Search found 788 matches

by MikeWillRetire
Fri Mar 22, 2024 6:50 pm
Forum: Personal Investments
Topic: "Retired Military" w Pension how safe, how risky should i be?
Replies: 9
Views: 1856

Re: "Retired Military" w Pension how safe, how risky should i be?

Your pensions cover your base expenses.
Pensions + SS covers your base expenses plus lots of travel.
You have $1 million to cover the bridge to SS.
$1 million equity in your house.

Well done!
by MikeWillRetire
Fri Mar 22, 2024 8:19 am
Forum: Personal Finance (Not Investing)
Topic: deduct property survey as expense for rental?
Replies: 2
Views: 209

deduct property survey as expense for rental?

My wife owns a farm that she rents out every year to a farmer. There was a question about whether an adjoining landowner was encroaching on the farm, so she hired a surveyor to stake out some of the property line. I'm wondering if this would be considered a deductible expense on our tax return?
by MikeWillRetire
Mon Mar 18, 2024 6:41 pm
Forum: Personal Consumer Issues
Topic: Lawn care for first time home buyer
Replies: 56
Views: 3734

Re: Lawn care for first time home buyer

It depends on the community. Where I live, very few people put effort into their lawn. Most don't use fertilizer or water their lawns. Half don't rake their leaves.
by MikeWillRetire
Sat Mar 16, 2024 10:01 am
Forum: Personal Consumer Issues
Topic: Utilities cost?
Replies: 57
Views: 4395

Re: Utilities cost?

We live in the Baltimore/DC suburbs.
These are our average monthly bills last year for two people:

water & sewer $60. Part of our water & sewer and stormwater is included in our property tax.
gas & electric $212.

Regarding the water & sewer rate, my son has an apartment in nearby Washington DC, and he pays twice as much as we do for water & sewer. I believe it is more than his gas & electric.
by MikeWillRetire
Fri Mar 15, 2024 9:03 pm
Forum: Personal Investments
Topic: TSP Allocation and Strategy
Replies: 51
Views: 4482

Re: TSP Allocation and Strategy

A bit late to the party here, but is the OP putting the cart before the horse? I have heard no mention of OP painstakingly reviewing anticipated pension income, FERS supplement, SS vs. expenses before arriving at his conclusion of lack of income from said pensions. Post retirement, lower taxes are a possibility as is increased spending power once you no longer are shoving xx% into retirement savings. If you have not already, I would encourage you to factor these in before concluding that you will need your tsp to pay the bills. I agree, especially when the OP was asked how he came up with the idea that his pension + SS will only cover 66% of his expenses. He replied "66% comes from the fact that my only income will come from the three...
by MikeWillRetire
Sun Mar 10, 2024 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: How Much Cash Do You Keep In Your Home?
Replies: 207
Views: 15487

Re: How Much Cash Do You Keep In Your Home?

afan wrote: Sun Mar 10, 2024 7:10 pm For those who keep cash at home, why do you do this? Why not keep it in a bank and use a credit card when you want to buy something?
I went to New York City in January, and I wanted to try Joe's pizza. Luckily I had cash because that is all they accepted. I wasn't expecting that.
by MikeWillRetire
Sun Mar 10, 2024 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: How Much Cash Do You Keep In Your Home?
Replies: 207
Views: 15487

Re: How Much Cash Do You Keep In Your Home?

About $500 in bills, and a bucket full of coins from the days when I used cash.
I keep the cash because you never know.
I keep the coins for some nostalgic reason.
by MikeWillRetire
Thu Mar 07, 2024 11:49 am
Forum: Personal Investments
Topic: May Rollover TSP to Traditional IRA - What are the inheritance issues?
Replies: 8
Views: 777

Re: May Rollover TSP to Traditional IRA - What are the inheritance issues?

One thing to note is that the TSP is protected from lawsuits and bankruptcy. IRA's have less protection.
by MikeWillRetire
Mon Mar 04, 2024 9:24 am
Forum: Personal Consumer Issues
Topic: Kitchen Cabinet Cost
Replies: 37
Views: 3271

Re: Kitchen Cabinet Cost

In 2020 (right before covid), we renovated our kitchen. The cabinets were KraftMaid, and they cost $8k. They are far from custom, but nice for the community we live in.
by MikeWillRetire
Sat Mar 02, 2024 11:47 am
Forum: Personal Consumer Issues
Topic: Products/Services with Automatic renewal
Replies: 22
Views: 1006

Re: Products/Services with Automatic renewal

I keep a document that lists all of the auto-pays and auto-renewals that I have. I keep it in our financial folder on our computer and share it with my wife.
by MikeWillRetire
Fri Mar 01, 2024 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Real Stories of College Savings: what was your plan, and what happened?
Replies: 98
Views: 7602

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

My wife and I both worked full time while raising 2 children. We learned that if you can afford daycare when they are young, you can afford private school (some of them), and you can afford the state university. The costs were very similar.
by MikeWillRetire
Sun Feb 25, 2024 4:47 pm
Forum: Personal Consumer Issues
Topic: Anyone use Shoe Goo to increase the life of their shoes
Replies: 38
Views: 3892

Re: Anyone use Shoe Goo to increase the life of their shoes

I used shoe goo in the 1980's when I was in my 20's and trying to save some money.
When my children began skateboarding, I introduced them to it. It really was the best way for them to extend the life of their beloved skateboarding shoes. They didn't care how shabby it looked!
by MikeWillRetire
Thu Feb 22, 2024 8:53 pm
Forum: Personal Consumer Issues
Topic: Has anyone ripped out a deck and replaced it with a patio?
Replies: 26
Views: 3568

Re: Has anyone ripped out a deck and replaced it with a patio?

31 years ago, I opted for a patio instead of a deck because the deck would have only been a few feet above ground.

My patio consists of clay brick pavers on a reinforced concrete slab. In between the concrete and brick is a thin layer of sand. I occasionally have to spray it with Wet & Forget to clean the bricks, and at times I use roundup if any weeds grow in the sand joints.

I can only understand building a deck if it is 5-feet or more off the ground, or if your backyard is steeply sloped.
by MikeWillRetire
Tue Feb 20, 2024 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: Excluding a young adult driver who no longer lives at home from my insurance policy
Replies: 34
Views: 2659

Re: Excluding a young adult driver who no longer lives at home from my insurance policy

I have been through this same experience when our two sons were going to college. My wife and I drove a new Toyota Camry, and we also had an old van. We have two sons who were 6'-5" tall by the time they were 17, so they could not fit in the Camry's driver seat. They drove the old van. When they went to college, they did not need a vehicle. So we sold the old van. We thought this would lower our insurance. Nope. Our insurance went up because the insurance company added them as drivers on our new Camry. We told them that they can't even fit in the drivers seat, but they wouldn't budge because they were in our household. If we had kept the old van, our insurance wouldn't have risen. Go figure. We decided not to exclude them from our insu...
by MikeWillRetire
Sat Feb 17, 2024 9:32 pm
Forum: Personal Consumer Issues
Topic: Gettysburg day trip from Washington D.C.
Replies: 29
Views: 2991

Re: Gettysburg day trip from Washington D.C.

JamesG wrote: Thu Feb 15, 2024 3:25 am Thank you everyone for your feedback, tips and advice.

I have thought about hiring a car for the day, as it would be very convenient to drive (google maps says it is only about 1.5 hours from Washington D.C.), but as 22twain rightly noted, I am used to driving on the left in a right-hand drive car, and would not feel confident hiring and driving a left-hand-drive car. Last year we hired a car while on holidays in the UK (where they at least drive on the correct side of the road!) and still found the unfamiliar traffic and road rules a bit daunting.
I don't know if it would ease your concerns about driving on the right, but you can get from DC to Gettysburg by driving on one road. Route 97.
by MikeWillRetire
Fri Feb 16, 2024 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security -- What’s in Your Retirement Plan?
Replies: 47
Views: 3684

Re: Social Security -- What’s in Your Retirement Plan?

My wife and I are in a very fortunate situation. We both have pensions, and when combined with SS at age 62, it covers all of our expenses except for travel, gifts, and charity. So we have decided to take SS at 62.
by MikeWillRetire
Sun Feb 04, 2024 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: FERS Retirement...Have done everything right (I think) and still nervous..
Replies: 56
Views: 9775

Re: FERS Retirement...Have done everything right (I think) and still nervous..

Kevlar wrote: Sun Feb 04, 2024 6:10 pm I'm likely overthinking it... :?
Just be patient. You will get a final accounting soon. I retired last March, and I have to say that OPM got it right.
by MikeWillRetire
Fri Feb 02, 2024 7:58 pm
Forum: Personal Consumer Issues
Topic: basement storage techniques
Replies: 29
Views: 2705

Re: basement storage techniques

familythriftmd wrote: Fri Feb 02, 2024 6:13 pm
MikeWillRetire wrote: Fri Feb 02, 2024 5:01 pm
familythriftmd wrote: Fri Feb 02, 2024 2:05 pm
sport wrote: Fri Feb 02, 2024 2:05 pm You can build some wooden shelving that stands next to the wall. Since it is in the basement, it does not have to be fancy. There is no need to attach the shelving to the wall.
Do you fasten your wooden shelving to the nearest joists?
That is what I have done in my basement because my shelves hold some heavy tools, and I don't want them to tip over. Unless you add some sturdy cross-bracing to the shelf, I recommend connecting them to the joists above.
Thanks!
did you use tie brackets like a poster above?
My shelves look like the picture in his post, but I didn't use any special brackets. And I extended the 2x4 posts up to the floor joists, and bolted them to it.
by MikeWillRetire
Fri Feb 02, 2024 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: Possible Move Pennsylvania to Maryland: Retirement Tax Issue?
Replies: 14
Views: 1424

Re: Possible Move Pennsylvania to Maryland: Retirement Tax Issue?

obafgkm wrote: Thu Feb 01, 2024 10:54 pm

Thank you, everybody, for your thoughts. If I move, it will be for personal reasons (family and romantic partner). I may not be able to wait until 65! :happy
And that's what you should do! Those reasons are more important than state taxes. This Marylander approves.
by MikeWillRetire
Fri Feb 02, 2024 5:01 pm
Forum: Personal Consumer Issues
Topic: basement storage techniques
Replies: 29
Views: 2705

Re: basement storage techniques

familythriftmd wrote: Fri Feb 02, 2024 2:05 pm
sport wrote: Fri Feb 02, 2024 2:05 pm You can build some wooden shelving that stands next to the wall. Since it is in the basement, it does not have to be fancy. There is no need to attach the shelving to the wall.
Do you fasten your wooden shelving to the nearest joists?
That is what I have done in my basement because my shelves hold some heavy tools, and I don't want them to tip over. Unless you add some sturdy cross-bracing to the shelf, I recommend connecting them to the joists above.
by MikeWillRetire
Mon Jan 29, 2024 10:49 am
Forum: Personal Finance (Not Investing)
Topic: FEGLI (life insurance)
Replies: 17
Views: 1493

Re: FEGLI (life insurance)

If he keeps FEGLI basic, he would be insured for an amount equal to his salary. The cost is $0.325 per month per $1000, and it does not increase as he gets older.

When he submits his retirement papers, he has the option of continuing this into retirement as is. Or if he agrees to a 75% reduction in coverage after age 65, the cost is free.

If he needs additional insurance beyond the FEGLI basic (one year of salary), the cost is expensive, and increases as he gets older.
by MikeWillRetire
Sat Jan 27, 2024 4:00 pm
Forum: Personal Consumer Issues
Topic: Retirees, how much $ do you actually need
Replies: 48
Views: 7332

Re: Retirees, how much $ do you actually need

YeahBuddy wrote: Fri Jan 26, 2024 7:19 am For anyone that recently retired, did you discover you needed 80-100% of your pre retirement pay? More? Or less?
My wife and I retired last year. Our retirement income is 65% of our pre-retirement income. That income still allows for quite a bit of discretionary spending.

We spent our working years paying off a mortgage, raising children, and paying for their education. Our expenses have dropped dramatically.
by MikeWillRetire
Wed Jan 24, 2024 9:16 pm
Forum: Personal Consumer Issues
Topic: Another Amazon Prime Stage of Evolution - Delivery
Replies: 76
Views: 7802

Re: Another Amazon Prime Stage of Evolution - Delivery

I can't complain about Amazon Prime. I'm old enough to remember buying things from catalogs and having to wait 4 to 6 weeks for delivery.
by MikeWillRetire
Sun Jan 21, 2024 2:16 pm
Forum: Investing - Theory, News & General
Topic: Dumb Question - Figuring out your number????
Replies: 20
Views: 2536

Re: Dumb Question - Figuring out your number????

Social Security We are able to collect SS along with our pensions and will probably do so at 62 in attempt to enjoy life and travel while we still can I’m not sure that makes sense to me. By claiming Social Security at 62 you were giving up a fair amount of longevity insurance. To replace that longevity insurance from your portfolio will cost more than what you gain claiming Social Security early. My whole goal for taking SS early is to use that money to live off of instead of using my money in my retirement accounts. To be honest we could easily life off of $100,000 a year but the $130,000 would be living like a king. So I need to crunch numbers but it appears to me collecting SS early is the best way to protect my retirement next egg whi...
by MikeWillRetire
Fri Jan 19, 2024 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: How would you project taxes in retirement
Replies: 38
Views: 3646

Re: How would you project taxes in retirement

ER2023 wrote: Fri Jan 19, 2024 6:42 pm Thanks for all your responses. Do any BHs just do a simple % increase for projection purposes? For example, if my taxes would be $11,144 today, is it reasonable/conservative to simply project a 50% increase ($5,572) = $16,716?
If SmartAsset calculates $11,144 for $131k, that amounts to 8.5%. I would just continue to use that percentage going forward.
by MikeWillRetire
Fri Jan 19, 2024 8:21 pm
Forum: Personal Investments
Topic: Is 30% stock enough to keep up with (or beat) inflation?
Replies: 61
Views: 11938

Re: Is 30% stock enough to keep up with (or beat) inflation?

White Coat Investor wrote: Fri Feb 17, 2017 12:59 am
rkhusky wrote:
White Coat Investor wrote:I wouldn't go below 25%.

I'm not retired, but I'm probably financially independent. I doubt I'll ever go below 50% equity, but we'll see. I may feel differently at 60-70, but I suspect I'll just annuitize some money and still keep plenty of equity.
I believe that the Government's TSP target date funds flatline at 20% stock with most of the bond allocation in the G Fund. But they get a pension and tend to be very conservative.
Yea, they obviously didn't consult me....or Benjamin Graham whose rule I stole.
The TSP L-income fund had 20% stocks a few years ago, but it is transitioning gradually to 30% by 2030 I believe. Currently, it is around 26%.
by MikeWillRetire
Wed Jan 17, 2024 4:01 pm
Forum: Personal Consumer Issues
Topic: Microsoft One Drive
Replies: 37
Views: 4580

Re: Microsoft One Drive

One Drive is a really nice service. As 02nz describes well, your files are local to your PC/laptop and synced in the background to the cloud. It's a good practice save have all of your user-generated files (documents, spreadsheets, photos, etc.) backed-up to a cloud service like One Drive. This is critical if your PC/laptop needs service, fails or if you later upgrade to a new one. I have my One Drive folders available on my iPhone and on multiple PCs/laptops as well. This is very convenient, and I know all of my files are automatically backed-up to the cloud. I also set my iPhone to automatically send any photos I take to be backed-up on One Drive as well. The photos are transferred when I am back in range of my home WIFI. Then, I have ea...
by MikeWillRetire
Tue Jan 16, 2024 1:00 pm
Forum: Personal Consumer Issues
Topic: "Floor" squeaks coming from wall?
Replies: 9
Views: 1286

Re: "Floor" squeaks coming from wall?

I had a squeaky sound in one of our rooms near a partition wall, so I added some screws to the plywood floor along the floor joists. But the sound continued. Then I drove some shims between the bottom of the wall and the plywood floor. That stopped the squeaking. I was able to do that because the room was carpeted, and I was able to pull up a portion of the carpet to drive the shim.
by MikeWillRetire
Sun Jan 14, 2024 6:18 pm
Forum: Personal Consumer Issues
Topic: Best password manager, for pc and Android?
Replies: 64
Views: 5328

Re: Best password manager, for pc and Android?

I tried Google's password manager for a while. But I was disappointed that there was no way to log out of it. So I use 1Password instead, and I have it setup to require me to enter a complicated password to use it. And it logs out when I turn off the browser.
by MikeWillRetire
Thu Jan 11, 2024 7:50 pm
Forum: Personal Consumer Issues
Topic: Passport renewal time is now much faster
Replies: 10
Views: 2278

Re: Passport renewal time is now much faster

I sent in my renewal application using USPS Priority Mail on December 1, and I believe I received my passport in less than 3 weeks. It took another week or two to receive my old passport back from them.
by MikeWillRetire
Mon Jan 01, 2024 7:59 pm
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 11152
Views: 2086230

Re: What Movie Have You Recently Watched?

"The Retirement Plan" (2023) on Hulu.

Don't be fooled by the title. It's not about retirement planning.
It stars Nicholas Cage, and don't be fooled by that either.

It's an action/crime thriller where Nicholas Cage is a retired government assassin living on the Cayman Islands, and he gets pulled back into the assassination game because of his daughter and granddaughter.

But the movie feels very amateur. Bad writing, bad acting.
by MikeWillRetire
Mon Jan 01, 2024 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: Help me understand what “25x” means?
Replies: 23
Views: 4953

Re: Help me understand what “25x” means?

I struggle with figuring out X as well. Current expenses are $43k, for retirement add $24k for HI and $12k for extra travel = $79k, just because I'm going to throw and extra $10k in there for cushion so say $89k There will be some taxes but not much and can be part of the $10k. Mrs's pension will be $26k. 6 Years after that her SS will be $17K 4 Years after that my SS will be $43k So 6 years at $89k - $26k = $63k 4 years at $89k - $26k - $17k = $46k After that $89k - $26k -$17k -$43k = $3k So what the heck is my X and what multiple should I be shooting for? Is X even useful in this situation? I've looked at the Fidelity table (vs chart) in the retirement planner with significantly below average returns and in only 1 year do I break 4%, onc...
by MikeWillRetire
Sun Dec 24, 2023 5:06 pm
Forum: Investing - Theory, News & General
Topic: A Christmas Message
Replies: 140
Views: 14663

Re: A Christmas Message

It is nuts what you and your generation went through. Thank you and Merry Christmas!
by MikeWillRetire
Sat Dec 16, 2023 9:09 pm
Forum: Personal Investments
Topic: HYSA vs. SNSXX vs. T-Bills for Emergency Savings
Replies: 8
Views: 2110

Re: HYSA vs. SNSXX vs. T-Bills for Emergency Savings

GrayfoxJames wrote: Sat Dec 16, 2023 12:35 pm

Any thoughts from more experienced investors would be highly appreciate from someone who just bought a T-Bill for the first time in his 43 year life…don’t judge I’m late to parties as well…

Thanks a bunch!
-Grayfox
I'm 61 and I bought my first T-bills this year, so I'm much later to the party than you. My wife and I have a significant amount of cash that used to be in Bank of America, but now it is in 4-week T-bills bought through Treasury Direct. We are hoping to use it in 2024 to buy a new house.
by MikeWillRetire
Sat Dec 16, 2023 3:19 pm
Forum: Personal Consumer Issues
Topic: Seek Flooring Advice; Repairing Flooded Basement
Replies: 29
Views: 3251

Re: Seek Flooring Advice; Repairing Flooded Basement

In the mid 1990's, I placed VCT in my basement. A few years later, the sump pump failed, and I had some flooding. But I was able to dry it out, and the VCT was fine. About 12 years ago, I renovated the basement. Back then, one of the popular flooring types was Pergo, a type of wood laminate. It is the type of flooring that gets destroyed it gets flooded, so I added a backup sump pump and followed the flooring manufacturer's installation instructions closely. I did not remove the VCT. I remember having to test the floor to make sure that no moisture was coming up through the slab. Once that test was ok, I had to place a layer of plastic sheeting across the floor before installing the Pergo. The floor has held up well, but I haven't had any f...
by MikeWillRetire
Thu Dec 14, 2023 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: How did having children change your perspective of money?
Replies: 58
Views: 11081

Re: How did having children change your perspective of money?

I quickly realized that our daycare expenses were higher than our mortgage. I also realized that one of us was working for little more than minimum wage after subtracting daycare. That was 27 years ago. But we were both saving for retirement, earning SS credits, etc.

Daycare expenses trained us to live on a small budget. We realized that if you can afford daycare, you can afford private school. And if you can afford private school, you can afford college. And if you can afford all of that while still saving for retirement, you will be able to retire.
by MikeWillRetire
Mon Dec 11, 2023 8:50 am
Forum: Personal Finance (Not Investing)
Topic: Tips for first TSP withdrawal?
Replies: 7
Views: 857

Re: Tips for first TSP withdrawal?

I started my monthly withdrawals in May. I assume you are aware that the TSP website is not very good, so you will need some patience. If you are married, your spouse has to sign a form online. I remember getting my first withdrawal within a week.
by MikeWillRetire
Fri Dec 08, 2023 8:41 am
Forum: Personal Consumer Issues
Topic: Parents of recent college applicants: How did it play out?
Replies: 115
Views: 20557

Re: Parents of recent college applicants: How did it play out?

My two sons did well in high school. I would say they were in the top 10% of their class. My oldest didn't have a clue about what he wanted to study, but math was his strong point. My youngest was very interested in science. When it was time to apply for college, I steered them to apply to several of our state universities. They received some scholarship offers to attend the lower rated schools, but chose to attend the flagship state university without scholarships. My oldest graduated with dual degrees in accounting and finance. He spent one summer working for an accounting firm in DC, and he did not like it at all. So he abandoned the idea of being an accountant and decided to expand upon what he did in college for spending money. Freelan...
by MikeWillRetire
Thu Dec 07, 2023 11:47 am
Forum: Personal Consumer Issues
Topic: Private High School - worth it?
Replies: 164
Views: 28811

Re: Private High School - worth it?

We put our two sons in private school for the elementary school years. We liked it, but it was expensive.

So when it was time to choose a high school, we crossed our fingers and put them in the local public high school. It wasn't a great school, but it wasn't a bad school either. It was a very diverse school, economically and racially.

Luckily, the school had AP and gifted/talented classes. My sons did well, and went on to get bachelor degrees from our flagship state university. My youngest went on to MIT and is working on his PhD now. Would private high school have been better? For my oldest son, maybe. But for my youngest son, no.
by MikeWillRetire
Sat Dec 02, 2023 10:03 am
Forum: Personal Investments
Topic: New to self managing and honestly overwhelmed
Replies: 27
Views: 2234

Re: New to self managing and honestly overwhelmed

Consider using a target date fund if you need simplicity. That's what I invested in for most of my career.
https://www.bogleheads.org/wiki/Target_date_funds
by MikeWillRetire
Mon Nov 27, 2023 4:30 pm
Forum: Investing - Theory, News & General
Topic: T-Bills or Munis?
Replies: 14
Views: 1306

Re: T-Bills or Munis?

I'm in a very similar situation as yours, and I have been buying 4-week T-bills for the last 8 months. The average yield has been around 5.3%.
by MikeWillRetire
Wed Nov 22, 2023 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: Taxcut/Turbotax Deluxe or Premier For Schedule E Rental
Replies: 6
Views: 1046

Re: Taxcut/Turbotax Deluxe or Premier For Schedule E Rental

My wife rents out two homes, and and we use Turbotax Premier.
by MikeWillRetire
Sun Nov 19, 2023 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Those of you that retired early (pre-SS/RMD) - what were your expenses like first 5-10 yrs?
Replies: 26
Views: 4056

Re: Those of you that retired early (pre-SS/RMD) - what were your expenses like first 5-10 yrs?

My wife and I retired in March. She was diagnosed with cancer a few months before, so we quickly hit the out-of-pocket maximum for healthcare costs. So we spent our discretionary/travel funds on healthcare instead. Your budget should have a good amount of discretionary spending to handle unexpected things like this.
By the way, she is doing well, so we hope to travel next year.
by MikeWillRetire
Sun Nov 12, 2023 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: Accident with uninsured driver
Replies: 100
Views: 11160

Re: Accident with uninsured driver

If I made $1M a year, I'd just go to my doctor, get my ankle taken care of and buy a new bike and call it a day. That is what I would do as well. Your time is much too valuable to be parading around to see a bunch of docs and chiros. See a good orthopedist, get PT if recommended, get a full exam by your internist/GP, and move on with life. Let your own medical insurance cover your care. (you will be out the deductible and copay). If your insurance thinks they can recover from an uninsured motorist, they will go after him. Will your homeowner's cover the bike, subject to your deducible? In the meantime if the attorney wants to make a claim for pain and suffering ($75k?), have at it. But is the $40k net to you (after expenses) worth it? This...
by MikeWillRetire
Fri Nov 10, 2023 4:41 pm
Forum: Personal Consumer Issues
Topic: How much do you spend a month on food?
Replies: 336
Views: 30457

Re: How much everyone spending on Groceries/Household items ?

lazybones18 wrote: Fri Nov 10, 2023 12:54 pm We are going through $2,000/month on groceries and household items such as detergents, toiler paper, paper towels, toothpaste etc.
basically our Costco+meatshop+local supermarket bill

3 adults + 2 kids

VHCOL / Los Angeles

what's everyone else upto ?

this inflation is wild
Your number ($400 per month per person) is much lower than I was ever able to achieve. But my wife and I both worked full-time with long commutes in the DC metro area, so we spent alot on convenience foods and eating out. We are retired now, and the kids have moved on. But we still spend twice as much per person than you do.
by MikeWillRetire
Fri Nov 10, 2023 4:24 pm
Forum: Personal Consumer Issues
Topic: Above Range Microwave Install-Need Expert Advice
Replies: 26
Views: 3351

Re: Above Range Microwave Install-Need Expert Advice

Have you considered a low profile microwave/hood? They are not as tall. You might be able to leave the 7" panel in place if you use one, and you would likely have more than 17" clearance. I have one, and it provides 19" of clearance above the stove.
https://www.whirlpool.com/kitchen/cooki ... 011hs.html
by MikeWillRetire
Wed Nov 08, 2023 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Hard to Buy a House
Replies: 90
Views: 8960

Re: Hard to Buy a House

When I buy a $100 pair of shoes, I do an hour of research. When I buy a $5,000 vacation, I do a week of research. When I buy a $25,000 car, I do a month of research. When a property hits the market, I have to act within a day (so limited opportunity to do advanced research), and then I’m given all of 30 minutes to tour a property and study its numerous details, condition, pros, cons, etc. all while a pushy talkative salesperson asks me annoying questions the whole time. And due to the climate, I then have to figure out if I’m going to make an offer within the following hour, and what that offer will look like exactly (price, terms, contingencies). And with bidding wars galore, the list price means nothing. People are tossing around 7 figur...
by MikeWillRetire
Mon Nov 06, 2023 8:21 am
Forum: Personal Consumer Issues
Topic: Suggestion for Kids packed lunch?
Replies: 57
Views: 4371

Re: Suggestion for Kids packed lunch?

My kids liked the lunches that we gave them in a thermos. Pasta and meat sauce, brunswick stew, chili, etc. On occasion we would give them meatballs and pasta sauce in the thermos, along with a hollowed out sub roll so that they could assemble their own meatball sub. That was their favorite.
by MikeWillRetire
Sat Nov 04, 2023 7:27 pm
Forum: Personal Consumer Issues
Topic: Washington DC trip
Replies: 23
Views: 3371

Re: Washington DC trip

1. There is a commuter train (Marc train) that goes between Baltimore and DC. One line (Penn Line) leaves from Baltimore's Penn station (midtown), and the other line (Camden Line) leaves from Camden Yards near the stadiums (downtown). They are commuter trains, so they run in the early morning and late afternoon. https://www.mta.maryland.gov/schedule?type=marc-train
by MikeWillRetire
Sat Oct 28, 2023 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: FERS Retirement...Have done everything right (I think) and still nervous..
Replies: 56
Views: 9775

Re: FERS Retirement...Have done everything right (I think) and still nervous..

Make sure that you are entitled to a cola before age 62. Most people in FERS do not get a cola until age 62.