Search found 985 matches

by chipperd
Mon Apr 19, 2021 5:30 am
Forum: Personal Finance (Not Investing)
Topic: How close to retirement age would you start to coast instead of grinding it out?
Replies: 123
Views: 11663

Re: How close to retirement age would you start to coast instead of grinding it out?

Unpopular opinion: if you have kids you’ve probably been coasting at work a long time. Or a horrible parent. Funny, but true... My employees without kids work about 45 hours a week and my employees with kids work about 35 hours a week. having kids is way harder than any office job I could ever imag...
by chipperd
Fri Apr 16, 2021 5:43 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 175
Views: 10606

Re: First child entering college in the fall... need some advice

Filled out the FAFSA and CSS, did not expect any aid based on our income and assets and was not surprised at the outcome. His younger brother will also be allowed to choose the best fit from the schools that accept him. ... I funded the 529s because I believe it is my obligation as a parent to prov...
by chipperd
Fri Apr 16, 2021 6:40 am
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 175
Views: 10606

Re: First child entering college in the fall... need some advice

I am astonished at how many people are basically treading water like this. I walk around my neighborhood and see people who I know do not have nearly the income that we do but always new cars, fancy furniture, $30,000 plantation shutters, $75,000 landscaping jobs, kitchen remodels, etc. etc. Then w...
by chipperd
Thu Apr 15, 2021 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 175
Views: 10606

Re: First child entering college in the fall... need some advice

Financial discounts off the full sticker price of a school come in many forms: financial aid, merit aid, Pell grants, favorable loans, athletic or other talent scholarships, private scholarships, etc. OP is discussing 2 Ivies. Most of the “discounts” you mention are explicitly off the table by Ivy ...
by chipperd
Thu Apr 15, 2021 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 175
Views: 10606

Re: First child entering college in the fall... need some advice

Who pays full MSRP sticker for private school? And again, his first of three children. MADNESS! Lots of people pay full sticker for private schools. I would say that approximately half of all students at selective private college are full pay. Overall, 11% of students pay full price : source: https...
by chipperd
Thu Apr 15, 2021 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 175
Views: 10606

Re: First child entering college in the fall... need some advice

Who pays full MSRP sticker for private school? And again, his first of three children. MADNESS! Lots of people pay full sticker for private schools. I would say that approximately half of all students at selective private college are full pay. Overall, for all schools 11% of students pay full price...
by chipperd
Thu Apr 15, 2021 10:21 am
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 175
Views: 10606

Re: First child entering college in the fall... need some advice

The OP has two weeks to put down a deposit. One could always deposit multiple schools to literally buy time to do the research that should have been done months ago, then walk away from all but one of those deposits. Not really ethical, but maybe necessary in the OP's position. I can't imagine why o...
by chipperd
Thu Apr 15, 2021 6:24 am
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 175
Views: 10606

Re: First child entering college in the fall... need some advice

AFAIK your primary residence isn’t part of the assets. Is that true? If so - you could liquidate all your taxable, sell your home and buy a huge home and hide all your money there. You could also quit your job/retire early. So - no income and no assets. Would you qualify then? The FAFSA doesn't inc...
by chipperd
Thu Apr 15, 2021 4:44 am
Forum: Personal Finance (Not Investing)
Topic: How close to retirement age would you start to coast instead of grinding it out?
Replies: 123
Views: 11663

Re: How close to retirement age would you start to coast instead of grinding it out?

"Coaster" here at age 53, although I think I would prefer "mostly retired" or "downshifting". I had a full time gig and a small, part time gig (5 hours/week) for 15 years prior to downshifting. Just before age 51, my full time employer decided I was to pricey and let me...
by chipperd
Thu Apr 15, 2021 4:17 am
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 175
Views: 10606

Re: First child entering college in the fall... need some advice

At most "top private universities" (OP's description), there is no institutional merit aid, because there doesn't have to be . These schools are already attracting the top applicants. My guess is that the $1k/year merit aid is an outside scholarship. Sorry, the highlighted portion of your...
by chipperd
Thu Apr 15, 2021 4:10 am
Forum: Investing - Theory, News & General
Topic: Another 2.8% SWR Article Quoting Wade Pfau
Replies: 252
Views: 13951

Re: Another 2.8% SWR Article Quoting Wade Pfau

I hesitate to start yet another "4% won't work" SWR thread, but I saw this WSJ article and think anything quoting Wade Pfau will be of interest to Bogleheads: https://www.wsj.com/articles/retirement-nest-egg-11617929631 "Wade Pfau, a professor at the American College of Financial Ser...
by chipperd
Wed Apr 14, 2021 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 175
Views: 10606

Re: First child entering college in the fall... need some advice

Lastly, I'm a bit concerned hearing about the level of merit aid ($1k/year if I read correctly?). I obviously don't know your daughter's academic stats, and it's great she got into an elite school, so please understand I mean no harm in saying: If she is just squeaking in, being a small fish in tha...
by chipperd
Wed Apr 14, 2021 4:00 am
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 175
Views: 10606

Re: First child entering college in the fall... need some advice

Lastly, I'm a bit concerned hearing about the level of merit aid ($1k/year if I read correctly?). I obviously don't know your daughter's academic stats, and it's great she got into an elite school, so please understand I mean no harm in saying: If she is just squeaking in, being a small fish in tha...
by chipperd
Tue Apr 13, 2021 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 175
Views: 10606

Re: First child entering college in the fall... need some advice

Thanks for all the replies. I tried to head off the "Go to State U instead" debate in my original post... I should've known that will never work with Bogleheads :D To clarify a few things: She is going for STEM The merit scholarship is $1000/year recurring I expect that she will be contri...
by chipperd
Tue Apr 13, 2021 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: How would you handle this? -- big utility company problem!
Replies: 68
Views: 4812

Re: How would you handle this? -- big utility company problem!

Contact your state rep and find out how that individual can help you deal with the utility co., as most are overseen by state gov't.
by chipperd
Tue Apr 13, 2021 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: Job Dilemma
Replies: 68
Views: 7372

Re: Job Dilemma

I'd vote for #1. Agree that, if you don't think it would damage relationships, it's useful to go back to them showing you have another job offer and asking for a raise to match at least part-way. This is in the work. Probably not something people would do often but I think I have the right relation...
by chipperd
Mon Apr 12, 2021 5:34 am
Forum: Personal Finance (Not Investing)
Topic: Liability Associated with Son's Car: Homeowner's Insurance and Umbrella
Replies: 24
Views: 1922

Re: Liability Associated with Son's Car: Homeowner's Insurance and Umbrella

Nothing to add, just a post to editorialize: Any plaintiff, lawyer, judge, or insurer who pursues or puts up with the nonsense involved in claiming that someone who happens to be related to a party to a suit is somehow magically liable for damages should be locked up in the loony bin. A 23 year old...
by chipperd
Mon Apr 12, 2021 5:10 am
Forum: Investing - Theory, News & General
Topic: Another 2.8% SWR Article Quoting Wade Pfau
Replies: 252
Views: 13951

Re: Another 2.8% SWR Article Quoting Wade Pfau

I hesitate to start yet another "4% won't work" SWR thread, but I saw this WSJ article and think anything quoting Wade Pfau will be of interest to Bogleheads: https://www.wsj.com/articles/retirement-nest-egg-11617929631 "Wade Pfau, a professor at the American College of Financial Ser...
by chipperd
Mon Apr 12, 2021 4:47 am
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 5087
Views: 1324740

Re: What Book Are You Currently Reading? Part VI

Calhoon wrote: Sat Apr 10, 2021 7:36 pm Breath by James Nestor was very good.

As the title implies, it's a book about breathing. I never would've guessed that a book on breathing would be as interesting as what it was.
Yes. I was fascinated by this book.
Currently reading "Becoming" by M. Obama.
by chipperd
Fri Apr 09, 2021 4:31 am
Forum: Personal Consumer Issues
Topic: New or Used: car purchase
Replies: 17
Views: 1278

Re: New or Used: car purchase

> Basically need decent fuel milage, off roadability, comfort, and room to haul stuff around Strong off-road ability goes along with poor gas mileage. Hate to say it, but this might be an excellent use case for a 4runner. If you're gonna have poor gas mileage you might as well have reliability. ouc...
by chipperd
Thu Apr 08, 2021 5:52 pm
Forum: Personal Consumer Issues
Topic: New or Used: car purchase
Replies: 17
Views: 1278

Re: New or Used: car purchase

The Jeep has worked well, but the engine is ticking loudly in the valvetrain. Feels like the trans is going out too. You need more information about what is wrong and how much it would be to fix it. In the worst case putting a rebuilt engine and transmission into it would worth considering compared...
by chipperd
Thu Apr 08, 2021 11:54 am
Forum: Personal Consumer Issues
Topic: Repair or Replace 2003 Toyota Corolla
Replies: 67
Views: 5631

Re: Repair or Replace 2003 Toyota Corolla

At 136,000 miles, that car is still a teenager and has more miles left in it... 300K miles is not unusual for a well cared for Corolla. Where are people getting the highlighted info above? I can't find it anywhere, in fact: Repairs won't stop at the list you posted (lots of rubber based parts in th...
by chipperd
Wed Apr 07, 2021 5:39 pm
Forum: Personal Consumer Issues
Topic: Repair or Replace 2003 Toyota Corolla
Replies: 67
Views: 5631

Re: Repair or Replace 2003 Toyota Corolla

Well, if you buy a new-to-you used car, it too will come with a history that could be good or bad. You know the history of your car. At 136,000 miles, that car is still a teenager and has more miles left in it... 300K miles is not unusual for a well cared for Corolla. Are those action items from th...
by chipperd
Mon Apr 05, 2021 4:31 am
Forum: Personal Consumer Issues
Topic: Repair or Replace 2003 Toyota Corolla
Replies: 67
Views: 5631

Re: Repair or Replace 2003 Toyota Corolla

Dear Bogleheads, I would like to seek your help in making a decision, especially from those who know cars well. I have a 2003 Toyota Corolla with 136,000 miles. This is my only car. I was planning to buy a new car at the end of the year and give Corolla to my daughter early next year when she turns...
by chipperd
Sun Apr 04, 2021 10:14 am
Forum: Investing - Theory, News & General
Topic: Incredible stock market gains the past year - probably due for a major pullback
Replies: 89
Views: 10823

Re: Incredible stock market gains the past year - probably due for a major pullback

I have been monitoring my investment portfolio + 401k portfolio for a long time - keeping track of the the monthly balances. Usually I am lucky to get a 10% total gain in investment returns for a year - but the past year has a return so great that I have calculated that it has accelerated my expect...
by chipperd
Sat Apr 03, 2021 6:33 am
Forum: Personal Finance (Not Investing)
Topic: Job Dilemma
Replies: 68
Views: 7372

Re: Job Dilema

I'm thinking similarly about your situation as JoeRetire: OP: you mentioned your FIRE number so that insinuates this is important to you (might want to rephrase as FI number unless you plan to not work at all?). IMHO: If FIRE/FI outweighs all other goals, then take job #2. If anything other than FIR...
by chipperd
Fri Apr 02, 2021 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: National Reputation of Worcester Polytechnic Institute (WPI)? other input welcome too
Replies: 211
Views: 12333

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

The let-the-kid-decide crowd is not being realistic since no teenager has one iota of knowledge of what heavy debt does to life choices. The kid would be making the decision with zero information. Not a way to enter a contract. IMO, if your children reach high school graduation without at least a f...
by chipperd
Fri Apr 02, 2021 4:53 am
Forum: Personal Finance (Not Investing)
Topic: National Reputation of Worcester Polytechnic Institute (WPI)? other input welcome too
Replies: 211
Views: 12333

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

The let-the-kid-decide crowd is not being realistic since no teenager has one iota of knowledge of what heavy debt does to life choices. The kid would be making the decision with zero information. Not a way to enter a contract. IMO, if your children reach high school graduation without at least a f...
by chipperd
Fri Apr 02, 2021 4:26 am
Forum: Personal Consumer Issues
Topic: Shopping for college
Replies: 164
Views: 12881

Re: Shopping for college

Most schools, especially those without a specific alternative mission like serving a specific religious denomination, are continually striving to move upwards in national rankings, prestige, endowments, and so forth. They are continually measuring themselves against the peer institutions with whom ...
by chipperd
Tue Mar 30, 2021 4:11 pm
Forum: Personal Consumer Issues
Topic: Shopping for college
Replies: 164
Views: 12881

Re: Shopping for college

Interesting conclusion (highlighted) that I don't entirely agree with based on our experience. I do think some get more merit vs others based on something other than GPA/SAT/ACT/niche talent, but not a vast majority. Many get little to no merit b/c the school's admissions office can't justify givin...
by chipperd
Tue Mar 30, 2021 4:05 pm
Forum: Personal Consumer Issues
Topic: Shopping for college
Replies: 164
Views: 12881

Re: Shopping for college

Interesting conclusion (highlighted) that I don't entirely agree with based on our experience. I do think some get more merit vs others based on something other than GPA/SAT/ACT/niche talent, but not a vast majority. Many get little to no merit b/c the school's admissions office can't justify givin...
by chipperd
Tue Mar 30, 2021 5:41 am
Forum: Personal Finance (Not Investing)
Topic: Remote working situation - questions
Replies: 18
Views: 2034

Re: Remote working situation - questions

I'm wondering what is the best course of action. Been at my current job for 8 months now. I think I want to stay on at my current position for at least another year so A) should I try to see if they are open to fully remote right away (if they are then I would move as soon as my apartment lease is ...
by chipperd
Tue Mar 30, 2021 5:35 am
Forum: Non-US Investing
Topic: How to treat semi-retirement?
Replies: 3
Views: 687

Re: How to treat semi-retirement?

I used many online calculators to figure out our retirement plan and while the one I'll link below isn't a Monte Carlo type simulator, it does have ways to plug in many different income levels at various points currently and going forward. Also has places for you to input spending need decreases. I ...
by chipperd
Tue Mar 30, 2021 5:14 am
Forum: Personal Consumer Issues
Topic: Shopping for college
Replies: 164
Views: 12881

Re: Shopping for college

Interesting conclusion (highlighted) that I don't entirely agree with based on our experience. I do think some get more merit vs others based on something other than GPA/SAT/ACT/niche talent, but not a vast majority. Many get little to no merit b/c the school's admissions office can't justify givin...
by chipperd
Mon Mar 29, 2021 11:03 am
Forum: Personal Consumer Issues
Topic: Shopping for college
Replies: 164
Views: 12881

Re: Shopping for college

Good news! College applications and future enrollment are down for the 2021-2022 school year. Competition should be less fierce. Yeah, I think we are seeing that in the college application process too. Several of the mid-tier schools to which my daughter applied have moved up admissions notificatio...
by chipperd
Mon Mar 29, 2021 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Retiring at 54
Replies: 66
Views: 12368

Re: Retiring at 54

:oops: Retirement is a chance to take control over your life, simplify, and live the life you want. I'm going to assume that you have figured $188,000/year pre tax is enough to support your lifestyle ($4,700,000 x .04= $188,000 pre tax: If that assumption is incorrect, my response changes) As you re...
by chipperd
Mon Mar 29, 2021 4:47 am
Forum: Personal Finance (Not Investing)
Topic: Retiring at 54
Replies: 66
Views: 12368

Re: Retiring at 54

Retirement is a chance to take control over your life, simplify, and live the life you want. I'm going to assume that you have figured $188,000/year pre tax is enough to support your lifestyle ($4,700,000 x .04= $188,000 pre tax: If that assumption is incorrect, my response changes) As you realized ...
by chipperd
Mon Mar 29, 2021 4:30 am
Forum: Personal Finance (Not Investing)
Topic: ARM 5 year 1.65% Jumbo would you?
Replies: 14
Views: 1378

Re: ARM 5 year 1.65% Jumbo would you?

surfstar wrote: Sun Mar 28, 2021 5:04 pm Why?

Just because you can do something, doesn't mean you should.
+1. I don't see any justification to pay out $23,000 in closing costs in the OP's post, nor do I read any need to have an additional $900k liquid.
by chipperd
Thu Mar 25, 2021 5:48 pm
Forum: Personal Consumer Issues
Topic: son to major in Business, advice on specialization requested
Replies: 60
Views: 2657

Re: son to major in Business, advice on specialization requested

Yeah, I worked for one of the Big 4 for three years and then moved on. You will learn a ton in a few short years at one of the Big 4 firms. You either decide to move on at that point or decide that you are going hang around to see if you can become a partner. If you don't mind me asking, how many h...
by chipperd
Thu Mar 25, 2021 5:47 pm
Forum: Personal Consumer Issues
Topic: son to major in Business, advice on specialization requested
Replies: 60
Views: 2657

Re: son to major in Business, advice on specialization requested

Your son will likely figure out what he wants to do if he follows a similar path my son is on. My son is mid 20s and he got a Finance Degree from a highly ranked regional university. (I'm not suggesting a Finance degree at all, probably something in the business school IT related may have made more...
by chipperd
Thu Mar 25, 2021 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area teacher saving half my income – why the doubt? (and asking more questions)
Replies: 652
Views: 48245

Re: Bay Area teacher saving half my income – why the doubt? (and asking more questions)

There was recently a thread about the cost to live a middle-class lifestyle in a VHCOL area. I posted that I’m a teacher in the Bay Area and my wife is a stay-at-home parent and we’re saving half our income. People began questioning how that could be but the thread was derailed and shut down before...
by chipperd
Thu Mar 25, 2021 5:31 pm
Forum: Personal Consumer Issues
Topic: son to major in Business, advice on specialization requested
Replies: 60
Views: 2657

Re: son to major in Business, advice on specialization requested

Accounting may be boring for folks like you and me, but my son has really strong math skills with a love of the business world and leverdged that into a large merit scholarship from a business school an accounting major. Now he's a junior with high paying, upcoming internship at PWC this summer and...
by chipperd
Thu Mar 25, 2021 5:20 pm
Forum: Personal Consumer Issues
Topic: son to major in Business, advice on specialization requested
Replies: 60
Views: 2657

Re: son to major in Business, advice on specialization requested

Accounting may be boring for folks like you and me, but my son has really strong math skills with a love of the business world and leverdged that into a large merit scholarship from a business school an accounting major. Now he's a junior with high paying, upcoming internship at PWC this summer and...
by chipperd
Thu Mar 25, 2021 9:42 am
Forum: Personal Consumer Issues
Topic: son to major in Business, advice on specialization requested
Replies: 60
Views: 2657

Re: son to major in Business, advice on specialization requested

Accounting may be boring for folks like you and me, but my son has really strong math skills with a love of the business world and leverdged that into a large merit scholarship from a business school an accounting major. Now he's a junior with high paying, upcoming internship at PWC this summer and ...
by chipperd
Thu Mar 25, 2021 9:37 am
Forum: Personal Investments
Topic: Advice on not stressing closer to retirement
Replies: 62
Views: 3790

Re: Advice on not stressing closer to retirement

Remember to trust the math and continue to think long term. To that end, we have 5 years living expenses in cash/liquid. Sure, it may not keep up with inflation, but it's our insurance policy and keeps the day to day market movements in perspective. Consider a cash buffer of x#years that will keep y...
by chipperd
Wed Mar 24, 2021 5:36 am
Forum: Personal Finance (Not Investing)
Topic: National Reputation of Worcester Polytechnic Institute (WPI)? other input welcome too
Replies: 211
Views: 12333

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

WPI is a great school. Our clan liked it better than RPI. National rankings can be, and are, manipulated by admissions. I toured WPI with two of my three over the past three years both of whom wanted a STEM focused school. Neither wound up attending, but WPI did offer some things others don't that h...
by chipperd
Tue Mar 23, 2021 12:22 pm
Forum: Personal Consumer Issues
Topic: Overthinking my Lawnmower Purchase (Push vs. Riding)
Replies: 56
Views: 2931

Re: Overthinking my Lawnmower Purchase (Push vs. Riding)

If you still have your older walk behind, how about buying the rider for the front and use the push for the back?
by chipperd
Fri Mar 19, 2021 11:29 am
Forum: Investing - Theory, News & General
Topic: 4% rule disputed (Again??!!)
Replies: 421
Views: 29780

Re: 4% rule disputed (Again??!!)

same story, initial bond yield argument. https://www.advisorperspectives.com/articles/2021/03/15/the-false-promise-of-u-s-historical-returns-1#:~:text=Relying%20on%20only%20historical%20U.S.,%2Dthan%2Daverage%20equity%20returns. Just to clarify, the authors of the above articles are NOT some fringe...
by chipperd
Wed Mar 17, 2021 5:18 am
Forum: Investing - Theory, News & General
Topic: 4% rule disputed (Again??!!)
Replies: 421
Views: 29780

Re: 4% rule disputed (Again??!!)

If you are going to make an argument from authority for this paper by citing Michael Finke's "renowned college", you should make the college clear: The American College of Financial Services. I'm not sure there's much value in making ad hominem arguments based on vague implications. Finke...
by chipperd
Wed Mar 17, 2021 5:07 am
Forum: Investing - Theory, News & General
Topic: 4% rule disputed (Again??!!)
Replies: 421
Views: 29780

Re: 4% rule disputed (Again??!!)

Founded by an insurance exec with many endowed chairs and professorships held by people in the insurance industry (https://www.theamericancollege.edu/about-the-college/giving/heritage) along lots of insurance money floating around The American College of Financial Services. I would imagine it might ...