Search found 92 matches

by wandering_aimlessly
Sat Mar 02, 2024 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: Two 529 plans, which one to withdraw first?
Replies: 3
Views: 476

Re: Two 529 plans, which one to withdraw first?

I had a similar situation here are a few of the considerations I took into account when deciding which 529 to pull from each year: Returns (investment options offered). Gains (you outline this factor above) in the event of a non qualified withdrawal in the future. Ease of distributing withdrawals (some 529s advertise that a check to the college directly can take multiple weeks, and different plans offer different withdrawal methods). Most of these can be countered by planning but you don't want to pull from the wrong account when you suddenly find a tuition bill is due in a week. If 529 is overfunded and I plan to use the conversion to Roth IRA option - it may make sense to pull from youngest account (since this conversion only works on acc...
by wandering_aimlessly
Fri Feb 02, 2024 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited IRA questions - new to this
Replies: 8
Views: 740

Re: Inherited IRA questions - new to this

I went through all the inherited IRA questions when my mother passed in 2020 (Father had previously passed). "Luckily" the accounts weren't too large so I couldn't screw them up too much. I never had to include these on 8606s as there was no after tax contributions. The biggest questions were around RMDs. My mother had started RMDs so the first year that one had to be removed. After that the IRS really hadn't defined what RMDs were required, just the full balance needed to be removed in 10 years. In the next two years they tried a couple of times to define RMDs for these accounts and both times it appeared they were looking at penalizing folks for not taking the RMDs for the previous year (which they would not have known to make)....
by wandering_aimlessly
Thu Jan 25, 2024 12:41 pm
Forum: Personal Consumer Issues
Topic: Rome - Florence - Venice
Replies: 49
Views: 3845

Re: Rome - Florence - Venice

We were in Florence/Venice in July of last year (before boarding a cruise in the Adriatic). A few thoughts: The train station in Florence is very centrally located - us and many others elected to walk with luggage to/from hotels since the streets are narrow and cars can be difficult. The rough streets can make luggage rolling challenging but it is manageable. We choose two day tours listed on Viator while in Florence - the meeting place for all tours appeared to be right around the corner from the train station - so easy to walk to. Both tours went out into Tuscany, one specifically focused on wineries and the other focused on the countryside. Both were quite good. We choose to tour Florence itself by foot since we were staying in the city ...
by wandering_aimlessly
Sun Dec 31, 2023 9:55 am
Forum: Personal Consumer Issues
Topic: Upcoming travel to Argentina: cash or card? If cash, USD or ARS?
Replies: 20
Views: 3665

Re: Upcoming travel to Argentina: cash or card? If cash, USD or ARS?

I was in Buenos Aires and Ushuaia earlier this month (Dec 2023) for about 2 weeks and spoke with many folks who had been to Calafate etc. The exchange rate was hard to follow - I think the official rate changed from 400/dollar to 800/dollar while we were there and the best places were giving 900 to close to 1000. In general credit cards were accepted in the towns we were in - less so in other more remote areas so some of the travelers we met carried Wads of Pesos...many of them said non traditional exchange methods (through certain hotels/casinos or other establishments had much better rates than banks and used those for their exchange - though it took some searching to find these places). It actually appears the non traditional places star...
by wandering_aimlessly
Mon Sep 18, 2023 11:37 am
Forum: Personal Finance (Not Investing)
Topic: Has anybody listed their property for a ridiculously high price and gotten it?
Replies: 58
Views: 6678

Re: Has anybody listed their property for a ridiculously high price and gotten it?

If this works it sounds like you are just redefining where the market is (or someone has vastly underestimated the market value). A house is worth exactly what one other person is willing to pay - you just have to find that person - if they exist. I have seen folks long term list on the "Make me move" function mentioned above and then receive offers at that point - in at least some cases other homes have come up to the price being asked so it really just sold at "market".
by wandering_aimlessly
Mon Aug 07, 2023 9:11 am
Forum: Personal Consumer Issues
Topic: Best Place to Live in South Carolina?
Replies: 66
Views: 7365

Re: Best Place to Live in South Carolina?

Have lived in Columbia area for 13 years. It is fine but if not for a job never would have guessed we would end up here. It is Hot and humid in summer but managable. We do tend to view this as 2 hours to the mountains and 2 hours to the sea - not a lot to "do" here. And when a hurricane threatens Charleston they evacuate here (even reversing some highway lanes) but that is once every few years at most. Hurricanes are going to be a potential issue almost anywhere on the coast in the SouthEast. Parts of South Carolina will be crowded, especially in summer on the coast, but you won't find a truly large city urban experience, even in the center of the cities. Best advice is to spend some time wherever you are thinking of moving . One ...
by wandering_aimlessly
Sun Feb 26, 2023 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: The job was okay. The money was nice. But you retired anyway. How did it go?
Replies: 173
Views: 25454

Re: The job was okay. The money was nice. But you retired anyway. How did it go?

Retired in mid 2021 at 55 - though sticking around another 2 years could have been lucrative (a one time payout of somewhere around an additional years salary) it just wouldn't have been worth it, and the sudden death of a friend of my wife who was exactly my age, only about a month after my retirement only reinforced that belief. The toughtest part of leaving was actually that my boss was fantastic. Made it a little easier though that as his past finance guy I had the chance to help him settle into running the company before I left (at least in my opinion :D ). I knew travel with my wife was my top priority intitially and we have probably gone internationally about every 2-3 months since, though recent family events have put a slow down on...
by wandering_aimlessly
Sat Jan 28, 2023 8:57 pm
Forum: Personal Consumer Issues
Topic: one-week trip to Europe in July
Replies: 30
Views: 3002

Re: one-week trip to Europe in July

I have done London and Paris in a week but only with the intent of "hitting the highlights" and then returning (or having gone before) to dive in. I don't think I would do it that way again. There is so much to do not only in both cities but "just outside" it is easy to fill a week. A few thoughts though however you do it... Though not far apart transportation can be shaky, trains can be impacted by strikes, and Charles De Gaulle and Heathrow have had some pretty difficult operating times recently. If the trip should take 1/2 day make a plan in case it takes a full one. If traveling in Paris during high season hire a personal guide for Louvre, Musee D'orsay etc. They aren't very expensive, tend to be extremely knowledgea...
by wandering_aimlessly
Wed Jan 18, 2023 8:53 am
Forum: Investing - Theory, News & General
Topic: Thoughts on the current housing bubble
Replies: 21
Views: 2311

Re: Thoughts on the current housing bubble

Two things I am confident about with residential real estate: 1 - This time it IS different...this doesn't mean it will or it will not implode just that the exact economic and environmental conditions that existed before won't exist again - there are too many variables. Trying to predict the future based on these comparisons has limited value. 2 - While I find it interesting to think about what might happen, I (and most others) really don't have much ability to correctly forecast it. That said - I really do find residential real estate fascinating to think about. It is bought based on a monthly payment (interest rate dependent - how much can I afford to pay/month?) but sold based on total price (how much can I get for my house?). The price ...
by wandering_aimlessly
Wed Nov 30, 2022 7:20 am
Forum: Investing - Theory, News & General
Topic: Top 5 Financial Regrets of Americans Over 50
Replies: 71
Views: 11815

Re: Top 5 Financial Regrets of Americans Over 50

#3 seems like just a restatement of #1...If I worked longer I could I have saved more for retirement (or had less time in retirement to spend it over?). Do people really wish they had worked more just for the occupied time? I see where a few might say that, but seems like a volunteer job could solve that desire. I do hate these clickbait lists but being human I do sometimes enjoy ripping on their overly simplistic nature...
by wandering_aimlessly
Fri Nov 04, 2022 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Choice about contributing to a deferred compensation plan
Replies: 9
Views: 1258

Re: Choice about contributing to a deferred compensation plan

I used deferred compensation for the last 5 or so years of employment. No matching and I elected income to be distributed to me over the first 10 years of my retirement. I retired at 55 so this income will last until 65. The Pros: I was in the highest tax bracket during those last years of work - I am in much lower brackets now Strong markets grew the total significantly before withdrawals (of course this could have gone the other way too) The 10 year+ withdrawal options allows me to move to a no income tax state after retirement and avoid state income taxes in those years, immediate or 5 year payouts needed to pay taxes in state in which you retired (may or may not apply/matter for you). The Cons: No access to money at time of earning A mi...
by wandering_aimlessly
Tue Oct 04, 2022 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: 2021 retirees: How are you doing?
Replies: 22
Views: 3927

Re: 2021 retirees: How are you doing?

Retired in June 2021 at 55...no issues financially as I planned on living off differed income, a military pension, and liquid assets for the first several years. The biggest issue financially is I find the current environment more distracting than I expected. I feel more curious about why some things are as they are and I now have the time to go down a rabbit hole once in a while to see if I can learn something - just have to remind myself to come back out. The bigger changes are just cause "life happens". I originally thought I had a fun activity (something that is fun for me) that could switch from a hobby to a money generator - after getting a certification, I spent time with those who do this professionally and realized it isn...
by wandering_aimlessly
Sun Aug 14, 2022 8:18 pm
Forum: Personal Consumer Issues
Topic: River cruises and low water levels
Replies: 16
Views: 3131

Re: River cruises and low water levels

I see this is referenced above but will leave the comment since I know the information here can be very helpful...The Cruise Critic boards have running conversations on the levels of rivers (just search for something like "Rhine river water levels 2022" on boards.cruisecritic.com). Of course this isn't official info but I have found it very accurate and reliable. Current issues seem to be in the Gorge area as it appears many boats have had to stop prior. We have a Danube cruise in December so we are watching water levels intently as well. Best of luck.
by wandering_aimlessly
Mon May 16, 2022 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Looking for good resource about trusts, estate planning/protection, etc
Replies: 2
Views: 326

Re: Looking for good resource about trusts, estate planning/protection, etc

I know it is controversial, but I learned quite a bit of the basics about what trusts can in estates from Jeffrey Condon's book "Beyond the Grave". His titles for different trusts are his own vs. the commonly used ones but it isn't hard to match them up. It can also feel a little pessimistic as the book is about the times when the protection is needed, not about the many times when the trust may have been a "belt and suspenders". Also lots of the situations covered will not apply (I certainly hope no one encounters all the different situations he describes)...Anyway - just a starting point to ground you in what a trust can (and cannot) do as a part of estate .
by wandering_aimlessly
Tue Oct 05, 2021 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: How much is your annual pension? (actual or expected)
Replies: 151
Views: 16506

Re: How much is your annual pension? (actual or expected)

Just a couple of notes on military pensions...Although they are very structured and most people understand they depend on rank and time in service, they also depend on type of service (reserve vs. active) reflected in "points" earned each year. I am likely the lowest end for officers (an O-4 who only spent 8 years active duty and did 12 more as individual ready reserve (which literally required only one weekend a year of taking online classes). Pension will be about $30k-35K/ year...someone who did the full 20 years active would be more than double mine (and of course more for those with higher rank/more years). Mine also starts at age 60 while theirs started at time of retirement. The takeaway being that although the published an...
by wandering_aimlessly
Wed Sep 29, 2021 8:18 am
Forum: Personal Finance (Not Investing)
Topic: What are the dirty tricks pre-IPO companies can play in RSU/stock comp?
Replies: 12
Views: 1743

Re: What are the dirty tricks pre-IPO companies can play in RSU/stock comp?

The choice of the term "dirty tricks" is interesting. The pre-ipo world is high risk/high return and what I see noted in your post is (mostly) understanding the risks. The fact that you have obviously read the contract and spelled out many of the restrictions above indicates you have a strong desire to understand the conditions behind your pay. If you believe that the conditions that are spelled out before you are "dirty tricks" and are there to keep you from getting compensation you are rightfully owed the pre-ipo world may not be the best place for you...on the other hand if the "dirty tricks" you are concerned about are beyond the contract (unethical? illegal?) - run, don't walk, away from such a company as ...
by wandering_aimlessly
Sun Sep 12, 2021 8:46 pm
Forum: Investing - Theory, News & General
Topic: Retirees quick response please! Age, Xpenses & SWR
Replies: 41
Views: 6100

Re: Retirees quick response please! Age, Xpenses & SWR

A:55 (within the last year)
B: 40x
C: 2.5%

Though I count within expenses transferring a total $60k/ year to my children so there is significant “cushion” to work with if needed
by wandering_aimlessly
Tue Sep 07, 2021 9:18 pm
Forum: Personal Investments
Topic: Retire at 50
Replies: 29
Views: 7638

Re: Retire at 50

As a fellow SC boglehead (who recently retired at 55) I'll offer just one nugget on an aspect of your financials - the 529. The 529 in SC is somewhat unique. The state tax deduction for contributions is unlimited - and this includes transfers from other 529s. So if you like future scholar program (they are generally rated very good but choice is a personal preference) you'll get the state tax impact as you contribute over the years (and that includes if you do an up front 5 year contribution)...if you don't use future scholar then use whomever and then make sure to transfer through the SC program before sending to the university...you still get the state tax break. I have suspected they would shut this down but last I checked it still exist...
by wandering_aimlessly
Sat Aug 21, 2021 8:12 pm
Forum: Personal Consumer Issues
Topic: Pricing a home for sale.
Replies: 35
Views: 3016

Re: Pricing a home for sale.

I think it was already said but if you decide to sell before it goes to market your needs are 1) a Lawyer who specializes in real estate - that is it. Whether you decide to sell this way or not is up to you. We did this recently with my mothers house after she passed. Started down the path to a regular agent sale - had 3 come in and give comps and an estimate of value (also used online estimates as appropriate). Before we made any commitments with any agent a neighbor came by and said they were interested in buying "off-market"...I came up with a potential sale price given what I knew and figuring we wouldn't need a realtor on our side. They still wanted a realtor as they were selling another house...we told them we were listing i...
by wandering_aimlessly
Sat Aug 21, 2021 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: blurred lines with work hours and working remote
Replies: 169
Views: 17962

Re: blurred lines with work hours and working remote

Before retiring a few months ago I definitely felt similar "pressure" for much of my career - not just during COVID. Now that I am retired I realize at least some of that pressure was internal (I don't recall ever being penalized for not responding though I suspect I did miss a communication somewhere). The majority of my 24/7 time though was during the week and since I traveled many weeks it wasn't competing with family time - just hotel time. I do think I had many bosses who appreciated the attention. One particular instance sticks out where I was up in the middle of the night (I did this regularly - my choice) and sent a note to the CEO (I was his Chief of Staff) and unsuspectingly he sent one back immediately. In a meeting sho...
by wandering_aimlessly
Sun Jun 20, 2021 3:32 pm
Forum: Personal Consumer Issues
Topic: More comfortable eyeglass nose pads?
Replies: 12
Views: 1565

Re: More comfortable eyeglass nose pads?

Optigrab - exactly what I thought of first too.

Just like the tie-rods on a '72 Buick....
by wandering_aimlessly
Wed May 26, 2021 4:50 pm
Forum: Investing - Theory, News & General
Topic: Vanguard votes on Exxon board members
Replies: 104
Views: 8211

Re: Vanguard votes on Exxon board members

Just a comment on this particular proxy fight...this one has been particularly aggressive. I have a small amount of XOM stock inherited from my parents that I just never did anything with. It has been several weeks since I have not received a white card or blue card (or both) solicitation. I would bet that many small investors don't realize that last vote counts, so if you previously voted blue card (company) and then vote white (engine no.1 because you received one in the mail later - they look very different) your blue card vote is cancelled or vice versa. At least I do trust Vanguard to understand the rules - whether it aligns with my interests is another matter.

It will be very interesting to see how this one turns out...
by wandering_aimlessly
Thu May 20, 2021 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: What do you value most? - Salary, Cash Bonus, Deferred Bonus, Equity
Replies: 79
Views: 7055

Re: What do you value most? - Salary, Cash Bonus, Deferred Bonus, Equity

I valued different things at different times. Early in my career it was salary (and later cash bonuses) - very predictable, regular growth, but it only went up significantly when i switched jobs. I spent my time in industry so bonuses were not huge (maybe a 3rd of salary) but were very dependable. In mid career the long term bonus became more valuable to me (as SARs, Restricted stock and performance shares) some years this was a multiple of my salary. Toward the end of my career the ability to defer salary and bonus was most valuable - I could still earn considerable income but by deferring the majority of it I got myself into lower tax brackets. this allowed me to retire with a low seven figure deferred account that will provide an income ...
by wandering_aimlessly
Wed May 12, 2021 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: How did you figure out what to Retire TO?
Replies: 51
Views: 4710

Re: How did you figure out what to Retire TO?

Though I am just retiring now I have had a great deal of increased free time since the start of COVID... Some activities are just increases in time spent doing things you already do and know you like (for me this was running) Other activities emerge from interests you couldn't quite find time for (for me I have an interest area that is clear to others and they have asked my advice about it for the last few years - not sure it will ever develop beyond a hobby but I can certainly get better at it - and earn certifications etc in it) I have found that if I didn't prioritize it before (even if I always thought it would be neat) I'm probably not doing it in retirement (I have always thought I wanted to be a prolific reader - now that I could hav...
by wandering_aimlessly
Mon May 03, 2021 6:37 am
Forum: Investing - Theory, News & General
Topic: Qualified Versus Unqualified Dividends
Replies: 7
Views: 1335

Re: Qualified Versus Unqualified Dividends

The confusion is understandable...I love that even the IRS says this in the 1099-DIV section of topic 404:

"Dividends can be classified either as ordinary or qualified. Whereas ordinary dividends are taxable as ordinary income, qualified dividends that meet certain requirements are taxed at lower capital gain rates."

https://www.irs.gov/taxtopics/tc404

And they wonder why we get confused????
by wandering_aimlessly
Mon May 03, 2021 6:25 am
Forum: Personal Consumer Issues
Topic: What is your high school graduate going to be doing?
Replies: 69
Views: 7147

Re: What is your high school graduate going to be doing?

Our younger daughter is also heading to GTech this fall (as an out of stater- we are in SC, but she was born in New Jersey). I think her major is technically electrical engineering but I expect that to change as she gets more exposure. Older sister is an engineering major up at WPI in Worcester MA. Empty nesting (and empty wallet) here we come. :D
by wandering_aimlessly
Sun May 02, 2021 10:30 pm
Forum: Personal Investments
Topic: Retirement Readiness Review
Replies: 6
Views: 1033

Re: Retirement Readiness Review

Just a couple of comments/thoughts (my situation is similar - married, retiring this summer, living in South East (SC vs. GA), slightly higher balances but 3 years older, 2 kids - one in college one leaving this fall, mix of assets is different but same vehicles - IRAs (Roth, traditional, and inherited), deferred income, large taxable balance, HSA, and 529s): Are you sure about the timing to stay in Georgia? Once the last child leaves the nest (about 6 years in your case) the call to move can get louder (understand though if you are planning on instate schools - Georgia has some good ones). Would moving earlier change your approach to a mortgage? I don't know the answer just something to think about. With Grandparent paying for college (for...
by wandering_aimlessly
Fri Apr 23, 2021 8:08 am
Forum: Personal Consumer Issues
Topic: Mediterranean Cruise Opinions
Replies: 50
Views: 4665

Re: Mediterranean Cruise Opinions

With Cruisecritic.com, you can also search your cabin number on your specific ship. You don't want your cabin near the all night night club. As a senior citizen, I appreciate booking a cruise when the children are in school. I made that mistake, and had to constantly veer away when packs of 40 adolescent children were rushing down the narrow ship passage way. Sometimes parents let their children "do their own things" with their newly found pals. Aldo good suggestions are found on what restaurants and foods are best on your ship, especially desserts. Kids won't be an issue with Viking - they have an 'over 18 policy only" on both their river and ocean cruises...Also realize they don't have casinos, photographers or other ameni...
by wandering_aimlessly
Fri Apr 02, 2021 9:20 pm
Forum: Investing - Theory, News & General
Topic: nextdoor referral for "financial advisor" makes sad Boglehead
Replies: 39
Views: 5394

Re: nextdoor referral for "financial advisor" makes sad Boglehead

"Do-it yourself" works well for many on this board (myself included) but we really are an unusual lot. Most people do need help - and often pushing them toward "do it yourself" financial management sounds as appealing to them as "do-it yourself" surgery. Making someone aware of the different types of advisors can be more helpful to them than pushing a "do it yourself" model that they cannot be comfortable with (but even this I would reserve only for someone who asks or is looking for information)...
by wandering_aimlessly
Wed Mar 24, 2021 9:08 pm
Forum: Personal Investments
Topic: Transferring entire 500k taxable account to Bitcoin?
Replies: 169
Views: 13609

Re: Transferring entire 500k taxable account to Bitcoin?

"been a boglehead since 21" - if going "all in" on bitcoin is your idea of being a boglehead you may want to check the definition...

As to what could go wrong - nothing possibly comes to mind... :oops:
by wandering_aimlessly
Wed Mar 24, 2021 7:52 pm
Forum: Personal Consumer Issues
Topic: Bringing your own EZ-Pass into a rental car?
Replies: 25
Views: 12166

Re: Bringing your own EZ-Pass into a rental car?

Didn't see this comment above - as of a few months ago EZ-Pass is only compatible with central Florida (around Orlando).

Here is a pretty good map of which roads will accept it:
https://www.cfxway.com/e-zpass/#:~:text ... %20Orlando.

If you are elsewhere in the state the Sun-pass system is not compatible and will not accept EZ-Pass...
by wandering_aimlessly
Wed Mar 17, 2021 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: National Reputation of Worcester Polytechnic Institute (WPI)? other input welcome too
Replies: 211
Views: 20991

Re: National Reputation of Worcester Polytechnic Institute (WPI)? other input welcome too

I am very familiar with WPI but I did grow up in New England and received my undergrad from RPI...My current employer thinks very highly of WPI grads but we aren't hiring CS - we are much more "old school" manufacturing. To be perfectly honest I'm not sure the reputation matters as much as the fit. My daughter is a junior at WPI and it has been an incredible experience so far. Somehow she just knew when she visited there it was the right place for her and the combination of the projects and the opportunities (almost a requirement) to go abroad (even while losing an entire year of travel to COVID) have been great. There are other considerations: WPI is somewhat regional in attendees..one of my daughters roommates is from Southern C...
by wandering_aimlessly
Tue Mar 02, 2021 10:34 am
Forum: Personal Investments
Topic: Close to retirement - Portfolio Questions
Replies: 21
Views: 2988

Re: Close to retirement - Portfolio Questions

A number of similar circumstances between your situation and mine - though my retirement is closer (next 6 months) - so thought I would just mention a few of the items I have been thinking about through my prep. My first 10 years will also be funded by a combination of deferred income and pension (military). Significant deferred income accounts are not that common so they do carry certain elements that should be considered separately. The IRS requires that they will be liquidated per a schedule and over a specified period. If you invest that piece all stock (even an index) would a 50% drop in value impact your early retirement?...I determined it would, so ended up investing much more conservatively for this account as I approach retirement....
by wandering_aimlessly
Thu Feb 25, 2021 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Best decision(s) in your financial life
Replies: 278
Views: 33478

Re: Best decision(s) in your financial life

Three particular items come to mind: Finding the Individual ready reserve as I left Active Duty in the Navy after 9 years...Don't believe it still works this way but I could spend 1 weekend each year taking some correspondence courses and get a year toward retirement. 11 years later I "retired" and, though I have benefitted up until now, I am actually just approaching the real retirement benefits. Choosing to invest in myself and transition to the civilian world by going through a top MBA program. Though I lost earning time I emerged being viewed differently than I would have without the degree. I still get recruiters reaching out to me because they found my graduate school from 25 years ago. Taking advantage of tax advantaged acc...
by wandering_aimlessly
Thu Feb 18, 2021 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: When to roll over 529 to my kids?
Replies: 16
Views: 1132

Re: When to roll over 529 to my kids?

I am now on the other side of the 529 (drawdown) so if these rules have changed I would ask someone to speak up...Not sure how important it is to you to stay below the gift tax exemption (realizing that exceeding it isn't likely to cause an immediate cash tax impact) but if it is there are a few additional finer points on the gifting elements to keep in mind.... First - Super funding might take some thought. Although you and your wife can each superfund $75k (total $150k per beneficiary) the gifts in a direct rollover would be viewed as all coming from one contributor - which it sounds like would be $115k from you for one kid and $115k from your wife to the other. When I was contributing it hadn't been specified by the IRS whether the gift ...
by wandering_aimlessly
Mon Feb 08, 2021 8:13 am
Forum: Personal Finance (Not Investing)
Topic: Am I nuts? About to retire early without bulletproof money.
Replies: 109
Views: 22609

Re: Am I nuts? About to retire early without bulletproof money.

Absolutely make the leap - I have higher expenses than you but am retiring later this year at 55 with a similar financial structure (an annuity type stream that covers the vast majority of expected expenses and a large bucket of savings "for whatever else"). The more important part for you is the time...my father past away almost a decade ago after several years of Alzheimers and my mother past away this past year after almost 2 decades of cancer...for me the early retirement now allows me to spend more time with my daughters. You'll never get that time back - relax a little and have a wonderful time with your dad.
by wandering_aimlessly
Wed Jan 20, 2021 11:45 am
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2021!
Replies: 437
Views: 78302

Re: Roll Call for the Retirement Class of 2021!

Hard to believe it is this time already...I'll be 55 on June 4th as I leave the workforce - both parents had health issues by 65 retirement so I always knew I would be leaving earlier. Fortunately the company gave me a job for the last year that was a perfect stepping stone to retirement- and I really liked it. Already have 2 cruises scheduled for second half of 2021 but probably need to start planning 2022 if I am to get ahead of the crowd...
by wandering_aimlessly
Mon Jan 04, 2021 1:30 pm
Forum: Personal Consumer Issues
Topic: Best age for "bucket list" trips with kids
Replies: 40
Views: 3878

Re: Best age for "bucket list" trips with kids

Fascinating variation in locations and ages, even what constitutes "bucket list" varies significantly - Bogle heads are such a diverse group. I guess my takeaway is to know yourself and your kids and adjust accordingly. For us the pre-teen trips tended to be Disney types (Cruises and World). Once they became teens we took them to Europe, Hawaii, South Africa, China - as they became independent (late high school/college age) the trips were sometimes without us (Galapagos, back to Europe, etc) either as part of a tour or independent but under university supervision...One was scheduled for India and the other to return to Europe but Covid cancelled those. They are already planning the next trips to Spain and UAE, yet I suspect they w...
by wandering_aimlessly
Sun Jan 03, 2021 7:47 pm
Forum: Personal Consumer Issues
Topic: Any multimillionaire's (more than 2mm) out there still mow their own lawn?
Replies: 341
Views: 33740

Re: Any multimillionaire's (more than 2mm) out there still mow their own lawn?

Yup - passed that milestone several years ago (not sure why that one is any more significant than any other)....still mow my own lawn, no snow here to shovel but care for my own pool (currently replacing a pump motor), and do repairs around the house (currently doing significant deck repair), gearing up for some significant landscaping this spring - I don't think NW has anything to do with who does these tasks - if you enjoy them you do them yourself, if not you try to figure out at what minimum income point can you get someone else to do them for you...works well either way...
by wandering_aimlessly
Fri Jan 01, 2021 9:40 am
Forum: Personal Finance (Not Investing)
Topic: How important is tax strategy for building wealth?
Replies: 158
Views: 14039

Re: How important is tax strategy for building wealth?

I do believe "tax awareness" has a significant impact on wealth over time...I include in this understanding and utilization (where appropriate) of all the tax credits/deferrals offered within the code. I also include awareness of all taxes (income, property, sales etc.) Always amazes me how little people may know about sales tax in their state or property tax procedures...probably not as big as income tax for most but not inconsequential for many. One of the particularly challenging elements of tax is that the rules change regularly...today's tax haven is tomorrow's taxable event so while I feel like I control more about how much I earn, how much I save, how I invest, how much I pay for investments, even estimating how much I shou...
by wandering_aimlessly
Thu Dec 31, 2020 9:23 am
Forum: Personal Finance (Not Investing)
Topic: So what kind of raise did you guys get for 2021?
Replies: 251
Views: 27115

Re: So what kind of raise did you guys get for 2021?

Not sure what you can deduce from any single merit raise...Our company has about 10,000 salaried employees. Long term average merit increase has been about 3%/year...mid year we were thinking 2021 would be 2% but in Q4 we increased that to 2.5%. Reaction isn't happy but generally understanding. Within that 2.5% average we'll have folks anywhere from 0% to about 6 or 7%. Merit is awarded in March based on both what you achieved and how you achieved it.
by wandering_aimlessly
Wed Dec 16, 2020 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Career advice with potentially major earnings?
Replies: 44
Views: 4169

Re: Career advice with potentially major earnings?

Marry wealthy...actually there is still considerable competition for those already wealthy - so maybe the best move is find the potentially "wealthy" and marry before they get there. My wife and I both did that 30 years ago - it worked out better for her (in this sense).
by wandering_aimlessly
Wed Dec 09, 2020 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Structuring an executive compensation package
Replies: 24
Views: 3230

Re: Structuring an executive compensation package

+1 Seek advice from someone in the industry or a recruiter...(if you are looking at a CEO job - I would expect the company to cover this expense, still valuable for anyone else in the suite) A few notes from my experience (currently in a C job (though a junior one) reporting to the CEO in a $8B market cap company (mid-sized) - not tech related).. I agree with the 3 compensation buckets mentioned above (salary, short term incentive and long term incentive (3-5 year vesting periods on LTI seem normal)). LTI tends to be restricted shares (expensive to the company), Options/SARS (cheaper to company), and some type of performance shares (which have become more popular in part because they can be set with a relatively low bar (comparison to peers...
by wandering_aimlessly
Mon Nov 23, 2020 7:18 pm
Forum: US Chapters
Topic: Are you a Boglehead?
Replies: 114
Views: 9323

Re: Are you a Boglehead?

Boglefan - yes...Boglehead (or any-head for that matter) probably not...just too much commitment
by wandering_aimlessly
Mon Nov 23, 2020 7:04 pm
Forum: Personal Investments
Topic: Recommendations from financial advisor
Replies: 63
Views: 6613

Re: Recommendations from financial advisor

Confusing complexity with diversity. A diverse portfolio doesn't need to be complex, but if you make it complex it will earn an FA a whole lot more (and make them appear indispensable)....
by wandering_aimlessly
Fri Nov 06, 2020 9:23 am
Forum: Personal Consumer Issues
Topic: What do you give your adult children at holiday time?
Replies: 175
Views: 18853

Re: What do you give your adult children at holiday time?

A piece of their inheritance (a check up to the gifting limit). And it comes with advice and recommendations on how to invest it (funny part is they actually seam to listen - or are just good actors). My kids are young adults so haven't had too many years yet of this but definitely prefer this money grows with them over the next few decades instead of getting hit with a lowered inheritance tax limit beyond 2025....
by wandering_aimlessly
Wed Oct 28, 2020 10:52 am
Forum: Personal Consumer Issues
Topic: Help...we're getting a dog!
Replies: 157
Views: 12248

Re: Help...we're getting a dog!

We were similar - no pets for many years...finally the youngest, as she approached senior year in HS, prepared a power point presentation and convinced us to get a dog. Actually foster a dog... this was a great idea. After two + weeks of getting up early, working her schedule, and some cleanup after the pup - we all agreed that a dog was a wonderful idea, for someone else. The dog got a good home for 2 weeks and we got to know - it really isn't for us...
by wandering_aimlessly
Sat Sep 05, 2020 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: Career Advice
Replies: 15
Views: 2480

Re: Career Advice

Don't get too wrapped up in titles...for your past: make sure your resume is crystal clear on your duties and responsibilities - for your future: there may be very few true CFO roles in many companies. I have had divisional CFO roles in 3 separate large megacorps - stand alone divisions up to $2B revenue, and none of them used the actual CFO title. In my world (manufacturing) folks with your background fit excellently in a controller type position but generally needed some FP&A experience if they were seeking more field responsibility - not saying this is the right path for you but do you have a good understanding of what you will need to make that level in your chosen field? Would an advanced degree matter or help? Although attendance ...
by wandering_aimlessly
Tue Sep 01, 2020 8:47 pm
Forum: Personal Consumer Issues
Topic: Shopping for college
Replies: 164
Views: 16532

Re: Shopping for college

Lots of interesting information in this thread. I am in the middle of the college quagmire (first daughter is a junior in a private engineering school in NE, second is a HS senior). One interesting learning from the first was the value of the unknown. During older daughters application process I made well above the level for need (~$500k/yr) and though her grades were good they weren't great (think top 10% of class not top 10 indivuduals) but the school offered her about 50% in merit scholarship $s for the full 4 years - bringing them almost in line with a local state school. Only reason I could think of was geography - we live in South Carolina and the school is in Ma. but as I stated the real reason is always unknown. Now the second one i...
by wandering_aimlessly
Tue Aug 18, 2020 8:02 am
Forum: Investing - Theory, News & General
Topic: The 0.5% Rule (SWR) [Safe Withdrawal Rate]
Replies: 419
Views: 32568

Re: The 0.5% Rule (SWR)

I actually enjoy many of FS posts...not to model my retirement on, but just for the data and other information he presents. He is very articulate. He claims he makes a significant amount of money from his blog - this isn't the case for most bloggers. If this is true he has a job as a journalist, and how do you make money as a journalist on the internet? You need to attract attention and generate BUZZ....0.5% withdrawal rate is Buzz-worthy (we are speaking about it). It isn't helpful in anyway for most people thinking about retirement, but I don't believe that is the point. Recall that this blogger announced the "failure" of his own fire prior to the current COVID crisis. He made the best calculations he could back in 2012 and then...