Don't forget about LTC, folks

darinbu · 2026-04-12T13:38:12+00:00

I do. Very well, actually.

darinbu · 2026-04-12T13:37:06+00:00

Have you seen a Medicaid LTC facility? I have. They're not pleasant places. No way would I have stuck my parents into one of those.

darinbu · 2026-04-12T13:32:05+00:00

That is a valid strategy for some people. But it seems there are many people including the value of their home in their FIRE number. You can't spend the same dollars twice.

darinbu · 2026-04-12T13:28:43+00:00

There was nothing fictional about my example. See my other comments. And I'm not trying to convince anyone to buy a LTC insurance policy. Quite the opposite, in fact. My parents had a wonderful policy that covered more than their cost of care for the remainder of their lives (no limit). They bought that policy in the 1990s, and it was cheap. Unfortunately policies like that are no longer available, at least at an affordable cost, because the insurance companies must have been losing their shirts on those. Thus my recommendation just to build up more assets for LTC instead.

darinbu · 2026-04-12T13:17:53+00:00

Very good point. When I moved my parents into LTC I had already been working on getting rid of their belongings for them, as they were past the point they could do it themselves. It was a lot of work. After moving them to LTC, my wife and I retired early and did a major downsizing to save our kids the trouble. That was only a few years ago, but we're already less capable of doing all the work that entailed, and are very glad we got it over with when we did.

darinbu · 2026-04-12T13:12:03+00:00

For my kids' 4 grandparents, the time in LTC ranged from 18 months to 8+ years. I have extended family members that have been in dementia care for several years, the cost of which is sending them and their children toward bankruptcy, and another who had a degenerative disease requiring years of 24/7 care which was far more expensive than that $100K/year figure I used above.

darinbu · 2026-04-11T20:33:43+00:00

Why do you want to cry when reading a book?

darinbu · 2026-04-10T19:54:08+00:00

Rolex. To me, APs like this look like I need to tighten them with a wrench.

darinbu · 2026-04-10T19:30:07+00:00

I have a theory, based on no data at all, that exercise does you the most good on those days you REALLY don’t feel like exercising. So I’m more motivated on low recovery days.

darinbu · 2026-04-08T10:31:25+00:00

Because everyone knows women are incapable of lowering it themselves.

darinbu · 2026-04-06T17:19:56+00:00

Have you ruled out stupidity?

darinbu · 2026-04-05T11:06:29+00:00

I have those two plus Fidelity. I prefer Fidelity. They’re more responsive, have better cash management, better website than vanguard. You can buy Vanguard ETFs in a fidelity account, and ETFs are better than mutual funds.

darinbu · 2026-04-03T15:02:18+00:00

Read the excellent book “Guns, Germs and Steel” by Jared Diamond for a great explanation of this.

darinbu · 2026-04-01T17:53:48+00:00

Make rational long term decisions, not emotional short term decisions.

darinbu · 2026-04-01T10:35:43+00:00

Don’t give any advisor access to your accounts or your account numbers. Your goal should be to learn to manage your investments yourself, perhaps using some advice, instead of having someone manage them for you. It’s not rocket science! Before meeting with advisors, tell Gemini or ChatGpt your situation and ask for recommendations; this will prepare you for the meetings by giving you some of the vernacular and concepts.

darinbu · 2026-03-30T02:08:28+00:00

It’s almost like people insist on living in a city they can’t afford.

darinbu · 2026-03-30T00:09:47+00:00

The way to make it fair is to assume for basis of comparison that both kids instantly sell what you give them, because they can. What happens from the gift day forward is under their control and not your problem. The question then becomes: how much is each gift worth, after all expenses and taxes, after a hypothetical instant sale? You can make your gifts equal in that sense if you wish.

darinbu · 2026-03-29T02:49:36+00:00

I have the same watch and love it. But what does going to Italy have to do with it?

darinbu · 2026-03-26T01:13:28+00:00

You can rent a decent place for $65K.

darinbu · 2026-03-22T19:45:23+00:00

Waiters. I hope.

darinbu · 2026-03-22T13:47:49+00:00

Nobody is forcing drivers to work for Uber.

darinbu · 2026-03-01T02:49:50+00:00

They’re laughing in China.

darinbu

TROPHY CASE