Search found 346 matches

by kleiner
Tue Mar 26, 2024 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Need online payment capability without website
Replies: 4
Views: 440

Re: Need online payment capability without website

aristotelian wrote: Tue Mar 26, 2024 1:42 pm I run a similar sized nonprofit. We have used Venmo and Paypal linked to our bank account. Should work without a website as long as you have someone tracking the payments and memberships manually.
Same here. I am am a member of a model train club - we use PayPal to accept dues from the members.
by kleiner
Mon Mar 25, 2024 1:06 pm
Forum: Investing - Theory, News & General
Topic: The Evolutions of Indexes, new "Bogleheads on Investing" podcast with guest Rolf Agather
Replies: 12
Views: 1685

Re: The Evolutions of Indexes, new "Bogleheads on Investing" podcast with guest Rolf Agather

This was definitely one of the best podcast episodes in this series. It was fascinating to learn how the index creation business has changed over the years. In particular it was a bit startling to discover that that the buyers of an index (ie fund managers) can have a say in how an index is constituted. Also the difficulty in creating an index in fixed income assets was well explained. Highly recommended episode.
by kleiner
Sun Mar 24, 2024 5:47 am
Forum: Personal Consumer Issues
Topic: What Toys Have You Bought That Have Been Worth it?
Replies: 253
Views: 18250

Re: What Toys Have You Bought That Have Been Worth it?

Apple Studio Display with nano textured glass. This cost $1900 and is worth every cent I paid for it. completely eliminated glare and eye strain.
by kleiner
Wed Mar 20, 2024 4:42 am
Forum: Personal Investments
Topic: Any downsides to consolidating multiple Rollover IRAs?
Replies: 4
Views: 717

Re: Any downsides to consolidating multiple Rollover IRAs?

No disadvantages that I can think of. If you get to the point when RMDs are required with multiple IRAs, you will have to take RMDs from all of them! I consolidated all of my 401Ks into a single IRA when I retired. Much easier to manage.
by kleiner
Tue Mar 19, 2024 4:47 am
Forum: Personal Finance (Not Investing)
Topic: When did you retire? Simple questions
Replies: 45
Views: 7370

Re: When did you retire? Simple questions

1) what age did you retire? 58 2) why did you retire? Thoroughly sick of work -my company really wanted me to stay 3) are you single or married? Married 4) what is you annual spend? About $90k but we are not withdrawing from savings since my wife is still working 5) what is your total portfolio at time of retirement? $5.5M 6) do you still work in some capacity? Absolutely no work for pay in any capacity 7] any regrets about retiring and if so, why? I should have retired even sooner. I really enjoy not working 8] what advice do you have for others and learning tips/mistakes ? On many days I have the complete freedom to do whatever I want. This can actually be intimidating and sometimes leads to paralysis. I get around this by having a file w...
by kleiner
Mon Mar 18, 2024 4:25 am
Forum: Personal Finance (Not Investing)
Topic: Have any of you Frugal Zebras Changed Your (Spending) Stripes?
Replies: 139
Views: 12976

Re: Have any of you Frugal Zebras Changed Your (Spending) Stripes?

Billionaire. Probably multi-billionaire. Even if I had $100M (which assuredly I don't!), I couldn't justify an extra $5000 or $10000 just for a better airline seat. But before spending that kind of money on occasional travel, I'd splurge on something even costlier, but more systematic... something that's useful recurringly. Catered meals at my residence. Gardener, maid, and similar hired-help. Financial helper... not an investment advisor, but an accountant, tax preparer, somebody who handles my bills and so on, so that I never see a monthly statement again. In other words, servants. If you were a billionaire, you would most likely have a private jet. About the other items you mentioned, we have used these services for a long time and we a...
by kleiner
Sun Mar 17, 2024 5:11 am
Forum: Personal Consumer Issues
Topic: Buying an Expensive Car
Replies: 101
Views: 8719

Re: Buying an Expensive Car

I don't do snowboarding or mountain biking but New Zealand is a fantastic place to visit and I would assume that both of those would be great there. To me taking trips to places like New Zealand, Australia, the european Alps, Africa, etc when you are in your 30s would be a lot better use of the money than an expensive car. I second this recommendation - you can enjoy an expensive car even when you're older but a trip like this will be unforgettable. Have you ever seen a 70 year old trying to get into some low slung sports car? Have you every asked them how aggressive driving felt on the spine? Pretty easy on the other hand to sit in the jeep in africa/new zealand when your 70:). Personally I would never buy the car because it doesn't provi...
by kleiner
Sat Mar 16, 2024 10:39 am
Forum: Personal Consumer Issues
Topic: Buying an Expensive Car
Replies: 101
Views: 8719

Re: Buying an Expensive Car

Watty wrote: Sat Mar 16, 2024 9:31 am I don't do snowboarding or mountain biking but New Zealand is a fantastic place to visit and I would assume that both of those would be great there. To me taking trips to places like New Zealand, Australia, the european Alps, Africa, etc when you are in your 30s would be a lot better use of the money than an expensive car.
I second this recommendation - you can enjoy an expensive car even when you're older but a trip like this will be unforgettable.
by kleiner
Fri Mar 15, 2024 7:14 am
Forum: Personal Consumer Issues
Topic: Need Help Finding a Hobby
Replies: 76
Views: 6392

Re: Need Help Finding a Hobby

My suggestion is model trains - I have been into this hobby since I was a little kid and spent a lot of time engaged in this hobby after I retired. It combines technology with carpentry and art and is a good fir for your skills and interests.
by kleiner
Tue Mar 12, 2024 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: One spouse retiring earlier than the other?
Replies: 38
Views: 3078

Re: One spouse retiring earlier than the other?

I retired three years ago while my wife is still working. I retired because I was thoroughly burnt out while my wife really enjoys her work. I really like being retired as I have lot of hobbies and interests that keep me fully occupied. My wife has an executive level position and gets a big salary. We are able to travel to our hearts content despite her work schedule. No complaints -:happy
by kleiner
Mon Mar 11, 2024 6:19 pm
Forum: Personal Consumer Issues
Topic: When Do You Buy Airline Tickets?
Replies: 25
Views: 2500

Re: When Do You Buy Airline Tickets?

One tip - if you have a friend with a subscription to ExpertFlyer, you will be able to get additional information about the availability of various fare classes on specific flights and also which seats are occupied. A subscription costs about $100 per year so its best to seek out someone who has a paid subscription!
by kleiner
Mon Mar 11, 2024 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Have any of you Frugal Zebras Changed Your (Spending) Stripes?
Replies: 139
Views: 12976

Re: Have any of you Frugal Zebras Changed Your (Spending) Stripes?

In any case, to answer your question, we willingly paid $6500 per ticket last year for our trip to Asia. Currently, I don't see any city pair (except to China which is a special case) which exceeds approximately that amount. You didn't answer the question, what is your limit? Earlier this year, when we were considering destinations for our travel, we were thinking of Japan, which is one of the most expensive destinations (even more expensive than Australia surprisingly). I looked up the fares and found it was $7k. We agreed that we could easily manage that and stay within our comfort zone (for unrelated reasons, we picked other destinations, not Japan). Our goal is to be able to sleep in comfort on a plane, It's definitely possible to pay ...
by kleiner
Mon Mar 11, 2024 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Have any of you Frugal Zebras Changed Your (Spending) Stripes?
Replies: 139
Views: 12976

Re: Have any of you Frugal Zebras Changed Your (Spending) Stripes?

I'm looking at flights from Boston to Sydney next year and am contemplating spending the $10k for business class. The leg from LAX to Sydney is 16 hours. I'm willing to do it because I've never done it before and consider it an experiment and if I don't feel it's worth it then at least I'll know for sure and it is a fraction of net worth that will not move the retirement needle. If I find a new love for this type of traveling then I will make adjustments because it will worth it. I agree with your approach - Its good to experiment with new experiences. Example: I used credit card points to stay a night at a $600 per night hotel in LA last year. I was curious to see what it felt like to stay in an upscale hotel. Although we enjoyed our stay...
by kleiner
Mon Mar 11, 2024 7:17 am
Forum: Personal Finance (Not Investing)
Topic: Have any of you Frugal Zebras Changed Your (Spending) Stripes?
Replies: 139
Views: 12976

Re: Have any of you Frugal Zebras Changed Your (Spending) Stripes?

While for me that is exactly the kind of comfort and convenience that I’m willing to pay for (and have). Especially since you are talking about a difference that is less than 1% of our liquid assets. What is your limit? Would you pay an extra $15,000 for business class? $20,000? Let me flip the premises: In a similar thread last year, I posed the question: at what level of wealth would you pay for business class on an international one-haul flight. Several people responded that they could not conceive of any level of wealth at which they would be willing to pay for this luxury. In any case, to answer your question, we willingly paid $6500 per ticket last year for our trip to Asia. Currently, I don't see any city pair (except to China which...
by kleiner
Sun Mar 10, 2024 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: Have any of you Frugal Zebras Changed Your (Spending) Stripes?
Replies: 139
Views: 12976

Re: Have any of you Frugal Zebras Changed Your (Spending) Stripes?

Yes, but it's a struggle. About two years ago I told DW that we should spend more money, specifically on better travel options, dining out, etc. We did--I got an AMEX Platinum card, we started flying business class (international) and staying in places like Conrad. We were more of a Choice Hotels type before, at least if we were paying. We make a point sometimes of going to a 'nicer' restaurant even if the bill is $200+. I'm not sure how well it is working out. We haven't been able to make the same transition for things like cars (mine is 21 years old and I don't want a new one, DW's car is 10 and she doesn't want a new one either) or household goods. Our bedroom furniture probably cost less than $1000 total. I'm much happier fixing someth...
by kleiner
Sun Mar 10, 2024 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Have any of you Frugal Zebras Changed Your (Spending) Stripes?
Replies: 139
Views: 12976

Re: Have any of you Frugal Zebras Changed Your (Spending) Stripes?

Yes, but it's a struggle. About two years ago I told DW that we should spend more money, specifically on better travel options, dining out, etc. We did--I got an AMEX Platinum card, we started flying business class (international) and staying in places like Conrad. We were more of a Choice Hotels type before, at least if we were paying. We make a point sometimes of going to a 'nicer' restaurant even if the bill is $200+. I'm not sure how well it is working out. We haven't been able to make the same transition for things like cars (mine is 21 years old and I don't want a new one, DW's car is 10 and she doesn't want a new one either) or household goods. Our bedroom furniture probably cost less than $1000 total. I'm much happier fixing someth...
by kleiner
Wed Mar 06, 2024 4:23 pm
Forum: Investing - Theory, News & General
Topic: What good is tax deferred?
Replies: 122
Views: 15670

Re: What good is tax deferred?

He is putting away $72,000 after taxes each year. Assuming he has a mortgage and other normal expenses and is already maximizing all other retirement accounts, his income must be substantial. If he is putting away that much in after taxes is overall tax burden I would think is probably around 50% so adding an altogether I would think he is in the 20% rate. I would think at minimum he is making $250,000 and probably more per year. Actually, I just looked it up. I assumed that the 20% rate would kick in at what most people would consider making a ton of money yearly. It turns out it kicks in at $518,000 a year! I had no idea it was so high. So his capital gains are 15% for sure possibly but not certainly 20%. Apologies. I did not realize tha...
by kleiner
Tue Mar 05, 2024 4:41 am
Forum: Investing - Theory, News & General
Topic: What good is tax deferred?
Replies: 122
Views: 15670

Re: What good is tax deferred?

Roth IRAs only became available in 1998 - well after I started working in the early 1990s. By then our household income exceeded the limit for contributing to Roth IRAs and this has been the case ever since. None of the companies we worked at allowed backdoor Roth conversions either. Consequently, we always maxed out our 401Ks and invested the rest in our taxable brokerage. So now, we have more than enough in just our taxable accounts for a comfortable retirement... Unless I am mixing it up, I don’t think backdoor. Roth is related to your company. I think you open up a regular brokerage account. Then open up a traditional IRA. Then fund it with after tax dollars. As soon as the after tax dollars, go in then you converted into a Roth. I thi...
by kleiner
Mon Mar 04, 2024 2:29 pm
Forum: Investing - Theory, News & General
Topic: What good is tax deferred?
Replies: 122
Views: 15670

Re: What good is tax deferred?

Roth IRAs only became available in 1998 - well after I started working in the early 1990s. By then our household income exceeded the limit for contributing to Roth IRAs and this has been the case ever since. None of the companies we worked at allowed backdoor Roth conversions either. Consequently, we always maxed out our 401Ks and invested the rest in our taxable brokerage. So now, we have more than enough in just our taxable accounts for a comfortable retirement...
by kleiner
Sun Mar 03, 2024 7:56 am
Forum: Investing - Theory, News & General
Topic: "How much should I have in my 401k" article for various ages - thoughts?
Replies: 45
Views: 6375

Re: "How much should I have in my 401k" article for various ages - thoughts?

Triple digit golfer wrote: Sat Mar 02, 2024 9:00 pm I hate these articles because they're always income-based and they always specify 401(k) only. Why not other retirement vehicles or general taxable accounts? Or is that to be assumed, but in that case, just say how much money you should have invested.
The problem I see is that most people have only the haziest idea of how they spend their money. Assuming they spend a big chunk of their salary, the salary becomes a proxy for "money needed to support lifestyle"
by kleiner
Sun Mar 03, 2024 5:22 am
Forum: Personal Finance (Not Investing)
Topic: Real Stories of College Savings: what was your plan, and what happened?
Replies: 98
Views: 7598

Re: Real Stories of College Savings: what was your plan, and what happened?

I think a lot of people overstate the benefits of 529s. Or feel guilty about not saving for their kids college even if that’s not the best financial decision. The main benefit of a 529 is tax free growth which is really only helps if you’re able to invest a decent amount when your kids are young. Unfortunately that’s not the case for a lot of people. You make some good points - We didn't qualify for any tax deduction to our state's 529 plan since our household income was above the threshold. And yet we didn't feel secure enough to put away a lot of money for college at that point. Despite knowing that there would a very good chance that my kids would be academically oriented and go to college (both my wife and I have PhDs), I still felt un...
by kleiner
Sun Mar 03, 2024 4:43 am
Forum: Personal Consumer Issues
Topic: What are you listening to now
Replies: 5832
Views: 590724

Re: What are you listening to now

I discovered the magic of Fela Kuti recently and have been obsessively listening to all of his music but I really like the album "Teacher don't teach me nonsense" I’m listening now and I like it, thanks. Have you heard Moondog , another offbeat musician? He was a blind beggar on the streets of NYC for many years who was also a highly regarded avant-garde composer. His was a striking figure, wearing a long beard, dressed in robes, and often in the 1960s with a Viking helmet and spear. I enjoy his music. Big Brother & The Holding Company covered his song All is Loneliness on their debut album. I instantly loved the piece you linked to - I will definitely seek out more by Moondog! Something about brass in unison really strikes a...
by kleiner
Fri Mar 01, 2024 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Real Stories of College Savings: what was your plan, and what happened?
Replies: 98
Views: 7598

Re: Real Stories of College Savings: what was your plan, and what happened?

...The other thing we learned was that UT Austin grossly underestimated the cost of living off campus in Austin the entire time our kids were enrolled. It was a subject of great frustration on the Parent Group pages. It resulted in less money being able to be withdrawn from a 529 than was needed. We had only saved based on their estimates so we were not harmed too significantly by this. But others were. I would imagine that this has been rectified since then but something that I warn others about now. This is very familiar to me. In our case, my younger daughter attends Georgia Tech in Atlanta which simply doesn't have enough on-campus housing. My daughter therefore lives off-campus which is considerably more expensive in terms of rent. Ho...
by kleiner
Fri Mar 01, 2024 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Real Stories of College Savings: what was your plan, and what happened?
Replies: 98
Views: 7598

Re: Real Stories of College Savings: what was your plan, and what happened?

Somehow 529 plans never appealed to me so I skipped that completely. Instead we saved money in our brokerage account for my two daughters for college. It grew dramatically and would have been more than enough to pay for college for both daughters. However, as things turned out, we never had to dip into the brokerage account to pay for college. Instead we were able to just able to pay for college from our regular salaries as they had risen substantially. It helped that the older daughter went to our state flagship which was quite inexpensive and the younger daughter went to an out-of-state flagship that was also completely affordable. Overall, we will have spent about $360k on both daughters for college. As a result of not having to dip into...
by kleiner
Thu Feb 29, 2024 5:41 am
Forum: Personal Consumer Issues
Topic: When do electric cars stop making sense?
Replies: 210
Views: 16586

Re: When do electric cars stop making sense?

Its much the similar situation for me:
- I drive no more than 10,000 miles a year (I'm retired)
- Fuel and car maintenance are a negligible part of our annual budget
- We don't qualify for any tax breaks since my wife's salary is above the threshold.
- I have driven EVs and feel no FOMO. They are nice but nothing special from my viewpoint. I get no pleasure from driving

So I am in no hurry to get an EV just yet.
by kleiner
Thu Feb 29, 2024 4:43 am
Forum: Personal Consumer Issues
Topic: What are you listening to now
Replies: 5832
Views: 590724

Re: What are you listening to now

iceport wrote: Wed Feb 28, 2024 8:37 pm
kleiner wrote: Mon Feb 26, 2024 6:35 pm I discovered the magic of Fela Kuti recently and have been obsessively listening to all of his music but I really like the album "Teacher don't teach me nonsense"
Very interesting stuff! I had never heard anything quite like it. Seems like he built up a huge catalog of material.
Indeed - I hear a big band and James Brown influence for sure but also incorporating a lot of African themes: percussion and call-response style of singing. I love the long instrumental preludes to many of the songs - which are very long!. Felt Kuti appears to have been a real character - full of contradictions but produced great music.
by kleiner
Mon Feb 26, 2024 6:35 pm
Forum: Personal Consumer Issues
Topic: What are you listening to now
Replies: 5832
Views: 590724

Re: What are you listening to now

I discovered the magic of Fela Kuti recently and have been obsessively listening to all of his music but I really like the album "Teacher don't teach me nonsense"
by kleiner
Tue Feb 13, 2024 6:42 am
Forum: Personal Consumer Issues
Topic: Thoughts on buying cheap, used, "intermediate" range EV?
Replies: 168
Views: 14000

Re: Thoughts on buying cheap, used, "intermediate" range EV?

So folks asking themselves 'Which EV should I get that will last for 15-20 years, or have the best resale value?' are missing the point. All EVs will have 'bad' looking resale the same way computers have bad resale value. Why buy used when the newer models are better and cheaper? Around twenty years ago, I used to tell people to hold off on buying computers until they knew they really needed one since they got obsolete very quickly. In contrast, I am now typing this on a three year old M1 MacBook Air that is still has as much utility as it did on the day I bought it. I don't plan to change this laptop for the foreseeable future. I am perfectly happy to wait for as long as it takes for EVs to get to this level of maturity before I buy one. ...
by kleiner
Tue Feb 06, 2024 4:04 am
Forum: Personal Finance (Not Investing)
Topic: How did you decide your comfortable annual expense?
Replies: 40
Views: 3654

Re: How did you decide your comfortable annual expense?

There has been a surprisingly deep discussion in this topic and I have enjoyed everyone's contributions. After we started work in the 1990s, my wife and I had the goal of saving one salary and living on the other. For the most part we were able to maintain this rule of thumb for over twenty five years. For the bigger things, this has been our approach to spending until recently: - House: We have lived in the same house and renovated it over the years rather than move to a bigger house. - Education: We were in the fortunate position to be able to tell our daughters that they could apply to any college they wanted and we would pay in full. As it happens however, both girls picked state schools and we spent a lot less than I expected. - Cars: ...
by kleiner
Sun Feb 04, 2024 1:08 pm
Forum: Personal Consumer Issues
Topic: Alternative to Uber/Lyft. Anyone take car service or taxi to airport anymore?
Replies: 55
Views: 5021

Re: Alternative to Uber/Lyft. Anyone take car service or taxi to airport anymore?

Any experience with Blacklane? They contract with local car services. I'd guess it would be cheaper to find a reliable local car service. Unfortunately I've become untrusting of the entire door to door travel process. Especially for a 6:00 AM departure requiring a 4:00 AM pickup. I've had drivers tell me in the past I was requesting pickups too early and that in their view I should arrive at the airport 45 mins max before departure for an early morning flight. I don't share their view, although I'm sure some do. We've gotten to the point where on some flights we've actually driven a few extra hours to a further airport that has low cost on-site parking ($10-12 per day). Our local airport only has expensive on-site parking. When we booked b...
by kleiner
Sat Feb 03, 2024 4:41 am
Forum: Personal Investments
Topic: Options if we earn too much for Roth accounts?
Replies: 39
Views: 3264

Re: Options if we earn too much for Roth accounts?

Backdoor Roth is a relatively new concept - when we had a similar surplus thirty years ago, we just invested it in a regular taxable brokerage account. Bingo. What criteria did you use to decide bw investing surplus in a Roth vs a brokerage acct? If I won't pay capital gains and I don't need the money until retirement, would that make the Roth the better option? See, I'm only 45 but think I'll partly retire at 50. So, perhaps put part in each? My wife and I always had combined salaries sufficiently high that we were never able to contribute to a Roth IRA so that wasn't an option. Originally we thought that we would save for kids college education in the brokerage account (I didn't like the restrictions of 529 plans). As it happens however,...
by kleiner
Fri Feb 02, 2024 8:09 am
Forum: Personal Investments
Topic: Options if we earn too much for Roth accounts?
Replies: 39
Views: 3264

Re: Options if we earn too much for Roth accounts?

Backdoor Roth is a relatively new concept - when we had a similar surplus thirty years ago, we just invested it in a regular taxable brokerage account.
by kleiner
Thu Feb 01, 2024 4:30 pm
Forum: Personal Consumer Issues
Topic: Best & Worst "Mid-Life Crisis" expenditures
Replies: 129
Views: 24661

Re: Best & Worst "Mid-Life Crisis" expenditures

At 50, I was so heads down in saving mode that it didn't occur to me to have a midlife crisis 😀 Also it was 2012 and our investments had barely recovered from the 2008 crisis so we didn't feel rich at all.
by kleiner
Thu Feb 01, 2024 6:54 am
Forum: Personal Finance (Not Investing)
Topic: How much emergency cash is too much?
Replies: 32
Views: 3771

Re: How much emergency cash is too much?

This is more psychology than arithmetic. We maintain $400k in a savings account because, for my wife, that's the only thing that makes her feel safe. Mind you, we have over $7M in liquid assets so this is a relatively small fraction of our net worth.

We both came close to layoffs at various times in our respective careers so that's a contributor for her need for security. I will slowly start drawing this down this cash hoard once she retires
by kleiner
Wed Jan 31, 2024 6:40 am
Forum: Personal Finance (Not Investing)
Topic: Stuck in One More Year Syndrome
Replies: 20
Views: 3614

Re: Stuck in One More Year Syndrome

I was in a very similar situation in 2020. Both my wife and I had high salaries (combined over $600k) and we had about $5M in liquid assets. I came down with Covid in the very first wave in March 2020 - thankfully it was mild and I recovered quickly. However, the uncertainty of Covid was a real wake-up call. I have a lot of hobbies and interests and I realized that there was a real chance that I was never going to get a chance to work on them. I retired at the end of 2020 and it has been wonderful - not a day goes by when I'm not grateful to be retired. Furthermore, like you, my wife has continued to work (unlike me, she really enjoys her work) and has received several raises since I retired. Yes your contributions to your investments are g...
by kleiner
Mon Jan 29, 2024 6:43 am
Forum: Personal Finance (Not Investing)
Topic: Anyone wished they had worked a few more years before retiring?
Replies: 89
Views: 14725

Re: Anyone wished they had worked a few more years before retiring?

I retired at 57 and I have enjoyed pretty much every minute of my retirement. I have absolutely no desire to ever work again. My wife on the other hand, enjoys her work as she says it's low stress and fulfilling - so she keeps working.
by kleiner
Fri Jan 26, 2024 6:55 am
Forum: Personal Consumer Issues
Topic: Planes, trains, automobiles, boats- $$$ for hobbies
Replies: 51
Views: 5522

Re: Planes, trains, automobiles, boats- $$$ for hobbies

Since you mentioned trains in the title of this thread: my main hobby is model trains but I also enjoy building robots and tinkering with electronics. I currently spend about $3000 per year on my hobbies but that was only since I retired. To put this in context, our investments are in the range of $7.5M so my hobby spending is not significant.

Much of my hobby expenses in the recent past has been for tools that I long wanted but didn't have the time: I bought a good mitre saw and a logic analyzer (very useful for my electronics work). However, except for these big purchases, my main hobby is actually not inexpensive. last year, I spent a couple of enjoyable months becoming proficient in programming a $20 Arduino microcontroller :happy
by kleiner
Thu Jan 25, 2024 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: New Fidelity Private Client Policy?
Replies: 44
Views: 6649

Re: New Fidelity Private Client Policy?

I just logged on to my fidelity account and my account manager's picture/name is still there. I got assigned to him on a 401K rollover years ago and we have become pretty good friends. I told him up front my investment plan and he has never bugged me about changing anything. These guys can be very valuable if you need to change specifics about an account. I linked a POA and added an individual for trading purposes to my accounts. This required a lot of paper work and notarization. He handled this flawlessly. I even get invited to a nice lunch every year where a presentation on investing and the economy is delivered by one of the Fidelity associates. Never have I been asked or pressured to change my style of investing. I strictly use index ...
by kleiner
Wed Jan 24, 2024 4:10 am
Forum: Personal Finance (Not Investing)
Topic: Fire calculator- what real life considerations is it missing
Replies: 12
Views: 1580

Re: Fire calculator- what real life considerations is it missing

The main problem with simple FIRE calculators is that they don't take into account taxes and treat spending as a monolithic amount. With respect to the former - you need to consider the impact of taxes associated with withdrawing from tax deferred accounts and dividend/capital gains taxes. With respect to the latter, not all expenses are continuous and not all inflate in the same way
by kleiner
Mon Jan 22, 2024 4:20 am
Forum: Personal Consumer Issues
Topic: Purchase new car in 2024
Replies: 47
Views: 7879

Re: Purchase new car in 2024

Thanks for all the great feedback and advice and your experience. It has helped me now and in the future. I have finally decided what to do for my case. I bought new tires, stay safe. And wait a year or two to get a hybrid as that increases in production as manufacturers move away from all gas. No need for a charging station, much lower purchase price than all electric, good milage for my driving style - low mileage, city miles, less highway. I still want those safety features in new cars today, I'll get there. The world may need all electric eventually, they'll become more stable and lower cost in the not-so-distant future. So, let the early adopters that can afford them have fun now. I think hybrids are having "their day" start...
by kleiner
Fri Jan 19, 2024 7:35 am
Forum: Investing - Theory, News & General
Topic: At what invested net worth do contributions start to matter less?
Replies: 48
Views: 8342

Re: At what invested net worth do contributions start to matter less?

mortfree wrote: Fri Jan 19, 2024 2:10 am For me it’s kind of at the point where my portfolio can increase or decrease in a single day close to the amount I contribute in a year.

Right now on any given kind of normal stock market day I can be up or down say 8-10k. In a bad day 15k or so.

Which is still less than half of my annual contributions.
I had a very similar realization a couple of years ago. We then reduced my wife's 401K contribution to be just enough to get the company match. I just calculated that my wife and I have $3.4M in our tax deferred accounts which is going to be a challenge to get under control. I can't even start Roth conversions until my wife retires.
by kleiner
Thu Jan 18, 2024 7:03 am
Forum: Personal Investments
Topic: What do do with $250k in Cash for Late 50s Investor
Replies: 8
Views: 1613

Re: What do do with $250k in Cash for Late 50s Investor

truerelaxation wrote: Wed Jan 17, 2024 7:33 pm Thanks for the detailed response.

To add some more detail...The $250k is already in a retirement account. Some is in a Roth and some is in a rollover IRA. Mostly sitting in Money Market funds (aka Cash).
When will you need this money? That makes a big difference in the way it should be invested?
by kleiner
Wed Jan 17, 2024 4:38 am
Forum: Personal Consumer Issues
Topic: Using Gmail with native Apple mail app?
Replies: 12
Views: 1751

Re: Using Gmail with native Apple mail app?

H22 wrote: Tue Jan 16, 2024 5:05 pm
kleiner wrote: Tue Jan 16, 2024 9:57 am
muffins14 wrote: Tue Jan 16, 2024 4:07 am Have you tried an app called Mimestream?


https://techcrunch.com/2023/05/23/forme ... t-for-mac/

It might just be for Mac computer, not iPhone yet
I can also whole heartedly recommend Minestream. Works amazingly well on Macs and is very fast.
$50 per year?
Yes it's a yearly subscription but for me at least, I find it very worthwhile as it is much more Mac friendly than using a browser. Its also blazingly fast.
by kleiner
Tue Jan 16, 2024 9:57 am
Forum: Personal Consumer Issues
Topic: Using Gmail with native Apple mail app?
Replies: 12
Views: 1751

Re: Using Gmail with native Apple mail app?

muffins14 wrote: Tue Jan 16, 2024 4:07 am Have you tried an app called Mimestream?


https://techcrunch.com/2023/05/23/forme ... t-for-mac/

It might just be for Mac computer, not iPhone yet
I can also whole heartedly recommend Minestream. Works amazingly well on Macs and is very fast.
by kleiner
Mon Jan 08, 2024 10:02 am
Forum: Personal Investments
Topic: advice on shifting to decumulation phase
Replies: 31
Views: 8159

Re: advice on shifting to decumulation phase

I don't really see much point in leaving your money in your employer's 401K. You will have so many better investment options in an IRA - it doesn't have to be Fidelity (although that's a good place to keep your IRA if you see choose). I rolled over all of my 401Ks to Fidelity when I retired and it has worked out very well for me so far.
by kleiner
Mon Jan 08, 2024 8:02 am
Forum: Personal Finance (Not Investing)
Topic: “You’ll know when the right time is to retire”
Replies: 69
Views: 9767

Re: “You’ll know when the right time is to retire”

My career really took off in my late 40s - I got a huge increase in pay and work became exciting. I rode the wave as long as I could and was beginning to feel burnout by the age of 58. Also, by that point, our savings had increased to such an extent (well over $5M), that there was absolutely no financial need to work - the result of nearly thirty years of Boglehead style investing. Combining these factors, I decided to retire. I don't miss my job in the least and thoroughly enjoy being retired.
by kleiner
Sun Jan 07, 2024 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Mailing Q4 Estimated Payment Date
Replies: 15
Views: 1413

Re: Mailing Q4 Estimated Payment Date

Rocky Mtn Man wrote: Sun Jan 07, 2024 8:06 am "Your return is considered filed on time if the envelope is properly addressed, has enough postage, is postmarked, and is deposited in the mail by the due date." Ref: IRS website. I presume this also applies to the quarterly tax payments.

FYSA, criminals steal checks from the mail routinely. The IRS electronic payment system is more secure.
This was so timely! I was just wondering if there was a way to pay the IRS for estimated taxes when I saw your posting. The is the URL incidentally https://directpay.irs.gov/directpay/pay ... ution=e1s4
by kleiner
Sun Dec 31, 2023 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: travel budgets
Replies: 27
Views: 3988

Re: travel budgets

I track our spending in Quicken and just finished compiling our expenses for 2023. I discovered that we spent a bit over $31000 for travel. I'm 61 and retired and my wife who's a couple years younger is still working. We did almost no leisure travel in the last ten years as we had kids in college and elderly ailing parents. With the passing of our parents and kids out of the house, we have finally been able to do some fun trips. For 2023, we deliberately did not set any limit on our travel spending as we wanted to see what amount of travel suited us. Overall, we really enjoyed ourselves and I think we will maintain this level of spending for the next few years. Apart from travel, our spending is pretty minimal but I have to admit that we do...
by kleiner
Sun Dec 31, 2023 4:54 am
Forum: Personal Consumer Issues
Topic: What big hairy audacious goals do you have for 2024?
Replies: 109
Views: 15920

Re: What big hairy audacious goals do you have for 2024?

Take at least two big trips somewhere this year. For context, what I enjoy most working on my model trains in my basement but I find its good to get out of the house periodically :happy
by kleiner
Sat Dec 30, 2023 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Airline frequent flyer status: how much is it worth?
Replies: 33
Views: 3549

Re: Airline frequent flyer status: how much is it worth?

All of the airlines have been raising the bar for various levels status. My wife and I just don't travel enough to qualify for any status.

But I also have to mention that people like us are the reason why it's so much harder for status holders to get upgrades :happy . We can afford to fly first class domestically and business class internationally so we just pay for it.