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Re: Do you love your job? What do you do?

Software development. A new project every few months. I love it. I could retire but have no desire to, I will keep doing this for as long as possible. Project based work is fantastic because you can line up long vacations in between projects if you're smart about scheduling, and don't have the mind ...
by mac808
Wed Mar 19, 2014 4:37 am
 
Forum: Personal Finance (Not Investing)
Topic: Do you love your job? What do you do?
Replies: 134
Views: 10105

Re: Money issues - people take me for granted

I've been in the same boat. Close friends (like my best 4-5 friends in the world who I went through a lot of crap with), I would do pretty much anything for. I made money before any of them did. I loaned 2 of them $30k each and both paid me back. One of them was a year late in paying me back but I n...
by mac808
Tue Mar 11, 2014 1:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Money issues - people take me for granted
Replies: 74
Views: 4931

Re: Helping an irresponsible dad preserve a financial windfa

I've seen a lot of older folks enjoy moving from the Bay Area to Las Vegas; there is a lot to do, it's still close to the west coast, and it's so much cheaper. Does he own a home in the Bay Area? If so, that could be another huge windfall for him.
by mac808
Mon Mar 03, 2014 2:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Helping an irresponsible dad preserve a financial windfall
Replies: 29
Views: 2406

Re: California vs. Texas

I have lived in both states. Some thoughts: 1. It wasn't the extra income tax that bothered me most about California, but the extreme social inequality. In Texas, there are less distinctions between the classes because real estate, good schools, and safe neighborhoods are accessible for almost every...
by mac808
Wed Feb 26, 2014 11:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: California vs. Texas
Replies: 32
Views: 2816

Re: The Estate lawyer cost us big

Get the full bill, which should include every cost down to the penny, including itemization of the $16k tax prep and filing costs. Mark anything that seems inflated. Ask to speak to your cousin's boss, either the supervising partner, or if your cousin is a partner, then the managing partner of the f...
by mac808
Sun Feb 23, 2014 9:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8897

Re: Family Inheritance / (Family Feud)

The devil's in the details but my gut tells me it sounds like an irrevocable trust and grandpa probably has no (legal) power to change it.
by mac808
Tue Jan 28, 2014 11:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Family Inheritance / (Family Feud)
Replies: 16
Views: 2309

Re: Burton Malkiel, Wealthfront CIO

I looked at starting a similar business in 2011. The problem, as mentioned earlier in this thread, is that the AUM # needs to be so massive @ 25 basis points fee in order to drive real revenue. I concluded it would be better off as a lifestyle business, which seems to be the route that other contrib...
by mac808
Sat Jan 04, 2014 10:29 pm
 
Forum: Investing - Theory, News & General
Topic: Burton Malkiel, Wealthfront CIO
Replies: 89
Views: 11009

Re: 28 y/o Investor With 1M Portfolio Needs Advice

I had a seven figure portfolio around that age due to a small business going well. I opted for 50/50 initially - once you've won the game, quit playing, etc. I changed it to 60/40 and then 70/30 over the following 24 months. 70/30 is where I felt (and still feel) most comfortable. I would not go 100...
by mac808
Fri Dec 13, 2013 3:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: 28 y/o Investor With 1M Portfolio Needs Advice
Replies: 31
Views: 4435

Re: Who on here owned American Airlines Stock

You didn't lose 85% of the value. You have been sucked into a complicated distribution formula that depends on debt schedules and the new AAL share price over the next 120 days. Head over to the Yahoo finance message board and read more.
by mac808
Thu Dec 12, 2013 4:31 am
 
Forum: Investing - Help with Personal Investments
Topic: Who on here owned American Airlines Stock
Replies: 20
Views: 1565

Re: 145k in student loans, 255k in investments, and UNK Futu

What happens if you pay off your loans and then, due to unforeseen circumstances, you end up staying at your current job another 7 years?

If you do want to pay them off, I would do it the day after you leave and not a moment sooner.
by mac808
Tue Dec 10, 2013 7:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Financial decisions to start a business and family (edited)
Replies: 36
Views: 1957

Re: Fidelity undercuts Vanguard target date funds

Competition is a beautiful thing.
by mac808
Thu Dec 05, 2013 5:47 pm
 
Forum: Investing - Theory, News & General
Topic: Fidelity undercuts Vanguard target date funds
Replies: 31
Views: 2242

Re: windfall in high tax california, what to do

Is the windfall in the form of long term capital gains or earned income? Do you plan to retire in the Bay Area, or eventually leave for cheaper pastures once you are ready to quit working?
by mac808
Sun Nov 17, 2013 8:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: windfall in high tax california, what to do
Replies: 20
Views: 1929

Re: "Why baby boomers won't bust the market"

From what I've read a small % of boomers own a large % of the stock market, and those folks don't need the principal to live on, so the impact should be muted. More interesting to me is the boomer effect on housing prices, because there's a much more even distribution of houses to boomers. As the wa...
by mac808
Wed Nov 13, 2013 9:48 pm
 
Forum: Investing - Theory, News & General
Topic: "Why baby boomers won't bust the market"
Replies: 13
Views: 1753

Re: Physician - real estate question

Wait at least a year after joining a new job/practice to make sure you like it. Most residents I know seem to move multiple times before they find the right fit for long term career path. Same with physicians retiring from military service.
by mac808
Fri Nov 01, 2013 3:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Physician - real estate question
Replies: 11
Views: 1450

Re: Best careers for people about to enter college?

Computer science. Learn how to code and manage software. A top 1/3rd programmer earns $100k out of school (in SF, NYC, or Boston) with lots of growth potential. It's also a flexible career choice - can take risk and join a startup, work remote from Thailand, become a consultant and work part-time, e...
by mac808
Tue Oct 22, 2013 1:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Best careers for people about to enter college?
Replies: 69
Views: 5093

Re: Can we afford private school?

I went to 8 different K-12 schools and even homeschooled for a year while growing up (military family). Based on my experience, a 99th percentile gifted-only public magnet school was the best, followed by (large gap) the private schools, followed by (large gap) the public schools. Class sizes, motiv...
by mac808
Tue Jul 23, 2013 3:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can we afford private school?
Replies: 87
Views: 6522

Re: At what networth is it not worth working at X salary?

I struggle with this (mental) challenge also, in a similar situation as reason-logic (with lower absolute #s) - more than enough to retire, and half way out the door already, but significant golden handcuffs make it hard to exit completely. After-tax savings from my salary in 2013 will be a little o...
by mac808
Sat Jul 13, 2013 5:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: At what networth is it not worth working at X salary?
Replies: 34
Views: 5672

Re: NYC, Philly, Boston, or Chicago?

I would go wherever the best career opportunities are. NYC might be the most fun in terms of nightlife. Philly and Chicago are significantly cheaper than NYC or Boston but for a short period of time, the extra cost might not matter.
by mac808
Fri Jul 12, 2013 9:33 pm
 
Forum: Personal Consumer Issues
Topic: NYC, Philly, Boston, or Chicago?
Replies: 102
Views: 6284

Re: how bad would it hurt to spend an extra 10k on a car (24

If you're a true boglehead, you'll regret the purchase shortly after making it. It sounds to me like you want a status symbol more than a car. And as other posters have alluded to, sometimes a car is not just a car, but the cornerstone of the type of lifestyle you end up getting sucked into.
by mac808
Fri Jul 12, 2013 8:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: how bad would it hurt to spend an extra 10k on a car (24 yo)
Replies: 93
Views: 4905

Re: Mom just lent 40k to a friend w/o a contract

Depends on the parties involved. I have some close friends who I would trust with my life, and with $40k (2-3% of net worth). Others who I wouldn't. I do believe that in some cases, if it doesn't present much financial risk to the lender, lending cash to a close, responsible friend who is in a tough...
by mac808
Fri Jul 12, 2013 1:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Mom just lent 40k to a friend w/o a contract
Replies: 61
Views: 6223

Re: Tesla Motors Stock

I can't speak to Tesla's stock market valuation, but to echo similar sentiments expressed in the thread, all of the car guys I know who have driven Tesla cars absolutely love them.
by mac808
Thu Jul 11, 2013 1:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Tesla Motors Stock
Replies: 164
Views: 11527

Re: Are you expected to subsidize friends and family?

This is where the "millionaire next door" lifestyle has helped me. Friends know I am financially very successful but see me living in a very modest apartment and driving an old, beat up used car. They observe me making very conscious spending choices whenever we are out and about, using co...
by mac808
Thu Jun 27, 2013 11:58 am
 
Forum: Personal Consumer Issues
Topic: Are you expected to subsidize friends and family?
Replies: 52
Views: 5573

Re: "Why yes, yes I am."

The ironic part is that Doctors should actually have an easy time saving since they work so many hours and live so cheaply as residents. After residency, just continue to live like a resident for a few more years, and you'll have a great cushion. Unfortunately most of them have poor business sense a...
by mac808
Sun Jun 23, 2013 12:34 pm
 
Forum: Personal Consumer Issues
Topic: "Why yes, yes I am."
Replies: 39
Views: 6687

Re: Business Travel to Tijuana/Tecate/Ensenada

I wouldn't take the job. I have friends who work in Mexico and I've heard a lot of horror stories about the cartels and increasing levels of indiscriminate violence, to the point where some friends have quit going down there and others are looking to move on to safer jobs. I used to go down to TJ in...
by mac808
Tue Jun 11, 2013 2:56 pm
 
Forum: Personal Consumer Issues
Topic: Business Travel to Tijuana/Tecate/Ensenada
Replies: 35
Views: 2017

Re: What the best value in anti-virus software

AVG works well for me
by mac808
Sun Jun 02, 2013 3:10 am
 
Forum: Personal Consumer Issues
Topic: What the best value in anti-virus software
Replies: 63
Views: 4806

Re: Adult "child" moved back home - avoiding failure to laun

Good Lord. Kid flunks college and returns home? That's insane. How bout returning to a place called somewhere else and dealing with life? No effing way would the kid be allowed back here if he/she flunked out. They invented cheap crappy apartments and roommates for a reason. Feel free to stop by on...
by mac808
Thu May 30, 2013 10:57 pm
 
Forum: Personal Consumer Issues
Topic: Adult "child" moved back home - avoiding failure to launch
Replies: 196
Views: 12465

Re: The college "bubble" and financial literacy

Even with some intensive financial mentoring or education, I'm not sure the average 17 or 18 year old has anywhere near enough life experience to understand the implications of leaving school $100k+ in debt. I think what happens to some of these kids is almost criminal. I would support being able to...
by mac808
Thu May 30, 2013 10:25 pm
 
Forum: Personal Consumer Issues
Topic: The college "bubble" and financial literacy
Replies: 4
Views: 543

Re: Downpayment Money from In-Laws

If you're a CPA then I will assume you know enough about your own financial situation to determine whether you can afford the house on an on-going basis or not. That said, I wouldn't hesitate to borrow some of the $ if it would help squeeze into a house faster. I do think prices will continue to cli...
by mac808
Thu May 30, 2013 10:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Downpayment Money from In-Laws
Replies: 52
Views: 4056

Re: What's the point?

I was in a similar situation. I adopted a bunker mentality. Every month/quarter I survived was a victory. :twisted: It didn't feel great at the time but now, looking back, I am grateful I toughed it out. Towards the end I set a 12 month count-down which helped reduce the stress.
by mac808
Sat May 18, 2013 12:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: What's the point? [job frustration]
Replies: 42
Views: 4398

Re: Vanguard vs. Fidelity

Although I like Vanguard more as a company, Fidelity has a better website IMO and so I use them for most of my investing instead. It may sound silly but I am willing to pay a few basis points more in fees to have access to all the website tools that I'm now familiar with. Can't go wrong with either ...
by mac808
Wed May 08, 2013 9:41 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard vs. Fidelity
Replies: 17
Views: 2315

Re: Afraid to put money back into market. Help

Jebediah wrote:
mac808 wrote:In the long term, it's likely to be much, much higher than it is today.


Oh really? What makes you say that?


History. If you want to make an options bet that the market will be flat in nominal terms over the next 30 years, I am sure you will find many takers. :sharebeer
by mac808
Sat May 04, 2013 1:47 am
 
Forum: Investing - Help with Personal Investments
Topic: Afraid to put money back into market. Help
Replies: 35
Views: 2994

Re: Afraid to put money back into market. Help

The near term future is impossible to predict - it could go up 20%, or down 20%. In the long term, it's likely to be much, much higher than it is today. My advice, having faced the same mostly psychological situation, is to DCA in 1/12th of the money every 2 weeks for 6 months (or whatever #s seem r...
by mac808
Sat May 04, 2013 12:06 am
 
Forum: Investing - Help with Personal Investments
Topic: Afraid to put money back into market. Help
Replies: 35
Views: 2994

Re: Do billionaires use Vanguard?

I'm friends with a kid who has a family office and it seems like the rule of thumb is, the more money you have (into the billions), the more diversified you are or should be into alternative asset classes. Not necessarily hedge funds, more stuff like raw commodities - a 20 thousand acre redwood fore...
by mac808
Wed Apr 17, 2013 1:06 pm
 
Forum: Investing - Theory, News & General
Topic: Do billionaires use Vanguard?
Replies: 31
Views: 4351

Re: Taking it too far? Saving so aggresively I feel stretche

Mac808 - that definitely resonates. I've actually found myself frustrated that the efficient market hypothesis means proper investing requires so little effort once you've got the basics sorted out! Anyway, thanks very much for the perspectives everyone - it's been very helpful! The benefits of sav...
by mac808
Mon Apr 15, 2013 2:57 am
 
Forum: Investing - Help with Personal Investments
Topic: Taking it too far? Saving so aggresively I feel stretched...
Replies: 54
Views: 4759

Re: Taking it too far? Saving so aggresively I feel stretche

I was in a similar situation as you and then I realized that over time, saving became more fun for me than spending money - at least spending it in 99% of the ways that most people do. I still love traveling, but almost all other consumer purchases lost their appeal to me. Instead, I derive a lot of...
by mac808
Sun Apr 14, 2013 3:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Taking it too far? Saving so aggresively I feel stretched...
Replies: 54
Views: 4759

Re: Investing in cryptocurrencies: Bitcoin, Litecoin, PPCoin

Bitcoin is very much a speculative virtual currency. I am personally a big fan and think that over time it could become a viable, fun, albeit niche means to facilitate certain online transactions -- but I don't think it will ever be appropriate for 95%+ of normal folks to use, due to the massive ris...
by mac808
Thu Apr 04, 2013 4:36 am
 
Forum: Investing - Theory, News & General
Topic: Investing in cryptocurrencies: Bitcoin, Litecoin, PPCoin,etc
Replies: 40
Views: 2621

Re: [Child Reimbursing a parent for expenses]

At that amount, between parent and child, no one cares - certainly not the IRS. If you're asking a practical question, then it's a non issue. If you're asking a theoretical question, then other posters have provided the answer. Furthermore, there is no need to space out the payments. You can give up...
by mac808
Sun Mar 31, 2013 5:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: [Child Reimbursing a parent for expenses]
Replies: 14
Views: 835

Re: I'm stuck at Fidelity, but like Vanguard funds better

For what it's worth, I'm in the same position but I stick with Fidelity because I like the website & web tools so much more than Vanguard's.
by mac808
Fri Mar 29, 2013 1:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: I'm stuck at Fidelity, but like Vanguard funds better
Replies: 23
Views: 2272

Re: Things I should buy/experience while in my 30s?

two chicks at the same time.
by mac808
Wed Mar 27, 2013 11:12 pm
 
Forum: Personal Consumer Issues
Topic: Things I should buy/experience while in my 30s?
Replies: 112
Views: 9657

Re: Are you Walking in your Father's footsteps?

I'm significantly ahead of where my parents were at my age, but only because of the sacrifices they made and the opportunities they provided for me.
by mac808
Tue Mar 26, 2013 4:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Are you Walking in your Father's footsteps?
Replies: 83
Views: 8501

Re: unexpected danger to bank accounts ...

Fascinating to watch this develop. I think they made a huge mistake in hitting people below 100k Euros which is the insurance limit similar to FDIC in the States. Even if Cyprus went bankrupt, those folks were not supposed to be harmed at all. Faith in the banking system is the foundation of modern ...
by mac808
Mon Mar 18, 2013 7:25 am
 
Forum: Investing - Theory, News & General
Topic: unexpected danger to bank accounts ...
Replies: 27
Views: 2611

Re: Do we have enough to retire?

"It's not what you make, it's what you spend."

How much do you plan to spend on a house, and then what are your estimated annual expenses in retirement?
by mac808
Fri Mar 15, 2013 12:55 am
 
Forum: Personal Finance (Not Investing)
Topic: Do we have enough to retire?
Replies: 106
Views: 11983

Re: Start-up likely to get bought... exercise options now?

Normally I advise startup employees to sit on their options and never exercise them. The risk is too great relative to the reward (some tax savings). Given that the spread between exercise price and current value is greater in this case, this might be one of the rare exceptions. If you have a lot of...
by mac808
Wed Mar 06, 2013 8:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Start-up likely to get bought... exercise options now?
Replies: 10
Views: 1157

Re: Is Med School still a good financial investment?

it's better to work for 30 years @ $150k/year than spend 10 years in school (taking on loans) and then 20 years in the work force @ $300k/year. I haven't done the exact math but there's merit to that argument. I think you need to do the math. Programmer starts working at 22, while Med Student heads...
by mac808
Sat Mar 02, 2013 1:19 am
 
Forum: Personal Finance (Not Investing)
Topic: Is Med School still a good financial investment?
Replies: 123
Views: 7665

Re: Is Med School still a good financial investment?

I also like the idea of wshang that it's better to be making lower and continuous salary at a lower tax rate than a large income/large tax rate for a shorter period of time after accumulating a suitable amount of debt. I can't really believe I'm reading this. Making more money kind of trumps making...
by mac808
Fri Mar 01, 2013 11:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is Med School still a good financial investment?
Replies: 123
Views: 7665

Re: Is Med School still a good financial investment?

We see a lot of outsourcing in software, but the prices have risen to close the gap with what domestic programmers charge. Good offshore development is $30-$40/hour now. We would pay a premium for a native English speaker who understands context and works in the same time zone, up to $50-$60/hour. I...
by mac808
Fri Mar 01, 2013 9:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is Med School still a good financial investment?
Replies: 123
Views: 7665

Re: Is Med School still a good financial investment?

Thanks for following up with such a thoughtful and detailed reply. You're right: my reply was harsh. I had mistakenly assumed that you were speaking off the cuff, and not from direct experience. My bad! My primary issue is with your comparison of job stability between the two fields. Many software ...
by mac808
Thu Feb 28, 2013 7:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is Med School still a good financial investment?
Replies: 123
Views: 7665

Re: Is Med School still a good financial investment?

Med school sounds like a terrible financial investment for you. A decent CS grad pulls in $150k + stock options/benefits with the same job security as a physician, and a lot less stress. If you have an aptitude for programming, that's where I would focus. Your portrayal of the financial lives of pe...
by mac808
Thu Feb 28, 2013 12:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Is Med School still a good financial investment?
Replies: 123
Views: 7665

Re: Is Med School still a good financial investment?

Med school sounds like a terrible financial investment for you. A decent CS grad pulls in $150k + stock options/benefits with the same job security as a physician, and a lot less stress. If you have an aptitude for programming, that's where I would focus.
by mac808
Wed Feb 27, 2013 12:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is Med School still a good financial investment?
Replies: 123
Views: 7665

Re: Can a Frugal Boglehead date and marry a non Boglehead?

If she's living beyond her means, how's she paying the bills currently? Parents? Credit cards?
by mac808
Mon Feb 11, 2013 3:25 am
 
Forum: Personal Consumer Issues
Topic: Can a Frugal Boglehead date and marry a non Boglehead?
Replies: 34
Views: 4109
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