Search found 457 matches

by mac808
Sun May 27, 2018 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Helping Adult Children (but not too much)
Replies: 149
Views: 10705

Re: Helping Adult Children (but not too much)

-The top 10-20% of your kids will do better financially than I ever could, because they leveraged your help. I went the academia route, where some of them took on parental capital and living expense support to start companies, where they had 7- or 8-figure exits or more. Some got fancy MBAs or law ...
by mac808
Sun May 27, 2018 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Helping Adult Children (but not too much)
Replies: 149
Views: 10705

Re: Helping Adult Children (but not too much)

It is good to have perspective and I appreciate yours. You may enjoy this article: https://www.theatlantic.com/magazine/archive/2018/06/the-birth-of-a-new-american-aristocracy/559130/ We will leave the majority of our estate to charity. Wildebeest, I have a genuine question for you: what obligation...
by mac808
Sun May 27, 2018 4:25 am
Forum: Personal Finance (Not Investing)
Topic: Leave career (fortune 200) and join the peace corps?
Replies: 28
Views: 2718

Re: Leave career (fortune 200) and join the peace corps?

Managing a 25m P&L at $76k base? If true, you're one of the most underpaid managers I've ever seen. Doesn't seem like you have much to lose.
by mac808
Wed May 16, 2018 9:54 am
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 11622

Re: New(ish) attending physicians in the Bay Area: Housing

You can afford the mortgage on 1.5-2.5 M house, but once you buy, stop reading blogs about super early FI and ‘I paid off my mortage’and be okay with that despite your salary being higher than these folks. This jumped out at me as especially good advice. Part of the mental struggle here might be re...
by mac808
Tue May 15, 2018 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 11622

Re: New(ish) attending physicians in the Bay Area: Housing

You might get lucky like we did and experience a steady rise in the market. I'll acknowledge that anything is possible, but I just don't see how there's much appreciation potential left. The median house is already priced for two working professionals with extremely high incomes, no job loss, rock ...
by mac808
Tue May 15, 2018 9:27 am
Forum: Local Chapters and Bogleheads Community
Topic: Yes, I'm 89 all right! [Jack Bogle]
Replies: 126
Views: 9085

Re: Yes, I'm 89 all right!

Happy Birthday Mr. Bogle and thanks for all you have done, and continue to do.
by mac808
Sun May 06, 2018 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: HSA logistics for common law marriage.
Replies: 12
Views: 630

Re: HSA logistics for common law marriage.

In some states common law marriage takes affect without any legal paperwork being done. For example one only needs to say they are married and therefor common law marriage applies. For this exercise let's just assume domestic partners to eliminate any chance of confusion. There is no official paper...
by mac808
Sun May 06, 2018 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Comparing 2 physician jobs
Replies: 69
Views: 5970

Re: Comparing 2 physician jobs

Beyond that is unlikely given complexities regarding the Stark law and fair market value for compensation to physicians who are paid more than they bring in. I'm familiar with Stark laws and know a lot of physicians who earn more than they bring in, notably a couple sub-specialty surgeons who are t...
by mac808
Sun May 06, 2018 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: HSA logistics for common law marriage.
Replies: 12
Views: 630

Re: HSA logistics for common law marriage.

Here is the scenario: Couple in common law marriage only. Filing taxes as single since US government does not recognize common law marriage. Back up for a moment. When and in what state was the common law marriage established? In almost all cases, the Feds will recognize a common law marriage if a ...
by mac808
Sat May 05, 2018 4:57 pm
Forum: Investing - Help with Personal Investments
Topic: Ed. Jones rep didn't like our plan, now we're locked out
Replies: 152
Views: 17851

Re: Ed. Jones rep didn't like our plan, now we're locked out

https://www.edwardjones.com/images/ETY-1714E-A-MA.pdf Wow. I didn't think that kind of fee schedule still existed anywhere. Holy cow. That is obscene. I'm almost afraid to ask this but does this mean that a single executed buy or sell order in an account worth >$100k costs a minimum of $705 in comm...
by mac808
Thu May 03, 2018 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: Doctor selling a practice
Replies: 23
Views: 2764

Re: Doctor selling a practice

I'm more familiar with medical practices than dental practices but there are some similarities. The norm is that good employees are retained but pay and benefits are reduced to help pay off debt used to acquire the practice. That said, I've seen all kinds of outcomes and much depends on the type of ...
by mac808
Thu May 03, 2018 7:04 pm
Forum: Personal Finance (Not Investing)
Topic: Doctor selling a practice
Replies: 23
Views: 2764

Re: Doctor selling a practice

Unless she has something in writing, there are no guarantees when practices are sold. Besides that, what if the new owners are total jerks and it becomes a toxic work environment? Seems advisable for her to start preparing for a range of "what if" outcomes. Audited financials are part of most busine...
by mac808
Sun Apr 29, 2018 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Denial- How to Proceed?
Replies: 12
Views: 1735

Re: Medicare Denial- How to Proceed?

First, don't be too hard on the doctor - they aren't paid extra for the appeal and it can be extremely time consuming, not to mention frustrating. If they appealed every denial, they would go out of business. Second, for all those reading this thread - this is the future of medicaid/medicare for man...
by mac808
Thu Apr 19, 2018 11:48 am
Forum: Personal Consumer Issues
Topic: Another discussion about private vs public schools?
Replies: 79
Views: 4548

Re: Another discussion about private vs public schools?

I get this, but I always come up against the notion of how else do you make a fair comparison amongst disparate entities without having a standard to measure against? Sure, I can probably suss out whether English teacher A is better or worse than English teacher B in my town, but how does the state...
by mac808
Thu Apr 19, 2018 10:56 am
Forum: Personal Consumer Issues
Topic: Another discussion about private vs public schools?
Replies: 79
Views: 4548

Re: Another discussion about private vs public schools?

But note that in Honors and AP classes in public middle and high schools, you'll also get smaller class sizes and fewer disruptive students. You may have a point for elementary school. What's wrong with standardized testing? Standardized testing encourages a narrow scope of memorization and "teachi...
by mac808
Thu Apr 19, 2018 10:32 am
Forum: Personal Consumer Issues
Topic: Another discussion about private vs public schools?
Replies: 79
Views: 4548

Re: Another discussion about private vs public schools?

The three main advantages to private schools are smaller class sizes, fewer disruptive students, and no standardized testing requirements from the state. You should be able to compare class size directly between the two options.
by mac808
Thu Apr 19, 2018 3:09 am
Forum: Personal Finance (Not Investing)
Topic: Quitting job - what to do if getting walked to the door
Replies: 106
Views: 11442

Re: Quitting job - what to do if getting walked to the door

I'm not talking about what is legal. I'm referring to the reality of what will happen in certain companies under a "getting walked to the door" situation. Security certainly could be called. An Employee could contest it later, but "in the moment", it's going to be " The Employee vs. The Security Of...
by mac808
Fri Apr 13, 2018 12:15 am
Forum: Personal Consumer Issues
Topic: Mid-40s in tech - how to pass off as acceptably young
Replies: 111
Views: 10445

Re: Mid-40s in tech - how to pass off as acceptably young

Shave hair. Cool geek looking like Jeff Bezos. Can you still write code? If you can, you can still have a job. If not, sorry. I'm surprised whenever I hear about coders wanting to move into management to combat age-ism. I always saw it the other way around. If you can code well, you will have more ...
by mac808
Tue Apr 10, 2018 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Parents want to sell house to save their business
Replies: 14
Views: 1738

Re: Parents want to sell house to save their business

>fear of not being able to find a job at all at their age.

Maybe I'm missing something but wouldn't unemployment actually be cheaper for them than the current situation? Do they run no payroll at all?
by mac808
Tue Mar 20, 2018 11:30 am
Forum: Personal Finance (Not Investing)
Topic: Cost of College vs Starting Income
Replies: 94
Views: 4401

Re: Cost of College vs Starting Income

I was discussing the recent costs of a college education vs the income benefits with a young person recently. I graduated about 50 years ago (with modest grades) with a basic liberal arts degree. This was a (then) a high tuition private university. I cannot recall the room and board charges, etc. B...
by mac808
Thu Mar 15, 2018 7:47 pm
Forum: Personal Consumer Issues
Topic: Large life style creep that was completely worth it
Replies: 112
Views: 14524

Re: Large life style creep that was completely worth it

Housing is the big one for me and many others, I would suspect. Dream houses can be deceptively expensive. I budget 1% of the purchase price every year (above and beyond property taxes and insurance) for upkeep and miscellaneous expenses. If you live in an area with 2% property taxes, all of a sudde...
by mac808
Thu Mar 15, 2018 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Those with high savings rate: why?
Replies: 246
Views: 31304

Re: Those with high savings rate: why?

I don't even think of it as saving most the time. I think of it as spending. I would just rather buy more stock than a nicer car. I enjoy owning dividend producing things of all kinds.
by mac808
Tue Mar 13, 2018 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Selling business (website) considerations
Replies: 27
Views: 2304

Re: Selling business (website) considerations

Try to find a lawyer who has experience negotiating small m&a deals from soup to nuts as it's a pretty specific type of experience. Non compete, reps and warranties, clawbacks, indemnities and similar issues are all just personal negotiations between you and the buyer. For small deals less than 8 fi...
by mac808
Fri Mar 09, 2018 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Young Lawyer in Big Law -- NYC or SF?
Replies: 13
Views: 1666

Re: Young Lawyer in Big Law -- NYC or SF?

Major personal preferences for weather and so forth aside, does he love and want to work in tech or primarily with tech clients? If so, SF. If not, NYC. Unless you're connected deeply to tech you will always be second fiddle in SF.
by mac808
Fri Mar 09, 2018 9:18 am
Forum: Investing - Help with Personal Investments
Topic: Can I take an 85+% pay cut for fun?
Replies: 80
Views: 9211

Re: Can I take an 85+% pay cut for fun?

Why not start planning the change now and set a date for 3 years from now. You can continue to work in 3 years of the lowest personal tax environment we will probably see ever going forward and the excitement of a known date should help keep you motivated. You will build a better cushion and can ta...
by mac808
Mon Mar 05, 2018 2:17 pm
Forum: Personal Consumer Issues
Topic: Is this a housing bubble?
Replies: 71
Views: 8528

Re: Is this a housing bubble?

Amazon HQ2 is the best bet for creating a "Silicon Valley East" (assuming it's either in Boston or VA-MD) and lessening pressure to be in the Bay Area. Until then, SFBA rules the roost alone.
by mac808
Sat Mar 03, 2018 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Has the home we wanted just become 20% more expensive due to tax reforms?
Replies: 62
Views: 6839

Re: Has the home we wanted just become 20% more expensive due to tax reforms?

If you are depending on tax deductions of interest and taxes to determine if you can afford a house you are buying too much house. I disagree with this... it seems reasonable to take into account the total cost of ownership and factor tax deductions into that number, keeping in mind that tax laws c...
by mac808
Sat Mar 03, 2018 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Has the home we wanted just become 20% more expensive due to tax reforms?
Replies: 62
Views: 6839

Re: Has the home we wanted just become 20% more expensive due to tax reforms?

If you are depending on tax deductions of interest and taxes to determine if you can afford a house you are buying too much house. I disagree with this...it seems reasonable to take into account the total cost of ownership and factor tax deductions into that number, keeping in mind that tax laws ca...
by mac808
Wed Feb 28, 2018 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: Possible career change - move to HCOL area and salary expectations?
Replies: 15
Views: 1807

Re: Possible career change - move to HCOL area and salary expectations?

Hi everyone. Need bogleheads wisdom regarding my personal career. Currently I live in Tampa, FL and make 96K a year plus ~8% bonus. I have been with my current employer for about two years and about to start submitting applications for new job due to lack of promotions/future advancement opportunit...
by mac808
Wed Feb 28, 2018 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford to stay in HCOL area?
Replies: 72
Views: 5779

Re: Can we afford to stay in HCOL area?

I think it boils down to expectations and the meaning of the term "comfortable" to people who are wealthy. A household making $365K/year is in the 98.7th percentile in the USA. Only 1.3% of American households make more than that. https://dqydj.com/household-income-percentile-calculator-2016/ By ob...
by mac808
Mon Feb 26, 2018 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Tax reform SALT affecting in Bay Area?
Replies: 67
Views: 9397

Re: Tax reform SALT affecting in Bay Area?

My guess in Dec 2017 was that mass market behaviors won't change until 2018 tax returns are filed at the earliest, so another 12+ months away. Conversations with friends in CA and NJ have reinforced this view. People complain but the real pain signals are still ambling up the nerves to the brain, so...
by mac808
Mon Feb 26, 2018 7:39 am
Forum: Investing - Help with Personal Investments
Topic: Laid off 3 years before plan, should I retire anyway?
Replies: 59
Views: 6156

Re: Laid off 3 years before plan, should I retire anyway?

- Obamacare for healthcare. Leverage housing profit to minimize income and maximize subsidies. Make sure you budget for deductibles which can be significant even under some of the subsidized ACA plans. Are there any part time jobs or consulting gigs you could pick up that would bridge you for a few...
by mac808
Sun Feb 25, 2018 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Help me understand HCOL and valuations
Replies: 22
Views: 1426

Re: Help me understand HCOL and valuations

Home prices in HCOL can and do detach from local salaries. I've seen two methods of helping service workers (broadly defined to include teachers, police, firefighters, and other public service workers) remain in the area. The first method is what niche resort areas like Nantucket and Aspen have done...
by mac808
Fri Feb 23, 2018 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Bogleheads: What are you doing to prepare for dementia/alzheimers?
Replies: 60
Views: 5765

Re: Bogleheads: What are you doing to prepare for dementia/alzheimers?

Adult adoption? Only half joking. Got any good friends in reasonable health, a generation or so younger than you? I'm surprised more young attorneys don't pursue this as an opportunity - charge $5k annually to help oversee the affairs of elderly upper middle folks who are all alone. Or maybe they do...
by mac808
Mon Jan 29, 2018 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: Still working out of greed or fear?
Replies: 46
Views: 5108

Re: Still working out of greed or fear?

How about fear AND greed: fear that the market will suffer a 2008-like 50% correction and greed in wanting to have lots of income to keep investing if/when it does?
by mac808
Fri Jan 12, 2018 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: How much/little money to give kids in will so they continue to work
Replies: 95
Views: 8700

Re: How much/little money to give kids in will so they continue to work

I'm always amused by threads on this topic. My high school graduating class had half a dozen kids from billionaire families and the rest weren't exactly poor if you catch my drift. Most had substantial trust funds or other resources that made them FI on some level. I saw a lot of different parenting...
by mac808
Fri Jan 05, 2018 2:25 am
Forum: Investing - Theory, News & General
Topic: Article claims: Housing was the world’s best investment over the last 150 years
Replies: 14
Views: 1661

Re: Article claims: Housing was the world’s best investment over the last 150 years

One further aspect to consider is that while it is very easy to invest in all listed stocks for a very modest annual cost, it is not possible to invest in all existing houses. Therefore it makes sens to talk of the return of stocks, not so much of the return of housing. In particular if you were in...
by mac808
Mon Dec 25, 2017 10:48 pm
Forum: Investing - Theory, News & General
Topic: Are Bitcoins really limited?
Replies: 10
Views: 1674

Re: Are Bitcoins really limited?

No. A complete answer is fairly complicated but anyone who claims that there will only ever be 21 million Bitcoins in existence doesn't understand how these consensus-driven (emphasis on consensus) systems work.
by mac808
Tue Dec 12, 2017 12:58 pm
Forum: Investing - Help with Personal Investments
Topic: So bought Litecoin@ $150...
Replies: 14
Views: 2928

Re: So bought Litecoin@ $150...

My sister who is a total techno-phobe called to chit chat about litecoin last weekend. Feels like the dot-com bubble all over again. Could be 1997 or 1999 I guess we'll find out in hindsight.
by mac808
Sat Nov 25, 2017 9:04 pm
Forum: Investing - Help with Personal Investments
Topic: Bonds: Why?
Replies: 29
Views: 2617

Re: Bonds: Why?

As 5 year CD rates creep up closer to 3% (with 6 month EWPs) I'm also wondering whether they are a good substitute for some or all of my bond allocation.
by mac808
Fri Nov 24, 2017 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Regrets for taking SS at 62 or waiting?
Replies: 100
Views: 10209

Re: Regrets for taking SS at 62 or waiting?

Wow, so far no one has any regrets either way, how can this be :confused Because the people who died while waiting to take it later are unable to respond. Similarly, those who took it early but have since advanced beyond the actuarial break-even point might be less prone to post simply due to old a...
by mac808
Mon Nov 20, 2017 12:39 pm
Forum: Personal Consumer Issues
Topic: HelloFresh meal boxes - disputing credit card charge
Replies: 19
Views: 2086

Re: HelloFresh meal boxes - disputing credit card charge

I dealt with a similar situation recently and did a lot of research into this. File a chargeback. There is a 95%+ probability you will prevail. Usually if you mention the word "chargeback" on the phone these companies will refund you as the mere filing of one has some negative consequences for them....
by mac808
Sat Nov 18, 2017 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: [UPDATED 1/26/2018 ] 55+ Early retirement offer.
Replies: 90
Views: 13332

Re: 55+ Early retirement offer.

2018 may still be a big income year due to severance. Correct, but that will work to your advantage in 2019 and beyond. ACA does not look at your assets at all, just your estimated income for the upcoming year. So if you keep the severance in cash, plus if you have any taxable accounts with potenti...
by mac808
Wed Nov 08, 2017 9:22 am
Forum: Personal Finance (Not Investing)
Topic: How old are you and how much do you save for retirement a year
Replies: 244
Views: 29482

Re: How old are you and how much do you save for retirement a year

Late 30s. In 2016 I saved about 85% of after-tax income (mid six figures), trying to hit 90% this year.
by mac808
Mon Oct 30, 2017 12:39 am
Forum: Personal Consumer Issues
Topic: Sunscreen: use it all the time? (And what's a good one w/o sting?)
Replies: 58
Views: 4393

Re: Sunscreen: use it all the time? (And what's a good one w/o sting?)

If one is a stay at home parent to a young infant & knows they will be remaining indoors 100% of the day, is a daily application of sunscreen still recommended?
by mac808
Sat Oct 28, 2017 12:51 pm
Forum: Personal Consumer Issues
Topic: Should Young Adults Create Social Security Accounts?
Replies: 1
Views: 350

Re: Should Young Adults Create Social Security Accounts?

With all the breaches, would it be smart to have your young adult children create social security accounts as early as possible? Yes, I think it's smart for two reasons. First, as you noted, they reduce the likelihood of an identity thief creating an account for them and using it for mischief. Seco...
by mac808
Sat Oct 28, 2017 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire today?
Replies: 132
Views: 9108

Re: Can I retire today?

Unlike municipalities, states cannot go bankrupt. Thus, there are protections against cuts in state pension benefits once the benefits have accrued, and especially once payouts have begun. At least one state has tried to trim COLAs for current retirees, but I don't think it was ultimately successfu...
by mac808
Sat Oct 28, 2017 12:54 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire today?
Replies: 132
Views: 9108

Re: Can I retire today?

Teague, I would just advise you to pay attention to pension happenings in your state. You're with CalPERS, right? They, and many other pension funds across the country, have very large unfunded liabilities. You have enough assets that you'll probably be OK, but be prepared to cut back if need be. I...
by mac808
Tue Oct 24, 2017 12:51 am
Forum: Investing - Theory, News & General
Topic: Building very high net worth
Replies: 81
Views: 9686

Re: Building very high net worth

My septuagenarian observations. Most SBO are neither very clever nor highly disciplined. Those who are quickly outrun the masses, and I have observed a handful of them who have made it to 9 and 10 figures from zilch when we were all in our 20s and 30s. They took major risks, e.g. left promising car...
by mac808
Wed Oct 18, 2017 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: Is a doctor's practice one of the safest and most profitable businesses?
Replies: 58
Views: 4531

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

Business is based on supply and demand. There's effectively unlimited demand, from insured patients, for the majority of medical services. Now if your unit economics are terrible, unlimited demand doesn't help you; you'll still go broke. But if you can get the unit economics right, then you can make...