Search found 1086 matches

by goodenyou
Sun Dec 10, 2017 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: Does this happen to you? Educating friends about personal finance
Replies: 104
Views: 5798

Re: Does this happen to you? Educating friends about personal finance

The willingness for someone to absorb and act on your advice depends on their desire to take charge of their financial future. It would be analogous to the activation energy required to start a chemical reaction. Most are not willing to put in the effort that they believe is required to take respons...
by goodenyou
Fri Dec 08, 2017 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: At what age your investments start making more money than you?
Replies: 107
Views: 7305

Re: At what age your investments start making more money than you?

Probably this year. It will be close. 60 (stocks)/30 (bonds) /10 (cash). My wife has a new high-paying job. 52 yo.
by goodenyou
Fri Dec 01, 2017 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Any retired boglehead doctors out there?
Replies: 78
Views: 9508

Re: Any retired boglehead doctors out there?

The ability to retire early as well as the propensity to burnout appears to be dependent on the age and number of dependents in the household. Physicians usually start families later thus have college age children well into their late 50s and 60s. Would have retired years ago if not for dependent (e...
by goodenyou
Thu Nov 30, 2017 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Using cash instead of 529 make any sense with siblings left?
Replies: 3
Views: 436

Re: Using cash instead of 529 make any sense with siblings left?

If you pay some cash, then there is the American Opportunity Tax Credit available: Pay $4,000 of tuition and get $2,500 back, net cost only $1,500. I think you will find that is better than any taxes you save with a 529 plan. We never paid in a lump sum, since most all colleges have a monthly payme...
by goodenyou
Tue Nov 28, 2017 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Should we buy term life insurance?
Replies: 20
Views: 1866

Re: Should we buy term life insurance?

I would. Don't underestimate cash burn during teenage/college years. It is tremendous. The cost for a $2 million policy for 20 years is about $140/month. It is proportional for a fraction of that. Well worth it. May consider a split of policies between parents if both are income earning.
by goodenyou
Wed Nov 22, 2017 4:55 pm
Forum: Investing - Theory, News & General
Topic: Have I put too much into the 529 plan?
Replies: 52
Views: 11844

Re: Have I put too much into the 529 plan?

TSquare wrote:
Wed Nov 22, 2017 4:26 pm
The dollar amounts being tossed around this post are eye rolling, and indeed are "first world problems". Sheesh.

-tsquare
Some people here make a lot of money and are very rich. Some are not. The circumstances can differ greatly.
by goodenyou
Sat Nov 18, 2017 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Physician(s) changing Jobs - Advice
Replies: 25
Views: 4097

Re: Physician(s) changing Jobs - Advice

It depends on how much you value your autonomy. Having to answer to a bureaucracy while practicing medicine would be intolerable to me. Part or the reason I went into medicine is to be my own boss. Taking that away and leaving the current atmosphere of the politics of medicine and the general attitu...
by goodenyou
Thu Nov 16, 2017 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Fair way to split expenses?
Replies: 105
Views: 4800

Re: Fair way to split expenses?

The response to this thread appears to be dependent on whether you are in a first or second marriage (or third and greater) and with children from previous marriages. Commingling finances can get complicated in those situations. It is probably more important to be on the same page with spending and ...
by goodenyou
Thu Nov 16, 2017 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Fair way to split expenses?
Replies: 105
Views: 4800

Re: Fair way to split expenses?

One pot of money here. Whatever works for you. I just don't understand how keeping score works. If we kept score, we would end up splitting assets and not expenses.
by goodenyou
Wed Nov 15, 2017 9:44 am
Forum: Investing - Help with Personal Investments
Topic: Why pay cash for a car?
Replies: 179
Views: 15231

Re: Why pay cash for a car?

I can understand paying off a mortgage, because rates are higher than car loans. And you wouldnt take a new loan out to invest in the market now. I am saving cash for my next car purchse. But why? Car loans are cheap. My current car is paid off and i like being debt free. Is that the best method? F...
by goodenyou
Mon Nov 13, 2017 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: FAFSA EFC number shock! [Expected Family Contribution]
Replies: 39
Views: 4233

Re: FAFSA EFC number shock! [Expected Family Contribution]

The middle class squeeze is ruining a generation of students who foolishly amass mountains of educational debt. The prestigious university degree invariably loses a lot of luster once the debt has to be paid. Expensive college regret is pervasive. A pragmatic approach to education that has utility i...
by goodenyou
Sat Nov 11, 2017 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: FAFSA EFC number shock! [Expected Family Contribution]
Replies: 39
Views: 4233

Re: FAFSA EFC number shock!

Grt2bOutdoors wrote:
Fri Nov 10, 2017 5:59 pm
Am not surprised, my neighbor filled it out even though knew they would get zero help. Sure enough, EFC said 99,999+. :shock:
The good news is that.... all-in it's only about $70k for most private schools. I didn't even fill it out.
by goodenyou
Thu Nov 09, 2017 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Did you tell anyone you paid off your mortgage?
Replies: 338
Views: 37774

Re: Did you tell anyone you paid off your mortgage?

Conspicuous savings is as obnoxious as conspicuous consumption. Come to think of it, anything used to advertise in order to promote one's prestige is obnoxious.
by goodenyou
Wed Nov 08, 2017 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Did you tell anyone you paid off your mortgage?
Replies: 338
Views: 37774

Re: Did you tell anyone you paid off your mortgage?

Resurrecting old thread.. I'm about to drop the payoff check for my mortgage in the mail. It took me a little over 19 years to reach this point. I was honestly considering a FB post to brag a little but leave it to the wisdom of forum to suggest otherwise... I think I'll limit the news to a few clo...
by goodenyou
Mon Nov 06, 2017 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Out of network care
Replies: 86
Views: 5278

Re: Out of network care

Interesting. I would have thought they would be more interested in potential fraud. Many insurance companies now have special investigations units to search for fraud. They even call their insured patients and ask them if their doctor waives their copays (insurance fraud). They also scrutinize out ...
by goodenyou
Mon Nov 06, 2017 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Out of network care
Replies: 86
Views: 5278

Re: Out of network care

I don't understand what your concern is about "making money in the healthcare industry". Your doctor goes to work every day for the same reason you do. Of course he/she is trying to figure out how to get paid by the insurance company and avoid denials. I think Bogleheads would agree that working fo...
by goodenyou
Mon Nov 06, 2017 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Why make more money?
Replies: 134
Views: 13240

Re: Why make more money?

Earned income takes some of the uncertainty out of having to meet financial needs from investing. For some, it may be the lesser of two evils. Legacy is an important reason for me. I would like to be able to help my children and gift my future grandchildren their education expenses.
by goodenyou
Sat Nov 04, 2017 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Out of network care
Replies: 86
Views: 5278

Re: Out of network care

Patients get angry at us when they find out what's in their policy after the fact . This anger should be directed either at themselves (for not understanding or following the policy) or at the insurance company if it misled them. You need to know the rules to successfully play the game. Try telling...
by goodenyou
Sat Nov 04, 2017 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Out of network care
Replies: 86
Views: 5278

Re: Out of network care

Pajamas wrote: Over the past couple of years, I have had to take a web of complaints to the state department of health because of lack of follow-through on internal complaints I made to my current plan. This was just to get them to charge the correct co-pays as outlined in the subscriber contract an...
by goodenyou
Thu Nov 02, 2017 1:40 pm
Forum: Personal Consumer Issues
Topic: Warning Buffet Indicator?!?
Replies: 31
Views: 2563

Re: Warning Buffet Indicator?!?

I was at a Chinese buffet many years ago and the owner/chef (Chinese man) came storming out of the kitchen yelling at an obese man (who had been eating from the buffet for hours)..."HEY YOU Fatso..get out of my restaurant..you eat all my profit." It was actually a funny scene. I don't do buffets any...
by goodenyou
Thu Nov 02, 2017 1:21 pm
Forum: Personal Consumer Issues
Topic: Do you Mow your own Lawn?
Replies: 90
Views: 3037

Re: Do you Mow your own Lawn?

Nope. You wouldn't either where I live. It is 100+ degrees for 6 months and in the 80s when the grass doesn't grow. Don't clean my house, pool or do laundry either. I pay for all those services.
by goodenyou
Wed Nov 01, 2017 10:56 am
Forum: Investing - Help with Personal Investments
Topic: Best 529 Plan for Texas residents
Replies: 4
Views: 355

Re: Best 529 Plan for Texas residents

Texas resident here. Utah 529 Plan for past 18 years. No complaints. Starting using it last year.
by goodenyou
Fri Oct 27, 2017 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Let's talk about your FI # and family income [Financial Independence]
Replies: 183
Views: 20302

Re: Let's talk about your FI # and family income [Financial Independence]

It would be interesting to know how many people currently live on several multiples of their pre-retirement target. Several articles have been written about needing up to 80% of pre-retirement income, but in this cohort of BH, it appears that high income people save a lot to get to FI and reduce the...
by goodenyou
Fri Oct 27, 2017 10:05 am
Forum: Personal Finance (Not Investing)
Topic: "Morningstar names best 529 college savings plans for 2017"
Replies: 17
Views: 2521

Re: "Morningstar names best 529 college savings plans for 2017"

Thanks Taylor. Utah here for many years. The balance is going down now for the right reasons. :D
by goodenyou
Thu Oct 26, 2017 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Do you include the capitalized value of Social Security in your asset allocation?
Replies: 32
Views: 2043

Re: Do you include the capitalized value of Social Security in your asset allocation?

I need to see it to believe it. Not sure it will there in the the amount that has been promised to date. I don't include it at all since I have no control of the political forces that are capable of derailing it. Therefore, I do not. Nor do I include it in my plans to determine my retirement date. I...
by goodenyou
Thu Oct 26, 2017 11:00 am
Forum: Personal Finance (Not Investing)
Topic: avoiding sequence of returns risk?
Replies: 39
Views: 2868

Re: avoiding sequence of returns risk?

OP, I plan for a recession lasting 5 years. If the recession lasts longer than that, money is the least of our problems. <<Hi - newbie here. I'm planning to retire at 55, in 2 years.>> Normally, you should have at least 25 times your retirement expense when you retire. To have 5 years in fixed inco...
by goodenyou
Thu Oct 26, 2017 9:02 am
Forum: Investing - Theory, News & General
Topic: Emotional impact of spending down assets?
Replies: 100
Views: 10178

Re: Emotional impact of spending down assets?

Very thought provoking thread. I think I've come to terms with watching my life savings dwindle as I approach the end of the line. On a lighter note: My lawyer friend Larry says his goal is to die a million dollars in debt. That way he will have gotten a million more dollars out of life than he put...
by goodenyou
Wed Oct 25, 2017 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: avoiding sequence of returns risk?
Replies: 39
Views: 2868

Re: avoiding sequence of returns risk?

OP, I plan for a recession lasting 5 years. If the recession lasts longer than that, money is the least of our problems. <<Hi - newbie here. I'm planning to retire at 55, in 2 years.>> Normally, you should have at least 25 times your retirement expense when you retire. To have 5 years in fixed inco...
by goodenyou
Wed Oct 25, 2017 9:04 am
Forum: Personal Finance (Not Investing)
Topic: avoiding sequence of returns risk?
Replies: 39
Views: 2868

Re: avoiding sequence of returns risk?

If you retire young (mid 50's), I would not discount staying healthy and open-minded about re-entering the workforce as a hedge against a sequence of bad returns. We often dismiss this as an option. Earned income could be considered an asset class that protects against a sequence of returns risk. No...
by goodenyou
Mon Oct 23, 2017 9:46 pm
Forum: Investing - Theory, News & General
Topic: Building very high net worth
Replies: 81
Views: 8493

Re: Building very high net worth

Building a high net worth can be achieved through patience. If you have a high salary, and you are a saver, you can get to 8-figures without undue risk. Trying to get to 8 figures without a high salary in a stable job requires more risk. Trying to do it with leverage can result in disaster.
by goodenyou
Sun Oct 22, 2017 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for medical school for son?
Replies: 79
Views: 5231

Re: Paying for medical school for son?

I read many posts but not all. I understand why people would like to take care of the costs for their child's education. A very honorable thing to do. One of the things I did not see addressed (maybe I missed it?) was the value of learning to pay back loans. If a child's education/costs are provide...
by goodenyou
Sun Oct 22, 2017 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Does anyone here with net worths north of $1 mil use financial advisors?
Replies: 175
Views: 18368

Re: Does anyone here with net worths north of $1 mil use financial advisors?

No. There is no need. I don't think there is a significant strategy change for 1-10 million. Beyond that, I would suspect that estate planning and other complex issues make come into play.
by goodenyou
Sat Oct 21, 2017 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for medical school for son?
Replies: 79
Views: 5231

Re: Paying for medical school for son?

If you can afford to pay for it, and you want to pay for, go for it. If he doesn't have crushing debt like many medical students, he may not feel compelled to choose a specialty based on income potential. He may also not feel the pressure to like a certain specialty or the need to be at the top of t...
by goodenyou
Sat Oct 21, 2017 9:52 am
Forum: Investing - Help with Personal Investments
Topic: Where to park $100,000 safely for 2-3 years?
Replies: 17
Views: 2704

Re: Where to park $100,000 safely for 2-3 years?

With such low interest rates and short period of time, it is not going to make much of a difference. The few basis points difference combined with the taxes you will have to pay on the (small) gains won't amount to much after it is all said and done. I would put it in a savings account or MMF.
by goodenyou
Sat Oct 21, 2017 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Better than 4% Rule
Replies: 40
Views: 5333

Re: Better than 4% Rule

I would imagine that 4% is a ceiling and not a floor. While I am planning on 4% as a goal, my strategy is truly a modulated withdrawal rate. I wonder if anyone has looked at behavior during a sequence of bad returns. I would bet that most find a way to reduce their withdrawal rate. That’s why it is ...
by goodenyou
Fri Oct 20, 2017 8:23 am
Forum: Investing - Help with Personal Investments
Topic: Best place to invest (*other* than Vanguard)?
Replies: 27
Views: 2573

Re: Best place to invest (*other* than Vanguard)?

Vanguard, Schwab and Fidelity here. Lousy 401k at work at Mass Mutual not by my choice.
by goodenyou
Thu Oct 19, 2017 11:31 am
Forum: Investing - Theory, News & General
Topic: Sitting on cash....Waiting for a crash
Replies: 175
Views: 27476

Re: Sitting on cash....Waiting for a crash

Investors that are kept up at night with the prospect of losing money on paper and are compelled to increase liquidity are also kept up at night with the prospect of not meeting their investment goals. Market timing does work. It is successful when you get out (reduce your position) after you have r...
by goodenyou
Thu Oct 19, 2017 10:45 am
Forum: Investing - Theory, News & General
Topic: The overselling of international diversification
Replies: 56
Views: 5205

Re: The overselling of international diversification

I respect the "Armageddon" argument for buying foreign stocks, but it's overdone, IMO. For example, I don't understand is why anyone who is willing to something as significant as investing their hard-earned money in foreign stocks as a hedge apparently doesn't consider other hedges that would make ...
by goodenyou
Wed Oct 18, 2017 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Is a doctor's practice one of the safest and most profitable businesses?
Replies: 58
Views: 3917

Re: Is a doctor's practice one of the safest and most profitable businesses?

Another point, which I can't speak to from personal experience, is that doctors, veterinarians, etc. can and do sell their practices. Indeed, the business model for a sole-proprietorship practice pretty much assumes that you can sell the practice at the end, otherwise it isn't a very good business ...
by goodenyou
Wed Oct 18, 2017 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Is a doctor's practice one of the safest and most profitable businesses?
Replies: 58
Views: 3917

Re: Is a doctor's practice one of the safest and most profitable businesses?

I know a lot of docs who are hardly making a go of it these days, and many more who've sold out to hospitals simply so they can take home a paycheck. Now I agree there are plenty of others making a ton. Medicine is an odd type of business model. In private practice the doc gets paid on a "per servi...
by goodenyou
Wed Oct 18, 2017 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Is a doctor's practice one of the safest and most profitable businesses?
Replies: 58
Views: 3917

Re: Is a doctor's practice one of the safest and most profitable businesses?

OP, If you get a chance, read the book, "The Millionaire Next Door". The most profitable small businesses are junkyards and pawn shops. KlangFool Read it already and reading it is one of the reasons for my post. It says the most profitable businesses are coal mining # 1 and then office of physician...
by goodenyou
Wed Oct 11, 2017 2:57 pm
Forum: Investing - Help with Personal Investments
Topic: Protecting against the possibility of a correction?
Replies: 45
Views: 4283

Re: Protecting against the possibility of a correction?

It appears that the common wisdom here (in a Bogle philosophy) is that the greatest risk is the attempt to mitigate risk with a complicated strategy. Bogle is often attributed with the remark "don't do something, stand there" during times of turbulence. Protecting against a correction is market tim...
by goodenyou
Wed Oct 11, 2017 2:45 pm
Forum: Investing - Help with Personal Investments
Topic: Protecting against the possibility of a correction?
Replies: 45
Views: 4283

Re: Protecting against the possibility of a correction?

It appears that the common wisdom here (in a Bogle philosophy) is that the greatest risk is the attempt to mitigate risk with a complicated strategy. Bogle is often attributed with the remark "don't do something, stand there" during times of turbulence. Protecting against a correction is market timi...
by goodenyou
Wed Oct 11, 2017 11:34 am
Forum: Investing - Help with Personal Investments
Topic: Anesthesiologist Advise [how to save money]
Replies: 45
Views: 5920

Re: Anesthesiologist Advise [how to save money]

You will get "there". How fast and by how much is the question. Living in California on $300k is much better than many. You will pay a lot more taxes than other places, and the cost of living will be more. How one defines cost of quality of life is subjective. The size of home, use of services that ...
by goodenyou
Tue Oct 10, 2017 12:36 pm
Forum: Investing - Help with Personal Investments
Topic: Anesthesiologist Advise [how to save money]
Replies: 45
Views: 5920

Re: Anesthesiologist Advise [how to save money]

I moved to an ultra LCOL and did the geographic arbitrage (in the old days of medicine-20+ years ago). Spent less and made more with additional investment opportunity. I spent the first 5 years living in a small home and paid off all debt. The next 5 years I lived way below my means, but I was still...
by goodenyou
Wed Oct 04, 2017 8:55 am
Forum: Investing - Theory, News & General
Topic: $10 million+ - Still Working and LBYM
Replies: 162
Views: 17284

Re: $10 million+ - Still Working and LBYM

And you're right - I don't see real estate in good areas of NYC/SF/LA as being "risky". Sure, anything could happen, but losing money on that would be at the very bottom of my worry list when considering history. Must be recent history.....NYC real estate was destroyed in the 70s and 80s; an old ne...
by goodenyou
Wed Oct 04, 2017 8:42 am
Forum: Investing - Theory, News & General
Topic: Does anyone hold cash?
Replies: 58
Views: 6048

Re: Does anyone hold cash?

Yes. I am 55/35/10 stocks/bonds/cash. I am still working, but I hold cash for the option to make large purchases. If I am contemplating buying a car, I have the option and can proceed without depleting an emergency fund allocated for emergencies. We are considering building a new house. No definite ...
by goodenyou
Tue Oct 03, 2017 9:20 pm
Forum: Investing - Theory, News & General
Topic: $10 million+ - Still Working and LBYM
Replies: 162
Views: 17284

Re: $10 million+ - Still Working and LBYM

Among possible triggers: * Unfavorable tax changes at the city/state/national level * Unfavorable developments in the industry(s) that these cities dominate (tech, entertainment, finance, etc) * Shifts in those industries to cheaper areas * Political/social discord and/or spike in crime leads to lo...
by goodenyou
Sun Oct 01, 2017 2:33 pm
Forum: Investing - Theory, News & General
Topic: $10 million+ - Still Working and LBYM
Replies: 162
Views: 17284

Re: $10 million+ - Still Working and LBYM

We are peaking in spending with 2 college kids and one soon to enter. Young adult children are very expensive. We are finding that excessive spending on trying to maintain a large home with tremendous maintenance, property taxes, gardeners, pool maintenance is not how we want to spend money. Earnin...
by goodenyou
Sun Oct 01, 2017 10:42 am
Forum: Investing - Theory, News & General
Topic: $10 million+ - Still Working and LBYM
Replies: 162
Views: 17284

Re: $10 million+ - Still Working and LBYM

To support our current spending level I calculate we would need about $20 million of financial assets at a 4% withdrawl rate to yield $800,000 per year pretax which would translate into $500,000 a year after tax. The $100k tuition and part of the $125,000 on kids sports don't continue forever. If y...