Bogleheads.org

UpperNwGuy wrote: ↑Sat Sep 07, 2024 11:54 am You could also check the returns of Vanguard's Balanced Index Fund Admiral Shares (VBIAX) as that is a 60/40 portfolio in a single fund.

+1

Good call on including her in the process. And this would be designated for long term use.

Should I steer towards a target date fund or just let the conversation evolve towards anything that is well diversified?

With my own kids, money was always part of the picture. Each opened a Roth their summer between HS and college without my direction or even knowledge. I sort of know how to mold fresh clay. But not mostly molded clay.

She is a bright young person so I don't have any concerns - but thoughts on how to engage her would be helpful. Thank you.

Unfortunately, the money cannot be in her name until the age of 30. I have no choice on this one.

jebmke wrote: ↑Sat Sep 07, 2024 11:31 am an account in your name is probably the simplest solution. And name her beneficiary in case you croak before she turns 30.

Good call on the beneficiary. Thank you.

I am looking to invest on behalf of my 21 yo niece. It will be a gift.

The seed will be $1500 now, adding $500/year, until age 30.

If she were a kid, it would be an UGMA account. Is there an adult version?

My default option is to open an account in my name, gift it when the time comes, and just supply update along the way.

She will have knowledge of the gift and progress.

There is a reason it cannot be in her name until age 30. So gifting now and sending her $500/year is not an option.

Heck. Don't fight it. Get a slip and slide and turn on the hose.

Harmanic wrote: ↑Sat Sep 07, 2024 8:43 am

jebmke wrote: ↑Sat Sep 07, 2024 8:26 am SPIAs have an additional cost built in to purchase the implied longevity insurance. Generally, if one doesn't need the insurance from either a financial or psychological standpoint, they are not a good deal.

This is kind of what I am getting at in my post above. If it allows one to invest aggressively with the rest of the portfolio because the worry over SORR is gone, then it can create better longer term returns and a greater legacy or discretionary spending using something like the VPW spreadsheet.

This is true, especially from an emotional perspective.

Most are models.

Models are useful, until they are not.

* Always look at what the modeler or person telegraphing the model has to gain.

* Ask what % of models failed to predict the future (survivor bias).

Medical and climate change research have the same problem. Only those modelers supporting the current narrative receive funding and other grant money. Almost no one discusses failed models.

God, I miss weekend drives with Bob Brinker!

RIP!

May I suggest two things:

Resistance bands are an excellent complement

I love these kettlebells on Amazon (Soft Kettlebell with Handle for Weightlifting, Conditioning, Strength and core Training
Visit the BIONIC BODY Store)

I am stronger and more mobile than ever! Go slow. Worry more about completing the workouts slowly and safely. Progress and speed will come through consistency, not through any narrow or specific effort. It is just like investing!

I ordered the book.

I robbed a bank.

See my resent post - Need advice on how to manage recent $ windfall.

OP. Thank you for sharing.

Padlin wrote: ↑Sat Aug 24, 2024 8:28 am

ReadyOne wrote: ↑Sat Aug 24, 2024 7:46 am
Another hero of mine past this week too - Tom Cook of This Old House. I will say a prayer for both.

It’s Roger Cook

Oh goodness! You are correct. Ironically, I have a friend named Tom Cook!

1year23 wrote: ↑Fri Aug 23, 2024 11:04 pm I remember taping his radio show on to my cassettes so I could listen at my leisure. I still use his phrase "being in the cat birds seat". He was one of a kind.

The original podcast!

Bob Brinker was a great man!

OP, thank you for posting!

Another hero of mine past this week too - Roger Cook (corrected) of This Old House. I will say a prayer for both.

Zipline

ATV

Shaved ice at Hee Fat or Wailua

Eat at Dukes

Sunset at Tunnels Beach

It is a great airport, The ride to and from it was so interesting. Keep your phone in your pocket and look out the window.

One week additional PTO

Typically go from bonus to RSUs and even options

Golden handcuffs - again RSUs with a 5 or 10 year vest

Pension

Travels perks - bring spouse/family on business trips

Car

It depends what you value.

If it would take 2-4 days to get it replaced by a plumber, can your family live with that?

If yes, wait.

Otherwise, dollarize the decision - ignoring inflation. Let's say a pump can last 20 years but you replace it every 15 years. If a pump were $1500, you'd be spreading the cost across 15 years ($100 year) vs. 20 years ($75 year). The cost of is minimal - or not. What is this cost vs. the hassle of a failed pump.

https://creativeplanning.com/podcast/life-update/

Jon is handling this very well. I am watching and learning.

[Merged here, topic remains locked. - Moderator oldcomputerguy] https://bogleheads.podbean.com/e/episode-71-matt-hougan-discusses-the-basics-of-blockchain-and-cybercurrencies-host-rick-ferri/ This is the clearest explanation of blockchain and its uses I've heard. "Episode 71: Matt Hougan discusses the basics of blockchain and cybercurrencies, host Rick Ferri 2 days ago Matt Hougan is the Chief Investment Officer of Bitwise Asset Management, the world's largest provider of cryptocurrency index funds with more than $4 billion in assets under management. Before joining Bitwise, Matt held several notable positions in the financial industry, including CEO at Inside ETFs, Managing Director of Global Finance at Informa, and CEO of ETF.com. M...

My neighbor - who is very reasoned and well researched - was a Honda guy. He now has Tesla Model 3s.

https://humbledollar.com/2024/06/the-c- ... ses-test_7

I wish Jonathon well and thank him for contributing to my financial well being and views on money.

ZMonet wrote: ↑Sat Jun 24, 2023 2:27 pm I think that is one way of calculating it. Another would be to price what a $40,000 annuity would cost and add that to your net worth.

Most people factor in an annuity/pension by subtracting it from their yearly expenses, but I realize that isn't helpful for net worth calculations.

This makes sense to me. I would then assume this value is a bond. Stan the Annuity Man's website has easy calculators.

In the Chicago area all interesting in their own way, the Chicago Botanic Gardens, The Morton Arboretum, the grounds of Catigny and Anderson Gardens-Rockford. In Madison Wisconsin the Olbrich Botanical Gardens is pretty good. Architectural boat cruise while in town. If you have a passion for landscape architecture, check this out while in town. Source ChatGTP: Frederick Law Olmsted, often regarded as the father of American landscape architecture, made significant contributions to the urban landscape of Chicago. His work in the city includes the design of notable parks and spaces that have become integral to Chicago's identity. Here are some of his key contributions: Jackson Park: Olmsted, along with his partner Calvert Vaux, originally des...

My Papa was born in 1890 and lived until the 1980s. He outlived many. He used to quote this saying when he'd see them for what he suspected may be the last time:

"Is féidir linn scaradh inniu, a chara dhil, ach nuair a thabharfaidh cinniúint le chéile sinn arís, beidh an lúcháir i mo chroí níos gile ná grian maidine Éireannach."

"Though we part ways today, old friend, when fate brings us together once more, the joy in my heart will shine brighter than the sun on an Irish morning."

Both are great.

If you prefer more a more manicured vacation - Maui. If you prefer running your own course - the Big Island. When our kids were little, it was was Maui. When they were bigger and we needed more options and space, it was the Big Island.

Flyover country

Suburban area - pricey but not luxury

Blacktop

800 sf for $5500

Remove old, widen

Apron and parking area, separated by a side walk

Lot's of good ideas.

Back-up pumps

Downspouts that move water away from structure

Ground around structure slopes away

Check valve to protect against backflow during big storms

Make sure neighbors aren't discharging their downspouts in ways that put your structure at risk

duplicate

Imo, a lot of threads could be autofilled by ai. For example, every college thread results in the same basic points made, easy enough to fill in 100 or so posts with ai personas, ditto for how much gold to buy, ditto for tips funds vs individual tips, ditto for spias, etc. We could even have a special ai persona which encourages away anyone who posts extraordinary credentials (hedgedundie, swedoe, etc) as this too, has unfortunately become somewhat predictable. I suppose a portfolio review ai would be genuinely useful. Best, One purpose of this site is to apply information, data, and crowd wisdom to specific situations. That's the beauty of the post-and-reply format. AI often avoids specificity, but this site allows for it. When people rep...

Imo, a lot of threads could be autofilled by ai. For example, every college thread results in the same basic points made, easy enough to fill in 100 or so posts with ai personas, ditto for how much gold to buy, ditto for tips funds vs individual tips, ditto for spias, etc. We could even have a special ai persona which encourages away anyone who posts extraordinary credentials (hedgedundie, swedoe, etc) as this too, has unfortunately become somewhat predictable. I suppose a portfolio review ai would be genuinely useful. Best, One purpose of this site is to apply information, data, and crowd wisdom to specific situations. That's the beauty of the post-and-reply format. AI often avoids specificity, but this site allows for it. When people rep...

There is recently released book by Ethan Mollick called Co-Intelligence. It is a very good book and short read. He is well qualified to write the book.

He compares free versions of AI to a high school sophomore, while paid versions are closer to high level PHD students.

Free versions hallucinate at a much greater rate.

Spend the $20/month.

0.25 acre

Electric - 4 or 5 years old

It was a middle priced option from Home Depot - back then

I love it - no regrets

I assume the units are even better now

I would not even think of gas for a small lawn

A friend has 1.5 acres - he bought one of those zero turn electrics - fun!

Interesting topic. Please let us know what you decide and your logic.

I don't have any words of wisdom.

I would develop some life goals or goals for the money (charity when you die) and also scenario play (10 years of dementia).

This will inform your need or desire to take risk.

Ode to Mr. Larimore: Beneath the canopy of financial lore, Resides a sage of unwavering score, Taylor Larimore, wise beyond his years, Guiding through markets, beyond the fears. In Boston's arms, this legend was born, Through the icy blasts of life's fierce morn. A paratrooper in the throes of war, Battle of the Bulge, his valor soared. Miami schooled, in business's embrace, A life insured, a race well paced. From IRS to seas of sail, His wisdom grew with each hearty gale. A sailor true, on liquid plains, Instructor of the year, his skill remains. With Pat by side, through sixty-two springs, Their love and portfolios took wings. Drawn to Bogle’s simple, potent creed, In thrifty virtue, he found his lead. Three funds to bind them, wisdom's c...

I could jump off a diving board and swim to the side of the pool. I was that kind of swimmer.

In my 40s, I learned to swim for real. It took me some time to develop competency. I am now competent but slow. My longest pool swim was 2000 yards and open swim was 1.25 miles. I could have gone farther, that's just what I wanted to do.

I am not naturally coordinated, just a so-so athlete.

Lessons and practice both help.

OP, Your careful consideration of all factors is impressive. With your current assets totaling around $3M (including a paid-off home valued at $900K) and a detailed breakdown of expenses, you're well-positioned to make an informed decision. Since healthcare costs are a significant unknown, it's wise to estimate high for these expenses. You've already anticipated up to $720/month for a subsidized ACA plan which is prudent. Your expected Social Security income provides a substantial base to build on. Coupling this with a conservative withdrawal strategy from your investments should sustain your lifestyle. The desire to explore hobbies and volunteer is commendable. These activities not only enrich life but can also provide meaningful engagemen...

OP, I have a lot of passion for this topic. You've done a commendable job understanding the intricate impacts of scholarships on ACA subsidies. Balancing educational funding against potential increases in healthcare costs is challenging. Your strategy of potentially refusing some scholarship funds to keep your family's MAGI below the ACA threshold seems practical, especially if the increased healthcare costs would surpass the additional scholarship amount. However, this depends significantly on how your son’s income affects the ACA calculations. Consider requesting a detailed written explanation from the financial aid office regarding their stance on scholarships and ACA impacts. Reviewing this with a tax advisor or ACA consultant could pro...

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For many, Elon Musk is the most interesting person in this century - digital money, electric cars, rockets, robots, linking computers to brains, AI). That's why the interest.

His failures (hyperloop, boring machine) are interesting too.

As for investing in Elon, I am a VT ETF kind of guy.

yoga wrote: ↑Fri Apr 19, 2024 5:55 am I hope my current tween and teen are independent. If either is willing to live at home to save some money post college I'm all for it. I also hope they are relatively close, so I can cook them some food or help out with any future grandkids. So I'd really like to provide a mostly time based subsidy.

We are paying for college. We expect to transition to what you describe.

Beyond that, we may also copy our parents with modest to large, functional gifts. When we purchased our house (we were young then), mine bought us a new garage door and opener, while my spouse's bought patio furniture. I remember feeling like these things were helpful, and hopefully, we expressed enough gratitude.

Hello,

Does Vanguard or Fidelity sell individual GNMA bonds? In not them, who?

Thank you!

I rewrote 10 job descriptions in a day using Chat GTP. Jeez, this would have taken days and days before.

I am playing with PPT presentations and XLS analysis too.

Working with Chat GTP is great if you accept the iterative nature of it. And perform quality checks along the way.

I support operations that require scheduling and order flow management. I haven't seen anything great yet.

https://www.learnreligions.com/stages-o ... sm-1770068

I do not practice the religion noted in the article. However, the framework is interesting and useful. It seems we should each develop a framework to operate under.

It is clear to me from many years of reading posts here that many BHers did a bad job of picking their jobs and careers because so many, maybe most, want to flee them. As a group, we are probably no better than the rest of the population. I was on the phone yesterday with a 70 year old real estate attorney. He handles the less intellectually challenging issues, and charges a lower rate. His son is the highly charged bulldog. He works four hour/day. This is by his own admission. In our case, he will organize what we sent him, call the other attorneys involved, and try to get resolution to our issue. If he cannot, our case will be handed to his son. That's a case of right career choice. My first cousin was a lawyer, and will be retiring at 5...

I will answer for my spouse.

As a stay at home mom and part timer (now full time that kids are older), she bounced between 15 and 35 hours per week. She worked from home, with one day in the office.

3 days a week seemed like her sweet spot. The office visit kept her in social loops. The other two days she worked before the kids got up, during the school, and when needed, before bed to close any open loops.

As she enters the last part of her career, she is looking to return to 3 days per week. She likes the work and income, but wants more time to herself/pursue other interests.

Good luck.

tibbitts wrote: ↑Sat Apr 06, 2024 9:31 am

ReadyOne wrote: ↑Sat Apr 06, 2024 9:18 am If you have a pension, NW probably means less. Otherwise, it means a lot. NW - the underlying assets - need to be turned into income. A NW of $100k will generate a lot less income than $10M.

If you change that to "If you have an inflation-adjusted pension...", sure. Otherwise, less so.

Fair point.

If you have a pension, NW probably means less. Otherwise, it means a lot. NW - the underlying assets - need to be turned into income. A NW of $100k will generate a lot less income than $10M.

Now, if you want to talk about NW as a scorecard or ego boast, that's a person by person thing.

You won't find an objective answer. The thoughts are (mostly) all informative.

Leaving cost aside, I suggest visiting each campus to see which feels best. For example, Chicago will either feel really good or not. It is very urban - that works for some and not others.