Search found 8227 matches

by EnjoyIt
Wed Mar 27, 2024 6:55 am
Forum: Personal Finance (Not Investing)
Topic: Dedicated Financial Computer Master Thread
Replies: 207
Views: 9532

Re: Dedicated Financial Computer Master Thread

For all the IT gurus here.

I wonder how protected we are being in the Mac ecosystem.
by EnjoyIt
Tue Mar 26, 2024 11:57 pm
Forum: Personal Finance (Not Investing)
Topic: Any advice on how to manaage cashflow when % of income is variable?
Replies: 38
Views: 1747

Re: Any advice on how to manaage cashflow when % of income is variable?

We live in a VHCOL area. Our mortgage is $5k a month, car is $600 per month, groceries are $2k a month, our kids are in a private pre-school until next year (there is no public pre-school option) which costs $25k a year. We contribute $300 a month to 529, and we fully fund HSA and 401k. My wife is SAHM. Obviously we're not 'pay check to pay check', but we're at the point where our actual basic living expense including 401k, 529, HSA etc are probably in the $320k range. You itemized about $12k of monthly expenses (counting 529, HSA, and 401k). That's $144k/year. Rough estimate of $90k of taxes off base salary. Where is the other $66k going? I would drill down into your expenses to see where your money is going. Seems like you should be able...
by EnjoyIt
Tue Mar 26, 2024 10:19 am
Forum: Personal Investments
Topic: Apple ... stay the course or scale back?
Replies: 177
Views: 33390

Re: Apple ... stay the course or scale back?

Kind of amusing that a good percentage of this responses are from very conservative investors who have the majority of their investments in Vanguard and Fidelity. Nothing wrong with this and it will yield good results long term but nowhere as investing the the Magnificent 7. My favorite equity currently is NVidia and I've done extremely well trading this over Apple. No avoiding taxes and especially IRMAA but I am happy at the end of each calendar year. There will come a time when I eventually park "all" our retirement investments in T-Bills and CD's but until my skillsets wane it keeps me sharp dabbling in the markets. "stay the course" doesn't usually apply to trading in individual stocks. You have to pay attention to ...
by EnjoyIt
Tue Mar 26, 2024 9:21 am
Forum: Personal Consumer Issues
Topic: When brand names matter and when they don't
Replies: 193
Views: 11782

Re: When brand names matter and when they don't

Yes, of course it's possible, but you seem inclined to believe it's so, whereas I'm inclined not to. A cow raised in a better environment producing better beef doesn't necessarily mean its milk will follow suit; again, two different substances entirely. Note I'm not saying any of this definitively...and really, whether a "better" cow's milk is better is subjective anyway, at least in terms of taste. No, it really does matter. There are areas where, going by taste, it’s hard to taste the benefits of organic produce. Milk isn’t one of them. Sorry, but nobody's opinion - yours, mine, or others - equates to fact. And IMO "organic" is one of the biggest marketing shams in recent memory. My step mother in law is an organic on...
by EnjoyIt
Mon Mar 25, 2024 11:31 am
Forum: Personal Consumer Issues
Topic: What Toys Have You Bought That Have Been Worth it?
Replies: 254
Views: 18321

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

I disagree. I started at age 43 and have been playing now for seven years. I possess zero special skill or talent. I posted my progress on here to document how it’s been going after asking other BHs what they thought about starting the violin as an adult. I can say with 100% confidence that anyone that wants to lean to play and makes a sincere effort will likely achieve a basic proficiency after five years. I can say with 100% confidence that it isn't true for everyone (and you are not giving yourself enough credit). Anything which requires skill and talent to do at a proficient level or better is something not everyone can do. Some pick it up easily, some not so easily, some never will no matter how hard they try. Sure you have to put the...
by EnjoyIt
Sun Mar 24, 2024 8:17 pm
Forum: Personal Consumer Issues
Topic: When brand names matter and when they don't
Replies: 193
Views: 11782

Re: When brand names matter and when they don't

madbrain wrote: Sun Mar 24, 2024 5:45 pm
EnjoyIt wrote: Sun Mar 24, 2024 11:35 am
jebmke wrote: Sun Mar 24, 2024 10:57 am
EnjoyIt wrote: Sun Mar 24, 2024 10:52 am I try to avoid high fructose corn syrup as much as reasonably possible and willing to pay a bit more for that luxury.
same; very hard to digest for me. Also all the "ol" sugar/sugar alcohol molecules (sorbitol, mannitol, maltitol, and xylitol being common ones)
I digest it just fine.... I believe. I simply don't want to ingest this stuff.
It all depends on the quantity. After a certain amount, it will give you the runs. Several candy manufacturers took their sugar alcohol candy off the market because of this. People kept eating the whole package of zero sugar candy ;)
Reminds me of those olestra chips that came out years ago. Yuk!!!!
by EnjoyIt
Sun Mar 24, 2024 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Dedicated Financial Computer Master Thread
Replies: 207
Views: 9532

Re: Dedicated Financial Computer Master Thread

This topic occasionally comes up but is fairly hard to search on the form. So how many people are using a dedicated financial computer as their only means of online access to their accounts? Any tips or tricks you think are worth sharing? I use a MacBook pro for all my day to day competing and looking at my finances. I also use my iPhone to log into and do my finances. I never do it on a public network. Now, to answer your question, I do my corporate taxes on a dedicated PC because turbotax does not have a mac version of their corporate software. We bought a used mini all in one PC that was likely in some corporate office bought and then resold in bulk when they upgraded. I think it cost me maybe $250 and came with windows installed. Once ...
by EnjoyIt
Sun Mar 24, 2024 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Form 5500 traditional/Roth 401k filing.
Replies: 18
Views: 1562

Re: Form 5500 traditional/Roth 401k filing.

May I ask, what is the harm in filling out an unnecessary 5500-EZ form for 2023? I doubt there is a penalty. I ask for my own curiosity. Next year with new contributions there is a good chance mindboggled will be over $250k. The form is very EZ to do. You should do whatever makes you most comfortable. I cannot answer how the IRS views gratuitous filings. I personally would not file anything with the IRS if not required as I don’t need to put myself on their radar or open myself up to inquiries on a not-required filing. A poster in a thread within the last couple months (sorry, couldn’t find it to link) who filed a Form 5500-EZ voluntarily (i.e., 12/31 balance < $250k) commented that they had received an IRS letter a couple years later remi...
by EnjoyIt
Sun Mar 24, 2024 12:21 pm
Forum: Investing - Theory, News & General
Topic: just a general comment about "too conservative" investors here
Replies: 246
Views: 40576

Re: just a general comment about "too conservative" investors here

I am 40/60 with 15% of fixed income in cash. Retired one year. No pension, no social security for at least a few years. I wonder how conservative that is? My withdrawal rate until Social Security is about 7 percent, after which it should be about 3.5% with 30 years of expenses remaining. And of course lately that number has been looking better every day. Bumping this after searching "conservative." I love it. From an internet stranger. I hate all this talk around here trying to ignore SS. What's nice is that when SS actually does kick in, you can re-evaluate your finances from there. By then you should have a pretty good feel of your retirement spending. The 3.5% and the 40/60 is a bit on the conservative side, but I don't see it...
by EnjoyIt
Sun Mar 24, 2024 12:02 pm
Forum: Personal Consumer Issues
Topic: What Toys Have You Bought That Have Been Worth it?
Replies: 254
Views: 18321

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

OnTrack2020 wrote: Sat Mar 23, 2024 10:21 pm KitchenAid stand mixer. I do not know why we waited so long. One of the things I really like about it is that while it's mixing, I can walk away from it to prep another ingredient or put an ingredient away.
We recently got the pasta attachment to our kitchenaid mixer. Fresh pasta is so much better than anything at the store. Plus, the kids love helping and making their own pasta.
by EnjoyIt
Sun Mar 24, 2024 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Form 5500 traditional/Roth 401k filing.
Replies: 18
Views: 1562

Re: Form 5500 traditional/Roth 401k filing.

… As of Dec 31, 2023 the sum of my self-employed spouse's 401(k) and Roth 401(k) was $249,598.90. We can't tell if it crossed $250,000 at any point in 2023 since we only have quarterly statements. Based on the Dec 31, 2023 value does it mean we do not have to file 5500 by July 31, 2024? … Your self-employed spouse has a self-employed individual 401k plan, correct? See the IRS instructions to Form 5500-EZ section “who does not have to file Form 5500-EZ): https://www.irs.gov/pub/irs-pdf/i5500ez.pdf Only the 12/31/23 plan balance (= combined Traditional + Roth sub-accounts) matters for the annual filing threshold of $250k+. The 12/31/23 statement value of $249,599 is reduced by any 12/31/23 plan liabilities (which are not common for an i401k)...
by EnjoyIt
Sun Mar 24, 2024 11:50 am
Forum: Investing - Theory, News & General
Topic: just a general comment about "too conservative" investors here
Replies: 246
Views: 40576

Re: just a general comment about "too conservative" investors here

I am 40/60 with 15% of fixed income in cash. Retired one year. No pension, no social security for at least a few years. I wonder how conservative that is? My withdrawal rate until Social Security is about 7 percent, after which it should be about 3.5% with 30 years of expenses remaining. And of course lately that number has been looking better every day. Bumping this after searching "conservative." I love it. From an internet stranger. I hate all this talk around here trying to ignore SS. What's nice is that when SS actually does kick in, you can re-evaluate your finances from there. By then you should have a pretty good feel of your retirement spending. The 3.5% and the 40/60 is a bit on the conservative side, but I don't see it...
by EnjoyIt
Sun Mar 24, 2024 11:35 am
Forum: Personal Consumer Issues
Topic: When brand names matter and when they don't
Replies: 193
Views: 11782

Re: When brand names matter and when they don't

jebmke wrote: Sun Mar 24, 2024 10:57 am
EnjoyIt wrote: Sun Mar 24, 2024 10:52 am I try to avoid high fructose corn syrup as much as reasonably possible and willing to pay a bit more for that luxury.
same; very hard to digest for me. Also all the "ol" sugar/sugar alcohol molecules (sorbitol, mannitol, maltitol, and xylitol being common ones)
I digest it just fine.... I believe. I simply don't want to ingest this stuff.
by EnjoyIt
Sun Mar 24, 2024 11:14 am
Forum: Personal Consumer Issues
Topic: When brand names matter and when they don't
Replies: 193
Views: 11782

Re: When brand names matter and when they don't

Beensabu wrote: Sat Mar 23, 2024 8:05 pm
EnjoyIt wrote: Sat Mar 23, 2024 1:08 pm
Beensabu wrote: Sat Mar 23, 2024 1:06 pm
EnjoyIt wrote: Sat Mar 23, 2024 1:02 pm Over the last few years I have been turned onto Tillamook ice cream.
Tillamook is the best. THE BEST.
The best Jerry, the best.
Have you had the Tillamook Malted Moo Shake?

Nobody else has an equivalent.
I bet that would make a great root beer float. I also like Cherry Garcia from Ben and Jerries for a root beer float.
by EnjoyIt
Sun Mar 24, 2024 10:52 am
Forum: Personal Consumer Issues
Topic: When brand names matter and when they don't
Replies: 193
Views: 11782

Re: When brand names matter and when they don't

One tip, don't buy anything not labeled "Ice Cream". I only eat (infrequently) frozen Yogurt. Am I doing it wrong? Only it you think you are eating Ice Cream. :sharebeer So much in this thread is personal preference of course. OP mentioned Heinz Ketchup. We use Heinz Simply. We rarely use catchup but ever since switching to Simply (uses sugar and not corn syrup) Corn Syrup based kethcup just doesn't taste right. Maybe its all in my head. Some love Utz potato chips - others hate them. Some don't like any potato chips - they all taste nasty to some people. It's all a matter of taste as well as what you want to pay for. Not to get medical, but I tend to prefer ingredients in my food that don’t sound like they were created in a lab s...
by EnjoyIt
Sat Mar 23, 2024 1:08 pm
Forum: Personal Consumer Issues
Topic: When brand names matter and when they don't
Replies: 193
Views: 11782

Re: When brand names matter and when they don't

Beensabu wrote: Sat Mar 23, 2024 1:06 pm
EnjoyIt wrote: Sat Mar 23, 2024 1:02 pm Over the last few years I have been turned onto Tillamook ice cream.
Tillamook is the best. THE BEST.
The best Jerry, the best.
by EnjoyIt
Sat Mar 23, 2024 1:07 pm
Forum: Personal Consumer Issues
Topic: When brand names matter and when they don't
Replies: 193
Views: 11782

Re: When brand names matter and when they don't

Definitely disagree with a few Ketchup: Yes. There's Heinz and the rest. Hunts is passable in a pinch and the rest suck. Heinz is indeed better than Hunt's and the random store brands, but it's still a sickly-sweet mass of HFCS. For straightforward Ketchup, the best ones I've found are Sir Kensington's (sadly discontinued after the company was sold) and Organicville . But our favorites are Trader Joe's Black Summer Truffle , Melinda's Habanero , and Acid League's Savory Saffron . At least 2 of the 3 are in our fridge at any given moment. Mustard: No. It's more about what kind you're getting vs the brand name. Sort of. In general, I agree. I've had lots of great cheap and expensive mustards, and a fair number of not-so-good ones across the ...
by EnjoyIt
Sat Mar 23, 2024 1:02 pm
Forum: Personal Consumer Issues
Topic: When brand names matter and when they don't
Replies: 193
Views: 11782

Re: When brand names matter and when they don't

This is a fun topic, but I must disagree with some of your findings: TP - Kirkland is thin, uneconomical stuff. Because of this, you must use more, so it costs no less than Charmin, which I prefer. I never buy any other brand so I don't know about them. Nuts - I have bought a few store brands of nuts, and they can taste stale, musty, or just lack flavor. I never find this is the case with Planters or Fisher nuts. Chips - Again, the flavor is not as full as name brands, like Jay's, Lay's, etc. EXCEPT for Trader Joe's Classic (or whatever they call them). To me, they taste just like Lay's. Pork tenderloin - Fresh from the Meat dept is always better to me. The packaged loins from Smithfield and the like are injected with a salt solution for f...
by EnjoyIt
Fri Mar 22, 2024 12:39 pm
Forum: Personal Consumer Issues
Topic: What Toys Have You Bought That Have Been Worth it?
Replies: 254
Views: 18321

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

5.1 Dolby Digital/Atmos surround sound. ? Wouldn’t it be 5.1.2 ata minimum? Currently working on the Atmos part. For years after Atmos was announced, I was a sceptic; “who needs stinking height speakers?” Having installed a (7.2.6) Atmos system, it really makes a difference. To be honest, declining benefit comes from going from 5 to 7 ear height speakers, and I’m not sure that 2 to 4 or 6 height speakers carried the full weight, but having at least 2 height speakers made a big difference. I’m not a big time bass nut, but having the second sub smoothed out the room response. Enjoy your audio journey :beer I too am amazed at how a second sub cleans up the bass. To my understanding it eliminates "standing waves" making it cleaner. N...
by EnjoyIt
Fri Mar 22, 2024 6:30 am
Forum: Personal Finance (Not Investing)
Topic: need to amend w2/w3 question.
Replies: 3
Views: 336

Re: need to amend w2/w3 question.

For my spouses corporation taxes as an S-Corp, we need to amend the W2. Long tory short, we had to remove some of her solo401k contributions and therefore the W2/W3 needs to be amended to reflect those changes. From the way I understand it, we don't need to redo the 1120s because nothing changes there. Just need to submit a W3c. Am I missing something? -EI Assuming it's just the employee deferral I don't think 1120S will change, I don't think 941/940 will either (double check), but consider any state filings. Luckily no state tax. Wow, totally forgot 941/940. Since it’s elective deferral, SS and Medicare don’t change. The only thing that gets affected is the federal tax. I just looked at 940/941 and it doesn’t get affected. Thanks for the ...
by EnjoyIt
Thu Mar 21, 2024 8:25 pm
Forum: Forum Issues and Administration
Topic: Rule Against Disparaging a Post or Question?
Replies: 68
Views: 6426

Re: Rule Against Disparaging a Post or Question?

I have no idea what ELIF is. I googled it and I guess it is a coding term for “else if.” I then assume it has to be an If statement such as If “A” do “X.” If not “A” do Y. Not sure how it pertains to this discussion so I now assume my understanding of ELIF is wrong.

Edit: Oh wait. It means Explain Like I’m Five.

IMO (In my opinion) we need a rule that if someone uses an acronym for the first time they should give its definition.
by EnjoyIt
Thu Mar 21, 2024 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: need to amend w2/w3 question.
Replies: 3
Views: 336

need to amend w2/w3 question.

For my spouses corporation taxes as an S-Corp, we need to amend the W2. Long tory short, we had to remove some of her solo401k contributions and therefore the W2/W3 needs to be amended to reflect those changes.

From the way I understand it, we don't need to redo the 1120s because nothing changes there. Just need to submit a W3c. Am I missing something?

-EI
by EnjoyIt
Wed Mar 20, 2024 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Divorce and co mingling asset question
Replies: 49
Views: 6982

Re: Divorce and co mingling asset question

Tamalak wrote: Tue Feb 27, 2024 1:11 pm
popoki wrote: Tue Feb 27, 2024 11:32 am There was another recent post here where some people kept insisting that the OP should commingle their inheritance because it's easier to manage, because the marriage was long and stable, etc...

Wrong answer.

viewtopic.php?p=7733128#p7733128
Yep. When the question is "should I take precautions?" the answer is "of course not".

When the question is "I'm divorcing, am I screwed?" the answer is "you should have taken precautions".

Not just this board. Everywhere. Every time.
Usually those threads about precautions get relatively heated and eventually get closed.
by EnjoyIt
Wed Mar 20, 2024 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Can I retire in 5 years?
Replies: 23
Views: 2592

Re: Can I retire in 5 years?

If I am reading this correctly, you spend $30k/yr on your mortgage. Eventually that will be paid off and your expenses will be down to $50k/yr. The way I see it, you have $1.5 million with a $250k mortgage. If you pay that mortgage off today you would have $1.25 million which would provide $50k/yr at a 4% withdrawal rate.

Sounds to me like if you want, you can pull the trigger today. That is if your expenses stay at $50k/yr. As others posted, 2 kids getting older will increase your expenses substantially. That is until they launch. In 5 years you will golden.
by EnjoyIt
Wed Mar 20, 2024 12:42 pm
Forum: Forum Issues and Administration
Topic: Rule Against Disparaging a Post or Question?
Replies: 68
Views: 6426

Re: Rule Against Disparaging a Post or Question?

Have to agree with OP. I've come across far too many comments that are just simply rude and not necessary. Belittling someone because they might have more saved than the average person is just wrong. If you read a post, you don't agree with what is being asked, can't keep yourself from criticizing someone's personal situation, just don't reply. What is gained by embarrassing someone? If you don't have something nice to say, don't say anything at all. There was a time when I found a lot of replies that basically said “first world problem (FWP), get over it” which I didn’t find useful. That was around the time that I restricted how much personal financial information I would share on the forum. For whatever it’s worth, I find that snarky FWP...
by EnjoyIt
Tue Mar 19, 2024 6:18 pm
Forum: Forum Issues and Administration
Topic: Rule Against Disparaging a Post or Question?
Replies: 68
Views: 6426

Re: Rule Against Disparaging a Post or Question?

... there are some long time posters who provide answers that are not in keeping with the strategy we (generally) stand for, and I see value in making sure those called out. I like and appreciate a diversity of views. With the exception of views that the site owners have prohibited (positive views of "greater fools" investments), I think all perspectives should be welcome on the forum. Plenty of Bogleheads will (politely, I hope) point out that such views deviate from the common wisdom. The problem with the coin that shall not be named is that we would have new posters come in and evangelize for it. There would be strong arguments and it would cause distress to the community. Ad hominem attacks would ensue and our moderators had ...
by EnjoyIt
Tue Mar 19, 2024 4:55 pm
Forum: Forum Issues and Administration
Topic: Rule Against Disparaging a Post or Question?
Replies: 68
Views: 6426

Re: Rule Against Disparaging a Post or Question?

Compared to many other forums, Boglehead posters generally have good etiquette and very helpful on just about any subject. Sure, plenty of people like to argue about certain nuances but without them, there would be very little discussion here. The few that post "asked and answered" get overshadowed by the responses above and below it.
by EnjoyIt
Mon Mar 18, 2024 4:27 pm
Forum: Personal Investments
Topic: Can I retire with $1.75M at age 43?
Replies: 169
Views: 12556

Re: Can I retire with $1.75M at age 43?

Not if you have a bad sequence of return at the start. Again, this is just a pop-understanding of SWR research leading to misapplication. His social security benefit is likely very small with only ~20 years of earnings and it doesn't even sound like he's been earning all that much over that time. This is a disingenuous 'argument' that is ignoring what folks in this thread at least are saying. I don't see anyone suggesting the withdrawal rate is the problem. This forum is full of people retire early with withdrawal rates higher than 2% - very few of them I would suspect are doing so on an very lean spending, and that population may not be a good fit for this forum - there are others on the internet that are more suited to that lifestyle cho...
by EnjoyIt
Mon Mar 18, 2024 2:21 pm
Forum: Personal Investments
Topic: Can I retire with $1.75M at age 43?
Replies: 169
Views: 12556

Re: Can I retire with $1.75M at age 43?

WhiteMaxima wrote: Mon Mar 18, 2024 1:04 pm Health related cost will dry out 1.75M very easily.
How do you figure?

How do people with little money get healthcare in this country?
by EnjoyIt
Mon Mar 18, 2024 2:18 pm
Forum: Personal Investments
Topic: Can I retire with $1.75M at age 43?
Replies: 169
Views: 12556

Re: Can I retire with $1.75M at age 43?

No, it isn't really similar to that at all because the person currently spending $120k a year has a lot more room to lean out if the plan heads south than someone already living off of a very small level of expense. That's really the point all those people are making - he has little room for error on the downside when choosing a 40-60 year retirement at minimal expenses (relying on things like continued ACA subsidies at that). And basically it is a great example of how the pop understanding of the SWR research can be dangerous to people who really don't appreciate its limitations. Looking at withdrawal rate alone would be malpractice for anyone with a fiduciary responsibility - for an individual who is in their early 40s, well it isn't mal...
by EnjoyIt
Mon Mar 18, 2024 11:39 am
Forum: Personal Investments
Topic: Can I retire with $1.75M at age 43?
Replies: 169
Views: 12556

Re: Can I retire with $1.75M at age 43?

The short answer is yes, if your expenses are currently in the 3K per month range and stay that way adjusted for inflation, then 1.75MM liquid assets will work just fine. This is standard FIRE/leanFIRE. To those saying no, I'd point out this is similar to someone with 5MM liquid and 10K per month expenses- which everyone would say 'go ahead and retire' all day long. No, it isn't really similar to that at all because the person currently spending $120k a year has a lot more room to lean out if the plan heads south than someone already living off of a very small level of expense. That's really the point all those people are making - he has little room for error on the downside when choosing a 40-60 year retirement at minimal expenses (relyin...
by EnjoyIt
Mon Mar 18, 2024 11:13 am
Forum: Personal Investments
Topic: Can I retire with $1.75M at age 43?
Replies: 169
Views: 12556

Re: Can I retire with $1.75M at age 43?

The short answer is yes, if your expenses are currently in the 3K per month range and stay that way adjusted for inflation, then 1.75MM liquid assets will work just fine. This is standard FIRE/leanFIRE. To those saying no, I'd point out this is similar to someone with 5MM liquid and 10K per month expenses- which everyone would say 'go ahead and retire' all day long. No, it isn't really similar to that at all because the person currently spending $120k a year has a lot more room to lean out if the plan heads south than someone already living off of a very small level of expense. That's really the point all those people are making - he has little room for error on the downside when choosing a 40-60 year retirement at minimal expenses (relyin...
by EnjoyIt
Mon Mar 18, 2024 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Parents building a new house - how should they pay for it?
Replies: 62
Views: 5093

Re: Parents building a new house - how should they pay for it?

This is one of those don't ask don't tell scenarios. Just because they don't like it doesn't mean you can't or shouldn't do it. And if the lender does ask ... ? Second home which is true. And if the lender's home equity line application asks if the home in question is "for sale" or "intended to be sold shortly"? With all respect, I don't get why you think it's good to lie to a lender - especially the OP's parents who are older and (he's says) not in great shape. So they lie and then somehow one of them is speaking with the lender and innocently says, "Yes, we are moving to Indiana to be closer to my son." It's not like the lender will throw them in Bank Jail but why lie at all? Get a mortgage on the new house....
by EnjoyIt
Mon Mar 18, 2024 9:34 am
Forum: Personal Investments
Topic: Can I retire with $1.75M at age 43?
Replies: 169
Views: 12556

Re: Can I retire with $1.75M at age 43?

mikejuss wrote: Mon Mar 18, 2024 7:41 am
smartinvestor2020 wrote: Mon Mar 18, 2024 7:36 am There isn’t a job out there that I would enjoy. I hate working for others. I wouldn’t start a business either.
Invest in some therapy, OP. Work gives life meaning.
Work does not give life meaning. It can and for plenty of people it does, but there is more to life than just work.

My family, my friends, and my hobbies give my life meaning far more than my job.

People who believe life is all about work are the same ones who hate retirement and get depressed. I will repeat, there is more to life than work.
by EnjoyIt
Mon Mar 18, 2024 9:19 am
Forum: Personal Finance (Not Investing)
Topic: Parents building a new house - how should they pay for it?
Replies: 62
Views: 5093

Re: Parents building a new house - how should they pay for it?

PeninsulaPerson wrote: Mon Mar 18, 2024 1:11 am
EnjoyIt wrote: Sun Mar 17, 2024 4:27 pm
This is one of those don't ask don't tell scenarios. Just because they don't like it doesn't mean you can't or shouldn't do it.

And if the lender does ask ... ?


Second home which is true.
by EnjoyIt
Sun Mar 17, 2024 7:48 pm
Forum: Personal Investments
Topic: Can I retire with $1.75M at age 43?
Replies: 169
Views: 12556

Re: Can I retire with $1.75M at age 43?

This is a general question. I dislike and almost hate my job and was wondering if I could retire today at age 43 with about $1.75M net worth. I am very frugal and have spent about $25k per year for more than a decade. Only recently has my cost gone up to $35k. I intend to move to a cheap location to keep cost down. I’ve read about a number of FIRE movement retirees like Mr money mustache and others who were able to retire very early. Of course these bloggers are not really retired making a lot of money, but I intend to TRULY retire for many decades. Is this realistic as a frugal single person? I would like some thoughts from bogleheads. Another point is that my time is limited on this planet and I value freedom and time doing what I want o...
by EnjoyIt
Sun Mar 17, 2024 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Parents building a new house - how should they pay for it?
Replies: 62
Views: 5093

Re: Parents building a new house - how should they pay for it?

WillRetire wrote: Sun Mar 17, 2024 9:02 am OP: They have strong income, so why not have them apply for a mortgage? With equal opportunity lending, their age should not be a factor.
This is probably the best solution. They have a CD they can cash for the downpayment. Then take on a mortgage for the rest. I'm sure they can get a $400k mortgage on a $120k/yr guaranteed SS and pension income. Once the old house sells, pay the mortgage down and consider recasting. Since they have a surplus on their income plus the RMDs, they can get that mortgage paid off in the next couple of years. They can also sell off some Roth IRA to pay it off.

Again, the cost of breaking the CD isn't that big of a deal compared to other alternatives.
by EnjoyIt
Sun Mar 17, 2024 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Parents building a new house - how should they pay for it?
Replies: 62
Views: 5093

Re: Parents building a new house - how should they pay for it?

PeninsulaPerson wrote: Sun Mar 17, 2024 3:50 pm
Sowney wrote: Sun Mar 17, 2024 12:09 pm
My brother and his wife are the motive force behind this move, so they're all in. And - yes - in my view, family dynamics might be the most important factor.


That's good - very good.

As to a HELOC on a house that would be sold shortly, do be sure to check with your lender. For obvious reasons, that situation does not float a lot of lenders' boats.

Good luck to your folks. Hope it's an amazing blessing for them and your family!
This is one of those don't ask don't tell scenarios. Just because they don't like it doesn't mean you can't or shouldn't do it.
by EnjoyIt
Sun Mar 17, 2024 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: Parents building a new house - how should they pay for it?
Replies: 62
Views: 5093

Re: Parents building a new house - how should they pay for it?

They have $1.1 Million in Roth and traditional IRA They need $500k. They get $120k from SS and Pensions They spend $60k Their home is worth $300k I don't know how much they have in Roth and traditional IRA, but it makes a difference to the calculations. They should be able to take a a HELOC for about $240k. Leaving them with $260k in costs. The house takes time to be built and they will likely need to put in installments. That will give them time to collect some cash from SS and pensions. Maybe by then they will get another $30k. That leaves them with $230k still needed. They have a $100k CD which they can hopefully break leaving them needing $130k. Next, They can pull cash from their Traditional IRAs. You will need to look at their tax st...
by EnjoyIt
Sun Mar 17, 2024 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Parents building a new house - how should they pay for it?
Replies: 62
Views: 5093

Re: Parents building a new house - how should they pay for it?

They have $1.1 Million in Roth and traditional IRA They need $500k. They get $120k from SS and Pensions They spend $60k Their home is worth $300k I don't know how much they have in Roth and traditional IRA, but it makes a difference to the calculations. They should be able to take a a HELOC for about $240k. Leaving them with $260k in costs. The house takes time to be built and they will likely need to put in installments. That will give them time to collect some cash from SS and pensions. Maybe by then they will get another $30k. That leaves them with $230k still needed. They have a $100k CD which they can hopefully break leaving them needing $130k. Next, They can pull cash from their Traditional IRAs. You will need to look at their tax str...
by EnjoyIt
Sat Mar 16, 2024 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Safe deposit box-have one? What's in there?
Replies: 115
Views: 10832

Re: Safe deposit box-have one? What's in there?

While it might s a myth that it is illegal to store cash inSDB it is not that you are not allowed to store firearms there. At least not allowed in any bank I ever used. Plus I would hate to card a firearm rearm into a bank. I carry a firearm into the bank all the time. What’s the concern? Plenty of people carry a firearm when they take out a decent amount of cash. I realize many do but short of being police officer or similar I would be concerned some one sees it and overeacts inappropriately I think what you and I are experiencing is different cultural norms. When I lived in NYC I would have thought just like you. It is very difficult to get a firearm in NYC and therefore one can spend their entire life and never see one outside of a hols...
by EnjoyIt
Fri Mar 15, 2024 9:08 pm
Forum: Investing - Theory, News & General
Topic: Should I Keep Sacrificing or Start Enjoying Myself
Replies: 32
Views: 3769

Re: Should I Keep Sacrificing or Start Enjoying Myself

My advice: Increase spending this year from 30% up to 35%. Let’s see how it feels. Maybe next year go from 35% to 40%. See how that feels.

The reason why I like slow lifestyle creep is that you slowly get to enjoy your wealth more and more. If you jump straight to spending 70%, sure you will get a rush from it, but in a year or two you will get used to it with nowhere to go.

My second piece of advice is to not sacrifice relationships. The joys of life are in interactions with friends and family (if you like your family.)
by EnjoyIt
Fri Mar 15, 2024 5:48 pm
Forum: Investing - Theory, News & General
Topic: 5M, probably enough to retire to a frugal lifestyle
Replies: 180
Views: 15734

Re: 5M, probably enough to retire to a frugal lifestyle

unwitting_gulag wrote: Having been a California renter for a while, I'd aver that this particular application of the "greater fool theory" is actually solid and stable. It's easy to dip into frustration with overcrowding and associated local ills, but we have the example of the defense industry bust 30 years ago, to gauge what happened with real estate prices long term. Answer: they dipped, and by some reckoning crashed... but a decade later, they recovered, and then some. I agree that the greater fool theory will still work in coastal California real estate but not to the egregious extent it did in the past. I bought a small 1 BR condo with access to a pool in Mountain View right on the border with Palo Alto in 1973. It cost 36K...
by EnjoyIt
Fri Mar 15, 2024 5:37 pm
Forum: Investing - Theory, News & General
Topic: 5M, probably enough to retire to a frugal lifestyle
Replies: 180
Views: 15734

Re: 5M, probably enough to retire to a frugal lifestyle

I assume it ends with more housing being built, which lowering inflation-adjusted housing prices in areas with high demand. There's been some legislative and executive action to force California cities/counties to allow more housing to be built. California has dropped in population in recent years, and some other US states/areas with net domestic migration have built a lot of housing and managed to keep prices from skyrocketing. Where I am renting, it is still relatively costly, but rent is lower than a few years or even a decade ago. Considering inflation, rents are 10-20% lower. I assume it's because a lot of housing has been built in the immediate area. I think an added solution is to stop allowing foreign nationals to own property in t...
by EnjoyIt
Fri Mar 15, 2024 4:27 pm
Forum: Investing - Theory, News & General
Topic: 5M, probably enough to retire to a frugal lifestyle
Replies: 180
Views: 15734

Re: 5M, probably enough to retire to a frugal lifestyle

Being tracking expenses for 17 years so this fairly accurate for my family. Here's the annual expense: - Phone/internet $4k (including phone/router purchase) - Car $6k (License fee and sunk fund for future car purchase) - Kid's activities $11k (swimming/soccer and other kid's activities) - Clothing $1k - Entertainment $3k - Gas $5k - General merchandise/grocery $14k (we buy much of our grocery from costco so hard to separate out :oops: ) - Home maintenance/improvement $15k (including sunk fund for roof repair/paints and etc) - Insurance $10k (home owner got quite a bit more expensive due to the house in wildland zone) - Personal care $3k - Restaurants/take out $12k - Travel $10k - Utilities $4k - Property tax $16k - Healthcare premium/co-p...
by EnjoyIt
Fri Mar 15, 2024 4:24 pm
Forum: Investing - Theory, News & General
Topic: 5M, probably enough to retire to a frugal lifestyle
Replies: 180
Views: 15734

Re: 5M, probably enough to retire to a frugal lifestyle

This strikes me as true and fascinating. Of course it's not just coastal California; it seems to be true of many cities around the world now. I wonder how this ends, and if anything like this has happened before in history. I suppose that if property wealth just passes down to subsequent generations, maybe it doesn't end? Among the coastal California natives that I've met so far, inheriting their parents' property seems to be a key part of the plan. I assume it ends with more housing being built, which lowering inflation-adjusted housing prices in areas with high demand. There's been some legislative and executive action to force California cities/counties to allow more housing to be built. California has dropped in population in recent ye...
by EnjoyIt
Fri Mar 15, 2024 4:21 pm
Forum: Investing - Theory, News & General
Topic: 5M, probably enough to retire to a frugal lifestyle
Replies: 180
Views: 15734

Re: 5M, probably enough to retire to a frugal lifestyle

You may be underestimating just how expensive coastal California is. One will definitely need a strict budget to raise a family on $150-170k pre-tax there. Agree with this, including health care insurance premium estimated from covered CA and removing mortgage, we'll need ~$150k pre-tax here in bay area. While we don't live frugally, we're not extravagant neither. - House bought more than 10 years ago so low property tax basis - All yard work and house work is done by ourselves w/o any outsourcing - Most oil changes, auto maintenance and minor repairs were done by me - No expensive after school care for the kid since we have a SAHM - DW cooks most meals so we only dine out 1-2 time every week - Only economy class on travels Minimum wage fo...
by EnjoyIt
Fri Mar 15, 2024 1:34 pm
Forum: Investing - Theory, News & General
Topic: 5M, probably enough to retire to a frugal lifestyle
Replies: 180
Views: 15734

Re: 5M, probably enough to retire to a frugal lifestyle

You may be underestimating just how expensive coastal California is. One will definitely need a strict budget to raise a family on $150-170k pre-tax there. Agree with this, including health care insurance premium estimated from covered CA and removing mortgage, we'll need ~$150k pre-tax here in bay area. While we don't live frugally, we're not extravagant neither. - House bought more than 10 years ago so low property tax basis - All yard work and house work is done by ourselves w/o any outsourcing - Most oil changes, auto maintenance and minor repairs were done by me - No expensive after school care for the kid since we have a SAHM - DW cooks most meals so we only dine out 1-2 time every week - Only economy class on travels Minimum wage fo...
by EnjoyIt
Fri Mar 15, 2024 1:29 pm
Forum: Investing - Theory, News & General
Topic: 5M, probably enough to retire to a frugal lifestyle
Replies: 180
Views: 15734

Re: 5M, probably enough to retire to a frugal lifestyle

This strikes me as true and fascinating. Of course it's not just coastal California; it seems to be true of many cities around the world now. I wonder how this ends, and if anything like this has happened before in history. I suppose that if property wealth just passes down to subsequent generations, maybe it doesn't end? Among the coastal California natives that I've met so far, inheriting their parents' property seems to be a key part of the plan. I assume it ends with more housing being built, which lowering inflation-adjusted housing prices in areas with high demand. There's been some legislative and executive action to force California cities/counties to allow more housing to be built. California has dropped in population in recent ye...