Search found 51 matches

by kleiner
Tue Mar 30, 2021 10:07 am
Forum: Personal Consumer Issues
Topic: High spenders what do you spend on?
Replies: 252
Views: 24399

Re: High spenders what do you spend on?

1. Property tax of $15k: we like our house and have fixed it up to our needs. No plan to move and we can afford this very easily. You, Mr Kleiner, deserve an award for having property tax of $15k in NJ, close to NYC. Good on ‘ya. We don't live in a McMansion :happy and our town is not anywhere clos...
by kleiner
Tue Mar 30, 2021 9:23 am
Forum: Personal Consumer Issues
Topic: High spenders what do you spend on?
Replies: 252
Views: 24399

Re: High spenders what do you spend on?

For the people you label as “high spenders”, it can be hard to relate to their annual spending $ without more context such as are they in a HCOL area, in a high tax state, are healthcare costs subsidized or not, do they have dependent parents, etc. Starting this year when my spouse retires, our ann...
by kleiner
Sat Mar 27, 2021 2:56 pm
Forum: Personal Consumer Issues
Topic: High ranked Univ with liberal arts major or lower ranked school with STEM major
Replies: 121
Views: 8186

Re: High ranked Univ with liberal arts major or lower ranked school with STEM major

A bit about me: I have an engineering bachelors degree and a PhD in CS and recently retired early after a 25 year career, mostly working in AI. Rather than trying to get into a highly competitive undergraduate CS program, I would suggest a contrarian approach: get an applied math bachelors degree an...
by kleiner
Wed Mar 24, 2021 1:11 pm
Forum: Personal Consumer Issues
Topic: Engineering - Umich (OOS) - Uva (InState)
Replies: 74
Views: 2919

Re: Engineering - Umich (OOS) - Uva (InState)

Its always interesting to compare the responses to these college choice questions here on Bogleheads with those on the College Confidential forums. I would urge the OP to also post this question on those forums for a different viewpoint.
by kleiner
Sun Mar 14, 2021 10:15 am
Forum: Investing - Theory, News & General
Topic: Hitting your numbers. How to estimate when you have enough.
Replies: 175
Views: 20012

Re: Hitting your numbers. How to estimate when you have enough.

We have a typical Boglehead story in our household :happy We are in our 50s and I retired last year when our investments (401k, IRA and post-tax) exceeded $5.5M. However, my wife (who is an executive in her company) is still working and expects to do so for another couple of years so we don't have t...
by kleiner
Tue Feb 16, 2021 4:34 pm
Forum: Investing - Theory, News & General
Topic: Were You Around During Dotcom Bubble?
Replies: 266
Views: 20652

Re: Were You Around During Dotcom Bubble?

I was there too. A couple of observations: 1. Thre was an absolute giddiness at the time. Your hairdresser would give you stick tips. It preoccupied everybody and almost every conversation ... I didn’t learn much though. I read a Random Walk Down Wallstreet many years before, and had been investing...
by kleiner
Mon Feb 01, 2021 1:39 pm
Forum: Investing - Theory, News & General
Topic: What is your age and asset allocation ?
Replies: 595
Views: 55316

Re: What is your age and asset allocation ?

Age 58

Overall 63.4% Stock, 21% bonds and about 15.6% cash or equivalents
by kleiner
Mon Feb 01, 2021 12:45 pm
Forum: Investing - Theory, News & General
Topic: "Retirees--Are You Spending Too Much?"
Replies: 46
Views: 5888

Re: "Retirees--Are You Spending Too Much?"

corn18 wrote: Mon Feb 01, 2021 10:25 am
David Jay wrote: Sun Jan 31, 2021 12:00 am
MathIsMyWayr wrote: Sat Jan 30, 2021 11:48 pm How can anyone spend way more than he used to spend unless some big ticket items come up?
Buy a boat :wink:
And a horse.
"If it floats or flies, rent don't buy" 😀
by kleiner
Fri Jan 22, 2021 9:05 am
Forum: Personal Investments
Topic: So you hit your number. Now what?
Replies: 75
Views: 8514

Re: So you hit your number. Now what?

This may sound strange but I did not even realize that I had a "number" until about 2017 :happy My plan was to keep working as long as possible - I was very well paid in software development. However, after some corporate shuffles, my job became progressively more unpleasant. I then starte...
by kleiner
Tue Jan 19, 2021 11:29 am
Forum: Personal Consumer Issues
Topic: PC Build Thread - 2020... and beyond!!!
Replies: 516
Views: 34988

Re: PC Build Thread - 2020... and beyond!!!

Whats the current wisdom on a good build for playing MS Flight Simulator? Can anyone give me a pointer? Given the shortages worldwide, I probably won't be able to start the build for a few months yet but I'd like to start collecting the easier parts at least.
by kleiner
Tue Jan 12, 2021 5:28 pm
Forum: Personal Consumer Issues
Topic: What kind of car do Bogleheads like to drive?
Replies: 470
Views: 39318

Re: What kind of car do Bogleheads like to drive?

We have two Toyotas in our household, both of them hybrids. I just retired and barely drive around much. Wife's company is still in remote work mode. At this point, I could buy pretty much any reasonable car on the market for cash with a negligible impact on our finances. And yet I have absolutely n...
by kleiner
Sun Jan 10, 2021 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: What are your Lean FIRE, FIRE, and Fat FIRE numbers?
Replies: 307
Views: 25241

Re: What are your Lean FIRE, FIRE, and Fat FIRE numbers?

Has anyone crunched their numbers on retirement expenses. I'm asking a contrarian question of if you're earning $100k++/yr now, do you need $100k++/yr(adjusted for inflation) at retirement? Right now, my base expenses are about $30k/yr, and with discretionary it goes to $45k/yr. Everything beyond $...
by kleiner
Sun Jan 03, 2021 6:44 am
Forum: Personal Investments
Topic: Has Anybody Used Fidelity's Symantec VIP 2-Factor Authentication?
Replies: 60
Views: 4740

Re: Has Anybody Used Fidelity's Symantec VIP 2-Factor Authentication?

My question is will this affect Quicken access to Fidelity accounts? i.e. will I have to access the VIP software and enter the token in Quicken or is this only needed to access via the Fidelity website. I see. Sorry but I don't use Quicken so don't know the answer. 10 seconds later: I guess Google ...
by kleiner
Thu Dec 31, 2020 8:29 am
Forum: Personal Investments
Topic: Do you keep a separate brokerage account for short term and long term?
Replies: 10
Views: 1123

Re: Do you keep a separate brokerage account for short term and long term?

mindboggling wrote: Thu Dec 31, 2020 6:17 am Retired here. For me, everything in a brokerage account is long-term. Short-term is in online savings account or credit union. I also have I-bonds that can be tapped.
Same here - I consider all stock-based investments to be long term.
by kleiner
Tue Dec 29, 2020 1:31 pm
Forum: Personal Investments
Topic: Has Anybody Used Fidelity's Symantec VIP 2-Factor Authentication?
Replies: 60
Views: 4740

Re: Has Anybody Used Fidelity's Symantec VIP 2-Factor Authentication?

Not much to add to what the others have said - its a fairly standard approach to two-factor authentication. The VIP app runs on your phone and is independent of the computer on which you access the Fidelity website. Incidentally, if you use Quicken, it can access Fidelity it can access Fidelity dire...
by kleiner
Sun Dec 20, 2020 4:08 pm
Forum: Investing - Theory, News & General
Topic: Stock Market success
Replies: 112
Views: 15919

Re: Stock Market success

I bought a $1000 worth of Apple in 1998 and still own those shares - does that count? :happy
by kleiner
Sun Dec 13, 2020 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Why submit a FAFSA?
Replies: 145
Views: 8316

Re: Why submit a FAFSA?

I did not bother submitting FAFSA for either child for exactly the same reasons as mentioned by the OP. Both income and savings are far too high and it was just not worth the effort. I would prefer that financial aid go to deserving candidates.
by kleiner
Sat Dec 12, 2020 4:08 pm
Forum: Personal Investments
Topic: What’s “your number” for each kid’s 529?
Replies: 439
Views: 27812

Re: What’s “your number” for each kid’s 529?

Just caught up reading 9 pages of this thread. We somehow skipped 529s altogether and saved up for education (steady $1000 per month in index funds) in post-tax accounts. We always maxed out all of our 401Ks so retirement savings was never affected. As it happens, we never had to touch this "co...
by kleiner
Sat Dec 12, 2020 5:02 am
Forum: Personal Investments
Topic: Chasing Individual Stocks
Replies: 76
Views: 6010

Re: Chasing Individual Stocks

I used to be a customer of Sharebuilder for many years until it was finally shut down in 2018 by Capital One :annoyed For those who many not be familiar Sharebuilder was a special brokerage aimed at long-term buy-and-hold retail investors. Sharebuilder had this wonderful automated purchase mechanism...
by kleiner
Tue Dec 08, 2020 4:36 am
Forum: Personal Investments
Topic: HNW or VHNW folks, what are you invested in?
Replies: 20
Views: 2674

Re: HNW or VHNW folks, what are you invested in?

goodenyou wrote: Mon Dec 07, 2020 11:45 pm The Millionaire Next door is so banal. I am going to write the sequel “The Boglehead Next Door”.

:beer
I would gladly buy such a book :happy
by kleiner
Mon Dec 07, 2020 3:43 pm
Forum: Personal Investments
Topic: HNW or VHNW folks, what are you invested in?
Replies: 20
Views: 2674

Re: HNW or VHNW folks, what are you invested in?

In our household, we have accumulated our money (net worth over $5.5M) by steady index fund investing over a period of nearly 30 years. I've read the book and, while I found it interesting, I found that it describes an entirely different world than mine! Most of the people I know have made similar a...
by kleiner
Thu Dec 03, 2020 2:00 pm
Forum: Personal Consumer Issues
Topic: Anybody have a water-powered backup sump pump?
Replies: 14
Views: 1085

Re: Anybody have a water-powered backup sump pump?

It may seem like a bit of an overkill but I'm getting a Tesla Power Wall as backup for the whole house (we already have solar panels). One of the use cases for the Powerwall is using it as a backup for our sump pump.
by kleiner
Thu Dec 03, 2020 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Another Can I Retire Question (sorry to create yet another thread on this topic)
Replies: 60
Views: 3345

Re: Another Can I Retire Question (sorry to create yet another thread on this topic)

I've run several retirement calculators, and while all seems in order, I am just looking for reassurance/confirmation. As I indicated multiple times above, retirement for me has finality to it given my age and profession. And I didn't just ask "if" I can retire, but also if I'm overlookin...
by kleiner
Thu Dec 03, 2020 7:34 am
Forum: Personal Investments
Topic: At what milestone did you feel secure?
Replies: 156
Views: 17645

Re: At what milestone did you feel secure?

In my case I progressively felt more secure as we hit the following milestones: - Accumulating $1M in 401k - Having enough money to pay for kids college - Paying off the mortgage - Having five years of living expenses set aside in liquid investments It took a while for feeling of security to catch u...
by kleiner
Fri Nov 27, 2020 5:01 am
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 1367
Views: 184576

Re: How much money do you want to retire?

His expenses are higher than that, I don't see income tax in that number and I don't see health insurance either. Even so, he could have retired at anytime prior to when he did. Remember, his goal was $2MM and a paid off house and even after the humblebrag of superceding the original target there w...
by kleiner
Fri Nov 27, 2020 4:50 am
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 1367
Views: 184576

Re: How much money do you want to retire?

You are in late 50s and worked in machine learning/AI. I am wondering how long have you been in machine learning/AI. Are you from academia? I was wondering if anyone would pick up on that :-) I have one of the earlier PhDs in machine learning - got in the 1990s. For the first couple of decades I gr...
by kleiner
Thu Nov 26, 2020 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 1367
Views: 184576

Re: How much money do you want to retire?

I just read through 26 pages (!) of this thread as it is of great interest to me because I just retired a couple months ago. I was beginning to second-guess myself a bit but reading through everyone else's targets has me convinced that I made the right call (to retire that is). I'm in my late 50s, w...
by kleiner
Thu Nov 19, 2020 5:19 am
Forum: Personal Investments
Topic: Any way to exclude FAANG company from S&P index fund?
Replies: 20
Views: 3047

Re: Any way to exclude FAANG company from S&P index fund?

000 wrote: Thu Nov 19, 2020 12:11 am SPXT excludes some of them.
Thanks - this is exactly what I was looking for!
by kleiner
Sun Nov 15, 2020 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 543
Views: 141637

Re: If your net worth is over $3 million, how did you do it?

We are currently with about $5.5M. How we got here: - Worked in relatively high paying jobs for many years, wife in pharmaceuticals and myself in advanced software research. We both started work in the early 90s after finishing our PhDs, thankfully with no student debt but close to zero savings. All...
by kleiner
Fri Oct 30, 2020 8:19 am
Forum: Investing - Theory, News & General
Topic: Where would you be if you had invested like a Boglehead from the beginning?
Replies: 107
Views: 8093

Re: Where would you be if you had invested like a Boglehead from the beginning?

I started post-tax index fund investing as far back 1994 but I did not make my investments automatic until 1999. However, after 199, I have been making monthly automated investments without a break. But there are two things that I wish I had done: I wish I had started automated investments sooner. I...
by kleiner
Wed Oct 28, 2020 11:45 am
Forum: Investing - Theory, News & General
Topic: first million [in your retirement portfolio]
Replies: 217
Views: 37087

Re: first million

1) what age did you hit your first million in your retirement portfolio? 2) what age did you start? 3) was some of this savings inherited? self made? combination of both? Studies show that around 75% millionaires are self made; took about 2-3 decades to hit millionaire mark I understand many of us ...
by kleiner
Fri Oct 02, 2020 6:34 am
Forum: Personal Finance (Not Investing)
Topic: How well did you predict your income growth?
Replies: 52
Views: 4189

Re: How well did you predict your income growth?

I had absolutely no idea how much I would make in my career. The actual amount I earned vastly exceeded my expectations. It's not over and I expect a huge nose dive at any time (old guy in IT is uncommon).... I never bothered to project, just did what I could along the way. Made some mistakes and s...
by kleiner
Wed Sep 30, 2020 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: How well did you predict your income growth?
Replies: 52
Views: 4189

Re: How well did you predict your income growth?

I had absolutely no idea how much I would make in my career. The actual amount I earned vastly exceeded my expectations.
by kleiner
Wed Aug 12, 2020 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2497
Views: 572505

Re: Share your net worth progression

$2M is the point where things started to look much more comfortable for me too. Would you mind sharing how crossing each Million felt for you psychologically ? Before I hit 1M, I always thought of 2.5M as my terminal wealth, I,e NW on the day I retire in the future. Crossing the first 1M in my thir...
by kleiner
Tue Aug 11, 2020 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2497
Views: 572505

Re: Share your net worth progression

1/1/09: -$210K (started working this year) 1/1/10: -$120K 1/1/11: -$35K 1/1/12: $150K 1/1/13: $300K 1/1/14: $510K 1/1/15: $670K 1/1/16: $740K 1/1/17: $1.1M 1/1/18: $1.2M 1/1/19: $1.4M 1/1/20: $1.8M 8/11/20: $2.4M Have been FI in my mind for a while, but just now starting to feel rich. Nice progress...
by kleiner
Tue Aug 11, 2020 10:28 am
Forum: Personal Finance (Not Investing)
Topic: What did you do when you won the game? Edited
Replies: 53
Views: 6820

Re: What did you do when you won the game? Edited

Using various FIRE calculators in the middle of 2019, I came to the conclusion that I had comfortably exceeded my "number" by a wide margin. I then immediately quit my well-paying but exceedingly boring job at a tech megacorp, took some time off and joined a startup working in a much more ...
by kleiner
Fri Aug 07, 2020 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Losing a job in your 50's...
Replies: 674
Views: 103359

Re: Losing a job in your 50's...

I feel you. If you want to learn to hate the thing you love, do it for a living. I think that has happened to me. I think a lot about that when I see professional poker players or airline pilots. Like do they feel the same way? How fun is it to pilot a Southwest 737 from Tampa to Baltimore and Prov...
by kleiner
Fri Aug 07, 2020 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Losing a job in your 50's...
Replies: 674
Views: 103359

Re: Losing a job in your 50's...

I've worked for almost thirty years in software, mostly in research but also some product development. I have a PhD in CS machine learning, probably one of the earliest ever. My joke has always been that I have been paid very handsomely, basically for knowing some linear algebra and basic calculus, ...
by kleiner
Thu Jul 23, 2020 7:20 am
Forum: Personal Finance (Not Investing)
Topic: Deciding whether to retire - it's difficult!
Replies: 77
Views: 9892

Re: Deciding whether to retire - it's difficult!

There’s a reason why they say that a salary is like a drug and employees are like addicts This is so true! No matter how much money you have in the bank, you absolutely feel a need for that bi-monthly jolt of cash. Its taken me a year to get over this fear so I can give notice to retire in a couple...
by kleiner
Sun Jul 19, 2020 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Deciding whether to retire - it's difficult!
Replies: 77
Views: 9892

Re: Deciding whether to retire - it's difficult!

I have some eerie similarities with the OP's situation. I am in my late 50s with savings of about $5M invested plus a fully paid off house and with no other debt. Also, exactly like the OP, my wife plans to keep working - in fact we have always been on her health insurance as my company's plan was n...
by kleiner
Wed Jul 08, 2020 6:46 am
Forum: Personal Investments
Topic: CD vs. Deferred Fixed Annuity
Replies: 17
Views: 2258

Re: CD vs. Deferred Fixed Annuity

The topic of multi year guaranteed annuities (MYGAs) has been discussed several times recently. See the thread below for a deeper discussion than what is the thread you posted to. Note especially gjlynch17’s post near the top of that thread. https://www.bogleheads.org/forum/viewtopic.php?f=1&t=...
by kleiner
Wed Jul 08, 2020 4:19 am
Forum: Personal Investments
Topic: CD vs. Deferred Fixed Annuity
Replies: 17
Views: 2258

Re: CD vs. Deferred Fixed Annuity

Apologies for bringing this thread back to life but I am beginning to think that deferred fixed annuities may be a good option for me. I have nearly $800k sitting in savings accounts (out of a net worth of about $5 million). I will very likely need about $300k for college expenses starting next year...
by kleiner
Mon Jul 06, 2020 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2497
Views: 572505

Re: Share your networth progression

The book, The Millionaire Next Door , took a survey of millionaires. They asked the millionaires if they tracked their net worth a. Yearly b. Quarterly c. Monthly d. Not at all If I recall the trend, almost all answered a, b, or c. The people who answered "a" had the least of the average ...
by kleiner
Sat Jun 27, 2020 8:25 am
Forum: Personal Finance (Not Investing)
Topic: How I learned to love my low yield emergency fund
Replies: 53
Views: 6625

Re: How I learned to love my low yield emergency fund

I have 2 years emergency fund. I can sleep like a baby at night. Also, I use the eFund to do various bank bonuses. So effective APY is usually much higher than even the best bank/CD rates out there. I'm exactly the same - having several years of expenditures in cash helps me sleep better at night f...
by kleiner
Mon Jun 15, 2020 1:58 pm
Forum: Personal Consumer Issues
Topic: Do you reward yourself for achieving a financial goal?
Replies: 167
Views: 12497

Re: Do you reward yourself for achieving a financial goal?

Two words: business class :D (though only occasionally) Other than this, I’ve promised myself rewards at various milestones, but to date I’ve just never really pulled the trigger, instead I just set a new higher goal. That said, I would allow for myself to buy the promised toy if the right deal/opp...
by kleiner
Mon Jun 08, 2020 4:24 am
Forum: Personal Finance (Not Investing)
Topic: Do you hold cash for large expenses?
Replies: 29
Views: 2822

Re: Do you hold cash for large expenses?

The answer to your question is definitely yes. My daughter starts college next year and we have set aside the money for that in a separate savings account. If you know that you have a big expense in the immediate future, nothing wrong in setting aside the money for that.
by kleiner
Thu Jun 04, 2020 8:53 am
Forum: Personal Finance (Not Investing)
Topic: 529 Plan Strategy
Replies: 30
Views: 2255

Re: 529 Plan Strategy

We completely skipped 529s and simply saved college money in a regular post-tax brokerage account. Our reasoning was that if things went badly (say wife or I lost a job), this would become regular savings. As it happens, we never had to dip into the savings and were able to pay for college out of cu...
by kleiner
Tue Jun 02, 2020 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2497
Views: 572505

Re: Share your net worth progression

indexlover wrote: Tue Jun 02, 2020 12:47 pm Is your house included in the networth ? Good job on your savings and your disciplined investments.
Thanks! I have not included the value of my house in my net worth. The house is probably worth about $600k at this point.
by kleiner
Tue Jun 02, 2020 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2497
Views: 572505

Re: Share your net worth progression

Beautiful. Bravo. Would you mind sharing your investment strategy? Thanks for your complement, but this is mainly due to slow and steady investing in index funds. In addition to maxing out our 401ks right from the start, we have been great believers in automated monthly investments. We started with...
by kleiner
Tue Jun 02, 2020 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2497
Views: 572505

Re: Share your net worth progression

Very impressive Kleiner. Curious if u have kids and also high or low cost of living area ? We do live in a HCOL area, in New Jersey (a suburb of NY City). We have two kids, older one has just finished college while the younger one will be starting college next year (money for that is separate and I...