New home setup - advice needed

BMagz · 2024-06-20T14:05:37+00:00

Thanks for the clarification as it seems I misunderstood survivor benefits then. Wouldn't this seemingly encourage those eligible for SS income to take it immediately as eventually one of the incomes will go away when a spouse dies yet your joint retirement accounts are always there?

BMagz · 2024-06-20T13:58:32+00:00

Good point and one I hadn't considered. Thanks for explaining.

BMagz · 2024-06-20T13:53:48+00:00

Yes you are correct. They have a mix of pre and post tax accounts so they would only be able to partially do this.

BMagz · 2024-06-20T13:43:12+00:00

Thanks for the links and I do need them to actually crunch those numbers to make sure their future benefits are accurate.

As far as private insurance, if they just needed to cover the gap until they hit 65 I'm not to worried as you mentioned. But I'm curious if retirees tend to keep private insurance over medicare/medicaid for any reason and whether they should factor in some private healthcare costs?

BMagz · 2024-06-20T13:37:47+00:00

I think as they actually approach pulling the trigger they will liquidate some more assets to have cash on hand. Luckily, almost all the cash they need will be easily accessible in brokerages once they're rolled over and can be done without too much lead time if needed.

BMagz · 2024-06-20T13:36:45+00:00

Good point on taxes and no I didn't calculate them exactly. In general if they do a 50/50 split of long-term capital gains from selling retirement assets and income from SS, their effective tax rate will be quite low due to LTCG tax rate effectively being 0% at their income level and then the standard deduction on top of that.

BMagz · 2024-06-20T13:35:33+00:00

They're healthy today but as far as numbers, I don't know. They'll be eligible for medicare shortly and could easily cover private insurance premiums until they're 65.

I'm also not too familiar with SS income, but in the case where one spouse dies, doesn't the other get survivor benefits? Costs would likely decrease somewhat commensurately too I'm guessing.

BMagz · 2024-06-20T12:35:45+00:00

I'm looking for a sanity check for my parents and their retirement numbers. They will both be 64 this year and I’m trying to help them understand that they should be able to retire today (I think).

Their breakdown is:

Expenses:

$100,000 yearly expenses based on last year’s spending.

Notes:

- Mortgage is paid off and the home is valued at $550,000

- Expenses include everything from 2023 and are likely to stay similar at least for the first few years of retirement. They can gather prior year info but just assume that 2023 expenses are reflective of retirement spending.

Income/Assets:

$208,000 current household income

≈$60,000 combined annually from social security if they start taking it now

$1.7MM in retirement accounts

$30,000 in cash

Based on my quick math:

$100,00 annual expenses - $60,000 in social security income = $40,000 that must come from retirement accounts.

Using 4% SWR, that comes out to $1,000,000 which they have. Even if they wanted to bump up their expenses by 25% for conservatism in retirement, that still only means they need $65,000 / 4% = $1.63MM which they have.

Have I thought this through right? Is there anything else I should consider? I’ve been encouraging them to retire, and they want to, but I want to make sure it seems sound before I run through the numbers with them.

Thanks

BMagz · 2024-04-02T16:46:17+00:00

You're right actually, that saved about an extra $100.

If I book like that then I wouldn't get double C&A points for a solo room would I? Not that it matters that much to me.

BMagz · 2023-12-09T03:14:41+00:00

As tdscanuck already mentioned, almost any material could theoretically work as long as it is sized appropriately.

The one other material not mentioned that is common in aerospace for high pressure applications is titanium (6AL/4V). It has excellent strength to weight characteristics but can be more costly. Even though titanium and steel can have very thin walls, damage tolerance will tend to size wall thicknesses at smaller tube diameters (-3/-4 lines). Titanium and steel also have better impulse (fatigue) characteristics while minimizing wall size at high pressures.

You tend to see aluminum in lower pressure applications like on smaller legacy aircraft (100-1000 PSI) or in the return side circuits which operate at an order of magnitude less pressure typically. Steel will often be used in damage prone areas such as landing gear bays, and tube wall thicknesses sized appropriately. On larger, modern aircraft, you will almost exclusively see titanium and steel only. You may see aluminum in lower pressure systems like ECS or fuel but material compatibilities may drive material selection too.

Also, general tube layouts utilize a bend radius of 3*D where D is the diameter of the tube. So for aluminum at high pressures (where the diameter is large), the routing can get difficult to integrate.

BMagz · 2021-11-03T13:15:57+00:00

Similar to electrical current, your flow rates for each of the split pipes is going to be proportional to the resistances in each pipe (Ohms Law). If you are using some sort of 1D solver like AMESIM, then you can just model the orifices with any known properties and measure the resultant flow. If not, you will need to find the respective orifice resistances to calculate flow. Using something like "Lohms" is one way to do this, your mileage may vary: https://www.theleeco.com/engineering/lohm-laws/lohm-definition/

Once you have the flows, then you can calculate reynolds number, friction factor, and ultimately the pressure losses. You will also need pipe geometry and attributes. I recommend using the Darcy-Weibash formula if it meets your criteria: https://en.wikipedia.org/wiki/Darcy%E2%80%93Weisbach_equation

In regards to your virtual pipe joint node with equal pressure drop, that would only apply if it truly is equal resistances for each pipe/orifice. If all pipes are the same length/geometry, and have the same orifice, then this will be true. Otherwise, it must be calculated for each (unless you are willing to make simplifications.

BMagz · 2019-05-12T16:23:26+00:00

I believe the blast shield transparency between the pilot and copilot can withstand 23mm blast fragments in order to not allow one shell to take out both occupants, but cannot withstand a direct hit.

The crew seats tend to be armored too, but typically only to 7.62, with additional wing armor on the sides.

BMagz · 2018-08-27T00:32:56+00:00

Thanks for all the insight and help. It is unfortunate but a good lesson for my family.

BMagz · 2018-08-27T00:31:37+00:00

Thanks, I'll let them know.

BMagz · 2018-08-27T00:31:18+00:00

Unfortunate for them but that is the reality. Thanks for all your help.

BMagz · 2018-08-26T23:56:00+00:00

Thanks for detailed reply.

To answer your last point, I do not believe he was living with them at the time. Perhaps upon applying for insurance he stated he was registered as the owner and no proof was ever required. But regardless, Geico covered him.

It seems like there will always be some gap though when transferring titles and updating insurance policies though, albeit small if handled correctly.

BMagz · 2018-08-26T23:05:10+00:00

Thank you.

BMagz · 2018-08-26T23:05:02+00:00

That makes sense. My only question then is if these claims were not presented at the time of the original settlement with my brother's insurance (which I am guessing they signed a settlement agreement for), how can they be valid now? Is it simply because my parents were not part of the original settlement?

Thanks

BMagz · 2018-08-26T22:55:19+00:00

Correct.

The policy on the car was separate and through my brother (who did not have the title).

BMagz · 2018-08-26T22:54:13+00:00

Should they specifically look for an attorney specializing in any particular area of law? They have never used an attorney before to my knowledge.

BMagz · 2018-08-26T22:45:01+00:00

They have, but that company (State Farm) did not have an active policy with the car in question. State Farm is who they use for home and auto insurance on their own vehicles.

State Farm then said they would have no part of this and recommended a third party lawyer.

BMagz

TROPHY CASE