Search found 835 matches

by SpecialK22
Sun Oct 25, 2020 5:17 pm
Forum: Personal Investments
Topic: I bonds - Are they worth it to you?
Replies: 191
Views: 20194

Re: I bonds - Are they worth it to you?

I Bonds and EE Bonds are worth it to me for a portion of my fixed income allocation. I use I Bonds/TIPS to hedge inflation risk, the G Fund to hedge rising interest rates, and EE Bonds to hedge deflation. And I use all to hedge the more volatile nature of stocks and their sequence of returns risk. Expected higher returns for stocks are not the same as certain higher returns, but I still hold an 80/20 portfolio so am betting that stocks will outperform in the long run. I'm just not 100% certain.
by SpecialK22
Thu Apr 30, 2020 10:37 pm
Forum: Personal Finance (Not Investing)
Topic: Free Online MBA Worth It?
Replies: 22
Views: 1758

Re: Free Online MBA Worth It?

I did a (mostly) online MBA through a for-profit several years back. Similarly, it cost me nothing out of pocket as far as tuition, course materials and fees. Actually, with the GI Bill housing stipend and my then employer's additional incentives for master's degrees, I made a healthy five-figure profit off of being in school. You'd be correct in that it really is a poor choice for networking opportunities or signaling. However, only you know if that matters for what you are trying to do with it. In my line of work the pedigree of degrees or networking from them are unlikely to matter, and to this point the degree has neither helped nor hindered me especially. It's likely to stay that way too as I am far enough into my career that any educa...
by SpecialK22
Mon Apr 20, 2020 11:25 am
Forum: Investing - Theory, News & General
Topic: Well, I am market timing due to coronavirus... Wish me luck.
Replies: 1439
Views: 157451

Re: Well, I am market timing due to coronavirus... Wish me luck.

As the adage goes: time in the market is more important than timing the market. I’m very skeptical that there is any easily duplicated system out there that can consistently protect an investor during downturns while still maximizing gains. Still maximizing gains is definitely not the objective... At least, not in the way you stated. In Texas Hold 'em, you can maximize your possible gains by playing every hand down to its conclusion. The problem with this approach is that you also maximize the losses. Your goal is yo optimize your decisions so that the overall gain is the greatest. This implies accepting that you'll miss some gains, but you'll miss more than enough losses to more than make up for the gains one misses out on. Thank you for ...
by SpecialK22
Sun Apr 19, 2020 3:37 pm
Forum: Investing - Theory, News & General
Topic: Well, I am market timing due to coronavirus... Wish me luck.
Replies: 1439
Views: 157451

Re: Well, I am market timing due to coronavirus... Wish me luck.

B&H only guarantees that you'll experience all of the market's drawdowns as well. All roads carry risk. True, and I also mentioned that B&H fully exposes investors to downturns in my original post. If the long term trajectory of the stock markets are assumed to be up, then it’s more important to not miss the critical good times than to miss the bad times over an investing lifetime. Of course, an investor should only ever invest in equities the portion they are comfortable risking in that more volatile market. As the adage goes: time in the market is more important than timing the market. I’m very skeptical that there is any easily duplicated system out there that can consistently protect an investor during downturns while still max...
by SpecialK22
Sun Apr 19, 2020 12:27 pm
Forum: Investing - Theory, News & General
Topic: Well, I am market timing due to coronavirus... Wish me luck.
Replies: 1439
Views: 157451

Re: Well, I am market timing due to coronavirus... Wish me luck.

My understanding is that bull markets on average last longer and have significantly higher returns than bear markets have losses, more than double. That’s important because a 50% loss requires a 100% gain to get back to even. Therefore, wouldn’t B&H be the preferred strategy? It would be better to risk taking losses in a bear market than to risk missing out on the gains during a bull market. To mitigate such things as sequence of return risk or emotional distress caused by a declining portfolio, an appropriate equity/fixed income portfolio should be constructed and adhered to in both bull and bear markets. B&H guarantees that you won’t miss the upswings, whereas timing may allow the investor to miss downswings but also risks missing...
by SpecialK22
Wed Apr 01, 2020 8:28 am
Forum: Investing - Theory, News & General
Topic: What is your age/AA during this crisis?
Replies: 138
Views: 9148

Re: What is your age/AA during this crisis?

Late 30s. 80/20 - rebalancing to keep it at this. Single and plan on retiring mid-50s. Was low seven figure net worth, now just shy of seven figures. If it wasn't for a federal pension, reserve component pension, and social security supplement all beginning in my 50s I don't think I would be as aggressive. Probably would've been 65/35 or 60/40 if I was planning for mid-50s retirement solely on a portfolio.
by SpecialK22
Wed Feb 19, 2020 9:19 am
Forum: Personal Finance (Not Investing)
Topic: Entry-Level Jobs with Pensions - What companies still offer pensions these days?
Replies: 155
Views: 15804

Re: Entry-Level Jobs with Pensions - What companies still offer pensions these days?

Like many others have mentioned, I think pursuing a job solely for a pension isn't the most prudent idea for someone in their 20s. But planning for retirement definitely is and I think this is at the heart of the mom's advice. Taking maximum advantage of whatever retirement plan a company offers from the start is really the best advice I think, and certainly something to look at as part of total compensation. One thing to add about active military time is that it often can be bought back into other government pension plans. I know this is true for FERS and I believe most state and many local government plans allow the same. A huge plus is that a reservist/Guardsman can both have active duty time count towards a reserve component pension and...
by SpecialK22
Sun May 13, 2018 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Lucrative careers?
Replies: 467
Views: 61378

Re: Lucrative careers?

I think you're going about this backwards. Look for what jobs or combinations of jobs interest you, then figure out how to make six figures. If you have a talent and passion for what you do - and money is what drives you - making six figures shouldn't be too difficult. Certain career paths are easier than others for sure though. Some posters mentioned Federal jobs. They can definitely be lucrative but as noted can be hard to get. Although I'd imagine private sector jobs at top companies are more difficult. Back to Federal government jobs, a good way to get in is from military experience. Veterans' preference is huge in that regard as it basically gives the veteran priority. Even the military pays well these days, especially for commissioned...
by SpecialK22
Fri Mar 23, 2018 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Losing friends/family when wealthy
Replies: 118
Views: 15345

Re: Losing friends/family when wealthy

Could be a lot of factors at play and many are outside of your control. If you're not flashy or boastful about it then I see the problem more with others than you. I'm also a government worker and just based on that fact I've noticed some resentment from older relatives that are retirement age or retired. In certain political circles government workers are viewed as entitled and lazy with undeserved pensions. More than once I've had snide remarks directed against me because of the eligibility for a pension. Usually the worst prepared for retirement are the ones with the snarkiest comments. Somewhat similar circumstances with choosing to go the enlisted military route for job training/work experience rather than the bachelor's degree route a...
by SpecialK22
Thu Feb 22, 2018 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Military FIRE; 7 years to go & losing motivation--HELP!
Replies: 49
Views: 8092

Re: Military FIRE; 7 years to go & losing motivation--HELP!

There are two full time military jobs in the Reserves/National Guard that could fit your desires. 1. AGR - Active Guard Reservist, basically Title 10 or Title 32 active duty at a Guard/Reserve base with very similar pay/retirement as regular active duty, but at a Guard/Reserve base and less likely to TDY, or at least go TDY for shorter durations. More likely to no longer PCS. Relatively hard to find and get, as this is a highly sought after position. You would have to 7 years in this position to complete your retirement. 2. Federal Technician - Federal Government job during the week, possibly doing exactly what you do in the military, but paid hourly not militarily daily. Could be dual status with military performing military duty on weeke...
by SpecialK22
Thu Feb 22, 2018 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Military FIRE; 7 years to go & losing motivation--HELP!
Replies: 49
Views: 8092

Re: Military FIRE; 7 years to go & losing motivation--HELP!

Wow, you're doing very well and would definitely be set to FIRE in seven years. I did active duty Air Force and then went Air Guard, and I personally love the Guard side of the house. I'm a traditional Guardsman, but there is a program called Active Guard Reserve (AGR) which is essentially being active duty in a Guard or Reserve unit. I haven't done it myself but I know several people who came from active duty into those positions. It offers more stability in that you are assigned to that unit and never have to move. The downside is they usually aren't easy positions to get as they are rare, but the people in them seem to like it. I don't think you are alone in feeling burned out. I come on active duty orders frequently and many fellow SNCO...
by SpecialK22
Sat Jan 27, 2018 4:34 pm
Forum: Personal Investments
Topic: Opted into the new military retirement system/BRS
Replies: 61
Views: 8365

Re: Opted into the new military retirement system/BRS

Otherwise, for just about everyone else, I agree that it's impossible to predict that you're going to be the 1 out of 6 who cliff-vests in a military pension. In that case BRS makes a lot more sense. Ok, I gotcha. It's a playing the odds thing where even if a service member thinks he or she will stay in for twenty, more than likely it won't happen. One casual observation I've noticed with the Guard is that people tend to be better at predicting how long they'll stay. People that come in mostly for the college money are usually gone after one enlistment. Those that say they are staying at least 20 usually do. And then there are some that do 20 or more but have several breaks of service in between. It might have to do with the Guard being mu...
by SpecialK22
Fri Jan 26, 2018 1:25 pm
Forum: Personal Investments
Topic: Opted into the new military retirement system/BRS
Replies: 61
Views: 8365

Re: Opted into the new military retirement system/BRS

Nords wrote: Sun Jan 21, 2018 12:15 am Doctors like you (with active-duty obligations like that) are about the only servicemembers who could stick with High Three.
Would you please clarify this, especially from a Guard/Reserve standpoint? My general impression has been that those expecting to do 20 or more should stay legacy, and those expecting to do less than 20 should go BRS. That's the starting point when I've talked with people about it, but I do know many more factors may come into play. This is from an enlisted standpoint in a career field that is almost always understrength, so there is very little concern with being pushed out unwillingly before 20. Thanks!
by SpecialK22
Mon Dec 04, 2017 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: The College Bubble - investment opportunities after the collapse?
Replies: 114
Views: 12027

Re: The College Bubble - investment opportunities after the collapse?

Howdy If education in your view is overvalued, short it and go long on ignorance. Best of luck. Happy investing W B Yes; if you think studying Artificial Intelligence is overvalued, it’s much less expensive to study Natural Stupidity :D When it comes to these arguments it's not that education or learning is bad, it's that in some cases a traditional university education is overpriced and perhaps in a bubble. I confess I have a bias based on my career field. You can enlist to do my career field in the military for four years (well not anymore, it's five or six minimum depending on service); get paid to learn; get out and be eligible for direct/priority hiring through veteran's preference into a six-figure Federal Government job; and be able...
by SpecialK22
Sat Dec 02, 2017 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: The College Bubble - investment opportunities after the collapse?
Replies: 114
Views: 12027

Re: The College Bubble - investment opportunities after the collapse?

Like others mentioned, I'm not sure where investment opportunities are since traditional education in the US is generally non-profit. The rising costs do seem unsustainable, and I'm sure something will have to change. Anecdotally, in my line of work the college degree path is inferior to the enlisted (it's only an enlisted career, officers manage and don't receive practical training) military route from a financial standpoint. This of course depends on getting the right certifications and experience in the military, which depending on the service one joins may or may not be guaranteed. The college path seems to be dwindling with less schools offering the degree or only offering it as a minor. Likewise for some the college path is a backup s...
by SpecialK22
Tue Nov 28, 2017 3:44 pm
Forum: Personal Investments
Topic: 401k and TSP Limits - Blended Retirement System
Replies: 8
Views: 1466

Re: 401k and TSP Limits - Blended Retirement System

Wings5 wrote: Tue Nov 28, 2017 1:05 pm Guard salary: $30-45k
TSP: 5% or $1,500-$2,250
Gov match: 5% or $1,500-$2,250
Is that salary correct for a traditional guardsman? It could be if you frequently do ATPs or go on orders, but seems very high if you are a "one weekend a month, two weeks a year guardsman." If the match is only for UTAs and AT, the contributions + match will be much lower.
by SpecialK22
Sun Nov 26, 2017 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: The fallacy of spending money on "experiences" vs hard assets
Replies: 336
Views: 28626

Re: The fallacy of spending money on "experiences" vs hard assets

I personally believe that shared experiences are the best things to spend money on. Granted, there are many solo trips that I have done which were great. A big part of that though was meeting new people, so I guess it still comes down to shared experiences. There are consumption items that in hindsight I also consider good purchases. Mostly though it comes down to spending time with others that yields the most happiness for me, and therefore best value.

I do agree that there exists conspicuous consumption with traveling, or participating in any other experience. I think it's impossible to get away from that, and marketers certainly take advantage. But that doesn't mean you can't travel or participate in other activities for low cost.
by SpecialK22
Fri Sep 22, 2017 6:10 am
Forum: Personal Investments
Topic: Investing Advice - Military
Replies: 12
Views: 1527

Re: Investing Advice - Military

Welcome! I like the idea of focusing on maxing out as close to possible the Roth TSP/IRA while living off of taxable. The military compensation structure strongly favors Roth because taxable income is generally kept low. I'd take a guess that for a civilian job to match your compensation they would probably need to pay you $55-$60k. Should the need arise you can withdraw Roth IRA contributions at any time, so you really need to have very little in taxable. This is especially true since you have a steady paycheck in the military and are in a career field unlikely to downsize any time in the near future (1B4?). Personally, I would not opt for the BRS unless you are very sure that you will break all ties with the military before reaching at le...
by SpecialK22
Wed Aug 09, 2017 10:55 pm
Forum: Personal Investments
Topic: Separating from the Military
Replies: 4
Views: 982

Re: Separating from the Military

Great start on the financial side! With your wife making $80k a year and you using the post 9/11 GI Bill, you'll definitely be able to save aggressively for a down payment and then some even accounting for NYC costs. You would also be eligible for a 0% down VA loan if you so choose. If you go the down payment route though I'd target keeping at least $60,000 in cash/cash equivalents. That way you have enough for a 20% down payment up to $300k. I'm not sure what branch you are in, but I'd strongly consider looking at continuing in the Guard/Reserves. I did one enlistment active USAF and then went to the ANG. Air Guard is a good deal different (better IMHO) than active duty and there are numerous benefits. Some basic benefits include continuin...
by SpecialK22
Sun Aug 06, 2017 9:30 am
Forum: Personal Investments
Topic: Do I have enough to retire-retire from the military
Replies: 42
Views: 6457

Re: Do I have enough to retire-retire from the military

Just back of the envelope, but I think you're looking good.

$57,000 inflation adjusted pension + $45,000 (3% of 1,500,000) = $102,000

You'll have retiree healthcare immediately upon retirement. Quick search says the cost for a family plan is just $555.84 per year.

If you still have the Post 9/11 GI Bill that'll offset some of the future college costs. Shouldn't be too difficult to cash flow the rest.

Social Security will kick in down the line as well to add to income.
by SpecialK22
Mon Jun 26, 2017 4:32 am
Forum: Personal Investments
Topic: Another Roth vs. Traditional debate, but for high-income Feds
Replies: 15
Views: 3014

Re: Another Roth vs. Traditional debate, but for high-income Feds

I prioritize Roth accounts for the forecasted reasons that your presenters currently live. I'm in the 28% tax bracket and the combination of FERS Special, a Reserve component pension, and SS Supplement will by themselves put me firmly in the 28% bracket immediately on retirement in my mid-50s. Down the line I may switch to traditional. For example, if I transfer to a high COLA part of the country which pushes my Federal rate to 33% with higher state and locality taxes to boot.

I still believe the biggest part is just consistently saving. It's often only in hindsight that it becomes clear whether traditional or Roth was the better option. You can interject about any reason that one will work better than the other in planning though.
by SpecialK22
Thu May 18, 2017 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Learning how to spend
Replies: 27
Views: 3951

Re: Learning how to spend

Thank you all for the responses and great suggestions. Finding the balance seems to be getting harder as I am definitely beginning to feel the wealth effect kicking in (I know there are many on this board doing much better than me though :wink: ). Maybe I just need a recession to bring me back to reality 8-) My more rational side says continuing to save so aggressively isn't striking a good balance between saving and spending, but my emotional side is so tied to saving that it associates it with my identity. The problem is that loosening the purse strings would definitely make me seem like a spendthrift to many in my peer group. And since I associate spendthrift behavior as a character flaw, I naturally cringe at being labeled in such a way...
by SpecialK22
Thu May 18, 2017 2:02 am
Forum: Personal Finance (Not Investing)
Topic: Learning how to spend
Replies: 27
Views: 3951

Learning how to spend

Warning: Emotional Post Since a major part of my identity is that of a saver, I've been wrestling with the fact that I may be oversaving. Wealth effect may also be playing a role as my aggressive saving started in 2008. As such I never really felt the pain of the bear market. It just seemed like my net worth stayed flat with some small increases or decreases. Then March 2009 hit and it's felt like my net worth has only increased quickly since then with the occasional hiccup along the way. Nothing that has made me feel panicked yet. Just a quick background: Age: mid-thirties Income: Low six figures Employment: Very stable. Career level federal employee and Air National Guardsman. Liquid assets: High six figures (about half of that amount is ...
by SpecialK22
Wed Apr 26, 2017 6:38 am
Forum: Personal Investments
Topic: Fed and newbie boglehead seeking portfolio advice
Replies: 17
Views: 2377

Re: Fed and newbie boglehead seeking portfolio advice

johnnyringo wrote:
21&lewis wrote:OP, How are you planning to retire as a fed (FERS) @ 50? Are you under a special provision (e.g.; law enforcement, firefighter, etc)? ...
You're correct, I'm under a special provision that allows full retirement at 50 with at least 20 years of service
How are you able to stay until 60? I thought all careers under special retirement coverage had a mandatory retirement age of 56-57. Just genuinely curious how that might work. Are you planning to take a different position to make it to 60?
by SpecialK22
Fri Apr 21, 2017 12:11 am
Forum: Personal Finance (Not Investing)
Topic: College Tuition Waivers and the National Guard
Replies: 2
Views: 748

Re: College Tuition Waivers and the National Guard

Did four years active Air Force then switched to the ANG. Education and healthcare are two things that the military does a good job of providing. As those two areas have been some of the fastest increasing costs for most of the population, I think military service has increasingly become a good financial deal. On top of that I think college has become a glorified trade school in several circumstances. Take for example my career field. It's an enlisted career field as far as the military is concerned, but some expensive private/public schools provide bachelor's degrees in it. Considering the military provides paid for job training, that can provide another massive benefit. You do have to be careful with the military though because some train...
by SpecialK22
Tue Mar 07, 2017 4:47 pm
Forum: Personal Investments
Topic: roth vs traditional 401k
Replies: 16
Views: 2012

Re: roth vs traditional 401k

I'm in similar situation and have chosen Roth for two main reasons:

1.) I max out the full $23,500 (Roth 401k + Roth IRA) a year. A Roth allows me to tax shelter a larger amount.

2.) Right now paying the taxes does not present any financial hardship for me. It's a behavioral hedge against a possible future tax situation that might cause a hardship.

Most likely my pensions plus social security supplement/social security will push me firmly into the same tax bracket that I am in now. There are certainly reasonable scenarios where I will be in a lower or higher tax bracket in retirement. I'm still about 20 years from retirement, so it's too difficult to make a completely accurate forecast.
by SpecialK22
Tue Feb 21, 2017 7:36 am
Forum: Personal Finance (Not Investing)
Topic: What are the big things to get right?
Replies: 91
Views: 16758

Re: What are the big things to get right?

This is from the perspective of a millennial. But there's some of us here. The big things to get right: 1. House 2. Student loans 3. Cars Everything else is inconsequential. And saving a latte a day won't make up for the +$1000/month in car payments. The McMansion mortgage. Or the mega student loans because you went to a private school and didn't know what you wanted to do for the first 4 years of your higher education stint. Haha...as someone in the same generation I have similar sentiments and agree with your three things to get right. For some reason avoiding the daily latte and brown bagging lunch has become the proxy for good personal money management. There's certainly nothing wrong with doing either and little expenses add up, but t...
by SpecialK22
Sat Feb 18, 2017 2:08 am
Forum: Personal Finance (Not Investing)
Topic: "With $15 Left in the Bank, a Baby Boomer Makes Peace With Less" -- A cautionary tale
Replies: 37
Views: 7106

Re: "With $15 Left in the Bank, a Baby Boomer Makes Peace With Less" -- A cautionary tale

Interesting. I'm either a late Gen X or early Millennial depending on how it's defined, but I wonder how my generation will end up in middle age. Overpaying for college seems to be a major problem for many in my generation, but I admit that might just be anecdotal. It also reflects my own biases. Little expenditures add up, but it seems pale compared to spending late teens/early twenties effectively unemployed and racking up non-dischargeable debt. All for what is little more than an overpriced trade school.
by SpecialK22
Sun Jan 15, 2017 12:45 pm
Forum: Investing - Theory, News & General
Topic: Shouldn't everyone do a traditional IRA/401k instead of a Roth?
Replies: 132
Views: 11519

Re: Shouldn't everyone do a traditional IRA/401k instead of a Roth?

SpecialK22, A) Please note that by going 100% to Roth, you cannot afford to be wrong. You cannot get the money back from IRS. The decision could be disastrous. Why would you place your bet on (A)? If you are right, you save some tax. If you are wrong, it is disastrous. Can you please elaborate on it being disastrous, or are you using "disastrous" as a hyperbole? While I am healthy, it is possible that my health could take a drastic turn for the worse. I would be medically retired from the federal government which would lead to a smaller retirement paycheck. It's also possible that there could be radical changes to pensions/social security that affect me. These events could certainly create a tax situation where it would have been...
by SpecialK22
Sun Jan 15, 2017 9:02 am
Forum: Investing - Theory, News & General
Topic: Shouldn't everyone do a traditional IRA/401k instead of a Roth?
Replies: 132
Views: 11519

Re: Shouldn't everyone do a traditional IRA/401k instead of a Roth?

Those who have a pension and are early in their careers might reasonably be expected to have more income in retirement than they do now. While I'm not early in my career, I'm still a couple of decades away from retiring in my 50s. I'm still expecting some decent career progression between now and retirement. The combination of a federal pension, military reserve component pension, and social security supplement should be more than I make currently. This of course assumes at least average career progression, current retirement programs remain largely the same, and no major health issues between now and retirement. Roth 100% for me.
by SpecialK22
Thu Jan 12, 2017 5:39 am
Forum: Personal Finance (Not Investing)
Topic: Best Financial Moves You've Made
Replies: 158
Views: 27720

Re: Best Financial Moves You've Made

Avoided overpaying, particularly taking on large debt, for three things:

Education
Cars
Homes

There is generally strong societal pressure to spend lavishly in these three categories. They are also some of the easiest products to get financed.
by SpecialK22
Wed Oct 12, 2016 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: [Any Advice for trying to get a government job?]
Replies: 5
Views: 1021

Re: [Any Advice for trying to get a government job?]

Veterans' preference points along with applicable job training were huge factors for me getting hired by the Federal Government. Obviously, joining the military is a large commitment but I think it's the surest path to federal employment. The last general bid for my career field was open for a week and got about 29,000 applications for roughly 1,800 openings. Veterans' preference allows someone to skip some of the initial culling, and veterans' preference with sufficient experience allows someone to apply to a completely different bid where being hired is highly probable and more streamlined. A few of my friends that majored in engineering went to work for the patent office immediately after graduating college. I think they started at GS-12...
by SpecialK22
Mon Oct 10, 2016 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Crossing the line (becoming a miser)
Replies: 71
Views: 13339

Re: Crossing the line (becoming a miser)

Nova1967 wrote:Expensive beer has just as many calories as cheap beer


My argument isn't that a miser replaces food calories with cheap beer rather than expensive beer. My argument is that miserly behavior is to largely disregard health to save money.
Nova1967 wrote:not all fast food is bad, you can go to subway
1.) Subway is likely to be more expensive than making your own sandwich. I was referencing something more like the dollar menu.
2.) Most of what Subway sells I do not consider all that healthy.

It's not inherently bad to eat fast food. Where it becomes bad is when it becomes a staple because it is less expensive than more nutritious meals, even though you can easily afford better meals.
by SpecialK22
Mon Oct 10, 2016 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Crossing the line (becoming a miser)
Replies: 71
Views: 13339

Re: Crossing the line (becoming a miser)

From my perspective, here are two prime examples that I've seen that I would consider miserly:

Missing your ten year old daughter's birthday to work overtime for the time-and-a-half pay. Someone else is willing to work it for you, and you don't particularly need the money. Your mindset is that acquiring wealth trumps any relationship.

Having a very unhealthy diet because it is less expensive than eating healthy. Fast food deals are your primary diet. Cheap beer is also a major source of calories, often replacing meals. Your mindset is that saving money trumps health.
by SpecialK22
Tue Sep 27, 2016 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Net Worth Milestone Today - $1.5M
Replies: 128
Views: 24636

Re: Net Worth Milestone Today - $1.5M

Congratulations Meg! This is more directed at the detractors: I think one of the benefits of this board is the ability to openly discuss one's personal finances. Even if nothing is "actionable"--I personally don't feel that about her post--this board still provides an outlet for emotional concerns surrounding money. The problem with the boglehead approach is that it is so successful especially when starting from a young age :D Whereas a good number of thirty-somethings I know are just beginning to focus on saving for the future and retirement, she and her husband are closing in on financial independence. It can sometimes lead to a feeling of being disconnected from peers. This board can help with trying to feel better connected fr...
by SpecialK22
Tue Aug 02, 2016 5:18 am
Forum: Personal Consumer Issues
Topic: Vacation loans
Replies: 37
Views: 6069

Re: Vacation loans

This sounds like a marketing twist on a personal loan--kind of push towards certain consumers for why they might need a personal loan. Taking a loan to go on vacation falls into the same category as getting an MBA from an unaccredited online school... the consumer's heart is in the right place, but the choice is misguided. A shyster is preying on the intrepid consumer's noble aspirations, and playing them against his reason. It is understandable to want to see the world, just as it is understandable to want to better oneself and get an MBA. But there is a right way to do it (the hard, but smart way), and a wrong way to do it (the easy, but incredibly stupid way). Education is by far the craziest main stream product sold in America. I attend...
by SpecialK22
Wed Jul 06, 2016 1:51 am
Forum: Personal Finance (Not Investing)
Topic: Money vs. Happiness
Replies: 94
Views: 16733

Re: Money vs. Happiness

I think most everyone struggles with finding the balance between career/money and relationships. Since you seem to be finding yourself more dissatisfied with your situation, it might be time to leave. At 30 with around $220k and the ability to find work for $100k+ in an area that you want to live is still a very good financial situation to be in. Sucking up a bad career situation is only worth it if you have a specific goal in mind or can see the light at the end of the tunnel.
by SpecialK22
Thu May 26, 2016 10:59 am
Forum: Investing - Theory, News & General
Topic: Can I just let my money compound now?
Replies: 51
Views: 7982

Re: Can I just let my money compound now?

anything's possible, but I wouldn't bet on it. If you put it all in equities and get a fortuitous 7% real for the next 40 years, you'd have $1.5 million in purchasing power at age 65. That'd certainly be enough. And that is the historic return of the S&P, give or take... Are you sure you're accounting for inflation properly? I bought a new car for $3500 in 1975 and a different new car for $50,000 forty years later (2015/16). Call that a factor of 14. So my new car in 2055 will cost $700,000 out of that extrapolated $1.5 million nest egg. I'm not sure that works for most people... I think there is a disconnect between real and nominal terms. Letsgobobby is describing his hypothetical sum in terms of purchasing power today, while your ca...
by SpecialK22
Fri May 06, 2016 4:26 am
Forum: Investing - Theory, News & General
Topic: Numeracy and Wealth
Replies: 44
Views: 8436

Re: Numeracy and Wealth

Since the language of money is math, it seems intuitive that numeracy would play a large role in determining those best at accumulating it. Personally, I'm around average when it comes to mathematical concepts (I have the standardized test scores to back it up). That's why I like indexing so much, it's mathematically very easy to understand compared to, say, financial engineering.
by SpecialK22
Thu May 05, 2016 7:12 am
Forum: Personal Consumer Issues
Topic: Peculiar Airline Pricing
Replies: 22
Views: 4749

Re: Peculiar Airline Pricing

Throwaway ticketing is against most or all airlines' conditions of carriage. Will they likely come after you if it isn't a clear trend? Probably not.
by SpecialK22
Tue Nov 24, 2015 10:15 am
Forum: Personal Finance (Not Investing)
Topic: PhD Mechanical Engineer --> Law School?
Replies: 47
Views: 6880

Re: PhD Mechanical Engineer --> Law School?

Guest9876 wrote: Second, there are Patent and Trademark Office jobs that are also no-JD required that can pay quite well for gov't.
Originally, I was going to come in here and suggest this path also. A couple of friends went this route after finishing their engineering degrees. Good salary and benefits with a seemingly great work life balance. Additionally, I believe the government will pay for them to go to law school. However, one friend described his job as "finding a way to reject (insert quota) patent applications per week." Especially after reading the OP's latest post, it seems that this job might be the opposite of what is being sought. Nevertheless, I have no direct experience so it still might be something to investigate.
by SpecialK22
Sun Oct 11, 2015 10:17 pm
Forum: Personal Consumer Issues
Topic: Thinking of quitting job for a year of travel
Replies: 59
Views: 7941

Re: Thinking of quitting job for a year of travel

I'd say go for it! It sounds like the time off shouldn't have a major negative effect on your career, and you will probably end up having lived a more enriched life. A thought problem which might help with the decision: If after your travels you would have no recollection of having gone, would you still go? This isn't an original thought of mine, and it's based off of the hypothesis that people are very bad beforehand at determining what makes them happy. Just another angle to approach the question from if you choose.
by SpecialK22
Sun Oct 11, 2015 9:53 pm
Forum: Personal Investments
Topic: To pay for [children's] college education? Or not ...
Replies: 206
Views: 24421

Re: To pay for [chidren's] college education? Or not ...

For the OP, this certainly isn't an either or decision and keep in mind money is fungible. However, if looking at it through option A and option B, I would personally see option A as the more beneficial choice. Being debt free when starting out in life allows for a great deal of freedom and alleviates a major stress factor. By their 40s your children should be well established in their careers. While a windfall I'm sure would not be unwelcome then, I don't think it would have the same emotional benefit that not carrying large debt early in their working years would.
by SpecialK22
Tue Sep 29, 2015 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Is private high school "worth it"?
Replies: 130
Views: 13237

Re: Is private high school "worth it"?

I (and most of my siblings) attended Catholic schools from K-12 despite living in a very good school district. My parents are deeply religious, so that was the main factor in them wanting to send us to Catholic schools. Even though I went to a parochial school from K-8, I think only five or so of my classmates also went to the same Catholic high school that I did. The rest of my high school class was made up of kids from other parochial schools and various public schools within about a 30 mile radius of the high school. I don't believe transitioning was harder/easier for any particular background. We also didn't wear uniforms in high school, but there was a dress code. The Catholic high school really pushed going to college. In my graduatin...
by SpecialK22
Mon Sep 14, 2015 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: Future Government Pension
Replies: 9
Views: 2826

Re: Future Government Pension

Probably the greatest risk to the pension would be getting contracted out. Even the union isn't 100% against the idea; however, the only option they will entertain is a non-profit option where benefits remain intact. I'd guess that a pension of some sort will still exist in 25 years. Making it through the Academy (if you have to go) and training at your first facility should be what you are most concerned with right now. Good luck!
by SpecialK22
Mon Sep 07, 2015 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Question for the Bogleheads Millionaires
Replies: 372
Views: 76983

Re: Question for the Bogleheads Millionaires

FedGuy wrote:
SpecialK22 wrote:From posts here it makes it seem to be a lawyer with a virtually guaranteed route to big law you need to go to Harvard, Yale, or Princeton for your JD.
I've been a lawyer for a long time now, and have never met anyone with a JD from Princeton.
Yeah, that's my mistake. I meant Stanford and not Princeton.
by SpecialK22
Sun Sep 06, 2015 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Question for the Bogleheads Millionaires
Replies: 372
Views: 76983

Re: Question for the Bogleheads Millionaires

market timer wrote:It's straightforward in the US to get a $150K+/year job with the right education. That's a typical starting salary for someone from a good JD or MBA program or any med school. You don't need to be particularly creative or even a very productive employee to earn that kind of salary.
True, but don't these careers have very high barriers to entry? From posts here it makes it seem to be a lawyer with a virtually guaranteed route to big law you need to go to Harvard, Yale, or Princeton for your JD. The pedigree for medical school doesn't seem to matter as much, but I never thought of medical school as being something easy to get into. Both routes are also expensive and relatively lengthy.
by SpecialK22
Mon Jul 27, 2015 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Job with TSP + pension vs 401k 12% cash match
Replies: 16
Views: 2757

Re: Job with TSP + pension vs 401k 12% cash match

It seems you're most concerned with the retirement benefits package each job offers, so if you break it down through contributions you get this: Federal Job Paid by the employee: TSP 5% Regular FERS FRAE 4.4% Paid by the employer: TSP match 5% Regular FERS FRAE 11.1% Healthcare benefits in retirement: YES Total: 25.5% of which approx. 37% is paid by the employee and 63% by the employer Non-Federal Job Paid by the employee: 401k 12% Paid by the employer: 401k match 12% Healthcare benefits in retirement: NO Total: 24% of which 50% is paid for by the employee and 50% by the employer That's a very simple breakdown and ignores other elements like: The differences in investment risk between a defined contribution plan and a defined benefit plan 4...
by SpecialK22
Tue Jul 21, 2015 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Military career or Top MBA
Replies: 37
Views: 6927

Re: Military career or Top MBA

I'd agree that being an IMA is probably your best option to continue service while carrying on a busy personal and professional life, especially as an officer. Even though the regular reserves can be flexible, as an officer a lot more would be expected of you since you would be put in a leadership role. Depending on what career field/service you are in, things are still as busy as ever. Well, perhaps not as busy as during the surge in Iraq. My understanding of an IMA is that you drill only when it is convenient for you, you're not in charge of people (or very few people), and deployments are largely voluntary. I could have a rosier picture of it than what it really is though. Edit: Got my acronyms mixed up. :oops: Meant IMA (Individual Mobi...
by SpecialK22
Thu Jul 02, 2015 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Defending Public Safety Employees' Retirement Act
Replies: 8
Views: 3263

Re: Defending Public Safety Employees' Retirement Act

It's "50 is the new 55." Everybody gets an exception to the penalty in the case of distributions from a work retirement plan after separation from service with that employer, when the separation occurs in (or after) the year in which you reach age 55. "Public safety employees" (meaning "any employee of a State or political subdivision of a State who provides police protection, firefighting services, or emergency medical services for any area within the jurisdiction of such State or political subdivision") have long had an exception, where they get to use age 50 instead of 55 with regard to the rule discussed above. The new law applies that same exception to federal public safety employees as well. Good point, ...