Search found 405 matches

by The Old Man
Wed Jan 08, 2020 9:47 am
Forum: Money Questions
Topic: Cash or card?
Replies: 32
Views: 1385

Re: Cash or card?

Mainly credit cards. Never debit cards. Debit cards are only for use at a trusted ATM. Cash is a back-up for power failures, compromised cards, merchant doesn't take cards, or very small transactions. Checks for those merchants and people that don't take cards and cash is not convenient. Credit card...
by The Old Man
Tue Dec 24, 2019 4:39 pm
Forum: Money Questions
Topic: Benefits for Homebound 65+ US War Veteran?
Replies: 4
Views: 289

Re: Benefits for Homebound 65+ US War Veteran?

Everything that Riggerjack said. Area Agency on Aging (goes by various names): Go there in person, speak to a representative, and pick up any pamphlets they have. The available support is generally limited to low income people. Support available to moderate income people generally comes at a cost, p...
by The Old Man
Wed Dec 18, 2019 11:33 am
Forum: Money Questions
Topic: The Secure Act
Replies: 16
Views: 882

Re: The Secure Act

https://www.forbes.com/sites/jlange/2019/06/11/the-hidden-money-grab-in-the-secure-act/#71c76e6b3bbd Thanks for the notice. The SECURE Act is a money grab and I suspect is highly likely to pass. It should be noted that for ERE types it may have limited impact. ERE people can easily implement ROTH c...
by The Old Man
Sun Dec 08, 2019 9:20 am
Forum: Miscellaneous
Topic: Playing with fire docu
Replies: 12
Views: 1884

Re: Playing with fire docu

Fish wrote:
Thu Apr 18, 2019 5:28 am
... they started with an after-tax income of $142,000 and expenses of $120k with a spending goal of $50-60k for their family of 3.
So, FIRE for the upper middle class.

Its not very relatable to those with a median or less income which is 50% of the population.
by The Old Man
Fri Dec 06, 2019 8:06 pm
Forum: Money Questions
Topic: Expat income, banking, and flag theory
Replies: 57
Views: 8511

Re: Expat income, banking, and flag theory

jacob wrote:
Fri Dec 06, 2019 10:25 am
I don't understand the question.
I was wondering why you need/want a local bank. Modern day banking inclusive of the FinTech firms seems to make a local bank no longer necessary - perhaps desirable, but not necessary.
by The Old Man
Fri Dec 06, 2019 10:02 am
Forum: Money Questions
Topic: Expat income, banking, and flag theory
Replies: 57
Views: 8511

Re: Expat income, banking, and flag theory

jacob wrote:
Fri Dec 06, 2019 8:51 am
...
Yes, but why do you need a local bank? Aside from using the ATM machine I have been inside a bank exactly once in 20+ years.
by The Old Man
Wed Dec 04, 2019 8:09 pm
Forum: Money Questions
Topic: Expat income, banking, and flag theory
Replies: 57
Views: 8511

Re: Expat income, banking, and flag theory

For flag theory, I'd rather go with a reputable international bank. Unfortunately, Denmark is too small for bigger international banks to do business directly (e.g. branch offices). For what purpose do you need a reputable international bank? For ATM purposes I use Charles Schwab plus Fidelity. For...
by The Old Man
Thu Oct 31, 2019 8:57 am
Forum: Money Questions
Topic: You need way less than the 4% rule
Replies: 16
Views: 1779

Re: You need way less than the 4% rule

Standard FIRE belief is the 4% rule is simple and safe … I think this is way, way too conservative for a number reasons. The 4% Rule is an analysis and not a plan. People need to develop their own unique plan that takes into consideration their own personal circumstances. The 4% Rule just pertains ...
by The Old Man
Sun Oct 06, 2019 1:26 pm
Forum: Politics, and other eternal disagreements
Topic: China/Ukraine request
Replies: 28
Views: 2947

Re: China/Ukraine request

But it set a precedent and every President since Wilson has in some ways worked beyond the prescribed scope of the Constitutionally defined terms of what the Presidency allows, specifically within the context of the separation of powers. You are forgetting about Abraham Lincoln. To Lincoln nothing ...
by The Old Man
Sat Oct 05, 2019 12:00 pm
Forum: Health Questions
Topic: Warning: WH seeks to limit/deport immigrants using ACA and other gov. services
Replies: 217
Views: 30701

Re: Warning: WH seeks to limit/deport immigrants using ACA and other gov. services

https://www.theguardian.com/us-news/2019/oct/05/us-immigrants-will-be-denied-entry-if-they-cant-afford-health-care "Medicaid for the poor doesn’t apply and an immigrant will not be able to obtain a visa if using the Affordable Care Act’s subsidies when buying insurance." Things are tightening. This...
by The Old Man
Sat Oct 05, 2019 11:57 am
Forum: Health Questions
Topic: Warning: WH seeks to limit/deport immigrants using ACA and other gov. services
Replies: 217
Views: 30701

Re: Warning: WH seeks to limit/deport immigrants using ACA and other gov. services

Why does it make sense to build a wall to keep out people who want to get ahead in the world? Has our national level of self-esteem sunk that low? If getting ahead benefits the USA, then they could apply for an immigrant VISA and bypass the wall. If getting ahead doesn't benefit the USA, then the w...
by The Old Man
Thu Oct 03, 2019 9:10 pm
Forum: Resources & Recommended Reading
Topic: Guest post on GRS: A ten year update
Replies: 42
Views: 5165

Re: Guest post on GRS: A ten year update

...I literally have no idea/skill in terms of what to spend the excess money on...my personal limit is not money but skills and imagination and to some degree connections. Well, the obvious solution is philanthropy. You could also go the way of George Soros and start meddling using your stash for l...
by The Old Man
Wed Sep 25, 2019 5:27 pm
Forum: Money Questions
Topic: The 4% Rule – A Castle in the Air
Replies: 118
Views: 12439

Re: The 4% Rule – A Castle in the Air

I think you are overstating the matter a bit. I am not. The 4% Rule was back-tested upon the 4% Rule Portfolio. The 4% Rule Portfolio is composed of stocks and bonds. This portfolio was selected because these are “investable assets” so much beloved of the investment industry. It is not intended to ...
by The Old Man
Wed Sep 25, 2019 3:21 pm
Forum: Money Questions
Topic: The 4% Rule – A Castle in the Air
Replies: 118
Views: 12439

Re: The 4% Rule – A Castle in the Air

Interestingly, initially, ERE was 'save extremely (75%+) for 5 years', while current consensus appears to be '3% or better 2.5% SWR'... meaning 11 or 13.3 years at 75% SR... am I the only one this sounds rather unappealing to? Are people industrious enough to retire very early also not smart enough...
by The Old Man
Fri Sep 20, 2019 10:50 am
Forum: Money Questions
Topic: The 4% Rule – A Castle in the Air
Replies: 118
Views: 12439

Re: The 4% Rule – A Castle in the Air

To me a conservative figure is 95% chance of being successful. So I'm pretty cool with the 4% rule. Why is the 4% Rule conservative? The 5% failures were not random but were driven by the inflationary conditions of the 1960s-70s. The inflation was inadvertently created by the government in its atte...
by The Old Man
Thu Sep 19, 2019 11:42 pm
Forum: Money Questions
Topic: The 4% Rule – A Castle in the Air
Replies: 118
Views: 12439

Re: The 4% Rule – A Castle in the Air

1. You are probably wrong in your initial premise related to economic growth. We have had slow growth for nearly 20 years. Why should it improve? It is driven by demographics which has high predictive value. Granted, technological progress could accelerate and the third world could improve its livi...
by The Old Man
Thu Sep 19, 2019 3:59 pm
Forum: Money Questions
Topic: The 4% Rule – A Castle in the Air
Replies: 118
Views: 12439

Re: The 4% Rule – A Castle in the Air

I really appreciate the depth of your post and thoughtfulness of your argument. The thing is, I think it's built on a false assumption. Not all data supports the 4% and 3% figures. In fact, I would argue those numbers are based on an extremely myopic definition of investing steeped in data availabi...
by The Old Man
Thu Sep 19, 2019 12:50 pm
Forum: Money Questions
Topic: The 4% Rule – A Castle in the Air
Replies: 118
Views: 12439

Re: The 4% Rule – A Castle in the Air

I'm maybe missing something very obvious here, but why can't an asset yield 4% unless it experiences a 3% top line growth? Remember that “The 4% Rule” uses a total return approach to develop a safe withdrawal rate. Namely, that the withdrawals are dividends, interest, and capital gains. Dividends a...
by The Old Man
Wed Sep 18, 2019 11:54 pm
Forum: Money Questions
Topic: Why Index Funds Are Like Subprime CDOs
Replies: 121
Views: 13950

Re: Why Index Funds Are Like Subprime CDOs

1. Inflation - equities mitigate against this problem. Equities do not mitigate inflation. If they did, then they would have performed far better in the 1960s-70s then they actually did. Personally, I think that real estate with a fixed rate mortgage would do great in an inflationary environment. 2...
by The Old Man
Tue Sep 17, 2019 10:15 am
Forum: Money Questions
Topic: The 4% Rule – A Castle in the Air
Replies: 118
Views: 12439

The 4% Rule – A Castle in the Air

TL/DR: The 4% Rule has a high likelihood of failure due to demographics and the limitations of monetary and fiscal policy. Labor productivity improvements are a wildcard. Summary: The 4% Rule implicitly assumes a 3% long term growth rate. Due to demographics this assumption will not hold. Fiscal and...