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Re: Looking at top 1% for actionable insight

The "actionable insight" is to choose a very challenging profession (law, medicine, possibly MBA ) that has a high barrier to entry in that it takes a certain amount of intelligence , dedication and money to get into and through those graduate schools. I don't think we should assume gradu...
by avalpert
Fri Apr 18, 2014 3:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Looking at top 1% for actionable insight
Replies: 62
Views: 5775

Re: Looking at top 1% for actionable insight

HomerJ wrote:
surfstar wrote:"Money can't buy happiness"


I don't know about that... I've never seen anyone sad while riding a jetski.


I have seen people sad while desperately trying to hold on to a runaway jetski - does that count?
by avalpert
Fri Apr 18, 2014 2:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Looking at top 1% for actionable insight
Replies: 62
Views: 5775

Re: Looking at top 1% for actionable insight

SeattleCPA, A major problem with looking at people who've done very well and studied what actions they have taken is that you're ignoring all those who have taken those actions but have not done very well. Exactly, it is classic lazy 'best practices' - find someone who succeeded ask them what they ...
by avalpert
Fri Apr 18, 2014 2:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Looking at top 1% for actionable insight
Replies: 62
Views: 5775

Re: Live Now, Live Later?

You seem to be in good shape to be able to spend more now (I would recommend experiences over things of course) and live well later.

But the whining about taxes is irrelevant and a red herring to your situation.
by avalpert
Fri Apr 18, 2014 2:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: Live Now, Live Later?
Replies: 27
Views: 2102

Re: SCV premium is a history/math story, its not scientific

stocks are more risky, they must pay out more than bonds to get people to take the risk of stocks. sounds good, but completely wrong for past 50 years. You lost me here. No one knowledgeable believes the second clause of the first sentence. Indeed as stated you have an oxymoron. A statement that is...
by avalpert
Mon Apr 14, 2014 10:23 am
 
Forum: Investing - Theory, News & General
Topic: SCV premium is a history/math story, its not scientific
Replies: 46
Views: 2234

Re: How can "value beats growth" be a rule?

Good morning, I'm reading "The Four Pillars of Investing". Bernstein talks about the long-term risk difference in value stocks compared to growth stocks and I get the idea in theory - value stocks are "dogs" with higher risk but higher upside potential, while growth stocks are &...
by avalpert
Sun Apr 13, 2014 11:17 pm
 
Forum: Investing - Theory, News & General
Topic: How can "value beats growth" be a rule?
Replies: 21
Views: 1351

Re: Check picture software

Yes I have.
by avalpert
Sat Apr 12, 2014 8:27 pm
 
Forum: Personal Consumer Issues
Topic: Check picture software...iPhone app
Replies: 7
Views: 580

Re: How to short?

I've always wondered who gets to vote shorted shares. Imagine a company with three shares, one of which is owned by each of A, B, and C. Investor D shorts the stock. E buys the shorted share. Now there are four people (A, B, C, and E) who think they own the shares and can vote them, but there are n...
by avalpert
Fri Apr 11, 2014 8:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: How to short?
Replies: 14
Views: 1069

Re: Taxes with New Accountant ... Is this for real??? Invest

He needs to file taxes where his employer said he worked and withheld taxes for on his W2 (assuming he is not self employed). If the income was sourced to NJ, that's where he files, if to NY, then file in NY. He may also need to file where he is a legal resident which sounds like NJ since he rents ...
by avalpert
Fri Apr 11, 2014 7:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Taxes with New Accountant ... Is this for real??? Investing
Replies: 33
Views: 1914

Re: Taxes with New Accountant ... Is this for real??? Invest

I think I might have given you guys wrong info ... not state tax .... city tax is what I am now not paying to NY The test for New York City residency is: you maintain a permanent place of abode in New York City for more than 11 months of the year and spend 184 days or more (any part of a day is a d...
by avalpert
Fri Apr 11, 2014 7:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: Taxes with New Accountant ... Is this for real??? Investing
Replies: 33
Views: 1914

Re: Taxes with New Accountant ... Is this for real??? Invest

So if the income is sourced to XX, you don't think he has to file there? The state of XX will certainly think so. Its either that or get a corrected W2. The W2 isn't the issue, if the taxes were withheld in a state too which he doesn't owe taxes then he should file to get the refund. That said, no ...
by avalpert
Fri Apr 11, 2014 5:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Taxes with New Accountant ... Is this for real??? Investing
Replies: 33
Views: 1914

Re: Taxes with New Accountant ... Is this for real??? Invest

He needs to file taxes where his employer said he worked and withheld taxes for on his W2 (assuming he is not self employed). If the income was sourced to NJ, that's where he files, if to NY, then file in NY. He may also need to file where he is a legal resident which sounds like NJ since he rents ...
by avalpert
Fri Apr 11, 2014 5:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Taxes with New Accountant ... Is this for real??? Investing
Replies: 33
Views: 1914

Re: Taxes with New Accountant ... Is this for real??? Invest

The OP is worried if he wants to contribute or not to IRA while we are worried about his tax filing method. In the first post, OP sorta mentioned as though he has two homes (one in NJ and one in NY). OP said that he/she rents in NJ too. So unless the OP provides more info about it, we might not be ...
by avalpert
Fri Apr 11, 2014 4:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Taxes with New Accountant ... Is this for real??? Investing
Replies: 33
Views: 1914

Re: Taxes with New Accountant ... Is this for real??? Invest

He needs to file taxes where his employer said he worked and withheld taxes for on his W2 (assuming he is not self employed). If the income was sourced to NJ, that's where he files, if to NY, then file in NY. He may also need to file where he is a legal resident which sounds like NJ since he rents ...
by avalpert
Fri Apr 11, 2014 4:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Taxes with New Accountant ... Is this for real??? Investing
Replies: 33
Views: 1914

Re: Taxes with New Accountant ... Is this for real??? Invest

So, for the last 4-5 years, even though my drivers license address was and still in state of NJ (i rent there too), I was showing that I live in New York (also where I currently work). Huh? How are you "showing" that you live in New York? What does that mean? I have 2 addresses. My driver...
by avalpert
Fri Apr 11, 2014 3:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Taxes with New Accountant ... Is this for real??? Investing
Replies: 33
Views: 1914

Re: Taxes with New Accountant ... Is this for real??? Invest

My response here certainly does not constitute legal tax advice, but I believe that you must pay the income tax on your salary earned in NY to NY. I still think that you need to file the NJ return since you live there, but that NJ will not tax your income due to double taxation rules. However, I do...
by avalpert
Fri Apr 11, 2014 12:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Taxes with New Accountant ... Is this for real??? Investing
Replies: 33
Views: 1914

Re: Mr. Money Mustache: Hero or Foolish?

Personally I am not that familiar with the hyper consumerism that everyone seems to think is so prevalent. Pretty much everywhere I have lived it is only 1 or 2 couples out of 20 that live like that. The rest might not be super frugal but they are living with in their means and saving for retiremen...
by avalpert
Fri Apr 11, 2014 10:37 am
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23842

Re: Mr. Money Mustache: Hero or Foolish?

I don't think it's apples to apples when you're talking about an employer. Let's suppose I make $50k/yr and have a housing budget of $700/mo. I have a friend who has an unused McMansion so I stay there so the house is occupied and pay $700/mo vs the $1700/mo market rate. Is it honest to say I live ...
by avalpert
Fri Apr 11, 2014 10:26 am
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23842

Re: Mr. Money Mustache: Hero or Foolish?

I'm going to Greece next year for my niece's wedding. I'll probably visit some very interesting historical sites, and learn more about the history of the world and mankind. I will see beautiful islands, sparkling seas, and I'll imagine how it must of looked very much the same 2000 years ago... I li...
by avalpert
Thu Apr 10, 2014 1:14 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23842

Re: Mr. Money Mustache: Hero or Foolish?

I'm going to Greece next year for my niece's wedding. I'll probably visit some very interesting historical sites, and learn more about the history of the world and mankind. I will see beautiful islands, sparkling seas, and I'll imagine how it must of looked very much the same 2000 years ago... I li...
by avalpert
Thu Apr 10, 2014 9:27 am
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23842

Re: Index vs ETFs in 401k

How are the ETFs offered - who pays the trading fees for example?
by avalpert
Wed Apr 09, 2014 11:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Index vs ETFs in 401k
Replies: 4
Views: 227

Re: Expensive hobbies and possessions? (B/c you can...)

Decent liquors, especially scotch Have you discovered Caskers (http://caskers.com/welcome) yet? It has occasionally great deals and consistently good deals on some hard to find selections. I have not. Thank you, it looks like fun! My pleasure - I didn't even consider whisky as something that could ...
by avalpert
Wed Apr 09, 2014 9:32 pm
 
Forum: Personal Consumer Issues
Topic: Expensive hobbies and possessions? (B/c you can...)
Replies: 126
Views: 9185

Re: When To Buy Index Funds

The right answer is now - learn from the mistakes of others: http://www.bloombergview.com/articles/2 ... ad-choices
by avalpert
Wed Apr 09, 2014 5:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: When To Buy Index Funds
Replies: 4
Views: 501

Re: Income Investing

What is important to keep in mind is that the yield is still arbitrary, it has no direct relation to optimal withdrawal, safe withdrawal or anything else - it is based on the aggregation of independent decision on dividends by a multitude of companies that are uninterested in its impact on your inc...
by avalpert
Wed Apr 09, 2014 3:39 pm
 
Forum: Investing - Theory, News & General
Topic: Income Investing
Replies: 19
Views: 1729

Re: Income Investing

If you commit to only withdrawing 3% of the value of your portfolio each year you will have a ZERO chance of running out of money, will always know in advance what your withdrawal rate is and you will have no problem constructing an efficient portfolio. My issue with that is that 3% is know after t...
by avalpert
Wed Apr 09, 2014 3:09 pm
 
Forum: Investing - Theory, News & General
Topic: Income Investing
Replies: 19
Views: 1729

Re: Can I get some alpha? (DFA / Wealthfront)

Hi - I am trying to find smart ways to generate even a little bit of alpha (net of taxes and fees) above what a standard diversified equity portfolio would generate. Two ideas are: 1 - Dimensional funds (DFA) - I'm told they've been able to consistently generate 1-2% alpha via their small-cap/value...
by avalpert
Wed Apr 09, 2014 1:54 pm
 
Forum: Investing - Theory, News & General
Topic: Can I get some alpha? (DFA / Wealthfront)
Replies: 58
Views: 2905

Re: Income Investing

Because an 'efficient income portfolio' won't be an efficient portfolio and your reasoning is still just an illusion. You can accomplish your same goal by just presetting your annual withdrawal rate from your portfolio. If you commit to only withdrawing 3% of the value of your portfolio each year yo...
by avalpert
Wed Apr 09, 2014 10:12 am
 
Forum: Investing - Theory, News & General
Topic: Income Investing
Replies: 19
Views: 1729

Re: Mr. Money Mustache: Hero or Foolish?

I think you are saying he's a poet. No, not quite, though I'm no authority on who is or isn't. To me a poet must join originality and vision with a sensitive perception of beauty. A poem is like the sound of a silver bell in one's consciousness. I think he is definitely a poet. He takes one of the ...
by avalpert
Wed Apr 09, 2014 9:46 am
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23842

Re: Why pay off your house?

Really, no one ever answers that question - how many times have you posed it without a response? Any examples. I paid $5,245 in mortgage interest last year - which was then worth ~1,469 in lower federal taxes and ~$288 in state taxes. So my net interest expense was $3,488. For comparison, my net po...
by avalpert
Tue Apr 08, 2014 10:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: Why pay off your house?
Replies: 119
Views: 8478

Re: Frugality regret: What thing do you regret not spending

I think regret is too strong a word, but in retrospect I should have been looser with spending when I was in my 20's particularly on small things that provided little savings (like dessert while backpacking through Asia where it cost less than a dollar). I almost never skimped on experiences, for ex...
by avalpert
Tue Apr 08, 2014 10:15 pm
 
Forum: Personal Consumer Issues
Topic: Frugality regret: What thing do you regret not spending on?
Replies: 104
Views: 12565

Re: Frugality regret: What thing do you regret not spending

Funny because I splurged for a professional photographer for a big family event in 2003. But at a similar event in 2007 I hired a kid for a few hundred dollars. I still regret spending all that money the first time. I will admit that between 2003 and 2007 the world went digital and my comfort with ...
by avalpert
Tue Apr 08, 2014 10:01 pm
 
Forum: Personal Consumer Issues
Topic: Frugality regret: What thing do you regret not spending on?
Replies: 104
Views: 12565

Re: Why shouldn't i invest mostly in value funds?

If any sector of the market could reliably be understood to produce returns higher than the market as a whole, the price of that sector would be bid up to the point where the return on investment stopped outperforming the rest of the market. If that makes sense, then why would you think it hasn't a...
by avalpert
Tue Apr 08, 2014 9:47 pm
 
Forum: Investing - Theory, News & General
Topic: Why shouldn't i invest mostly in value funds?
Replies: 22
Views: 1418

Re: Why shouldn't i invest mostly in value funds?

Is there a reason why, at my age, i shouldn't put most of my money in value funds, especially small cap value/mid cap value and rebalance them later in safer investments when i'm much older? The reason is you may be unable to handle the increased risk you are taking for the potential of increased r...
by avalpert
Tue Apr 08, 2014 9:45 pm
 
Forum: Investing - Theory, News & General
Topic: Why shouldn't i invest mostly in value funds?
Replies: 22
Views: 1418

Re: Why shouldn't i invest mostly in value funds?

Ketawa wrote:I do (VBR, PXSV, and VSS).

VSS is most certainly not a value fund
by avalpert
Tue Apr 08, 2014 9:42 pm
 
Forum: Investing - Theory, News & General
Topic: Why shouldn't i invest mostly in value funds?
Replies: 22
Views: 1418

Re: If trading is a losing game, how do you explain prop fir

The common wisdom here is that indexing is the best strategy over time. Thus, trading stocks back and forth repeatedly, perhaps at high-frequency, is likely to underperform the market over time. Many Wall Street firms recognize this, but continue to trade because they are investing other people's m...
by avalpert
Tue Apr 08, 2014 9:38 pm
 
Forum: Investing - Theory, News & General
Topic: If trading is a losing game, how do you explain prop firms?
Replies: 38
Views: 2941

Re: Expensive hobbies and possessions? (B/c you can...)

gnosis wrote:Decent liquors, especially scotch

Have you discovered Caskers (http://caskers.com/welcome) yet? It has occasionally great deals and consistently good deals on some hard to find selections.
by avalpert
Tue Apr 08, 2014 9:12 pm
 
Forum: Personal Consumer Issues
Topic: Expensive hobbies and possessions? (B/c you can...)
Replies: 126
Views: 9185

Re: Why pay off your house?

Another question no one has addressed.... Where is this big tax deduction everyone is talking about with a mortgages??? Specifically... How much money are you saving on your taxes? And how much interest are you paying? No one that talks tax deduction ever answers this question when I pose it. Reall...
by avalpert
Tue Apr 08, 2014 9:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Why pay off your house?
Replies: 119
Views: 8478

Re: Mr. Money Mustache: Hero or Foolish?

Frankly, this thread prompted to read some more of his posts and the comments and it does come off as quite cultish, probably limiting the messages reach but generating more consistent true believers. There is a financial/investing forum that has been described as cultish and having true believers....
by avalpert
Tue Apr 08, 2014 8:52 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23842

Re: Mr. Money Mustache: Hero or Foolish?

For me money is primarily a moral problem. He can't be blamed for bad laws if he decides to avail healthcare subsidy. It is full legal, moral and ethical. Please get off your high horse. Ha. Whether it is moral and ethical is the point at dispute - I don't think it is obvious that it is at all. But...
by avalpert
Tue Apr 08, 2014 3:31 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23842

Re: Mr. Money Mustache: Hero or Foolish?

The ease of lighting a cigar with a bill depends on the relative value of the bill to your total wealth. I respectfully disagree. The ease of lighting a cigar with a bill depends wholly upon the lightness of your heart. I'm pretty sure it mostly depends on the rate of burn and your agility with you...
by avalpert
Tue Apr 08, 2014 3:28 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23842

Re: Why pay off your house?

Isn't housing a life-long cost? IF you factor it as a constant cost into retirement, do you need to rush to pay it off now? If yes, what about the loss of a tax deduction? Don't you want your money more liquid than dependent on the real estate market? Confused..... No more concern about payments, p...
by avalpert
Tue Apr 08, 2014 3:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Why pay off your house?
Replies: 119
Views: 8478

Re: Mr. Money Mustache: Hero or Foolish?

a) the guy is a financial blogger of which we have seen so many popping up in the last 5 years, as such he has to maintain interest in his blog and make money - so whith that monetary goal underlying the blog I think a lot of the above can be explained.... Exactly. To stand out in the world of a ba...
by avalpert
Tue Apr 08, 2014 11:23 am
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23842

Re: Why pay off your house?

It was alluded to earlier in the thread, but it seems like an overlooked point... If I'm sitting in a paid off house, there's no way I would consider mortgaging it to invest. why not? If you could get a mortage at 0.25% and 30 year bonds were paying 12% would you not do it? Is there really 'no way'...
by avalpert
Tue Apr 08, 2014 11:09 am
 
Forum: Investing - Help with Personal Investments
Topic: Why pay off your house?
Replies: 119
Views: 8478

Re: Mr. Money Mustache: Hero or Foolish?

I like Mr. MM and I like his blog. His human nature is going to be his downfall, though. He would make an excellent protagonist for a Greek tragedy. He does not understand the motivations of his enemies. He thinks he does. But he is naive. He imagines that their hostility can be explained by evolut...
by avalpert
Mon Apr 07, 2014 12:26 am
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23842

Re: Why pay off your house?

Life isn't always so robotic. It's not always summed up by financial math. Life is also full of surprises and money sent to a tax deferred account may have been better served paying off the mortgage early. The world is irrational after all. Sometimes that intangible peace of mind of no mortgage is ...
by avalpert
Sun Apr 06, 2014 10:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: Why pay off your house?
Replies: 119
Views: 8478

Re: Mr. Money Mustache: Hero or Foolish?

Anyone looking for a hero among bloggers is themselves being foolish.

He is just a guy with opinion who has found a way to make money off his opinions. As with anyone else's opinions some will offer interesting insight, some are filler and some will be downright bad.
by avalpert
Sun Apr 06, 2014 8:34 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 225
Views: 23842

Re: Expensive hobbies and possessions? (B/c you can...)

What are some expensive hobbies you enjoy? What are some expensive things you own? B/c you're BH but for some things, you want the very best, b/c you can... Travel, scuba and flying (private pilot, cessna 172s) are my most expensive hobbies. Though, while I spend a decent amount on travel, I travel...
by avalpert
Sun Apr 06, 2014 12:49 pm
 
Forum: Personal Consumer Issues
Topic: Expensive hobbies and possessions? (B/c you can...)
Replies: 126
Views: 9185

Re: Why pay off your house?

The bank keeps the title until you pay it off. Until then, it's theirs... The title is in your name, it is yours not theirs. No mortgage payment. Free up monthly income to invest. At the expense of having the money tied into the house instead of other investments that may earn more than the house+i...
by avalpert
Sun Apr 06, 2014 12:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Why pay off your house?
Replies: 119
Views: 8478

Re: Why pay off your house?

Isn't housing a life-long cost? IF you factor it as a constant cost into retirement, do you need to rush to pay it off now? If yes, what about the loss of a tax deduction? Don't you want your money more liquid than dependent on the real estate market? Confused..... It is a simple financial calculat...
by avalpert
Sun Apr 06, 2014 12:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Why pay off your house?
Replies: 119
Views: 8478

Re: What age did you reach 100K networth?

HardKnocker wrote:
market timer wrote:Age 32. This thread makes me feel even poorer than the net worth thread showing half of you are millionaires.


You are no happier when you have a few million than when you have enough for your basic needs.

Um, that has not been my experience.
by avalpert
Sun Apr 06, 2014 11:56 am
 
Forum: Personal Finance (Not Investing)
Topic: What age did you reach 100K networth?
Replies: 264
Views: 31184
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