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A few years ago I had a conversation with someone who was a high level quant at one of the big investment banks, and he told me about a project he led to study what sort of products they could offer to wealthy retirees. The main thing they found is that having good insurance is what really made the difference between the people who stayed rich and those who had problems. Of course since the bank didn't offer insurance policies they shelved the project, but the insight's out there at least.
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Oct 17, 2023 20:07
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KYOON GRIFFEY JR posted:At minimum, make sure you've got that in something that has decent returns - HYSA, T-Bills, short term fund like SGOV, etc. Yep. If you have money that you know you won't need in the next year, lock down some returns.
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Oct 17, 2023 21:41
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KYOON GRIFFEY JR posted:I realized I'm probably going to have a emotional reaction to number goes down as I sell my gigantic pile of T-Bills to pay for a house at some point. I should probably figure out how to deal with that. In your neck of the woods houses have historically and recently been a pretty strong investment vehicle, so just think of it as rearranging your portfolio.
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Oct 17, 2023 22:39
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The CoL calculators are really only good for getting a ballpark idea of how two metro areas compare. If you need specifics, you're going to have to make more detailed comparisons. I'm sure there are rankings out there but the cost of living in a metro area depends a lot on how you're going to live. Boston vs. Manhattan with a car is pretty different from Boston vs. Manhattan with no car, for instance, and you can probably find bigger disparities with a bit of research.
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Apr 10, 2024 23:43
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