Search found 2665 matches

by oldfort
Sat Jul 24, 2021 11:53 pm
Forum: Personal Finance (Not Investing)
Topic: Whats the point of building wealth?
Replies: 32
Views: 2944

Re: Whats the point of building wealth?

Or, being wealth when you are old then you cant really enjoy it. Who says you can't enjoy money when you're old? There are a lot of ways you can continue to spend money when you're old: remodel your home, expensive cars, flying first class, staying at the Four Seasons, eating at Michelin restaurant...
by oldfort
Sat Jul 24, 2021 11:45 pm
Forum: Personal Finance (Not Investing)
Topic: Whats the point of building wealth?
Replies: 32
Views: 2944

Re: Whats the point of building wealth?

These type of philosophy questions are bordering on a general comment thread. The obvious answers are people have heirs or charity they want to leave money to.
by oldfort
Sat Jul 24, 2021 8:41 pm
Forum: Personal Consumer Issues
Topic: Home security - what do you do? Wyze Security System?
Replies: 11
Views: 840

Re: Home security - what do you do? Wyze Security System?

In general, the money could be better spent on an insurance rider for valuables or else not worth worrying about. If you're rich and care about security, you live in a gated community. If you're average in income, most people don't have much worth stealing: computers, maybe some gaming consoles, so...
by oldfort
Sat Jul 24, 2021 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Looking to change careers, but feel stuck. Dissatisfied with life.
Replies: 51
Views: 6463

Re: Looking to change careers, but feel stuck. Dissatisfied with life.

Have you considered active duty military if you have the physical health for it, or otherwise have you considered civilian federal employment for any of various federal agencies, for example for the Veterans' Administration? Benefits are good and working with soldiers or veterans can be enormously ...
by oldfort
Sat Jul 24, 2021 8:17 pm
Forum: Personal Consumer Issues
Topic: Home security - what do you do? Wyze Security System?
Replies: 11
Views: 840

Re: Home security - what do you do? Wyze Security System?

In general, the money could be better spent on an insurance rider for valuables or else not worth worrying about. If you're rich and care about security, you live in a gated community. If you're average in income, most people don't have much worth stealing: computers, maybe some gaming consoles, som...
by oldfort
Mon Jul 19, 2021 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Sole Trustee and Trust Protection Aspect
Replies: 31
Views: 1852

Re: Sole Trustee and Trust Protection Aspect

if a creditor pops up unexpectedly out-of-nowhere while she is the sole trustee? Creditors popping up unexpectedly out-of-nowhere are rarely the reason anyone loses their inheritance. A person is far more likely to lose a large part of their inheritance due to divorce/alimony/child support, excessi...
by oldfort
Sun Jul 18, 2021 4:41 pm
Forum: Investing - Theory, News & General
Topic: Endowment Withdrawl Strategy
Replies: 7
Views: 627

Re: Endowment Withdrawl Strategy

Even without adding to the initial portfolio, it appears that over time the % slowly increases. I'm trying to have a modest withdrawal rate (3% - I can deal with yearly fluctuations) with a "bucket" so to speak at the end for either my own care or to leave as part of a legacy. When I run ...
by oldfort
Sun Jul 18, 2021 2:11 pm
Forum: Investing - Theory, News & General
Topic: Endowment Withdrawl Strategy
Replies: 7
Views: 627

Re: Endowment Withdrawl Strategy

Yale expects to continue to receive donations to replace some of the endowment which is spent each year. I don't see it as comparable to a retired person who has to live 100% off their investments.
by oldfort
Sat Jul 17, 2021 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Up the PUP when the pup grows up? [Increase umbrella policy when teen gets driver's license]
Replies: 11
Views: 981

Re: Up the PUP when the pup grows up? [Increase umbrella policy when teen gets driver's license]

TomatoTomahto wrote: Sat Jul 17, 2021 11:11 am We have a very large PUP (as much as Chubb would sell us).
Chubb offers limits up to $100 million. You must have a crazy high amount of insurance.
by oldfort
Thu Jul 15, 2021 9:37 pm
Forum: Personal Consumer Issues
Topic: Should I finish my engineering degree?
Replies: 71
Views: 4540

Re: Should I finish my engineering degree?

I don't undertsand how people are answering without more info. What are these three master's in? Are we talking EE and ME and Civil or Chemical or BioTech? Or different concentrations across one discipline? What is the third in? Somehow more prestigiuos than the first two or provides new opportunit...
by oldfort
Wed Jul 14, 2021 8:11 pm
Forum: Personal Consumer Issues
Topic: Should I finish my engineering degree?
Replies: 71
Views: 4540

Re: Should I finish my engineering degree?

I didn't say the chances were good, just better. Go through OP's previous threads, a series of very odd humblebrags. Entertaining though. The thread about whether he should join Mensa was epic, especially the part about how: "my wife would soon get tired of me talking about my Mensa status.&qu...
by oldfort
Wed Jul 14, 2021 7:35 pm
Forum: Personal Consumer Issues
Topic: Should I finish my engineering degree?
Replies: 71
Views: 4540

Re: Should I finish my engineering degree?

I don't undertsand how people are answering without more info. What are these three master's in? Are we talking EE and ME and Civil or Chemical or BioTech? Or different concentrations across one discipline? What is the third in? Somehow more prestigiuos than the first two or provides new opportunit...
by oldfort
Wed Jul 14, 2021 7:04 pm
Forum: Personal Consumer Issues
Topic: Should I finish my engineering degree?
Replies: 71
Views: 4540

Re: Should I finish my engineering degree?

I don't undertsand how people are answering without more info. What are these three master's in? Are we talking EE and ME and Civil or Chemical or BioTech? Or different concentrations across one discipline? What is the third in? Somehow more prestigiuos than the first two or provides new opportunit...
by oldfort
Wed Jul 14, 2021 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Disability Insurance for a 24 Year Old??
Replies: 14
Views: 922

Re: Long Term Disability Insurance for a 24 Year Old??

LTDI is expensive, think about 1% of your gross salary per year depending on occupation. Most disability tends to be short term, for one year or less. SSDI, assuming you have enough credits, provides a form of long-term disability. SSDI is most similar to an any occupation policy, not an own occupa...
by oldfort
Tue Jul 13, 2021 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: Recommended Car Insurance Limits?
Replies: 50
Views: 4705

Re: Recommended Car Insurance Limits?

Regarding #2 above. I'm asking this because I don't know the answer. Not being snarky. 1) I have excellent healthcare insurance, and my wife has very good healthcare insurance and short-term and long-term disability insurance. We also have long-term care insurance. So if one of us is in an accident...
by oldfort
Tue Jul 13, 2021 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Disability Insurance for a 24 Year Old??
Replies: 14
Views: 922

Re: Long Term Disability Insurance for a 24 Year Old??

LTDI is expensive, think about 1% of your gross salary per year depending on occupation. Most disability tends to be short term, for one year or less. SSDI, assuming you have enough credits, provides a form of long-term disability. SSDI is most similar to an any occupation policy, not an own occupa...
by oldfort
Tue Jul 13, 2021 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Disability Insurance for a 24 Year Old??
Replies: 14
Views: 922

Re: Long Term Disability Insurance for a 24 Year Old??

LTDI is expensive, think about 1% of your gross salary per year depending on occupation. Most disability tends to be short term, for one year or less. SSDI, assuming you have enough credits, provides a form of long-term disability. SSDI is most similar to an any occupation policy, not an own occupa...
by oldfort
Tue Jul 13, 2021 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Disability Insurance for a 24 Year Old??
Replies: 14
Views: 922

Re: Long Term Disability Insurance for a 24 Year Old??

LTDI is expensive, think about 1% of your gross salary per year depending on occupation. Most disability tends to be short term, for one year or less. SSDI, assuming you have enough credits, provides a form of long-term disability.
by oldfort
Mon Jul 12, 2021 10:59 pm
Forum: Personal Investments
Topic: Guidance for new grad, 1st real job
Replies: 29
Views: 2743

Re: Guidance for new grad, 1st real job

For a new grad about to start first job, this is advise I'm thinking of giving: Start setting aside $ for car, probably in a hi-yield savings acct. Planning to try to live without car initially. what am i missing? I'm not sure what location this advice would be useful for. If you live NYC, why ever...
by oldfort
Mon Jul 12, 2021 5:57 pm
Forum: Personal Consumer Issues
Topic: Colleges for STEM/CS kid - Overall rank or engineering/CS rank?
Replies: 154
Views: 10304

Re: Colleges for STEM/CS kid - Overall rank or engineering/CS rank?

fwellimort wrote: Mon Jul 12, 2021 12:48 pm
This isn't engineering. Computer Science isn't considered 'Engineering' in many reputable schools. it's a SCIENCE.
Please stop confusing the two.
At many colleges, including Stanford, CS is considered part of the College of Engineering. There’s no need to be so pedantic.
by oldfort
Sun Jul 11, 2021 4:50 pm
Forum: Personal Consumer Issues
Topic: Colleges for STEM/CS kid - Overall rank or engineering/CS rank?
Replies: 154
Views: 10304

Re: Colleges for STEM/CS kid - Overall rank or engineering/CS rank?

For a stem degree, it doesn’t matter where you went to school. Please see attached link. Now if she can get a scholarship and you don’t have to pay for it, then I would go to the best school that I can get into. https://www.collegefactual.com/parents/choosing-a-college/will-an-expensive-college-res...
by oldfort
Sun Jul 11, 2021 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Houses- Rent VS Buying
Replies: 5
Views: 930

Re: Houses- Rent VS Buying

Lots of threads on this already. If you want to hedge against inflation, owning your home is one of the few ways other than TIPS to do so in a cost-efficient manner.
by oldfort
Sun Jul 11, 2021 11:08 am
Forum: Personal Finance (Not Investing)
Topic: How did you arrive at your probable age of death?
Replies: 220
Views: 14186

Re: How did you arrive at your probable age of death?

I would like at the 2-sigma for the population overall. Essentially, that's what mine is likely: 1) studies have shown that higher income/strata individuals generally live longer than the general populace 2) while there isn't a strong correlation, there is some correlation with family.... in my cas...
by oldfort
Sat Jul 10, 2021 10:51 pm
Forum: Personal Consumer Issues
Topic: Colleges for STEM/CS kid - Overall rank or engineering/CS rank?
Replies: 154
Views: 10304

Re: Colleges for STEM/CS kid - Overall rank or engineering/CS rank?

Also, not many people want to work at FAANG. Almost everyone I know avoids Amazon (including me) because of how toxic the workplace is. Getting an offer at Amazon is probably easier than getting an offer in government agencies, hospitals, etc.. Getting a job at Amazon isn't easier than getting a jo...
by oldfort
Sat Jul 10, 2021 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: Recommended Car Insurance Limits?
Replies: 50
Views: 4705

Re: Recommended Car Insurance Limits?

Is money held in tax-advantaged retirement investments, in other words IRAs, 401Ks, 403bs, 457s etc., protected from personal liability lawsuits? If yes, shouldn't this be considered in the decision of whether or not to get an umbrella policy and how much coverage it should provide? An ERISA plan i...
by oldfort
Sat Jul 10, 2021 9:07 pm
Forum: Personal Consumer Issues
Topic: Tips to get upgrades/perks at hotels
Replies: 4
Views: 920

Re: Tips to get upgrades/perks at hotels

The way most people get perks is by doing a lot of business travel. Hilton's diamond starts at 30 nights a year. Marriott's Platinum Elite starts at 50 nights a year.
by oldfort
Sat Jul 10, 2021 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: Recommended Car Insurance Limits?
Replies: 50
Views: 4705

Re: Recommended Car Insurance Limits?

Thanks RandomPoster, I guess I'll have to check with State Farm about the possibility of getting umbrella coverage. I'll probably have to raise my auto coverage anyway to meet the minimums :happy I figure there have to be rules of thumb out there somewhere, but my Google skills have not revealed an...
by oldfort
Sat Jul 10, 2021 7:21 pm
Forum: Personal Consumer Issues
Topic: Cell phone for kid
Replies: 26
Views: 1940

Re: Cell phone for kid

What's the point of a cell phone without data? Phone calls aren't how gen Z or younger communicate. Tracfone is the cheapest option.
by oldfort
Fri Jul 09, 2021 9:09 pm
Forum: Personal Consumer Issues
Topic: Buying a new house vs. homeschool in current house
Replies: 34
Views: 3189

Re: Buying a new house vs. homeschool in current house

I don't see how this could possibly be primarily a financial decision. Do you agree with the values taught in public schools? Do you value the social interaction available in schools, COVID-19 online learning notwithstanding? Do you want your kids to have access to the ECs in schools?
by oldfort
Tue Jul 06, 2021 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: Don’t need a PUP? [personal umbrella policy]
Replies: 145
Views: 15156

Re: Don’t need a PUP? [personal umbrella policy]

the lady at the Tour de France has an October court date. Would an umbrella policy cover someone in her situation? -getting charged and potentially (?) sued. Seems similar to the 'hit a van of 15 surgeons' scenario Personal umbrella insurance does not exist in France because there is no need for it...
by oldfort
Mon Jul 05, 2021 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: How did you arrive at your probable age of death?
Replies: 220
Views: 14186

Re: How did you arrive at your probable age of death?

I would like at the 2-sigma for the population overall.
by oldfort
Mon Jul 05, 2021 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Paying kids
Replies: 72
Views: 4731

Re: Paying kids

Thanks all for the inputs. I have continued to refrain from Roth IRA for my kid. I heard from a good-earner ($200k+) that his CPA said for the income level you have after the age 5+, you can put a small amount $500 in the Roth IRA of each kid each year and it won't raise a flag. While it is temptin...
by oldfort
Mon Jun 28, 2021 6:51 pm
Forum: Investing - Theory, News & General
Topic: "The Price You Pay for College" A new Bogleheads on Investing podcast with guest, NYT columnist Ron Lieber
Replies: 42
Views: 5712

Re: "The Price You Pay for College" A new Bogleheads on Investing podcast with guest, NYT columnist Ron Lieber

4. Finally, the author also never addressed studies that indicate that there was no statistical difference in mid-career earnings for kids that could’ve got into a prestigious school, but went to a less prestigious school versus their peers that went to a prestigious school. I would’ve like to hear...
by oldfort
Sun Jun 20, 2021 12:10 am
Forum: Personal Consumer Issues
Topic: Private School - Elementary vs Middle/High (bang for the buck)
Replies: 93
Views: 9265

Re: Private School - Elementary vs Middle/High (bang for the buck)

But I think the article said exactly that. The elite private school students benefit from inside information. No, it’s not explicitly racist or classist, but it does primarily benefit white and wealthy students. Further, if you look at the “feeder schools” to the top ivys, they tend to be overwhelm...
by oldfort
Fri Jun 18, 2021 9:29 am
Forum: Personal Consumer Issues
Topic: Private School - Elementary vs Middle/High (bang for the buck)
Replies: 93
Views: 9265

Re: Private School - Elementary vs Middle/High (bang for the buck)

But the underlying question is whether you would get into a feeder school in the first place without excellent elementary school. The link you put described admission rates of the feeder schools as pretty low. The argument is basically you are just moving up the selection process to high school fro...
by oldfort
Fri Jun 18, 2021 9:12 am
Forum: Personal Consumer Issues
Topic: Private School - Elementary vs Middle/High (bang for the buck)
Replies: 93
Views: 9265

Re: Private School - Elementary vs Middle/High (bang for the buck)

Exactly. If you are not in one of those categories, it does not matter what type of high school you attend as the odds of getting into a top Ivy are miniscule. Sure, if you think the only schools worth going to are HYPMS. The Ivy League isn't a monolith. A feeder school might help an unhooked stude...
by oldfort
Fri Jun 18, 2021 12:02 am
Forum: Personal Consumer Issues
Topic: Private School - Elementary vs Middle/High (bang for the buck)
Replies: 93
Views: 9265

Re: Private School - Elementary vs Middle/High (bang for the buck)

No, your kids' friends don't matter once you factor in your family income and parents' educational background. Once you control for those variables, you really can't tell who are your kids' classmates (private vs public school). Data > opinion. Those weren't the only control variables. I posted a f...
by oldfort
Thu Jun 17, 2021 8:41 pm
Forum: Personal Consumer Issues
Topic: Private School - Elementary vs Middle/High (bang for the buck)
Replies: 93
Views: 9265

Re: Private School - Elementary vs Middle/High (bang for the buck)

I'm a semi-retired professor who attended both public and private schools. We have two small children, are highly educated, and have a high family household income. We wanted to rely on the data rather than anecdote when making this sort of decision, so we looked for large, longitudinal studies tha...
by oldfort
Thu Jun 17, 2021 7:55 pm
Forum: Personal Consumer Issues
Topic: Private School - Elementary vs Middle/High (bang for the buck)
Replies: 93
Views: 9265

Re: Private School - Elementary vs Middle/High (bang for the buck)

4. Do private schools prepare the child and provide a better opportunity to a higher ranked college (or a college of their choice)? Understand this is not a yes/no answer but your experience would be helpful to learn about and help us better understand their value. There's an admissions advantage t...
by oldfort
Wed Jun 16, 2021 10:10 pm
Forum: Personal Consumer Issues
Topic: Private School - Elementary vs Middle/High (bang for the buck)
Replies: 93
Views: 9265

Re: Private School - Elementary vs Middle/High (bang for the buck)

1. Is it better to invest In a Private school education during elementary school years - which are formative years for the child? This is a clear no to me. When applying to colleges, college see your high school name, your high school transcript, your high school LORs, and your high school ECs. At ...
by oldfort
Wed Jun 16, 2021 10:04 pm
Forum: Personal Consumer Issues
Topic: Private School - Elementary vs Middle/High (bang for the buck)
Replies: 93
Views: 9265

Re: Private School - Elementary vs Middle/High (bang for the buck)

4. Do private schools prepare the child and provide a better opportunity to a higher ranked college (or a college of their choice)? Understand this is not a yes/no answer but your experience would be helpful to learn about and help us better understand their value. There's an admissions advantage t...
by oldfort
Tue Jun 08, 2021 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: Don’t need a PUP? [personal umbrella policy]
Replies: 145
Views: 15156

Re: Don’t need a PUP? [personal umbrella policy]

This isn't true. My homeowner's covers libel and I'm with one of the mass market carriers. So you have a personal injury endorsement. Your anecdotal statement that your policy covers it doesn't mean my statement is false. I did not say "no homeowners policies cover it." If you insist on a...
by oldfort
Sun Jun 06, 2021 10:16 pm
Forum: Personal Consumer Issues
Topic: Hacking
Replies: 22
Views: 2305

Re: Hacking

Sounds like mental illness to me. Suggest they see a psychiatrist. The hackers with the ability to exploit rootkits are going after pipelines for $5 million in ransom, not joe blow for not enough to trigger an investigation. Perhaps. I have seen people get concerned like this before. In one case, i...
by oldfort
Sun Jun 06, 2021 9:36 pm
Forum: Personal Consumer Issues
Topic: Hacking
Replies: 22
Views: 2305

Re: Hacking

Sounds like mental illness to me. Suggest they see a psychiatrist. The hackers with the ability to exploit rootkits are going after pipelines for $5 million in ransom, not joe blow for not enough to trigger an investigation.
by oldfort
Sat May 29, 2021 10:29 pm
Forum: Personal Consumer Issues
Topic: Highjacked Sims Card / Money stolen from bank account
Replies: 44
Views: 5223

Re: Highjacked Sims Card / Money stolen from bank account

The problem isn't knowing that this case was flip-flopped 16 times in a day - the problem is knowing how often people deactivate and reactivate their phones on a normal day. Maybe this is a common occurrence as people work their way through Internet searches self-diagnosing phone problems. I would ...
by oldfort
Sat May 29, 2021 10:14 pm
Forum: Personal Consumer Issues
Topic: Highjacked Sims Card / Money stolen from bank account
Replies: 44
Views: 5223

Re: Highjacked Sims Card / Money stolen from bank account

The story doesn't sound believable to me. Wouldn't someone at the cell company see the first 15 activation and de-activations as suspicious? They did, and notified the customer; who not only appeared to have had all of their accounts compromised, but didn't do much to prevent the situation from get...
by oldfort
Sat May 29, 2021 9:54 pm
Forum: Personal Consumer Issues
Topic: Highjacked Sims Card / Money stolen from bank account
Replies: 44
Views: 5223

Re: Highjacked Sims Card / Money stolen from bank account

I was listening to a recent podcast from Clark Howard (5/26/2021 at 19 min https://clark.com/podcasts/), and the following scenario was described by a listener: 2/26/2021: Person's cell phone activated/deactivated 16 times. Happened again the next day. I feel like there are a lot of details missing...
by oldfort
Sat May 29, 2021 9:44 pm
Forum: Personal Consumer Issues
Topic: Highjacked Sims Card / Money stolen from bank account
Replies: 44
Views: 5223

Re: Highjacked Sims Card / Money stolen from bank account

I was listening to a recent podcast from Clark Howard (5/26/2021 at 19 min https://clark.com/podcasts/), and the following scenario was described by a listener: 2/26/2021: Person's cell phone activated/deactivated 16 times. Happened again the next day. I feel like there are a lot of details missing...
by oldfort
Sat May 29, 2021 9:00 pm
Forum: Personal Consumer Issues
Topic: Highjacked Sims Card / Money stolen from bank account
Replies: 44
Views: 5223

Re: Highjacked Sims Card / Money stolen from bank account

I was listening to a recent podcast from Clark Howard (5/26/2021 at 19 min https://clark.com/podcasts/), and the following scenario was described by a listener: 2/26/2021: Person's cell phone activated/deactivated 16 times. Happened again the next day. I feel like there are a lot of details missing...
by oldfort
Sat May 29, 2021 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Don’t need a PUP? [personal umbrella policy]
Replies: 145
Views: 15156

Re: Don’t need a PUP? [personal umbrella policy]

Umbrella insurance has an annual claim frequency in the single-digit basis points. 85% of the umbrella risk is excess auto liability, 15% is excess homeowners liability, and dropdown claims are rounding error. You're more likely to be struck by lightning. How do insurance companies price umbrella p...