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Re: "Lifestyles Unlimited" <- Anyone know about them?

Why pay $750 to spend two days having someone try to sell me a $10-20K course I don't need? These things are all over the place, but the only person making any money is the one selling the course.
by EmergDoc
Fri Mar 06, 2015 2:27 am
 
Forum: Personal Finance (Not Investing)
Topic: "Lifestyles Unlimited" <- Anyone know about them?
Replies: 5
Views: 677

Re: 3 Costs Investors Must Control

It's a good article Rick. It would have been better if you had included a fourth cost- the cost of advice. If that advice cannot reduce the other costs by more than its own cost, it is not a value-add. That's really where I see the value of an advisor- help you avoid stupid high cost investments, he...
by EmergDoc
Thu Mar 05, 2015 6:21 pm
 
Forum: Investing - Theory, News & General
Topic: 3 Costs Investors Must Control
Replies: 31
Views: 2269

Re: Arguing Dental Bill

I can't imagine keeping track of what all the various insurance companies and their plans cover, what co-pays are, what co-insurance is etc. Maybe it's a little more straightforward in dentistry. Makes you wonder if the whole process would be better without the insurance companies involved at all. P...
by EmergDoc
Wed Mar 04, 2015 7:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Arguing Dental Bill
Replies: 37
Views: 2247

Re: What percentage of your total net worth is your home?

Wow! I'm way out on the bell curve, probably because I'm young. Retirement Portfolio: Home Equity ratio is 2-3:1, but retirement portfolio to home value is < 1.5:1. I ended up around 40%. 10 years from now, that number is likely to be much lower, in the 10-20% range where most posters are.
by EmergDoc
Wed Mar 04, 2015 5:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: What percentage of your total net worth is your home?
Replies: 58
Views: 3241

Re: Wife tired of saving...

Wife and I have had the same mindset since we meet and got married. Fast Forward 16 years and a net worth of 1.9m, she is tired of saving and not doing much with the money. We have 2 kids (9 and 2) and live in a townhome but now she wants to move to a larger home. The townhome is enough but every s...
by EmergDoc
Wed Mar 04, 2015 5:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wife tired of saving...
Replies: 141
Views: 10258

Re: Rich dad, poor dad

I must not have read that many personal finance books, because RDPD did rank up there for me in terms of being among the worst finance books I have had the ill fortune of wasting my time on. I'm going to have the people who keep sending me books to review on my blog start sending them to you. I can...
by EmergDoc
Wed Mar 04, 2015 4:03 am
 
Forum: Personal Consumer Issues
Topic: Rich dad, poor dad
Replies: 31
Views: 3772

Re: Rich dad, poor dad

RDPD is far from the worst financial book I've ever read. There are a few redeeming concepts in it although JTR's critique is well-worth reading. I'm not sure why Bogleheads get so worked up about it. Perhaps because the employee>entrepreneur ratio here is quite high and most people prefer stocks to...
by EmergDoc
Wed Mar 04, 2015 2:16 am
 
Forum: Personal Consumer Issues
Topic: Rich dad, poor dad
Replies: 31
Views: 3772

Re: Who has owned a ski boat or waverunner & did you regret

I'm scared to add it up. :) Although I have over 30 boat days planned this year, more typical for us is 10-15 days a year. Short season here. So when you divide up the costs, it's really about how much you use it. If you're going to put 200 hours on that sucker, the per use cost will be mostly gas. ...
by EmergDoc
Tue Mar 03, 2015 7:11 pm
 
Forum: Personal Consumer Issues
Topic: Who has owned a ski boat or waverunner & did you regret it?
Replies: 19
Views: 1474

Re: Who has owned a ski boat or waverunner & did you regret

First of all, buying a boat is almost always a terrible financial decision. This is in no way, shape, or form an investment. It's not a consumption item that may keep up with inflation like a house or vacation home. It's just a massive, huge money pit. So make darn sure you can afford this hobby bef...
by EmergDoc
Tue Mar 03, 2015 4:36 pm
 
Forum: Personal Consumer Issues
Topic: Who has owned a ski boat or waverunner & did you regret it?
Replies: 19
Views: 1474

Re: What if you already have a couple million?

It really depends on your spending. Many people retire very well on less than half of $2 Million. Others would run out of money halfway through retirement if they started with just $2 Million. What you need are some goals that matter to you. Then you can formulate an investing policy based on those ...
by EmergDoc
Tue Mar 03, 2015 2:42 am
 
Forum: Investing - Help with Personal Investments
Topic: What if you already have a couple million?
Replies: 42
Views: 6276

Re: Which financial designation would you recommend?

CFA isn't going to help teachers much. Plus it's the hardest one to get. About the equivalent of a full-time college semester spread over 18-36 months. ~ 750 hours CFP is a great choice. You might not get the designation unless you can convince them you have the experience. I have been told that my ...
by EmergDoc
Sun Mar 01, 2015 2:24 am
 
Forum: Personal Finance (Not Investing)
Topic: Which financial designation would you recommend?
Replies: 5
Views: 691

Re: How much was your Tax Refund (or amount DUE)

Mid five figure amount on 2014 Federal. But at least the penalty is only $32. 2nd Q estimated was just a little too low to keep me in the safe harbor. Painful tax day this year, especially when you add in 2015 Q1 estimated and my entire 2014 state tax bill (no quarterlies in my state.) I'm taking my...
by EmergDoc
Sun Mar 01, 2015 2:06 am
 
Forum: Personal Finance (Not Investing)
Topic: How much was your Tax Refund (or amount DUE)
Replies: 110
Views: 7223

Re: Boglehead theory on p2p lending?

However, reading people such as EmergDoc it seems that you have to be willing to invest a lot of time in the task, and that's the only thing holding me back at present. I've completely automated the buying and I haven't really bothered doing any selling the last year or so. The only work I do now i...
by EmergDoc
Sun Mar 01, 2015 1:25 am
 
Forum: Investing - Theory, News & General
Topic: Boglehead theory on p2p lending?
Replies: 52
Views: 5698

Re: Boglehead theory on p2p lending?

Lots of valid criticisms in this thread. History is short. But history is pretty darn short on most of what we invest in when you really think about it. Start asking yourself when the first REIT appearred, or the first index fund, or Vanguard's small cap international index fund or international bon...
by EmergDoc
Sun Mar 01, 2015 1:23 am
 
Forum: Investing - Theory, News & General
Topic: Boglehead theory on p2p lending?
Replies: 52
Views: 5698

Re: Backdoor ROTH went wrong (2014)

You are correct. You should only be paying taxes on the difference. The rest is just paperwork. You don't have any other traditional IRAs right? My Vanguard 1099 R (I did the backdoor Roth right) says this: 1 5500 2 5500 2b X 4 0 7 02 ira/sep/simple box X 12 0 Sounds an awful lot like yours to me. T...
by EmergDoc
Sat Feb 28, 2015 3:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Backdoor ROTH went wrong (2014)
Replies: 8
Views: 594

Re: Is Vanguard understaffed?

indexfundfan wrote: Is Vanguard understaffed?


I hope so. I need very little staffing for my needs. 99% of what I do is done online and if that keeps my costs down, great.
by EmergDoc
Fri Feb 27, 2015 3:07 pm
 
Forum: Personal Consumer Issues
Topic: Is Vanguard understaffed?
Replies: 37
Views: 3369

Re: Vanguard Tot Intl and Emerging Markets just got cheaper

How many Starbucks grande drips is that a year? 0.0002 x $100,000 = $20 = 10 grandes (@ $2 per). Once you have $1 million in Total International, it starts to add up. It's my biggest single holding, so my overall ER went from .096 to .091. Very noticeable. It must be nice that half a basis point ma...
by EmergDoc
Fri Feb 27, 2015 3:44 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard Tot Intl and Emerging Markets just got cheaper
Replies: 56
Views: 6223

Re: physicians [Frustrated, considering early retirement]

Frustrated, at times, yes. "Considering" early retirement? Not considering it, going to do it. Working hard for a few more years or less then dialing it back. Currently saving over 50% of income to do so. Can't wait for FI! :moneybag That's what I'm talking about. Either do work you like ...
by EmergDoc
Thu Feb 26, 2015 6:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: physicians [Frustrated, considering early retirement]
Replies: 132
Views: 8887

Re: physicians [Frustrated, considering early retirement]

For EmergDoc, I recently retired due to burnout. The problem is never with the patient whose life you saved. The problem is with the patient with a stubbed toe who becomes irate that that they had to wait forever to be seen because you were busy saving that persons life. They don't understand that ...
by EmergDoc
Thu Feb 26, 2015 2:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: physicians [Frustrated, considering early retirement]
Replies: 132
Views: 8887

Re: physicians [Frustrated, considering early retirement]

If one took out $350k of student loans to become a doctor then that person has made a number of catastrophic financial decisions (which cannot be blamed on medicine). I have sympathy for that person's predicament, but they bear personal responsibility for putting themselves in that position. You se...
by EmergDoc
Thu Feb 26, 2015 2:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: physicians [Frustrated, considering early retirement]
Replies: 132
Views: 8887

Re: Have I made a terrible mistake? - whole life

It might be a terrible mistake, but it's certainly a common one. I've made it too. This post may help you evaluate your options.

http://whitecoatinvestor.com/how-to-dum ... fe-policy/
by EmergDoc
Thu Feb 26, 2015 1:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Have I made a terrible mistake? - whole life
Replies: 52
Views: 6030

Re: Should you tip when picking up takeout food?

If I'm leaving a tip all I should have to do is eat. They bring me a menu. They take my order. They bring me my food. They refill my water glass. They ask if I want dessert. They bring me the check etc. Otherwise, no tip. I'll make an exception for those restaurants where you pay on the way out (Den...
by EmergDoc
Thu Feb 26, 2015 1:48 pm
 
Forum: Personal Consumer Issues
Topic: Should you tip when picking up takeout food?
Replies: 54
Views: 3763

Re: physicians

I think the part about the 28 hours a week may explain something!; I'm about 80 hrs a week Why? Do you owe money to someone? Residency taught me a lot of things, one of which was that I wouldn't be very happy working 80 hours a week the rest of my life. Granted, my 28 hours a week, while accurate, ...
by EmergDoc
Wed Feb 25, 2015 4:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: physicians [Frustrated, considering early retirement]
Replies: 132
Views: 8887

Re: Is the first 100k really the hardest?

The first "whatever milestone" IS harder than the next milestone of the same size because you don't have your money working for you as much. When you're going from $100K to $200K, you not only have your work, but also the work of that first $100K to help you get there. Capitalism is a beau...
by EmergDoc
Wed Feb 25, 2015 4:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is the first 100k really the hardest?
Replies: 58
Views: 8793

Re: physicians

Nothing helps me appreciate my clinical job as much as my other job. Outside of medicine, I have to really bust my butt to make a six figure salary. Inside of medicine, I just have to show up and not kill anyone for 28 hours a week and these gigantic deposits show up in my checking account every mon...
by EmergDoc
Wed Feb 25, 2015 11:33 am
 
Forum: Personal Finance (Not Investing)
Topic: physicians [Frustrated, considering early retirement]
Replies: 132
Views: 8887

Re: How much did you have saved up for retirement at age 30?

CrowTRobot wrote:Whatever loose change was in my car's ashtray.


Returns on that are tax-free, right?
by EmergDoc
Tue Feb 24, 2015 2:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much did you have saved up for retirement at age 30?
Replies: 172
Views: 12289

Re: Exit Strategy VUL policy

For the size of your policy, I think you'll find the Jefferson National VA attractive. Prices are fixed. You could buy LTC insurance too, but given your assets, you're probably self-insuring that. I wrote a post that might help:

http://whitecoatinvestor.com/how-to-dum ... fe-policy/
by EmergDoc
Tue Feb 24, 2015 2:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Exit Strategy VUL policy
Replies: 10
Views: 757

Re: Help! I can't afford to eat on my South Beach vacation

While I've definitely got a frugal streak that makes spending painful sometimes, I try to worry about that beforehand and then enjoy myself in the moment. If you go to a restaurant, don't cheap out on the tip. If you go to South Beach, don't starve yourself. The time to worry about that is before an...
by EmergDoc
Tue Feb 24, 2015 2:03 am
 
Forum: Personal Consumer Issues
Topic: Help! I can't afford to eat on my South Beach vacation
Replies: 60
Views: 4931

Re: How much did you have saved up for retirement at age 30?

I had a negative net worth at 28, a four figure portfolio at 30, a six figure portfolio at 33-34ish and a 7 figure net worth by 38. Was a few thousand at age 30 enough? I don't know. It was what it was. That's where I was in life. I wasn't making much. Too much focus in this forum is often put on in...
by EmergDoc
Tue Feb 24, 2015 1:56 am
 
Forum: Personal Finance (Not Investing)
Topic: How much did you have saved up for retirement at age 30?
Replies: 172
Views: 12289

Re: Real estate investing the Boglehead way

I really like Reed's books. I reviewed one here: http://whitecoatinvestor.com/best-practices-for-the-intelligent-real-estate-investor-a-review/ If nothing else, go to his site and read his bit on Kiyosaki. As far as forums, the best is BiggerPockets. Real estate the Boglehead way is probably REITS. ...
by EmergDoc
Mon Feb 23, 2015 7:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Real estate investing the Boglehead way
Replies: 10
Views: 1326

Re: Moving to Anchorage from Dallas

Plan on your housing costing twice as much in Alaska as in Dallas. Contrary to the post above, you don't necessarily get all that back when you sell. There's a lot of factors that go into how much your house appreciates, but one thing is for certain (assuming you can't pay cash for a house)- you wil...
by EmergDoc
Mon Feb 23, 2015 4:05 pm
 
Forum: Personal Consumer Issues
Topic: Moving to Anchorage from Dallas
Replies: 30
Views: 2494

Re: Hsa payroll tax

SS caps out, but not medicare. So if you make $200K, its 1.45% * $6650 = $96.43 a year in tax savings to stick with the employer deducting it and sending it to their favored HSA vs what you'd have if you just used your own HSA somewhere else. You can roll the money out of the employer plan periodica...
by EmergDoc
Sun Feb 22, 2015 3:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Hsa payroll tax
Replies: 7
Views: 649

Re: Moving to Anchorage from Dallas

You'll probably break even on the 20% raise. That's not a good reason to go to Alaska. You need to want to be there. Those who don't, usually leave after the first Winter. That's why Alaskans are the happiest people. All those who aren't happy there have already left. Dallas has a very low cost of l...
by EmergDoc
Fri Feb 20, 2015 10:37 am
 
Forum: Personal Consumer Issues
Topic: Moving to Anchorage from Dallas
Replies: 30
Views: 2494

Re: Dual Momentum Investing

Remember that any strategy that comes from backtesting is going to look fantastic when you compare it to backtested data. Because that's where it comes from. It does no good to go back and look at more backtested data to see how it did, especially recent backtested data. The proof is in the pudding,...
by EmergDoc
Thu Feb 19, 2015 12:27 am
 
Forum: Investing - Theory, News & General
Topic: Dual Momentum Investing
Replies: 55
Views: 4286

Re: The 8x retirement savings rule

The whole rule is flawed. It simply doesn't apply. When you ask the question of whether or not you have enough to retire, the question is how much you have vs how much you spend, not how much you make. This is similar to the stupid mistake the rule in The Millionaire Next Door that determines if you...
by EmergDoc
Thu Feb 19, 2015 12:17 am
 
Forum: Investing - Theory, News & General
Topic: The 8x retirement savings rule
Replies: 83
Views: 7783

Re: Prorating Tax Refund with Dear Wife

I think I'm going to go give my wife a big hug. OP here. I don't know how to interpret this but for the record - It was my wife's idea to keep finances separate as we married late and it was her second marriage. She didn't like the way her first husband handled the finances so she wanted control of...
by EmergDoc
Wed Feb 18, 2015 11:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Prorating Tax Refund with Dear Wife
Replies: 18
Views: 1714

Re: Is it true VTSAX Total Market fund...

I don't think so. Isn't Apple on the Nasdaq? I'm pretty sure the international fund is mostly if not completely non-NYSE stocks.
by EmergDoc
Wed Feb 18, 2015 4:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Is it true VTSAX Total Market fund...
Replies: 15
Views: 1467

Re: Prorating Tax Refund with Dear Wife

I think I'm going to go give my wife a big hug.
by EmergDoc
Wed Feb 18, 2015 4:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Prorating Tax Refund with Dear Wife
Replies: 18
Views: 1714

Re: Dave Ramsey Lashes Out at His Financial Critics

fanmail wrote:I think the takeaway here is that the market needs a sensible get out of debt person with a boglehead investment mindset....


....who is as skilled at marketing as Dave Ramsey.
by EmergDoc
Wed Feb 18, 2015 12:41 pm
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey Lashes Out at His Financial Critics
Replies: 89
Views: 9679

Re: 3-1/3% SWR = you can manage it by intuitive household bu

I'm with Taylor on this. The usefulness of a SWR rule is in determining more or less when you can retire (i.e. when assets equal 20-30X expenses-guaranteed income), not in actually managing your retirement cash flow. Arguing about whether the SWR is 3.3% or 3.7% is a waste of time and energy by thos...
by EmergDoc
Wed Feb 18, 2015 12:38 pm
 
Forum: Investing - Theory, News & General
Topic: 3-1/3% SWR = you can manage it by intuitive household budget
Replies: 40
Views: 3539

Re: 80% stock/20% bonds? Or 90% stock/10% bonds? (Age 28)

I've seen conflicting advice in various places. What determines the appropriate ratio? It is highly unlikely to matter. Those are unlikely to perform significantly differently from each other in a bull, in a bear, or over the long run. Worrying about little details like that isn't a very productive...
by EmergDoc
Wed Feb 18, 2015 12:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: 80% stock/20% bonds? Or 90% stock/10% bonds? (Age 28)
Replies: 90
Views: 3539

Re: Whole life policy - 5.5% for first year, 3.5% thereafter

Cool. That should produce a nice little boost to your return. It's not much, but it's better than a kick in the teeth.
by EmergDoc
Wed Feb 18, 2015 12:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Whole life policy - 5.5% for first year, 3.5% thereafter.
Replies: 4
Views: 323

Re: Mortgage for a medical resident (before start date)

I agree with most posters that residents in general shouldn't buy a house: http://whitecoatinvestor.com/10-reasons-why-residents-shouldnt-buy-a-house/ However, I'm also well aware that the OP is unlikely to take my advice for various reasons. He thus needs to learn about doctor loans: http://whiteco...
by EmergDoc
Wed Feb 18, 2015 12:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage for a medical resident (before start date)
Replies: 18
Views: 926

Re: The Non-Millionaire Next Door

Misers can always catch themselves and say 'oh no it's about charity, that's it' or some such but IMO it's fairly clear it's not always that rational. "Miser" is a pejorative. If someone derives pleasure simply from being rich, without any plans to spend his wealth, why should he be criti...
by EmergDoc
Tue Feb 17, 2015 3:34 pm
 
Forum: Investing - Theory, News & General
Topic: The Non-Millionaire Next Door
Replies: 43
Views: 6246

Re: The Non-Millionaire Next Door

I find after so many years of working, saving, & investing -- loosening up the purse strings is easier said than done. I know...it's a good problem to have, but the mentality doesn't just change over night. Best to practice a bit as you go along. I started in 2014. :) http://whitecoatinvestor.c...
by EmergDoc
Tue Feb 17, 2015 3:29 pm
 
Forum: Investing - Theory, News & General
Topic: The Non-Millionaire Next Door
Replies: 43
Views: 6246

Re: RMD Greater Than Budget

Can't do option A. Put it into a taxable account or spend it.
by EmergDoc
Tue Feb 17, 2015 3:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: RMD Greater Than Budget
Replies: 20
Views: 1605

Re: The Non-Millionaire Next Door

I think a wealthy person is entitled to spend what he has earned and saved, but he is not obligated to do so. I agree. The point of that quote is that the heirs still get the $10 Million (just not $11 Million) even if the wealthy guy blows $1 Million giving money to charity, giving it to his heirs ...
by EmergDoc
Tue Feb 17, 2015 12:21 pm
 
Forum: Investing - Theory, News & General
Topic: The Non-Millionaire Next Door
Replies: 43
Views: 6246

Re: The Non-Millionaire Next Door

As a general rule, Bogleheads tend to value financial security over consumption. That's fine. But it's not necessarily correct. Take a look at a current thread where Bogleheads were asked how expensive of a house they would buy if they had $25 Million sitting around. The high was like $2-3 Million a...
by EmergDoc
Tue Feb 17, 2015 11:49 am
 
Forum: Investing - Theory, News & General
Topic: The Non-Millionaire Next Door
Replies: 43
Views: 6246

Re: Dual Momentum Investing

I'm cautiously optimistic about the benefits and back-tested results of trend following, which is primarily what I understand Antonacci's technique to be. Keep in mind that Bogleheads are very skeptical folks because that skepticism has been rewarded time and time again. That doesn't mean that it pr...
by EmergDoc
Tue Feb 17, 2015 11:35 am
 
Forum: Investing - Theory, News & General
Topic: Dual Momentum Investing
Replies: 55
Views: 4286

Re: Backdoor Roth tax chaos; did my F.A. lead me astray?

Yes, your advisor is an idiot. While I can understand waiting a few months out of caution for the step doctrine, you still want to have the traditional IRA empty on 12/31 to avoid the pro-rata issue. However, this isn't that big of a deal. It just makes for some messy paperwork this year. Tell your ...
by EmergDoc
Sun Feb 15, 2015 10:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth tax chaos; did my F.A. lead me astray?
Replies: 36
Views: 2028
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