023
Replies: 63
Views: 20348

Re: Trip report: Everest Basecamp 3 high passes trek 2023

Very important question :happy - what shoes/boots?
How much time to break them in?
by helloeveryone
Fri Dec 29, 2023 9:06 pm
Forum: Personal Investments
Topic: 100K milestone, consolidating to 3-fund, general plan checkup
Replies: 17
Views: 1622

Re: 100K milestone, consolidating to 3-fund, general plan checkup

Your grandfather sounds like a Boglehead, maybe since before there was such a thing. :happy Regards, Maybe he was a Boglefoot? OP- I wouldn't change a thing. I would encourage you to learn/think about and write an IPS (Investment Policy Statement) to help you stay on track as your portfolio develops/increases and the markets shift. It has sure saved me from doing things I might regret or omitting things I should do, like rebalancing. https://www.bogleheads.org/wiki/Investment_policy_statement Even at your desired 90/10 including international, I would get into the habit of rebalancing at your chosen interval or trigger so that if you change your AA down the road, you will already be in the habit. Keep it up! Manual re-balancing is the only...
by helloeveryone
Thu Dec 28, 2023 9:22 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement: what was more expensive than anticipated?
Replies: 80
Views: 19476

Re: Retirement: what was more expensive than anticipated?

bob60014 wrote: Thu Dec 28, 2023 8:44 am Higher-Travel, as we're doing more of it, primarily overseas. Home upgrades-all prices and labor are crazy high.

Lower costs- medical (Medicare&sup) and vehicle related. Not driving as much so maintenance is less than $100/yr, gas $30/mo...maybe.
Is travel significantly cheaper now than when working in terms of being able to take advantage of traveling during less expensive times? (ie - not when kids are out of school)
by helloeveryone
Thu Dec 28, 2023 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement: what was more expensive than anticipated?
Replies: 80
Views: 19476

Re: Retirement: what was more expensive than anticipated?

Sandtrap wrote: Wed Dec 27, 2023 6:31 pm Health Care
(period from ACA early retirement to Medicare coverage was punishing).
Home renovations and additions

j🌺
How much would you allocate to healthcare for someone considering early retirement today? On the forum you see numbers like $20,000 a year. (Not that one would spend that much but to be prepared to spend that much - ie - premiums + the maximum out of pocket/year)
by helloeveryone
Sun Dec 24, 2023 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: how much do you think you need to retire?
Replies: 279
Views: 56398

Re: how much do you think you need to retire?

Padlin wrote: Sun Dec 24, 2023 8:17 pm
helloeveryone wrote: Sun Dec 24, 2023 7:58 pm
Padlin wrote: Thu Dec 21, 2023 8:33 pm 11 years retired, 20X at retirement which was at 56, so far so good, plan to start SS at 70.

If you don’t want to count on 100% of SS being there have more.

Retiring so far from SS, leaves one open to sequence of returns risk, we got lucky.
what age did your SO take Social security? Is 62 generally the recommended age for the lower SS earner to take it?
Not in our case, my SO took it at her FRA, 66 and change. It’s worth running the calculator at Open Social Security with your info to find the most advantageous times for you.
Thks!
by helloeveryone
Sun Dec 24, 2023 7:58 pm
Forum: Personal Finance (Not Investing)
Topic: how much do you think you need to retire?
Replies: 279
Views: 56398

Re: how much do you think you need to retire?

Padlin wrote: Thu Dec 21, 2023 8:33 pm 11 years retired, 20X at retirement which was at 56, so far so good, plan to start SS at 70.

If you don’t want to count on 100% of SS being there have more.

Retiring so far from SS, leaves one open to sequence of returns risk, we got lucky.
what age did your SO take Social security? Is 62 generally the recommended age for the lower SS earner to take it?
by helloeveryone
Wed Dec 20, 2023 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: how much do you think you need to retire?
Replies: 279
Views: 56398

Re: how much do you think you need to retire?

David Jay wrote: Wed Dec 20, 2023 3:37 pm To retire @55: 33x expenses
To retire @60: 30x expenses
To retire @65: 25x expenses

If you can't project your expenses, you can't project your required portfolio balance.
This is my ballpark as well. It’s harder for me to estimate my expenses right now. We know what they are currently but we’re too far away for an accurate estimate of what they might be in 10 years or 15 years or 20 years.
by helloeveryone
Wed Dec 13, 2023 8:18 am
Forum: Personal Finance (Not Investing)
Topic: Learning Something Awesome … But Too Late
Replies: 27
Views: 5732

Re: Learning Something Awesome … But Too Late

gavinsiu wrote: Wed Dec 13, 2023 8:09 am Invest in a Roth. I have save quite a bit of money when I was a teen, but what I didn't know at the time was the existent of a Roth. I could have contributed quite a bit as a teen and gotten ahead of the curve.
This one as well for me. Didn’t invest in Roth until early 40’s. Can never get those years of saving in Roth back.
by helloeveryone
Sun Nov 19, 2023 10:55 am
Forum: Personal Investments
Topic: Called to the Principals office [401(k) investment choices questioned]
Replies: 107
Views: 14055

Re: Called to the Principals office

My company's 401k administrator/financial advisor called me to express concern over my investment choices in the 401k. I have a lot in Fidelity Advisor A. He wondered if I checked my account (!) and was aware that when interest rates rise bond funds lose value. I agreed to meet with him on Monday when he is on site at my company. My overall investment goals are 65% stocks 35% bonds which I think is pretty aggressive for a 58 year old. What the advisor does not know is that my 401k is a very small part of my overall portfolio (401k is 7% of total portfolio). I don't have a lot of tax deferred space. I have added some nominal treasury bonds to my portfolio as interest rates have risen, but I do like the simplicity of the total bond fund. Cur...
by helloeveryone
Thu Nov 16, 2023 11:08 pm
Forum: Personal Consumer Issues
Topic: Is a panamera worth it?
Replies: 48
Views: 6784

Re: Is a panamera worth it?

Wanderingwheelz wrote: Thu Nov 16, 2023 7:14 am
Rocky Mtn Man wrote: Thu Nov 16, 2023 6:42 am I've owned two Porsches. Both were very nice cars, but ultimately sold due to high maintenance costs.
1. Most garages won't work on them, even those that advertise as "European"
2. The dealer is a very expensive option, and in my case was over an hour away.

In total it was $2-4k a year in maintenance for each.

My next sports sedan will be the Elantra N.
I’ve owned 3 and I am 1.5 hours from the nearest dealer.

For me it’s just not worth the effort and money. They did get me through my mid-life crisis in style, so I guess there’s that.
Besides the tires what else contribute to the $2-$4k/year?

curious.
by helloeveryone
Sat Nov 11, 2023 7:31 am
Forum: Personal Finance (Not Investing)
Topic: Accident with uninsured driver
Replies: 100
Views: 10972

Re: Accident with uninsured driver

Hello Bogleheads, Sorry for the long post, I wanted to give all the relevant details to assess the situation. About a week ago, on my bicycle commute (in CA), I was hit by a car while stopped at a red light. The driver smashed into my bicycle, damaging it severely, and I fell on the asphalt. I brought myself up and immediately called 911, who dispatched the police on site. I did have a bunch of pain and soft tissue bleeding but nothing seemed major (kind of miraculous, it could have gone so much worse considering I was pretty much under the car), so I decided to go to the ER myself instead of calling an ambulance. Before leaving, the police communicated to me that the driver was uninsured and without a driver license, but that the car was ...
by helloeveryone
Thu Nov 02, 2023 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Question for Married Bogleheads - % to allocate to joint accounts
Replies: 174
Views: 13256

Re: Question for Married Bogleheads - % to allocate to joint accounts

married 22 years now.
joint everything since then.
very easy at the time - we were dealing with checking accounts with a few hundred dollars, no retirement savings, only assets were cars one with a loan, one had more school loans than other.
the many above posts shows this can be complex. glad we got married early and have stayed married
by helloeveryone
Sat Sep 09, 2023 3:31 pm
Forum: Investing - Theory, News & General
Topic: Inheritance & How It Impacted Your Money Life
Replies: 216
Views: 25536

Re: Inheritance & How It Impacted Your Money Life

Don’t count on one. Live your financial life as you normally would.

We received an inheritance much too early (only parent passed in early 70’s) That inheritance was applied to a 6-12mo emergency fund and a chunk that jump started two 529’s. Neither of which we had yet. It gave us financial peace of mind for those two aspects of our lives.
by helloeveryone
Thu Sep 07, 2023 12:25 am
Forum: Personal Consumer Issues
Topic: Success with Amex offers?
Replies: 30
Views: 3649

Re: Success with Amex offers?

I added an Amex Offer to my card for $20 off a $100 or more charge on Expedia. I booked a prepaid hotel for $165 and the credit didn't post. I call Amex, and the rep tells me that there are exceptions like no cruises, rental cars, or excursions. I explained that this was a prepaid hotel, so it's not excluded. The rep tells me there must be some other exclusion or it is Expedia's fault for coding it wrong. No offer to fix it or apply the credit anyway. Is this pretty common on these offers to have a lot of "gotchas" or was this particular rep just lazy and didn't want to help? I've never really used Amex offers, but this seemed really shady. I wouldn't have booked on Expedia had it not had a discount. $20 isn't much, but Amex cust...
by helloeveryone
Sun Aug 27, 2023 7:54 pm
Forum: Personal Consumer Issues
Topic: Rip Van Winkle goes looking for a new car this past week.
Replies: 53
Views: 6818

Re: Rip Van Winkle goes looking for a new car this past week.

Allow me chime in as a Toyota Camry owner (2016 model, ICE engine) and RAV4 Hybrid owner (2021 model). Camry gives me 26 mpg, My RAV4 gives me 40 mpg with about 12k miles in the last 2 years (it is displayed on the dashboard). Bought the Camry at $22k, and the RAV4 at $31k just before the prices exploded. $9k difference, at $4 per gallon equates to 2250 gallons. At 14 mpg difference, 2250 gallons equate to 31,500 miles. I know I am comparing a Camry to a RAV4, not quite the same vehicle class, but even a newish ICE RAV4 is unlikely to give much better mileage than 26 mpg. You will hit the breakeven, in the worst case scenario around 40k miles. Edited - after Leesbro post below, edited to mention that the Camry is an ICE engine, and RAV4 is...
by helloeveryone
Tue Aug 22, 2023 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: Is it worth creating a living trust or is a simple will fine?
Replies: 51
Views: 7551

Re: Is it worth creating a living trust or is a simple will fine?

When alive - the trustees would be myself and spouse. Then you name trustees should both I and spouse dies. Do you also name trustees beyond what might happen to the children or at that point the children being the trustees can just inform the trusts of what happens next? It sounds like your trust hasn't been written yet. Probably the trust should be written to define what happens then. (Are you talking about minor children, or adults? Are you talking about a trust that dissolves shortly after your deaths, or trust that goes on long afterward?) That’s correct. I came across this post and thought of the question. You bring up new thoughts as I thought trusts just last forever but your point about trust that dissolves shortly after death is ...
by helloeveryone
Tue Aug 22, 2023 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Is it worth creating a living trust or is a simple will fine?
Replies: 51
Views: 7551

Re: Is it worth creating a living trust or is a simple will fine?

Estate planning lawyer here. You definitely want a trust and other estate planning documents over a simple will. Talk to an estate planning lawyer in your area. Estateplanning dot com has a good directory. I can give lots of reasons for a trust and other estate documents over a simple will. Planning for disability, holding property in trust beyond age 18, avoiding probate, and protection from creditors are just a few of the reasons. For clients with young children, I generally recommend naming the trust as a beneficiary of life insurance policies. In my trust, my joint trustees will decide how to use life insurance proceeds and other trust property following the terms of the trust. I don't plan to give my 18 year old his share outright if ...
by helloeveryone
Mon Aug 21, 2023 1:15 pm
Forum: Personal Investments
Topic: Staying the course with 2 fund portfolio (In terms of Bonds)
Replies: 11
Views: 1783

Re: Staying the course with 2 fund portfolio (In terms of Bonds)

Taylor Larimore wrote: Mon Aug 21, 2023 11:44 am helloeveryone wrote:
QUESTION, Basically stay the course?
Answer: YES

Best wishes.
Taylor
Jack Bogle's Words of Wisdom: "Stay the Course. No matter what happens, stick to your program. I've said "Stay the course" a thousand times, and I meant it every time. It is the most important single piece of investment wisdom I can give to you."
Thank you Mr. Larimore! You are CONSISTENT in your posts and they always help me stay the course.
by helloeveryone
Mon Aug 21, 2023 1:14 pm
Forum: Personal Investments
Topic: Staying the course with 2 fund portfolio (In terms of Bonds)
Replies: 11
Views: 1783

Re: Staying the course with 2 fund portfolio (In terms of Bonds)

With 20% in bonds it is hard to produce a major effect in a long run plan by choosing something different in bonds. In fact, depending on perception, it might be hard to produce a meaningful short term effect by doing something in bonds with 80% in stocks. You either accept the basic strategy of setting an asset allocation and keeping it that way over time or you decide that somehow you can zig this way or zig that way and gain a benefit. You will have to analyze the possibilities and decide what you want to do. I have never been interested in trying to zig and zag according to any particular present opportunity. If for some reason you think you have the wrong duration and want to be shorter, then now might be a good time to change if you ...
by helloeveryone
Mon Aug 21, 2023 1:12 pm
Forum: Personal Investments
Topic: Staying the course with 2 fund portfolio (In terms of Bonds)
Replies: 11
Views: 1783

Re: Staying the course with 2 fund portfolio (In terms of Bonds)

tibbitts wrote: Mon Aug 21, 2023 11:28 am
helloeveryone wrote: Mon Aug 21, 2023 11:09 am Reason I ask/post -
Lots to read about bonds, treasury yields, etc....However any changes are likely inconsequential if I just stay the course correct?
You should edit your post to explain the question; nobody knows what you mean by "any changes." By definitions changes you make would not be staying the course, but I guess you mean changes to prevailing interest rates? They would be possibly consequential, but not necessarily predictable.
thanks I edited it. I meant any changes to what I select for my 20% bond allocation.
by helloeveryone
Mon Aug 21, 2023 11:09 am
Forum: Personal Investments
Topic: Staying the course with 2 fund portfolio (In terms of Bonds)
Replies: 11
Views: 1783

Staying the course with 2 fund portfolio (In terms of Bonds)

Lots of talks about bonds, treasury rates, etc... I have a 2 fund portfolio - S&P 500 index fund and Vanguard Total Bond. Desired AA is 80:20. Guesstimating that I may early retire in 11 years (versus go part time) which would be at age 55. I've stayed the course. Bonds took a hit and so I rebalanced when appropriate. But I'm staying in bonds and every month I have the retirement portfolio on re-invest. ie - the bond dividends get reinvested into bonds, the stock dividends get reinvested into stocks. My monthly retirement savings just go into the S&P 500. Very easy, I just rebalance when things out of balance by 5%. QUESTION 1) Basically stay the course? Reason I ask/post - Lots to read about bonds, treasury yields, etc....However a...
by helloeveryone
Thu Aug 10, 2023 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Who is correct ? [Can my cousin retire early?]
Replies: 141
Views: 13053

Re: Who is correct ?

My mistake for omitting this basic number - his expenses are around 115K per year, not including unplanned one time big expenses like a new roof etc or any big healthcare deductibles beyond the regular 2 or 3K per year. His plan has a 12K family deductible. Also the 115 K does not include any big vacations etc that he projects might cost around 10K which he wants to do once every couple of years Using this data I very roughly guesstimated his annual expenses at $140,000 (115k + 3k unknown expenses + 12k deductible + 10k vacations). Using 4% SWR he needs a portfolio of $3.5million. But given that rule is only projected out to 30 years - it's a guesstimate what happens when he turns 84. However his spouse earns $50k/year and they'll have soc...
by helloeveryone
Tue Aug 08, 2023 8:58 pm
Forum: Personal Consumer Issues
Topic: Technical layers for winter trekking in Nepal
Replies: 24
Views: 2494

Re: Technical layers for winter trekking in Nepal

Based on @livesoft's (and others') response on one of my posts, I have come around to replacing most of my gear. Over last 10 years I have done variety of treks ranging from 7 days to 12-14 days. Twice in Nepal during winter months - during which I needed to use 7 layers for the top and six for the bottom 1-2 nights. The gear I have is over 10 years old and I am looking to replace with higher quality, lighter weight, and more weather protection. This is for my upcoming winter trip in Nepal again. I am set for the base layers(Ts as well as long sleeves, long johns, gloves etc). I always use Marino and it has worked very well. Also set with the headgear (balaclava, fleece band, buff) For other layers I have following that need to replaced. -...
by helloeveryone
Sat Aug 05, 2023 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: When to slow down? What is enough?
Replies: 86
Views: 11487

Re: When to slow down? What is enough?

That being said, what if you just start refusing the 24-hour shifts? How are you working effectively for 24 straight hours? Is that legal in your state?! What if you slow it down in the job you have? From the context clues from OP, I am guessing he is a doctor in a field where this is part of the deal. And that, yes, he could get out of working 24 shifts, but it will cost him half of his income. A doctor with that kind of extreme schedule ... at a university? Possibly, altho' I would hate to see my student/child at school there (if I had one, which I don't) need his help when he's on hour 23. (Heck, I hate to think of him driving home exhausted after those shifts!) Hopefully the OP checks back in with some further info. Likely surgeon/sub ...
by helloeveryone
Thu Aug 03, 2023 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Recommendations for a free online personal finance course?
Replies: 23
Views: 3388

Re: Recommendations for a free online personal finance course?

02nz wrote: Thu Aug 03, 2023 8:27 pm This very concise introduction is written by one of the great authors on the topic and targeted at exactly the audience you describe. It gets recommended here all the time for good reason.
If you can by Bill Bernstein as noted above

Also we’re talking millions by Paul Merriman https://paulmerriman.com/wp-content/upl ... llions.pdf

Both excellent reads. No online course really is required. Perhaps direct them to Bogleheads forum or white coat investor forum.

Or maybe attend the BH conference next year if they have the funds to travel.

Edited to add - Ben Felix has good YouTube videos.
by helloeveryone
Thu Aug 03, 2023 9:52 pm
Forum: Personal Consumer Issues
Topic: suggestions for how to upgrade my car
Replies: 21
Views: 2310

Re: suggestions for how to upgrade my car

right now I have 2 small cars. One is about 21 years old, not worth a lot, maybe 3k? The other is 4 years old, worth 25k give or take and it has a 10 year Subaru warranty I paid about 3k on (no idea if it can be transferred). Does anyone know? Both cars are kind of small and our family is expanding so I want to upgrade at least one to an Hybrid SUV or something like that. Should I: sell the 21 year old car? how to sell it? craigslist or some dealer? whats a low risk method and what are best practices? sell the 4 year old car? trade in either car? if so, where? Both cars aren't really going to serve our family that well once we expand, but I'm thinking keeping the older car is better value because the newer car has more trade in or sell val...
by helloeveryone
Thu Aug 03, 2023 9:49 pm
Forum: Personal Consumer Issues
Topic: Best Purchase < $1000?
Replies: 231
Views: 28455

Re: Best Purchase < $1000?

Not certain about it being the best but definitely one of the top

$700 pre-owned road bike. Has given me a few “firsts”. Longest ride - 68 miles. Fastest avg. on some of my 20mi, 30 mi, 40 mi rides.

Others would be sub $1,000 short vacations that involved lots of beautiful hikes in a couple national parks. $1,000 gets you very nice memories
by helloeveryone
Thu Aug 03, 2023 12:25 pm
Forum: Personal Investments
Topic: What is your total accumulation number, how did you come to it. No Judgements!
Replies: 404
Views: 73609

Re: What is your total accumulation number, how did you come to it. No Judgements!

I just don't understand how some people say their annual expenses are, as in the case of the OP, estimated to be $100,000. We are in our mid-80s and just the five highest items in our annual budget are: Charity - $35K Home Maintenance - $15K Household Operation - $13K Federal Tax - $13K Long-Term Care Policies - $8K The household maintenance and operation are estimated, but very close per my review of actual expenses in those categories. The other three are actual. No mortgage since retiring in 2002. I just hope people looking at future expenses are being realistic and taking all expenses into consideration. Are you saying you think people overestimate or underestimate? I struggle with the things others have indicated. As I learn more abou...
by helloeveryone
Sat Jul 29, 2023 4:44 pm
Forum: Personal Consumer Issues
Topic: Taylor swift tickets in Chicago
Replies: 60
Views: 5383

Re: Taylor swift tickets in Chicago

DPEMD wrote: Wed May 31, 2023 5:26 pm I’m shocked at how much people are paying for these tickets. I read on twitter that prices may drop closer to the event
The resalers will drop prices as it gets closer and closer to concert start time. I’ve only tried this for NBA games in town. Works REALLY well when it’s a non super star team. If it doesn’t drop though you miss the concert/event. (Tried that tactic for Bruno Mars concert and it didn’t work)
This advice is probably useless for Taylor Swift concert.
by helloeveryone
Sat Jul 29, 2023 4:38 pm
Forum: Personal Consumer Issues
Topic: Do they bargain at Tiffany's
Replies: 102
Views: 12987

Re: Do they bargain at Tiffany's

Petrocelli wrote: Fri Jul 28, 2023 10:08 am Mrs. Petrocelli and I are coming up on 40 years of marriage in a couple years. I'd like to get her something special. has anyone shopped at Tiffany's? Do you know if they bargain?
Never hurts to ask. Worst case scenario they say no. Ie - ask if they give a cash discount if you are able to pay cash. (DW hates it when I ask at random places though =) but it worked at Ashley’s furniture many many years ago)